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  • Franklin Templeton Case: Supreme Court Approves Distribution Mechanism Of SBI Mutual Fund And SBI Funds Management

    first_imgTop StoriesFranklin Templeton Case: Supreme Court Approves Distribution Mechanism Of SBI Mutual Fund And SBI Funds Management Srishti Ojha9 Feb 2021 7:04 AMShare This – xThe Supreme Court on Tuesday approved the application filed by SBI Mutual Fund and SBI Funds Management Pvt Ltd, for placing on record the distribution mechanism proposed to be followed while distributing Franklin Templeton’s 9122 crores amongst its unit holders, under the six mutual fund schemes. The application has followed the top Court’s last order whereby it had directed…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court on Tuesday approved the application filed by SBI Mutual Fund and SBI Funds Management Pvt Ltd, for placing on record the distribution mechanism proposed to be followed while distributing Franklin Templeton’s 9122 crores amongst its unit holders, under the six mutual fund schemes. The application has followed the top Court’s last order whereby it had directed SBI Mutual Funds to undertake the distribution, dividing the amount amongst unit holders, in proportion to their respective interest in assets of scheme, as agreed by both Franklin Templeton Trust and SEBI. A division Bench of Justices Abdul Nazeer and Sanjeev Khanna issued the directions while hearing the plea by Franklin Templeton challenging a Karnataka High Court’s order which restrained winding up of six of its debt schemes without obtaining the consent of its investors by a simple majority. The Court has also approved the application for impleadment filed by SBI Mutual Funds and SBI Funds Management Pvt Ltd. The matter has been posted on 17th February 2021 for final arguments. The present application submitted that SBI Funds Management Pvt Ltd has been been appointed as Asset Management Company of SBI Mutual Fund, and SBI MF being a Trust, all its operations are being carried out by SBI Funds Management Pvt Ltd. “Accordingly, SBI Funds Management Pvt Ltd would take all steps to endeavour to distribute the amount of Rs 9122 Crore to the unit holders of the six mutual fund schemes of Franklin Templeton Mutual Fund in compliance with the order dated 02.02.2021 passed by this Hon’ble Court. SBI Mutual Fund and SBI Funds Management Pvt Ltd shall collectively be referred to as SBIMF in short” – the application read. Following the application, the Court has approved that SBI Mutual Funds be replaced with SBI Funds Management Pvt Ltd. in its last order 2nd February 2021. The Apex Court in its last hearing had directed that amount of 9122 crores that is cash ready with Franklin Templeton as on 15th January 2021 be distributed amongst the unit holders under the six mutual fund schemes. The Court was examining objections to the e-voting results to decide if disbursal or payment to the unit holders should be made. The Court had asked the Franklin Templeton Trust services and the asset management company to cooperate with SBI Mutual Funds in this regard and furnish to them entire data and details. The Bench had further directed the process to preferably be completed in period of 20 days from date of this order and has given liberty to the parties to can move an application and approach the Court in case of any difficulty in the process. In December 2020, the Supreme Court had allowed Franklin Templeton Trustees to call for a meeting of unit holders to seek their consent/approval. The top court had hauled up SEBI adding that it had a lot to answer for and why did it not intervene when unit holders started seeking redemption, much like how RBI intervened in cases of banks, to protect depositors. Franklin had stated that in May 2020, the trustees had sought a vote by unit investors for validly undertaking an orderly sale of the debt securities held in the funds and return money to Unit investors. However, the process could not be completed. It had stated that after judgement of High Court of Karnataka, it considered all possible options to start returning money to unit holders in the shortest possible time in an orderly manner. This included the option of seeking unit holder consent according to the judgment of the High Court. However, after detailed deliberations, it determined that it will be necessary to seek judicial intervention from the Supreme Court to ensure an appropriate implementation of the law in the best interest of unit holders. This action took some time because these steps needed to be carefully and thoughtfully taken to ensure that it can return unit holder monies at the earliest in an equitable manner, without distress sale of securities (at steep discounts) that would occur if there is a rush of redemptions. The Karnataka High Court had heard the petitions challenging the winding up of six debt fund schemes of the Fund House.While the court had refused to interfere with the decision of winding up the schemes, it had said that FT has to take the consent of the unit holders before taking further steps on the basis of the decision. “The decision of the trustees to wind up the six schemes is not interfered by the court subject to it obtaining consent from the unit holders”, the court had stated in the order. Franklin Templeton had in April announced its decision to wind up six debt funds citing low liquidity. Nearly three lakh investors are estimated to be affected by this decision. It was after this decision that some investors moved various High Courts. Petitions across High courts were clubbed by the Supreme Court vide an order dated June 24 in the transfer petition filed by Franklin Templeton seeking consolidation of various petitions filed with respect to the winding up of debt fundsNext Storylast_img read more

  • Kenta Maeda ends his winless slide with seven scoreless innings for Dodgers

    first_imgPreviousClayton Kershaw, left, of the Los Angeles Dodgers has some fun on the bench as he tosses ice on his teammates prior to a MLB baseball game between the Los Angeles Dodgers and the Arizona Diamondbacks at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Max Muncy #13 shakes hands with teammate Tyler White #28 of the Los Angeles Dodgers after hitting a solo home run against the Arizona Diamondbacks in the second inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Max Muncy #13 of the Los Angeles Dodgers hits a solo home run against the Arizona Diamondbacks in the second inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG) SoundThe gallery will resume insecondsKenta Maeda #18 of the Los Angeles Dodgers throws to the plate against the Arizona Diamondbacks in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Russell Martin #55 of the Los Angeles Dodgers waits his turn at bat against the Arizona Diamondbacks in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Alex Young #49 of the Arizona Diamondbacks throws to the plate against the Los Angeles Dodgers in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Russell Martin #55 of the Los Angeles Dodgers singles against the Arizona Diamondbacks as teammate Max Muncy (not pictured) scores in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Russell Martin #55 of the Los Angeles Dodgers slides back into first base after he singles against the Arizona Diamondbacks as teammate Max Muncy (not pictured) scores in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Max Muncy #13 of the Los Angeles Dodgers high fives manager Dave Roberts and bench coach Bob Geren, right, after scoring on a single by Russell Martin (not pictures) against the Arizona Diamondbacks in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Corey Seager #5 of the Los Angeles Dodgers scores past Alex Avila #31 of the Arizona Diamondbacks on a bunt single by Kenta Maeda (not pictured) in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Russell Martin #55 of the Los Angeles Dodgers moves to third base on a ground ball by teammate A.J. Pollock (not pictured) against the Arizona Diamondbacks in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Russell Martin #55 of the Los Angeles Dodgers moves to third base on a ground ball by teammate A.J. Pollock (not pictured) against the Arizona Diamondbacks in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Alex Young #49 of the Arizona Diamondbacks is taken out of the game against the Los Angeles Dodgers in the fourth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Joc Pederson #31 of the Los Angeles Dodgers catches a drive by Alex Avila (not pictured) of the Arizona Diamondbacks in the sixth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Kenta Maeda #18 of the Los Angeles Dodgers bunts four a hit against the Arizona Diamondbacks in the sixth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Kenta Maeda #18 of the Los Angeles Dodgers throws to the plate against the Arizona Diamondbacks in the seventh inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California.Eduardo Escobar #5 of the Arizona Diamondbacks throws late as Corey Seager (not pictured) of the Los Angeles Dodgers is safe at first base in the eighth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Kenley Jansen #74 of the Los Angeles Dodgers enters the game against the Arizona Diamondbacks in the ninth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Corey Seager #5 of the Los Angeles Dodgers throws out Jarrod Dyson (not pictured) of the Arizona Diamondbacks in the ninth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Kenley Jansen #74 of the Los Angeles Dodgers shakes hands with Russell Martin as the Dodgers defeat the Arizona Diamondbacks 4-0 in the ninth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Kenley Jansen #74 of the Los Angeles Dodgers throws to the plate against the Arizona Diamondbacks in the ninth inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Joc Pederson #31 of the Los Angeles Dodgers prior to a MLB baseball game between the Los Angeles Dodgers and the Arizona Diamondbacks at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Justin Turner #10 of the Los Angeles Dodgers prior to a MLB baseball game between the Los Angeles Dodgers and the Arizona Diamondbacks at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Walker Buehler #21 of the Los Angeles Dodgers prior to a MLB baseball game between the Los Angeles Dodgers and the Arizona Diamondbacks at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Clayton Kershaw, left, of the Los Angeles Dodgers has some fun on the bench as he tosses ice on his teammates prior to a MLB baseball game between the Los Angeles Dodgers and the Arizona Diamondbacks at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Clayton Kershaw, left, of the Los Angeles Dodgers has some fun on the bench as he tosses ice on his teammates prior to a MLB baseball game between the Los Angeles Dodgers and the Arizona Diamondbacks at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Clayton Kershaw, left, of the Los Angeles Dodgers has some fun on the bench as he tosses ice on his teammates prior to a MLB baseball game between the Los Angeles Dodgers and the Arizona Diamondbacks at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Max Muncy #13 shakes hands with teammate Tyler White #28 of the Los Angeles Dodgers after hitting a solo home run against the Arizona Diamondbacks in the second inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)NextShow Caption1 of 26Max Muncy #13 shakes hands with teammate Tyler White #28 of the Los Angeles Dodgers after hitting a solo home run against the Arizona Diamondbacks in the second inning of a MLB baseball game at Dodger Stadium on Saturday, Aug. 10, 2019 in Los Angeles, California. (Photo by Keith Birmingham, Pasadena Star-News/SCNG)Expand LOS ANGELES — It still seems inevitable.Kenta Maeda’s limitations as a starter, his dominance over right-handed hitters and the Dodgers’ long list of options for a fourth starter foretell another October spent in the bullpen for the Japanese right-hander.“Anything is possible,” Dodgers manger Dave Roberts said on the topic before Saturday’s game. “We still have a lot of baseball to play.” Dodgers hit seven home runs, sweep Colorado Rockies Not that much. But Maeda did his best to unseal his fate Saturday night, holding the Arizona Diamondbacks scoreless on three hits in seven innings of a 4-0 Dodgers victory.The performance reversed a two-month slide by Maeda. In his 12 appearances before Saturday (11 starts), he was 0-6 with a 5.26 ERA, bottoming out last week when he lasted just 2 2/3 innings against the San Diego Padres.“Tonight was really, really good from Kenta,” Roberts said after the game. “It was good for our ballclub but more importantly it was good for his confidence, the way he threw the baseball.”Maeda acknowledged the poor start against the Padres did not sit well with him and he went to pitching coach Rick Honeycutt, looking for answers before his next start. In particular, Honeycutt had Maeda re-adjust his arm slot, bringing his arm up slightly.“Even though it’s not like every single outing the past two months was bad, towards the end I did have a couple bad outings. Obviously that doesn’t feel great,” Maeda said through his interpreter. “Yes, I did go to Honeycutt after that game (against the Padres). Not just my arm slot and pitching mechanics but overall my pitch mix …. We had a discussion on that.”Against the Diamondbacks, Maeda retired the first nine batters he faced before giving up back-to-back singles to start the fourth inning. A caught-stealing erased one runner. A fly out and strikeout stranded the other at third base.That was the only peril the Diamondbacks managed to create for Maeda. They had just one more hit against the Dodgers starter and didn’t get another runner past first base in the game.Saturday was the aggressive, efficient version of Maeda that the Dodgers would like to see more often. He threw 93 pitches in his seven innings, 63 for strikes, and 11 or fewer to retire the side in four of those innings. He started out 13 of the 23 batters he faced with a strike, struck out six and didn’t walk a batter, securing his first win since May 31.“I was able to mix in everything tonight,” Maeda said.“The past couple months I’ve been starting off the at-bats with a pitch outside the (strike) zone, starting off the inning with a walk. Tonight, I made sure I stayed in the zone and attacked the batters and made sure I threw strikes.”That mentality served Maeda well pitching out of the bullpen during the Dodgers’ past two postseason runs. Another October re-assignment looms but Maeda said he is not thinking about that yet.“The postseason is a whole different story. I’ll think about it once we get there,” he said. “But as of now, my job during the season is to pitch as a starter. So that’s not really on my mind as of now.”Related Articles How Dodgers pitcher Ross Stripling topped the baseball podcast empire Dodgers’ Max Muncy trying to work his way out of slow start Cody Bellinger homer gives Dodgers their first walkoff win of season Fire danger is on Dave Roberts’ mind as Dodgers head to San Francisco Newsroom GuidelinesNews TipsContact UsReport an Error The Dodgers’ offense backed Maeda with four early runs against Diamondbacks starter Alex Young.Max Muncy started it with a 429-foot solo home run in the second inning. In the third, Russell Martin doubled and scored on Kristopher Negron’s two-out RBI single (after Justin Turner was intentionally walked).Negron has batted .310 (9 for 29) with seven RBI in nine games since joining the Dodgers, earning a surprising start batting third Saturday between Turner and Cody Bellinger.“I just felt that Kris had been taking really good at-bats,” Roberts said. “So you look at the matchup and they took their chances with Negron. But he’s a guy I fell is going to put the ball in play. Fortunately for us, it found a hole.”In the fourth, the Dodgers parlayed a pair of walks, an RBI single by Martin and a successful squeeze bunt by Maeda into two runs and a 4-0 lead.Despite not being a save situation, Roberts turned to Kenley Jansen for the ninth inning, giving him a chance “to dust that one off him” after giving up a game-tying two-run home run in the ninth inning Friday night.Jansen retired the side without incident.“I felt so much better today — my direction, everything was better,” said Jansen who threw a rare 10-pitch bullpen session before the game, looking to get the command of his cut fastball back. “I felt the ball was coming out so much better.”last_img read more

  • Women’s World Cup 2019: Cameroon defeats New Zealand to reach round of 16

    first_img Women’s World Cup 2019: Updated group stage results and standings 6 – There have been six own goals scored at the 2019 Women’s World Cup, already as many as were scored in the whole of the previous tournament in 2015. Lapse. #FIFAWWC #CMRNZL pic.twitter.com/88cm6CfzKH— OptaJoe (@OptaJoe) June 20, 2019Cameroon made their intentions clear from the off ⁠— Gabrielle Onguene curling wide before forcing a smart stop out of New Zealand goalkeeper Nayler.And after Onguene had squandered another chance, Cameroon had a deserved lead 12 minutes into the second half.Having returned to the field after she had been taken off on a stretcher due to cramp, Nchout excellently controlled Yvonne Leuko’s clipped pass before sending a neat finish into the bottom-right corner.Nayler proved New Zealand’s hero soon after, twice denying Onguene before keeping out Alexandra Takounda’s follow-up.Annette Ngo Ndom’s brilliant stop from Betsy Hassett’s header looked to have secured Cameroon’s passage, but their hopes seemed to have been dashed when Awona volleyed Katie Bowen’s cross into her own net. Erin Nayler had pulled off three superb saves in quick succession to keep New Zealand in with a chance and those stops paid dividends when Awona sliced into her own net in the 80th minute.But, in the final seconds of stoppage time, Nchout came up with a moment of magic, twisting her way into the area before slotting beyond Nayler and booking Cameroon’s place in the knockout stages with the last kick of the game. Related News Ajara Nchout scored a sensational last-minute goal to secure Cameroon’s progression to the last 16 of the Women’s World Cup with a 2-1 win over New Zealand.Both sides headed into Tuesday’s contest needing a win to stand any chance of progressing from Group E and though Nchout opened the scoring, Aurelle Awona’s calamitous own goal looked to be sending both teams out.center_img Women’s World Cup 2019: Canada’s Christine Sinclair makes history, but Netherlands finishes atop Group E But Nchout took matters into her own hands and, with just seconds remaining, she curled in a sublime strike at the culmination of a wonderful run to send Cameroon through as one of the best third-placed sides. Key Opta Facts- New Zealand remain winless at the World Cup (D3 L12), failing to advance from the group stage in each of their five appearances in the competition (1991, 2007, 2011, 2015 and 2019).- Their second-half equalizer was their first goal of the 2019 World Cup.- Nchout became the second Cameroon player to score in multiple World Cups (2015 and 2019), after team-mate Onguene.last_img read more

  • 9 months agoBrighton winger Jahanbakhsh close to return

    first_imgBrighton winger Jahanbakhsh close to returnby Freddie Taylor9 months agoSend to a friendShare the loveBrighton are close to welcoming Alireza Jahanbakhsh back into the team.He was on the bench for Iran in the Asia Cup, as they won 2-0.His club will be hoping he can get some game time later in the tournament, as he is recovering from a hamstring injury he got in November.The club’s record buy has disappointed this season, managing only four Premier League starts and six substitute appearances.He has not managed a single league goal or assist in those games. About the authorFreddie TaylorShare the loveHave your saylast_img read more

  • What Facebooks privacy policy allows may surprise you

    first_imgNEW YORK, N.Y. – To get an idea of the data Facebook collects about you, just ask for it. You’ll get a file with every photo and comment you’ve posted, all the ads you’ve clicked on, stuff you’ve liked and searched for and everyone you’ve friended — and unfriended — over the years.This trove of data is used to decide which ads to show you. It also makes using Facebook more seamless and enjoyable — say, by determining which posts to emphasize in your feed, or reminding you of friends’ birthdays.Facebook claims to protect all this information, and it lays out its terms in a privacy policy that’s relatively clear and concise. But few users bother to read it. You might be surprised at what Facebook’s privacy policy allows — and what’s left unsaid.Facebook’s privacy practices have come under fire after a Trump-affiliated political consulting firm, Cambridge Analytica, got data inappropriately from millions of Facebook users. While past privacy debacles have centred on what marketers gather on users, the stakes are higher this time because the firm is alleged to have created psychological profiles to influence how people vote or even think about politics and society.Facebook defends its data collection and sharing activities by noting that it’s adhering to a privacy policy it shares with users. Thanks largely to years of privacy scandals and pressure from users and regulators, Facebook also offers a complex set of controls that let users limit how their information is used — to a point.You can turn off ad targeting and see generic ads instead, the way you would on television or in a newspaper. In the ad settings, you’d need to uncheck all your interests, interactions with companies and websites and other personal information you don’t want to use in targeting. Of course, if you click on a new interest after this, you’ll have to go back and uncheck it in your ad preferences to prevent targeting. It’s a tedious task.As Facebook explains, it puts you in target categories based on your activity. So, if you are 35, live in Seattle and have liked an outdoor adventure page, Facebook may show you an ad for a mountain bike shop in your area.But activity isn’t limited to pages or posts you like, comments you make and your use of outside apps and websites.“If you start typing something and change your mind and delete it, Facebook keeps those and analyzes them too,” Zeynep Tufekci, a prominent techno-sociologist, said in a 2017 TED talk .And, increasingly, Facebook tries to match what it knows about you with your offline data, purchased from data brokers or gathered in other ways. The more information it has, the fuller the picture of you it can offer to advertisers. It can infer things about you that you had no intention of sharing — anything from your ethnicity to personality traits, happiness and use of addictive substances, Tufekci said.These types of data collection aren’t necessarily explicit in privacy policies or settings.What Facebook does say is that advertisers don’t get the raw data. They just tell Facebook what kind of people they want their ads to reach, then Facebook makes the matches and shows the ads.Apps can also collect a lot of data about you, as revealed in the Cambridge Analytica scandal. The firm got the data from a researcher who paid 270,000 Facebook users to complete a psychological profile quiz back in 2014. But the quiz gathered information on their friends as well, bringing the total number of people affected to about 50 million.Facebook says Cambridge Analytica got the data inappropriately — but only because the app said it collected data for research rather than political profiling. Gathering data on friends was permitted at the time, even if they had never installed the app or given explicit consent.Ian Bogost, a Georgia Tech communications professor who built a tongue-in-cheek game called “Cow Clicker” in 2010, wrote in The Atlantic recently that abusing the Facebook platform for “deliberately nefarious ends” was easy to do then. What’s worse, he said, it was hard to avoid extracting private data.If “you played Cow Clicker, even just once, I got enough of your personal data that, for years, I could have assembled a reasonably sophisticated profile of your interests and behaviour,” he wrote. “I might still be able to; all the data is still there, stored on my private server, where Cow Clicker is still running, allowing players to keep clicking where a cow once stood.”Facebook has since restricted the amount of types of data apps can access. But other types of data collection are still permitted. For this reason, it’s a good idea to check all the apps you’ve given permissions to over the years. You can also do this in your settings.last_img read more

  • Bharti Airtel promoters, GIC set to subscribe half of Rs 32K cr rights issue

    first_imgNew Delhi: Promoters of Bharti Airtel along with Singapore government’s investment arm GIC Private Ltd will subscribe to over half of the proposed Rs 32,000 crore rights issue in a bid to infuse funds in the company. “The entire rights entitlement of promoter and promoter group of approximately Rs 167,857 million (Rs 16,785.7 crore) will be subscribed by them and GIC,” Bharti Airtel said in a statement Thursday. The statement further added that the promoter and promoter group will subscribe to Rs 117,857 million (Rs 11,785.7 crore) and GIC will subscribe to Rs 50,000 million (or Rs 5,000 crore) by way of renouncement in their favour. Also Read – Maruti cuts production for 8th straight month in SepOne of the promoters Singapore Telecommunications Ltd (Singtel) said it will infuse Rs 3,750 crore in Bharti Airtel by subscribing to the proposed Rs 25,000 crore rights issue of the company. Singtel announced that “it will subscribe to 170 million new shares in the Rs 250 billion rights issue by regional associate Bharti Airtel (Airtel) at an issue price of Rs 220 per share, for a total consideration of Rs 37.5 billion (approximately USD 525 million), representing the rights entitlement for its direct stake of 15 per cent”. Also Read – Ensure strict implementation on ban of import of e-cigarettes: revenue to CustomsWith this rights issue subscription, Singtel’s effective interest in Airtel will be 35.2 per cent and the company will continue to be the single largest shareholder in Airtel. The board of Bharti Airtel approved the rights issue to raise up to Rs 25,000 crore through the issuance of fully paid up shares at a price of Rs 220 per share and to raise an additional Rs 7,000 crore via the foreign currency perpetual bond issue. GIC has confirmed to subscribe to this renounced entitlement on behalf of Government of Singapore and Monetary Authority of Singapore. “The promoter and promoter group also reserves the right to subscribe either itself or through investors for additional shares in the Issue, including in the event of under-subscription by public, in accordance with the applicable laws,” the statement said. Airtel is in the process of appointing banks to execute this. “The rights issue reiterates the confidence of our shareholders in the competitive strength and sound business strategy of Airtel. It shall further strengthen our balance sheet with desired financial flexibility so as to meet future opportunities, particularly in the rapidly transforming Indian mobile market,” Gopal Vittal, MD and CEO (India & South Asia) – Bharti Airtel said. He said the fresh capital infusion will help the company to continue investments in future rollouts to build large network capacity and create content and technology partnerships to ensure the best customer experience.last_img read more

  • AAP-Congress alliance: RS MP Sanjay Singh to represent AAP in talks

    first_imgNEW DELHI: A day after twitter spat between Congress president Rahul Gandhi and AAP national convenor Arvind Kejriwal over alliance, on Tuesday the AAP appointed Rajya Sabha MP Sanjay Singh as a negotiator of the alliance talks between the two parties. “AAP has authorised Sanjay Singh to talk to the Congress. Rahul Ji should also authorise a Congressman who could sit with the AAP to form a strategy to defeat the BJP on all 18 (Delhi, Haryana and Chandigarh) seats,” said senior AAP leader and Deputy CM Manish Sisodia. Also Read – After eight years, businessman arrested for kidnap & murderWhile the Congress is unwilling to look beyond Delhi for the alliance, the AAP is keen that the two parties come together for Delhi, Haryana and Chandigarh. “The AAP is ready for any kind of talks on the 18 seats and the Congress should now show their interest on defeating the regime of Modi-Shah,” said Singh. According to sources, all eye is on Wednesday where final talks between AAP and Congress are likely to happen. Party sources also said that NCP Chief Sharad Pawar is also likely to seta with representatives of both the parties on the issue of alliance. Also Read – Two brothers held for snatchingsMeanwhile, Delhi AICC in-charge PC Chacko said that he would be only discussing the alliance between the parties in terms of Delhi because other states are beyond his purview. “Party president Rahul Gandhi has made it pretty clear that an alliance can be formed just in Delhi in a ratio of 4:3,” Congress Delhi in-charge PC Chacko said. He also said that People have expressed their doubts to us over AAP but despite that, Congress party has shown a big heart and for a common objective we have agreed to form an alliance in Delhi. Senior party leader Randeep Surjewala has made it clear on the party’s stand on alliance in other states. Responding the stand AAP Delhi unit convener Gopal Rai on Tuesday said that Rahul Gandhi is “giving excuses” to avoid forming an alliance with his party for the 2019 Lok Sabha Elections. “CM Arvind Kejriwal clearly stated that the party will do anything to defeat BJP in the Lok Sabha. Our party decided to form an alliance with other parties because people want to unseat BJP. I feel Rahul Gandhi is making excuses for not forming an alliance with us. If he is really serious, then the Congress must come forward and form an alliance,” he said.last_img read more

  • Chotia coal block output to reach 1 mtpa: Vedanta

    first_imgNew Delhi: Mining giant Vedanta Ltd has said that coal output from the mine located in Chhattisgarh will be increased to one million tonnes per annum as it looks to secure 90 per cent of its requirement from linkage and captive block.Bharat Aluminium (Balco), part of Anil Agarwal-led Vedanta Ltd, had bagged Chotia block during the first phase of coal mine auctions held in 2015. “Captive coal from Chotia block to be ramped up to 1.0 MTPA in near term,” Vedanta said in an investor presentation. Also Read – Commercial vehicle sales to remain subdued in current fiscal: IcraThe output from the captive mine stood at 0.45 million tonnes in the fourth quarter of last fiscal, it said. Stating that 72 per cent of coal requirement by the company was secured from linkage and captive block, Vedanta Ltd said that it was targeting “to secure 90 per cent of requirement”. The mine has a capacity of one million tonne per annum. Known for its high quality coal reserves, Balco had bid a price of Rs 3,025 per tonne during the auctions. Also Read – Ashok Leyland stock tanks over 5 pc as co plans to suspend production for up to 15 daysMentioning that there was a structural reduction in aluminium cost, the company said it achieved alumina peak run rate of 1.8 million tonnes per annum during FY 2019. The increased local bauxite supply met 30 per cent of the company’s requirement, it said. “Ramped-up Lanjigarh volume and local bauxite reduced alumina cost,” the firm added. Vedanta Ltd Tuesday reported a 33.8 per cent decline in consolidated net profit to Rs 2,615 crore for the March quarter, on the back of lower income. It had posted a consolidated net profit of Rs 3,956 crore in the corresponding quarter of FY 2018, the company had said in a filing to the BSE.last_img read more

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