Email Address Tags: Online Gambling Subscribe to the iGaming newsletter Lottery Online gaming software supplier Bede Gaming has been accepted as an associate member of the European Lotteries Association.Bede’s member status will be confirmed at the organisation’s General Assembly, which takes place from May 26 to 29 in Antwerp, Belgium.Alex Butcher, managing director of Bede, said membership of the organisation is a “significant endorsement of the quality and reliability” of the supplier’s services to the lottery industry.“It is a real honour to be selected into this prestigious organisation to represent and uphold the membership body’s high standards of service,” Butcher said.“The opportunities for lotteries in integrating with powerful and scalable digital platforms are clear and we look forward to extending our offering in the coming months.”Established in 1983, the European Lotteries Association serves as the umbrella organisation of national lotteries that operate games of chance for public benefit.Bede’s platform features more than 3,000 games and various marketing tools, as well as two sportsbooks, with both Kambi and SBTech live on the platform. Online gaming software supplier Bede Gaming has been accepted as an associate member of the European Lotteries Association. Bede secures European Lotteries Association membership Regions: Europe AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 14th March 2019 | By contenteditor Topics: Lottery
Pretoria Portland Cement Co. Ltd (PPC.zw) listed on the Zimbabwe Stock Exchange under the Building & Associated sector has released it’s 2011 presentation results for the half year.For more information about Pretoria Portland Cement Co. Ltd (PPC.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the Pretoria Portland Cement Co. Ltd (PPC.zw) company page on AfricanFinancials.Document: Pretoria Portland Cement Co. Ltd (PPC.zw) 2011 presentation results for the half year.Company ProfilePortland Holdings Limited, trading as PPC Zimbabwe, manufactures and markets quality cement and cement by-products for the construction industry in Zimbabwe, producing up to 1.8 million tons of cement per annum. Established in 1913, PPC Zimbabwe supplies customers in Zimbabwe, Botswana, Zambia and Mozambique. The company has three manufacturing plants that are regarded as the most modern operations in southern Africa; located in Colleen Bawn, Bulawayo and Harare. The company has interests in limestone mining, and manufacturing and distributing metallurgical-grade limestone, burnt lime and burnt dolomite; as well as the supply of ready-mix concrete, dry mortars and fly ash. Well-known PPC products available in Zimbabwe include SureBuild, Sureroad, Unicem and PMC. PPC Zimbabwe is listed on the Zimbabwe Stock Exchange
Longhorn Publishers Plc (LKL.ke) listed on the Nairobi Securities Exchange under the Retail sector has released it’s 2013 interim results for the half year.For more information about Longhorn Publishers Plc (LKL.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Longhorn Publishers Plc (LKL.ke) company page on AfricanFinancials.Document: Longhorn Publishers Plc (LKL.ke) 2013 interim results for the half year.Company ProfileLonghorn Publishers Plc publishes and sells educational and general books and distributes them through retail and ecommerce channels to customers in Kenya, Uganda, Tanzania, Malawi and Rwanda. Formerly known as Longhorn Kenya Limited, the company changed its name to Longhorn Publishers Limited in 2014. The company publishes reading material for all levels of education under five main brands; eLearning material, educational text books, fiction and nonfiction books and material for tertiary colleges and universities. Longhorn Publishers acquired the intellectual property of Sasa Sema Publications Limited and provides reference books, creative works, biographies and general knowledge books in either print or non-print (electronic) format. Longhorn Publishers is the only publisher with full approval by the Ministry of Education in Kenya and mandated to supply text books for 12 key subjects for secondary and primary schools. Longhorn eBooks store is a digital platform created by the publishing house and the largest eBook library in the Africa sub-region. The company head office is in Nairobi, Kenya. Longhorn Publishers Plc is listed on the Nairobi Securities Exchange
Manufacturers: American Standard, TOAPrincipal Architect:Intanon ChantipContractor:Pigad Consultant co., ltd.City:Khwaeng Hua MakCountry:ThailandMore SpecsLess SpecsSave this picture!© Peerapat WimolrungkaratRecommended ProductsGlassDip-TechDigital Ceramic Printing in Art & SignageWoodSculptformTimber Click-on BattensWoodEGGERLaminatesDoorsECLISSESliding Pocket Door – ECLISSE LuceText description provided by the architects. Located in a rapidly expanding zone of Bangkok city, this mixed-use building is a mere solution to what it means by the contemporary tropical urban living. Within a 320 square-meter compound, the obsolete existing house structure was leveled and a new 4-storey building was planned to suit new multi functional purposes – an architectural design office on the lower floor, a house for a small family on the upper floors, and an art collection space on the top floor. Save this picture!© Peerapat WimolrungkaratFrom the start the architect, who is also the owner, has come up with the concept “The Art of Living with Time.” Such an idea is to have the inhabitants joyfully grow old with the building and be inspired by the tropical environment, so that the building has to have strong relationships with “time and trees.” Consequently, the concept of time is conceived by how the architect can express the qualities of available local materials when they perpetually interact with the hot-humid climate in Bangkok. The 40% of the plot is dedicated for trees and the green space. This will of course lead to the part of joyful living, meaning that the layout and the space planning of each floor are specifically designed to provide the constant cross ventilation in order to create the thermal comfort, which would anticipate the reduction of energy consumption.Save this picture!© Peerapat WimolrungkaratSave this picture!Ground Floor PlanThe building has a simple rectangular form, which has the wide elevations oriented on the axis of North-South and the narrow elevations on East-West. With the height of 15-meter above the ground, the building outlook is composed by planar elements on 4 sides. However on the northern side, the plane is pushed out to create a double-layered façade for the fact that the space can open up to the constant day light, yet still has a shade to protect the rain. Then the form is intentionally carved into types of void that allow the natural lighting to poetically penetrate into the interior spaces. Save this picture!ElevationInstead of using the smooth and clean surfaces from the conventional cement plaster and paint for the exteriors, the architect chooses the rough and raw texture of the exposed cement block walls in order to anticipate stains to take place over time because that can create a unique harmony with the greenery. Moreover from the technical point of view, the use of the cement block walls is done by the double-layered implementation – the concrete block for the outer and the lightweight brick for the inner with air cavity in the middle – in which the walls are active as the heat insulation during the day and to keep the cool during the night.Save this picture!© Peerapat WimolrungkaratSave this picture!First Floor PlanSave this picture!© Peerapat WimolrungkaratOn the ground level a compact tropical garden is set to be the humidity generator of the site as well as to give a pleasant visual effect. Also on the other upper levels there are several pocket gardens at different terrace spots along with climbing trees vertically situated on a few facades. So the sum of all green areas can make refreshing visual relationships not just for the interiors and exteriors, but also for the lower level to the upper ones.Save this picture!© Peerapat WimolrungkaratProject gallerySee allShow less7th Advanced Architecture Contest, on the Theme of Responsive CityIdeasGo Inside BIG’s Converted Nazi Bunker in This 360 VideoVideosProject locationAddress:7 Thanon Seri Soi 9, Khwaeng Hua Mak, Khet Bang Kapi, Krung Thep Maha Nakhon 10240, ThailandLocation to be used only as a reference. It could indicate city/country but not exact address. Share Thailand 2016 Photographs: Peerapat Wimolrungkarat Manufacturers Brands with products used in this architecture project Area: 490 m² Year Completion year of this architecture project “COPY” “COPY” Year: CopyMixed Use Architecture, Apartments, Office Buildings•Khwaeng Hua Mak, Thailand Huamark09 Building / INchan atelierSave this projectSaveHuamark09 Building / INchan atelier Architects: INchan atelier Area Area of this architecture project Save this picture!© Peerapat Wimolrungkarat+ 31 Share Mixed Use Architecture CopyAbout this officeINchan atelierOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsMixed Use ArchitectureResidential ArchitectureHousingApartmentsOfficesOffice buildingsBangkokKhwaeng Hua MakThailandPublished on August 30, 2017Cite: “Huamark09 Building / INchan atelier” 30 Aug 2017. ArchDaily. Accessed 11 Jun 2021.
Tagged with: Events Ireland Howard Lake | 1 December 2008 | News Charity TV shows ‘bizarre and grubby’ Newspaper columnists in the Irish Times and Sunday Tribune have rounded on charity TV shows, describing them as bizarre and grubby.‘These shows give us a bizarre and grubby nightly routine in which celebrities use a few seconds to effectively ask the viewer to weigh up the merits of sick kids against, say, the plight of the homeless. It means that viewers who tune in for a bit of escapist rubbish are instead handed a deeply troubling philosophical conundrum to which there is no answer other than to vote for them all,’ wrote Shane Hegarty in the Irish Times.Hegarty says the success of the voting is down to charities getting the vote out and this may influence the celebrity when they nominate a charity, according to Hegarty.Hegarty says an unseemly row broke out this week over just when the charities nominated by Fáilte Towers contestants would get their money, and the size of the cheques they would receive. Don Baker, a participant in the show, complained that his nominated charity had not seen its cash yet, three months on, while other celebrities said that the sums raised were far less than expected.For its part, RTÉ – which donated its revenues from the phone calls to the charities – says that the show raised €169,000 for good causes and that it would be handing over that money during the next couple of weeks. After the phone operators were accused of profiting from previous shows, for this series they covered only their costs, giving any profits to the charities. Nevertheless, RTÉ won’t release details of how many calls it logged, saying that it is commercially sensitive information. This is not the case for British programmes.The Sunday Tribune’s Justine McCarthy has reported that some of the charities are unhappy at the rewards compared to the effort they have to put in. They mobilise people, print T-shirts and distribute flyers, so that some of the money raised can be needed to offset the cost of being involved in the first place.In 2006, Green TD Dan Boyle expressed his disappointment at the amount of money raised when he sang on Charity You’re A Star, and wondered if some of the mobile phone companies had made more out of it than the charities. Actor Una Crawford O’Brien claimed that the money raised for the National Children’s Hospital didn’t even cover the cost of the T-shirts and flyers printed in order to drum up a vote.Hegarty commented that some of the charities do quite well out of these programmes. Temple Street Children’s Hospital got €130,000 thanks to actor David Mitchell’s participation in You’re a Star.www.irishtimes.com 33 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.
AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 An ongoing direct debit: £181An occasional donation by debit card or credit card: £118Joined a charity as a member: £101Sent an occasional cheque by post/given a cheque in person: £94Given money through social events: £64An ongoing standing order: £57Through a giving network: £46Sponsored someone: £38Put money in a collection tin: £20Made a donation by text: £15Bacs’ charity sector specialist Graham Callaghan is urging charities to use Direct Debits to maximise the amount they raise from donors.He said: “Encouraging people to sign-up to Direct Debit could increase levels of giving, but it also makes it cheaper and more efficient for charities to process these payments, so it really is win-win.“The potential for increasing these benefits across the sector is significant and we can provide support to organisations in offering Direct Debit as a preferred payment option”.Photo: direct debit by Eelnosiva on Shutterstock.com About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Howard Lake | 25 October 2013 | News The average amount given to charity over a year by Direct Debit is worth substantially more than the average amounts given by the other top six most popular methods in the UK.The figures are based on research by Bacs Payment Schemes Ltd, the organisation behind Direct Debit in the UK. Its Bacs’ Family Finance Tracker looked at the charitable giving habits of 902 adults aged 16 or over in Great Britain. It found that 64% (582 adults) had made one or more charity donation during the past 12 months.Most popular methods of givingThe most popular methods of giving reported by donors were:Put money in a collection tin: 48%Sponsored someone: 32%An ongoing direct debit: 20%Given money through social events: 14%An occasional donation by debit card or credit card: 13%Sent an occasional cheque by post/given a cheque in person: 12%An ongoing standing order: 6%Made a donation by text: 6%Through a giving network: 5%Joined a charity as a member: 4%Highest value methods over a yearThe average amount donated by each method in the past 12 months yields a different order: Advertisement 54 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Tagged with: direct debit Individual giving regular giving Direct Debit is the most valuable type of donation over a year, says Bacs
News UpdatesPIL In J&K HC Challenges Centre’s Decision To Transfer Pending Service Matters Before J&K HC To CAT, Chandigarh [Read Petition] Akshita Saxena7 May 2020 8:53 AMShare This – xA PIL has been filed in the High Court of Jammu and Kashmir, challenging the Government notification whereby Chandigarh Bench of CAT has been conferred with the jurisdiction to adjudicate service matters relating employees of government of UT of J&K. The Notification issued by the Central Government on April 29, 2020 has the effect of transferring all service disputes pertaining…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?LoginA PIL has been filed in the High Court of Jammu and Kashmir, challenging the Government notification whereby Chandigarh Bench of CAT has been conferred with the jurisdiction to adjudicate service matters relating employees of government of UT of J&K. The Notification issued by the Central Government on April 29, 2020 has the effect of transferring all service disputes pertaining to the employees of the Union Territory of Jammu and Kashmir which are pending before the High Court or yet to be filed from the date of Notification, to CAT, Chandigarh. Impugning the notification on the below mentioned grounds, the PIL seeks constitution of a permanent Bench/ Benches (Circuit Benches) of Central Administrative Tribunal in the Union Territory of Jammu and Kashmir at Jammu and Srinagar. Technological & Economic Disability The Petitioner-Advocates Aditya Sharma and Rameshwar Padha have argued that it will be impossible for litigants/ Advocates in J&K to make a representation before the bench in Chandigarh due to geographic remoteness, financial constraints and unavailability of internet access. “The large parts of the Union Territory of Jammu and Kashmir are remote, inaccessible and even have no access to fast speed internet facilities due to the peculiar security threats as has been repeatedly admitted by the Respondents. The question of e-filling of cases and arguing cases by video conferencing by litigants and their advocates residing in those areas is a mere impossibility. Moreover the unemployed Youth would be severely handicapped Physically and financially to challenge selection matters before the CAT Chandigarh,” they have submitted. Moreover, they submitted that the cases to be transferred have not been digitalized by the High Court and as such it is impossible for any advocate practicing in the UT to pursue their cases by way of video conferencing or whatsapp calling. Further, they pointed out that 90% of the Advocates and Judges have no knowledge of computer and are severely disabled to file cases by way of e-mail and argue through videoconferencing. It has been asserted that the Government is “obliged” to provide justice in view of Article 39-A of the Constitution which enjoins it to ensure that opportunity for securing justice are not denied to any citizen by reason of “economic or other disabilities”. Fails Test of proportionality and reasonableness They have also submitted that the notification fails the “test of proportionality and reasonableness” inasmuch as CAT, Chandigarh doesn’t have sufficient benches and is already buried with pending matters. The Petitioners pointed out that over 1,100 cases are already pending before the CAT Chandigarh and simultaneously around 40,000 service matters are pending before the High Court of J&K are likely to be transferred to it. In these circumstances it was submitted, “CAT has a sanctioned strength of 65 members for dealing with more than 50 thousand cases and with the present transfer of cases the sanctioned strength would remain the same which is not in accordance with the test of Reasonability and proportionality as envisaged under the Article 14 of the Constitution of India.” The Petitioners fear that “the influx of 40,000 cases will not be listed for many years to come taking into account the working days and vacancy position of the Chandigarh Bench.” In this context they added that the notification defeats the objective with which Tribunals were first established, i.e., “meaningful and effective dispensation of justice”, and it also negates the right to speedy justice, a facet of Article 21 of the Constitution. Creates Confusion The Petitioners have pointed out that the status of J&K, regarding it being a UT or State is pending consideration before the Supreme Court in Mohd. Akbar Lone & Anr. v. Union Of India & Ors., and other connected matters. In case the outcome of these proceedings is to restore the “State of J&K”, the Petitioners submitted, all the service matters will have to be restored to the J&K High Court, leading to much chaos and uncertainty. “Consequent legal effect [of restoration of statehood] would be that the jurisdiction of the CAT would be outsted pertaining to the service disputes of the employees of the State of J&K who are at present the employees of the UT of J&K. This would necessarily means that in case the present service petitions Pending before the Hon’ble Court are transferred to CAT Bench Chandigarh in pursuance of the impugned notification then the same would be likely to be again re transferred back to the Hon’ble High Court,” the Petitioners submitted. Accordingly, the Petitioners have sought that the impugned notification be quashed and permanent benches be established in the cities of Jammu and Kashmir. The plea has been filed through Advocate Gagan Basotra. Click Here To Download Petition Read Petition Next Story
News UpdatesRBI Must Monitor Implementation Of Loan Moratorium Circular; Borrower Entitled To Seek Moratorium As A Matter Of Right For Continuity Of Business : Karnataka HC Mehal Jain10 July 2020 2:37 AMShare This – xThe High Court of Karnataka has held that a borrower is entitled to seek loan moratorium on the basis of the Reserve Bank of India’s March 27 circular, on the ground that the non-grant of it would affect the continuity of buisness.While acknowledging that the grant of moratorium as per the RBI circular is the discretion of the bank, the Court stated that it is “mandatory” for the banks to…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 High Court of Karnataka has held that a borrower is entitled to seek loan moratorium on the basis of the Reserve Bank of India’s March 27 circular, on the ground that the non-grant of it would affect the continuity of buisness.While acknowledging that the grant of moratorium as per the RBI circular is the discretion of the bank, the Court stated that it is “mandatory” for the banks to ensure that continuity of business is not affected due to the non-grant of moratorium.”…though the Circular issued by the RBI dated 27.03.2020 is discretionary in so far as the power to grant or not a moratorium by a bank, it is mandatory for the Bank to ensure the continuity of viable businesses, in that, the non-grant of a moratorium should not result in adversely affecting the survival and continuity of a viable business”, observed a bench of Justice Suraj Govindaraj.The Court added that borrowers can seek the moratorium as a matter of right if they could establish that the growth and continuity of their business would be affected.”All borrowers are eligible to seek for a moratorium, if a borrower were to seek for grant of a moratorium on the ground that continuity of its business would be affected and establish the same, the borrower would as a matter of right be entitled for the grant of moratorium so that such continuity is not adversely affected”, the bench added.The court also directed the RBI to monitor the implementation of the Circular, including verification of whether there are Board-approved policies formulated by each of the lenders, direct all the banks to submit the Board-approved policies for approval to the RBI, to approve such board-approved policy, verify if such a board-approved policy contains objective criteria, and to set up a proper and effective grievance redressal forum for any aggrieved borrower to approach on account of the improper or non-implementation of the Policy and/or Circular etc.”The contentions of the RBI that the dispute is between the Petitioner and Respondents No.5 to 7 is not acceptable since the dispute arises out of the implementation or not of a Circular issued by the RBI”, the bench observed.”Admittedly, there is no mechanism which created for redressal of grievance on account of improper implementation or non-implementation of the recovery package or the Circular”, observed the Court, noting that pending creation of such a forum, the court would have to intervene to provide for a remedy to the aggrieved Petitioner, to give effect to the principle, Ubi jus ibi remedium.The Court directed the HDFC Bank Ltd, Federal Bank Ltd and Aditya Birla Finance Ltd to grant moratorium to the petitioner for three months from 01.03.2020 to 31.05.2020 as also for the extended period from 01.06.2020 to 31.08.2020. Further, the bench restrained these institutions from either jointly or severally recovering the loan repayment instalments/EMI due in respect of loan accounts of the petitioner during the period of moratorium. There was a further direction to reverse the recovery of loan repayment instalments/EMI already effected including that for the months of March and April, 2020 and transfer the same to the Current Account of the Petitioner.FactsThe Petitioner was in the business of running an Information Technology Park (Technology park or Tech Park) and a 5 star Hotel, both of which have been constructed on the land belonging to the Petitioner.The Petitioner had availed term loan facilities from Respondent Nos.5 to 7 viz., HDFC Bank Limited, Federal Bank and Aditya Birla Finance Limited, totalling up to Rs.475 crores.In view of the lockdown and other measures announced by the Union of India and the State Government, the Petitioner was constrained to shut down its hotel business since the same could not be carried out adhering to the social distancing. However, the Tech Park was being functioned by the tenants of the Tech Park by following the applicable laws. In view of the shut down of the hotel business, the revenues of the Petitioner was adversely effected and as such, the Petitioner applied to Respondents seeking for grant of moratorium “However, Respondent No.5-HDFC Bank vide its letter dated April 6th 2020 had informed the Petitioner that there were rentals which were being received by the Petitioner from the Tech Park, hence the moratorium could not be extended to the Petitioner and therefore rejected the said application”, records the Bench.The judgment further narrates that Respondent No. 5 post rejection of the moratorium application made by the Petitioner, debited the amounts due to it from and out of the Escrow Account wherein the lease rental amount were being deposited by the concerned tenants. This was also followed up with similar debiting by Respondent No.6, debiting being made for the EMIs payable for the months March and April, 2020.Subsequently, Respondent No.7 informed the Petitioner that its loan was secured by way of a pari passu charge and though a request had been made by the Petitioner to all three lenders, Respondent Nos.5 and 6 had been unilaterally appropriating the dues from the rents received from the Technology Park without sharing any portion of the cash flow with Respondent No.7. They suggested that they could consider the request of the Petitioner for moratorium along with other lenders provided Respondent No.5 shares the cash flow in the escrow account proportionately.When the complaint filed by the Petitioner before the Banking Ombudsman was taken up, the Federal Bank-Respondent No.6 submitted that in principle it has no objection for extension of a moratorium to the Petitioner subject however to Respondent No.5 extending a moratorium. In view of the above, the Petitioner once again approached the Respondent No.5 by submitting a representation to consider the request of a moratorium favourably, which was not so considered.”It is in the above background and aggrieved by said actions on the part of the Respondent Nos.5, 6 and 7 that the Petitioner is before this Court”, narrates the Single Bench.Also Read : Writ Petition Maintainable Against Private Bank For Enforcement Of RBI Circular On Loan Moratorium : Karnataka HC [Read Order]Is the Circular issued by the RBI dated 27.03.2020 mandatory, directory or discretionary? Whether the grant of a moratorium is at the discretion of the Bank or as a corollary would it be a right to be exercised by the borrower? “A perusal of the Circular indicates that permission is granted to the banks concerned to grant moratorium of three months as regards the payment of all instalments falling due between March 1st 2020 and May 31st 2020”, noted the bench. It deciphered that the permission is one which is accorded to a bank or lending institution to permit a moratorium, is on account of the fact that without RBI permitting the same, a bank of its own accord is prohibited from granting any moratorium to a borrower. The Bench observed that the discretion to grant such a moratorium is that of the bank on the basis of a Board approved Policy containing objective criteria made available in the public domain. “The consequence of such grant of moratorium is covered by the second part of Para 2 which states ‘The repayment schedule for such loans as also the residual tenor, will be shifted across the board by three months after the moratorium period'”, noted the Court. Besides, it reflected that the Circular more particularly Para 2,4 and 8 would have to be read along with the statement of development and regulated Policy released by the RBI on 27.03.2020, which inter alia addresses the stress in the financial condition or rather distress caused to the economy by Covid-19 inter alia to ensure the continuity of viable businesses. “Thus, the exercise of discretionary power by the Bank or lending institution is predicated on ensuring the continuity of the business of a borrower. The decision of the Bank or lending institution if, were to, fall foul of this intention, then that decision would be contrary to the Policy as also the Circular”, inferred the bench. The bench took the answers to FAQs, as posted online by the various banks, to indicate that all corporate, as well as SME customers, are eligible for a moratorium and it is for the customer to choose whether to avail a moratorium, that is, to say that the offer for a moratorium having been made by the Bank, it is for the customer to accept the moratorium by choosing to do so and making an application in that regard. Once such a choice is made and an application was submitted, the rest of the process is automatic. “Once the banks have in the public domain on their respective websites expressed their solidarity with all their customers and stated that all the customers are eligible for grant of a moratorium, in accordance with RBI guidelines, it is not permissible for such banks to nit-pick and later on, refuse the grant of a moratorium, to the Petitioner, who is otherwise eligible”, remarked the bench. The Court said that both the RBI and the banks have held out that all customers are eligible for a moratorium. The availing of or otherwise of the moratorium is at the sole discretion of the borrower more so when the borrower would be required to make payment of additional interest, during the said moratorium period. There being no waiver of interest and or the principal amount by the mere grant of a moratorium. “Thus, though the Circular issued by the RBI dated 27.03.2020 is discretionary in so far as the power to grant or not a moratorium by a bank, it is mandatory for the Bank to ensure the continuity of viable businesses, in that, the non-grant of a moratorium should not result in adversely affecting the survival and continuity of a viable business”, ruled the bench.Can a request made by a borrower be rejected by a lender on the ground that the loan of the lender is structured and therefore, the lender can recover the amounts due on the making of such structured loan like an Escrow account? “I hold that Circular is applicable to all loans/advances and facilities extended by a lending institution, including structured loans”, declared the Judge. Where multiple banks are involved in a loan transaction, can one Bank deny the extension of moratorium, when another is willing to extend the benefit of a moratorium? “Once all the eggs are taken away by Respondents No.5 and 6, the default as regards the loan to Respondent No.7 would automatically result in the classification of the loan account of the Petitioner with Respondent No. 7 as an NPA, thus in effect killing of the golden goose”, articulated the bench. It proceeded to rule that the Respondents are required to ensure the survival and continuance of the Petitioner and its business. “Thus, I’am of the considered opinion that one Bank cannot deny the extension of a moratorium, when another or others are willing to extend the benefit of a moratorium”, the court held.Case Title : Velankani Information Systems Ltd vs Union of India and others. Click here to download judgmentNext Story
iStock/Thinkstock(MIAMI) — A rookie North Miami Beach Police officer has been relieved from duty and charged with aggravated battery after she allegedly kicked a woman 8 months pregnant in the stomach during an altercation on Miami Beach on Wednesday night, authorities said.After she was kicked, the victim, identified by ABC Miami affiliate WPLG as 27-year-old Evoni Murray, was in “severe pain” and began having contractions, according to an arrest report from the Miami Beach Police Department. She was then transferred to Mount Sinai Medical Center, where she gave birth shortly after arriving, the report states.The baby’s due date had been set for Aug. 4, and Murray was described as “visibly pregnant,” according to the police report. Officer Ambar Pacheco, 26, told police she retaliated after Murray’s boyfriend allegedly kicked her sister in the face.“I saw red and beat the s— out of her,” Pacheco said, according to the arrest report. Pacheco later told police that she “doesn’t know who,” but she kicked “somebody,” the report states.Murray had been meeting up with her boyfriend on in Miami Beach on Washington Avenue and Espanola Way around 8:30 p.m. after he had just gotten out of work at a burger restaurant down the block, WPLG reported. In an interview with CBS Miami affiliate WFOR, Murray denied that her boyfriend, 40-year-old Joseph Predelus Jr., kicked Pacecho’s sister.“Why would he kick a female for if she wasn’t doing anything?” Murray said. “He was just trying to restrain the young ladies from doing anything to me or his child.”Murray believes that Pacheco and his sister thought she and Predelus were “talking about them,” describing the women as “belligerent” and “loud.”“They basically tried to jump me because they thought I said something,” Murray told WFOR. Predelus also told WFOR that the altercation was unprovoked.“We didn’t have no problems with you,” he said.After the alleged attack, the parents got to the hospital in the “nick of time,” Predelus told WFOR. A healthy baby boy named Joseph Predelus III was born, Murray said. Pacheco, who has been with the department for less than a year, was relieved of duty as of Thursday pending an internal affairs review and a decision from the state attorney’s office on whether to file charges, Major Richard Rand, public information officer for the North Miami Beach Police Department, told ABC News. She will not be paid during that time, Rand said.The department will review in Pacheco’s personnel records whether she disclosed that she had been arrested at 18 years old for petty theft and whether that charge had been cleared by the department when she was hired, WPLG reported. The petty theft charge was dismissed after Pacheco attended a pre-trial diversion program, according to WPLG. Murray said it “troubles her” that someone who’s “supposed to be protecting and serving” was the person who hurt her.“No matter who you are, what occupation you have, battery, fighting, putting your hands on someone else should not be allowed,” she told WFOR.ABC News could not immediately reach Pacheco for comment. It is unclear if she has retained an attorney.Copyright © 2018, ABC Radio. All rights reserved.