Tags: NULL Show Comments ▼ whatsapp Thursday 3 February 2011 8:25 pm KCS-content Share EXECUTIVES at JP Morgan Chase suspected that Bernard Madoff was running a Ponzi scheme almost 18 months before he was charged with defrauding his investors out of $50bn (£35bn), claims a US court filing. Bankers got blunt warnings about the convicted fraudster but ignored them to protect JPM’s own interests, claims Irving Picard, the trustee seeking to recoup $6.4bn for Madoff investors, in court papers that were unsealed yesterday.Madoff was sentenced to 150 years in jail in 2009 for masterminding the massive fraud.JP Morgan Chase said yesterday the claims were unfounded, adding: “[We] did not know about or in any way become a party to the fraud orchestrated by Bernard Madoff.” It added: “Madoff’s firm was not an important or significant customer in the context of JPMorgan’s commercial banking business.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Madoff case accuses JPM Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof whatsapp
SBM Holdings Ltd (SBMH.mu) listed on the Stock Exchange of Mauritius under the Banking sector has released it’s 2007 annual report.For more information about SBM Holdings Ltd (SBMH.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the SBM Holdings Ltd (SBMH.mu) company page on AfricanFinancials.Document: SBM Holdings Ltd (SBMH.mu) 2007 annual report.Company ProfileSBM Holdings Limited is licenced as a commercial bank by the Bank of Mauritius and provides personal banking products and services, including savings accounts and term deposits; home, personal, educational loans, auto lease for cars and prepaid, debit, and credit cards. The bank also provides corporate and institutional banking products and services comprising working capital finance and project finance, as well as finance for the acquisition and installation of energy efficient and renewable energy equipment. SBM Holdings Limited together with its subsidiary businesses in Kenya, Mauritius, Madagascar and India, is known as SBM Group. SBM Holdings Limited is listed on the Stock Exchange of Mauritius.
Ocado shares are falling today. Is this FTSE 100 firm’s bubble finally bursting? Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Paul Summers I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Image source: Getty Images. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Paul Summers has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Simply click below to discover how you can take advantage of this. Shares in online supermarket Ocado (LSE: OCDO) were down over 5% in early trading this morning. That’s despite the business releasing a set of fourth-quarter figures that would turn most FTSE 100 firms green with envy. Is my long-held suspicion that the shares are overbought finally ringing true, or is this a mere short-term blip?5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Ocado sales soarThis morning’s numbers relate to Ocado’s retail arm — the joint venture it formed with battered former FTSE 100 member Marks & Spencer back in February 2019.Thanks in part to another lockdown, retail revenue soared 35% over the 13 weeks to 29 November to just under £580m. According to the company, this compares favourably to the normal peaks and troughs experienced before the coronavirus arrived. It also suggests customers have been receptive to the firm’s switch in trading partners, to M&S from Waitrose in September.Ocado received an average of 360,000 order per week over the period — up 3% from Q4 2019. Despite the additional demand, it was able to achieve “high rates of on-time customer delivery and low rates of substitutions,” according to Retail CEO Melanie Smith. The average order size was £133 — evidence, Ocado believes, that shoppers’ behaviour was continuing to “normalise.“Priced in?It seems fair to say Ocado shares have been one of the better FTSE 100 buys in 2020. Those placing the stock in their shopping basket at the beginning of January would be sitting on a gain of around 75%. That’s after taking today’s fall into account! The question is, how much of this good news is now priced in?Based on this morning’s reaction. I’d say quite a lot, especially as the company raised earnings guidance again today. It now expects full-year earnings to be “over £70m” compared to its previous prediction of over £60m. And yet traders weren’t impressed!Part of this may be explained by the fuzzy outlook. Within today’s statement, Ocado said sales and earnings growth in the next financial year will depend on how quickly trading normalises. It’s also dependent on when three new warehouses become operational. These are expected to add 40% more capacity to the business.Market minnowBut is this reaction really that surprising? After all, Ocado is still trading at a loss, due to the huge investment it’s needed to make over the years. As impressive as its operations are, the FTSE 100 company is already valued at over £17bn. That’s the sort of staggering valuation we’d expect from flash (overhyped) US tech stock. Sure, Ocado might utilise market-leading software, but no share is worth buying at any price. On top of this, it’s worth remembering Ocado doesn’t operate in a vacuum and the grocery market remains as cut-throat as ever. Depending on how the UK economy fares in 2021, it’s possible more people will switch away from M&S to cheaper options out of necessity. It’s not as if Ocado has a commanding presence either. In November, it had just a 1.7% share of the UK market, according to Kantar. FTSE 100 peer Tesco, on the other hand, had 27%. Its valuation is £22bn — only £5bn more than Ocado. Considering the above, I’m still giving Ocado shares a wide berth as an investor. For me, there are far better opportunities elsewhere in the market. The bubble may finally be bursting. Enter Your Email Address Paul Summers | Thursday, 10th December, 2020 | More on: OCDO “This Stock Could Be Like Buying Amazon in 1997”
Captain’s run: Leinster players stretch their legs yesterday at Aviva Stadium, the match venue (Inpho) Here’s how to find a reliable live stream for Leinster v Saracens wherever you are.How to watch Leinster v Saracens from outside your countryIf you’re abroad, but still want to watch your local Champions Cup coverage, like Leinster v Saracens, you can do so by using a VPN – Virtual Private Network. VPNs allow you to get around any geo-blocking by changing your IP address so you appear in a different location and can watch the same legal Champions Cup live stream you would at home.Our friends at TechRadar have tested hundreds of VPN and recommend ExpressVPN, which is easy to use, has strong security features and allows you to watch on several devices at once, including smart TVs and phones, iPads, tablets, PCs and Macs.Plus, ExpressVPN comes with a 30-day money-back guarantee. You can try it out for a month for free or sign up for an annual plan and get three months free.Check out ExpressVPNLeinster v Saracens live stream: How to watch from the UK and IrelandLeinster v Saracens, which kicks off at 3pm on Saturday, will be shown live on BT Sport 3 in the UK. If you don’t have a BT contract but want to watch the match, don’t worry because you can still easily watch it online.That’s because BT Sport has a contract-free monthly pass that allows you to get instant access to all four of their sport channels for just £25. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS Leinster v Saracens live stream: How to watch from anywhereThis weekend’s European Champions Cup quarter-finals start with a bang – a rerun of last year’s final (3pm). Saracens won 20-10 that sunny May day in Newcastle but since then their world has caved in. If they are to end Leinster’s 25-match winning streak this afternoon in Dublin, it will take one of the great European performances.That’s because of the haemorrhaging of players that followed the salary cap scandal. Nine internationals have moved on, some of them on loan, since Saracens squeezed into the knockout stage back in January. In addition, fly-half and England captain Owen Farrell is suspended following his suspension for a high tackle.Farrell’s absence means Alex Goode steps up to ten from his preferred full-back position, with 20-year-old Manu Vunipola his understudy on the bench. The starting XV still contains 12 internationals, with Alex Lewington, Michael Rhodes and Jackson Wray – making his 250th appearance for the club – the uncapped trio.Milestone: Saracens’ Jackson Wray makes his 250th appearance for his boyhood club (Getty Images)So Saracens’ problems might come deep into the game because their reserve strength doesn’t match the riches in the opposition camp. Josh van der Flier, Man of the Match in Leinster’s Pro14 final win, is one of those consigned to the bench as the Irish province shuffle their vast resources following their 27-5 defeat of Ulster.Johnny Sexton, World Rugby Player of the Year two years ago, got just 21 minutes in that match and returns to captain a side brimming with class and confidence. They breezed through their European pool with 28 tries and have become savagely hard to score against. They looked only mildly uncomfortable against Ulster’s offloading game, which is not Sarries’ preferred style in any case.Leinster’s malfunctioning lineout was their chief concern. In the hope of rectifying that, they have recalled Sean Cronin for the clash at the Aviva Stadium, with Ronan Kelleher demoted after struggling with his throwing. Will Connors, surely destined for his Ireland debut this autumn, will bring his chop tackles to the mix at No 7.Both starting: wing Hugo Keenan and openside Will Connors make their European debuts for Leinster (Inpho)Leinster have won three of their past four European meetings with Saracens and eight of their previous nine quarter-finals. Victory today would be their 30th in 37 knockout games in league and Europe over the past decade. Saracens, lest we forget, have won three of the past four European titles. But Leinster have a fifth crown in their sights, which would put them out on their own above Toulouse.Can they be stopped? Goode certainly thinks so. “We are the last team to beat them and they’re aware of that,” he said. “We hope it sits in their minds that we have the capability to beat them. It’s about us making sure we have the right mindset (so that) we attack the game and don’t just sit back and let them come at us.”Defeat for Saracens would mean a last European hurrah for Brad Barritt and Richard Wigglesworth, two magnificent players over a prolonged period.Both men played in last year’s final, when Sarries fought back from 10-0 down to win after tries by Sean Maitland and Billy Vunipola. You can watch highlights of that match below. Today’s winners will meet Clermont or Racing in the semi-finals.Leinster: Jordan Larmour; Hugo Keenan, Garry Ringrose, Robbie Henshaw, James Lowe; Johnny Sexton (capt), Luke McGrath; Cian Healy, Sean Cronin, Andrew Porter, Devin Toner, James Ryan, Caelan Doris, Will Connors, Jack Conan.Replacements: 16 Ronan Kelleher, 17 Ed Byrne, 18 Michael Bent, 19 Ryan Baird, 20 Josh van der Flier, 21 Jamison Gibson-Park, 22 Ross Byrne, 23 Rory O’Loughlin.Saracens: Elliot Daly; Alex Lewington, Duncan Taylor, Brad Barritt (capt), Sean Maitland; Alex Goode, Richard Wigglesworth; Mako Vunipola, Jamie George, Vincent Koch, Maro Itoje, Tim Swinson, Michael Rhodes, Jackson Wray, Billy Vunipola.Replacements: 16 Tom Woolstencroft, 17 Richard Barrington, 18 Alec Carey, 19 Callum Hunter-Hill, 20 Calum Clark, 21 Aled Davies, 22 Manu Vunipola, 23 Dominic Morris. We meet again: Alex Goode kicks through during Saracens’ win over Leinster in last year’s final (Getty) The odds have swung in Leinster’s favour since being toppled by today’s opponents in last year’s final. What a cracking way to launch the Champions Cup quarter-finals Get a BT Sport Monthly PassIf you’re from the UK but are overseas when Leinster v Saracens takes place, you can get your normal live stream but you’ll need a VPN – see the information above.Leinster v Saracens live stream: How to watch from FranceTo watch Leinster v Saracens (kick-off 4pm) in France, beIN Sports is the place to go as they are the main rights holders. It costs €15 a month to access the coverage or if you commit to six months you get a discount of €12 a month.beIN Sports offersLeinster v Saracens live stream: How to watch from EuropeIf you’re in Austria, Germany, Italy or Switzerland, you can watch Leinster take on Saracens (kick-off 4pm) through the live and on-demand streaming service DAZN.Leinster v Saracens live stream: How to watch from the USAIf you live in the States, the official broadcaster of Champions Cup matches is NBC, with matches streamed on NBC Sports Gold so you can watch them anytime and anywhere.Leinster v Saracens will kick off at 10am EST and 7am on the West Coast.The NBC Sports Gold Pass for rugby is $79.99 and includes coverage of the Gallagher Premiership, European Champions and Challenge Cups, and Guinness Six Nations.Leinster v Saracens live stream: How to watch from CanadaFor those in Canada, the live and on-demand streaming service DAZN shows the Champions Cup and you can watch Leinster v Saracens at 7am on the West Coast.Leinster v Saracens live stream: How to watch from AustraliaFor those in Australia, a subscription to digital rugby network RugbyPass allows you to watch Leinster v Saracens at midnight (AEST). Subscriptions start from US$4.99 a month.RugbyPass Champions Cup coverageLeinster v Saracens live stream: How to watch from New ZealandSpark Sport, the live and on-demand streaming service, has the rights to show Leinster v Saracens in New Zealand. It kicks off at 2am on Sunday morning.It costs $24.99 for a monthly subscription and you can also sign up for a seven-day FREE trial.Spark Sport detailsLeinster v Saracens live stream: How to watch from South AfricaSuperSport has the rights to broadcast the Champions Cup in South Africa and you can watch Leinster v Saracens at 4pm on SuperSport CSN and SuperSport Rugby.There are various DStv packages available that give access to SuperSport, ranging from EasyView, with access to Blitz, to Premium, with all ten sports channels.Leinster v Saracens live stream: How to watch from elsewhereEPCR have launched an OTT service, epcrugby.tv, so you can stream live Champions Cup matches outside of its core broadcast territories (UK & Ireland, France, USA, Malta, Spain, Andorra and Sub-Saharan Africa).It’s €2.99 to watch a single Champions Cup match or you can buy a season pass to watch all of the remaining games of the 2019-20 campaign for €11.99. Or if you want to watch both the Champions and Challenge Cups, it’s €17.99 for a season pass for the rest of 2019-20.Find out epcrugby.tv hereWe recommend VPN services in the context of legal recreational uses. For example:Accessing a service from another country (subject to the terms and conditions of that service)Protecting your online security and strengthening your online privacy when abroadWe do not support or condone the illegal or malicious use of VPN services. Consuming pirated content that is paid-for is neither endorsed nor approved by Future Publishing. Can’t get to the shops? You can download the digital edition of Rugby World straight to your tablet or subscribe to the print edition to get the magazine delivered to your door. Follow Rugby World on Facebook, Instagram and Twitter.
Home Indiana Agriculture News Fed Signals Economic Uncertainty, Future Interest Rate Cuts Could Follow The Federal Reserve bank left the benchmark interest rate unchanged following a Wednesday meeting, but amid economic uncertainty, signaled that future cuts could be warranted. During a news conference following the meeting, Fed chairman Jerome Powell stated that due to uncertainties in the economic outlook, the Committee will “closely monitor” the economy and “act as appropriate to sustain the system.” The central bank left the target range for the federal funds rate at 2.25 to 2.5 percent. Worrisome factors include the uncertainty in trade with China and others, as the Trump administration works through crafting and implementing new trade agreements.President Trump has previously argued that the Fed should cut rates, even considering removing Powell from his position, which Trump nominated him for. Trade could improve, however, lessening the worry, as hopes are growing Trump and China’s President can resume negotiations next month starting with a meeting at the G20 Summit. Unchanged, or lower interest rates, may reduce worry in farm country, regarding the depressed farm economy, as well. SHARE Facebook Twitter Facebook Twitter SHARE Previous articleIndiana FFA State Officer Candidates Await Announcement ThursdayNext articleFind Local Favorites at Indiana Grown’s Monumental Marketplace NAFB News Service By NAFB News Service – Jun 19, 2019 Fed Signals Economic Uncertainty, Future Interest Rate Cuts Could Follow
News December 26, 2018 First anniversary of blogger Wu Gan’s conviction Receive email alerts RSF_en Help by sharing this information June 2, 2021 Find out more Organisation April 27, 2021 Find out more Reporters Without Borders (RSF) calls on the international community not to forget Wu Gan, a Chinese blogger who was sentenced to eight years in prison exactly a year ago for criticizing corruption within the Communist Party’s ranks. ChinaAsia – Pacific Condemning abuses CorruptionImprisonedInternetCitizen-journalistsFreedom of expression to go further ChinaAsia – Pacific Condemning abuses CorruptionImprisonedInternetCitizen-journalistsFreedom of expression News China: Political commentator sentenced to eight months in prison Follow the news on China Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes Wu received the eight-year jail sentence on a charge of “subverting state power” from a court in the northern city of Tianjin on 26 December 2017, after 952 days in preventive detention. Banned from receiving family visits until next February, he has reportedly developed hypertension and a heart ailment since his arrest in 2015.Wu is famous in China for taking up the case of a hotel employee who fatally stabbed a Communist Party official who tried to rape her. He adopted the blog name of “Super Vulgar Butcher” after some of his online critics began calling him that. His Twitter account, which had more than 30,000 political comments, was finally deleted last month along with those of several other Chinese activists.“As China’s professional journalists are told to serve as the Party’s mouthpieces, the irreverent comments of bloggers such as Wu Gan are needed more than ever to put the official news coverage into perspective,” said Cédric Alviani, the head of RSF’s East Asia desk. “The determination with which the government tries to rid the Internet of such comments is the best evidence of their importance.”Wu was arrested on 19 May 2015 in a round-up of more than 200 human rights lawyers and activists. Several members of this group, dubbed “709,” received prison sentences but Wu was given a heavier sentence than anyone else, almost certainly because he refused to plead guilty.One of the world’s biggest jailers of professional and non-professional journalists, with more than 60 currently detained, China is ranked 176th out of 180 countries in RSF’s 2018 World Press Freedom Index, a position it has held for several years. News News China’s Cyber Censorship Figures March 12, 2021 Find out more
News Reporters Without Borders reiterates its call for the withdrawal of all proceedings against two journalists who are to be tried tomorrow in the southwestern province of Phuket on charges of contravening the Computer Crimes Act and defaming the Royal Thai Navy for quoting from a Reuters special report on the smuggling of Rohingya refugees from neighbouring Burma.The two journalists are Alan Morison, the Australian editor of the Phuket-based news website Phuketwan, and Chutima Sidasathian, a Thai reporter who works for the site.The case was brought by Naval Capt. Panlob Komtonlok with the support of Admiral Polawat Sirodom, the navy’s deputy commander. Morison and Chutima are facing a possible five-year jail sentence and fine of 100,000 bahts (3,000 US dollars) under the Computer Crimes Act and another two years in prison for criminal defamation.“Taking Phuketwan’s journalists to court is absurd,” said Benjamin Ismaïl, the head of the Reporters Without Borders Asia-Pacific desk. “If the navy want to dispute the Reuters special report, which has just won a Pulitzer Prize, it can publicly give its version of events and demand the right of reply.“By using the Computer Crimes Act to intimidate journalists, the navy is just making it obvious that it wants to conceal this sensitive information and deter any comments on this humanitarian scandal. We urge the court not to proceed with this improper complaint.”Ismaïl added: “This case highlights the urgent need for reform of the Computer Crimes Acts, which is responsible for frequent violations of freedom of information by the authorities. It is also essential that the international media operating in Thailand should give this trial extensive coverage despite government pressure to ignore it.”The special report by Reuters journalists Jason Szep and Andrew R.C. Marshall on Thai trafficking in Burma’s refugees was awarded a Pulitzer Prize on 14 March for “courageous” reporting on the Rohingya and the “predatory human-trafficking networks” to which they often fall prey.Phuketwan has meanwhile begun a symbolic countdown to 3 May, World Press Freedom Day.Thailand is ranked 130th out of 180 countries in the 2014 Reporters Without Borders press freedom index.Credit photo: Phuketwan April 16, 2014 – Updated on January 20, 2016 Call for withdrawal of charges against Phuketwan journalists Red alert for green journalism – 10 environmental reporters killed in five years News News Help by sharing this information RSF_en to go further Follow the news on Thailand Organisation Covid-19 emergency laws spell disaster for press freedom Thai premier, UN rapporteurs asked to prevent journalists being returned to Myanmar News ThailandAsia – Pacific August 21, 2020 Find out more May 12, 2021 Find out more ThailandAsia – Pacific Receive email alerts June 12, 2020 Find out more
News UpdatesDelhi High Court Issues Notice On Amazon’s Plea Against FRL – Reliance Rs. 25000 Cr Stake Sale Shreya Agarwal29 Jan 2021 8:33 AMShare This – xThe Delhi High Court today issued notice on Amazon’s plea seeking interim injunction against Future Retail Ltd (FRL) and Reliance Industries Ltd’s deal worth nearly Rs. 25000 crores. Refusing to grant any interim relief to Amazon at this stage, the court has listed the case for further arguments on Monday. Seeking clarity on the factual position of all parties involved, the bench of Justice…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 Delhi High Court today issued notice on Amazon’s plea seeking interim injunction against Future Retail Ltd (FRL) and Reliance Industries Ltd’s deal worth nearly Rs. 25000 crores. Refusing to grant any interim relief to Amazon at this stage, the court has listed the case for further arguments on Monday. Seeking clarity on the factual position of all parties involved, the bench of Justice Midha has also directed the parties to submit a note on their factual positions by tomorrow afternoon.The hearing began with Sr. Adv. Darius Khambata, appearing for FRL, reiterating his previous submission that even under the SIAC Rules, which govern the arbitration agreement between the parties, the Emergency Arbitrator is not the tribunal; and further submitted that the Single Judge Bench order of Justice Mukta Gupta too, has not held anywhere that the Emergency Arbitrator’s award it to be treated as an order under Section 17 of the Arbitration and Conciliation Act.The section, which was the fulcrum around which the hearing today revolved, reads as:”17. Interim measures ordered by arbitral tribunal.—(1) Unless otherwise agreed by the parties, the arbitral tribunal may, at the request of a party, order a party to take any interim measure of protection as the arbitral tribunal may consider necessary in respect of the subject-matter of the dispute.(2) The arbitral tribunal may require a party to provide appropriate security in connection with a measure ordered under sub-section (1).”Khambata pressed vehemently, that the award by the Emergency Arbitrator did not qualify as an interim order under Section 17 of the Act.He further argued that, While Justice Gupta had held that the Emergency Arbitrator was not a coram non judice but his order had not been held to be under Section 17 but infact under Section 9 of the Act, which provides for permitted interim measures which “a party may, before or during arbitral proceedings or at any time after the making of the arbitral award but before it is enforced in accordance with section 36, apply to a court,” for.”My learned friend may repeat ad nauseum that everything has been argued and settled but nowhere is it said that the Emergency Arbitrator’s order is under S.17,” he said.He further stated that the mere fact that there is a rule under an Indian institution providing for Emergency Arbitrators doesn’t mean that the Emergency Arbitrator in the present case ipso facto becomes an arbitral tribunal whose award is recognized as an order under S.17 and said that even when an arbitral tribunal has passed an award, one has to either file a suit or come under S.9 for enforcement.He said it was the first time that someone was trying to enforce an EA’s award directly. Referring to Justice Gupta’s order he highlighted that she had already noted in her order, that the EA process was an alternative to Section 9, and not covered under Section 17.Alleging Amazon of having a “dog in the manger” approach, the Khambata said that Amazon had merely come here desperately now, as it was aware that FRL had approached the NCLT for an approval, and Amazon knew it would go through.Adding on to Khambata’s stand, Sr. Adv. Harish Salve for FRL stated that, “If an interim relief is refused by an Emergency Arbitrator, one has to go under Section 9 of the Act and not Section 17.He argued that the Emergency Arbitrator, as the name suggested, was “only for a quick fire solution,” and that “S.17(2) has come now, but in the old S.17, the tribunal always had the power to grant interim relief.”Propositioning that the Emergency Arbitrator had the same status as under the old Section 17 of the Act, wherein if the tribunal had given an interim order under S.17(1) but the party refused to obey it, the relief lay under Section 9, Salve pressed that the Emergency Arbitrator’s status was similar to that in the “old Section 17″, whereas an order by a regular Arbitral Tribunal is considered an order under the existing Section 17.Salve continued that when India opened, there was a reason why multi-brand retail investment was not allowed, because it would affect the common shopkeeper.”Today if Marks & Spencer wants to come, they can, but if a giant like Walmart wants to come, they can’t, because the giants will end up leading to local shopkeepers closing shop.”He stated that Amazon had no right in FRL and that as held by the Single Judge, the FRL – FCPL agreement and the FCPL – Amazon agreement can’t be read together, so there is no arbitration agreement also.”They went to a Division Bench, which didn’t grant them a stay. Now they have come to your Lordship, seeking enforcement under Section 17”, this, he said was a complete abuse of process.Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story
narvikk/iStock(NEW YORK) — A global pandemic of the novel coronavirus has now killed at least 9,648 people in the United States. The United States is, by far, the hardest-hit country with more than 337,000 diagnosed cases of COVID-19, the disease caused by the new respiratory virus, according to data compiled by the Center for Systems Science and Engineering at Johns Hopkins University. The first cases of COVID-19 were detected in China back in December. Now, more than 1.2 million people around the world have been diagnosed with the disease and over 265,000 of them have recovered while nearly 70,000 have died, according to Johns Hopkins University’s count. The actual numbers are believed to be much higher due to testing shortages, many unreported cases and suspicions that some governments are hiding the scope of their nations’ outbreaks. Italy still has the highest death toll in the world — almost 16,000. Here’s how the story is developing Monday. All times Eastern:7:18 a.m.: This will be the ‘peak week’ for parts of the US, official warnsAdm. Brett Giroir, assistant secretary for health at the U.S. Department of Health and Human Services, warned Americans that this will be the “peak week” of the novel coronavirus outbreak for some states and cities. “For parts of the country, particularly New York, New Jersey, Connecticut, Detroit, this week is going to be the peak week,” Giroir told ABC News Chief Anchor George Stephanopoulos in an interview Monday on Good Morning America.“It’s going to be the peak hospitalization, peak ICU week and, unfortunately, peak death week,” he added. “But that doesn’t mean we’re over this week. There are other parts of the country that will peak a little bit later, like New Orleans. So we have to be very, very serious about what’s happening this week, next week, the following weeks — do the physical distancing, wear the masks, that’s how we’re going to defeat this virus.”Giroir, a medical doctor and a key member of the White House coronavirus task force, said the country has “come a long way” in ramping up its COVID-19 testing capacity. “As of yesterday we’ve conducted at least 1.67 million tests, and we don’t even get information from all of the laboratory-derived tests. These are the ones that are in the hospitals that don’t really report up through the system,” he said. “We’ll do about a million tests this week, and that’s plenty enough tests for the people who really need it in the priority groups — those who are hospitalized, health care workers, elderly.”Giroir said they are also working on scaling up serologic testing, more commonly known as an antibody test, which only requires a drop of blood and sniffs out virus antibodies. The test can’t detect whether an individual presently has the virus, but it can tell if they already had it or had been exposed to it at some point in the past because their immune system has developed antibodies to fight it. “That’s very important as we think about reopening the country and the economy,” Giroir said, “because if you have had the virus and you have an immune response to it, in all probability you are immune and safe from the virus.” Giroir said he’s “very optimistic” that the country will soon have “tens of millions” of serologic tests, potentially by May. “There are several that are going through the FDA right now,” he added.6:42 a.m.: State of emergency looms in JapanJapanese Prime Minister Shinzo Abe said he intends to declare a state of emergency over the country’s novel coronavirus outbreak amid a recent surge in infections.During a press conference Monday, Abe said he was making final arrangements for the declaration and would announce it as soon as Tuesday. The order would last for about a month and would apply to seven prefectures that includes major cities such as Tokyo, which has seen a jump in new infections in recent days.The extent of the emergency measures were not fully known Monday, but the declaration would give prefectural governors the power to ask people to stay home. Local media reports say public transportation and supermarkets would remain open.As of Monday, at least 3,654 people in Japan have been diagnosed with COVID-19 and 85 of them have died, according to a count kept by Johns Hopkins University.The Japanese government has admitted that infection routes cannot be traced in an increasing number of cases.The U.S. Embassy in Tokyo issued a stark warning to Americans in Japan on Friday, saying those who wish to return should do so now or risk being stuck there “for an indefinite period.”“For U.S. citizens now in Japan, if you plan to return to the United States, we recommend that you arrange for an immediate departure. Failure to do so could mean staying abroad for an indefinite period,” the embassy said in the alert. “As compared to the number of positive cases and hospitalizations in the United States and Europe, the number of reported COVID-19 cases in Japan remains relatively low. The Japanese Government’s decision to not test broadly makes it difficult to accurately assess the COVID-19 prevalence rate.”3 a.m.: US Forces Japan declares public health emergencyThe commander of the United States Forces Japan on Monday announced a public health emergency for the Kanto Plain “due to the steady increase” of novel coronavirus infections in nearby Tokyo.The declaration, which will remain in effect through May 5, gives commanders the authority to enforce compliance of health protection measures on those who live and work on all U.S. Army, Navy, Air Force and Marine installations and facilities located on the Kanto Plain, the largest lowland in Japan that covers more than half of the eastern Kanto region, including Tokyo.“Protecting the health and safety of everyone associated with U.S. Forces Japan is my number one priority,” Lt. Gen. Kevin Schneider, U.S. Forces Japan commander, said in a statement Monday. “I cannot underscore enough the importance of personal responsibility at a time like this. Stopping the spread of COVID-19 requires the entire team — service members, civilians, families, and our Japanese partners.”The announcement comes as the daily count of new COVID-19 cases in the Japanese capital have jumped in recent days, from 78 on March 31 to 143 on Sunday, according to data published on the Tokyo Metropolitan Government’s website.Last month, an active duty member of the U.S. Forces Japan tested positive for COVID-19.In total, 1,033 people have tested positive for the disease in Tokyo and 30 of them have died, according to the government’s website. A count kept by Johns Hopkins University show’s Japan’s nationwide tally is up to 3,654 diagnosed cases and 85 deaths.Japanese Prime Minister Shinzo Abe apparently plans to declare a state of emergency in major cities such as Tokyo amid the recent surge in infections, according to local media reports. Copyright © 2020, ABC Audio. All rights reserved.