Sports Ministry suspends recognition to IABF

  NEW DELHI: Close on the heels of International Boxing Association provisionally suspending the Indian Federation, the Sports Ministry also suspended recognition to the IABF, citing "flawed and faulty" elections.

This was announced by the Sports Minister Jitendra Singh, who said the IABF election held in September were in "violation of the procedure laid down in the Sports Code."

"IABF has been suspended primarily on grounds that elections were flawed and faulty and the nomination time given was very less. When the nomination did not come in, people were just picked from the house. We have given them 15 days time to confirm that they would hold a re-election," said the Minister.

The September elections saw incumbent President Abhay Sinhg Chautala being made the nominated chairman, replaced by his brother-in-law and BJP MLA from Rajasthan Abhishek Matoria, 29, as President.

The Ministry listed the flaws in the election in a detailed statement.

"The publication of the electoral roll was flawed because it was not possible for the electoral roll to be dispatched to members by post prior to the last date for filing of nominations and merely publishing on the website is not considered sufficient notice or information to all members," it said.

"Members were not given sufficient time to file nominations as the gap between the finalisation of the electoral roll and the filing of nomination was too short to allow people to travel large distances and file nominations personally," the Ministry added.

"Nominations of candidates were taken from the floor of the House on a date which was after last date of nomination and this is not permissible."

The Ministry said the only way forward now is to hold the elections again.

"...The entire election needs to be held afresh. The Government has to suspend the recognition of the Indian Amateur Boxing Federation pending fresh elections.

"A notice will be sent to the IABF to confirm that they will hold fresh elections under independent supervision within a period of 15 days failing which the de-recognition will be made absolute," it said.

It is a massive jolt to the IABF which is already in a state of shock after being provisionally suspended by AIBA, which cited "possible manipulation" of the elections as the reason.

  

Sports Ministry suspends recognition to IABF

  NEW DELHI: Close on the heels of International Boxing Association provisionally suspending the Indian Federation, the Sports Ministry also suspended recognition to the IABF, citing "flawed and faulty" elections.

This was announced by the Sports Minister Jitendra Singh, who said the IABF election held in September were in "violation of the procedure laid down in the Sports Code."

"IABF has been suspended primarily on grounds that elections were flawed and faulty and the nomination time given was very less. When the nomination did not come in, people were just picked from the house. We have given them 15 days time to confirm that they would hold a re-election," said the Minister.

The September elections saw incumbent President Abhay Sinhg Chautala being made the nominated chairman, replaced by his brother-in-law and BJP MLA from Rajasthan Abhishek Matoria, 29, as President.

The Ministry listed the flaws in the election in a detailed statement.

"The publication of the electoral roll was flawed because it was not possible for the electoral roll to be dispatched to members by post prior to the last date for filing of nominations and merely publishing on the website is not considered sufficient notice or information to all members," it said.

"Members were not given sufficient time to file nominations as the gap between the finalisation of the electoral roll and the filing of nomination was too short to allow people to travel large distances and file nominations personally," the Ministry added.

"Nominations of candidates were taken from the floor of the House on a date which was after last date of nomination and this is not permissible."

The Ministry said the only way forward now is to hold the elections again.

"...The entire election needs to be held afresh. The Government has to suspend the recognition of the Indian Amateur Boxing Federation pending fresh elections.

"A notice will be sent to the IABF to confirm that they will hold fresh elections under independent supervision within a period of 15 days failing which the de-recognition will be made absolute," it said.

It is a massive jolt to the IABF which is already in a state of shock after being provisionally suspended by AIBA, which cited "possible manipulation" of the elections as the reason.

  

Maruti Suzuki to increase car prices by up to Rs 20,000

NEW DELHI: The country's largest car maker Maruti Suzuki India on Thursday said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January due to increasing pressure on its margins due to currency fluctuation.
"There will be a hike in the prices of our products. Quantum will vary depending on models, but it can be up to Rs 20,000," Maruti Suzuki India chief operating officer (marketing & sales) Mayank Pareek said.

He said the price hike has been necessitated due to increasing pressure on the margins due to the currency fluctuation.
The company currently sells a variety of models starting from the M800 to imported Kizashi at a price range starting from Rs 2.09 lakh to Rs 17.52 lakh (ex-showroom Delhi).

In the second quarter of this fiscal, the company had posted a 5.41 per cent fall in net profit at Rs 227.45 crore, hit by an unprecedented violence at its Manesar plant and low sales and currency fluctuation.

Adverse foreign exchange movement had an overall impact of Rs 350 crore on the company during the July-September period this fiscal, it had said.

For November, MSI reported 12.45 per cent increase in its total sales at 1,03,200 units. Its domestic sales grew by 9.67 per cent to 90,882 units compared to 82,870 units in the year-ago month.

MSI's exports went up by 38.37 per cent to 12,318 units last month from 8,902 units in the year-ago period, the company had said.

Maruti Suzuki to increase car prices by up to Rs 20,000

NEW DELHI: The country's largest car maker Maruti Suzuki India on Thursday said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January due to increasing pressure on its margins due to currency fluctuation.
"There will be a hike in the prices of our products. Quantum will vary depending on models, but it can be up to Rs 20,000," Maruti Suzuki India chief operating officer (marketing & sales) Mayank Pareek said.

He said the price hike has been necessitated due to increasing pressure on the margins due to the currency fluctuation.
The company currently sells a variety of models starting from the M800 to imported Kizashi at a price range starting from Rs 2.09 lakh to Rs 17.52 lakh (ex-showroom Delhi).

In the second quarter of this fiscal, the company had posted a 5.41 per cent fall in net profit at Rs 227.45 crore, hit by an unprecedented violence at its Manesar plant and low sales and currency fluctuation.

Adverse foreign exchange movement had an overall impact of Rs 350 crore on the company during the July-September period this fiscal, it had said.

For November, MSI reported 12.45 per cent increase in its total sales at 1,03,200 units. Its domestic sales grew by 9.67 per cent to 90,882 units compared to 82,870 units in the year-ago month.

MSI's exports went up by 38.37 per cent to 12,318 units last month from 8,902 units in the year-ago period, the company had said.

Sensex down 63 points amid govt winning FDI vote in Rajya Sabha

  

MUMBAI: Snapping a three-day rise, the BSE benchmark sensex today fell by 63 points on emergence of profit-booking activity amid the government winning FDI in multi-brand retail vote in the Rajya Sabha.  

The sensex, which had gained 182 points in last three sessions, fell by 62.70 points, or 0.32% to 19,424.10 led by stocks of realty and IT sector. The gauge had gained nearly 0.4% at the outset.

Brokers said the market failed to hold on to gains as investors booked profits in stocks that have run up while the IT sector continued to be under pressure on growth worries.

The government today won the approval of Parliament to its controversial decision of allowing FDI in multi-brand retail with a motion against it being defeated convincingly in Rajya Sabha, as BSP voted in favour of UPA.

Market analysts said the down trend was further influenced by weak cues from European markets as investors adopted a cautious stance ahead of US non-farm payrolls data release later in the day.

The broad-based National Stock Exchange index Nifty fell by 23.50 points, or 0.40% to 5,907.40, after rising to 5.949.85 in early trade.

In 30-BSE index components, 19 stocks declined led by IT stocks. Indian software companies get the majority of their revenues from the US and European markets. The index was dragged down by RIL, HDFC, Infosys, TCS and ICICI Bank.

Across sectoral indices, the BSE realty sector index suffered the most by losing 1.68%, followed by IT index (down 0.98%), Metal index (0.77%) and Banking index (0.52%).

However, the falling trend was cushioned to some extent by the firming trend in auto sector as shares of Maruti Suzuki climbed 1.94% to Rs 1,510.05, after touching one-year high.

Sensex down 63 points amid govt winning FDI vote in Rajya Sabha

  

MUMBAI: Snapping a three-day rise, the BSE benchmark sensex today fell by 63 points on emergence of profit-booking activity amid the government winning FDI in multi-brand retail vote in the Rajya Sabha.  

The sensex, which had gained 182 points in last three sessions, fell by 62.70 points, or 0.32% to 19,424.10 led by stocks of realty and IT sector. The gauge had gained nearly 0.4% at the outset.

Brokers said the market failed to hold on to gains as investors booked profits in stocks that have run up while the IT sector continued to be under pressure on growth worries.

The government today won the approval of Parliament to its controversial decision of allowing FDI in multi-brand retail with a motion against it being defeated convincingly in Rajya Sabha, as BSP voted in favour of UPA.

Market analysts said the down trend was further influenced by weak cues from European markets as investors adopted a cautious stance ahead of US non-farm payrolls data release later in the day.

The broad-based National Stock Exchange index Nifty fell by 23.50 points, or 0.40% to 5,907.40, after rising to 5.949.85 in early trade.

In 30-BSE index components, 19 stocks declined led by IT stocks. Indian software companies get the majority of their revenues from the US and European markets. The index was dragged down by RIL, HDFC, Infosys, TCS and ICICI Bank.

Across sectoral indices, the BSE realty sector index suffered the most by losing 1.68%, followed by IT index (down 0.98%), Metal index (0.77%) and Banking index (0.52%).

However, the falling trend was cushioned to some extent by the firming trend in auto sector as shares of Maruti Suzuki climbed 1.94% to Rs 1,510.05, after touching one-year high.

7.3 magnitude earthquake hits Japan

NEW DELHI: A tsunami alert was issued for Japan's northeast coast on Friday after a powerful 7.3-magnitude undersea earthquake struck, setting buildings in Tokyo swaying violently.

Media reports said a one-metre-high wave could sweep ashore in Miyagi prefecture, an area badly hit by the March 2011 tsunami that devastated a large swathe of coast in the northeast, killing thousands.

Broadcaster NHK, quoting the national meteorological agency, said the tsunami is expected to hit at 5:40 pm (0840 GMT).

The United States Geological Survey measured the quake's magnitude at 7.3.

NHK said the Japan Meteorological Agency had issued a tsunami warning, one notch lower than a tsunami alert, for the Pacific coast of Iwate, Fukushima, Aomori and Ibaraki prefectures.

A 50-centimetre tunami was expected to hit the coast of Iwate at 5:40 pm, Fukushima at 5:50 pm, and Aomori and Ibaraki at 6:00 pm.

Nuclear plant operator Tokyo Electric Power told AFP there were no reports of further damage at the crippled Fukushima nuclear plant.

Zardari to visit Malala at Birmingham hospital

ISLAMABAD: Pakistan President Asif Ali Zardari is all set to visit the United Kingdom on Saturday to meet 15-year-old education activist Malala Yousufzai, who is being treated at Birmingham's Queen Elizabeth Hospital.

Foreign Office officials have termed the visit as an "unprecedented gesture" by Zardari, because the president did not have any diplomatic engagements in the UK other than meeting Malala, reports The Express Tribune.

Foreign Minister Hina Rabbani Khar will accompany Zardari to the UK.

The Pakistani Taliban had shot Malala while she was returning home from school on October 9 in the Swat Valley. She was attacked for speaking up against the terror outfit and advocating access to education for girls in an area that has been one of the Taliban's main strongholds in the country.

Over the past months, the teenage activist has received messages of support from across the globe with some suggesting a Nobel Peace Prize for her.

In a special message, Zardari said Malala stands tall as a symbol of girls' education and of defiance against those who wish to impose their obscurantist agenda behind the facade of religion.

To reinforce the idea that Malala represents the government of Pakistan, a special initiative has been launched to give free education to the children.

Zardari to visit Malala at Birmingham hospital

ISLAMABAD: Pakistan President Asif Ali Zardari is all set to visit the United Kingdom on Saturday to meet 15-year-old education activist Malala Yousufzai, who is being treated at Birmingham's Queen Elizabeth Hospital.

Foreign Office officials have termed the visit as an "unprecedented gesture" by Zardari, because the president did not have any diplomatic engagements in the UK other than meeting Malala, reports The Express Tribune.

Foreign Minister Hina Rabbani Khar will accompany Zardari to the UK.

The Pakistani Taliban had shot Malala while she was returning home from school on October 9 in the Swat Valley. She was attacked for speaking up against the terror outfit and advocating access to education for girls in an area that has been one of the Taliban's main strongholds in the country.

Over the past months, the teenage activist has received messages of support from across the globe with some suggesting a Nobel Peace Prize for her.

In a special message, Zardari said Malala stands tall as a symbol of girls' education and of defiance against those who wish to impose their obscurantist agenda behind the facade of religion.

To reinforce the idea that Malala represents the government of Pakistan, a special initiative has been launched to give free education to the children.

7.3 magnitude earthquake hits Japan

NEW DELHI: A tsunami alert was issued for Japan's northeast coast on Friday after a powerful 7.3-magnitude undersea earthquake struck, setting buildings in Tokyo swaying violently.

Media reports said a one-metre-high wave could sweep ashore in Miyagi prefecture, an area badly hit by the March 2011 tsunami that devastated a large swathe of coast in the northeast, killing thousands.

Broadcaster NHK, quoting the national meteorological agency, said the tsunami is expected to hit at 5:40 pm (0840 GMT).

The United States Geological Survey measured the quake's magnitude at 7.3.

NHK said the Japan Meteorological Agency had issued a tsunami warning, one notch lower than a tsunami alert, for the Pacific coast of Iwate, Fukushima, Aomori and Ibaraki prefectures.

A 50-centimetre tunami was expected to hit the coast of Iwate at 5:40 pm, Fukushima at 5:50 pm, and Aomori and Ibaraki at 6:00 pm.

Nuclear plant operator Tokyo Electric Power told AFP there were no reports of further damage at the crippled Fukushima nuclear plant.