whatsapp Tags: NULL Share Thursday 24 February 2011 8:25 pm whatsapp Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap KCS-content Show Comments ▼ ANALYST VIEWS: IS BAT’S SHARE BUYBACK ENOUGH TO SATISFY INVESTORS TINA COOK | CHARLES STANLEYThese results are in line with expectations but it seems that volumes have disappointed while the economic headwinds which have put pressure on consumers have taken their toll. These factors seem to have outweighed the share buyback which the market usually likes.KEITH BOWMAN | HARGREAVES LANSDOWNDespite broadly progressive figures, the results appear to have reminded investors that even perceived inelastic demand for tobacco can be tested. Nonetheless, the fall in volumes has been offset by continued group cost cutting, and the reintroduction of the buyback scheme should soothe nerves. JULIAN HARDWICK | RBSThe size of the buyback is sensible. The £750m effectively utilised their cash flow. Anything more than that, it would have been borrowing to fund its purchases.
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Looking at the current state of Sweden’s newly regulated igaming market, RB Capital’s Julian Buhagiar says savvy investors will be steering clear, and those with an interest looking for an exit. Sweden: 2019’s biggest short or a bull market in waiting? 27th August 2019 | By contenteditor Looking at the current state of Sweden’s newly regulated igaming market, RB Capital’s Julian Buhagiar says savvy investors will be steering clear, and those with an interest looking for an exit.Whilst it is true that, from a broader investment perspective, a significant amount of drama is unfolding on the bond and futures market, there is a more pertinent developing story taking place in the Swedish gambling equity markets.To fully appreciate the scale – and future impact – of these developments, it’s worth revisiting the hype and anticipation in December 2018, when many expected Sweden’s re-regulated market to be the highlight of 2019. With a raft of operators speaking of their ambitious plans for one of Europe’s most exciting markets, the future indeed looked bright.Eight months on, and few would disagree that things didn’t turn out quite as expected. A slow-motion implosion of nose-diving share prices, a raft of fines to cover the deficit of a third world country, and a swift revocation of gambling licenses not entirely dissimilar to the pre-1930s prohibition era.Earnings reports have made for sober reading, with regulated revenues down at least 15% year-on-year in comparison with last year’s ‘grey’ market. In all likelihood the decline will be closer to 20% once the full reports are in.Not for the faint hearted To date, the regulator has sanctioned 15 companies in total, with one licensee fined twice, and another stripped of its licence entirely. Insiders warn of additional – harsher – penalties on the way, with GVC and GiG among those who are prepared to go through Sweden’s stringent legal process to defend their name in court.In alternative territories, such turmoil would typically have speculators relying on the stability of larger players’ share prices, but this does not seem to be the case for Sweden. High cap stocks such as Betsson have not fared any better, nor has Kindred (unsurprisingly, in hindsight).So what has gone wrong? After all, investment in a regulated market in one of Europe’s most advanced and stable economies was meant to be safe as (non-UK) houses. Sweden should have been a case study in taxing and regulating an online gaming market. It’s thus worth taking a look under the bonnet to dissect what should (and shouldn’t) have happened. This narrative might not be for the faint hearted – especially those who have long positions on Swedish gaming equities!In retrospect, it’s no doubt that the Swedish Gaming Authority’s lack of clarity on regulations was an unnecessary spanner in the works. Breaking the rules is far easier when nobody knows what the rules should have been in the first place (as opposed to, say, Italy, UK, Germany and the Netherlands, pre-2015). Bonusing is a particularly contentious point here – with all ‘economic incentives’ linked to games currently banned, how far does this go? What is the end-point of an economic incentive? Most legislative rule books fail to outline this clearly, much less Sweden.Sports betting has fared even worse under these new regulations. How can a bookmaker possibly predict if (and when) an under-18 football player will be a surprise addition to the team sheet? Should all markets be frozen as soon as they are brought onto the pitch? Can punters still place a bet if the players doesn’t make a substitute appearance? From a venture capitalist’s standpoint very little capital will flow into a country where all bets could suddenly be called off at a moments’ notice. Or, as was the case with Global Gaming, a license gets revoked with virtually no explanation or clarity.Immeasurably high barriers This author is a supporter of regulation and compliance – but only when done properly. It’s essential to create a marketplace of trust in a newly regulated territory, and even more so when it comes to levelling the playing field. Ironically, the SGA has arguably done the opposite and made the Swedish market the world’s most inhospitable territory for gaming operators to do business.Until the SGA starts to provide more clarity, investors do not expect things to change. We’ll likely see the law of unintended consequences play out in real time as money flows back into the black markets. After all, punters still want to place a bet – if the ‘white’ market is unable to provide this service, punters will go elsewhere (as has happened in Italy). It’s simple behavioural economics in action. A cultural desire to start and stop betting cannot be controlled by a regulator. Until the SGA provides a suitable framework to operate effectively, it will have unfortunately achieved exactly that – a reason to go elsewhere.It doesn’t stop there unfortunately. If an oligopolistic market was what the SGA wanted; they’re certainly getting it. With the threat of eye-wateringly high fines based on a rulebook that remains disconcertingly vague, many smaller operators are now running in the opposite direction from anything with the ‘Sweden’ name on it.Currently the market is shaping up to be one in which only the most financially robust operators, those capable of weathering the turbulent storm of excessive fines, are left. And we’ll soon see just what such a market, with little to no competition and immeasurably high barriers to entry, looks like. Uncompetitive pricing and lack of incentive to innovate will be just two of the many consequences – and it leaves very little space for optimism.So, what happens next? Of course, the market needs to stabilise first, which hopefully will happen in the next nine months to a year. There were bound to be teething problems in the first few months, but given the way this year has unfolded, ongoing issues will continue well into 2020, and likely beyond.Logically, if the SGA intends to claw back its position, it will need to provide more clarity on regulations, and learn its lessons. It is the view of many prominent investors that the SGA would do well to take a leaf from the Danish regulator’s playbook. While Spillemyndigheden carries a big stick for enforcement (which is not used unsparingly), it takes a pragmatic and transparent stance with operators, providing clear guidelines and sensible tax levels.Once the SGA provides the industry with understandable interpretations of the rules it is putting in place, there should be an improvement, and with it a buy-in from the international players. Until that happens the smart money will stay on the sidelines and any decent investor worth their fund will be hitting the sell button at any Swedish operator’s public listing. Topics: Casino & games Legal & compliance Sports betting Strategy Subscribe to the iGaming newsletter Email Address Tags: Mobile Online Gambling Regions: Europe Nordics Sweden Casino & games
4th October 2019 | By contenteditor Tags: Online Gambling Rank Group completes acquisition of Stride Gaming Bingo Rank Group, the parent company of Mecca Bingo and Grosvenor Casinos, has finalised its acquisition of online casino and bingo operator Stride Gaming. Stride Shares will cease trading on AIM at 7.00am on October 7. Subscribe to the iGaming newsletter Rank Group, the parent company of Mecca Bingo and Grosvenor Casinos, has finalised its acquisition of online casino and bingo operator Stride Gaming.In a statement released this morning (4 October), Rank said that it now owns the entire issued ordinary share capital of Stride. Rank’s original bid that it lodged in May was worth £115.3m(€129.5m/$142.2m).As per the terms of the acquisition agreement, admission to the trading of Stride shares on AIM will be cancelled from 7.00am on October 7. Scheme Shareholders on the register at 6pm today will receive 151 pence in cash for each share.Consideration due to the scheme shareholders will be sent no later than October 18.“Today marks a significant day for Rank,” Rank Group’s chief executive John O’Reilly said. “This acquisition delivers a proprietary technology platform and highly experienced team which will accelerate the transformation of Rank and create one of the UK’s leading online gaming businesses.“Our focus now turns to ensuring we successfully integrate Stride into Rank and realise the potential of our new enlarged digital business.”Completion of the acquisition comes after a court sanctioned the deal earlier this week. Stride shareholders voted to back the deal in July, while the GB Gambling Commission last month also gave its approval to the acquisition.When announcing the original offer, Rank said that the merger would create a business with pro forma digital net gaming revenues of approximately £185m.Rank also said the acquisition would help to improve its performance and reduce costs through migration to Stride’s proprietary technology platform and in-house ecosystem.Other benefits, according to Rank, include significant value from strong synergies and greater financial flexibility to the combined business, while the addition of senior Stride staff will strengthen its management team. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Strategy Bingo Email Address
CopyAbout this officeBalance Associates ArchitectsOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesWoodWinthropHousesUnited StatesPublished on August 16, 2011Cite: “Pine Forest Cabin / Balance Associates Architects” 16 Aug 2011. ArchDaily. Accessed 12 Jun 2021.
Howard Lake | 17 June 2009 | News Tagged with: Individual giving Ireland 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. The Women’s Aid freephone helpline took 12,000 calls in 2007 and is viewed by the charity as vital in providing support for women and in helping them to access other services. On average, calls cost €5 and last 20 minutes.The overall cost of running the charity is €1.8 million. Government funds, which cover 60 per cent of the charity’s costs, were cut by some 10 per cent this year and donations have also fallen.Ms Martin said one large fundraising event, involving a trip to the Sinai Desert, had to be cancelled because the charity could not attract a sufficient number of participants.“It is a huge, ongoing struggle. Government funding is shrinking and our funding from donors is withering on the vine,” she said.“We are hoping this new appeal will help.”She said the charity was hoping that one person, out of the 1,000- plus people asked to donate €10,000, might be in a position to give it.www.womensaid.ie 13 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 Domestic abuse charity Women’s Aid has written to supporters in Ireland asking them for donations of up to €10,000 each in a bid to keep its helpline operating. The charity has said it is facing a serious financial crisis.Women’s Aid has written to more than 1,000 warm donors asking them to help make up an anticipated shortfall of €65,000 in funding for its national freephone helpline service.Government cutbacks and reductions in donations have put services provided by the charity in crisis, according to its director, Margaret Martin. Advertisement Charity makes €10,000 ask
Community News Herbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeautyAre You His Ms. Right? 12 Signs He Thinks You AreHerbeautyHerbeautyHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeauty6 Trends To Look Like A Bombshell And 6 To Forget AboutHerbeautyHerbeautyHerbeautyCreative Ways To Burn Calories That Require Little EffortHerbeautyHerbeauty EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Name (required) Mail (required) (not be published) Website Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Make a comment Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Subscribe faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksCitizen Service CenterPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes More Cool Stuff Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Community News Business News Top of the News Community News Equestrians Set to “Find Adventure” in 2016 Rose Parade From STAFF REPORTS Published on Tuesday, August 11, 2015 | 11:15 am Photo courtesy Tournament of RosesTournament of Roses® 2016 President Mike Matthiessen today announced 19 outstanding equestrian groups to ride in the 127th Rose Parade presented by Honda, themed “Find Your Adventure.”The equestrian groups selected are (listed alphabetically):• 1st Cavalry Horse Detachment – Fort Hood• American Endurance Ride Conference• Anheuser Busch Budweiser Clydesdales• Calizona Appaloosa Horse Club• Dakota Thunder Shires• Long Beach Mounted Police• Los Angeles County Sheriff’s Department• Los Hermanos Bañuelos• Martinez Family• Medieval Times Dinner & Tournament• National Park Service• The New Buffalo Soldiers• The Norco Cowgirls & The Little Miss Norco Cowgirls Rodeo Drill Team• Scripps Miramar Ranch• Spirit of the West Riders• U.S. Army Field Artillery Half Section – Fort Sill• U.S. Marine Corps Mounted Color Guard• Valley Hunt Club• Wells FargoEquestrians participating in the Rose Parade showcase a variety of breeds as well as unique tack and costumes. All riders must have previous parade riding experience. In addition to riding in the 5 1/2 mile-long Rose Parade route on New Year’s Day, these equestrian groups are invited to take part in Equestfest presented by Wells Fargo, which will take place December 29, 2015, at the Los Angeles Equestrian Center. During Equestfest, groups perform trick riding, drills, dancing and roping skills, and attendees can walk through the stables and speak with the riders.About the Pasadena Tournament of Roses®The Tournament of Roses is a volunteer organization that annually hosts the Rose Parade®, the Rose Bowl Game® and a variety of associated events. Nine hundred thirtyfive volunteer members act as ambassadors of the organization and contribute upwards of 80,000 hours of manpower each year. The 127th Rose Parade presented by Honda themed “Find Your Adventure,” will take place Friday, January 1, 2016, followed by the 102nd Rose Bowl Game presented by Northwestern Mutual. Learn more at www.tournamentofroses.com and on Facebook, Twitter, Instagram and YouTube. First Heatwave Expected Next Week Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Your email address will not be published. Required fields are marked * 4 recommended0 commentsShareShareTweetSharePin it
WhatsApp Pinterest Previous articleECISD approves memorandum of understanding with Texas Tech for EctorNext articleMOSC concert admin Local NewsEntertainment Twitter ODESSAEVENTSDos Amigos, 4700 N. Golder Ave., has scheduled the following music artists to perform.Today: Kane Brown, $30 in advance and $35 at the door.May 11: Casey Donahue Band, $20 in advance and $25 at the door.June 1: Mark Chesnutt, $20 in advance and $25 at the door.June 8: Kyle Park with Harry Luge, $12 in advance and $15 at the door.Doors open at 6 p.m.For tickets, visit http://tinyurl.com/h2va5yy.Call 307-6384 or visit www.dosamigos.com.West Texas Talent has scheduled Neil Simon’s comedy/drama “California Suite” today and Saturday at Dee’s Bistro, 622 N. Lee Ave.Dinner will be served at 7 p.m. and the play will begin at 8 p.m.“California Suite” tells the story of four visitors who each stay in the same room.Tickets are $10 (play only) or $20 (with dinner) for students with ID, and $15 (play only) or $25 (with dinner) for adults.For more information or tickets, visit www.westtexastalent.com.Permian Playhouse, 310 W. 42nd St., has scheduled “Almost, Maine” at 7:30 p.m. today.For tickets, visit www.permianplayhouse.com.The Odessa College Music Department, 201 W. University Blvd., has scheduled a Music Masters Series, “Gianni Schicchi & Sister Angelica” by Giacomo Puccini, from 7:30 p.m. to 10 p.m. today and Saturday.The series features Metropolitan Opera Baritone, Gary Simpson.Admission is $10 for adults and $7 for military and seniors. Students with ID and OC employees get in free.The American Legion-Earl S. Bailey Post 430, 2701 E. Eighth St., has scheduled Swing Machine to perform at 8 p.m. today.The University of Texas of the Permian Basin has scheduled music scholarship auditions from 11 a.m. to 2 p.m. Saturday at the Wagner Noël Performing Arts Center, 1310 N. FM 1788, Midland.New students (regardless of major) entering UTPB for the fall semester can audition for a music scholarship.For more information or to register, visit www.utpb.edu/musicscholarship.The University of Texas of the Permian Basin Music Department has scheduled the following recital and concert Monday in the Rea-Greathouse Hall at the Wagner Noël Performing Arts Center, 1310 N. FM 1788, Midland.5:30 p.m.: Departmental Recital No. 112.7 p.m.: Brass and Woodwind Ensemble Concert.Sign-ups for the 2018 West Texas Talent Search competition start at midnight Tuesday.West Texas Talent is seeking individual or group dancers, singers, musicians, comics, poets and more of all ages and experience to compete for thousands of dollars in cash and prizes.Preliminaries will be held at the following locations.June 2: 2 p.m., Holiday Inn, 1305 E. Coliseum Drive, Snyder.June 16: 2 p.m., MCM Eleganté Hotel, 801 Ave. Q, Lubbock.July 14: 2 p.m., MCM Eleganté Hotel, 5200 E. University Blvd., Odessa.July 21: 2 p.m., DoubleTree by Hilton Hotel, 117 W. Wall St., Midland.The semi-finals and finals will be held Sept. 2-3 at the MCM Grandé Hotel and FUNDome, 6201 E. Business 20, Odessa.For rules, applications and more information, call 978-7405 or visit www.westtexastalent.com.Odessa High School, 1301 Dotsy Ave., has scheduled the third annual Cinco De Mayo Celebration and Car Show from 5 p.m. to 8 p.m. Thursday.Bring your kustom cars, trucks, motorcycles, lowriders, lowrider bikes, model cars, bombs, ratrods and hotrods.There will be live entertainment by DJ El Pistolero Joe Reyes and DJ Bombita.Food trucks will be on site.For more information, call Juliet Carrera at 456-0234.Rea Charitable Trust has scheduled a “Carnegie Hall Send-Off” concert by The University of Texas of the Permian Basin Choir from 7 p.m. to 9 p.m. Thursday at First United Methodist Church, 415 N. Lee Ave.Cirque Italia, the water Circus (a non-animal show), has been scheduled Thursday and May 4-6 in Music City Mall parking lot, 4101 E. 42nd St.Show times: 7:30 p.m. Thursday and May 4; and 1:30 p.m., 4:30 p.m. and 7:30 p.m. May 5-6.There will be jugglers, contortionists, wire walkers, clowns, roller skating daredevils, artists hanging high in the air supported only by straps, people from Argentina, Brazil, Bulgaria, Cuba, Hungary, Italy, Mexico, Peru, Portugal, Romania, Russia, even a few from the United States, intent on entertaining guests.For a video preview, visit tinyurl.com/y8e2q98k.Garriga Law Firm’s 22nd annual Fiesta West Texas, a family-centered event celebrating the Hispanic culture, has been scheduled starting at 5 p.m. May 4 and noon May 5-6 at the Ector County Coliseum, 4201 Andrews Highway.Activities include live entertainment, nightly concerts, carnival rides and games, a parade, horse team roping, goat roping, bull riding, a washer tournament, food, exhibits, contests and more.Special shows include the Human Rocket Man; Lucha Libre professional Mexican luchadores; X Metal BMX Riders, a team extreme stunt show featuring various motorcycles and the Globe of Death; and two interactive animal shows, Sea Lion Splash Show and Nerger’s Tigers (Bengal/Siberian tigers).The Fiesta Car Show, an indoor and outdoor car show with lowriders, classic cars, muscle cars, custom cars, trucks and bikes, is scheduled throughout the weekend. Trophies and cash prizes will be awarded. For more information, call Joel with Exotic Suspensions at 339-1168 or 664-2104.The Miss Chiquitita 2018 pageant for girls, ages 1-10, is scheduled May 5. For more information, call 425-0972.The following music artists have been scheduled to perform.May 4: Country Fest featuring Wade Bowen, Kevin Fowler, Mike Ryan and Grant Gilbert. Tickets are $20 in advance.May 5: Go Tejano Day featuring Siggno, Lucky Joe, Jaime y Los Chamacos, Erick y Su Grupo Massore, Shelly Lares and La Dez. Tickets are $13 in advance.May 6: Perdidos de Sinaloa, La Energia Nortena, La Fiera de Ojinaga, Geru y Su Legion and El Nuevo Corcel. Tickets are $15 in advance.Two-day passes for May 5-6 will be sold for $20 through May 1. Admission is free for kids age 5 and under. Tickets are available online and at La Nueva Moda, Endless Horizons and Super Mercado.For more information, tickets or VIP tables, call 385-7135 or visit myfiestawesttexas.com.The 2018 Cinco De Mayo Fiesta West Texas Parade has been scheduled at 10 a.m. May 5, starting at the corner of Murphy Street and Texas Avenue and ending at Ector Middle School.For entries, call Jesse Porras at 770-9423.Full Throttle Racing and Collectibles, 5014 Andrews Highway, has scheduled the seventh annual Classic Car Show from 10 a.m. to 3 p.m. May 5.Registration starts at 9 a.m. Awards will be presented at 2:30 p.m., followed by raffles.Vehicle registration fee is $20.Food and drinks are available with donation.All proceeds collected during the event will be donated to S.H.A.R.E. (Sharing Hands: A Respite Experience).The Club, 1023 S. Grant Ave., has scheduled the first annual Cinco De Migos Festival starting at noon May 5.There will be live music, games and bounce houses for kids, food, lowriders and giveaways.Headlining music artists include Young OG, Lil Vent Tha Prince, Loud Actionz, Phaze-A-Matics and others.AP Tattoos and Piercings will be having specials on tattoos and piercings all day.All ages are welcome from noon to 8 p.m. After 8 p.m., guests must be age 18 and up.Visit holdmyticket.com.Old School Wrestling (OSW) has scheduled A New Erra at 7 p.m. May 5 at the MCM Eleganté Hotel, 5200 E. University Blvd.VIP meet and greet starts at 6 p.m. Belltime is at 7 p.m.General admission is $10. VIP seating is $20.Tickets are available at Endless Horizons, The Hive Comics, from any OSW member and online.Call 770-7001 or visit www.squareup.com/store/oswevents.The annual Cinco de Mayo Show and Shine, in memory of Raul Guerrero and Ramon Arroyos, has been scheduled May 6 at McKinney Park, 625 W. Pool Road.For more information, call Nick Hernandez at 631-7308.Permian Playhouse, 310 W. 42nd St., has scheduled auditions for the musical “Annie” at 6 p.m. May 6-8.Roles are available for men and women of all ages, and for girls, ages 8 and up.Come prepared to sing, dance and possibly do a cold reading from the script. Song and dance will be taught at the audition.The Hemingway, 3952 E. 42nd St., Suite O, has scheduled Improvfection Stand-Up and Improv from 8 p.m. to 9:30 p.m. May 7.Admission is free. Must be 18 years of age and older.For more information, call Jennifer McNeely at 806-317-7059.Rolling 7’s Ranch Event Center, 11700 W. County Road 122, has scheduled Shooter Jennings to perform May 9.Doors open at 7 p.m.Tickets are $15 in advance and $20 at the door. Partial proceeds will go to Honor Our Troops (H.O.T.)Visit r7rec.com/calendar.Odessa Chuck Wagon Gang Clay Shoot has been scheduled from 8 a.m. to noon May 12 at Jake’s Clays, 13301 FM 1379, Midland.Lunch will be provided by the Odessa Chuck Wagon Gang. One in 10 will win a prize.Cost is $175 per shooter.Visit www.ocwg.org.The Club, 1023 S. Grant Ave., has scheduled West Texas Weekend featuring Lil Flip starting at noon May 12-13.There will be live performances, a car wash, a car show, activities for kids, tattoos, a fashion show, barbecue, food trucks, drink specials and more.General admission is $15 in advance or $30 at the door. VIP tickets are $30 in advance or $50 at the door. VIP tables with meet and greet and bottle service are also available. Two-day passes can be purchased (in advance only) for $20 general admission and $40 VIP.For tickets, call Rudy Payen at 432-888-0108.The Permian High School Orchestra Spring Concert has been scheduled at 2:30 p.m. May 12 at Permian High School Auditorium, 1800 E. 42nd St.The concert will feature a Reunion Stroll for all former Satin Strings members.For more information about the Reunion Stroll, email [email protected] Events and Passion Films have scheduled “Michael Bolton presents American Dream: Detroit” a love letter from Motor City legends chronicling the greatest urban turnaround in American history, at 7 p.m. May 15 at Cinemark Odessa 12, 4221 Preston Smith Road.The documentary celebrates the golden age of the Motor City and reveals the landscape of a new Detroit being built by young visionaries and entrepreneurial moguls alike.The film features its native entertainment legends: Francis Ford Coppola, Jerry Bruckheimer, Aretha Franklin, Smokey Robinson and Alice Cooper.Moviegoers will also enjoy an exclusive performance from Michael Bolton & Friends, captured live from The Grove in Los Angeles.Visit FathomEvents.com for tickets.Fathom Events has scheduled “Best F(r)iends: Volume Two” starring cult-movie heroes Tommy Wiseau and Greg Sestero at 8 p.m. June 1 and June 4 at Cinemark Odessa 12, 4221 Preston Smith Road.The film is a dark comedy thriller written by Sestero, the New York Times best-selling author of “The Disaster Artist.” Attendees will also see exclusive behind-the-scenes footage and outtakes.Visit FathomEvents.com for tickets.The Shack in the Back, 11610 W. Highway 80 E., has scheduled Party on the Patio with live music starting at 5 p.m. every Wednesday night.Happy Hour is from 5 p.m. to 7 p.m.Call 561-5105 or visit www.shackintheback.com.The Courtyards of Odessa, 201 Parks Village Drive, has scheduled a concert by the Visiting Angels at 2 p.m. the fourth Thursday of each month.Admission is free.DANCELove To Dance Studio, 2817 JBS Parkway, Suite E-1, has scheduled Ballroom, Salsa, Bachata, Cumbia Pegadas and Belly Dance group classes for adults.Private lessons are also available. Call 349-1472 or visit www.lovetodancestudio.com.Ballet Folklorico Viva Mexico Dance Studio, 1212 W. 10th St., has scheduled Folklorico dance classes for all ages.Call 438-2590.The Midland/Odessa Dance Club offers dance lessons from 7 p.m. to 9 p.m. every Monday at the Moose Lodge, 2711 N. Dixie Blvd. Dances include the waltz, two-steps, swing and line dances.Call 638-3707 or email [email protected] Texas Legends in Line, a social line dancing group, has scheduled several line dancing classes for people interested in learning how to line dance.All levels of dancers are welcome. Beginner, intermediate and advanced dances will be fully demonstrated.Visit www.meetup.com/WestTexasLegendsInLine.West Texas Dance Club has scheduled dance nights with a live band from 7:30 p.m. to 10 p.m. Wednesdays at 208 E. VFW Lane.Bring a meat dish, vegetable, salad or dessert for the Birthday Night potluck dinner at 6:30 p.m. on the last Wednesday of each month.Admission is $5 for members and $6 for non-members.The dances are alcohol and smoke free events.Call Betty Berry at 528-6308.Ector County Friday Night Dance has scheduled dance nights with a live band from 7:30 p.m. to 10 p.m. Fridays at the Northside Senior Center, 1225 N. Adams Ave.The following live bands have been scheduled to perform in April.Today: Goodtimers.Admission is $5. Visitors are welcome.The dances are alcohol and smoke free events.Call 337-5281.EXHIBITIONSThe University of Texas of the Permian Basin, 4901 E. University Blvd., has scheduled the 2018 Junior/Senior Juried Art Exhibition through Thursday at Nancy Fyfe Cardozier Gallery in the Charles A. Sorber Fine Arts Studios on campus.Gallery hours are from 9 a.m. to 5 p.m. Monday through Friday and 2 p.m. to 5 p.m. Saturday and Sunday.Admission is free.Call 552-3288.The Ellen Noël Art Museum, 4909 E. University Blvd., has scheduled the following exhibits.“Modern Frescos: Ali Cavanaugh” is on display through May 13. The exhibit features the works of Cavanaugh, an internationally represented fine artist. Her paintings have been featured on book covers, countless internet features such as the Huffington Post, Fine Art Connoisseur, Hi-Fructose and in numerous print publications including The New York Times Magazine, American Art Collector and American Artist Watercolor. She has painted portraits for TIME magazine and The New York Times.“Captured by Detail: Camille Engel” is on display through May 20. The exhibit, which showcases a new body of work done in Engel’s realism style, celebrates the artist’s Tennessee home and showcases unique depictions of the Tennessee State Symbols.“Somehow, I Don’t Feel Comfortable: Momoyo Torimitsu” is on display through May 20. The exhibit features two giant, smiling pink bunnies facing off and pitching forward within a confined space. The work initially appears to be quite fun and whimsical, but is it? Known for addressing social issues, Torimitsu cramps the adorable bunnies into tight spaces to communicate her displeasure for what she calls “the cuteness syndrome” propagated by her native country, Japan’s Hello Kitty culture.Museum hours are from 10 a.m. to 5 p.m. Tuesday through Saturday (extended hours until 8 p.m. Thursday) and 2 p.m. to 5 p.m. Sunday.Admission is free and open to the public.Call 550-9696 or visit www.noelartmuseum.org.MIDLANDEVENTSLa Hacienda Event Center, 12600 Texas 191 Frontage, Midland, has scheduled the following music artists to perform.Today: Maluma.May 11: El Fantasma with Voz de Mando, Los Austeros de Durango and Kanales.June 15: Banda MS.Doors open at 7 p.m.Call 563-3737 or 800-668-8080 or visit www.haciendamidland.com.The Beer Garden, 7112 W. Highway 80, Midland, has scheduled Tejon Street Corner Thieves to perform at 8:30 p.m. today.Call 558-0772 or visit www.midlandbeergarden.com.The University of Texas of the Permian Basin has scheduled music scholarship auditions from 11 a.m. to 2 p.m. Saturday at the Wagner Noël Performing Arts Center, 1310 N. FM 1788, Midland.New students (regardless of major) entering UTPB for the fall semester can audition for a music scholarship.For more information or to register, visit www.utpb.edu/musicscholarship.Make-A-Wish North Texas has scheduled Wish Night West Texas from 6 p.m. to 10 p.m. Saturday at the Petroleum Club of Midland, 501 W. Wall St., Midland.This gala includes a fabulous live auction, live entertainment, dinner and cocktails.Proceeds will directly benefit children in and around the Permian Basin area that are battling critical illnesses. Support will help grant their wishes.For sponsorship information or tickets, email [email protected] Wagner Noël Performing Arts Center, 1310 N. FM 1788, Midland, has scheduled the following events.Saturday: 7:30 p.m., Midland Festival Ballet presents Vive La France!Monday: 8 p.m., Jason Isbell and the 400 Unit with special guest Richard Thompson.Tuesday: 7 p.m., Live on Stage presents The Four Freshmen.May 12: 7:30 p.m., MOSC Pops and Family Series: “Celebrating Our Heroes” featuring Gene Collins (narrator).May 16: 8 p.m., Buddy Guy and Jonny Lang.May 19: 11 a.m. and 5 p.m., Absolute Dance 2018 Recital: A Night at the Movies.May 23: 8 p.m., Joe Bonamassa.May 24: 8 p.m., Peter Cetera.May 30: 7:30 p.m., Broadway in the Basin presents Rodgers & Hammerstein’s “The Sound of Music.”June 16: Noon, 3:30 p.m. and 7 p.m., Cinema Under the Stars: Marvel Blockbusters featuring “The Avengers” (2012, PG-13), “Avengers: Age of Ultron” (2015, PG-13) and “Captain America: Civil War” (2016, PG-13).June 23: 7:30 p.m., Wynonna & The Big Noise.June 28: 8 p.m., Brit Floyd: Eclipse World Tour 2018.June 30: 8 p.m., Capturing Pablo: An Evening with Javier Peña and Steve Murphy.July 8: 8 p.m., Alison Krauss.July 21: Noon, 3:30 p.m. and 7 p.m., Cinema Under the Stars: Back to the Future Trilogy featuring “Back to the Future” (1985, PG), “Back to the Future Part II” (1989, PG) and “Back to the Future Part III” (1990, PG).Aug. 18: Noon, 3:30 p.m. and 7 p.m., Cinema Under the Stars: 80’s Classics featuring “E.T. the Extra-Terrestrial” (1982, PG), “The Karate Kid” (1984, PG) and “Ferris Bueller’s Day Off” (1986, PG-13).Aug. 26: 7:30 p.m., Kansas.Box hours are from noon to 5 p.m. Monday through Friday.For tickets or information, call 800-514-3849 or visit www.wagnernoel.com.The Midland-Odessa Symphony & Chorale has scheduled the concert lineup for the 2017-2018 season.The following concerts have been scheduled at the Wagner Noël Performing Arts Center, 1310 N. FM 1788, Midland (unless otherwise stated).Saturday: 7:30 p.m., MOSC Chorale presents Sounds of the Continent at Frist Presbyterian Church of Midland, 800 W. Texas Ave., Midland.May 12: 7:30 p.m., Pops and Family Series: Celebrating Our Heroes featuring Gene Collins (narrator).Programs and individuals scheduled to perform are subject to change.All ticketing is handled through the Wagner Noël Performing Arts Center.Box hours are from noon to 5 p.m. Monday through Friday.For tickets or information, call 800-514-3849 or visit www.wagnernoel.com.Cody Johnson is scheduled to perform live in concert at 8 p.m. Saturday at the Midland County Horseshoe Amphitheater, 2514 Arena Trail, Midland.Doors open at 7 p.m.Call 682-1300 or visit midlandhorseshoe.com.The University of Texas of the Permian Basin Music Department has scheduled the following recital and concert Monday in the Rea-Greathouse Hall at the Wagner Noël Performing Arts Center, 1310 N. FM 1788, Midland.5:30 p.m.: Departmental Recital No. 112.7 p.m.: Brass and Woodwind Ensemble Concert.Sign-ups for the 2018 West Texas Talent Search competition start at midnight Tuesday.West Texas Talent is seeking individual or group dancers, singers, musicians, comics, poets and more of all ages and experience to compete for thousands of dollars in cash and prizes.Preliminaries will be held at the following locations.June 2: 2 p.m., Holiday Inn, 1305 E. Coliseum Drive, Snyder.June 16: 2 p.m., MCM Eleganté Hotel, 801 Ave. Q, Lubbock.July 14: 2 p.m., MCM Eleganté Hotel, 5200 E. University Blvd., Odessa.July 21: 2 p.m., DoubleTree by Hilton Hotel, 117 W. Wall St., Midland.The semi-finals and finals will be held Sept. 2-3 at the MCM Grandé Hotel and FUNDome, 6201 E. Business 20, Odessa.For rules, applications and more information, call 978-7405 or visit www.westtexastalent.com.Rockin’ Rodeo, 4400 N. Big Spring St., Suite D46, Midland, has scheduled the following music artists to perform.Thursday: Reckless Kelly.May 24: Shotgun Rider.Doors open at 8 p.m.Call 682-0400 or visit www.rockinrodeomidland.com/events/index.The sixth annual Jockeys, Juleps and All That Jazz fundraiser benefiting Communities in Schools Permian Basin has been scheduled from 7 p.m. to 11 p.m. May 4 at the Petroleum Club of Midland, 501 W. Wall St., Midland.There will be dinner, libations and live music.Call 205-1364 or visit cispb.org.The Aphasia Center of West Texas has scheduled a Beach Boys tribute concert by the band Surf’s Up at 7:30 p.m. May 4 at the Midland County Horseshoe Arena, Pavilion & Amphitheater, 2514 Arena Trail, Midland.Gates and food vendors open at 7 p.m.General admission is free. Bring a lawn blanket, or chairs can be rented for $5. No outside chairs, food or drinks allowed.For more information, visit www.aphasiawtx.org.Odessa Chuck Wagon Gang Clay Shoot has been scheduled from 8 a.m. to noon May 12 at Jake’s Clays, 13301 FM 1379, Midland.Lunch will be provided by the Odessa Chuck Wagon Gang. One in 10 will win a prize.Cost is $175 per shooter.Visit www.ocwg.org.The Midland RockHounds and The Beer Garden have scheduled the Beer Garden Brewstival starting at 3 p.m. May 12 at the Cimarex Pavilion at Security Bank Ballpark, 5514 Champions Drive, Midland.Explore new beers, find some old favorites, eat some delicious food from the food truck caravan, and listen to live music.Tickets are $35 in advance and $45 the day of the event. Each ticket includes five drink tickets.For tickets, visit http://www.milb.com/tickets/tickets.jsp?sid=t237.Tall City Blues Fest has scheduled Wang Dang Doodle featuring Nakia and the Blues Grifters at 8:30 p.m. May 12 at the DoubleTree by Hilton Hotel Midland Plaza, 117 W. Wall St., Midland.Tickets are $20 in advance and $25 the day of the show.For tickets, visit tinyurl.com/y7fqdsll.Midland Community Theatre, 2000 W. Wadley Ave., Midland, has scheduled an Elvis tribute show featuring Vince King at 7 p.m. June 1 in the Davis Theatre.King, a multi-award winning Elvis tribute artist, will perform along with special guest Moses Snow and a special appearance from Midland’s own Dee Carter.For more information or tickets, call 832-312-0074, email [email protected] or visit www.vincekinglive.com.Fathom Events has scheduled “Best F(r)iends: Volume Two” starring cult-movie heroes Tommy Wiseau and Greg Sestero at 8 p.m. June 1 and June 4 at Regal Tall City Stadium 14 with IMAX, 4915 W. Loop 250 N., Midland.The film is a dark comedy thriller written by Sestero, the New York Times best-selling author of “The Disaster Artist.” Attendees will also see exclusive behind-the-scenes footage and outtakes.Visit FathomEvents.com for tickets.The Newsboys United Summer 2018 Tour have been scheduled to perform in concert at 6 p.m. July 1 at the Midland County Horseshoe Pavilion, 2514 Arena Trail, Midland.Doors open at 5 p.m.Current Newsboys members Michael Tait, Duncan Phillips, Jeff Frankenstein and Jody Davis will perform, along with former bandmates Peter Furler and Phil Joel.The concert also features special guest Zealand, which is founded and fronted by Joel, along with a special appearance by singer/songwriter Adam Agee.Tickets prices range from $20 to $100.Call 682-1300 or visit midlandhorseshoe.com.La Hacienda Event Center, 12600 Texas 191 Frontage, Midland, has scheduled Midessa Festival featuring Intocable, Bobby Pulido, AJ Castillo and Gary Hobbs on July 28.Doors open at 2 p.m.There will be fun for the whole family, activities for kids, food and more.Call 563-3737 or 800-668-8080 or visit www.haciendamidland.com.DANCEWest Texas Legends in Line, a social line dancing group, has scheduled line dancing classes for people interested in learning how to line dance from 7 p.m. to 8:30 p.m. Tuesdays at Midland Senior Center, 3303 W. Illinois Ave., Suite 18, Midland.All levels of dancers are welcome. Beginner, intermediate and advanced dances will be fully demonstrated.Shoes with slick soles (like cowboy boots) are encouraged.Admission is free.Visit www.meetup.com/WestTexasLegendsInLine.The Permian Basin Dance Club has scheduled dance nights with a live band from 7:30 p.m. to 10 p.m. Tuesdays at the Crown Royal Club, 1110 E. Scharbauer Drive, Midland.Admission is $6 for members and $8 for guests.Call 631-6125 or email max[email protected] Museum of the Southwest, 1705 W. Missouri Ave., Midland, has scheduled the exhibition, “The Fragile Bee,” composed of photographs, prints and mixed media installation by artist Nancy Macko, through July 8.Macko’s work focuses on two extensive themes: flora and bees. The exhibition consists of two components: “Botanical Portraits,” photos of bee-attracting flora; and “Honey Teachings: In the Mother Tongue of the Bees,” an installation consisting of more than 100 hexagonal panels of bee imagery and referential texts, some of which are also affixed to the wall. This compelling work is meant not only to inform the public about the plight of the bees but also to raise awareness of our interdependent relationship with them.A brunch reception with Macko has been scheduled at 10 a.m. May 12 at the Turner Memorial Art Museum, followed by an artist talk at 1 p.m. Admission is free.Museum hours are from 10 a.m. to 5 p.m. Tuesday through Saturday and 2 p.m. to 5 p.m. Sunday.Call 683-2882, email [email protected] or visit MuseumSW.org.ALPINEEVENTSSul Ross State University, 400 N. Harrison St., Alpine, has scheduled the Tony Award-winning musical, “Man of La Mancha” at 8:15 p.m. today and Saturday and at 2 p.m. Sunday in Marshall Auditorium.Inspired by Miguel de Cervantes and his famed novel, “Don Quixote,” the musical tells the story of the “mad” knight Don Quixote as a play within a play, performed by Cervantes and his fellow prisoners as he awaits a hearing with the Spanish Inquisition.Tickets are $12 for adults and $10 for senior citizens and children.Call 432-837-8218 or visit sulross.edu/theatre.EXHIBITIONSSul Ross State University has scheduled the annual Juried Student Art Exhibition through May 10 in the Main Gallery of the Francois Fine Arts Building on campus.A student reception will be held from 5:30 p.m. to 6:15 p.m. Wednesday and winners will be announced at 5:45 p.m. Ballots for the People’s Choice award may be cast until 4:45 p.m. Wednesday, with only one vote per person.Gallery hours are from 8 a.m. to 5 p.m. Monday through Friday.For more information, email Carol Fairlie at [email protected]; Avram Dumitrescu at [email protected]; or Gregory Tegarden at [email protected] of the Big Bend at Sul Ross State University, 400 N. Harrison St., Alpine, has scheduled the 32nd annual “Trappings of Texas” exhibit through May 27.The exhibit features custom cowboy gear and western art.Museum hours are from 9 a.m. to 5 p.m. Tuesday through Saturday and 1 p.m. to 5 p.m. Sunday.Admission is free. Donations are welcome.For more information, call 432-837-8143 or visit www.museumofthebigbend.com.DALLASEVENTSCircle in the Square Theatre School of New York is holding auditions Thursday in Dallas for professional two-year workshops and a seven-week summer workshop in both acting and music.The school, affiliated with a Broadway theater, will provide students with attention in small classes led by professional actors, directors and playwrights.Alumni of the school include Philip Seymour Hoffman, Kevin Bacon and Idina Menzel, among others.Scholarships are available.For information, call the school at 212-307-0388, e-mail [email protected] or visit www.circlesquare.org.FORT STOCKTONEVENTSThe Garage Coffee, Music & More, 1110 N. Main St., Fort Stockton, has scheduled the following music artists to perform.Saturday: 7 p.m., Ethan EckertMay 4: 7 p.m., Society of Broken Souls.Tickets are $5. Children age 7 and under get in free.Call 432-701-0588 or visit TheGarageTX.com.MARFAEXHIBITIONSBallroom Marfa has scheduled the unveiling of Haroon Mirza’s “stone circle” sculpture during the full moon on Sunday.The entrance to “stone circle” is located east of Marfa at the end of Golf Course Road, across from the entrance to the Marfa Municipal Golf Course in Marfa.Gates open at 8 p.m. Activation of the sculpture will begin with last light at 9:03 p.m.An artist talk with Mirza has been scheduled at 11 a.m. Sunday in the gardens at The Capri, 601 W. San Antonio St., Marfa.Call 432-729-3606, email [email protected] or visit www.ballroommarfa.org.Greasewood Gallery in the Hotel Paisano, 207 N. Highland Ave., Marfa, has scheduled an exhibit featuring illustrations from “Marfa for the Perplexed,” a new book written by Lonn Taylor and illustrated by Avram Dumitrescu, through May 28.“Marfa for the Perplexed” is a collection of historical essays about Marfa and the surrounding areas that were first published by the Big Bend Sentinel. The drawings for the book were all created completely digitally, apart from the cover, which was based on a painting Dumitrescu, a Sul Ross State University assistant professor of Art, had previously created.Gallery hours are 8 a.m. to 8 p.m. Monday through Saturday and 8 a.m. to 6 p.m. Sunday.Visit http://avramdesert.blogspot.com and www.onlineavram.com to view art by Dumitrescu.Ballroom Marfa, 108 E. San Antonio St., Marfa, has scheduled “Hyperobjects,” a group exhibition co-organized by philosopher Timothy Morton and curator Laura Copelin, through September.The exhibition takes its name and organizing principles from Morton’s 2013 book, “Hyperobjects: Philosophy and Ecology After the End of the World.” In Morton’s writing, hyperobjects are “entities that are so massively distributed in time and space as to transcend spatiotemporal specificity, such as global warming, styrofoam and radioactive plutonium.” The exhibition uses ideas from Morton’s theory to confront the overwhelming scale of today’s ecological crisis. The project includes objects and installations from the world of contemporary art alongside objects sourced from the local environment.Gallery hours are from 10 a.m. to 6 p.m. Wednesday through Saturday and 10 a.m. to 3 p.m. Sunday.Admission is free and open to the public.Call 432-729-3606, email [email protected] or visit www.ballroommarfa.org.SHEFFIELDEVENTSFort Lancaster State Historic Site, 629 Fort Lancaster Road, Sheffield, has scheduled the 2018 Western Frontier Days May 18-19.Experience a typical day on the Texas frontier and learn about life at this historic military fort with a variety of living history stations.There will be soldiers, pioneers, chuck wagons, livestock, camels, a stagecoach and more.For more information, call 432-836-4391 or visit tinyurl.com/[email protected] Facebook Pinterest WhatsApp Twitter What’s Going On Facebook By admin – April 27, 2018
Top StoriesLoan Moratorium- Real Estate, Power Sectors Not ‘Persons Affected By Disaster’ For Relief In Loan Repayment: Harish Salve Tells SC Mehal Jain16 Dec 2020 8:15 AMShare This – xIn the course of the loan moratorium hearing on Wednesday, it was urged on behalf of the Indian Banks Association that because of the court’s directions, people who had no hope of debt-restructuring are now enjoying because their accounts cannot become NPA, and hence, the moratorium must now come to an end.The bench of Justices Ashok Bhushan, R. Subhash Reddy and M. R. Shah heard Senior…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?LoginIn the course of the loan moratorium hearing on Wednesday, it was urged on behalf of the Indian Banks Association that because of the court’s directions, people who had no hope of debt-restructuring are now enjoying because their accounts cannot become NPA, and hence, the moratorium must now come to an end.The bench of Justices Ashok Bhushan, R. Subhash Reddy and M. R. Shah heard Senior Advocate Harish Salve for the IBA.Resolution to be at the instance of banks and norms cannot be applied uniformly”What is resolution by the banks? Both Dr. Abhishek Manu Singhvi and Mr. V. Giri for the RBI have said that resolution is the right of the borrower and not the bank…Your Lordships are aware that the NPAs of the banks had reached threatening proportion. At that time, the IBC was brought….Banks would always takes steps to rectify the loans which have fallen bad and commercial banks all over the world do that. This is what is called resolution. The banks have their own norms for restructuring of the loans, which the Kamath Committee has now relaxed. The heart of the resolution plan is that the borrower should be able to repay his debt if his immediate obligations are deferred”, he explained.”It was argued that the pandemic has brought about frustration, so the borrowers have been relieved from paying the loans back. But the fundamental aspect of frustration has been overlooked. If you argue frustration, be ready for the logical consequence. There will be restitution”, he continued.”There is a phrase called Debt Coverage Ratio (DCSR). It means that the amount of cash flow should be such that it can cover the debt. Kamath indicated, sectorally, what reforms banks should adopt in the restructuring. To suggest that it should be left to the borrower to decide whether the debt is resolvable or not is unstateable. It is for the lender to decide whether the situation can be resolved or whether bankruptcy has to be proceeded with. The downside of Your Lordships’ interim order is that the businesses which have gone flat, by their own reasons or on account of the pandemic or because of a little of both, their accounts can’t be declared bad. Resolution is a restructuring of the debt and the banks cannot uniformly apply norms”, submitted Mr. Salve.He advanced that even though the SBI has majority government share, it is a listed company; that banks are listed companies with private shareholders. He explained that when we see banks and government as seamless, in asking banks to write off debts, we are actually asking the government to write them off. When banks give relief, it is the government which supplies them the money that they lose. “Asking the court to judicially review, it is not correct.The challenge to the resolution packages of the banks is misconceived”, he argued.’People affected by disaster’As regards the larger issue of what are the rights which can be enforced as regards borrowers generally or any specific sector, Mr. Salve urged that this proceeding has metamorphosised from a public interest litigation to nudge the government to help people who are jobless and have zero cash flow to large commercial interests. “Your Lordships have an application by the CREDAI, asserting that the real estate market had met the pandemic under unfavourable market conditions, and further damage has been caused by Covid. Has any material been placed on record to show how wobbly their house was before? No. It is claimed that the real estate sector has been brought to a standstill by the lockdown as there was no possibility of any work from home. But during lockdown I and II, every industry was closed. They have spoken of the nonavailability of sufficient labour and the reduced purchasing power of the banks. This is way beyond relief for any disaster!”, he contended.”The economic sentiment is such that if I have money in the bank, I don’t want to invest it but I want cash-in-hand. Restaurants say that they are open but the customers are running away. The shopkeepers say that the mood is sombre despite the festive season. Does disaster management say that because people are spending less, cheques should be written to everybody by the government? Is this a case where your house has been swept away? Or where a road has broken?”, he argued.”But there is a special provision in section 13 (of the DM Act, 2005). The government has to consider everything and allocate money for everyone. But when there is a special provision…?”, asked Justice Bhushan.SG Tushar Mehta interjected to submit that section 13 has been considered by the government, and that for good reason, the government did not find it possible or permissible or in public interest. “Section 13 does not let them off the hook. Section 13 provides for recommendation by the National Disaster Management Authority of relief as regards repayment of loans or for grant of fresh loans to persons affected by the disaster on concessional terms. Government may scale down the interest or capitalise interest, I understand that, but who are these ‘people affected by the disaster’? These are the Tier 1 people, who have suffered as the immediate consequence of the disaster, and not the Tier 2 and Tier 3 people, who are the result of the culmination of the problem”, he replied.He cited as example the terrible earthquake of Gujarat, on account of which not only the businessmen based in Gujarat and their employees, but also their business compatriots outside the affected area- the suppliers in Maharashtra, Punjab and Tamil Nadu, who were in business with the tradesmen in Gujarat, were affected. “So there are layers of the impact…Your Lordships were hearing 32 petitions by homebuyers long before the pandemic. There were Unitech and Amrapali and Jaypee, who threw up their hands in the air and said ‘the market is dead, what should we do’. If you’re already fragile, then a small wind may also be too much to tip over. That is not the effect of a disaster”, he contended.”If there are floods in Uttarakhand, the Northeast, Bihar, you may say ‘write off the interest’ or securitise the interest. But can this be applied uniformly to all? Can it be challenged that the government packages be struck down as violative of Article 14? No! The CREDAI or the real estate companies are not ‘persons affected by the disaster’. The economy was bad, the customers had gone, the liquidity had gone. It is worse now because the economy is contracting by 8%. People are not paying taxes because they don’t have money and also because the incomes are zero. Shops are closing so there is no question of any GST. Advance budget of the government has gone awry!”, argued Mr. Salve.”There is nothing in the DM Act which informs the court or which informs the system that there can be adjustment of equities by executive fiat”, suggested Mr. Salve.”Home delivery has done better than ever. Netflix has become $1 billion company. Furniture business is thriving. However, all restaurants have become zero. You win some, you lose some. You can’t by an executive fiat direct that the ones who are doing well pay the ones who are not. Your Lordships have been asked to ask the banks to write off loans, extend the moratorium. So why not ask the businesses which are doing well to pay those which are not?”, contended Mr. Salve.”In dealing with the CREDAI, can Your Lordships say that if their voice is not heard, the court will intervene. Powerful interests of builders will have a voice which will not be heard? I find it hard to believe”, he advanced.Statutory Framework under the Disaster Management Act is inclusive and not exclusive”What is the government expected to do?”, asked Justice Reddy.Mr. Salve explained that the government must address the problems of everybody who is affected and not just the three sectors which happen to be before the court- “There are jobless labourers, so it is the responsibility of the government to provide them social security. There are people in the hospital, so the government in a welfare state must ensure that they are attended to. There are people whose business has changed, so the government must see what it can do for each business. Britain came out with a furlough scheme – if you let go of your employees, we will only give them £2500 as against the £10,000-£12,000 which they were initially making. They said we are not hearing eviction cases because we know that the tenant cannot pay the rent””The issue which lies at the heart of the matter is the construction of the Disaster Management Act. The DM Act creates an architecture for government action in the matters of disaster, both for prevention and mitigation. The statutory framework of the Act is inclusive and not exclusive. The fundamental duty of good governance is not encapsulated by the law. If something is not written within the law, it can’t be said that it should not be done. The readjustment of private rights is also not provided in the Act. So if there are 5 companies which are doing well and there are 15 others which are not doing well, should the former give loans to the latter? This is what Your Lordships are being invited to do”, advanced Mr. Salve.Mr. Salve submitted that there was a time when there used to be talks of growth rate, but, as per a Moody’s report, India might be doing better than expected because the “shrinkage has dropped”. He advanced that is a tricky situation, where every government, including those of the affluent countries like the US, is grappling, but the government must do something for every sector. “The taxpayers have been asked to file returns later. They may even be given relief later. But you need money from the taxpayers to spend money!”, he remarked.He expressed the stand that the government must look at the power and real estate sectors but its duty is not exhausted by the DM Act, that it is responsible for bringing the economy back on its feet, and that it will even have to take macro economic measures towards this end. “Why has the power not been vested in the NDMA to decide as regards that the relief in repayment of the loan or grant of fresh loans? Ultimately, the management is to be left to the Ministry of finance and the RBI. This is because the loans are at multiple levels – banks, Non-Banking Financial Institutions, state financial institutions, building societies etc. The width of the NDMA is limited. That is why the term ‘recommend’ has been used. The power has been created to cut down the federal structure. Nobody can say that I am from a particular state so you can’t tell me what to do”, he explained.”The NDMA has applied its mind to 13. They said the RBI has done so and so, they saw that the moratorium effect on the borrowers vis-a-vis the lenders has been balanced, they saw the resolution framework, the relief measures of the government were looked into. The recommendation is that the relief for the eligible borrowers is already available. They said that 13 has been worked out. There is nothing more to do. We can’t recommend anything more”, advanced Mr. Salve.”Please see section 13 again- ‘disasters of severe magnitude’. Restructuring is also relief for the purpose of section 13. Various plans are contemplated”, observed Justice Bhushan.Mr. Salve replied that relief is a word of width, that it can be understood in four ways – elimination of the burden of interest for a period; capitalisation of interest, so that there is no interest on interest; relief on the rate of interest, that is, scaling down the rate of interest; and moratorium for repayment.”They (NDMA) considered each of these elements. The SG’s written submissions state that they looked at 13 and had that in mind. It reads that moratorium is for the purpose of mitigating the burden of debt servicing and deferring interest on working capital loans. Then there is the other solution where accounts do not become NPA. They recognise that moratorium has a cost. That is why a large number of borrowers didn’t avail of it. They recognise that the moratorium affects the banks adversely- What do we do? Forego interest of depositors? We can’t do that. Should the public exchequer pay them? They recognise that the banks are expecting rise in the NPAs. 8% shrinkage will lead to bankruptcies galore. What aspect have they failed to apply their mind to?”, contended Mr. Salve.”Must they (NDMA) first recommend and then the authorities should act? No. The architecture of the Act is such that all authorities act simultaneously and parallel to each other. Otherwise, the disaster will overtake India before bureaucratic paperwork is over”, advanced Mr. Salve.He took the bench through the provisions of the DM Act- Section 6 on NDMA which primarily has policy-making power; section 10 on the powers of the National Executive Committee, which provides assistance to the states. Then, there are the State Disaster Management Authorities. He explained that all of these authorities have overlapping powers because they work together and separately. “This is the message of the law”, he remarked.Indicating section 35 on measures by the central government on disaster management, he advanced that the government has to act apart from this law, apart from the NDMA. Under Section 37, every ministry and department of the government of India has been made responsible to prepare disaster management plans. There is a similar provision for the state governments in section 38. Chapter 9 of the Act deals with finances, accounts, audits. A National Disaster Response Fund and a Disaster Mitigation Fund has to be created by the Central government and each state government. Section 49 requires that every ministry of the government of India and each state must have a disaster budget.”Now there are complaints of being treated badly by the banks. There are millions of borrowers and tens of thousands of employees. Not everybody is polite. In individual cases, there may be problems. It is a service industry”, he continued.”The banks are accepting that they are duty-bound to comply with the RBI and the government directions in letter and spirit. Your Lordships directions are being followed. But there can be no blanket ban against interest to be recovered from everybody. This is wrong. Please close this matter now”, he concluded.Next Story
Sex differences in lifespan and aging are widespread among animals. Since investment in current reproduction can have consequences on other life-history traits, the sex with the highest cost of breeding is expected to suffer from an earlier and/or stronger senescence. This has been demonstrated in polygynous species that are highly dimorphic. However in monogamous species where parental investment is similar between sexes, sex-specific differences in aging patterns of life-history traits are expected to be attenuated. Here, we examined sex and age influences on demographic traits in a very long-lived and sexually dimorphic monogamous species, the wandering albatross (Diomedea exulans). We modelled within the same model framework sex-dependent variations in aging for an array of five life-history traits: adult survival, probability of returning to the breeding colony, probability of breeding and two measures of breeding success (hatching and fledging). We show that life-history traits presented contrasted aging patterns according to sex whereas traits were all similar at young ages. Both sexes exhibited actuarial and reproductive senescence, but, as the decrease in breeding success remained similar for males and females, the survival and breeding probabilities of males were significantly more affected than females. We discuss our results in the light of the costs associated to reproduction, age-related pairing and a biased operational sex-ratio in the population leading to a pool of non-breeders of potentially lower quality and therefore more subject to death or breeding abstention. For a monogamous species with similar parental roles, the patterns observed were surprising and when placed in a gradient of observed age/sex-related variations in life-history traits, wandering albatrosses were intermediate between highly dimorphic polygynous and most monogamous species.
FacebookTwitterLinkedInEmailFootball3-A Playoffs First RoundNEPHI, Utah-Trey Lund ran for 108 yards and four scores on nine carries (12 yards per pop) as the Juab Wasps ran roughshod over the South Sevier Rams 54-6 in the first round of the 3-A football playoffs Friday.The Wasps amassed 398 yards of offense on 47 plays (8.5 yards per snap) and ran for 301 yards on the afternoon.In Cade Bowring’s absense, Bodee Blackett (5 touches, 167 scrimmage yards, rush TD) was brilliant, while Zac Cowan (5-9 96 yards, rush TD) was spot-on for the 10-1 Wasps. Jared Dye also had a 26-yard touhdown run to pace Juab.Additionally, Brock England made a 44-yard field goal and freshman kicker Ryker Richards made a 39-yard field goal to contribue to the Wasps’ decisive victory.In defeat, Noah Ramsey (6-14, 118 yards, TD/INT) threw an 85-yard scoring pass to Brody Carter (3 rec, 106 yards, TD) for the Rams, who end this campaign at 2-9. The Wasps next draw ALA in the 3-A state quarterfinals Friday at 4:00 pmDRAPER, Utah-Jayden Madry had scoring runs of 53, 73, 3 and 16 yards as the Juan Diego Soaring Eagle hammered Delta 42-7 Friday in the first round of the 3-A playoffs. Jake Jackson had a 3-yard touchdown run in the loss for the Rabbits.Juan Diego next faces North Sanpete next week in the 3-A state quarterfinals.MT. PLEASANT, Utah-Brady Jacobson and Laramie Roberts each returned interceptions for touchdowns and the North Sanpete Hawks smacked Emery 42-0 in the first round of the 3-A state football playoffs Friday.Kaden Taylor had scoring runs of 15 and 12 yards and Connor Jorgensen had touchdown runs of 30 and 6 yards in the rout for the top-seeded Hawks.MANTI, Utah-Jax Parry threw four touchdown passes and the Manti Templars pummeled the Grand Red Devils 35-14 Friday in the first round of the 3-A state playoffs. Parry’s touchdown passes went to Ryker Hewko (3 and 25 yards), Travis Thompson (79 yards) and Austin Cox. Seth Jensen added a 1-yard touchdown run as well for the Templars. Manti hosts Morgan Friday at 4:00 pm in the state quarterfinals.BLANDING, Utah-Gavin Brown threw a 25-yard touchdown pass to Brittyn Riddle and Riddle added scoring runs of 50 and 3 yards, as the Richfield Wildcats downed San Juan 41-20 Friday in the first round of the 3-A state football playoffs. Brown also added a pair of touchdown runs (41 yards and 1 yard) with Kordell Morgan adding field goals of 18 and 21 yards for the Wildcats. Richfield next faces Grantsville Friday at 4:00 pm in the state quarterfinals.2-A Playoffs First RoundMONTICELLO, Utah-Trey Chatterly had touchdown runs of 52, 44 and 52 yards as the Kanab Cowboys decimated Monticello 74-0 Friday in the first round of the 2-A playoffs. Jace Seely, Michael Warino, Karson Blomquist, Kyle Blomquist, Gannon Franklin and Travis Stewart also had touchdown runs for the Cowboys.Sam Orton also threw a 21-yard touchdown pass to Karson Blomquist and Luke Browning returned an interception 20 yards for a score for the Cowboys. Kanab next visits Beaver Friday in the 2-A state quarterfinals.COALVILLE, Utah-Taylor Crane threw a 38-yard touchdown pass to Hunter Higgs and added a pair of short scoring runs as the North Sevier Wolves downed North Summit 21-11 Friday in the first round of the 2-A state football playoffs. Matagi Faavale had a touchdown run and Carsen McKnight added a 29-yard field goal in defeat for the Braves. North Sevier next visits Milford in the 2-A state quarterfinals Friday. Written by October 25, 2019 /Sports News – Local Prep Sports Roundup: 10/25 Tags: Bodee Blackett/Brock England/Brody Carter/Cade Bowring/Juab Wasps/Noah Ramsey/Ryker Richards/South Sevier Rams/Zac Cowan Brad James