Air India bidders need to absorb $3.3 bn debt to buy carrier

News Network
January 27, 2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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News Network
September 20,2024

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New Delhi: The Supreme Court today sought a report from the Karnataka High Court over controversial remarks made by Justice Vedavyasachar Srishananda during a recent court hearing.

Justice Srishananda, while addressing a landlord-tenant dispute, referred to a Muslim-majority area in Bengaluru as "Pakistan" and made a misogynistic comment involving a woman lawyer. 

A five-judge bench led by Chief Justice of India DY Chandrachud, along with Justices S Khanna, B R Gavai, S Kant, and H Roy, expressed the need for establishing clear guidelines for constitutional court judges regarding their remarks in court. 

The Supreme Court bench said that when social media plays an active role in monitoring and amplifying courtroom proceedings, there is an urgency to ensure judicial commentary aligns with the decorum expected from courts of law.

"Our attention has been drawn to some comments made by Karnataka High Court judge Justice V Srishananda during the conduct of judicial proceedings. We have asked the AG and SG to assist us. We ask the registrar general of the High Court to submit a report to this court after seeking administrative directions from the Chief Justice of Karnataka High Court. This exercise may be carried out in 2 weeks," the top court directed.

Videos of Justice Srishanananda have gone viral on social media.

In one video, he refers to a Muslim-dominated locality in Bengaluru as "Pakistan" and on another video he was seen making objectionable comments against a woman lawyer. In the second incident, Justice Srishanananda can be heard telling the woman lawyer that she seemed to know a lot about the "opposition party", so much so that she might be able to reveal the colour of their undergarments.

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News Network
September 14,2024

Bengaluru: Karnataka Home Minister G Parameshwara on Saturday said the situation in violence-hit Nagamangala town in Mandya district is peaceful now, and steps have been taken to ensure that no untoward incidents take place.

Clashes had broken out between two groups during the Ganesh idol procession in the town, following which mobs went on a rampage with stone pelting and targeting several shops and vehicles leading to tension on Wednesday night.

"Situation in Nagamangala is now peaceful and there is no problem there. I have also instructed officials to hold a peace meeting there. We have instructed officers to ensure that no untoward incidents take place, enough police force is also stationed there," Parameshwara told reporters here.

About 55 people have been arrested in connection with the incident and they have been sent to judicial custody, according to police sources.

Responding to a question on opposition parties including JD(S) leader H D Kumaraswamy raising doubts about the FIR, he said, "The police will do what has to be done in accordance with law..."

Asked about BJP sending a fact finding team to Nagamangala, the Home Minister said, "Let them find the facts and inform us, and if there is any fact from their fact finding, we will look into it. It will make our work a bit easier." The BJP panel consisting of MLA C N Ashwath Narayan, former Minister Byrathi Basavaraj, former Minister K C Narayana Gowda, state secretary Lakshmi Ashwin Gowda, and former IPS officer Bhaskar Rao, will visit the spot and submit a comprehensive report to the party in a week.

According to police, an argument had broken out between two groups, when the Ganesh idol procession by devotees from Badri Koppalu village reached a place of worship on Wednesday, and some miscreants hurled stones, which escalated the situation.

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News Network
September 9,2024

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Mangaluru: The Unicode Consortium has announced the inclusion of Tulu script in its latest version, Unicode 16. This update adds 80 characters to the Unicode Standard, marking a significant milestone for the Tulu-speaking community.

According to officials, the journey to this achievement began in 2001 when a member of the Unicode Consortium helped fix the Kannada script in Unicode and simultaneously advocated for the inclusion of Tulu.

Despite initial misunderstandings with the Tulu Academy in Mangaluru, the groundwork was laid for future developments. Initially, three Tulu experts had worked on the subject, including S A Krishnaiah, a Tulu scholar.

"In 2014, efforts to create a Tulu Wikipedia gained momentum, leading to its launch on August 6, 2016. By 2017, the Tulu Academy recognised the need for Tulu Unicode, forming a committee to finalise the characters with technical guidance. Concurrently, another proposal for the Tilari script was submitted," Krishnaiah said.

After extensive correspondence, the script was officially added to Unicode under the name Tulu-Tigalari. While there are minor differences between the Tulu Academy's list and the finalised Unicode version, most characters have been included. Notably, Tulu digits and some diacritic marks necessary for writing Sanskrit in Tulu script were added, he said.

According to him, the inclusion of the Tulu script in Unicode will have a significant positive impact on digital communication for Tulu speakers, including enhanced digital presence. Tulu speakers can now use their native script across various digital platforms, including social media, websites, and messaging apps, fostering a stronger online presence.

The availability of Tulu in Unicode will facilitate the creation of educational materials, such as textbooks and online courses, in the Tulu script, supporting language learning and literacy, he said.

The development of Unicode-encoded fonts, keyboard software, and converters will streamline the use of Tulu in digital communication, making it easier for users to type and share information in their native script, he said.

Being part of the Unicode Standard gives Tulu global recognition, encouraging more software and application developers to support the script, thereby increasing its usability and visibility, the Tulu scholar said.

Overall, this will empower Tulu speakers to communicate more effectively and confidently in their language, both locally and globally.

It is estimated that over 1.8 million people worldwide speak Tulu. Most Tulu speakers live in the coastal areas of Karnataka and Kerala, India, in regions known as Tulu Nadu. There are also Tulu speakers in the Gulf countries and the United States, he said.

Tulu is a Dravidian language and is related to Kannada, the official language of Karnataka. Tulu has a rich oral tradition, but there isn't much written in the language. Tulu's script is similar to Malayalam and originated from the Grantha script.

A long-drawn fight is ongoing to include Tulu in the Eighth Schedule of the Constitution. The Dravidian University at Kuppam in Andhra Pradesh has a special Tulu chair, he added.

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