IPL all set to start amid covid surge

News Network
April 7, 2021

Mumbai, Apr 7: The Indian Premier League is not only one of the world's most lucrative annual sporting properties but also among the most durable, with not even the lengthening shadow of the Covid-19 pandemic apparently able to stop the Twenty20 juggernaut.

Last year's delayed tournament was shifted to the United Arab Emirates but the 14th edition returns to India, where the coronavirus situation has worsened significantly in recent weeks.

The surge in new cases could yet scupper plans to host the tournament in bio-secure bubbles at six venues across the country, starting on Friday in Chennai and climaxing at the world's largest cricket stadium in Ahmedabad on May 30.

The Indian cricket board (BCCI), however, is bullish about the chances of pulling it off.

"We did it successfully in Dubai last year. We are confident we are going to do it again this time," BCCI chief Sourav Ganguly told the press.

Champions Mumbai Indians, captained by Rohit Sharma, and Virat Kohli's Royal Challengers Bangalore get the eight-team tournament going at M.A. Chidambaram Stadium on Friday.

Both teams have already been hit by Covid-19 cases in their camps, however, raising questions over the effectiveness of the health protections afforded to the cricketers by the bubble.

Players will be well compensated for their stint in India as, even without ticket sales, the IPL was still worth $6.19 billion last year, according to financial consultancy firm Duff & Phelps. That was down from $6.78 billion in 2019.

The BCCI would have been left with a $542 million hole in its coffers if it had cancelled its flagship event last year but ended up with record TV and digital viewership.

With curfews currently in force in many Indian states, the IPL can be expected to surpass last year's viewership numbers with cricket fans in the world's second most populous nation set to be glued to TV sets and electronic devices.

Bhairav Shanth, the managing director of global sport consulting firm ITW, said interest among advertisers has been high this year and predicted a windfall for broadcasters because of the "tremendous" pull of the IPL.

"For a tournament that is having another edition barely six months removed from the last one, the appetite has been fantastic," Shanth told Reuters. "In 2020, there was a slight dip in deal volume and sizes.

"But now as we see this edition occupy the prime summer slot with nothing else significant on TV to compete against, we have already seen new partners come on board in the league at a premium of 30-40 per cent from what it was last year."

Even the recent spike in the number of Covid-19 cases has not deterred the cream of world cricket from heading to India, where the T20 World Cup will also be held later this year.

Rajasthan Royals all-rounder Ben Stokes has been delighted to see so many of his England colleagues plying their trade in recent editions of the IPL.

"Being constantly exposed to that is a huge benefit to us as a team, especially with the T20 World Cup coming up at the end of the year in India," he told Sky Sports.

"It's a great chance for the English guys to get more experience in these conditions." 

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News Network
November 19,2024

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The Karnataka Police’s Anti-Naxal Force (ANF) achieved a major breakthrough on Monday night by eliminating Vikram Gowda, one of Karnataka’s most wanted Naxal leaders for over two decades. The encounter occurred in the dense Kabbinale forest of Udupi district, marking a significant victory against Naxal insurgency in the region.

Who Was Vikram Gowda?

Hailing from Hebri in Udupi, Vikram Gowda, 44, was a prominent figure in the Naxal movement. He went underground in 2002, initially serving as a courier and fund collector before rising to lead a breakaway Naxal group. Despite having only a fourth-grade education, he was a staunch advocate for tribal rights and a key player in the movement’s survival in Karnataka.

Bounty: ₹3 lakh from Karnataka and ₹50,000 from Kerala.

Legacy: The last major Naxal leader in Karnataka after the 2021 arrest of B G Krishnamurthy.

The Encounter

Police revealed that Gowda and his team visited Kabbinale village to collect groceries on Monday night. Acting on a tip-off, ANF ambushed the group. When the Naxals opened fire, ANF responded, leading to Gowda's death.

Escapees: Three Naxals fled, including prominent members Latha (aka Mundgaru Latha) and Raju.

Significance: This was the first Naxal casualty in Karnataka in over two decades.

Home Minister G. Parameshwara confirmed the operation, stating, “Gowda was elusive for 20 years, escaping multiple encounters. His death is a critical step in dismantling Naxal operations in the region.”

The Decline of Naxal Activity in Karnataka

Karnataka's Naxal movement has been dwindling, with members seeking refuge in Kerala and Tamil Nadu. The group’s strength had reduced to just 19 members by 2018, but recent sightings indicate attempts at revival:

2023 Activity: Reports of Gowda-led movements in the Kodagu and Hassan districts reignited concerns.

Political Heat: The BJP criticised the Congress government, alleging it created a “safe haven” for Naxals.

A Glimpse into Gowda’s Past

Personal Life: Gowda’s ex-wife, Savitri (alias Rajita), was arrested in 2021. She was a senior Naxal commander involved in insurgency since 2004.
Rehabilitation Efforts: Since 2013, Karnataka’s rehabilitation policy has seen 14 Naxals surrender and reintegrate into mainstream society.

A Milestone in Karnataka’s Fight Against Insurgency

The operation signifies a decisive blow to Naxal resurgence in the Western Ghats. While the ANF continues its search for escapees, the Karnataka government reaffirmed its commitment to offering rehabilitation to those willing to surrender.

As Karnataka celebrates this triumph, the message is clear: there is no room for insurgency in the state.

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News Network
November 16,2024

Mangaluru: The Kavoor police in Mangaluru, Karnataka, have arrested three individuals from Kerala in connection with two separate cybercrime cases, including one involving extortion under the guise of a "digital arrest."

City Commissioner of Police Anupam Agrawal reported that one of the arrested individuals, Nisar, a resident of Ernakulam district, posed as a CBI officer. He allegedly threatened the complainant with arrest and extorted Rs 68 lakh. A case has been filed under sections 66 (C) and 66 (D) of the IT Act, and sections 308 (2) and 381 (4) of BNS.

In another case, the Kavoor police arrested two men, Sahil K P of Thiruvannur, Kozhikode, and Muhammad Nashath of Mappila Koyilandy, Kerala, in connection with a share trade fraud. The accused are alleged to have deceived the complainant by promising substantial profits from an investment in the stock market. Trusting the fraudsters, the complainant invested Rs 90 lakh, which was subsequently lost. A case has been registered under sections 66 (C) and 66 (D) of the IT Act, and sections 318 (4) and 3 (5) of BNS.

The accused were arrested in Koyilandi and presented before the court. The operation was carried out under the guidance of City Police Commissioner Anupam Agrawal, led by Mangaluru North Sub-Division ACP Srikanth K, Kavoor Inspector Raghavendra Byndoor, Kavoor PSI Mallikarjuna Biradara, and staff members Ramanna Shetty, Bhuvaneshwari, Rajappa Kashibai, Praveen N, and Malatesh. 

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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