Pet cat stands guard against cobra for 30 minutes to protect family

News Network
July 22, 2021

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A pet cat proved that it can be just as good a friend as a dog, when it prevented a cobra from entering the house in Odisha’s capital Bhubaneswar.

The incident took place on Tuesday, July 20, evening at the house of Sampad Kumar Parida. A cobra slithered towards his house but met with a formidable roadblock - their pet cat.

On seeing the snake, Parida and his family panicked and called the snake helpline phone number. While they waited, the cat stood guard outside the house and prevented the snake from entering.

"Our cat prevented the cobra from entering inside for nearly 30 minutes till a team from the Snake Helpline reached the spot. He is around one and a half years old and lives with us like a family member," Parida said. 

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News Network
February 3,2023

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Mumbai, Feb 3: The brutal stock rout in Gautam Adani’s companies continued Friday, an indication that the billionaire needs to do more to restore confidence in his conglomerate’s financial health after accusations of fraud by Hindenburg Research.

The group’s 10 stocks all fell in early Mumbai trading, with $120 billion, or more than half of their combined value, erased since the US-based short seller last week claimed that offshore shell entities were used to inflate Adani group’s revenues and manipulate stock prices. Flagship Adani Enterprises Ltd. sank as much as 25%, taking its decline to 66% in seven trading sessions.

The continued slump reflects worries about Adani’s access to funding after the tycoon scrapped a key stock offering this week, and as long-held concerns about the group’s debt load were propelled onto the global stage by Hindenburg. The embattled tycoon is in talks with creditors to prepay some loans backed by pledged shares, as some banks stopped accepting the securities of the group that spans from ports to energy as collateral in client trades.

“Clearing of pledges may not help. Now the only point is investors are not just interested in clearing pledges, they want concrete plans and actions,” said Sameer Kalra, founder of Target Investing in Mumbai. “The use of every rupee on balance sheet is critical now. There are a lot of stakeholders.”

The crisis of confidence in Adani has become a national issue with opposition lawmakers disrupting parliament on Thursday to demand answers from Prime Minister Narendra Modi’s government, given how closely his interests are intertwined with the nation’s growth plans. Government officials have sought to downplay the impact.

Hindenburg Research last week accused the Adani group of “brazen” market manipulation and accounting fraud, claiming that a web of Adani-family controlled offshore shell entities in tax havens were used to facilitate corruption, money laundering and taxpayer theft.

The conglomerate has repeatedly denied the allegations, called the report “bogus,” and threatened legal action. Adani gave a video speech on Thursday stating that the group’s balance sheet is healthy.

The conglomerate has repeatedly denied the allegations, called the report “bogus,” and threatened legal action. Adani gave a video speech on Thursday stating that the group’s balance sheet is healthy.

In a reprieve for Adani, who has seen his personal fortune drop by $58 billion since the allegations, the group’s bonds rallied Friday after Goldman Sachs Group Inc. and JPMorgan Chase & Co. told some clients that the debt can offer value due to the strength of certain assets. All 15 dollar debt securities advanced, partly helped by news that Adani Ports & Special Economic Zone Ltd. has made a coupon payment on schedule.

Meanwhile, banks have been tightening scruty on Adani companies’ securities. Units of Credit Suisse Group AG and Citigroup Inc. earlier this week stopped accepting some securities issued by Adani’s companies as collateral for margin loans to wealthy clients.

Separately, Lord Jo Johnson, the former Conservative minister and brother of former UK prime minister Boris Johnson, has resigned as a director of Elara Capital, a London-based firm embroiled in the controversy at the Adani empire, the Financial Times reported. The firm was one of the 10 bookrunners on the record share sale that Adani Enterprises abruptly abandoned earlier this week.

Adani’s proposed loan prepayment would see lenders release some of the stock in the group’s companies that was pledged as collateral, Bloomberg News reported, citing a person with knowledge of the matter. The Indian group hasn’t faced margin calls on these pledges and is seeking the prepayment proactively, the person added.

“Markets are looking for clarity on allegations and are likely not calmed via clearing of pledges,” said Nitin Chanduka, a strategist with Bloomberg Intelligence.

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News Network
January 25,2023

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Bengaluru, Jan 25: Supporters of Vishwa Hindu Parishad in Karnataka protested against the release of Shah Rukh Khan’s newly-released movie Pathaan. Several supporters came out on streets with banners and posters demanding a boycott of the film. This comes hours after the VHP spokesperson earlier in the day said they will not oppose the film “for the time being”. 

“Keeping our earlier objections in mind, changes made in the film are correct. After watching the film, if we find anything objectionable, then we'll reconsider opposing the film,” VHP spokesperson Shriraj Nair said. 

On Tuesday, the VHP’s Gujarat unit had also withdrawn its protest against the film expressing satisfaction over removal of “objectionable” contents from the film. 

The film came under fire by the right wing groups for featuring actor Deepika Padukone in a saffron bikini in the song ‘Besharam Rang’. Several leaders, including from the Vishwa Hindu Parishad, had sought a ban on the film, which is scheduled to release on Wednesday.

The Central Board of Film Certification (CBFC) has revised the "obscene song" and "lewd words" in the film and hence the right-wing groups will no longer protest against its release, the Gujarat VHP's secretary Ashok Raval said in a statement.

Talking to news agency PTI, Raval claimed that in its recent circular, the censor board has made 40 to 45 corrections regarding songs, colour and clothes, which resolve the issues and hence, they no longer need to protest.

The right-wing groups had earlier threatened to stop the release of the film in Gujarat, while the state government had assured police protection to theatres following a representation made by multiplex owners.

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News Network
January 28,2023

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Index provider MSCI said on Saturday, January 28, it is seeking feedback on Adani Group and associated securities and is aware of a report issued by short-seller Hindenburg Research.

The US short-seller said on Wednesday it held short positions in the Indian conglomerate, accusing it of improper use of offshore tax havens and flagging concerns about high debt, leading to a massive sell-off of India-listed shares of the conglomerate's companies.

"MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes," it said in a statement. 

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