SINCE 1928 MUGURUZA THRASHES SHARAPOVA TO ENTER FRENCH OPEN SEMIS Pg 22 MENDING FENCES ALL AROUND REG. NO. MCS/048/2018-20; RNI NO. 1541/1957 M.P.C.S office Mumbai-400001 Fast News ORDINANCE FOR HOME BUYERS NEW DELHI: Giving significant relief to home buyers, President Ram Nath Kovind on Wednesday gave assent to the Ordinance making amendments to the Insolvency and Bankruptcy Code, which will recognise their status as financial creditors. Being treated as financial creditors would bring home buyers at par with banks and other institutional creditors as they would now have a share in the proceeds earned by sale of assets of bankrupt real estate companies. It also removes the disqualification of the promoter from bidding for his enterprise undergoing insolvency, provided he is not a wilful defaulter and does not attract other disqualifications not related to default. It also empowers the Central Government to allow further exemptions or modifications with respect to the MSME Sector, if required, in public interest. SUGAR INDUSTRY BAILOUT OKAYED NEW DELHI: The Cabinet on Wednesday approved Rs 8,500 crore bailout package for the sugar industry which includes a Rs 4,500 crore soft loan for building ethanol production capacity and creating a 3 million tonne stockpile to soak up excess supply. The Cabinet also approved a Rs 1,300 crore interest subversion on the loan to be provided for creating new ethanol production capacity as also expanding the existing one, sources said. THREAT TO BLOW UP STNS, SHRINE LUCKNOW: The police in UP has issued a state-wide alert after the LeT threatened to blow up several stations as well as the Krishna Janmabhoomi and the Kashi Vishwanath temples. The threat was contained in a letter sent by a commander of the group to the Northern Railways last month. It was purportedly sent by Lashkar-eTaiba area commander Maulana Ambu Shaikh. Among other things, it threatened to blow up the Saharanpur and Hapur railway stations. SC GO-AHEAD TO RAJINI’S ‘KAALA’ NEW DELHI: The Rajinikanthstarrer 'Kaala' would hit the screens on Thursday. The Supreme Court on Wednesday refused to entertain a plea by KS Rajashekaran, a film producer, who has claimed that the story of the film and the songs and the scenes of the movie were his work. The petitioner had alleged that he had duly applied for registration of copyright for the story of movie 'Karikalan' way back in 1992 and the script of the film was read out to Rajinikanth's brother. TAILPIECE Modi, Teri Ganga Maili FROM OUR BUREAU New Delhi Union Tourism Minister K J Alphons has put a question mark on Prime Minister Modi's promise to turn his Lok Sabha constituency Varanasi into Kyoto, a temple town of Japan, saying the city is so dirty and traffic so chaotic that tourists avoid visiting the city. Alphons, a retired IAS officer who is often in news because of his loud mouth, made the remarks during his 2-day visit to Varanasi. He could not resist lamenting what use are the three sewage plants installed for cleaning the Ganga, when the river continues to be as dirty. He said the people are polluting the river in the holy city by throwing garlands and pouring milk. Congress leader Digvijaya Singh pounced on Alphons' comments to taunt the PM that even after four years Varanasi continues to be as bad as in 2014. `2 The Shiv Sena is determined to make the BJP pay for its sins of omission and commission. No wonder when Amit Shah arrived at ‘Matoshree’ to keep his ‘appointment’ with Uddhav Thackeray Sena was in no , mood to ‘play along.’ Rather, Uddhav Thackeray made chief minister Devendra Fadnavis ‘sit out’ while he was meeting Shah. Television channel sources said while the meeting took place on the second floor, Fadnavis was twiddling his thumbs on the ground floor of the house. seems Sena leadIt ers wanted to send out a blunt message that the ‘appointment’ was for the BJP president only State BJP President . Raosaheb Patil-Danve also kept away in deference to the Shiv Sena's wishes. Sources point out that Fadnavis too had stopped showing such courtesies to the Sena some time back. In March this year, Fadnavis had refused to entertain him after making him wait for over two hours. Setting the tone for the meeting with Shah, a scathing editorial in "Saamna" on Wednesday morning had questioned the BJP's outreach programme after suffering the rout in by-polls. The editorial was also insis- Higher EMIs will trip household budgets further ONLINE REPORT Mumbai There is no respite for the fixed income group: thanks to the spurt in both repo and reverse repo rates, all types of personal loans – including home, car and education borrowings – are set to cost more. Repo rate is the rate at which the RBI lends money to banks. A higher repo rate makes borrowing expensive for banks, which in turn means that commercial banks are likely to pass on the burden to the consumer by charging a higher rate of interest. The six-member monetary policy committee of the RBI on Wednesday unanimously decided to increase the repo rate by 25 basis points to 6.25%, as inflation outlook worsens due to a rise in crude oil prices. This is the first rate hike by the central bank in almost four and a half years. Almost in anticipation, most banks and housing finance companies had recently hiked their marginal cost of funds-based lending rates (MCLR) – ahead of the RBI policy These institu. tions included the SBI, HDFC, ICICI Bank, PNB, Bank of Baroda, UBI, and Kotak Mahindra Bank. They had raised their MCLR ranging from 5 basis points to 20 basis points. Just EDIT Pg 10 tent that the Sena will fight all the upcoming elections alone. ‘‘The prime minister is touring the world and BJP chief Amit Shah is going around the country as part of their 'sampark' programme. Shah will be meeting NDA allies. However, what exactly will he do? Why is the meeting at this juncture, when the BJP has suffered defeat in bypolls," the Sena had demanded in the article. It is understood that in the meeting Uddhav asked Shah why the BJP was now so keen to fight the elections with the Sena, especially after treating it shabbily in the last four years. Thackeray also raised the agrarian crisis and the Bullet train project with the BJP president. Shah also visited the landmark Siddhi Vinayak Temple in Prabhadevi and called on Mumbai BJP President Ashish Shelar before proceeding to the Thackeray house. The Congress is watching the events with keen interest. It feels the Sena is out to extract a better deal for itself in the general election. "The meeting between the two leaders is aimed at cutting a political deal, nothing else. The Shiv Sena is not going to snap ties with the BJP," Maharashtra Congress chief and former chief minister Ashok Chavan prophesied. See Edit Page a couple of months earlier also, some banks had raised their MCLR. The rise in MCLR hike will now translate into actual hike in the lending rates. Therefore, both the existing as well as the potential borrowers of home and other loans should be prepared to shell out more in case that happens. The maximum impact of these hikes will be on home loan borrowers as these are taken for a longer period. So, take the case a Mumbaikar who is looking for a home loan of Rs 50 lakh to buy a flat worth Rs 60 lakh. If he takes a housing loan of Rs 50 lakh at 8.50% interest, he would have to pay an EMI of Rs 43,391. Over 20 years, he would be paying Rs 5413,878 as interest. CONTD. ON P6 STUNTS SHOULD LOOK GENUINE AND NOT MAKE PEOPLE LAUGH: SALMAN Pg 18 Ajeeb daastan hai ye, Lata’s rebuff to Shah STAFF REPORTER Mumbai Even before BJP president Amit Shah descended on Mumbai, there was this buzz about his outreach programme, as a part of which he was meeting Bollywood celebrities – Lata and Madhuri Dixit Nene -- and industrialist Ratan Tata. So, Shah was least prepared when the Nightingale of India, Lata Mangeshkar, excused herself, as she is down with ‘food poisoning’. While most took her innocuous statement at face value, sceptics saw in it a strong Marathi snub. Of course, Lata was nice enough to assure Shah that she would make herself available next time he wishes to meet her in Mumbai. At 4.10 pm, the Nightingale tweeted, “Aaj BJP ki adhyaksha mananeey @AmitShah ji se meri mulaqaat honewali thi parantu mujhe food poisoning hone ki wajah se maine unse telephone pe baat karke milne mein asamarthta vyakt ki aur agli baar jab bhi wo Mumbai aayenge tab unse milne ka nivedan kiya.” (Honourable BJP President Amit Shah was to meet me; however, I informed him on the telephone that since I was down with food poisoning I would be unable to meet him. CONTD. ON P6 THOUGHT FOR THE DAY What is impossible for an ordinary person is possible with the blessings of God, the Guru and the higher beings. Master Choa Kok Sui Multi-city arrests of Dalit activists, dubbed ‘Maoists’ FPJ NEWS SERVICE Mumbai/Nagpur/New Delhi In a multi-city pre-dawn operation on Wednesday the , Maharashtra Police arrested Dalit activists in Mumbai, Nagpur and in Delhi and dubbed them urban Maoist sympathisers for their links to the January 1 KoregaonBhima caste riots. Under the scanner is the money trail that allegedly establishes the nexus between these sympathisers and Naxals. All those arrested have been booked under the Unlawful Activities (Prevention) Act. The arrested included prominent Dalit activist Sudhir Dhawale, lawyer Surendra Gadling, activists Mahesh Raut and Shoma Sen and Rona Wilson, a Jawaharlal Nehru University alumnus. Dhawale is the editor of a Marathi magazine, "Vidrohi". Gadling has represented prominent Maoist activists, including G.N. Saibaba, and provided legal help to the Kabir Kala Manch that organized the Elgaar Parishad. Raut is a former Prime Minister Rural Development Fellow and has alleged links with Maoist groups in Gadchiroli in Maharashtra. The arrested, according to the police, had organised the Elgaar Parishad in Pune on December 31 last year to commemorate the 200th anniversary of the historic An- Dalit activist Sudhir Dhawale glo-Marathi battle between the British forces and the Peshwa Bajirao II. The gathering was addressed, among others, by Gujarat Dalit leader and MLA Jignesh Mewani, former JNU student leader Umar Khalid, Chhattisgarh activist Soni Sori and Bhim Army President Vinay Ratan Singh. A day later on January 1, there was the outbreak of caste riots in Koregaon-Bhima which left one dead. A retaliatory Maharashtra shutdown call issued by Bharipa Bahujan Mahajan Sangh leader Prakash Ambedkar and other parties on January 3 also claimed one life. Harshali Potdar, one of the coordinators of the Elgaar Parishad, said the arrests were "illegal... a ploy to victimize us and intended to save Sambhaji Bhide Guruji and Milind Ekbote". CONTD. ON P6 Jaitley confronts Rahul with fact sheet OUR BUREAU / New Delhi Union Minister Arun Jaitley on Wednesday dissected Congress President Rahul Gandhi's speech at a farmers' rally in Mandsaur, wondering if he is being inadequately briefed or he is a little too liberal with his facts. In a blog, he responded to six points made by Rahul, dubbing each of his contentions as "factually false." 1. On his charge that PM Modi had waived loans of Rs 2.5 lakh crore of the 15 top industrialists, Jaitley asserted that "factually this is completely false as the Government has not waived a single rupee due from any industrialist." "Those who owed money to the banks and other creditors have been declared insolvent NOW, RAHUL JUMLA: ALL WITHIN TEN DAYS C ongress President Rahul Gandhi on Wednesday promised to waive farmers' loans in Madhya Pradesh – all within 10 days -- if his party comes to power. He also said if the Congress comes to power in MP, those responsible for the death of six farmers in Mandsaur district would face strict action within 10 days. He was addressing a rally held to mark first anniversary of a firing incident that claimed the lives of six farmers. The family members of three out of the six deceased farmers also shared the dais with Gandhi. (See Pg 6) and removed from their companies under the legislation enacted by PM Modi’s Government. These loans were given largely during the UPA Government," Jaitley said. 2. Again, the charge that loans are not available to kisans but only to industrialists is also false as this was during the UPA Government, particularly in UPA II, as the NDA principal, others charged in faculty scam FPJ NEWS SERVICE New Delhi The CBI has registered a case against the Principal of Pune-based National Defence Academy and four other employees of the institute on charges of irregularities in the appointments of teaching faculty . Besides Principal Omprakash Shukla, a Political Science professor, two assistant professors of Chemistry and Mathematics, a head of department of Chemistry and other unidentified persons have been named in the FIR that was lodged on Tuesday following a complaint of malpractices in the recruitment process. Shukla, one of the senior most NDA professors in the country has been principal , of the institute since 2011. The alleged corruption in appointments started way back in 2007, when he applied for the post of professor, officials believe. The NDA trains thousands of cadets for the Indian military each year. Teachers are appointed to the prestigious academy through the Union Public Service Commission. The accused principal and professors allegedly sent less than qualified candidates to the UPSC for approval.The agency believes Dr Shukla, too, lied about his own credentials while applying for a post in the NDA, exaggerating his experience of teaching and research. Daughter’s last ditch bid to dissuade Pranab THE UNTOUCHABLES Sunrise: 06:00 am Sunset: 07:11 pm Vol. 62 No. 36 | THURSDAY | JUNE 7, 2018 | 22 Pages EDITIONS : MUMBAI*, PUNE, INDORE, BHOPAL www.freepressjournal.in twitter.com/fpjindia UDDHAV MAKES CM SIT OUT AS HE MEETS SHAH FPJ NEWS SERVICE Mumbai WEATHER 330C. 260C. FPJ NEWS SERVICE New Delhi Former President Pranab Mukherjee’s daughter Sharmishta does not share his enthusiasm for attending an RSS meet in Nagpur. In a subtle message to her father, she pointed out that his speech will be forgotten in no time, but the optics will remain and used to reinforce false claims.Sharmishta, a Congress leader, said by going to Nagpur, Mukherjee has given the BJP and the RSS full handle to plant false- hoods and spread rumours. She tweeted that even the RSS wouldn't believe that Mukherjee was going to endorse their views in his speech. She fears like other Congressmen, that by doing so, he is giving a certain legitimacy to the RSS. In fact, all day there were rumours that she was joining the BJP. "Hope Citizen Mukherjee now realises how BJP’s dirty tricks department operates,’’ she said in a series of tweets. ‘‘All this is just the beginning!" she added. Earlier, Sharmistha rubbished rumours of her joining the BJP saying: "In the mountains enjoying a beautiful sunset and suddenly this news that I'm supposedly joining BJP hits like a torpedo! "Can't there be some peace and sanity in this world? I joined politics because I believe in the Congress. Would rather leave politics than leave the Congress," she said on Twitter. The RSS has invited Mukherjee to be the chief guest at the concluding function of "Tritiya Varsh Varg" or third-year course and address the Swayamsevaks' on June 7. bulk of the amount constituting the NPA was put out by the banking system during 2008-14. Since 2014, systematically steps have been taken , to recover these monies, Jait- City Radar ley pointed out. 3. Responding to the charge that PM has given Rs.35000 crores each to two diamond jewellers who have now escaped from the country the , Union Minister said: "This banking fraud started in 2011 when the UPA II was in power. It was only detected during the NDA period." 4. Rahul also charged that if the Congress comes to power, mobile phones, which are made in China, will be manufactured in India. "I have a dream," the Congress president said, "that when I come back here in ten years and look at my phone, it is labelled 'Made in Mandsaur'." This, he claimed, wouldn't be possible under governments led by Modi or Chauhan. CONTD. ON P6 MSRTC RAISES BUS FARES 18 PER CENT STAFF REPORTER / MUMBAI: Travelling in state transport buses is set to become costly from June 15 as the Maharashtra State Road Transport Corporation (MSRTC) has raised fares by 18 per cent. A senior official said the fare hike has been necessitated by the rising diesel prices.A senior official from the transport utility on Wednesday said that fares on all routes across the state have been increased and the new fare structure will be implemented from June 15.“The diesel price is at an all-time high and we are facing its adverse effects. We purchase around 14 lakh litres of diesel daily for our buses and with the rising prices, we are staring at a loss of Rs 1.50 crore each day. If things continue like this, by the end of the year, we will be looking at an additional loss of Rs 460 crore. We also have to pay employee salaries, hence the decision to increase fares. We know that passengers will not be happy with the hike in fares, but we do not have any option,” said an MSRTC official from its headquarters in Bandra, Mumbai. Fuel prices have touched a record high, with diesel costing Rs 72.48 per litre in Mumbai. BOOKIE NAMES BUILDER, NOW MUMBAI: Bookie Sonu Jalan, who was arrested in an IPL betting racket, has confessed that he was investing in projects of a builder named Amit Jalan. Thane police are now investigating if Amit Jalan was also involved in betting on IPL matches. He is likely to be summoned soon. On Tuesday, Jalan had named producer-director Sajid Khan for allegedly betting in the IPL matches. PHONE EXPLODES IN MAN’S POCKET MUMBAI: In a shocking incident, a man’s mobile phone exploded in his shirt pocket when he was having lunch at a Bhandup eatery on Monday. The incident was captured on a CCTV camera. A video of the incident has gone viral on social media. CCTV footage shows how the man, who is eating, gets up suddenly and throws his phone out of his blazing shirt pocket. He sustained minor injuries due to the explosion and was later admitted to hospital. The incident created panic among people, who fled from the restaurant.