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Major News and Events of 17 December 2014

What Happened on 17 December 2014


Ailing SpiceJet to Resume Operations by 4pm Today after being Grounded in the morning

After being grounded since morning SpiceJet COO, Sanjiv Kapoor, announced resuming of its flights from 4pm. The ailing airline’s flights were forced to be grounded today morning as the Oil companies denied supply of aviation fuel to the company. Till now just two flights operated from the morning. After this abrupt grounding of SpiceJet flights, the stock shed 5 per cent during morning hours but recovered partially in noon.

Reliance Jio Infocomm all set for 4G LTE Expansion Plan

During April-June period of 2015, Reliance Jio Infocomm is going to make one of the largest launches in the telecom sector. During this period, the company will make available 4G LTE services in eight hundred cities across India. The service can be accessed by almost all devices with the help of ‘mi-fi devices’ and 4G Dongles. 30,000 towers have been built by the company to make this venture a success.

Dip in Russian Currency Raises Concern for Pharmaceuticals Industry

Rouble’s, Russian currency, value depreciated by 50 per cent in the last 6 months that made the central bank of Russia hike interest rate by 17 per cent. However, this has adversely affected business prospects of some Indian pharmaceutical behemoths such as Dr Reddy’s Laboratories and JB Chemicals. As 15 per cent of the total sales of Dr Reddy’s Laboratories takes place in Russia, fall in value of Rouble led to sharp fall in Dr. Reddy’s stocks, by 6.32 per cent.

Deloitte India report shows India Inc.'s effort to Stop Fraudulent Activities Inadequate

Deloitte India report shows that Indian companies are not taking enough precautions for tackling fraud. In fact, India Inc. is not complying with the provisions, put by the new company law for tacking with fraudulent activities. 56 per cent of the sample of the Deloitte India survey responded by saying they expect a rise in fraudulent activities in the coming two years.

NaMo asks his MPs to Restrain themselves during Public Speeches

Prime Minister of India Narendra Modi and his government has been facing wrath of the united opposition due to unwanted words spoken during public speeches by many BJP MPs of the NDA government including Sadhvi Niranjan Jyoti and Sakshi Maharaj. Stressing on the development agenda of the government, NaMo asked his MPs to restrain themselves from  making unwanted statements publicly. He specifically asked them to not cross the ‘Lakshman Rekha’ (forbidden line).   

'Looter' Salvo of Jharkhand: After Modi's Looter Jibe, it's now turn of JMM to return the Salvo

A day after Indian PM Narendra Modi asked voters of Jharkhand to throw out ‘looters’ of the state from power, current CM of the state Hemant Soren returned the salvo by calling Bharatiya Janata Party a party of looters. Son of JMM patriarch ‘Guruji’ Shibu Soren repeatedly accused BJP of having eye on exploiting rich mineral resources of the state.

Rajya Sabha Uproar on Religious Conversion Issue

Rajya Sabha today witnessed uproar on the issue of religious conversion taking place in Uttar Pradesh. Opposition political parties in an united manner asked for discussion on the issue in the RS in presence of the Prime Minister. CPIM MP Sitaram Yechury asked for ‘ghar waapsi’ (home coming) of Narendra Modi, thereby criticising NaMo on his sparse presence in the house. It is reported that mass religious conversion is bringing brownie points for BJP in Uttar Pradesh, as they have till now garnered 4.2 million membership.

Peshawar Massacre by Taliban: India condemns Terror Attack

India condemned the heinous terror attack by Taliban in Pakistan’s Peshawar where 141 people reportedly died, among which 132 are children, yesterday. The entire political fraternity in India including President of India condemned the cowardly and barbaric act. Indian PM has reportedly called on his Pakistani counterpart and conveyed that the death of 132 children has shaken entire world’s conscience. Delhi Police has put all the schools as well as colleges on high alert after the Tuesday’s attack in Pakistan.    

Aircel-Maxis Case: Chidambaram's Statement recorded by CBI

CBI has recorded statement of P Chidambaram, on the issue of Rs 3,500 crore Aircel-Maxis deal clearance by Foreign Investment Promotion Board back in 2006, when he was the Union Finance Minister. It is alleged that Chidambaram exceeded his foreign investment related deal sanctioning capability (limited up to Rs 600 crore) and sanctioned Rs 3,500 crore deal, which can only be sanctioned by Cabinet Committee on Economic Affairs (headed by the PM). K K Goel, prosecutor of CBI, has informed court that investigation is still going on Aircel-Maxis case.

Tip-off on Lashkar-e-Taiba Terror Attack during US President's Visit to India

Foreign intelligence agencies have warned Indian government of suspected terror attack plans of Lashkar-e-Taiba during US President Barack Obama’s visit to India, scheduled in January. Sources reveal that Indian intelligence agencies are trying to find 5 terror suspects who escaped Madhya Pradesh prison last October. One of the suspects, alleged to be member of banned SIMI, is believed to be planning to make terror attack during Obama’s visit to India for participating in India’s Republic Day celebration.

BCCI Submits List of Administrators having Conflict of Interest in IPL to Supreme Court

Board of Control for Cricket has submitted a list of players as well as administrators to the apex court of India who have conflict of interest in IPL. This list includes names of some cricketing legends including Ravi Shastri, Sourav Ganguly, Sunil Gavaskar, Venkatesh Prasad, Lalchand Rajput, and Krishnamachari Srikkanth. This list was submitted by the BCCI today after a special SC bench asked the Indian cricket board to submit a list of players as well as officials of the board who have conflict of interest in T20 Champions League and IPL.