New Delhi

Spiritual guru Bhaiyyu Maharaj commits suicide in MP

Spiritual guru Bhayyu Maharaj, who had refused to accept ministerial rank granted by the Madhya Pradesh government over two months back, allegedly committed suicide on Tuesday by shooting himself in Indore, leaving his followers as well as the political community shocked.

“Bhaiyyu Maharaj has committed suicide by shooting himself,” Indore’s Deputy Inspector General (DIG) H C Mishra said. “He shot himself at his home,” Mishra added.

A large number of his supporters gathered in front of the hospital where the 50-year-old ‘godman’ was rushed after the shooting incident.

Unitech Q4 net loss widens to `1,000 crore

Crisis-hit real estate firm Unitech on Tuesday reported a consolidated net loss of Rs 999.83 crore for the quarter ended March 31, 2018, despite earning a higher income. The Gurugram-based developer had posted a net loss of Rs 290.19 crore in the year-ago period, according to a regulatory filing.

Total income, however jumped over two fold to Rs 977.59 crore during January-March, 2017-18 from Rs 480.36 crore in the year-ago quarter.

Despite sharp rise in income, the company has posted net loss due to higher operational expenditure and an exceptional item of Rs 928 crore.

Nothing unusual about monsoon lull: IMD

The southwest monsoon, which has covered entire so­u­th peninsula and some pa­r­ts of central India, is likely to reach more areas in 48 hou­rs before entering into a lull, said a senior official of IMD.

Every year the monsoon goes into a lull and there is nothing abnormal in this, the official said.

Meanwhile, conditions are becoming favourable for further advance of monsoon into some more parts of Od­i­s­ha, remaining parts of the no­rtheastern states and so­me parts of Bengal and Si­kkim in 48 hours, said IMD.

Drive to fast track refund of exporters extended

The central board of indirect taxes and customs (CBIC) has extended the refund fortnight for fast track clearance of pending dues to exporters by two days till June 16.

The central and state tax officials have already cleared refunds worth over Rs 7,500 crore since May 31, when the special drive to clear exporters refund was launched.

“In view of overwhelming response from exporters and pending claims, the period of refund fortnight is being extended by two more days – up to June 16,” a finance ministry statement said.

May retail inflation up at 4-month high of 4.87%

Retail inflation jumped to 4-month high of 4.87 per cent in May on costlier food items such as fruits, vegetables and cereals coupled with high fuel rates.

Based on the consumer price index (CPI), the retail inflation was at 4.58 per cent in April. In May 2017, however, it was at a low of 2.18 per cent. The previous high in retail inflation was in January this year at 5.7 per cent.

RBI seeks more powers to ably regulate PSBs

Amid tough questioning by lawmakers over increasing bad loans and frauds in the banking sector, the Reserve Bank of India governor Urjit Patel on Tuesday made a strong case for more powers to effectively regulate public sector banks (PSBs).

Patanjali questions Adani Wilmar’s eligibility to bid for Ruchi Soya

In a development that could further complicate the resolution plan for debt-ridden Ruchi Soya, Ramdev-promoted Patanjali Ayurved has questioned the eligibility of rival bidder Adani Wilmar under the provisions of the Insolvency and Bankruptcy Code (IBC).

In a strongly worded letter to the committee of creditors (CoC), Patanjali has alleged serious conflict of interest with respect to the legal adviser of Adani Wilmar — Cyril Amarchand Mangaldas — and has sought details from the CoC before it goes ahead with the process to finalise successful resolution applicant for Ruchi Soya.

Delhi Golf Club removes Jaitely, Prasad, Pawar as members

The aristocratic Delhi Golf Club has removed the names of some political heavyweights, including Union ministers Arun Jaitley and Ravi Shankar Prasad, as members. Other big names who have been struck out from the register of the elite club in Lutyens’ Delhi include opposition leader Sharad Pawar, his daughter and MP Supriya Sule, BJP rebel Shatrughan Sinha and former urban development minister and Congress leader Kamal Nath.

Manpower shortage hinders IPO plans of IRCTC, RVNL

A day after railway minister Piyush Goyal said lower valuation was the reason for deferring IRCTC public offer, it now transpires that a sudden manpower shortage could be the real rationale for putting the share sale plan on hold.

Indian Railway Catering and Tourism Corporation (IRCTC) is facing shortage of officials due to repatriation of railway officials on deputation.

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Before the launch of Google Maps in 2005, search of any place in India on Google would lead a user to MapmyIndia, where not only cities, towns and villages, but one could zoom to see even a locality on the maps. Founded in 1995 by Rakesh and Rashmi Verma through their Delhi-based company CE Info Systems, MapmyIndia began producing online maps during the 2000s and it eventually migrated into consumer navigation devices, fleet-tracking solutions for taxi and trucking companies and mobile apps.