Tags: Scout Gaming Group 18th November 2020 | By Robin Harrison After depreciation, amortisation and impairment charges of SEK1.7m, the business’ operating loss also widened, to SEK13.3m. For the three months to 30 September it generated SEK15.0m (£1.3m/€1.5m/$1.7m), with growth from existing clients supported by new sign-ups. During the quarter, Scout expanded its agreement with Kaizen Gaming, operator of the Stoiximan and Betano brands, as well as a deal with Eastern Europe-facing operator Parimatch, as well as a distribution deal with BtoBet. “Furthermore, we are planning a number of major seasonal tournaments with larger prize sums. We are also gradually increasing the prize pools in general,” Ternstrom added. “We continue to see strong prospects for the European market for sports in general and for fantasy sports in particular, we make the assessment that we have opportunities to grow the business significantly in the future,” he said. Q3 results 2020 “It is particularly gratifying to announce that most of our operators reached an all- time high in revenue generated from our products during the month of September,” Scout chief executive Andreas Ternstrom said. B2B fantasy sports solutions provider Scout Gaming Group said revenue growth in the third quarter of 2020 exceeded expectations, as the business benefited from the unusually high level of sporting action during the period. After SEK128,000 in financial items, plus a SEK16,000 income tax benefit, Scout’s net loss for the period increased from SEK9.5m in Q3 2019 to SEK13.4m. Topics: Finance Sports betting Q3 results 2020 DFS Looking ahead, Ternstrom said the supplier was focused on product development, and close to launching another game in its network. It is also testing a jackpot betting product on its internal brand Fanteam, ahead of a full roll-out early in 2021. The quarter also saw Scout raise SEK75m through a new share issue, as it looks to build up funding to accelerate growth. Turning to costs, Scout reduced personnel expenses to SEK8.2m, though other external expenses jumped to SEK18.4m. Resulted in the business’ loss before interest, tax, depreciation and amortisation (EBITDA) widening to SEK11.6m, up 46.8% year-on-year. With major sports leagues concluding seasons interrupted by the novel coronavirus (Covid-19) pandemic during the quarter, this had a positive impact on the supplier’s revenue. Return of sports drives Scout growth in Q3 During the quarter, Scout invested in its prize pools to make its products more attractive to end users, including the launch of a season-long Premier League game, with a €1m prize pot, as well weekly contests with €100,000 pools. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Its partner roster has grown further early in Q4, thanks to a deal with Balkans-facing operator Meridianbet. “I’m happy to report that we are generating increasing volumes from sports and leagues outside of European football and that we maintained much of the activity on our games offered within different esports.” Regions: Europe Balkans Baltics Central and Eastern Europe Nordics Southern Europe Western Europe A Champions League contest similar to the Premier League game has also been launched, with a €250,000 prize pool. Email Address
Choppies Enterprises Limited (CHOPPI.bw) listed on the Botswana Stock Exchange under the Retail sector has released it’s 2013 abridged results.For more information about Choppies Enterprises Limited (CHOPPI.bw) reports, abridged reports, interim earnings results and earnings presentations, visit the Choppies Enterprises Limited (CHOPPI.bw) company page on AfricanFinancials.Document: Choppies Enterprises Limited (CHOPPI.bw) 2013 abridged results.Company ProfileChoppies Enterprises Limited is an investment holding company which operates in the grocery supermarket sector. The Choppie brand is associated with superstores, hyperstores and value stores; each offering the full instore range of a bakery, butchery, fresh fruit and vegetables and fast food. The company sells private label products, as well as a range of financial services. Choppies Enterprises Limited also manages a distribution and supply operation, a logistics operation and a maintenance service. Choppies retail outlets target lower to middle-income shoppers; with a total of 212 stores located in the major towns and cities in Botswana, South Africa, Zimbabwe, Zambia, Kenya, Tanzania and Mozambique. Choppies Enterprises Limited was founded in 1986 and its head office is in Gaborone, Botswana
Unga Group Limited (UNGA.ke) listed on the Nairobi Securities Exchange under the Food sector has released it’s 2018 annual report.For more information about Unga Group Limited (UNGA.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Unga Group Limited (UNGA.ke) company page on AfricanFinancials.Document: Unga Group Limited (UNGA.ke) 2018 annual report.Company ProfileUnga Group Limited is an agricultural holding company in Kenya which mills wheat and maize and processes baked products and animal nutrition and health products. The company is divided in products produced for human consumption and animal consumption. The human consumption division produces a range of wheat flour products which include chapatti, mandazi, brown bread, maize meal, porridge and amana. The animal consumption division manufactures a range of animal food and mineral supplements. Unga Limited is a subsidiary company which produces feeds, minerals, premixes, animal health products and offers technical services to the agricultural sector in Kenya. Other subsidiary companies include Unga Farm Care (EA) Limited, Ennsvalley Bakery Limited and Unga Millers (Uganda) Limited. Over 90% of products are produced for the Kenyan domestic market with some exports to Uganda, Tanzania and Rwanda. The company head office is in Nairobi, Kenya. Unga Group Limited is listed on the Nairobi Securities Exchange
Howard Lake | 12 November 2004 | News Giving Nation seeks charities to offer UK activity prizes for young people AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Awards Giving/Philanthropy Volunteering “Entering our third year, we would now like to champion those charities working closer to home, offering a number of top prizes so that more pupils will get the opportunity to get involved and see the impact of charity at work. This is why we are throwing the partnership open to all charities working in the UK.”Launched in 2002, Giving Nation exists to promote all charities to young people, whilst raising the status of charitable giving among 11-16 year olds.Proposals should be submitted by 31 December 2004. Giving Nation, the national youth initiative, is looking for UK charities to suggest experiential prizes to serve as ‘money-can’t-buy’ attractions for the winners of its 2005 awards.Giving Nation is looking for prizes such as a week reconstructing a heritage site in the countryside, or a theatre in education project visiting the winning school.Andy Thornton, Giving Nation project director, explained: “we have been delighted with the award partnerships we have established to date with Save the Children and the Red Cross. The once-in-a-lifetime experiences for a group of pupils to South Africa and India have been astounding opportunities. Advertisement 25 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.
5 recommended0 commentsShareShareTweetSharePin it Business News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Community News First Heatwave Expected Next Week Make a comment Community News Huntington Hospital Employees “Go Red” for Heart Month From STAFF REPORTS Published on Thursday, February 11, 2016 | 12:12 pm Subscribe Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Your email address will not be published. Required fields are marked * Top of the News Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Name (required) Mail (required) (not be published) Website EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS More Cool Stuff Community News Huntington Hospital, in partnership with the American Heart Association, is celebrating Heart Month in February. On Friday, February 5, hospital employees, volunteers and friends gathered in front of the hospital for Wear Red Day, uniting with millions of people across the country to help raise awareness about heart disease in women. This important message is a reminder that heart disease is the number one killer of women, more than all forms of cancer combined.About Huntington HospitalHuntington Hospital, www.huntingtonhospital.com, is a 625-bed not-for-profit hospital in Pasadena. It is named among the top hospitals in California and nationally ranked in two specialties by U.S. News and World Report. Learn more about us on Facebook at www.facebook.com/huntingtonmemorialhospital and on Twitter at @huntingtonnews. Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Herbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeautyHerbeautyCostume That Makes Actresses Beneath Practically UnrecognizableHerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeautyAmazing Sparks Of On-Screen Chemistry From The 90-sHerbeautyHerbeauty Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena
Make a comment 0 commentsShareShareTweetSharePin it faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Your email address will not be published. Required fields are marked * More Cool Stuff EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Here are the Pets of the Week available for adoption at the Pasadena Humane Society this week: Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday top box 9 Pets of the Week at the Pasadena Humane Society From STAFF REPORTS Published on Monday, June 20, 2016 | 7:58 pm Name (required) Mail (required) (not be published) Website Cuddly Uma (A397149) is a brown and white, adult, spayed female rabbit. She absolutely loves people. Easy to pick up, Uma enjoys sitting on your lap while you pet her ears. This calm bunny gets along very well with other bunnies. This lovebug can’t wait to meet you!The adoption fee for rabbits is $30, which includes the spay or neuter surgery and microchip.New adopters will receive a complimentary health-and-wellness exam from VCA Animal Hospitals, as well as a goody bag filled with information about how to care for your pet.Call the Pasadena Humane Society & SPCA at (626) 792-7151 to ask about A397149, or visit at 361 S. Raymond Ave. in Pasadena. Adoption hours are 11 a.m. to 4 p.m. Sunday; 9 a.m. to 5 p.m. Tuesday through Friday; and 9 a.m. to 4 p.m. Saturday.Pets may not be available for adoption and cannot be held for potential adopters by phone calls or email. Directions and photos of all pets can be found at pasadenahumane.org. HerbeautyThis Trend Looks Kind Of Cool!HerbeautyHerbeautyHerbeauty10 Of The Most Notorious Female Spies In HistoryHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeautyHerbeauty7 Reasons Why The Lost Kilos Are Regained AgainHerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeautyNutritional Strategies To Ease AnxietyHerbeautyHerbeauty Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Wally (A392340) is a 7-month-old, neutered male, black and white longhair cat. This beautiful kitty is ready for the prom with his tuxedo fur pattern! Wally is very shy, although after he warms up to you he will head bump and rub against you. Loud noises scare Wally, so he’s looking for a quiet home to live in with an owner who will help him build his confidence. Wally does well with other cats.The adoption fee for cats is $70 (or two for $85), which includes the spay or neuter surgery, microchip, and vaccinations.New adopters will receive a complimentary health-and-wellness exam from VCA Animal Hospitals, as well as a goody bag filled with information about how to care for your pet.Call the Pasadena Humane Society & SPCA at (626) 792-7151 to ask about A392340, or visit at 361 S. Raymond Ave. in Pasadena. Adoption hours are 11 a.m. to 4 p.m. Sunday; 9 a.m. to 5 p.m. Tuesday through Friday; and 9 a.m. to 4 p.m. Saturday.Pets may not be available for adoption and cannot be held for potential adopters by phone calls or email. Directions and photos of all pets can be found at pasadenahumane.org. Subscribe Community News Top of the News Business News Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Community News First Heatwave Expected Next Week
Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles in Daily Dose, Featured, Journal, News Previous: Housing Survey Shows Purchase Pessimism at All-Time High Next: Millennial Purchases Pick Up in March The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Week Ahead: SFR Market Takes Center Stage Demand Propels Home Prices Upward 2 days ago About Author: Eric C. Peck Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Subscribe Tagged with: Aden Kadri ADU Gold Alex Offutt AssetVal Brandon O’Briant Brian Flaherty Chad Mosley Constructive Loans Damon Riehl Daniel Kattan Eden Vick Jeff Cline Jeffrey Tesch John Tedesco Jon Ortner Jorge Newbery Josh Craig LoanBidz.com Marc Heenan MCS Mike Tamulevich Picket Homes PlanOmatic preREO Property Masters RCN Capital Seth Phillips Single Family Rental Single-Family Rental Summit 2021 Todd Brown Trey Cummings Victor Cianci Zach Bassett Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago On Wednesday, May 12, the Five Star Institute presents its Single-Family Rental Summit 2021, an in-person event being held at the Four Seasons Resort and Club Dallas at Las Colinas.As the single-family rental market continues to redefine its borders, the sky is the limit for the industry. Due to its scale, the investment landscape offers opportunities that can often be misunderstood, and navigating this dynamic terrain takes careful planning, and strategic partnerships.SFRS 2021 will bring together top subject matter experts, and skilled SFR practitioners who will lead discussion panels and training sessions designed to answer questions and offer viable solutions related to property acquisition and management; financing; strategies for small, midcap, and large investors; and new developments related to technology and professional services.The day begins at 8:00 a.m. CST with a breakfast, and the day will be full of a number of panel discussions and networking opportunities. Panel discussions will include:Inside the Strategy Room: Investing in single-family rentals opens the door to opportunity during a time when other markets have slowed. Experienced SFR leaders will share their expertise on lending products, financing arrangements, building your portfolio, and market data.Know When to Hold ‘Em: A session dedicated to honing property acquisition, disposition strategies, and the understanding of the cost-benefit analysis behind buying properties to fix and sell versus flip and hold.Keeping the House in Order: This session will explore property management strategies from a panel that will provide proven approaches for making the most of your investments, through managing expenditures, and picking the best local and national partners.Measuring Up: How can investors work to ensure they have the right information right from the start? In this panel, experts will discuss the valuation landscape, and how positive investments are made with all the correct and up-to-date info.Tech Leaps: From top property aggregation platforms, technology that makes remote property management possible, new valuation tools, and more—this session will catch you up on all the new ways technology is transforming the SFR market.Open Forum: The day’s moderators become the panelists in this final session of the day to answer the questions you’ve asked throughout the event.Click here for the full day’s agenda.Speakers scheduled for the event include:Jeffrey Tesch, CEO, RCN Capital (Event Moderator)Zach Bassett, VP, Field Operations, Property MastersTodd Brown, VP Broker and Market Leader, Renters WarehouseVictor Cianci, Director of Strategic Relationships, PlanOmaticJeff Cline, Executive Director & Principal, SVN | SFRhub AdvisorsJosh Craig, CRO, Lima One CapitalTrey Cummings, CEO and Managing Member, CS Equities and Omega Realty GroupBrian Flaherty, COO, Global Strategic Business Process SolutionsMarc Heenan, Head of Commercial Origination & Asset Management, PeerStreetAden Kadri, Enterprise Sales Consultant, Propertyware, a RealPage CompanyDaniel Kattan, Founder and CEO, Sell2RentChad Mosley, President, MCSJorge Newbery, CEO, preREOBrandon O’Briant, EVP, AssetValAlex Offutt, Managing Director, Constructive LoansJon Ortner, VP of Business Development for Inertia Decision Science, Picket HomesSeth Phillips, Founder, ADU GoldDamon Riehl, Founder and CEO, LoanBidz.comMike Tamulevich, President of National Brokerage, Marketplace HomesJohn Tedesco, SVP of Business Development, Appraisal NationEden Vick, Field Market Specialist, Finance of America CommercialClick here for more information on the event or click here to register.Here’s what else is happening in The Week Ahead:MBA Forbearance and Call Volume Survey (Monday)Senate Committee on Banking, Housing, and Urban Affairs: Nomination of HUD Deputy Secretary Adrianne Todman (Tuesday)CoreLogic HPI Report (Tuesday)MBA Weekly Applications Survey (Wednesday)Realtor.com Weekly Housing Market Recap (Wednesday)Freddie Mac Primary Mortgage Market Survey (Thursday)U.S. Department of Labor’s Unemployment Insurance Weekly Claims Report (Thursday)Black Knight weekly forbearance data (Friday) Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: SFR Market Takes Center Stage Aden Kadri ADU Gold Alex Offutt AssetVal Brandon O’Briant Brian Flaherty Chad Mosley Constructive Loans Damon Riehl Daniel Kattan Eden Vick Jeff Cline Jeffrey Tesch John Tedesco Jon Ortner Jorge Newbery Josh Craig LoanBidz.com Marc Heenan MCS Mike Tamulevich Picket Homes PlanOmatic preREO Property Masters RCN Capital Seth Phillips Single Family Rental Single-Family Rental Summit 2021 Todd Brown Trey Cummings Victor Cianci Zach Bassett 2021-05-07 Eric C. Peck The Best Markets For Residential Property Investors 2 days ago Print This Post Sign up for DS News Daily 23 days ago 677 Views
Top StoriesJ&K Bar Association President Moves SC Against HC Order Upholding His Detention Under PSA Sanya Talwar25 Jun 2020 9:25 AMShare This – xThe Supreme Court will hear tomorrow a plea challenging the Jammu & Kashmir High Court’s order, upholding the detention of Bar Association President Mian Abdul Qayoom.A vacation bench comprising Justices Sanjay Kishan Kaul & BR Gavai shall take up the Special Leave Petition at 11.30 AM against dismissal of the habeas corpus petition which challenged the preventive detention of the…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court will hear tomorrow a plea challenging the Jammu & Kashmir High Court’s order, upholding the detention of Bar Association President Mian Abdul Qayoom.A vacation bench comprising Justices Sanjay Kishan Kaul & BR Gavai shall take up the Special Leave Petition at 11.30 AM against dismissal of the habeas corpus petition which challenged the preventive detention of the Senior Advocate and J&K High Court Bar Association President.Qayoom has been under detention since August 5, when the Central Government took measures to abrogate the special status of J&K under Article 370 of the Constitution of India.J&K’s Justice Tashi Rabstan, who decided the plea, held that there were sufficient materials to show the subjective satisfaction of the authorities with regard to the need to detain Qayoom, and added that the same was carried out following the procedure under the J&K Public Safety Act 1978.The High Court had observed that preventive detention is based on “suspicion or anticipation and not on proof”.The detention in the High Court was challenged on the ground that the order was passed by the District Magistrate without proper application of mind. It was further contended that the grounds of detention were “vague, indefinite, uncertain, and baseless as also ambiguous and lack in material particulars and essential details”. The responsibility for security of State, or maintenance of public order, or essentials services and supplies, rests on the Executive and it must, therefore, have necessary powers to order preventive detention.Stating that there was limited scope under Article 226 of the Constitution to review a detaining order, the judgment observed :”…subjective satisfaction of a detaining authority to detain a person or not, is not open to objective assessment by a Court. A Court is not a proper forum to scrutinise the merits of administrative decision to detain a person. The Court cannot substitute its own satisfaction for that of the authority concerned and decide whether its satisfaction was reasonable or proper, or whether in the circumstances of the matter, the person concerned should have been detained or not”.The challenge in Top Court is filed against this High Court order which had held that that grounds of detention are “definite, proximate and free from any ambiguity”. Even a single act is sufficient to justify preventive detention.”In such circumstances, suffice it is to say that there had been material before detaining authority to come to conclusion and hence, it cannot be said that subjective satisfaction of detaining authority was wrongly arrived at or grounds of detention are self-contradictory or vague. The role of detenu has been specifically described.”Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story
News UpdatesGold Smuggling With A Mere Illegal Profit Motive Not A ‘Terrorist Act’ Under UAPA : Kerala High Court Manu Sebastian19 Feb 2021 7:05 AMShare This – xThe Kerala High Court has held that mere act of gold smuggling, which is covered under the Customs Act, will not amount to a “terrorist act” under the Unlawful Activities Prevention Act unless the same is done with the intention to threaten the economic security of the nation.Gold smuggling with a mere illegal profit motive will fall within the aforementioned definition of terrorist act,…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Kerala High Court has held that mere act of gold smuggling, which is covered under the Customs Act, will not amount to a “terrorist act” under the Unlawful Activities Prevention Act unless the same is done with the intention to threaten the economic security of the nation.Gold smuggling with a mere illegal profit motive will fall within the aforementioned definition of terrorist act, the Court said.A division bench comprising Justices A Hariprasad and MR Anitha held so while dismissing the appeals filed by the National Investigation Agency(NIA) against an order of the Special NIA Court at Kochi granting bail to ten persons who were accused in the diplomatic channel gold smuggling case.”…we are unable to hold that smuggling of gold simplicitor will fall within Section 15(1)(a) (iiia) of UA(P) Act. In other words, gold smuggling clearly covered by the provisions of the Customs Act will not fall within the definition of terrorist act in Section 15 of UA(P) Act unless evidence is brought out to show that it is done with the intent to threaten or it is likely to threaten the economic security or monetary stability of India”, the High Court observedSection 15(I)(iiia) of UAPA mentions activities with intent to threaten or likely to threaten the economic security of the country causing “damage to, the monetary stability of India by way of production or smuggling or circulation of high quality counterfeit Indian paper currency, coin or of any other material”.Interpreting this provision, the High Court observed :”In our view, what is made an offence under Section 15(1)(a)(iiia) of UA(P) Act is causing damage to the monetary stability of India by way of production or smuggling or circulation of high quality counterfeit Indian paper currency, coin or any other material relatable to currency or coin. “Other material” can be any material connected to counterfeit Indian paper currency or counterfeit Indian coin, like machinery or implements or high quality paper or any other material which could be used for producing or circulating fake currency or coin. Illegal acts referred to in the above provision certainly will have a direct impact on the economic security of India”.”In our opinion, it does not include gold as the words employed in the Sub-clause specifically mention about production or smuggling or circulation of high quality counterfeit Indian paper currency or coin and therefore gold cannot be grouped along with paper currency or coin even though gold is a valuable substance and has a great potential to get converted into cash. Arrangement of words indicating the things mentioned in the provision does not prompt us to think that gold smuggling with a mere illegal profit motive will fall within the aforementioned definition of terrorist act. Besides, we take cognizance of the fact that there can be many other things of enormous value like precious metals and stones that could be smuggled for making an unlawful gain. We do not find any logic to include gold alone along with counterfeit Indian paper currency or coin”. In the Court’s opinion, if the legislature had an intention to include gold smuggling also as terrorist act, there was no difficulty in expressly providing a limb to Section 15 of UA(P) Act. The Court regarded this as a case of casus omissus. The legislature must have been aware of the existence of the Customs Act when it amended Section 15. Non-inclusion of the Customs Act in the Schedule to NIA Act also must be regarded as a conscious act by the legislature. Rajasthan High Court judgment distinguishedThe NIA placed reliance on a recent judgment of the Rajasthan High Court which held that the offence of gold smuggling with the intent to threaten or likely to threaten the economic security of the country covered under the definition of ‘terrorist act’ under Section 15 of the Unlawful Activities Prevention Act, 1967(UAPA). In that case, the High Court had rejected the contention that gold is not covered under “other material”.However, the High Court Division Bench noted that it was an observation made by the Rajasthan High Court while refusing to quash an FIR under Section 482 of the Code of Criminal Procedure.”It is clear from the decision that no analysis of the provision was made by the learned single Judge. Moreover, no specific reason has been stated for making the aforementioned observations. It is to be remembered that the learned single Judge was examining whether there was any sufficient reason to quash an FIR at the initial stage of the investigation. We do not find any law laid down in the above decision. We are, therefore, not persuaded by the single line observation made by the learned single Judge that “any other material” occurring in Section 15(1)(a)(iiia) of UA(P) Act is intended to cover gold smuggling also”, the Kerala High Court observed, distinguishing the Rajasthan decision.The division bench also referred to a 2018 decision of the High Court in Abdul Salam v NIA which held by 2:1 majority that the offence of fake currency circulation was not a ‘terrorist activity’ under UAPA before the 2013 amendment.The Special Court had observed that the 10 accused accused were persons who had allegedly smuggled gold for their personal benefit, and the NIA has not established any larger conspiracy to threaten the economic security of the nation.The case relates to the seizure of 30 kg of 24 carat gold worth ₹14.82 crore at Thiruvananthapuram airport on July 5 by the Customs (Preventive) Commissionerate, Kochi, which was sought to be brought through the diplomatic consignment sent to UAE consulate at the State capital.The prime accused in the case, Swapna Suresh and PR Sarith, who are accused to misusing diplomatic cargo channel to smuggle gold, are still facing NIA charges. The accused before the High Court were persons who had allegedly distributed gold from the prime accused within the state.Click here to read/download the judgment Next Story
ABC NewsBy MAX GOLEMBO, ABC News(NEW YORK) — Tropical Depression Cristobal is meandering over the Yucatan Peninsula Friday morning, but it’s expected to move back into the Gulf of Mexico overnight and strengthen back into a Tropical Storm.As it moves north, Cristobal will encounter a lot of atmospheric sheer and dry air, and because of that, it is only expected to have about 60 mph winds.By Sunday afternoon, Cristobal will approach the Louisiana coast, but because the storm will be large, its effects will be felt all the way to Florida.Due to the size of the tropical cyclone, flood watches have been issued for Florida, Mississippi and Louisiana through early next week.The biggest threat with Cristobal will be heavy rain and flooding. Some areas along the Gulf Coast, and even into Mid-Mississippi River Valley, could see between 5 to as much as 10 inches of rain. Locally, more than 10 inches of rain is possible.So far, the storm has caused 2 to 3 feet of rain to fall in Central America and Mexico, producing deadly flash floods.In other weather news around the country, widespread severe weather caused more than 300 damaging storm reports from Colorado to New Jersey.There were four reported tornadoes Thursday in Tennessee and Nebraska, but no major damage was reported.Winds in South Dakota gusted up to 95 mph, which pushed a semi-truck off the road and baseball-size hail damaged cars and shattered windows in the state.Severe weather is possible for southern Missouri, Arkansas, Tennessee, Louisiana and Mississippi Friday, where damaging winds and hail are possible.Copyright © 2020, ABC Audio. All rights reserved.