DAILY GK UPDATE 6TH FEB.

1.    SEBI free to seize properties of Sahara Group companies: SC

i. In fresh trouble to Sahara group, the Supreme Court on Wednesday said that SEBI is free to freeze accounts and seize properties of its two companies for defying court orders by not refunding Rs 24,000 crore to investors.

ii. The apex court also pulled up SEBI for not taking action against the companies-Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC) as per its August 31, 2012 order which had asked it to attach properties and freeze bank accounts of the companies.

iii. It issued notice to the group to respond within four weeks why contempt action should not be initiated against the companies for not complying with its order.

iv. The market regulator submitted that it is taking action and issued notice to the companies and approached civil court in Bombay for freezing bank accounts.

v. The group might have to fork out around Rs 38,000 crore as of now which includes the principal amount of Rs 24,029.73 crore and interest of around Rs 14,000 crore

NOTE:  The apex court had on August 31 last year directed the two companies to refund around Rs 24,000 crore to their investors within three months with 15 per cent interest per annum for raising the amount from its investors in violation of rules and regulations.

ii. A bench headed by Chief Justice Altamas Kabir had ordered the Group to immediately hand over a demand draft of Rs 5,120 crore to SEBI and said the balance amount shall be deposited with the market regulator in two instalments to be cleared by early February.

2.    Sonia launches national child health screening prog

i. UPA chairperson Sonia Gandhi on Wednesday launched the Child Health Screening and Early Intervention Services programme, aimed at providing comprehensive care to children in the country.

ii. Gandhi launched the ambitious programme, expected to cover around 27 crore children below 18 years in a phased manner, at this tribal Palghar tehsil in Thane district.

NOTE:i. The programme is an initiative of the National Rural Health Mission of the Ministry of Health and Family Welfare, Government of India.

ii. The objective is to improve the overall quality of life of children through early detection of birth defects, diseases, deficiencies, development delays, including disability.

3.    Bharat Nirman PIC begins in Patiala

i. In Punjab, the three-day Bharat Nirman Public Information Campaign has started in village Devigarh in Patiala district, today. ii. This is the 24th such campaign being organized in Punjab.

iii.  Press Information Bureau, Jalandhar, which is organizing this campaign in coordination with other media units of the Union Ministry of Information and Broadcasting, various Centre run schemes meant for the general public would be publicized for the awareness of the masses.

4.    MP, the first State to fully utilize tourism plans  funds

i. Madhya Pradesh has become the first State in the country to fully utilize plan funds released by the Ministry of Tourism under 11th plan for the development of tourism infrastructure at various tourist sites in the State. 

ii. Union Tourism Minister Mr Chiranjeevi complimented the State government for this effort during the meeting which was held in New Delhi to prioritize projects pertaining to the development of tourism for the year 2013-14. 

iii. The government has now come up with plans to develop more destinations in its state with potential to attract tourists.

5.    Kotak Mahindra Bank acquires Barclays’ loans portfolio

i. Kotak Mahindra Bank has acquired the business loans portfolio of the Indian arm of Barclays Bank, stretching its reach to around 6,000 business loan customers with a total loan outstanding of nearly Rs 700 crore.

ii. With the acquisition of loans portfolio, Kotak will also gain the opportunity to cross-sell the customers' products at both business and personal level.

iii. According to the bank's statement, the loans are classified as "standard loans" as per the Reserve Bank of India's current guidelines.

NOTE: Around two years ago, Barclays had said that it would stop lending to retail clients and shift its focus to multinationals and large corporates, wealth management and investment banking operations in India.

6.    Irani Cup kicks off in Mumbai

i. Rest of India got a solid start in the Irani Cup against Mumbai at the Wankhede Stadium in Mumbai on Wednesday.

NOTE: Mumbai have won the Irani Cup on 14 occasions but the last time the 40 time Ranji Champions won the cup is way back in 1997. Mumbai would look to end the 15 year wait while Rest Of India on the other hand have won the Irani Cup 26 times.

7.    Mujtaba named captain for Azlan Shah Hockey

i. Experienced forward Danish Mujtaba was named captain of the Indian hockey team for the 22nd Sultan Azlan Shah Invitational Tournament starts from 6th to 17th March event in Malaysia on Wednesday.

ii. At the Azlan Shah, goalkeeper PR Sreejesh will be the vice-Captain of the squad which has eight forwards, five mid-fielders and three defenders.

8.    Madurai to host All India Railway Bodybuilding Championship

i. The 27th All India Railway Bodybuilding championship will be held at Madurai from tomorrow.

ii. Madurai Divisional Railway Manager AK Rastogi will be inaugurating the two day championship. 

iii. International level bodybuilders like Bobby Singh, Suhash Kamkar, Peter Joseph, Jayaparakash, Senthilkumar will be participating. It will be held in ten weight categories including 55 Kg, 60 Kg and 100 Kg. 

9.    India out of Women’s World Cup

i. India have been eliminated from the ICC Women's World Cup. Chasing a target of 283 to win against Sri Lanka, the Indian team were bundled out for 144 in 42 overs in a group A match in Mumbai yesterday.

ii. In another Group A match, England advanced to the super sixes after beating the West Indies by six wickets in Mumbai.

iii. In the two group B matches played in Cuttack, Australia beat New Zealand by seven wickets and South Africa defeated Pakistan by 126 runs.