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Current Affairs 14th November 2018

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Newly formed members of IL&FS board gives new roadmap to NCLAT

The newly-formed board of Infrastructure Leasing and Financial Services (IL&FS) informed the National Company Law Appellate Tribunal (NCLAT) that it has drawn up a new roadmap to address concerns of lenders. The NCLAT was hearing a bunch of petitions seeking initiation of insolvency proceedings against IL&FS. Senior advocate Ramji Srinivasan, appearing for IL&FS, informed the two-member bench that the draft proposal has already been submitted before the Mumbai bench of the National Company Law Tribunal (NCLT) and sought its permission to place before it.

Odisha government signed MoU with AIFF

Odisha government signed a Memorandum of Understanding (MoU) with the All India Football Federation (AIFF) at the Kalinga Stadium complex, Bhubaneswar, Odisha in the presence of Chief Minister Naveen Patnaik. As per the agreement, the State government will host National team camps and also I-League side Indian Arrows. The training and connected infrastructure like gymnasiums, swimming pool, etc, will be housed at the Kalinga Stadium Complex.

Dasari announced his resignation as the CEO & MD of Ashok Leyland

Vinod K.Dasari announced his resignation as the CEO and MD of Ashok Leyland. The decision was formally announced and it will be released to the second quarter numbers of the company. The resignation would take effect on March 31, 2019. Mr.Dasari said that he is to pursue other interests and continue his learning journey. He worked for almost 14 years with the company. Beginning April 6, 2005, Mr.Dasari served as the head of the manufacturing, strategic sourcing, and corporate quality engineering divisions of Ashok Leyland. He has been a whole-time director of the company since May 8, 2008. He was appointed MD on April 1, 2011, and promoted as the Chief Executive Officer (CEO) on April 1, 2016.

In MIO 2018 investors committed Rs.4.2 lakh crore to Odisha

The second edition of ‘Make in Odisha Conclave 2018 (MIO 2018)’ was held in Bhubaneswar. Odisha Chief Minister Naveen Patnaik said that it received overall investment intent of Rs.4,19,574 crore across 15 diversified sectors. The various sectors includes chemicals and fertilizers, petrochemicals, food processing, healthcare, tourism, renewable energy, and electronics. A total of 183 investment proposals were received. The highest amount of investment is proposed by Haldia Petrochemicals worth Rs. 70,000 crore. The first edition of the conclave which was held in 2016 generated investment intent worth Rs.2,03,000 crore.

InvaGen Pharmaceuticals Inc. to acquire Avenue for USD 215 mn

InvaGen Pharmaceuticals Inc., a subsidiary of Cipla Ltd., said it is to enter into agreements for the proposed acquisition of Avenue Therapeutics Inc. The acquisition is for a total consideration of $215 million. Avenue Therapeutics is focussed on the development and commercialization of Intravenous (IV) Tramadol. The novel intravenous drug delivery method of Tramadol addresses extremely crucial and hitherto unmet needs in pain management. Lucy Lu, president, and CEO, Avenue, said that the partnership with InvaGen would lead to an acceleration of Phase 3 clinical development and potential commercialization of IV Tramadol in the US.

India celebrates the 130th birth anniversary of Pt Nehru

The nation celebrates the 130th birth anniversary of Pt Jawaharlal Nehru, the first prime minister of independent India. Prime Minister Narendra Modi paid tributes to the leader and remembered his contribution in India’s freedom struggle. Pt Nehru was born on November 14, 1889. He was known for his love for children and was fondly called Chacha Nehru. Before 1964, Children’s day was celebrated in India on November 20. It was observed as the Universal Children’s Day by the United Nations. But after Nehru’s death in 1964, the nation decided to celebrate his birthday as Bal Diwas (Children’s Day) to honor his memory. Pt Nehru once said: “The children of today will make the India of tomorrow. The way we bring them up will determine the future of the country”.

U.K. and the European Union agree on Brexit agreement draft

The British Cabinet is set to have an important meeting as the U.K. and EU negotiators agreed on the text of a draft withdrawal agreement in Brussels. The Cabinet meeting is due to take place to decide the next steps, following discussions in Brussels. The development will put the spotlight firmly on the internal battles within the U.K. government over the terms under which Britain will leave the EU.

Google to Implement a Transparency Policy For Buying Political Adverts Ahead of Indian Elections

The company put in place a global framework and will also establish tools to stop the spread of fake news related to elections. Google brought its newly expanded Safety Centre to India. The Safety Centre, as its name suggests, is designed as a one-stop place from where you can access all the relevant resources to enhance their privacy and safety across all Google products and services.

Centre extended ban on 8 Meitei extremist for five years

The Centre extended the ban on eight Meitei extremist organizations for five years as they continued involvement in unlawful and violent activities. The extremist organizations were advocating secession of Manipur from India, employing and engaging in armed means to achieve their goal besides attacking security forces, police and government employees. The 8 banned organizations under the Unlawful Activities (Prevention) Act: ♦ Peoples’ Liberation Army, ♦ Revolutionary Peoples’ Front ♦ United National Liberation Front ♦ The Manipur Peoples’ Army ♦ Peoples’ Revolutionary Party of Kangleipak and its armed wing Red Army ♦ Kangleipak Communist Party and its armed wing Kanglei Yaol Kanba Lup ♦ The Coordination Committee ♦ Alliance for Socialist Unity Kangleipak

World Antibiotic Awareness Week is observed from Nov 12 to Nov 18

The main aim is to increase global awareness of antibiotic resistance and to encourage best practices among the general public. For 2018, the World Health Organization developed a range of materials for WAAW in all UN languages to help countries reflect their unique priorities. It would consist of a multi-day messaging campaign focusing on 5 “focus” days of tailored social media messaging around each of the Objectives. According to this, Ministries of Health will participate in WAAW 2018 by marking all or just some of these “focus” days by speaking up on social media.

MoS Ayush laid foundation stone for All India Institute of Ayurveda, Yoga and Naturopathy in Goa

Union minister of state for Ayush Shripad Naik laid the foundation stone for the All India Institute of Ayurveda, Yoga, and Naturopathy at Dhargal, North Goa. The institute will house a 100-bed hospital, outpatient department, and a research center; and offer postgraduate and Ph.D. courses.

UP cabinet approved the name chage of Faizabad to Ayodhya

The Uttar Pradesh Cabinet chaired by Chief Minister Yogi Adityanath approved the proposal to change the name of Faizabad district to Ayodhya and the Allahabad division as Prayagraj. The approval comes after the announcement made by the Chief Minister Yogi Adityanath on the eve of Diwali.

HRD Ministry launches Leadership for Academicians Programme

Minister of State for Human Resource Development Satya Pal Singh launched the Leadership for Academicians Programme, LEAP and Annual Refresher Programme In Teaching, ARPIT in New Delhi. ARPIT is a unique initiative of online professional development of 15 lakh higher education faculty. For implementing ARPIT, 75 discipline-specific institutions have been identified and notified as National Resource Centres in the first phase.

Thirty Eight India International Trade Fair to begin at Pragati Maidan

The 14-day annual event will continue till 27th of this month. The theme of the fair is Rural Enterprises in India. Afghanistan is the Partner Country, while Nepal will be the Focus Country. Jharkhand is participating as a Partner State in the event. Around 800 participants from States and government departments, domestic and international companies are taking part to showcase their product. With a view to providing a hassle-free visit of the fair, 50 percent of the tickets will be sold in advance, while rest of the tickets can be purchased by the visitors on the same day from 66 metro stations.

Dr Debabhuson Borah Gets Munin Barkotoki Literary Award

Munin Barkotoki Literary Award 2018 in Assam has been given to young writer-critic Dr Debabhuson Borah for his book on literary criticism titled ‘Nirbochon’. The Munin Barkotoki Memorial Trust announced the annual Award instituted to encourage young and promising writers in Assamese.

Lewis Hamilton Won Brazilian Grand Prix

Lewis defeated Red Bull’s Max Verstappen in a collision with backmarker Esteban Ocon (Force India). The incident dropped the Dutchman back to second place and although he came back at Hamilton, he could not quite catch him.

Seventh RCEP Inter-Sessional Ministerial Meeting Concludes in Singapore

The Minister for Trade and Industry of Singapore Mr. Chan Chun Sing was the Chair of the meeting as Singapore is currently the Chair of ASEAN this year. The Regional Comprehensive Economic Partnership (RCEP) is a mega regional free trade agreement being negotiated amongst 16 countries, comprising 10 ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) plus six ASEAN FTA partners, namely Australia, China, India, Japan, Korea and New Zealand. The Ministers acknowledged the good progress made in the negotiations so far with successful conclusion of 5 chapters this year alone, taking the total to 7 chapters, namely (i) Economic and Technical Cooperation (ii) Small and Medium Enterprises (iii) Customs Procedures and Trade Facilitation (iv) Government Procurement (v) Institutional Provisions (vi) Standards, Technical Regulations and Conformity Assessment Procedures (STRACAP); and (vii) Sanitary and Phytosanitary (SPS).

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