Heena Sharma Blog

The Supreme Court on Thursday partially stayed the Bombay High Court order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, accused in the multi-crore Punjab & Maharashtra Cooperative (PMC) Bank scam case , from Mumbai's Arthur Road Jail to their residence. A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the submissions of Solicitor General Tushar Mehta that the high court order to the extent of allowing their release from prison needed to be stayed. The law officer said the other aspect of the high court order such as sale of assets of the accused promoters under the supervision of high court appointed committee should be allowed to remain operative and the sole objection was with regard to their release from Arthur road jail. The top court agreed with the submissions. Read More

REUTERS - Fitch Ratings said on Friday the impact on the airline industry in Asia from the grounding of Boeing 737 Max jets has been muted so far but may worsen in the second quarter of 2019. Boeing's top-selling aircraft has been grounded worldwide since the March 10 Ethiopian Airlines disaster, which killed 157 people, and came just five months after a Lion Air crash in Indonesia that killed 189. The grounding of the model has had a limited impact on the fares and performances of airlines in most markets due to seasonally low demand in the first quarter, Fitch said in its report. It added that there is limited flexibility for airlines to switch to alternatives from Airbus or Boeing. The Indian aviation market, however, has seen a sharp rise in air fares in the recent months due to tight supply, partly worsened by the suspension of the 737 MAX, Fitch said. A preliminary report in the Ethiopian crash on Thursday showed that the doomed 737 MAX jet hit excessive speed

The Supreme Court on Wednesday held Reliance Communication chairman Anil Ambani and two directors guilty of contempt of court on three contempt applications filed by Telecom equipment maker Ericsson against him over not clearing dues of Rs 550 crore. The apex court has asked RCom to pay Rs 453 crore to Ericsson within four weeks, failing which, Anil Ambani, Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani would face a three-month jail term. The court also imposed a fine of Rs 1 crore each on them, which has to be deposited within a month. If they fail to furnish the amount, the three will be awarded a month's jail-term. A bench comprising of Justices RF Nariman and Vineet Saran said if the contemnor failed to make the payments within the specified period, they will undergo a jail term of three months. It directed that Rs 118 crore already deposited by Reliance Group in the apex court's registry be disbursed to Ericsson. &quo

Finding ways to hide information in text, unveiling state-sponsored trolls, a plane with no moving parts, wood as strong as titanium and even efforts to go beyond the corporeal to life beyond death... there was seemingly no end to tech innovations in 2018 . It was a year that saw technology take a quantum leap to touch virtually every aspect of our lives, and even beyond it maybe, from terrestrial to the skies above. In a first, a plane with no moving parts -- no turbines, propellers or even fans -- took flight in November. Developed by researchers at US' Massachusetts Institute of Technology (MIT), the small prototype was powered by "ionic wind" -- the flow of ions produced by the plane that generates enough thrust to push it through the air for a sustained, steady flight. This is the first-ever sustained flight of a plane with no moving parts in the propulsion system," Steven Barrett, associate professor at MIT, said in a statement. Anothe

About 100 million users of Quora were affected by unauthorized access to one of its systems by a "malicious third party," the knowledge-sharing website said on Monday. Account information, including name, email address, encrypted password and data imported from linked networks when authorized by users may have been compromised, it said. The company said it is logging out all Quora users who may have been affected to prevent further damage. "We are in the process of notifying users whose data has been compromised," Quora CEO Adam D'Angelo said in a blog post. The breach, discovered on Friday, did not affect question and answers that are written anonymously, the company said, adding that it has also notified law enforcement officials. "We have retained a leading digital forensics and security firm to assist us," it said. Read More Business Standard

Tesla Inc said board member Robyn Denholm will replace Elon Musk as its chair, more than a month after the billionaire had to step down as the electric-car maker's chairman as part of a settlement with U.S. regulators. Tesla had until Nov. 13 to name an independent board chairman under the settlement with the U.S. Securities and Exchange Commission, which said Musk's tweets about taking the company private were fraudulent and that the billionaire could retain his role as CEO but should quit as chairman. Musk said in August he was considering taking Tesla private in a $420 a share and that he had secured funding for a deal that was later scuttled but attracted scrutiny from several government agencies. The appointment of Denholm caps months of turbulence for the company and its stock and investors called for stronger oversight of Musk, whose recent erratic public behavior raised concerns about his ability to steer the company through a rocky phase of growth.