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Business News/ Politics / Policy/  News in Numbers: SC tells Unitech’s Sanjay Chandra to deposit Rs1,000 crore for bail
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News in Numbers: SC tells Unitech’s Sanjay Chandra to deposit Rs1,000 crore for bail

In other news, Singapore to invest $21 billion on rail, bus transportation over 5 years

Rejecting Sanjay Chandra’s plea to allow him bail to raise funds to compensate aggrieved home owners, the court indicated it may consider auctioning Unitech properties. Photo: MintPremium
Rejecting Sanjay Chandra’s plea to allow him bail to raise funds to compensate aggrieved home owners, the court indicated it may consider auctioning Unitech properties. Photo: Mint

0%

What is it? The planned annual growth rate for cars and motorcycles in Singapore, beginning February 2018, according to its Land Transport Authority. At present, it is 0.25%.

Why is it important? That effectively means Singapore will stop increasing the number of cars and motorcycles on its roads. Simultaneously, it will invest $21 billion on rail and bus transportation over the next five years.

Tell me more: The motor vehicle population of Singapore has been anyway falling since 2013, including the segment of cars and station wagons, which accounts for 58% of all vehicles in the island city-state.

Rs1,000 crore

What is it? The amount the Supreme Court asked Unitech managing director Sanjay Chandra on Monday to deposit in order to receive bail.

Why is it important? It’s unlikely that loss-making, cash-strapped Unitech can deposit this amount. Rejecting Chandra’s plea to allow him bail to raise funds to compensate aggrieved home owners, the court indicated it may consider auctioning Unitech properties.

Tell me more: According to amicus curiae Pawan Shree Agrawal, 4,688 home buyers in Unitech projects are claiming a refund of Rs1,865 crore from the company.

3

What is it? The number of managers in the 20-team English Premier League who have been sacked in the 2017-18 season, which is barely about a quarter completed.

Why is it important? It underscores the high managerial turnover in top-flight football, where patience runs thin and past successes count for little. Ronald Koeman, who led Everton to a credible seventh-place finish last season, was fired by the club on Monday.

Tell me more: The three clubs that have sacked their managers are currently at 14 (Leicester City), 18 (Everton) and 20 (Crystal Palace) in EPL standings after 9 of 38 matches.

5.8%

What is it? The increase in the share price of Bharti Airtel on Monday, the first trading day after the latest round of tariff revision by Reliance Jio, the newest player in the sector and a price warrior.

Why is it important? Market players are seeing it as a signal that profitability in the telecom sector might bottom out in the December quarter.

Tell me more: Other telecom stocks also gained: Idea traded 8.8% higher and Reliance Communications rose 9.5%.

10-15%

What is it? The likely impact of demonetisation and the goods and services tax (GST) on the wedding season, which starts November, according to a study by Assocham.

Why is it important? The industry chamber says several wedding services—marriage hall and tent booking, catering and photography, among others—were earlier using “unregistered bills" and not paying tax. Now, some among them will be paying GST.

Tell me more: A nationally representative sample study done in 2011-12 found that 14% of bride’s families had spent (or were expecting to spend) more than Rs5 lakh on wedding expenses.

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Published: 24 Oct 2017, 12:48 PM IST
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