Trans-Nationwide Express Plc (TRANSE.ng) 2006 Annual Report

first_imgTrans-Nationwide Express Plc (TRANSE.ng) listed on the Nigerian Stock Exchange under the Transport sector has released it’s 2006 annual report.For more information about Trans-Nationwide Express Plc (TRANSE.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Trans-Nationwide Express Plc (TRANSE.ng) company page on AfricanFinancials.Document: Trans-Nationwide Express Plc (TRANSE.ng)  2006 annual report.Company ProfileTrans-Nationwide Express Plc is a transport and logistics company in Nigeria offering services for domestic and international express delivery, haulage, freight and other ancillary transportation and storage services. Logistic services include warehousing, e-commerce, air/sea freight and removals/packaging services. Trans-Nationwide Express Plc also offers a mailroom management service and courier services as well as specialised courier services for diagnostic biological samples and clinical trial supplies. Established in 1984 and formerly known as TNT Skypak Nigeria Limited, the company changed its name to Trans-Nationwide Express Plc in 1992. Its head office is in Lagos, Nigeria. Trans-Nationwide Express Plc is listed on the Nigerian Stock Exchangelast_img read more

Fincorp Investment Ltd (FINC.mu) HY2013 Interim Report

first_imgFincorp Investment Ltd (FINC.mu) listed on the Stock Exchange of Mauritius under the Investment sector has released it’s 2013 interim results for the half year.For more information about Fincorp Investment Ltd (FINC.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Fincorp Investment Ltd (FINC.mu) company page on AfricanFinancials.Document: Fincorp Investment Ltd (FINC.mu)  2013 interim results for the half year.Company ProfileFincorp Investment Limited operates solely as an investment company that is fully owned by the Mauritius Commercial Bank. The company offers services in funds management, property investment, and specialised services in mortgaging, property investment products and property development. Fincorp Investment Limited is listed on the Stock Exchange of Mauritius.last_img read more

Coronation Insurance Plc (WAPIC.ng) Q32020 Interim Report

first_imgCoronation Insurance Plc (WAPIC.ng) listed on the Nigerian Stock Exchange under the Insurance sector has released it’s 2020 interim results for the third quarter.For more information about Coronation Insurance Plc (WAPIC.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Coronation Insurance Plc (WAPIC.ng) company page on AfricanFinancials.Document: Coronation Insurance Plc (WAPIC.ng)  2020 interim results for the third quarter.Company ProfileCoronation Insurance Plc is an insurance company in Nigeria licensed to underwrite all classes of life and non-life insurance for the personal, groups, commercial and industrial sectors. The company has operations in Nigeria and Ghana. General and personal insurance products cover motor, life, investment, yacht, marine and home insurance. Corporate insurance products cover general property insurance, automotive, marine, aviation, all risk, fire and special perils, goods-in-transit and guarantee and liability insurance for the oil and gas, hotel and restaurant, professional firms and associations, manufacturing, education, energy, telecommunication, financial services, trading, religious bodies, contractors, travel agent, real estate and transport sectors. Public sector clients include government ministries and departments, parastatals and agencies. Wapic Insurance Plc was founded in 1958. Its company head office is in Lagos, Nigeria. Coronation Insurance Plc is listed on the Nigerian Stock Exchangelast_img read more

Londrina House / Todos Arquitetura

first_imgCopyAbout this officeTodos ArquiteturaOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesRefurbishmentResidential ArchitectureConsolaçãoOn FacebookBrazilPublished on February 15, 2020Cite: “Londrina House / Todos Arquitetura” [Residência Londrina / Todos Arquitetura] 15 Feb 2020. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodSiding Façade SystemWindowsMitrexSolar WindowMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialMetal PanelsDri-DesignMetal Panels – CopperIn architectureSikaBuilding Envelope SystemsExterior DeckingLunawoodThermowood DeckingMembranesEffisusFaçade Protection – Breather+Metal PanelsPure + FreeFormCustom Metal Cladding – Legacy Fund 1 BuildingWood Boards / HPL PanelsInvestwoodWood Fiber Partition Walls – ValchromatDoorsLinvisibileLinvisibile FILO 10 Vertical Pivot Door | BrezzaSkylightsFAKROEnergy-efficient roof window FTT ThermoToilets / BidetsBritexToilets – Accessible Centurion PanMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream “COPY” Houses Area:  1830 ft² Year Completion year of this architecture project ArchDaily “COPY” 2019 ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/933774/londrina-house-todos-arquitetura Clipboard Londrina House / Todos ArquiteturaSave this projectSaveLondrina House / Todos Arquitetura CopyHouses, Refurbishment•Consolação, Brazil Brazilcenter_img Architects: Todos Arquitetura Area Area of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/933774/londrina-house-todos-arquitetura Clipboard Save this picture!© Lufe Gomes+ 16Curated by Matheus Pereira Share Photographs Photographs:  Lufe Gomes Manufacturers Brands with products used in this architecture project Manufacturers: Leroy Merlín, West Elm, Guangzhou, Móveis Cimo, Saarinen Design, Tok&Stok, Trimble NavigationSave this picture!© Lufe GomesText description provided by the architects. In Londrina, the 170 m² residence is a place for a mix of eras and references and tells the story of a couple from Paraná. The space harmonizes the collection of pieces that the resident, the farmer and designer Valdomiro Favoreto, collects since he was 20.Save this picture!© Lufe GomesIn order to expand the internal area, the living room and kitchen open to the outside area, integrating the space. The yard has won an ipe deck on the floor and spaghetti armchairs of the 1960s. The minimalist air is result of the texas grass and the mirror hanging on the wall, the dweller’s design.Save this picture!© Lufe GomesIn the outdoor area, agate topped tables, also created by Valdomiro, rescue and evoke nature, joining the Leroy Merlin sofas and the Tok & Stok armchair. The Dominici floor lamp and pots from the 80’s contribute to the retro vibe of the space.Save this picture!© Lufe GomesThe dining room is illuminated by the pendant of the West Elm and integrated into the outer space by the glass panels that open. The funky pendants illuminate the Saarinen table.Save this picture!© Lufe GomesSave this picture!Ground floor planSave this picture!© Lufe GomesInside, the living room has walls in neutral tones and granilite flooring, typical material of the 20th century, which expands to the kitchen countertops. The furniture includes brazilian vintage pieces, such as the armchair signed by José Zanine Caldas, the pair of Danish armchairs Jorge Zalszupin and the closet of the 50’s of the old Móveis Cimo industry.Save this picture!© Lufe GomesNature is also present in the space, with potted plants and agate plaques, as well as furniture designed by the dweller  that combines aluminum and natural stones.Save this picture!© Lufe GomesThe kitchen gains a vintage vibe with ceramic pots from the 60s and 70s supported under the granilite countertop and stainless steel top. For the couple, who likes metallic finishes, the cabinets with brass coated doors creates a perfect space. Next to the bench, banks bought in supermarkets complete the place.Save this picture!© Lufe GomesUpstairs the room of the couple has gained soft shades of pink, with the bedside covered with linen. The Dominici’s vintage lamp and the off-white linen curtains bring lightness and warmth into the space. In the corner, the dresser, design of TODOS, share space with the chair of the 1970s, completing the period mood. The result is a space of personality and architecture that is born with history. The bathroom has received a milk-sweet ceiling with a Tok & Stok cupboard. The dark gray porcelain tile of the Rock coats floor and walls. A small gold-tone stool from Zara Home brings the high-space climate to space.Save this picture!© Lufe GomesProject gallerySee allShow lessYingst Retreat / Salmela ArchitectSelected ProjectsNew Conference ROOM XIX / Peia AssociatiSelected Projects Share Year:  Londrina House / Todos Arquitetura Projectslast_img read more

National Garden Scheme & Macmillan Cancer Support celebrate 35 year partnership

first_imgGeorge Plumptre, CEO of the National Garden Scheme Lynda Thomas, CEO, celebrating 35 years of Macmillan Cancer Support and the National Gardens Scheme’s partnershipLessons from the National Garden Scheme partnershipUK Fundraising spoke to the CEOs of Macmillan Cancer Support and the National Garden Scheme and asked them about the lessons and challenges of running and maintaining such a successful partnership. Tagged with: fundraising events partnerships AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis14  398 total views,  2 views today Q. How does a charity maintain and keep fresh an idea that has continued beyond the ideas and initial impetus of its originators?Lynda Thomas, Chief Executive of Macmillan Cancer Support, says:“Since the inception of our partnership with the National Garden Scheme 35 years ago, both of our organisations have seen a huge amount of change. One constant through those periods has been the unwavering commitment to the partnership on both sides, and so we are just as excited about it now as we were in 1984 when we were first invited to become a beneficiary of the National Garden Scheme. In that time, the National Garden Scheme has donated an incredible £17.2million to Macmillan, which has allowed us to support people living with cancer with every aspect of life – whether physical, emotional or financial. This includes the National Garden Scheme’s generous £2.5 million donation to build the Y Bwthyn NGS Macmillan Specialist Palliative Care Unit in South Wales. The state-of-the-art unit means that patients won’t have to travel between units to access specialist treatment and care.“We regularly meet to discuss new and innovative ways to encourage people to enjoy the tranquillity of a National Garden Scheme space, while raising vital funds so that we can continue to be right there for those who need us. Last year, we launched an exclusive calendar on our online shop in partnership with the National Garden Scheme and this year we’re hosting a photography competition for the public to showcase the images of the National Garden Scheme spaces they visit. We also work to support the National Garden Scheme with their national events, like their annual Gardens and Health Week, which promotes the positive impact gardens can have on both physical and mental health. And of course, we’re lucky to have the support of a brilliant band of 3,500 volunteers across the country who continue to open their gardens every year, with an enthusiasm and energy which is truly inspiring.“As the number of people living with cancer is set to rise to almost four million by 2030, our partnership with the National Garden Scheme is set to become more important than ever, and we look forward to continuing our work together so that we can be right there for those who need us.” National Garden Scheme & Macmillan Cancer Support celebrate 35 year partnership About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Melanie May | 23 July 2019 | News “As President of the National Garden Scheme I am enormously proud of the remarkable amounts of money that our garden openings have helped generate for nursing and health charities. I have always believed that gardens and garden visits can have positive health benefits and this partnership with Macmillan Cancer Support is the living embodiment of that.” Macmillan Cancer Support is today (23 July) celebrating the 35th anniversary of its partnership with the National Garden Scheme.The partnership is the charity’s longest running one and has so far raised £17.2m, funded 150 Macmillan nurses and helped to open care units in Bristol and Chesterfield as well as a new specialist palliative care unit in South Wales.The partnership started in 1984 when the National Garden Scheme invited Macmillan Cancer Support to be a beneficiary, raising £35,000 for it in the first year.Since then, milestones have included:2004The National Garden Scheme wins the Macmillan Champion Award for Groups and Associations – celebrating 20 years of supporting Macmillan.2011The National Garden Scheme supports Macmillan’s Move More initiative, encouraging people living with and beyond cancer to get active through gardening.2014The National Garden Scheme donates £500,000 to help fund the NGS Macmillan Wellbeing Centre at Southmead Hospital in Bristol.2015Macmillan and the National Garden Scheme celebrate over £15 million raised since the beginning of their partnership.2017The National Garden Scheme raises a record-breaking £3.1 million and begins an annual funding programme to support gardens and health-related projects.2017The NGS Macmillan Unit at Chesterfield Royal Hospital opens its doors to people living with cancer in North Derbyshire. 2018Building begins for the Y Bwthyn NGS Macmillan Specialist Palliative Care Unit in South Wales.2018The National Garden Scheme pledges £2.5 million to the build of the Y Bwthyn NGS Macmillan Specialist Palliative Care Unit.Lynda Thomas, Chief Executive of Macmillan Cancer Support, said:“Our partnership with the National Garden Scheme has raised an astounding £17.2 million in the 35 years we’ve been working together, which enables us to be right there with people living with cancer from the moment they’re diagnosed. Since 1984, we’ve been bringing people together to enjoy the tranquillity of outdoor spaces with their loved ones, while raising money for a vital cause. We look forward to continuing our work together to support the growing number of people living with cancer.”Mary Berry, President of the National Garden Scheme, added: Advertisement Q. How has the National Garden Scheme kept its brand distinct, given the rise in alternative open garden events in aid of charity?George Plumptre, CEO of the National Garden Scheme, says:“I think our biggest strength is the combination of our results on a national basis over a very long period of time; our heritage where the enjoyment of gardens and the financial rewards to nursing and health have always been directly linked; and the scale of dedication and expertise we are lucky enough to have access to. Put simply, this combination puts us in a different league to anyone else managing their own open garden scheme.”  399 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis14last_img read more

Philadelphia solidarity with rebellion in Turkey

first_imgProgressive activists joined Turkish immigrants in Philadelphia’s Love Park on June 17 to express solidarity with the ongoing rebellion in Taksim Square in Istanbul.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img

20,000 workers at AT&T Southeast strike over unfair labor practices

first_imgThe following press release was issued on Aug. 23, the day before CWA workers went out on strike.  For more information, go to cwa-union.org.Communications Workers (CWA) members at AT&T Southeast plan to go on strike at midnight over unfair labor practices committed by management during negotiations for a new contract.CWA has filed an unfair labor practice charge with the National Labor Relations Board against AT&T for not bargaining in good faith and not sending representatives to the bargaining table with the authority to make decisions.“We entered these negotiations prepared to bargain in good faith with AT&T to address our members’ concerns and to work together to find solutions,” said CWA District 3 Vice President Richard Honeycutt. “Our talks have stalled because it has become clear that AT&T has not sent negotiators who have the power to make decisions so we can move forward toward a new contract.”The strike will involve over 20,000 technicians, customer service representatives and others who install, maintain and support AT&T’s residential and business wireline telecommunications network in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee.Additional unfair labor practice charges have been filed against the company in Florida for illegally disciplining members for wearing union memorabilia and for participating in activities that are protected under the National Labor Relations Act. CWA members in South Florida initiated a strike over the company’s unfair labor practices on August 22.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Nenagh hospital staff plead for COVID vaccines in video shared online

first_imgLimerick Ladies National Football League opener to be streamed live WhatsApp Facebook Advertisement WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Donal Ryan names Limerick Ladies Football team for League opener Linkedin TAGSKeeping Limerick PostedlimerickLimerick PostNenagh Hospital Email A group of doctors and nurses at Nenagh Hospital have called on the government to sanction the rollout of COVID-19 vaccines for the hospital’s frontline staff who have been treating COVID-19 patents since last March.Staff at the Co Tipperary hospital said they were “infuriated” they had not yet received the vaccine, but that their colleagues within the UL Hospitals Group, at University Hospital Limerick; Ennis Hospital; and University Limerick Maternity Hospital have.Sign up for the weekly Limerick Post newsletter Sign Up Up to 2,500 staff across the mid west hospital group have received a first phase dose of the Pfizer BioNTech vaccine, however staff at Nenagh Hospital; St Johns Hospital, Limerick; and Croom Orthopaedic Hospital, have not been told when they will be vaccinated.This morning before the start of her shift “nursing Covid patients”, Nenagh Hospital Clinical Nurse Manager, Louise Morgan Walsh, along with several colleagues, appeared in a video pleading with the government to release vaccines for staff at the hospital.The unprecedented recording by HSE staff was posted on Ms Morgan Walsh’s Facebook account this morning.Speaking afterwards Ms Morgan Walsh, who identified herself as being the first member of staff that appears in the video, said she was “exasperated” because staff had yet to be told when they would receive vaccines, let alone actually receive the potentially life-saving jab.In the video message, addressing the Taoiseach Micheal Martin and Minister for Health Stephen Donnelly, Ms Morgan Walsh says she wants “to know why aren’t we being vaccinated, why are we being left out”.“We are so angry, we are scared, we are afraid, we can see our co-workers going down with Covid and becoming very ill.”“How come we in Nenagh Hospital are being left out, when we can see private hospitals being vaccinated where there are no covid patients, that’s a question I want to ask the minister (for health),” adds Ms Morgan Walsh.Another female staff member, who appears in the video, says: “I’m very infuriated that we have not even got a date for a vaccine here in Nenagh hospital. Everybody has family members, whether it be elderly parents, elderly grandparents, children, and we are so infuriated that it’s being picked who is getting this vaccine.”“Our co-workers are going down (with covid) at a rate that is just unbelievable, we are so scared, and we have no sight of a vaccine,” she adds.A third female staff member says the situation is “urgent” at the hospital.“We already currently understaffed, and if we do not get this vaccine we are outnumbered patient to staff ratio — this is urgent,” she says.A male doctor also addresses the camera and says that “none of the staff here have been vaccinated so far and we have a lot of numbers of covid patients that we are dealing with everyday”.“I request the government to take immediate steps to provide vaccines for us,” he goes on.A second male doctor who says he has been deployed to the “Covid ward” at Nenagh, adds: “I’m being deployed with the Covid patients and I did not get my vaccine yet, the staff who are not frontline are getting it, why aren’t we?”Another male staff member says: “We have been looking after Covid patients since March, and we should be the ones who receive the vaccine first, not the other staff working in the other sectors, it is really frustrating, and we are really under pressure, so I think we deserve to get vaccinated”.UL Hospitals Group has been asked for comment, however, in response to a query from this reporter last Wednesday about vaccine roll out across the UL Hospitals Group, a spokesman said: “Ultimately, the vaccine will be rolled out across all hospitals in UL Hospitals Group. Currently, we are prioritising staff in Intensive Care and High Dependency Units, in our emergency care and COVID admission pathways, and on our COVID-positive wards, so that we can continue managing our emergency services.”“We are currently issuing as much vaccine as possible, based on availability of vaccine and clinical prioritisation. All staff will be offered the vaccine regardless of employment status or grade. This includes temporary staff, agency staff and contractors and students on clinical placements.”“We look forward to rolling out the vaccine programme to the other sites in UL Hospitals Group at Nenagh Hospital, St John’s Hospital and Croom Orthopaedic Hospital, as soon as possible and as deliveries of the vaccine accelerate.”There are 579 staff, including over 200 nurses and 50 medical team doctors, unavailable for work across the group due to COVID-19.center_img Twitter RELATED ARTICLESMORE FROM AUTHOR Roisin Upton excited by “hockey talent coming through” in Limerick Previous articleReflecting On Munster’s Season So FarNext articleLimerick get first All Star Football Nomination in ten years as Iain Corbett is chosen among nominees David Raleigh Print Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash LimerickNewsNenagh hospital staff plead for COVID vaccines in video shared onlineBy David Raleigh – January 15, 2021 1460 Limerick’s National Camogie League double header to be streamed live last_img read more

Fed Discusses Market Health

first_imgSign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe This week, the Federal Open Market Committee will release the minutes of its last meeting. During the committee’s October 4 meeting, it was announced that the Board of Governors of the Federal Reserve System voted unanimously to lower the interest rate paid on required and excess reserve balances to 1.55 percent, effective October 31, 2019. The FOMC cited strong labor, as employment rose by 128,000 in October according to the latest Employment Situation Summary.Fannie Mae Chief Economist Doug Duncan notes that this number accounts for net losses of 42,000 for motor vehicles and parts manufacturing, and what this means for the Fed’s rate decision.“The average workweek held steady, and average hourly earnings growth was unchanged at 3.0% year over year, which should offset concerns of weakening personal income growth,” Duncan said. “In the household survey, the unemployment rate ticked up one-tenth this month but remains at historically low levels, and labor force participation increased as well, indicating workers are continuing to return from the sidelines. Based on this report, the Fed should be comfortable with its tone at the recent FOMC meeting in which it implied a more muted appetite for future rate cuts.”With the increased number of jobs comes an increased volume of residential construction workers, notes First American Deputy Chief Economist Odeta Kushi. The solid jobs report is a good reflection of strength in the housing market.“More hammers means more homes, so October’s month-over-month gain of 2,900 residential construction jobs signals an increase in new home construction may be on the horizon, which would benefit home buyers and the housing market,” Kushi said in a statement. “Since the recession, housing starts per construction worker (construction productivity) has improved, but seems to have settled just above 1.4 housing starts per worker. The rise in construction jobs is good news for the housing market, as finding ways to increase the productivity of construction workers is critically important to alleviating the labor shortage challenge and the gap between household formation and home building.”Here’s what else is happening in The Week Ahead:NAHB/Wells Fargo Housing Market Index (November 18)Housing Starts Report (November 19)Banking, Housing, and Urban Affairs Hearing (November 20)NAR Existing Home Sales Report (November 21) Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Federal Reserve Previous: Bank of America Invests $3M Toward Detroit Housing Next: Fannie Mae: Housing Driving Economic Growth The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Fed Discusses Market Health Share Savecenter_img November 15, 2019 1,320 Views Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn Home / Daily Dose / Fed Discusses Market Health  Print This Post in Daily Dose, Featured, Government, News Federal Reserve 2019-11-15 Seth Welborn Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. last_img read more

Road Construction Companies Move Delhi HC Seeking Restructuring Of Loans Citing Economic Crisis

first_imgNews UpdatesRoad Construction Companies Move Delhi HC Seeking Restructuring Of Loans Citing Economic Crisis Radhika Roy11 Jun 2020 4:24 AMShare This – xA petition has been filed before the Delhi High Court by road construction companies, seeking for a one-time restructuring of loan accounts in wake of the debilitating financial landscape due to the COVID-19 pandemic. Filed by Advocates Kotla Harshavardhan, Japneet Kaur and Mansi Sood on behalf of Bharat Road Network Limited and other road construction companies, the plea states that there…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?LoginA petition has been filed before the Delhi High Court by road construction companies, seeking for a one-time restructuring of loan accounts in wake of the debilitating financial landscape due to the COVID-19 pandemic. Filed by Advocates Kotla Harshavardhan, Japneet Kaur and Mansi Sood on behalf of Bharat Road Network Limited and other road construction companies, the plea states that there has been a “violation of rights conferred under Articles 14 and 19 of the Constitution, with regard to the restructuring of loan accounts of the Petitioners, due to deterioration of the financial landscape of the economy, during the lockdown of the country, keeping in view the spread of COVID-19 in the country, which is declared as a ‘pandemic’ by the World Health Organisation, a ‘notified disaster’ by the Ministry of Home Affairs and a ‘natural calamity’ by the Ministry of Finance’. Referring to the guidelines issued by the Ministry of Home Affairs which suspended certain commercial activities and movement, the plea seeks for a writ of mandamus to be issued to the Respondents to allow a one-time restructuring of loans as a relief measure to the industries/companies/retail consumers, so that they are not classified as Non-Performing Assets when the lockdown is lifted. The plea avers that MSMEs were allowed a one-time restructuring of loans as their cash flows had been severely affected because of the formalization of business through registration under GST. As an extension, this facility should be extended to all industries. “…because of the economic activity coming to a standstill during the period of the lockdown, with consequential lingering effects which have undoubtedly affected the cash flows of businesses.” On 27th March 2020, a 3-month moratorium had been announced on payment of all instalments falling due between March 1 and May 31. This had been extended to 31st August. The plea contends that the regulatory measures adopted by the RBI are inadequate in light of the extension of the lockdown and the bleak scenario with respect to the revival of the economy. The Petitioners being road construction companies have borne a heavy brunt due to the lockdown. “That even after the lockdown is lifted, it will take a long time for the industry to be able to come back to normalcy, primarily because on account of the ongoing pandemic travel will continue to be far less than the travel during the days of normalcy. Consequently, toll collection will also be far less compared to earlier.” Apart from a severe impact on toll collection, some stretches of the highway have also not been completed on account of lack of labour force and milestone-based billing. The petition further invokes Section 35A of the Banking Regulation Act, 1949 which stipulates that the RBI is required to issue directions in public interest in order to prevent the affairs of a Banking Company being conducted in a manner which is detrimental to the interest of the depositors or prejudicial to the interest of the Banking Company. The plea also refers to Section 45JA of the Reserve Bank of India Act, 1934, which requires for the RBI to ensure that the affairs of an NBFC is not conducted in a manner prejudicial to the interest of the depositors or the NBFC. As a consequence, and as per the tenets of Satya Pal Anand v. State of MP & Ors (2015), the Court retains the authority to issue a mandamus when a public authority has failed to exercise or wrongly exercised the discretion conferred upon it by a statute or policy. “In a proper case, in order to prevent injustice resulting to the concerned parties, the court may itself pass an order or give directions which the government or the public authority should have passed or given had it properly and lawfully exercised its discretion”. In light of the above, and as the Petitioners have never been declared as NPAs, the plea prays for the allowance of a one-time restructuring of loans, bonds etc. in view of the ongoing pandemic as envisaged under the relevant statutory provisions and circulars.   Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more