See all posts by Rupert Hargreaves Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Simply click below to discover how you can take advantage of this. Image source: Getty Images. There are currently only a handful of stocks in the FTSE 250 that support dividend yields of 5% or more. One of these companies is Royal Mail (LSE: RMG). At the time of writing, shares in Royal Mail support a dividend yield of 7.8%, which looks highly attractive compared to the index’s average of 2.9%.Many investors consider incredibly high dividend yields to be a sign of distress. Therefore, it’s often best to avoid companies with yields more than twice the market average. On this basis, Royal Mail looks to be in distress, but should investors really be worried?5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Income potentialOne of the fastest ways to figure out if a dividend is sustainable is to look as cash flow. Dividends are paid out of cash resources. If a company isn’t generating enough free cash from operations to cover the payout, then it will either have to borrow money or cut the distribution.In its last financial year covering the 12 months ending 31 March 2019, Royal Mail recorded operating cash flow from operations of £493m and capital spending for the year of £364m. That suggests total free cash flow for the year of £129m.Unfortunately, the group’s total dividend distribution for the year amounted to £242m. This implies the company paid out more than it could afford in its last financial year. With this being the case, it’s no surprise management decided to cut the postal service’s distribution by 40% in May 2019.This cut should have helped improve dividend sustainability, but there’s another problem. City analysts expect the company to report a 57% decline in earnings per share in its current financial year. A further reduction of 26% is expected for fiscal 2021.UnsustainableIf Royal Mail’s dividend looked unsustainable in its 2019 financial year, even a 50% dividend cut might not be enough to save the distribution if net income slumps as much as analysts are expecting over the next two years.In the past, the company has been able to produce extra cash by cutting costs and selling off assets. However, it can’t continue to do this forever.Royal Mail has always had a fractious relationship with its workforce. Therefore, further cost cuts to help shareholders, at the expense of employees, could only lead to further industrial action.At the same time, group borrowing has increased as management has tried to fill the gap between cash coming in and cash flowing out of business. Net debt was £1.4bn at the end of the company’s last reported period. In fiscal 2016, net debt was just £244m.ConclusionWe won’t know what management wants to do about Royal Mail’s dividend until the company announces is its full-year results in the middle of 2020. Still, considering all of the above, it seems highly probable the organisation will cut its dividend further.As such, it looks as if the Royal Mail share price’s 7.7% dividend yield cannot be trusted. Rupert Hargreaves owns no share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Can you trust the Royal Mail share price’s 7.7% dividend yield? “This Stock Could Be Like Buying Amazon in 1997” Rupert Hargreaves | Tuesday, 4th February, 2020 | More on: RMG I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address Our 6 ‘Best Buys Now’ Shares
Mexico Architect In Charge:Lena de la Torre, Oscar Fdo. Mendoza LCollaborators:Laura Javier, Jimena GarcíaArt:René AlmanzaCity:MonterreyCountry:MexicoMore SpecsLess Specs Houses Ming House / LGZ Taller de ArquitecturaSave this projectSaveMing House / LGZ Taller de Arquitectura Photographs Area: 257 m² Year Completion year of this architecture project ArchDaily Text description provided by the architects. The design of the house generates a perception of spaciousness well above the square meters of actual construction. Each one of the generated spaces follow the priority of extending the sight lines: the long entrance corridor that elongates through a linear garden outside; the long stairs that links the second level with the first one and continues towards the length of the swimming pool; every distributing zone visually reaching a perspective of the inner patio.+ 39The ample roof heights, as well as the design of ceilings emphasize the perceived spaciality, contributing to this factor also the strategic positioning of windows and skylights, which enhance natural light while blocking the not-so-engaging views of nearby built context and framing the better views of natural background. The simplicity of the exterior form reflects the inwardly attitude of the house: closed from the outside world, safely open from the inside.Save this picture!© Jorge TaboadaMaterials alternate in series of contrasting themes that articulate interior and exterior design: from the white purity of the walls, through the dark stone tones of the floor, the sandy colors of the main wall that connects the main length of the project, to the natural wood tones in furniture, decks and art objects.Save this picture!© Jorge TaboadaNature flows in and around the house and enriches it. The posterior garden is populated by native plants (from grasses, shrubs, oak trees) which have low maintenance and water requirements. The interior patio affords great views of the green wall from the first and second floor bringing shadow, freshness and relaxing views to every interior space in the house.Save this picture!© Jorge TaboadaSave this picture!© Jorge TaboadaProject gallerySee allShow lessAberto Studio / AR ArquitetosSelected ProjectsAD Round Up: Architecture in SingaporeMisc Share “COPY” Architects: LGZ Taller de Arquitectura Area Area of this architecture project Projects Photographs: Jorge Taboada Manufacturers Brands with products used in this architecture project CopyAbout this officeLGZ Taller de ArquitecturaOfficeFollowProductsWoodGlassConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesMonterreyTop100MexicoPublished on June 23, 2014Cite: “Ming House / LGZ Taller de Arquitectura” 23 Jun 2014. ArchDaily. Accessed 11 Jun 2021.
New fundraising manager at After Adoption Howard Lake | 3 May 2013 | News Adoption support charity After Adoption has appointed Helen Archibald as its new fundraising manager, with the task of extending the Manchester-based charity’s partnerships with companies.Archibald joins from Cheshire-based charity David Lewis where she worked as fundraising manager for over eight years.At After Adoption she will lead a team of five staff and five volunteers. Advertisement Archibald will build on intiatives such as the charity’s Dress for Success event in partnership with national law firm Slater Gordon, and its involvement with the annual Regent’s Park 10km run. About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis 5 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis
73 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Few Oxford Street shops visibly support charities, says Give as you Live Tagged with: corporate Give as you Live London Trading Only one in five shops in London’s main shopping street Oxford Street are visibly supporting charities, according to the online shopping site ‘with a heart’ Give as you Live.The company commissioned research that explored the physical shops and websites of 45 major retailers on Oxford Street in October 2014.Giving in-storeTwo stores (4%) had a charity collection tinTwo (4%) had processes that promoted donating items to charity in return for a gift voucherFive (11%) had products in-store that generated donations to charityGiving onlineCharitable support was more in evidence on the retailers’ websites.27 stores (60%) listed charities or good causes on their website, often on their CSR page18 (40%) on the other hand did not list any charities or discuss charitable support anywhere on their websiteNone of the stores offered online shoppers the chance to donate at checkout through methods like rounding-up to the nearest pound. “We deliberately wanted the research to reflect what retailers are doing in store outside the national drives like The Poppy Appeal and Christmas campaigns – unfortunately, it turned out to be very little.“Previous Give as you Live research from last year found that almost half of us would spend more money with a retailer if they donated to a charity. The same research found that eight in ten Brits believe that retailers should be doing more to support UK charities. Retailers could be increasing sales if their CSR efforts were more visible.”She noticed that listing a retailer’s charitable activity on its website’s CSR page meant that the partnership was not as visible as it could be: you would have to be looking for it to find it.Risdon added:“We know that consumers want to see retailers giving back, so we’re calling on them to make more noise about the charities they support and the causes they fund.”Give as you Live lets consumer compare prices and shop online from over 3,700 retailers and generate a percentage of their expenditure to the charity of their choice, at no extra cost to themselves. To date the site has raised over £5 million for UK charities.Photo: Christian Mueller / Shutterstock.com Howard Lake | 15 December 2014 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Annabelle Risdon, Head of Charity Partnerships at Give as you Live, explained why they undertook the research. She said: Advertisement
News RSF_en TanzaniaAfrica Protecting journalists Disappearances The 2020 pandemic has challenged press freedom in Africa Receive email alerts July 11, 2019 Tanzanian minister says missing journalist “died,” but offers no explanation TanzaniaAfrica Protecting journalists Disappearances Organisation After the Tanzanian foreign minister’s casual reference in a BBC interview to the death of a journalist missing for the past 19 months, Reporters Without Borders (RSF) accuses the government of displaying a lack of consideration in its handling of the case and demands the release of the details of its investigation. News November 27, 2020 Find out more November 5, 2020 Find out more February 4, 2021 Find out more Twitter arbitrarily blocks South African newsweekly and several reporters over Covid vaccine story Reports Help by sharing this information Follow the news on Tanzania to go further News Tanzanian media unable to cover Covid-19 epidemic The journalist, Azory Gwanda, who worked for the Kiswahili newspaper Mwananchi and its English-language version The Citizen, disappeared in the eastern coastal region of Rufiji on 21 November 2017 while investigating the unexplained killings of local officials.Asked during an interview yesterday for the BBC programme “Focus on Africa” if he knew where Gwanda was, foreign minister Paramagamba Kabudi referred to him as having “died,” without going into any detail. He added: “The state is not only dealing with Azory Gwanda. The state is dealing with all those who have unfortunately died and disappeared in Rufiji.”Gwanda’s disappearance has been the subject of many civil society requests for information to which the Tanzanian government never responded. RSF is among those who have been pressing for a proper investigation into his fate.“After a year and a half of silence and minimization of this case, the sudden announcement of this journalist’s death without any explanation is shocking,” said Arnaud Froger, the head of RSF’s Africa desk. “If the authorities did carry out an investigation, we demand the publication of its findings. A journalist’s disappearance or murder must not go unpunished.”Tanzania is ranked 118th out of 180 countries in RSF’s 2019 World Press Freedom Index after falling 25 places in a single year.
News Turkey’s never-ending judicial persecution of former newspaper editor News Organisation to go further TurkeyEurope – Central Asia (Photos: Ozan Kose / AFP) Receive email alerts News Help by sharing this information Follow the news on Turkey April 2, 2021 Find out more RSF_en TurkeyEurope – Central Asia Reporters Without Borders calls for a de-escalation in tension and respect for freedom of information in Turkey. Tension has mounted dangerously since last week’s suicide bombing in Suruç and the media have been affected both by government censorship and generalized violence amid a resumption in fighting with the Kurdistan Workers’ Party (PKK).Türkçe / Read in TurkishViewing the government as the accomplices of Islamic State, whose 20 July bombing in Suruç left 32 dead and more than 100 wounded, the PKK has been targeting Turkish policemen and soldiers, and government forces have responded with air strikes on both Islamic State in Syria and the PKK in Iraq.The peace process between the government and Kurdish rebels that began in late 2012 is now completely derailed. At the same time, clashes have erupted throughout the country between the security forces and various opposition groups. In the name of “combatting terrorism,” the authorities have arrested hundreds of activists, especially in pro-Kurdish circles. And journalists are paying dearly for this decline in the political climate.Massive censorshipShortly after the start of the air strikes, the High Council for Telecommunications (TIB) ordered the blocking of around 100 news and information websites on 25 July. And, in accordance with recent amendments to Internet legislation, court decisions subsequently endorsed these orders.According to a list compiled by Engelli Web, a specialist website, at least 65 of the targeted sites are pro-Kurdish ones. They include the sites of the Özgür Gündem newspaper, the DIHA, ANHA and ANF news agencies, the Rojnews and BestaNûçe TV stations, and local newspapers such as Yüksekova Haber and Cizre Haber.Rudaw, a news website that supports the ruling party in Iraqi Kurdistan, and left-wing news outlets such as Sendika.org and the ETHA news agency have also been blocked.A total of 23 Twitter accounts have also been rendered inaccessible since 25 July and the entire Twitter website was blocked for several hours on 22 July after a local magistrates’ court banned photos and video of the Suruç bombing.Dozens of journalists yesterday brought a complaint against Deputy Prime Minister Bülent Arinç for accusing the Evrensel and Özgür Gündem newspapers on 24 July of being “criminal machines.” The Reporters Without Borders representative in Turkey, Erol Önderoglu, supported this initiative.Prime Minister Ahmet Davutoglu meanwhile invited leading Turkish news media editors and executives to a briefing yesterday about the ongoing “anti-terrorist operations” and used the occasions to remind them of the government’s “red lines,” as Recep Tayyip Erdogan previously did at the height of the clashes with the PKK in 2011.The editors of three newspapers that support the religious and social movement led by US-based preacher Fethullah Gülen – Zaman, Taraf and Bugün – and the editor of the left-wing daily Birgün were not invited to the briefing.“What with their massive censorship of Kurdish newspapers and their attempts to control other media outlets, the authorities seem to be succumbing to their old reflexes,” said Johann Bihr, the head of the Reporters Without Borders Eastern Europe and Central Asia desk.“But far from calming things down, this repressive spiral will only accentuate frustrations and help to fuel tension. A return to the peace process and the continuation of democratic reforms, including reforms that encourage freedom of information, are an integral part of the solution to regional security challenges.”Bihr added: “A relaxation of the taboo on covering Kurdish issues was one of the very few positive aspects of President Recep Tayyip Erdogan’s record, one otherwise marked by increasingly authoritarian excesses. A drastic reduction in the space for democratic debate would be disastrous for Turkish society and for the Turkish government’s international obligations.”TensionOn 24 July, the security forces defused a bomb outside the headquarters of the pro-government Star media group for which the MLKP, a small, far-left organization, was widely held responsible. The Star media group nonetheless issued a statement attacking the HDP, a pro-Kurdish party, and the Dogan media group, which supports the Kemalist opposition.Cüneyt Yavuz, a journalist with the Özgür Gündem daily, was injured by a teargas grenade during clashes between police and far-left activists in Istanbul on 26 July. He was covering a police operation near a mosque that was preventing the burial of a female activist who had been killed two days earlier.In response to the attacks on the media, Reporters Without Borders urges all parties to act with restraint and to do everything possible to ensure that journalists are able to work safely. Turkey is ranked 149th out of 180 countries in the 2015 Reporters Without Borders press freedom index. April 28, 2021 Find out more Journalists threatened with imprisonment under Turkey’s terrorism law April 2, 2021 Find out more Human rights groups warns European leaders before Turkey summit July 28, 2015 – Updated on January 20, 2016 Media are collateral victims of surge in tension Related documents rsf_280715_tr-2.pdfPDF – 131.99 KB News
Organisation August 21, 2020 Find out more Help by sharing this information RSF_en Reporters Without Borders condemns the 10-year jail sentence which a criminal court in the northeast Bangkok district of Ratchada imposed today on Suwicha Thakor for posting content online that was deemed to have insulted the monarchy. Thakor has been held in Bangkok’s Klong Prem prison since 14 January. “The charge of lese majeste has become a major tool of repression in Thailand,” Reporters Without Borders said. “The sentence passed on Suwicha Thakor violates online free expression and is out of all proportion to what he is alleged to have done. We call for his release and we urge the government to amend this law, which is being abused in an unacceptable manner.” Thakor’s lawyer said he was accused of posting photos, videos and comments online which, according to the court, defamed the monarchy. He was found guilty on two counts under the lese majeste law and one count of causing “offence” under the Computer Act. The court gave him a 10-year jail term for each of the first two counts, for a total of 20 years but, as he pleaded guilty, this was halved. Thakor said in court, after the verdict: “I am ill… I need help… I have three children.” Alluding to his father, wife and three children, he added: “I must remain in prison for 10 years, but there are five people who are dying.” Thakor was arrested on 14 January by the Department of Special Investigation (DSI) while staying with friends in the provinces. He was identified as the source of the defamatory content by his computer’s IP address. The DSI claimed that he had left Bangkok because he knew he was guilty. His lawyer, whose two requests for Thakor’s release on bail were rejected, has appealed against the sentence. Reporters Without Borders condemns the 10-year jail sentence which a criminal court in the northeast Bangkok district of Ratchada imposed today on Suwicha Thakor for posting content online that was deemed to have insulted the monarchy. Thakor has been held in Bangkok’s Klong Prem prison since 14 January. More information about Suwicha Thakor. News Receive email alerts Thai premier, UN rapporteurs asked to prevent journalists being returned to Myanmar Follow the news on Thailand Giles Ji Ungpakorn, a university academic who went into exile after being sought on a lese majeste charge, said: “All Suwicha did was express his views of the monarchy online (…) But no one should be surprised that justice had not been done in the Thai courts because there is neither transparency nor responsibility in most of the country’s institutions. The judges have their own interpretation of what constitutes lese majeste.” ————————–Download the report “His untouchable Majesty – Censorship and imprisonment : the abuses in the name of lese majeste” (issued on 9 February by Reporters Without Borders) April 3, 2009 – Updated on January 20, 2016 Internet user gets ten years in jail for posting content that “defamed” monarchy ThailandAsia – Pacific ThailandAsia – Pacific Red alert for green journalism – 10 environmental reporters killed in five years ————————–More information about Suwicha Thakor. to go further News News May 12, 2021 Find out more June 12, 2020 Find out more Covid-19 emergency laws spell disaster for press freedom News
Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago December 21, 2020 1,439 Views 2020-12-21 Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago About Author: Christina Hughes Babb The COVID-19 crisis changed every aspect of American life. The property/financial-data analysts at CoreLogic examined how, specifically, the pandemic affected real estate and the housing economy in 2020 and how the industry’s response to sudden challenges is likely to shape the coming year.In its white paper entitled, “Modernizing the Housing Economy,” CoreLogic addressed the myriad ways the health crisis has been “a catalyst for change.””The pandemic is challenging the real estate, lending and insurance industries to set new standards on safely, as well as to effectively manage the property ecosystem—to think differently and embrace the disruption as an opportunity for change,” the authors said. “While many of the ripple effects of COVID-19 have been, and continue to be, devastating for so many, it has also demanded a paradigm shift for the better within the real estate, lending, and insurance spaces.”The authors go on to conclude that many technological advancements made in response to the crisis will be “permanent industry changes, ultimately reshaping the way the real estate ecosystem conducts business.”For example, national health guidelines related to COVID-19 made digital homebuying solutions essential.Video volume and 3D model usage were up 141% and 76% respectively compared to 2019, CoreLogic reported, and its own PropertyAssist has completed more than 10,000 virtual appraisals since April. Researchers say to expect these investments to continue to grow in 2021 with the resurgence of COVID-19 cases.CoreLogic’s study showed that, despite a blip in April, purchase mortgages in 2020 rose to their highest levels in 15 years—and purchase and refinancing originations are at the highest level ever. However, the researchers noted, with persistently high unemployment, serious delinquencies are expected to rise 4x by November 2021, which would account for more than 2 million homeowners falling into delinquency.”With the looming end to forbearance periods, we should see a continued investment in loan modification solutions,” noted the authors, who go on to detail challenges—including safely showing homes on the market, verifying employment and income (with so many working remotely), safely appraising homes, addressing “hidden” Homeowners Association (HOA) and Condo Owners Association (COA) liens, and insurance inspecting in a pandemic—and offer technological solutions through its new homebuying/selling tools. Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago A ‘Paradigm Shift For The Better’ in Real Estate Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Print This Post Subscribe Home / Daily Dose / A ‘Paradigm Shift For The Better’ in Real Estate Previous: Finding Ways to Communicate with Consumers Remotely Next: FHA Extends Foreclosure Moratorium, Expands Forbearance Options Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago
Homepage BannerNews Facebook Smoking ban in playgrounds is being observed – HSE WhatsApp Twitter 365 additional cases of Covid-19 in Republic Google+ Pinterest 75 positive cases of Covid confirmed in North Pinterest Further drop in people receiving PUP in Donegal WhatsApp Previous articleLeaders Dundalk beat Derry 2-0 at BrandywellNext articleToday marks the 17th anniversary of the Omagh bombing admin Twitter Main Evening News, Sport and Obituaries Tuesday May 25th RELATED ARTICLESMORE FROM AUTHOR Man arrested on suspicion of drugs and criminal property offences in Derry By admin – August 15, 2015 Google+ Facebook All 47 playgrounds owned or operated by Donegal County Council have been found to be smoke free.All the playgrounds were visited by Health Promotion and Improvement staff from the HSE Donegal over the last 6 months and assessed regarding compliance with Smoke Free Playground signage.No one was found to be using tobacco at the time of the visit but there was evidence of tobacco butts and packaging at 15% of the playgrounds visited.Commenting Fiona Boyle, HSE Smoking Cessation Advisor in Donegal says over all it was good news:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/08/smokeplaygrounds.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Gardai continue to investigate Kilmacrennan fire
News UpdatesAfter Union Bank, IOB, Delhi HC Directs SBI, RBI To Maintain Status Quo On Classification Of Anil Ambani’s RComm, Reliance Telecom Accounts Shreya Agarwal6 Jan 2021 3:00 AMShare This – xAbout a week after Union Bank of India and Indian Overseas Bank, State Bank of India and the Reserve Bank of India have been directed by the Delhi High Court to maintain status quo on the classification of Anil Ambani’s Reliance Communication Ltd’s and Reliance Telecom Ltd’s accounts as ‘fraudulent’ until Jan 13, 2021.Issuing notice on a plea towards the same by Punit Garg, non-executive…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?LoginAbout a week after Union Bank of India and Indian Overseas Bank, State Bank of India and the Reserve Bank of India have been directed by the Delhi High Court to maintain status quo on the classification of Anil Ambani’s Reliance Communication Ltd’s and Reliance Telecom Ltd’s accounts as ‘fraudulent’ until Jan 13, 2021.Issuing notice on a plea towards the same by Punit Garg, non-executive director of Reliance Communication, the Delhi High Court passed an order similar in nature to the one passed earlier on 28.12.2020.The court has however said that the Banks would be free to investigate, issue show cause notice, and file any complaints against the companies independent of the current order of the court.The petition has been described by the court earlier as being similar in nature to petitions which have been filed before the court challenging the vires of RBI’s Master Circular 1.07.2016, updated as on 3.07.2017. The circular lays down guidelines and directions for the declaration of accounts as fraudulent. It has been challenged for alleged violation of principles of natural justice as it allows banks to unilaterally declare accounts as fraudulent without affording the parties any notice or prior communication in this regard.The counsels reiterated this today, and said that relief had been granted to the petitioners challenging the vires of the circular earlier.The banks have been directed to file their replies by Jan 11, and the matter has been listed for further hearing on Jan 13.Next Story