CWG tennis, cycling venues yet to get completion certificate
With the Commonwealth Games less than a month away, at least two stadia as well as parts of the main sports venue, Jawaharlal Nehru Stadium, are yet to get completion certificates from civic authorities.
However, eight venues have got occupancy certificates from Municipal Corporation of Delhi (MCD), while the New Delhi Municipal Council (NDMC) has given the same to three venues, official sources said.
Slow pace of work at various stadia for the Games has been a cause of concern for long, though the organizers have claimed that everything will fall in place in time.
Home Minister P Chidambaram had earlier this week admitted that the project works were running behind schedule which led to a delay in security related tasks in the Games venues and the Games village.
Security overlays in the games clusters will be completed by September 15 and thereafter the minister will once again review the arrangements.
Govt look into possibility of legalizing sports gambling
The Union government is seriously looking into the possibility of legalizing sports gambling.
It is examining gambling regulations in other countries, particularly the UK and the US, in a clear response to the growing clamor for betting to be legalized.
The sports ministry believes that cricket has such a cult following it should be legal for fans to bet on everything concerning the game.
The government is also seen to be driven by the prospect of huge revenue earnings from bets placed and the taxes levied.
The end result could be more money for sports development.
The ministry is studying Britain’s Gambling Act 2005, which updated the country’s laws on gambling and introduced checks and balances to protect children.
The accent is on understanding the British act’s efficacy and ramifications once adapted to Indian conditions.
The aim is to ascertain whether legalized betting can exist in India without the stigma that is attached to it now.
So, we are looking at the pros and cons with great care. The UK model seems rather comprehensive.
ADAG top execs get more time for Sebi hearing
Top executives of the Anil Dhirubhai Ambani (ADA) Group were granted an extension on Friday by the Securities and Exchange Board of India (Sebi) after the regulator had earlier imposed a deadline of September 3 for a personal hearing by them in a securities market related case.
The case is widely believed to be related to transactions by offshore entities in the shares of Reliance Natural Resources (RNRL) and Reliance Infrastructure.
A show-cause notice is not an indictment but contains allegations of violations, and asks the company to explain why action under Sebi regulations should not be taken.
Last year, regulators and government agencies had investigated dealings by Pluri Emerging Companies, an obscure foreign institutional investor (FII) that purchased participatory notes, or PNs, with stocks like RNRL and Reliance Infra as the underlying.
PNs are instruments that allow offshore entities to trade in Indian stocks.