India Competing in the Market for Low-Global Warming Potential
Ahead of the UN Climate Change Conference (COP26) in Glasgow, Scotland, India is advancing its market targets to mitigate the effects of climate change.
On Wednesday, the country ratified the Kigali Amendment to the Montreal Protocol on substances depleting the ozone layer.
The Kigali Amendment to the Montreal Protocol has the potential of avoiding 0.5 degrees of atmosphere warming by the end of the century by phasing out hydrofluorocarbons (HFCs).
HFCs are harmful greenhouse gases used in ACs and refrigerators as an alternative to other ozone-depleting gases like chlorofluorocarbons (CFCs).
India’s ratification will be the 123rd ratification of the necessary treaty amendment. Earlier this year, China and the US also followed a similar move.
The Union Cabinet decides to support New Delhi in mitigating the effects of climate change ahead of the COP26 in October this year. Meanwhile, India is one of the first countries to launch its cooling action plan in 2019.
Prima Madan, the lead consultant of energy efficiency and cooling at NRDC, India, said,
“India has a big opportunity to be on course for an early phasedown of HFCs through domestic innovation-making the Indian industry competitive in climate-friendly cooling products globally”.
Even as India is not obliged to begin phasing down HFCs before 2028, the ratification would clarify air-conditioning and refrigeration industries to develop more climate-friendly technologies and attract international investments.
Britney Spears Accused of Battering Her Housekeeper-Attorney Requested to Close the Investigation
Less than a week after the theft report by the pop star, police returned to Spears’ estate in response to an alleged incident of battery by Britney against her employees-reopening the investigation.
However, on Thursday (August 19), an attorney for Spears denied the claim by the housekeeper and requested the quest to be closed immediately.
On Tuesday, August 10, 2021, the 39-year-old pop star called the police to report a theft at her home but chose not to pursue further action on the deputies’ arrival.
“No report was filed, and it is unclear what she wished to report stolen,” said Ventura County Sheriff Captain Eric Buschow.
The Ventura County Sheriff’s office said that the purported incident went down on Monday when an employee of Spears claimed to the police that the pop star struck her and knocked her phone to the ground during an altercation around 10 am local time.
The dispute derived from Spears allegedly taking umbrage with the employee taking one of her dogs to the vet out of concern for the pup’s well-being.
While the housekeeper got no injury in the incident, she did file a complaint with the Sheriff’s office.
An attorney for Spears’ denied the claim on Thursday.
The note reads, “This is nothing more than a sensational tabloid fodder-alleged misdemeanor with no striking and no injury.
This should have been closed immediately. Anyone can make an accusation”.
The Sheriff’s office has classified the incident as a ‘very minor misdemeanor’
However, the office is still investigating, and it is all up to the district attorney’s office to determine whether to bring Spears up on a misdemeanor battery charge or not.
PMLA Court Ordered Release of Rs 1,000 Crore Worth Assets of Nirav Modi to NCLT Appointed Liquidator
The orders came in the proceedings lodged by ED against Nirav Modi and other accused persons for laundering money of more than Rs 7,000 crores.
A special court in Mumbai under the PMLA(Prevention of Money Laundering Act) recently permitted the release of properties linked to fugitive businessman Nirav Modi in favor of a liquidator appointed by NCLT Mumbai for Modi’s flagship company-Firestar International Ltd.
An application moved by the PNB stated that the prosecution complaint by ED came to report after the series of incidents leading to the prime accused Nirav Modi of defrauding the bank for an amount of over Rs 7,000 crores.
The bank applied in July to seek the release of the assets to recover the debt owed to it by the businessman.
The application further stated that these properties were kept as mortgages by the companies linked to Modi to secure loans.
The NCLT Bench of HV Subba Rao (Judicial Member) and Chandra Bhan Singh (Technical Member) recently appointed Santanu T Ray as the liquidator for FIL.
Special PMLA Judge VC Barde ordered to release of the assets in favor of the NCLT-appointed liquidator.
The investments would be released after filing an undertaking with the court to return or restore it, as directed by the court.
The members of the Committee of Creditors in their Joint Lenders Meeting decided to take FIL into liquidation for the following reasons:
- There is no purpose in spending good money to recover lousy money.
- There are no sufficient assets to repay the amount of the creditors; and
- There is no point in chasing legal suits for money.
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