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Time of India
26-06-2025
- Time of India
St Thomas Mt to be key S Chennai hub
Chennai: To streamline operations and eliminate mid-journey transfers, Chennai Metro Rail Limited (CMRL) is extending corridor five from Alandur to St Thomas Mount with a new 1.25km elevated viaduct. The new link, running parallel to the existing elevated structure, will have two tacks for up trains and two for down — transforming Mount into a full-scale interchange between corridors two (St Thomas Mount-Chennai Central) and five (Madhavaram-Sholinganallur). As per the original plan, commuters travelling from Madhavaram towards southern suburbs such as Madipakkam, Medavakkam, or Sholinganallur had to get down at Alandur and board another train to continue. With the revised alignment, trains can now run uninterrupted. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai To make space for this expanded alignment, CMRL acquired additional land and will also demolish portions of corridor two infrastructure near Railway Station Road, adjusting curves to accommodate the new link, said T Archunan, director (projects), CMRL. He also mentioned that a new building and passenger facilities will come up at Mount on vacant land, establishing it as a key southern transit node, on par with Alandur. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cuối cùng, chơi miễn phí game chiến thuật hay nhất 2025! Sea of Conquest Phát ngay Undo The project gains greater significance as St Thomas Mount is also set to connect with the MRTS network, though the last leg from Velachery has remained incomplete for more than a decade. Commuters welcomed CMRL's initiative but criticised Southern Railway for the stagnation. "CMRL is working with long-term passenger convenience in mind. But Southern Railway has left the MRTS stretch hanging for years," said V Shankar, a Velachery commuter. "If MRTS was handed over to CMRL, it would've been completed by now." Southern Railway said in the past that delays on the Velachery–Mount MRTS leg were due to metro work. CMRL officials, however, said that all related metro work on that stretch near Thillai Ganga Nagar and Mount was completed long ago, and that the delay is unrelated to their operations. With CMRL targeting a 2026 launch for corridor five, commuters hope that if the MRTS leg is handed over in time, both networks could open together, finally bridging one of the city's most stubborn connectivity gaps.
Time of India
16-06-2025
- Politics
- Time of India
AICCTU nat'l meet chalks out plan for July 9 strike
Ranchi: Two-day national executive meet of All India Central Council of Trade Unions (AICCTU) concluded on Monday with a decision to conduct a country-wide campaign from June 20 to ensure the success of the national strike on July 9. Tired of too many ads? go ad free now Around 80 AICCTU members, including national president V Shankar, participated in the event. A total of 10 central trade union have called the strike in support of their demands including withdrawal of four labour codes, govt recognition and payment of Rs 28,000 per month to rasoiyas, and scheme workers, implementation of old pension scheme for govt employees, stopping contractual system of employment, creation of employment opportunities, discontinuation of privatization and others. The meeting also discussed the progress of AICCTU including its membership drives across the country. AICCTU state secretary Subhendu Sen said his union had membership of 9.50 lakh in the country and 1.20 lakh in Jharkhand in Feb. "We have planned to make members among the unorganised workers in coal sector and also among contractual workers in the state. We would also form district committees in at least 21 districts of the state. Presently we have only nine district committees."
Time of India
15-05-2025
- Business
- Time of India
SAT ruling protects compliance officers from liability in corporate fraud cases
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: A recent ruling by the Securities Appellate Tribunal (SAT) has brought relief to compliance officers-the gatekeepers of regulatory and policy adherence in companies. The tribunal recently held that compliance officers can't be held liable for the fraud committed by the promoters or directors of a listed company. Until now, this has been a legal grey area, securities lawyers said. Sebi rules consider the compliance officer as a key managerial personnel. They are held as 'officer-in-default' under the Companies Act, making them as liable as a director of a listed month, the regulator also clarified the role of compliance officers. It sought to increase the importance of the compliance officer in the organisation structure of a listed entity, by requiring them to be one level below the board of case relates to a monetary penalty of ₹10 lakh imposed by Sebi on V Shankar, former company secretary of Deccan Chronicle Holdings , for allegedly misleading investors by signing a buyback announcement based on misstated regulator said Shankar was liable for misleading investors because a public buyback announcement in 2011, signed by him as compliance officer, had stated that the company had sufficient reserves. However, Sebi's investigation revealed that the financial statements had understated loan liabilities and the reserves were not sufficient for a buyback of shares."...the audited accounts are certified by a qualified chartered accountant and approved by the board of directors. Therefore, in our opinion, the finding that the appellant (V Shankar) ought to have verified whether the audited accounts had contained the assets and liabilities is wholly untenable and liable to be set aside," said the SAT bench, presided over by justice PS Dinesh Kumar in its May 5 regulator held that Shankar was deemed to know because he signed the buyback announcement as the compliance officer."If this reasoning is to be accepted, the appellant ought to have read, understood, re-audited the certified accounts of the company already approved by the board of directors. That is not the duty of either the company secretary or the compliance officer," the tribunal said."...the adjudicating officer has presumed that the company secretary/compliance officer ought to have re-examined the veracity of the certified accounts. Such a presumption is without any legal foundation and therefore the impugned order is unsustainable in law," it tribunal held that a compliance officer's statutory role is ministerial, not managerial. It quashed the Sebi order and set aside the penalty imposed on Shankar."The implication of this judgement for compliance officers of listed entities is very significant, because it prevents needless and uncalled for regulatory actions against them for simply being signatories to financial statements, or other documents," Aditya Joby, associate, Joby Mathew & Associates. "This is true even for disclosures under Sebi rules; while compliance officers may submit certain disclosures to the respective exchanges, they cannot be held liable for the contents of the disclosure," Joby said."It is important that a burden of a responsibility which does not exist in law ought not to be imposed and the scope and role of each position held in a listed company ought to be clearly defined," said advocate Zerick Dastur.
