UNDP China, CCIEE launch report to facilitate low-carbon development BRICS Generation Finance and Policy RELATED ARTICLESMORE FROM AUTHOR Featured image: Stock The Tanzanian government is set to embark on an ambitious project whereby three regions will be connected to 400kV transmission lines from the Mbeya region.Under the project, four towns of Sumbawanga in Rukwa region, Mpanda in Katavi region, Kigoma and Nyakanazi in Kagera will be connected to the power lines, Tanzania Daily news reported.According to the deputy minister for energy and minerals, Dr Medard Kalemani, the project to commence in Q4 2017 is expected to be accomplished in July 2019.“Rukwa region gets its supply of electricity from fuel and a little supply of power from neighbouring Zambia, which is not reliable … But once the 400kV project is accomplished, power interruption in the region will be history,” he said.Rural electrificationMedia reported that Dr Kalemani, revealed this after inaugurating the rural electrification Phase III (REA) in Rukwa region. Read more…The deputy minister said 111 villages in Rukwa region will be connected to electricity through REA Phase III.He further said that the exercise of connecting electricity through REA Phase III in the remaining 140 villages in the region will take off in March 2019 and that by 2020 all villages in the region will be connected.Kalemani also announced the local contractor, NAKURO Investment Company Ltd based in Dar es Salaam, which has been contracted to undertake the project.He directed the contractor to work around the clock to ensure that the project is accomplished in a period of 18 months, although scheduled for 24 months, media stated. Featured image source: Stock Low carbon, solar future could increase jobs in the future – SAPVIA AFD and Eskom commit to a competitive electricity sector Previous articleSAWEA encourages students to take opportunities in the wind sectorNext articleEskom Development Foundation supports drought relief Babalwa BunganeBabalwa Bungane is the content producer for ESI Africa – Clarion Events Africa. Babalwa has been writing for the publication for over five years. She also contributes to sister publications; Smart Energy International and Power Engineering International. Babalwa is a social media enthusiast.
Independent/Nicole Starr Castillo Share Independent/Nicole Starr CastilloHamptons Lifeguard Association’s junior and adult groups can hang with the best of them.The participants returned from last week’s United States Lifesaving Association national competition with top-place finishes, some boasting multiple medals.Standouts included Emma Hren’s first-place finish in the distance run for 14 to 15-year-olds, and Corrina Castillo’s and Colin Shaefer’s tie for third. Brodie Schneider finished third in the distance run for 12 to 13-year-olds. In the distance swim, Sophia Swanson placed third in the under-19 bracket. She also placed third in the same division in the ironguard and the run-swim-run, and came in second in the board rescue race open with Amanda Calabrese. Calabrese placed first with Molly Mamay in the 4×100 relay open.Other first-place finishers included Ryan Paroz in the surf-ski-race open, and Nicky Badilla and Tenzin Tamang in the rescue relay for 14 to 15-year-olds.Liam Knight placed first in the ironguard for 11-year-olds, as did Daisy Pitches for nine-year-olds. Lyla Metz crossed the finish line second for 10-year-olds. Pitches also placed second for nine-, 10-, and 11-year-olds in the board race. Luke Castillo came in second in the same event for 12 to 13-year-olds.Pitches was also a member of the nine, 10, 11 swim relay that came in third. Knight, Ginger Griffin, and Elizabeth Daniels rounded out the quartet. Calabrese also came in second in the open beach flags. Bella Tarbet finished second and Jack Duryea third in the under-19 division. Julia Erickson claimed second for 14-year-olds and Colin Schaefer second for 15. Castillo came in third for 12-13, Luke Rossano second for 11-year-olds, Even Schaefer first for 10-year-olds, and Myla Schneider second for [email protected]
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Two international firms in Venezuela have indicated that they have no plans to cease practising in the country, despite high profile exits from the troubled South American nation.The Gazette understands that both Clyde & Co and Baker McKenzie will continue to operate and have no plans to leave. In the past year both Hogan Lovells and Norton Rose Fulbright have left.Venezuela has been ravaged by hyper-inflation and food shortages and its currency, the Bolivar, has been rendered near worthless. Further, the US and more than 20 other nations have recognised president Nicolas Maduro’s opposition Juan Guaidó as interim president.Hogan Lovells announced its departure from Caracas in May last year and last week Norton Rose Fulbright also departed citing ’challenging market conditions’.Norton Rose’s base in the country was snapped up by international behemoth Dentons which said it had agreed to create Despacho de Abogados miembros de Dentons, S.C.
Quantenna announced that they have achieved over 2Gbit/s total throughput for Wi-Fi network performance. This was attained by connecting multiple laptops with commercially available Intel Wireless-AC 9260 2x2AC MIMO wireless modems to a Quantenna-based 8×8 MIMO access point and utilizing the latest Wi-Fi features such as multi-user MIMO (MU-MIMO). This significant breakthrough demonstrates once again Wi-Fi’s constant evolution and the importance of performance optimization and interoperability testing. Users globally benefit from reliable high-performance connectivity which enables simultaneous use of demanding applications such as video streaming, online gaming, or remote cloud access.Quantenna’s Wi-Fi 6 QSR10GU-AX Plus chipset provides integrated dual-band, dual-concurrent 2.4GHz, and 5GHz functionality, supporting up to a maximum speed of 10Gbps and 12 simultaneous streams. It includes the SmartScan feature that offers enhanced radar detection and spectrum analyzer capabilities with wide frequency range analysis. The QSR10GU-AX Plus also supports advanced MU-MIMO schemes, allowing for transmission to multiple devices at the same time. The Intel Wireless-AC 2X2 160 MHz delivers Gigabit Wi-Fi speeds and includes two antennas for reliable connections, making it possible for users to experience smooth gaming and 4K UHD video streaming, and fast file transfers and backups on their devices. Click here for more information.
New players will be needed by all inter-county teams for 2020 and so a good share of new players will feature for Tipp and Clare on today’s panel according to Clare selector Ken Ralph.The All Ireland champions and a new look Banner side go head to head at MacDonagh Park Nenagh in the Munster league opener.Clare selector and Moycarkey Borris native Ken Ralph told Tipp FM sport his side have now cast the net wide to find new players.Throw-in is at 2 o’clock today in Nenagh and we’ll have live commentary here on Tipp FM in association with Sullivan Family Butchers, Brooklands, Nenagh.
13 November 2013Prospects for strong and sustainable growth in Africa are looking positive, with the continent now being better managed, Reserve Bank Deputy Governor Daniel Mminele told the second Institute of International Finance Africa Financial Summit in Johannesburg this week.Africa’s resilience to the financial crisis can be partly explained by the rise in commodity prices, said Mminele.“Africa has been increasingly better managed, with the improvements in governance helping to promote an overall conducive environment to growth and development. There has been a steady rise in the contribution of domestic demand to gross domestic product [GDP],” he said.Mminele said central banks could make a meaningful contribution to growth by keeping inflation in check and creating an environment of financial stability.“While most of the structural reform imperatives fall outside the mandate of central banks, I believe that central banks, by keeping inflation in check and creating an environment of financial stability, can make a meaningful contribution.”Mminele said that to be effective in Africa, central banks had to fulfil more traditional roles: “Monetary policy can only play a facilitating role in enhancing the productive capacity of the economy.”Structural changeMany African countries are experiencing a rapid growth in the middle class. Estimates by the African Development Bank show that consumer spending by the continent’s middle class reached US$680-billion and accounted for 25% of Africa’s GDP in 2008. This figure is projected to reach $2.2-trillion by 2030.“On the supply side, the rise of the services sector has been one of the defining characteristics of the structural change in African economies,’ Mminele said. “Telecommunications, banking and the retail sector have been flourishing in many countries.“This has contributed to the improvement in Africa’s growth prospects which, in turn, has attracted the attention of foreign investors.”Africa is regarded as an attractive investment destination by multinational investor groups that are keen to benefit from intra-Africa trade opportunities. Many investors that already have operations in Africa are looking to expand their footprint.“As expected, multinationals from South Africa have seized the opportunity to expand their production networks across the continent. The number of projects in Africa originating from South Africa has increased by over 500% in the past decade,” said Mminele.Between 2010 and 2013, South African multinationals made foreign direct investments (FDI) investments in 18 African countries. In 2012, South Africa invested in more new FDI projects in Africa than any other country in the world.However, infrastructure, education and training remain the key challenges for the continent, Mminele said.Source: SAnews.gov.za
Technologies like business analytics and Big Data are increasing the amounts of data that business need to store. For example, Syed Masroor, Head of technology and solutions at NetApp India, recently told ComputerWorld that Netapp has always “firmly believed that the entire datacentre will revolve around the storage system. And we are right today.”But heavy demand for increasingly more storage is putting a high stress on IT budgets. In order to allocate more storage, businesses are being forced to spend more money on new storage. And that in turn is forcing IT managers to be more creative in utilizing existing resources.The main tactic being deployed by IT managers is more efficient utilization of existing storage. The top three tools being used by IT managers include:Data compressionDeduplication, andStorage VirtualizationNatalya Yezhkova, research director, Storage Systems at IDC, said that our “research shows that the increased use of storage efficiency technologies is one of the major contributing factors in the slowdown of storage capacity shipments over the past 12 months. As awareness of these technologies increases, storage vendors should be ready to deliver a variety of technologies to the whole spectrum of customers, from large businesses all the way down to small companies.”
MGR’s Popularity I read with interest your report on M. G. Ramachandran. Many top leaders as well as the Tamil newspapers criticize him. But, he is the most popular man in Tamil Nadu. It is foolish to think that he has reached the top in the political firmament, simply because,MGR’s Popularity I read with interest your report on M. G. Ramachandran. Many top leaders as well as the Tamil newspapers criticize him. But, he is the most popular man in Tamil Nadu. It is foolish to think that he has reached the top in the political firmament, simply because he is a film star. He is sincere and earnest, and will be able to achieve something, given the time. Under the circumstances, it would be only fair to allow him a full term of six years before arriving at any conclusion about his achievements. Hassar S. P. Raman The “air of mystery and aura of secrecy” that surround this celluloid politician, and which seem to have impressed your correspondent very much, are essential for him to keep up his triple image of an actor, politician and philanthropist. He is known primarily through his films. The simple, illiterate people who see his films believe that he is a “hero” in real life too. And it is from such people that he gets 90 per cent of his votes.Madras J. Padma Sunil Sethi’s revelations of M. G. Ramachandran’s personal background (India Today, August 1-15) seem to be guesswork. MGR did not come from a poor Tamil family, as Sethi claims. His mother, Sathabhama (his studio ‘Sathya’ was named after her), belonged to a poor family of Vadakanyapuram in Palghat District in Kerala. He and his brother, M. G. Chakrapani. (also an actor), spent their childhood in Ceylon, where their father worked.advertisementWhen their father retired, they returned to their village. It was after the death of their father that the two brothers came to Madras. Then began MGR’s Tamil Nadu connection. New Delhi K. Mahendra Menon Rajneesh Clarified Two points in your report on Bhagwan Shree Rajneesh (India Today, August 1-15) and his ashram in Poona need clarification. First, Bhagwan Shree does not have a bank account, nor does the have anything to do with the ashram’s finances. All business is handled by the Rajneesh Foundation-a charitable trust established in 1974-to provide a platform from which Bhagwan Shree can work directly with large numbers of people.Secondly, not every new sanyasi is assigned therapy groups by Bhagwan Shree; it depends totally on the needs of the individual. For example, it is very unusual for Indian sanyasis to be assigned groups, because such techniques are alien to their social conditioning and culture.Poona Krishna Prem Minhaz Merchant has touched the core of controversy around Rajneesh in the first objective resume in any Indian publication about this superguru. As expected, lots of my friends have memorized the paragraph on therapy where Merchant quotes a 21-year-old German girl as saying that sex “just happens”, and they keep flinging it at me. I wish he had mentioned that only Europeans are allowed to go in for group therapy which is held in camera and non-participants are not even allowed to peek at what’s going on. Nairobi Kul Bhushan It was disconcerting to read the views of Shree Rajneesh and Anand Murtiji. They preach no religion. Their beliefs in acts of repression and achieving objectives through violent means are unheard of in the doctrines of the world’s greatest religions which are based on love, benevolence, piety, faith, peace, and non-violence.The tenets of these two spiritual leaders are in fact a negation of the eternal values of existence which have inspired men through the ages. Shree Rajneesh and Anand Murti’s spiritual values and ethical norms seem distorted. They see normal religious faiths through jaundiced eyes. Calcutta Bhaskar Sen This Sporting Life I fully agree with Shivnath Singh’s statement about money and fame not being in athletics (India Today, August 1-15). However, taking into account the glamour attached to any sport, athletics is far down on the list. Games like cricket and tennis in the country are played throughout the year.Our leading cricketers keep themselves busy with Test matches, while tennis players have their hands full with Wimbledon and other international tournaments in the USA. Athletics, on the other hand, is restricted to a few major meets like the Commonwealth Games, Asian Games, and the Olympics, all of which are held once every four years. Kerala Sanjai BanerjiAdvice To Swamy Subramaniam Swamy’s criticism of the Boothalingam report (India Today, August 1-15), makes interesting reading. In the 1880s, Major Powell submitted a settlement report on Alwar State. At the beginning of this century, Sir M. O’Dyer submitted another settlement report. He asked his second-in-command about his views on the report. The reply was that it was excellent, and much better than the former one. O’Dyer smiled and said that this was incorrect, because Major Powell created something out of nothing, whereas he only improved on the first report. His was, therefore, a second-hand report.advertisementOur advice to Swamy is that he should resurrect the Boothalingam report from the dustbin, and try to improve upon it, rather than describe it as “trash”.Jaipur R. Shivpuri Workings Of CBI The cover story “Emerging from the Shadows” (India Today, July 1-15) in which laurels have been showered on the working of the CBI, makes interesting reading. It will, however, be in the fitness of things if the records are put straight to enable your readers to know where this agency stands.The CBI initially established a reputation for fair investigation without resorting to false evidence. But, during the past decade or so, political pressures began influencing the organization. It is wrong to say that the CBI has now made a remarkable recovery. The facts are otherwise, and the CBI officials still dance to the tunes of politicians. Jaipur S. L. Talwar Foreign Cars You reported that the Mercedes (1977 Model 280 SE) has been bought by industry tycoon K. K. Birla and that “Birla is believed to have paid a Rs 2 lakh deposit to clinch the deal” (India Today, July 1-15).I would like to inform you that your story is incorrect and that no offer, direct or indirect, has been made by Birla for the car, not to speak of having paid a deposit of Rs 2 lakh “to clinch the deal”. Birla is content to ride in an Ambassador or some other car of moderate value rather than throw away over a million rupees, which is seven times the original price of the Mercedes. Calcutta K. L. Sharma, Secretary to K. K. Birla
In Tiruchirappalli, a loadman attempted to commit self-immolation during a demonstration organised to press for conducting jallikattu. Police said they foiled the suicide bid and arrested the man. In Pothamettupatti village in the district, jallikattu was organised with 15 bulls being let into the ground and several youths taking part in the event. However, police said the bulls were just let out freely and there was no taming sport at all. PTI CORR SSN VS VS
Are you looking for a thrilling career in the sports industry? Touch Football Australia (TFA) is seeking suitably qualified applicants for the position of Competition and Events Coordinator based in our ACT branch office, Canberra. Applications for this opportunity close at 5pm AEDST on Wednesday, 15 January 2014. Please find attached the Position Description. For further information or to lodge your application, please email [email protected] Related Filessops_competitions_and_events_oct_2012-pdfRelated LinksPosition Vacant
Arsenal eye swoop for Torino defender Nkoulouby Freddie Taylor10 months agoSend to a friendShare the loveArsenal are eyeing Torino centre-back Nicolas Nkoulou, according to Calciomercato.Emery wants the Gunners to invest in defenders this month, with Hector Bellerin, Rob Holding and Konstantinos Mavropanos all sidelined.Nkoulou, who can also play as a defensive midfielder, has emerged as their top target after an impressive season in Serie A.The Cameroon international could be available for £12million, although Torino would be reluctant lose one of their most important players.He is under contract until 2020. TagsTransfersAbout the authorFreddie TaylorShare the loveHave your say
Maryland’s men’s basketball program announced Monday evening that star freshman guard Melo Trimble suffered a concussion against West Virginia. The Terrapins’ guard hit his head twice during his team’s NCAA Tournament third round loss to the Mountaineers in Columbus; first on this legal-but-clearly-illegal moving screen and, later, when teammate Damonte Dodd accidentally kicked him in the head. After the first collision, Maryland’s doctors checked him for systems, but he passed all tests and was placed back in the game. After the second hit, he did not pass the necessary tests, and was rightfully forced to sit out the remainder of the game. Maryland’s Melo Trimble suffered a concussion in Sunday’s game vs. WVU, but doctors cleared him to fly home with team, per UMD spokesman.— Don Markus (@sportsprof56) March 23, 2015While Trimble’s removal from the game clearly played a big role in Maryland’s season coming to an end, it’s nice to see an athletic team take the necessary precautions when dealing with a potentially-concussed player. Trimble and the Terps should have a chance to make some serious noise in the NCAA Tournament in 2016.
Finland-based ro-ro and passenger services operator Finnlines has taken delivery of its first lengthened Breeze vessel from Remontowa S.A. shipyard in Gdansk.MS Finntide, delivered in 2012 from the Chinese Jinling shipyard, arrived in Gdansk on September 25, 2017. As planned, the vessel was cut in two and a 30-metre section was inserted between the parts. The sections were welded together again, and around 1,000 additional lane metres were added to the vessel’s capacity.Finnlines said that the close to 30% capacity increase will considerably reduce the energy consumption per transported unit compared to the original vessel.“In other words, it will improve energy efficiency further and thus contribute more to reducing emissions,” the company added.After the modification, MS Finntide is 217.77 metres long and has a capacity of 4,213 lane metres. In practice, around 1 km of trucks more per ship can be hosted on board.MS Finntide‘s lengthening is part of Finnlines’ Energy Efficiency and Emission Reduction Investment Programme, which was launched this year. Through this EUR 70 million investment programme, the company will lengthen four of its “Breeze series” ro-ro vessels with options for two more ships. The whole lengthening programme is planned to be completed by May 2018.MS Finntide is set to return to the normal operation on Uusikaupunki/Turku–Travemünde route on November 26, 2017. The next vessel to be converted leaves for the shipyard on November 28, 2017.“Finnlines has continued to invest in its fleet to become a more environmentally friendly and a more sustainable shipping company. We continue to optimise our operations and seek for growth in order to strengthen our competitive position. In response to growing demand, we are expanding our fleet capacity through this lengthening programme. This way we can serve our customers better and grow together with them,” says Tom Pippingsköld, CFO of Finnlines.Image Courtesy: Finnlines, Remontowa; Video Courtesy: Finnlines
Ludhiana: Chief Minister Amarinder Singh on Saturday expressed confidence that the Congress will win all the four assembly bypolls in Punjab and said it is the only party that can ensure the state’s development Bypolls in Phagwara, Jalalabad, Dakha and Mukerian assembly seats will be held on October 21 and results will be declared on October 24. The party is prepared to fight the bypolls and its campaign will revolve around the state government’s progressive and welfare schemes, he told reporters at the inauguration of a two-day Kisan and Pashu Palan Mela here. Also Read – 2019 most peaceful festive season for J&K: Jitendra Singh “The people of Punjab will once again put their seal of electoral approval on the Congress, which has proved itself in the last two and a half years of governance in the state. It’s the only party equipped to ensure the development of Punjab,” the chief minister asserted. He said the people of the state will reject the regressive and divisive politics of opposition parties. The bypolls are likely to witness a three-cornered fight among the AAP, the SAD-BJP combine and the ruling Congress which is looking to maintain its winning momentum in Punjab. Also Read – Personal life needs to be respected: Cong on reports of Rahul’s visit abroad Responding to a question on service charges of USD 20 per head proposed by Pakistan for Kartarpur Corridor pilgrims, Singh said he has urged Prime Minister Narendra Modi to get this “jaziya” abolished to ensure “Khulle Darshan Didar”. ‘Jaziya’ was a tax imposed on non-Muslims in earlier times. The Kartarpur Corridor, which is being constructed at a fast pace on the Indian side, aims to provide easy access to devotees of Sri Guru Nanak Dev and this Pakistan should respect, he said. Earlier, the chief minister appealed to farmers not to resort to paddy stubble burning, as a mark of respect to the first Sikh Guru, whose 550th Prakash Purb will be celebrated in November. Happy Seeding machines are being distributed by the Punjab government and these will not only help in stubble management but also ensure increased productivity for farmers, he added. The theme of the Kisan Mela has been chosen from the sacred ‘bani’ of Guru Nanak Dev’s ‘Pawan Guru pani pita mata dharat mahatt’, Singh said. The burning of paddy stubble poses a major environmental threat, besides damaging the texture of soil and human health, the chief minister cautioned. He called upon farmers to take full advantage of subsidised straw management machinery. These are being provided at 50-80 per cent subsidy. The state government has provided 28,600 implements worth Rs 269.38 crore to farmers during 2018-19 and an amount of Rs 273.80 crore would be incurred for about 28,000 implements for the management of paddy straw during the current 2019-20 fiscal, Singh said. He also announced that the state government will develop a sugarcane research and training institute at Gurdaspur, besides establishing an agricultural market innovation research and intelligence centre at Mohali. The centre will provide necessary support and assistance to farmers in marketing their diversified crops, the chief minister said. Addressing farmers gathered at the Mela at the Punjab Agriculture University, Singh stressed on the need to switch to crop diversification to conserve depleting ground water. The state has already developed a diversification plan to shift nearly 10 lakh hectares from rice to alternative, less water intensive crops, he said. Listing the initiatives for crop diversification, Singh said a state-of-the-art Indian Institute of Maize Research was being set up at Ladhowal, while a Postgraduate Institute of Horticulture Research & Education was coming up at Amritsar.
Hong Kong: Hong Kong’s embattled leader said Tuesday more than 20,000 people have applied to take part in a dialogue session with her and “vent their anger” at the government after three months of huge pro-democracy protests. It is the government’s first attempt to reach out to the protestors since millions took to the streets in the biggest challenge to China’s rule since the city’s handover from Britain in 1997. Hong Kong Chief Executive Carrie Lam said Thursday’s meeting would be an opportunity for people to have their voices heard but some protesters said they were not interested as their demands are already clear. Also Read – Saudi Crown Prince Salman ‘snubbed’ Pak PM Imran, recalled his private jet from US: Report “We have promised that participants from different background, with different political stands could express their opinions freely, even vent their anger,” Lam said. While thousands have applied, just 150 people will be chosen at random to attend the two-hour session with Lam, and protest equipment such as umbrellas, helmets and gas masks will not be allowed. “I hope the community dialogue could be held in a peaceful, rational and calm environment,” Lam said. Also Read – Iraq military admits ‘excessive force’ used in deadly protests Hong Kong has entered a 17th week of political unrest which seen hundreds of rallies, some of which ended in violent clashes between police and protestors. More than 1,500 people have been arrested, the youngest aged 12. Lam said she felt “heart-ache” seeing children being arrested and asked “how well can children understand the current political issues?” “Here I need to urge parents, teachers and principals must let children know that political problems are not that simple,” Lam added. Her remarks drew criticism from opposition legislators. “You never under-estimate the young’s voice,” pro-democracy lawmaker Claudia Mo said. “Many young people these days are very mature-minded and they knew perfectly what they are thinking… and what a civilised society should be.” The protests were initially against a bill that would have allowed extradition to China, but have snowballed into wider calls for democracy and police accountability in the semi-autonomous city. Video emerged over the weekend of officers kicking a detained man wearing a yellow shirt in an alley. At a press conference Monday a senior police officer suggested it was not clear the “yellow object” was a man and claimed the video might have been doctored, sparking ridicule online. Higher resolution footage of the same incident shows a man on the ground, surrounded by police, one of whom kicked him. Police have repeatedly denied using excessive force and Lam insisted they had exercised restraint. “The fact that over three months, we have not seen major fatalities in Hong Kong, by world standard … it is quite remarkable,” Lam said.
Mumbai: The National Company Law Tribunal (NCLT) Wednesday directed the financial creditors of the grounded Jet Airways to release some interim lifeline funds within 15 days. The lenders had in-principle sanctioned Rs 63 crore to the RP and SBI, the lead lender, had reportedly already disbursed its portion of Rs 10 crore. However, other lenders like Yes Bank, Punjab National Bank, IDBI Bank, Bank of India, Indian Overseas Bank and Axis Bank are yet to release their portion. Also Read – Commercial vehicle sales to remain subdued in current fiscal: IcraTherefore the tribunal has directed these lenders to release the amount within 15 days. The RP of Jet Airways had moved NCLT on September 20 seeking directions to the lenders, who own 51 percent in the airline since March, to release interim funds. The lenders had earlier approved to sanction Rs 63 crore in interim funding to meet the day to day needs and also the fees for the RP. The RP had informed the tribunal that if the interim financing is not done timely, the corporate insolvency resolution process would come to a halt. Following this the lenders, who own 51 percent in the bankrupt company with no business or revenue, had approved interim financing measures in its previous meetings.