Many investors park their surplus money in debt schemes in an attempt to earn higher returns than Bank FDs. However the recent incident of Franklin Templeton MF winding down six of its debt schemes has dented investor sentiment and sparked speculation about the safety of their investments.

The news came as a shocker to the investors because the six schemes, the fund house, and the fund manager had a good performance record. Investors in the wound up debt schemes of FTMF are now left with no choice but to wait for the fund house make repayments.

If you are one of them, surely you want to know about the timeline of payouts from the respective schemes.

Here is what you should know first...

Before returning the money to unitholders, the fund will have to repay the borrowings by the respective schemes that was taken to fund the heightened level of redemptions. Keep in mind that the repayment of borrowings does not impact the value of money to be returned to the unit holders, though it can delay the start of pay out to unitholders.

The repayment of the borrowings that the fund has taken, along with the cash flows it receives in the respective schemes based on the maturity of the underlying securities in the portfolio as well as coupon receipts will determine the payout to the unitholders.

Moreover, the fund will seek pre-payment from issuers of the underlying securities and will look to sell portfolio holdings in secondary market at fair value.

Table 1: Maturity profile of wound up FTMF schemes

Franklin India Ultra Short Bond Fund (FIUBF) and Franklin India Low Duration Fund (FILDF) are the schemes with shorter maturity. If you are an investor in this scheme, you may expect a significant payout within 2-3 years. However, to recover the entire amount you may have to wait up to 5 years.

If you are wondering why a scheme with average maturity of just 0.44 years and 1.45 years will take around 5 years to repay the entire amount?

This is because the maturity of some underlying securities is much longer (around 4-5 years), even though the schemes belong to low duration category. Additionally, the schemes have borrowings in the range of 6.5% and 8.5% respectively, which have to be repaid first.

Whereas, if you are an investor in Franklin India Dynamic Accrual Fund (FIDA), Franklin India Short Term Income Fund (FISTIP), Franklin India Credit Risk Fund (FICRF), and Franklin India Income Opportunities Fund (FIIOF) your wait will be longer. These schemes primarily invest in medium to long duration securities.

These funds had to sell a number of their short term and liquid securities in the portfolio to meet redemptions. Hence, to get a significant payout from these schemes you will have to wait at least 4-5 years. The year wise expected cumulative cash flows is given in the table below.

Notably, FIIOF is the longest duration fund from among the six funds that have been wound up. It will only be able to repay a very small portion (5%) in the next two years.

Another key reason that could delay the payout from these schemes is the high borrowing rate. FISTIP has 28% of its assets as borrowings, FIIOF has 26%; while FICRF also has significant 16% as borrowings. Furthermore, factors such as credit issues or payment delays faced by any of the investee companies could negatively impact cash flows.

Table 2: Cash flows expected by FTMF across different time period

Many of the securities with longer maturities have regular interim cash flows and features such as interest rate resets or call/ put options, which significantly reduce the effective maturity and the same has been factored into the calculation of the Macaulay Duration.

FTMF said that it would actively explore opportunities with a goal to facilitate repayment prior to the maturity of the portfolio investments. To do this it will seek prepayment from the issuers of the underlying securities and look to sell the securities in the secondary market.

However, the current market scenario is rife with risk aversion and illiquidity. The fact that wound up schemes have high holding of lower rated securities, FTMF will have to wait for the market conditions to go back to normal to liquidate the portfolio at the earliest, without causing value erosion for investors.

[Read: RBI Steps in to Take Some Pain Off Mutual Funds. Will It Help?]

Way ahead for debt fund investors

Keep in mind that debt funds are not risk-free. Investment in debt funds carry various risks relating to liquidity, credit quality, and interest rate. Therefore, before investing in debt funds understand the various risks involved and invest in schemes where the portfolio risk aligns with your own risk appetite and financial objective.

In this market environment, it would be preferable to invest in instruments issued by government and public sector enterprises, and stay away from those having high exposure to private issuers.

At PersonalFN, we arrive at top rated funds using our SMART Score Model. If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

Author: Divya Grover

This article first appeared on PersonalFN here.

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

World No. 2 tennis star Rafael Nadal's wife Maria Francisca Perello has revealed that the media often misreport her name and date of birth.

Mrs Nadal indicated that Mery is her real name. Also, her birthday is not on July 7.

Mery has always stayed away from the media glare, but remains in the news for being Rafael's better half.

In a recent interview to Spanish daily La Vanguardia, she said: "Well, nobody around me calls me Xisca. And my birthday is soon, I will surely spend it in confinement. But it is not in July. There is still a little time left…" she was quoted as saying by essentiallysports.com website.

When asked about her interest in sports, she replied: "I exercise a lot, but always just for myself. Never seriously. I have played volleyball, done gymnastics, fitness and lately running. On vacation, I sometimes play paddle tennis with Rafael."

Mery, who is in self-isolation with Rafael in Mallorca, added: "We are confined like everyone else. We were very clear from Day One to train at home. We do rubber bands, push-ups, circuit…at least one hour a day in my case."

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

Representational picture

New Delhi: With beaches becoming the most preferred honeymoon destination, pack in funky and colourful tassel jewellery and chunky anklets, suggest experts. Nishant Tulsiani, director at Anaqa and Radhika Chitalia, designer at Joules by Radhika, have given inputs:

Your beach jewellery has to always be colourful to go with your swimwear, sarongs and the beach wear. For evening parties, you should go for some nice earrings with tassels in various colours. Always remember to wear light weighted jewellery.

A fine fusion of trinkets like sleek pendants and striking danglers in geometric shapes can be paired with both denims and sundresses and is always a good recommendation.

Chunky anklets in both silver and gold perfectly accessorise your feet when paired with your favourite flip-flops while on a beach with your partner.

Out of the huge variety available, layered neckpieces are an ideal companion for your honeymoon. They can be worn for a casual lunch or a formal night out with your husband.

Chic bracelets and bright coloured tassel earrings can also set the mood for a romantic outing with your beau.

Catch up on all the latest Mumbai news, current affairs from Mumbai, local news, crime news and breaking headlines here

Catch up on all the latest Mumbai, National and International news here

Download the new mid-day Android and iOS apps to get updates on all the latest and trending stories on the go

The content/reporting displayed on our website www.mid-day.com is provided "AS-IS," "AS AVAILABLE, by us from third party, agencies, sources, without any verification from our side. It may contain error, bugs and other limitations. The reader's can rely on the content at their own will. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability, data, text, images, video, messages, or any other material whatsoever or for any claims/loss/action that the reader may suffer as a result of relying on the content on our site. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

Indonesia is hoping for an "exponential" increase in tourist inflow from India and has set its visitor arrival target at seven lakh from the country in 2018, a senior official from the island nation has said. The country received 485,314 Indian visitors in 2017, which is nearly a 30 per cent rise from the year before, he noted.

With several low-cost airlines providing affordable deals between India and Indonesia, the island country is hoping to make the most of the opportunity, Pupung Thariq Fadhillah, the deputy director in the Ministry of Tourism, Indonesia, said during his recent visit to the city. "The exotic Bali island remains one of the most-favoured destinations for Indian tourists, over 50 per cent of whom enter the country through Denpasar airport in the island," senior tourism official DAL Janapriati said.

Seeking to offer 'Greater Bali' to the travellers, Fadhillah, who led a delegation from Indonesia to promote the country's tourism sector, said the country would also love to introduce ten more destinations to the Indians in the near future. Lake Toba, Tanjung Kelayang, Tanjung Lesung, Seribu Islands, the Borbodur, Bromo-Tengger-Semeru cluster are among the new hotspots in the Indonesian province, Janapriati said. "If we achieve the target of seven lakh tourist footfall from India, the country will rise to the fifth position in Indonesia's tourist footfall ranking, with Japan now at the top," she added.

An article he had read a little over two years ago changed Rohit Ingle's life forever. It espoused the cause of veganism so persuasively that Ingle says he was convinced overnight to give up eating meat. "I can't remember where I read the article," he confesses. "But it had a very simple line - if you are an animal lover, you can't eat them. If you love someone, how can you be the cause of their misery?" he adds.

Rohit Ingle while flagging off his journey from Ahimsa Fest this week. Pics/Sneha Kharabe

That message is what he now hopes to spread across the country, riding a cycle. Ingle embarked on his epic journey - and it can only be described as that - from Bandra on Thursday, a week ahead of World Vegan Day on November 1. The plan is to cover 19,000 km over one year, stopping not just at different state capitals, but especially in the hinterland. "Hardly anyone in India knows about veganism," he says, adding, "I'll pitch my tent at places like highway dhabas. There, I can interact with the customers and tell them more about what I am doing, hopefully inspiring some of them [to take up veganism] in the process."

Does he feel any apprehension? "Yes, I am nervous, I won't lie about that. But I am motivated by my cause. There are also people who will be there to welcome me at Ahmedabad and Surat initially, and that will hopefully give me further encouragement. So, as the journey goes by, I am sure this feeling will go away."

But, Ingle adds, he's not quite sure about how he will sustain himself financially to get through an entire year. "I have raised `60,000 [of his `3.5-lakh target] through crowdfunding. I have also received money from The Pollination Project, an organisation based in the US that has sponsored me for $1,000. So, I have around `1.3 lakh and can easily start my journey for at least three to four months."

After that, he hopes to keep going till November 2018, inspiring as many people as possible along the way. "See, the message is very simple - if you want to eat meat or wear animal products, an animal that doesn't want to die is definitely going to be killed. So, you have to keep that in mind."

When we reach a swish Bandra restaurant at the exact hour scheduled for lunch with Natalie Di Luccio and Mikey McCleary, we find Natalie already seated there. Mikey, though, hasn't arrived yet, and this leads to inevitable jokes about 'Indian Standard Time'. But to be fair to the New Zealander, he reaches only a few minutes later and immediately hits it off with Natalie, whom he knows from before. But the two haven't met in a while, their individual projects having kept them too busy to find the time. Mikey, 48, is a composer who dabbles in Bollywood projects such as Shaitan (2011) and most recently Ribbon, which released last month. Natalie, a 28-year-old Italian-Canadian, has made a mark in Bollywood too, as a playback singer in films like English Vinglish and Chennai Express. A Hindi video in collaboration with Raghu Ram is also just around the corner. She's recovered from an appendicitis operation only a few days ago, she tells us, and explores the menu with Mikey before they settle down for an engaging conversation.

Mikey McCleary and Natalie Di Luccio at a restaurant in Bandra West. Pics/Shadab Khan

Shunashir to Natalie: How did your relationship with India begin?
Natalie: Well, I remember I was in the library in McGill (a Canadian university where she studied) around 2009 and I had all my songs on Myspace at the time. I don't know if you remember Myspace?
Shunashir: I do remember it.
Mikey: Yeah, I do too.
Natalie: So this is then, okay? And I got a message on Myspace from someone from India, who said, "Hi, we'd like you to come to India and record on this fusion album on the chakras." But the whole thing didn't make sense to me at the time. So, I said, "Thanks; yeah, maybe one day." But I didn't know who that album was by. Long story short, they messaged me again and said, "Can you do some recording for us from Canada?" and I said, "Okay." Two months later, I get back home from school in Quebec and there's a CD in the mail; it's Sonu Nigam's Maha Ganesha album, which is what I sung for!
Mikey: Wow.

Shunashir: Yeah, wow. And how was it for you, Mikey?
Mikey: My relationship with India actually began because I was born here, in Chennai. My parents were missionaries in the country, in Andhra Pradesh. But anyway, let's fast forward. I moved to New Zealand when I was five years old, did my schooling there, got into music, moved to London and got a studio there. And one day, somebody knocks on the door of the studio, some Indian fellow, and says, "Hi, I'm your new brother-in-law." And this guy is Lucky Ali.
Natalie: Oh my gosh!
Mikey: Yeah, but he hadn't released anything then, so he wasn't known as a singer. He had come to do some sort of recording in Watford and said, "Can I come in and maybe, we can do some music together?" So, I said, "Okay, come back over the weekend," and that's how we recorded a couple of songs, Oh Sanam and Sunoh.
Shunashir: ...Which kind of changed the Indi-pop game at that point of time, at least in terms of videos.
Mikey: Right. And the Oh Sanam video was shot in Cairo, at the pyramids. And the woman who was dressed in the purdah, with everyone in India wondering who this person with blue eyes in Lucky Ali's big hit song is — that's my sister!
Natalie: That's so funny, and really cool.

(The food — poached pear and blue cheese salad, grand chicken Caesar salad, meatballs in creamy sauce and pizza American — arrives)
Mikey: Have you noticed how so many Mumbai menus suddenly have watermelon and feta salad?
Natalie: I think it's a Greek combination and you're right, it's everywhere now. But the pizza in Italy (which is where part of her family is from) is totally different from the one we get in Mumbai. They have less ingredients and the main thing is always the tomato sauce. You can tell the restaurant by its tomato sauce.

Shunashir: Have you not taken to Indian food?
Natalie: No, no. It's not that. But I am fonder of North Indian food because I find that it's a little sweeter in general, all your butter chickens and navratan kormas. And I think North Indian food is pretty much what you mean by Indian food elsewhere in the world, right?
Mikey: Well, do you know what the national dish in the UK is?

Shunashir: It used to be chicken tikka masala, but I'm not so sure about now.
Mikey: I think it still is. By "national dish" they mean the most commonly ordered dish in restaurants.
Natalie: I don't know why it is, but when I'm at home here, I don't like having cooked food as much. Maybe it's the weather?
Mikey: Yeah, it could be. You'll also see that countries that are hotter actually have more chilli in their food. That's because it's counter-intuitive. Chilli kind of cools you down, and brings the heat out.
Natalie: It's so funny how that works.

Catch up on all the latest Mumbai news, current affairs from Mumbai, local news, crime news and breaking headlines here

Download the new mid-day Android and iOS apps to get updates on all the latest and trending stories on the go

Pollak with a bagpipe made with rubber gloves

"This is my first time in India, so I'm very excited. I don't know much about the country. I plan to travel to Udaipur after performing in Mumbai," says Australian musician and instrument maker Linsey Pollak, 66, who is one of the speakers at the eighth edition of TEDx Gateway, to be held on February 4 in the city. He speaks about his love for creating music from the unlikeliest of objects.

The carrot clarinet

How did the idea of creating musical instruments with vegetables and household objects come about?
It all started at a performance called Out Of The Frying Pan many years ago. I was 19 then, and I created 40 different musical instruments out of various things. I wanted to use food, so I used a watermelon, carrots, and potatoes. The carrot clarinet, which has become popular over the years, came about because of a friend, who was putting up a concert, asked, "Can you come up with something new for the performance?" I put on my thinking cap and the shape of a carrot popped up. Though it wasn't a tube, it was a potential tube.

You have recorded 34 albums. Did any of those feature music played on the instruments you created?
The 34 albums have all been of different types of music. But the one that features these instruments is called Mrs Curly And The Norwegian Smoking Pipe. It was recorded in 2014. I played 15 different pieces on instruments that I invented - the saxcello, guidanet, glass-based clarinet, carrot clarinet, and an instrument I call the aluminium narrow bow clarini.

Is there a deeper message that you wish to convey?
Yes, there is a strong philosophy to what I do. And that is: there is music all around us, and we are all musicians. By showing people how simple instruments are and how they can make their own instruments, I encourage them to be creators of music rather than consumers.

What is your most bizarre creation?
I have done quite a few. Mr Curly is a contra-based clarinet with a deep, funky sound, because it's an amplified, electro-acoustic instrument. I guess the various vegetable instruments could be considered bizarre. For example, a potato with bamboo skewers stuck into it to create a kind of bass piano or bass kalimba. I have also created a bagpipe out of a condom. Some people might find that outrageous, but the sound is not.

Have you ever failed on stage?
We were in Switzerland for a performance. At a bio-dynamic farm and restaurant there, they asked if I could make a sound from a bio-dynamically grown beetroot. It was spectacularly unsuccessful. Also, once I was putting a bamboo skewer through a carrot, but it went right through the carrot, and into my hand. So, I had this embarrassing situation of blood pouring everywhere. I had to go off stage to get rid of the blood. There were also a couple of times when my rubber glove bagpipe burst.

What was the first sound from a regular object that caught your attention? How does one find music in the mundane objects?
I can't remember what the first sound was. One needs to have a sense of curiosity, not take things for granted and let go of expectations. All these are related.

What advice do you have for those who dare to dream different ?
I'm lucky to be making a living from doing something I love. That's because I knew what I wanted to do and followed that over the years. My advice is: just follow your dream. It's the journey that is important and not the destination.

What are your plans for your performance in Mumbai?
I will be using six instruments made from household objects; everything from dustpans and brooms to A4 papers. These instruments will be turned into clarinets. Rubber gloves will be used to play the bagpipe and irrigation pipes will be turned into pan pipes. I'll be combining these instruments using a process called live looping, where I record what I am doing. For example, I'm going to have a bass line that is played with the dustpan and the paper clarinet will be playing melody lines.

Catch up on all the latest Mumbai news, current affairs from Mumbai, local news, crime news and breaking headlines here

Download the new mid-day Android and iOS apps to get updates on all the latest and trending stories on the go

Gestational diabetes -- high blood sugar condition during pregnancy -- may cause early-stage kidney damage that can later lead to chronic kidney diseases among women, reported a study.

The study showed that women with gestational diabetes were more likely to have a high glomerular filtration rate (GFR) -- an estimate of how much blood per minute passes through the glomeruli, the tiny filters within kidneys that extract waste from the blood.

Women with gestational diabetes had more than triple the risk of an elevated GFR, which may precede the early kidney damage that accompanies pre-diabetes -- a condition with higher blood sugar levels but not high enough to be classified as diabetes.

"Our findings suggest that women who have had gestational diabetes may benefit from periodic checkups to detect early-stage kidney damage and receive subsequent treatment," said Cuilin Zhang from National Institutes of Health's Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD) in Maryland, US.

The study, published in the journal Diabetes Care, included data from 601 Danish women having gestational diabetes and 613 non-diabetic women.

The results showed that women who had gestational diabetes and later developed diabetes were approximately nine times more likely to have an elevated GFR later in life, compared to women who did not have gestational diabetes.

They were also likely to have an elevated urinary albumin to creatinine ratio (UACR), which is an indicator of kidney disease.

The study could not prove that gestational diabetes causes kidney damage, and the authors noted that more research is needed to confirm their findings.

Catch up on all the latest Mumbai news, crime news, current affairs, and also a complete guide on Mumbai from food to things to do and events across the city here. Also download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

The Russian Government is reportedly considering the introduction of a number of new taxes, including a tax on hotel stays.

They insist for standing instruction facility for debiting annually.How safe is this ? Normally we are advised by bankers to authorize every time and giving this sort of standing instruction ...will it not amount to a blank cheque?..

South Africa pacer Dale Steyn has revealed his favourite bowling spells. Steyn was doing an #AskDale session on Twitter and a fan asked him about his best spells in international cricket. The Proteas pacer replied: Nagpur (7 against India) and Wanderers (6 against Pakistan). Steyn picked up a seven-wicket haul against India at Nagpur in 2010 in the first Test of the two-match series.

His exploits helped South Africa defeat India by an innings and 6 runs. Steyn achieved the feat in the first innings after Proteas put up a mammoth score of 558/6. Steyn picked up the wickets of Murali Vijay, Sachin Tendulkar, S Badrinath, Wriddhiman Saha, Harbhajan Singh, Zaheer Khan, and Amit Mishra to finish with figures of 7-51. In the Test match against Pakistan at Johannesburg, Steyn finished with figures of 6-8 in the first innings to bundle out the opponents for just 49. Steyn picked up the wickets of Mohammad Hafeez, Nasir Jamshed, Younis Khan, Sarfaraz Ahmed, Saeed Ajmal, and Rahat Ali.

In the second innings against Pakistan, Steyn took five wickets and South Africa won by 211 runs. Steyn announced his retirement last year from red-ball cricket, which he termed as the ultimate form of the game. Explaining his decision, Steyn said that it was in the best interest of prolonging his career. He continues to remain available for South Africa in both One-Day International and T20 cricket. The fast bowler represented South Africa in 93 Tests and took 439 wickets at an average of 22.95. Steyn became the leading wicket-taker for his nation in the longest format after he went past Shaun Pollock in 2019.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

VVS Laxman speaks about Sachin Tendulkar’s batting against Shane Warne on Star Sports’ show Cricket Connected: “Sachin was really well prepared for the Test match in Chennai. In the first innings, he was dismissed for 4 runs. He hit a boundary and then tried to play a big shot over mid-on, hitting against the turn and was caught by Mark Taylor.

VVS Laxman went on to reveal saying, "I remember Sachin locked himself in the physio’s room and only came out after almost an hour. When he came out, we could see his eyes were red. I felt he was very emotional because he was unhappy in the manner he was dismissed."

VVS Laxman continued, "Then, in the second innings, the way he blasted and hammered Shane Warne, who was bowling into the rough outside the leg stump. Warne was using the depth of the crease and when he used to pitch it up, Sachin used to hit it through the mid-off, mid-on region. He went on to get a hundred. That battle with Shane Warne is the best I have seen.”

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

On Wednesday when the world came together to mourn the death of veteran Bollywood actor Irrfan Khan who died with a colon infection, Yuvraj Singh, who had also made a return from cancer before finally calling curtains on his illustrious career in 2019, opened up about his struggle against the dreadful disease. Talking about it, Yuvraj Singh took to Twitter to say he 'knew the journey and the pain' well enough and paid tribute to acclaimed actor Irrfan Khan.

"I know the journey I know the pain and I know he fought till the end some are lucky to survive some don't I'm sure you are in a better place now Irfan Khan my condolence to your family. May his soul rip," Yuvraj, who starred in India 2007 T20 and 2011 ODI World Cup wins, said Yuvraj on Twitter.

I know the journey I know the pain and I know he fought till the end some are lucky to survive some don’t I’m sure you are in a better place now Irfan Khan my condolence to your family. May his soul rip

— yuvraj singh (@YUVSTRONG12) April 29, 2020

Yuvraj Singh later posted a video of Irrfan Khan from one of the advertisements he appeared for which is quite inspirational and resonates at a time like this. Yuvraj also wrote, "This clip seems like a fitting tribute to the man who thought and inspired so many out there that success is not a hand down, and that if you worked hard enough you will shine against all odds coz talent and hardwork always prepares ordinary people for an extraordinary journey."

This clip seems like a fitting tribute to the man who thought and inspired so many out there that success is not a hand down, and that if you worked hard enough you will shine against all odds coz talent and hardwork always prepares ordinary people for an extraordinary journey. pic.twitter.com/OV6V5sfUSr

— yuvraj singh (@YUVSTRONG12) April 29, 2020

Irrfan, who had been admitted in Mumbai's Kokilaben Dhirubhai Ambani hospital with a colon infection, since Tuesday, passed away on Wednesday morning.

The actor has been ailing ever since he was diagnosed with neuroendocrine tumour a while back, and has been under medical attention for the same. He even went abroad for treatment.

Ever since the news of his untimely demise broke on social media, various people from all walks of life came together to pay homage to the late Irrfan.

Besides Yuvraj Singh, other sports stars such as Virat Kohli, Sachin Tendulkar, Saina Nehwal, Sunil Chhetri and Virender Sehwag also took to the micro-blogging site to pay homage to the 'Life of Pi' actor.

Irrfan Khan last appeared in the 2020 Bollywood film Angrezi Medium alongside Kareena Kapoor Khan, Deepak Dobriyal and Radhika Madan.

Inputs from IANS

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

Batting maestros Sachin Tendulkar, Virender Sehwag and Virat Kohli have made a cut to former Australia batter Michael Hussey's "Best Enemies XI" in Test cricket.

Hussey picked Sehwag and former South African captain Graeme Smith as openers in the batting line-up which consists stalwarts like Brian Lara, Tendulkar, Kohli, Jacques Kallis and Kumar Sangakkara.

The bowling unit included South Africans Dale Steyn, Morne Morkel, England's James Anderson and legendary Sri Lanka spinner Muttiah Muralitharan.

The left-handed batsman, who played Test cricket for Australia from 2005 to 2013, however didn't included his former Chennai Super Kings teammate MS Dhoni.

"I wrestled with this one between Kumar Sangakkara, MS Dhoni and AB de Villiers. But I think the latter two have got more impact in the shorter formats T20s and ODI," Hussey said while picking the Best XI of opponents he has played against in Test cricket on "The Unplayable Podcast".

"Sangakkara had immense impact in Test cricket," he added.

Hussey played a total of 79 Tests, 185 ODIs and 38 T20Is in which he scored 6235, 5442 and 721 runs respectively.

Michael Hussey's 'Best of Enemies' XI: Virender Sehwag, Graeme Smith, Brian Lara, Sachin Tendulkar, Virat Kohli, Jacques Kallis, Kumar Sangakkara, Dale Steyn, Morne Morkel, James Anderson, Muttiah Muralitharan.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

Kumar Sangakkara and Brett Lee were the only overseas players that made it to veteran South African pacer Dale Steyn's best XI of players he has faced or played with.'

Interestingly, the team included his "school bowling partner", "best friend" and his "club captain," Cricket South Arica said in its tweet.

Steyn picked his former South African skipper Graeme Smith and former Sri Lankan captain Sangakkara as openers. Jacques Kallis, widely rated as one of the greatest all- rounders of all time, slots in at no.4 while Jhonty Rhodes comes in at no.5.

Wicketkeeper and current South African limited overs skipper Quinton de Kock came in at no.6.

Australia's Lee, former South African spinner Paul Harris and Proteas fast bowling great Allan Donald made up the bowling department.

A notable omission from Steyn's XI is AB de Villiers, with whom he played most of his international matches with and was considered among the batsmen in the world throughout his international career. Also, there was no India in the XI picked up by Steyn.

Steyn's Best XI he played with or against: Kumar Sangakkara, Graeme Smith, Dave Hawken, Jacques Kallis, Jonty Rhodes, Quinton de Kock, Bret Bargiachi, Peter Lombard, Brett Lee, Paul Harris, Allan Donald.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

The two-month wait endured by India's Physical Disability T20 World Series-winning team for their prize money from the BCCI finally ended on Saturday after the Indian cricket board ensured that the Rs 3 lakh [to each player and support staff member] was remitted in their respective bank accounts.

mid-day on Friday had highlighted the hopes players had from the BCCI after the cash reward was announced on March 4. The BCCI deposited Rs 2.70 lakh [after tax] to all 18 players and five support staff members of the winning team.

It was a huge relief for Suganesh Mahendaran, son of an auto rickshaw driver. "I didn't expect the money to come so soon. When my teammate Ramesh Naidu informed me, I just couldn't believe it. This money is quite precious and we will use it very carefully," said the hard-hitting Tamil Nadu all-rounder, who changed the complexion of the final v England with his 11-ball 33 to help clinch the title in August 2019 at Worcestershire.

Naidu was thrilled too. "It is a huge amount for jobless cricketers like me. I will give this money to my father as he knows how best to utilise it," said Naidu, who is doing his M Tech from IIT Chennai.

Coach Sulakshan Kulkarni thanked mid-day for highlighting the players' cause. "We all received the money from BCCI. mid-day's article has made a lot of difference. So, a big thank you," said the former Mumbai wicketkeeper and Ranji Trophy-winning coach.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

India cricketer Shreyas Iyer has been entertaining his fans both on and off the field. In order to make things a bit positive during the COVID-19 pandemic, Shreyas Iyer shared a fun video on Instagram.

On Sunday, Iyer posted a video for his 2.3 million Instagram followers and captioned it: "Fielding practice is everywhere you look."

 

 

 

View this post on Instagram

Fielding practice is everywhere you look 😏

A post shared by Shreyas Iyer (@shreyas41) onMay 3, 2020 at 12:30am PDT

In the video, Shreyas Iyer is seen diving to save an egg, catching the remote control of his TV, arranging chairs quickly and even collecting clothes thrown out of the washing machine.

One could hear American rapper Tyga's song, Bored, playing in the background. Shreyas Iyer, born in Mumbai, made his debut for India in 2017. He has since played 18 ODIs and 22 T20Is. Shreyas Iyer is also the captain of the IPL franchise Delhi Capitals.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

The coronavirus pandemic has not just forced a suspension of all sporting events across the globe, it has also raised question marks on the future and whether the ICC should look at other options to help the bowlers keep the shine on the ball rather than using saliva or sweat. And Dinesh Karthik believes that there needs to be a definite balance between bat and ball.

"I believe that there should be a fair contest between bat and a ball which is missing now a days especially in white-ball cricket. But I don't know if they allow ball tampering, where would they put a stop to it because that will be really hard. They have to manage it. To get the ball to swing , you need sweat and saliva. With new ball you use saliva and when it grows old you use sweat. But in England they use Murray Mint to the saliva, it helps ball to swing a lot more. That's why Test cricket in England is so challenging," he said in the latest episode of ESPNcricinfo One on One #Workfromhome.

Talking about switching roles when playing for India and in the IPL, Karthik said: "With experience comes adaptability. Over a period of time what you need to learn is that as a middle-order batsman you should be able to bat anywhere between number 3 and 7 and sometimes even 8. The key is not to get attached to where you're batting but about which situation you're walking into and how can you give your best.

"T20 has evolved in such a way that it doesn't matter whether you're a 1 down batsman or a 2 down batsman. All you need to know when you walk into the game is -- is it the 8th over or the 11th over or the 14th over and then accordingly react to the situation and use your skill set to do your best."

Commenting on India's journey in the 2019 World Cup, Karthik said that the team had a very successful run and none had imagined that the journey would end against the Kiwis in the semi-finals.

"We believed that we will go all the way. Everything was working well for us. Though, in the last 2-3 years, the only time any team could challenge us is when they got 3-4 wickets upfront and that happened in the WC semi-finals. And that put a break on us. Obviously loosing semi-final still hurts. But in the lead up to the tournament we achieved something special, we played very good cricket," he said.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

With no cricket in sight in the near future due to the COVID-19 pandemic, the sport's groundsmen are the worst affected. Touched by their plight, India women's all-rounder Anuja Patil has came forward to help the groundsmen in her hometown, Kolhapur. Patil has distributed groceries worth approximately Rs 40,000 to groundsmen besides providing financial aid to some in dire need.

Supporting Patil in this cause are former Maharashtra pacer Ramesh Kadam, her Maharashtra teammate Rutuja Deshmukh, U-23 batsman Ranjit Nikam and trainer Swapnil Kadam. The group visited Kolhapur's Shaupuri Gymkhana, Shivaji Maharaj Stadium and Shau Stadium and provided aid to 11 groundsmen.

'Challenging times'

"This is a challenging time for all. And having undergone some of these tough situations personally, I understand how challenging it is to manage things. I feel it's my duty to help the needy," Patil, whose father Arun used to be an auto rickshaw driver till a few years ago, told mid-day.

"This crisis may last for another couple of months, so I plan to meet these groundsmen again to help out," added Patil.

Kadam said: "So far, we have distributed 11 grocery kits comprising rice (25kg), wheat (25kg), sugar (10kg), oil (5litre), dal (5kg), tea powder, soap etc."

India A's Anuja Patil during the first ODI against Australia A at Brisbane last December. pic/Getty Images

Having represented India in 50 T20Is, Patil can't wait to put on her India jersey and get on the cricket field again. But before that, she is keen to use this lockdown phase to upgrade her skills. "I'm utilising this time to work on my game. I'm following the schedule that has been given to us by our coach WV Raman sir and also speaking to my local coaches—Suraj Jadhav and Anil Sangawkar. I spend two hours training every morning and evening. I do my batting drills by hanging the ball on a rod and also bowl a bit in my parking lot. I'm also working on improving my visualisation of the ball with certain drills," said Patil, who has claimed 48 T20I wickets with her off-spinners.

Mental preparation

Patil made a fine impression in the fifth and final T20I on November 20 last year at the Providence Stadium in West Indies, returning with figures of 3-1-3-2 to help India win by 61 runs. "I want to ensure that I am mentally prepared because whenever the situation is normal again, cricket will begin and I should be ready to perform," Patil concluded.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

Spinner Harbhajan Singh on Wednesday said that MS Dhoni was a very shy person when he first came to the team and said that the wicket-keeper finally started opening up after the 2008 Sydney Test against Australia.

Harbhajan was doing an Instagram Live Session on the official handle of Chennai Super Kings and it was then that the spinner was asked to name his favourite memories with Dhoni.

Answering the question, Harbhajan replied: "We have played a lot of cricket together, we have done tours to probably all the countries, MS Dhoni was a very shy guy, he never used to come to our rooms, he was a very quiet guy, in the 2008 series against Australia, the Sydney Test brought the team together, from that time onwards, he started opening up".

"He was a young guy in the team, he was the captain but still he was very shy, he used to give suggestions, but he allowed everyone to do their thing, he is still the same, he gives everyone all the freedom, this is probably something people should learn from him, you should give space to bowlers," he added.

The 2008 Sydney Test between India and Australia is still remembered by everyone as Harbhajan Singh and Andrew Symonds were involved in an on-field tussle. Symonds had alleged that Harbhajan had passed a racist remark upon him and since then, the incident is known as 'MonkeyGate'.

During the 2008 Sydney Test, India also had to face few bad decisions and the side ended up losing the match. For the altercation with Symonds, Harbhajan was handed a three-match ban by referee Mike Procter although the charges were downgraded on 29 January 2008 to the lesser charge of using abusive language and the ban was lifted.

Thirty-eight-year-old Dhoni has been currently enjoying some time away from the game. He last played competitive cricket during the 2019 World Cup.

This year, Dhoni did not find a place for himself in the BCCI's centrally contracted players list. The board had released the list of central contract list of players for the period from October 2019 to September 2020.

Dhoni is the only captain to win all major ICC trophies (50-over World Cup, T20 World Cup, and Champions Trophy). Under his leadership, India also managed to attain the number one ranking in Test cricket. IPL 2020 was slated to begin from March 29, but the tournament has been postponed indefinitely due to the coronavirus pandemic.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

The novel Coronavirus outbreak has created an atmosphere of uncertainty but everybody has been trying to create hope in some way or the other.

This picture is of two fairy penguins standing side by side and comforting each other which watching the Melbourne skyline.

The Twitter user captioned the images, "Couldn't stop thinking about these penguins enjoying the Melbourne skyline together. So I found the original photographer and apparently they're both widowed. I can't handle it."

 

 

 

View this post on Instagram

Pinguins Part 2. “... Love is the only game in which we win even when we lose” The way that these two lovebirds were caring for one another stood out from the entire colony. While all the other penguins were sleeping or running around, those two seemed to just stand there and enjoy every second they had together, holding each other in their flippers and talking about penguin stuff. Pain has brought them together (see PART 1). I guess sometimes you find love when you least expect it. It’s a privilege to truly love someone, paradisiacal when they love you back. 📸 @tobiasvisuals • (Even though it is very similar to the previous image I thought it’d be a pity to not share it with you guys)

A post shared by Tobias Baumgaertner (@tobiasvisuals) onApr 13, 2020 at 5:01pm PDT

He also explained that the penguins had been standing on the rock for hours. He clicked the pictures about a year ago but shared them once again so that people could enjoy the heartwarming moment during such times.

According to him, it was a volunteer who revealed that the white penguin was an "elderly lady" who lost her partner and the one to the left was a "younger male", who lost its partner too.

"During times like this, the truly lucky ones are those that can be with the person/people they love most. I captured this moment about a year ago. These two fairy penguins poised upon a rock, overlooking the Melbourne skyline and were standing there for hours, flipper in flipper, watching the sparkling lights of the skyline and ocean. A volunteer approached me and told me that the white one was an elderly lady who had lost her partner and so did the younger male to the left. Since then they meet regularly comforting each other and standing together for hours watching the dancing lights of the nearby city. I spent 3 full nights with this penguin colony until I was able to get this picture. Between not being able or allowed to use any lights and the tiny penguins continuously moving, rubbing their flippers on each other's backs and cleaning one another, it was really hard to get a shot but I got lucky during one beautiful moment. I hope you enjoy this moment as much as I did. #lovewillalwayswin." (sic)

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

The Disneyland theme park in Shanghai will reopen on May 11 under "enhanced health and safety measures," the firm said. Only limited attendance will be allowed initially, and visitors will need to book tickets and make reservations in advance. Social distancing will be maintained in lines for amenities, in restaurants, on rides and other facilities and sanitisation and disinfection will be boosted, it added.

With warmer weather and new virus cases and deaths falling to near-zero, China has been steadily re-opening, parks, museums and tourist sites such as the Great Wall of China and the Forbidden City ancient palace complex in Beijing. China has reported two confirmed cases and 20 new asymptomatic infections.

China asks US for proof
China on Wednesday dared US Secretary of State Mike Pompeo to show "enormous evidence" he claimed to have to prove that the virus originated from a lab in Wuhan and said he has no proof to back up his claims.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

The Hong Kong Financial Services Development Council has released a report calling for the Government to expand its tax treaty network, in particular with countries that have growing aviation industries.

On March 23, 2020, the Turkish Government published a resolution in the official gazette to temporarily reduce the rate of VAT on air passenger transport to one percent.

ASHOK LEYLAND share price has zoomed 5% and is presently trading at Rs 48.

Meanwhile, the BSE AUTO Index is at 12,741 (up 1.7%).

Among the top Gainers in the BSE AUTO Index today is ASHOK LEYLAND (up 5.1%).

Over the last one year, ASHOK LEYLAND has moved down from Rs 86 to Rs 48, registering a loss of Rs 37 (down 43.5%).

On the other hand, the BSE AUTO has moved down from 18,491 to 12,741, loss of 5,750 points (down 31.2%) during the last 12 months.

The top gainers among the BSE AUTO Index stocks during this same period were MRF LTD. (up 11.8%) and BALKRISHNA INDUSTRIES (up 6.4%).

What About the Benchmark Indices?

The BSE Sensex is at 32,089 (up 1.6%).

The top gainers among the BSE Sensex stocks today are HUL (up 3.3%), INDUSIND BANK (up 2.5%) and BAJAJ FINANCE (up 2.3%). Other gainers include RELIANCE IND. (up 2.3%) and TATA STEEL (up 2.3%). The most traded stocks in the BSE Sensex are RELIANCE IND. and SBI.

In the meantime, NSE Nifty is at 9,383 (up 1.5%). The top gainers in the NSE Nifty include DR. REDDYS LAB (up 4.1%), INDIABULLS HOU. FIN. (up 3.8%) and HUL (up 3.2%). Other gainers include HINDALCO (up 2.5%) and ZEE ENTERTAINMENT (up 2.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,277 to 32,089, registering a loss of 6,188 points (down 16.54%).

ASHOK LEYLAND Financial Update...

ASHOK LEYLAND net profit down at Rs 278 million for the quarter ended December 2019, compared to a loss of Rs 4 billion a year ago. Net Sales declined 36.5% to Rs 40.2 billion during the period as against Rs 63.3 billion in October-December 2018.

For the year ended March 2019, ASHOK LEYLAND reported 19.7% increase in net profit to Rs 21.8 billion compared to net profit of Rs 18.2 billion during FY18.

Revenue of the company grew 11.0% to Rs 332 billion during FY19.

The current Price to earnings ratio of ASHOK LEYLAND, based on rolling 12 month earnings, stands at 15.0x.

This article (ASHOK LEYLAND Surges by 5%; BSE AUTO Index Up 1.7%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

The Seychelles Revenue Commission has issued its final Public Ruling 2016-2 to provide clarity regarding the methodology used to calculate the additional special business tax deduction allowed for marketing and promotion expenditure.

Dalal Street expects ICICI Bank to report healthy earnings in Q4

Franklin Templeton: The fund house has not given any clear indication about the possible timeline within which it will liquidate all its investments and return investors' money

Lack of emergency funds will force you to either go for distress selling of your investments or high-cost borrowing, which will jeopardise all your future goals. One should ideally have an emergency fund which can take care of at least 6 months of expenses

The Seychelles says that the OECD has found the territory to have made sufficient reforms to comply with its BEPS Action 5 standard on harmful tax regimes.

The EU's Code of Conduct Group (Business Taxation) has written to authorities in Seychelles to warn that new provisions to the territory's tax regime are considered harmful.

Nearly three quarters of the sample reported having been "humorously" accused of promoting death; for example, being called "Dr. Death," in a recent survey of palliative care medicine practitioners.

A total of 487 cases of dengue and 432 cases of chikungunya have been reported in New Delhi till August 27, 2016, revealed the South Delhi Municipal Corporation.

Releasing mosquitoes infected with a type of bacteria could wipe out the spread of dengue, thereby reducing global dengue cases by 90 percent, reports a new study.

Two types of diabetes drugs namely SGLT2 inhibitors and GLP-1 drugs were effective in reducing heart complications including stroke, heart attack, and

Regardless of patient gender, age or smoking status, teprotumumab, the first FDA-approved drug for thyroid eye disease, provides significant improvement

New study has shed light on how an important front-line ethambutol drug kills the tuberculosis bacterium. The study has been conducted by University of Birmingham scientists.

Sodium glucose cotransporter 2 (SGLT2) inhibitors which are primarily used to treat type 2 diabetes were found to lower the risk of serious kidney problems, revealed study published in The BMJ.

New Zealand's opposition National Party has released its plans for tax reform, announcing it would review whether to lower the corporate tax rate.

The Turkish tax authority has published a draft communique on the application of the digital sales tax, which is set to come into effect on March 1, 2020.

On March 1, 2020, Turkey's recently approved tax on certain digital services went into effect.

The Swiss Government has welcomed Switzerland's removal from the EU's list of non-cooperative tax jurisdictions, and said that the country meets and implements international tax standards.

The UK's National Audit Office has called for a more comprehensive review of the 1,190 tax relief measures available for taxpayers, which are estimated to have cost the UK revenues worth GBP155bn (USD201.7bn) in 2018-19.

The EU has added the Cayman Islands, Palau, Panama, and the Seychelles to its list of non-cooperative tax jurisdictions, bringing the total tally to 12 from 8.

Jersey has signed a double taxation agreement with the Republic of Cyprus. This is the island's twelfth agreement that meets the international standard for such agreements.

Recently released statistics by Jersey's Government show a steady or improving picture for the financial services sector in 2015.

Jersey has launched a tax amnesty for prior unpaid taxes that will be offered until the end of 2017.

Jersey is consulting on the introduction of a land development charge, to be called the Jersey Infrastructure Levy.

Turkey is the jurisdiction with the world's most complex tax and accounting requirements, according to a new report by TMF Group.

South Africa, Jersey, and Belgium are among a handful of territories that have recently announced an extension to the due date for country-by-country reports under the new frameworks being introduced under Action 13 of the OECD's base erosion and profit shifting Action Plan.