Primary accused in Sriram Finance fraud arrested in Bhatkal
Bhatkal: The Bhatkal Rural Police have arrested Raghavendra Rajeeva Swamy, the primary accused in a case of financial misappropriation involving Sriram Finance. Swamy's arrest follows the earlier detentions of the second and third accused in the same case.
Swamy, employed at the Bhatkal branch of Sriram Finance since January 1, 2023, is accused of abusing his position to unlawfully waive vehicle loans for certain clients. According to a complaint lodged by senior Sriram Finance staff member Naveen Poojary, Swamy's actions resulted in the company being defrauded of approximately Rs 89.8 lakh.
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The allegations against Swamy include the fabrication of hypothecation certificates bearing the company’s seal and the forged signature of a chief officer from the company’s head office. These fraudulent documents were reportedly used to transfer vehicles at the Regional Transport Office (RTO) without proper authorization. Despite the clients' loans not being fully paid off, Swamy managed to take possession of the vehicles and misappropriated the proceeds from their sale, bypassing the company's regulations.
Furthermore, Swamy is accused of collecting money from clients over several months under the pretense of clearing their loans. Instead of remitting these funds to Sriram Finance, he allegedly used the money for personal gain, as stated in the complaint to the police.
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Climate Change crisis: IMD to change parameters to declare heatwaves
Thiruvananthapuram (PTI): The IMD, along with its technical partners, will soon revise the criteria for declaring heatwave conditions in the country, as the present parameters do not suit India’s geographical conditions, according to official sources here.
Kerala, in particular, has faced difficulties in issuing heatwave warnings because of the limitations of the existing parameters.
Sources in the India Meteorological Department said the state experienced severe heat and humidity this summer and, for the first time, weather forecasts were made based on the anti-cyclone system that formed near the Karnataka–Maharashtra coast.
"We have never had an anti-cyclone system form closer to the South before, and this time we had to predict the weather based on it," a senior IMD official told PTI.
Anti-cyclonic systems are common over north-western parts of India, but this year one formed near the southern region, leading to unusually hot nights.
The anti-cyclone caused downward air movement, which pushed warm air towards the surface and prevented it from dispersing at night, the official added. As a result, Kerala recorded night temperatures 3 to 4 degrees Celsius above normal.
Because Kerala has experienced a steady temperature increase during the summer months for the last few years, changing the parameters for declaring heat waves would benefit the state, enabling the authorities to issue warnings more efficiently, the official added.
The IMD currently issues hot and humid weather warnings, although the situation warrants a heatwave warning, as the existing parameters do not allow the department to issue one.
At present, the IMD issues a heat wave warning in coastal areas when the maximum temperature reaches 37 degree Celsius or more with a temperature departure of 4.5 degree Celsius over the recorded maximum temperature.
For plains, the threshold is 40 degrees Celsius with a departure of 4.5 degrees Celsius or more from normal, while for hilly regions it is 30 degrees Celsius with a departure of 4.5 degrees Celsius or more.
Officials said the current heatwave declaration parameters also require these conditions to be recorded at two stations in the state to issue the warnings.
"In Kerala, we hardly get to record these conditions in two areas; moreover, we have severe heat stress that can easily cause a heat stroke. So we have decided to rework the heatwave declaration parameters and the changes will be implemented shortly. There will be a consultation with the Disaster Management Authority also before finalising the parameters," the official said.
Throughout Kerala, temperatures recorded this summer were three to four degrees Celsius higher than usual. The state also reported multiple cases of heatstroke despite regular warnings issued by the IMD and the state disaster management authority.
According to experts, Kerala has become a climate change hotspot, with a steady increase in atmospheric temperatures and erratic monsoons.
The IMD has also predicted a below-normal monsoon this year, as this is the first time two consecutive El Nino years are being witnessed.
