WFI elections on August 12, Maharashtra declared ineligible for participation
New Delhi, Jul 21: The much-delayed elections of the Wrestling Federation of India (WFI) will be conducted on August 12, it was announced on Friday, but the state of Maharashtra will not be part of the poll process as Returning Officer Justice MM Kumar declared that both rival factions were ineligible for participation.
The ad-hoc panel had scheduled the elections for July 6 but it was forced to reschedule the polls to July 11 after disaffiliated state bodies from Maharashtra, Haryana, Telangana, Rajasthan and Himachal Pradesh approached it for a hearing, claiming that their dismissal was not appropriate.
Panel heard the aggrieved representatives of the state bodies but the polls could not go ahead even on July 11 with Gauhati High Court staying the elections after Assam Wrestling Association (AWA) sought right to participate in the poll process.
The Supreme Court then paved the way for elections on Tuesday after staying the Gauhati High Court order.
The electoral college will now have 48 members with voting rights from 24 state bodies and the nominations for posts will be filed on August 1.
The scrutiny of the nominations will be conducted on August and a final list of the candidates will be published on August 7. If election is required, voting will be conducted on August 12.
The sports ministry had ordered the WFI to suspend all its activities with immediate effect after appointing an oversight committee to investigate the allegations of sexual harassment of women wrestlers by national body president Brij Bhushan Sharan Singh, who has received a bail in the case.
Brij Bhushan, who has completed 12 years as president, is ineligible to contest elections as per Sports Code guidelines.
It will be interesting to see if his son Karan, who heads the UP Wrestling Association, contests the elections.
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Rupee settles 1 paisa higher to close at 94.15 against US dollar
Mumbai (PTI): The rupee settled with gains of just one paisa to close at 94.15 against the US dollar on Monday, as rising global uncertainty, escalating tensions in West Asia and soaring crude oil prices weighed on investor sentiments.
Forex traders said the INR/USD pair pared its initial losses, but the overall bias remains negative as FII sell-off and elevated crude oil prices restricted the gains for the local unit.
At the interbank foreign exchange market, the rupee opened at 94.25 against the US dollar, and touched an intraday high of 94.11 and a low of 94.28 against the greenback during the day.
At the end of Monday's trading session, the rupee was quoted at 94.15, registering a gain of just 1 paisa over its previous close.
On Friday, the rupee extended its losing streak for the fifth day in a row, depreciating 15 paise to close at 94.16 against the US dollar.
"The rupee snapped a five-session losing streak, rebounding in tandem with a rally across regional currencies. However, the mood remains apprehensive as the market braces for a potential RBI intervention around 94.30 and higher crude oil prices," said Dilip Parmar – Senior Research Analyst, HDFC Securities.
On the charts, the USDINR pair has reclaimed its upward momentum, carving out a classic bullish structure of higher highs and lows on the daily time frame, he said, adding that for the coming sessions, 93.80 serves as a support, with 94.40 acting as the primary hurdle.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent at 98.32.
Brent crude, the global oil benchmark, was trading higher by 2.36 per cent at USD 107.82 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 639.42 points to settle at 77,303.63, while the Nifty surged 194.75 points to 24,092.70.
Foreign Institutional Investors offloaded equities worth Rs 1,151.48 crore on Monday, according to exchange data.
Meanwhile, India's forex reserves jumped by USD 2.362 billion to USD 703.308 billion during the week ended April 17, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the forex kitty had increased by USD 3.825 billion to USD 700.946 billion.
