Court restores sacked Sri Lanka Cricket board
Colombo: The Court of Appeal on Tuesday restored the Sri Lanka Cricket board administration, a day after it was dismissed by the government following the national team's heavy defeat to hosts India in the ongoing World Cup.
Sports Minister Roshan Ranasinghe on Monday appointed an interim seven-member committee headed by former World Cup-winning captain Arjuna Ranatunga following a public outcry after Sri Lanka's 302-run loss to India in Mumbai on November 2.
But, the Court of Appeal here suspended for 14 days the notification issued by Ranasinghe after Silva approached it for relief.
Officials of the Silva administration said the court order tantamounted to the SLC being restored and they would resume operations as usual.
Ranatunga visited the SLC headquarters on Monday to take over the administration.
The sacking of SLC was discussed at the cabinet meeting held here on Monday. President Ranil Wickremesinghe appointed a cabinet sub committee headed by foreign minister Ali Sabry to probe the dispute over the SLC administration.
Ranatunga, who earlier headed the National Sports Council appointed by Ranasinghe, has been questioning the Silva administration.
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Silver jumps Rs 5,000 to hit fresh peak of Rs 2.56 lakh per kg in Delhi markets
New Delhi (PTI): Silver prices surged by Rs 5,000 to hit a new record of Rs 2,56,000 per kilogram in the national capital on Wednesday, amid strong safe-haven demand and robust industrial buying, according to the All India Sarafa Association.
The white metal closed at Rs 2,51,000 per kilogram on Tuesday.
Traders said that escalating tensions between the US and Venezuela have boosted safe-haven appeal, while supply-side constraints and strong industrial usage further amplified the silver prices.
"Silver prices were also driven by sustained buying by the investors and China's export curbs on silver that came into effect from January 1," an expert said.
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Meanwhile, the price of gold of 99.9 per cent purity slipped marginally by Rs 100 to Rs 1,41,400 per 10 grams (inclusive of all taxes), compared to the previous close of Rs 1,41,500 per 10 grams.
"Gold prices experienced a slight decline on Wednesday as investors took profits following a recent rally," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
He added that a recovery in the US dollar also weighed on gold prices, though persistent geopolitical risks continue to support safe-haven demand for precious metals, which is limiting sharp downside.
In the international market, spot gold fell by USD 45.22, or 1.01 per cent, to USD 4,449.87 per ounce.
Spot silver was trading lower by USD 2.55, or 3.15 per cent, to USD 78.69 per ounce. During the session, the white metal climbed by USD 1.45, or 1.8 per cent, to hit an intraday high of USD 82.75 per ounce in the overseas trade.
Renisha Chainani, Head - Research at Augmont, said, "We could see some profit booking from here, but when it breaks the previous top again, the next level to watch for is USD 84 (Rs 2,66,000 per kg) and USD 88.5 (Rs 2,80,000 per kg)."
