Regions: Europe Nordics Sweden Sports betting services provider Kambi Group has agreed a deal to supply its sportsbook platform to William Hill in the regulated Swedish market.The bookmaker is licensed in Sweden via Evoke Gaming, having taken charge of the business through its acquisition of MRG Group.Evoke Gaming’s Redbet.se site is to be rebranded as WilliamHill.se as part of the operator’s efforts to establish its own brand in the country.Kambi will now align its sportsbook with William Hill’s own offering, with plans to roll out the new-look, Swedish-facing sports betting service imminently.Evoke Gaming operates as a subsidiary of MRG, for which William Hill tabled an offer of SEK2.82bn (£229.7m/€265.8m/$296.7m) in October last year.William Hill is yet to complete the deal, but in February increased its stake in MRG to 98.5%, leaving it just short of full ownership. The bookmaker has already secured all necessary regulatory approvals for the full acquisition of the operator.Image: Max Pixel Topics: Sports betting Tech & innovation Kambi to power William Hill’s Swedish sportsbook Tags: Online Gambling Sports betting services provider Kambi Group has agreed a deal to supply its sportsbook platform to William Hill in the regulated Swedish market. The bookmaker is in the process of establishing its brand in the country having rebranded Evoke Gaming’s RedBet.se site as WilliamHill.se. 29th April 2019 | By contenteditor Sports betting Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address
New Frontier Properties Limited (NFP.mu) listed on the Stock Exchange of Mauritius under the Property sector has released it’s 2017 interim results for the third quarter.For more information about New Frontier Properties Limited (NFP.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the New Frontier Properties Limited (NFP.mu) company page on AfricanFinancials.Document: New Frontier Properties Limited (NFP.mu) 2017 interim results for the third quarter.Company ProfileNew Frontier Properties Limited is a Mauritian company that engages in the acquisition and development of income-generating retail and logistics property in the UK and Europe. The company is a real estate investment trust. New Frontier Properties Limited is listed on the Stock Exchange of Mauritius.
See all posts by Charlie Watson Simply click below to discover how you can take advantage of this. Image source: Getty Images. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Charlie Watson owns shares in Barclays. The Motley Fool UK has recommended Barclays and Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The banks have published their impairment losses, resulting from coronavirus and Brexit. RBS (LSE:RBS) estimates £0.8bn, Lloyds (LSE:LLOY) £1.4bn and Barclays (LSE:BARC) £2.1bn. This sparked lots of volatility in their respective shares, but in the long term could they lead the stock market rebound? I think this will depend on three key factors.Leading the stock market reboundI look at a bank’s Common Equity Tier 1 Ratio (CET1) in order to judge its ability to withstand a financial crisis. This assesses how much capital the bank has to cover potential losses from its assets (predominantly loans it has made).5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…RBS is best capitalised of the three. It has £78bn worth of cash and its CET1 stands at 16.2%, the highest of any of ‘the big five’ banks. Barclays and Lloyds both have a CET1 of 13.8%. All are comfortably above the 7% level set by Basel III. This is reflective of the improvements made since the 2008 banking crisis, and should stand them in good stead to lead a stock market rebound. Indeed, as a whole, the UK banking sector’s CET1 ratio is currently three times the 2008 level.However, it is worth noting that these ratios were calculated in financially strong times. If assets become more impaired, this ratio decreases. This is something the Bank of England tests in its stress tests. All three banks passed the latest test with CET1 ratios above the 7.2% hurdle rate.Therefore, I think all three banks should have sufficient resources to survive a significant downturn.Competitive advantageOf course, having a lot of capital on its own doesn’t make a good investment. The ability of these banks to drive the stock market rebound depends on its ability to generate long-term profits.A big threat to the big five has been the challenger banks. However, the big banks appear to be winning the war. Increased digitalisation and better ability to absorb regulation costs has been driving this. Indeed, the top six banks now hold 87% of personal accounts, up from 80% in 2000.Low interest rates are definitely a threat in this industry. Barclays estimates this will cost it £250m. Regulation is also a threat. Again, Barclays estimates the clampdown on fees and overdrafts will cost it £150m. However, I actually think this will help the big banks keep their market share, as it’s an extremely tough and capital-intensive market to enter.In conclusion, I believe these three banks should be able to weather the storm and lead the stock market rebound after its gone. At respective price-to-earnings ratios of 7.4 (Barclays), 9.2 (Lloyds) and 4.25 (RBS), they all appear to present good value picks. Additionally, at price-to-book ratios of 0.3 (Barclays and RBS) and 0.4 (Lloyds), they are all cheaper than the industry average 0.75. Enter Your Email Address Have £5k to invest? I think that these FTSE 100 banks could lead the stock market rebound “This Stock Could Be Like Buying Amazon in 1997” Charlie Watson | Monday, 4th May, 2020 | More on: BARC LLOY NWG Our 6 ‘Best Buys Now’ Shares Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. 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The Novacyt share price plunges 10%! Here’s why Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Our 6 ‘Best Buys Now’ Shares Adventurous investors like you won’t want to miss out on what could be a truly astonishing opportunity…You see, over the past three years, this AIM-listed company has been quietly powering ahead… rewarding its shareholders with generous share price growth thanks to a carefully orchestrated ‘buy and build’ strategy.And with a first-class management team at the helm, a proven, well-executed business model, plus market-leading positions in high-margin, niche products… our analysts believe there’s still plenty more potential growth in the pipeline.Here’s your chance to discover exactly what has got our Motley Fool UK investment team all hot-under-the-collar about this tiny £350+ million enterprise… inside a specially prepared free investment report.But here’s the really exciting part… right now, we believe many UK investors have quite simply never heard of this company before! Enter Your Email Address The high-calibre small-cap stock flying under the City’s radar The Novacyt (LSE: NCYT) share price plunged by a double-digit percentage this morning after the company provided an update on its dispute with the Department of Health and Social Care (DHSC). Shares in the diagnostic business have surged over the past 18 months as demand for its testing equipment exploded. The stock has increased in value by more than 2,400% since the end of 2014. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Revenue increased 900% year-on-year in the second quarter of 2020 to €36m. In a trading update issued at the beginning of April, management announced revenues had increased further to €83m in the first quarter of 2021. DHSC contract The company’s agreement with the DHSC has been responsible for a large chunk of this growth. At the end of April 2020, Novacyt committed to supplying 288,000 of its coronavirus tests per week to the DHSC for use in the NHS.In April 2020, Novacyt’s Primerdesign division received orders totalling €103m for its coronavirus test. This surge sent the Novacyt share price skyrocketing. At the time, the company didn’t break out how much of this was due to the government contract. However, according to its latest trading update, management revealed that 50% of Q1 2021 revenue was driven by sales to the DHSC. After the initial government contract was awarded, the two parties signed an extension in September. Management claimed this contract had a minimum value of £150m for the first 14 weeks. It said a further £100m of revenue could be expected in the following 10 weeks. After agreeing on this second contract, in January, Novacyt told investors it was in “active discussions” regarding an extension.Unfortunately, this extension wasn’t agreed upon, even though the company continued to supply testing equipment in line with DHSC demand. Novacyt has now decided to take legal action against the government to enforce the contract. It has warned this “may have a material impact” on Q4 2020 and Q1 2021 revenues from the DHSC. The company believes it has “strong grounds to assert its contractual rights.” Novacyt share price outlook Considering all of the above, it’s clear why the Novacyt share price is sliding. If the company loses the court battle, it could have to write off a double-digit percentage of revenues for those Q4 and Q1 periods. That would undoubtedly justify a lower share price. It may also alienate what looks to be its largest single customer. On the other hand, if Novacyt wins the court battle, the company may be able to achieve windfall profits. It may be able to keep already-reported revenues and generate more income off the back of a contract extension. This will provide more funding to support the firm’s expansion in other areas. That’s the best-case scenario. Personally, I don’t particularly want to invest in companies embroiled in large lawsuits. Court battles can distract managements and cost significant sums, which can be disruptive even if the entity wins. Moreover, the uncertainty could hang over the Novacyt share price for months, or even years. As such, I wouldn’t buy the stock today. I think there are other companies out there that look more attractive from a risk/return perspective. Simply click below to discover how you can take advantage of this. Click here to claim your copy of this special investment report — and we’ll tell you the name of this Top Small-Cap Stock… free of charge! Image source: Getty Images Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Rupert Hargreaves | Friday, 21st May, 2021 | More on: NCYT See all posts by Rupert Hargreaves
End of an era: After 12 years at the West Country club, Barkley will play his final game for Bath this weekendOLLY BARKLEY will start his final game for Bath Rugby at fly-half as the West Country side look to get back to winning ways in the Aviva Premiership against Sale Sharks at the Recreation Ground tomorrow, kick-off 14.15.Barkley, who it was announced last week would be leaving to join Top 14 side Racing Metro 92, has amassed over 230 appearances in the Blue, Black and White, and scored over 2160 points in his time at the Club.He re-joins Michael Claassens in the half-backs, with Stephen Donald switching to inside centre, partnering Dan Hipkiss in the midfield. Tom Biggs and Kyle Eastmond line up on the wings, as Nick Abendanon starts at fullback.In the pack, David Wilson is back at tighthead, with Paul James handed the loosehead shirt. Lee Mears continues at hooker.Dave Attwood makes his first start of the season in the second row, combining with captain Stuart Hooper. Carl Fearns, Ben Skirving and Simon Taylor complete the line-up in the backrow. Starting XV:15. Nick Abendanon, 14. Kyle Eastmond, 13. Dan Hipkiss, 12. Stephen Donald, 11. Tom Biggs, 10. Olly Barkley, 9. Michael Claassens, 1. Paul James, 2. Lee Mears, 3. David Wilson, 4. Stuart Hooper (C), 5. Dave Attwood, 6. Carl Fearns, 7. Ben Skirving, 8. Simon TaylorReplacements:16 Ross Batty, 17 Nathan Catt, 18 Anthony Perenise, 19 Dominic Day, 20 Will Skuse, 21 Mark McMillan, 22 Sam Vesty, 23 Jack Cuthbert READING, ENGLAND – SEPTEMBER 22: Olly Barkley of Bath in action during the Aviva Premiership match between London Irish and Bath Rugby at Madejski Stadium on September 22, 2012 in Reading, England. (Photo by Warren Little/Getty Images) LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS Speaking earlier in the week, Olly said: “I’ve had an amazing time here and I’ve made some fantastic memories, played in some amazing teams and met some wicked people, and I leave with nothing but absolute love for this place and these people.”“The task for me now is really to just concentrate on the game. It’s a big occasion for me and for my family, but most important is getting four points. We need to get back on the horse after losing the last two on the bounce and have been working very hard to right the wrongs. It’s not about me leaving, it’s about the four points, and if I can say goodbye having helped the team to a win, then I’ll be happy.”
Please enter your name here LEAVE A REPLY Cancel reply Photo by Jens Behrmann on Unsplash By Linda WilliamsBuying an investment property is a financial decision that shouldn’t be taken lightly. If you’re interested in earning a passive income through investment properties, you may feel conflicted between building a new house or purchasing an already-existing property on the market.Many homeowners spend a considerable amount of time and energy either designing their dream home or searching for the home that ticks off their wishlist’s check boxes before they sign a contract. As an investor, however, you’ll need to look beyond design and consider crucial factors such as price, location, returns, possible risks, market trends, and property taxes.Before purchasing an investment property, check out this guide to understand each of the given options’ pros and cons. You’ll also learn everything you need to know to make an informed investment decision.Pros of building a new houseWhen building your house, you can customize it to meet your expectations as long as it complies with your budget range. A wide variety of stock and custom house plans grants potential homeowners the freedom to build a house according to their own specifications.For instance, you can customize your home to the desired interior and exterior layouts and tweak other features to meet your requirements.Choosing to build your own home over purchasing a property on the market may also offer you tax benefits. For instance, an investment property owner may be able to claim depreciation in the future and attract high-paying clients who will pay more for advanced features that define a new wave of home design. [There might be other tax benefits, as well. For example, if you buy land in Tennessee you will be exempt from income taxation. So, if you plan to live in Tennessee and you face difficulties finding a house that fits all your requirements, there is great news for you. You can create the house of your dreams by yourself and it will have obvious low-cost advantages. If you are searching for affordable land consider doing your thorough research on states such as West Virginia, Arizona, New Mexico and Arkansas.]Additionally, building a house yourself eliminates the stress related to repairs and renovations. Because every lighting fixture, floorboard, and kitchen tile is purchased brand-new in the construction of a custom home, homeowners can rest assured that their property will withstand years of renter use. Another notable advantage of building your own investment property house is that it instills a more profound sense of ownership than buying an existing home does—making the purchasing process all the more fulfilling.Another benefit worth mentioning is that newer homes are required to abide by the current building codes, making them energy-efficient and technologically sophisticated. With state-of-the-art appliances and security systems installed, your resale value will spike.Downsides of building a new houseAccording to the U.S Census Bureau, building a new house from the ground up takes at least seven months. To most, this seven-to-eight-month window is a significant amount of time to invest in your investment property. Unfortunately, this average building time is often the best-case scenario. If a home building team faces human error, natural disaster, or bad weather, it may take longer for the property to start generating income. Additionally, with the extended building period, unexpected cost increases could stretch your budget.Along with the time commitment, building a house from scratch involves focused decision-making, which can be overwhelming, especially during your first project. For instance, you may need to plot out the land, choose materials such as flooring and backsplash, create a floor plan, and decide on colors and finishes. Handpicking paint colors and wall trim can consume a lot of your time, especially if you’re managing a team of contractors along the way.Another common disadvantage of building your house is its location. Many new property developments aren’t located in metropolitan cities. If your property doesn’t reside in a coveted area with well-reviewed restaurants, active nightlife, or outdoor recreation opportunities, it could lower the house’s value.Pros of buying a house on the marketThe most significant advantage of buying an already-existing property is that it starts generating returns almost immediately. In many areas, the property market is considered stable, so you’re guaranteed a fixed return on investment.Because you receive a passive income from paying tenants, this source of income is guaranteed and won’t fluctuate in response to market trends or crashes. If the property’s rent exceeds the loan payments, you may not need to allocate extra money for mortgage payments. With extra funds for mortgage costs, a homeowner may be left with surplus cash to cover additional property costs.Buying a house also allows you to deduct property expenses such as council rates, property maintenance, and other related costs required to maintain your rental property. Whereas, purchasing already-existing property grants you, as the homeowner, the freedom to compare prices and rates to score the best deal possible.For time efficiency, purchasing a home on the market is much quicker than building one from the ground up. The home buying process is said to take about three months, a length of time that pales in comparison to the seven-month building process.Downsides of buying a house on the marketWhile building your house is often stressful, you can customize it the way you want. On the contrary, when you buy an existing property, you may not satisfy every must-have—meaning you’ll have to compromise a few items on your wishlist.While settling for second best may be the best savings-centric approach, compromising on too many must-haves can lead to buyer’s remorse or even lower the value of your property. As an investor, you could also face stiff competition, especially if you’re eyeing a sought-after property in the area.If you decide to invest in a fixer-upper, remember that older homes can be a turn-off for potential buyers, especially those buyers in the process of building a family. An old house could require extensive renovations to meet current standards.Depending on the number of repairs required and the extent of damage inflicted, you may spend more money on an existing property than you would on building a new home. Additionally, a property located in a less pleasant neighborhood will take longer to attract tenants, which can affect its value and income generated.ConclusionWhether you intend to build a home or buy an established house, remember that each option lends to a unique set of benefits and drawbacks. The decision you make will depend purely on your budget limitations and the desired return on investment. Therefore, assess your situation, weigh the options, and make an informed decision. The Anatomy of Fear TAGSBuildingBuyingGuideInvestmentPros and ConsReal Estate Previous articleWednesday saw the lowest COVID positivity rate in months for Orange Co.; plus updates on testing, evictions and moreNext articleSafely seated: Orange Co. Fire Rescue offers free car seat safety checkpoints Denise Connell RELATED ARTICLESMORE FROM AUTHOR Share on Facebook Tweet on Twitter Support conservation and fish with NEW Florida specialty license plate You have entered an incorrect email address! Please enter your email address here Save my name, email, and website in this browser for the next time I comment. Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Please enter your comment!
Apartments Projects Saxena Apartments / Vir.Mueller ArchitectsSave this projectSaveSaxena Apartments / Vir.Mueller Architects photographs: Andre J. FanthomePhotographs: Andre J FanthomeSave this picture!© Andre J. FanthomeRecommended ProductsPorcelain StonewareApavisaSlabs – ConcretePorcelain StonewareApariciPorcelain Tiles – BrickworkPorcelain StonewareGrespaniaPorcelain Tiles – 20MMText description provided by the architects. The Saxena apartments are designed to accommodate three families within two typologically distinct apartments – single floor and duplex. Our design chose to work within the fabric and scale of the context, anchoring this building firmly between a neighbourhood park on the north and a busy street on the west. Each apartment is envisioned as a container of sunlight, mapping the changing intensity of the sun on a highly reflective limestone floor. Rooms are organized around an interior “plaza”, eliminating circulation corridors and facilitating visual links between the rooms to the park and street outside. The choice of monolithic, sandblasted Gwalior sandstone panels for the facades enabled us to collaborate with the stone craftsmen, creating shade screens as thermal buffers on the street. By reducing the density of the stone on the north facing balconies, we imagined them as lanterns illuminating the public garden. Save this picture!© Andre J. FanthomeAs humanists, the social and contextual background of our material choices is as important as their aesthetic value. Designing and building thoughtfully are vital to the sustenance of our practice, if only as an antidote to the indifference with which the average Indian regards architecture. Save this picture!© Andre J. FanthomeBy employing a spare palette of materials – limestone floors, plastered masonry walls, and insulated glass – the interior spaces echo variations in the quality of light, and the colour of the surrounding foliage, the only urban links to topography and landscape, making the inhabitants aware of a sense of the elemental. For this project, we chose to adopt a selection of surfaces whose long-term benefits are considerable; hence our preference to build with singular materials expressed in their natural state such as the Gwalior sandstone façade or the limestone floors. Save this picture!First & Second Floor PlanWe take great pride when our designs empower daily-wage construction workers to consider themselves artisans. Rather than bemoaning rapidly vanishing craft traditions, we are energized by the prospect of elevating standards of construction across the building industry. By discovering the roots of a place through such cues, we hope that small buildings may succeed in galvanizing their urban context.Save this picture!SectionProject gallerySee allShow lessNew Exhibition Calls for a Bold Vision in the “Great Basin”EventEstar House / REC ArquitecturaSelected ProjectsProject locationAddress:New Delhi, Delhi, IndiaLocation to be used only as a reference. It could indicate city/country but not exact address. Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/448010/saxena-apartments-vir-mueller-architects Clipboard ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/448010/saxena-apartments-vir-mueller-architects Clipboard Architects: Vir.Mueller Architects Photographs Saxena Apartments / Vir.Mueller Architects CopyApartments•New Delhi, India India Save this picture!© Andre J. Fanthome+ 24 Share “COPY” “COPY” ArchDaily CopyAbout this officeVir.Mueller ArchitectsOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsNew DelhiHousingIndiaPublished on November 14, 2013Cite: “Saxena Apartments / Vir.Mueller Architects” 14 Nov 2013. ArchDaily. Accessed 11 Jun 2021.
Architects: Adalberto Dias Area Area of this architecture project CopyAbout this officeAdalberto DiasOfficeFollowProductsConcreteBrick#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitecturePortugalPublished on January 12, 2017Cite: “Student Residences / Adalberto Dias” 12 Jan 2017. ArchDaily. Accessed 11 Jun 2021.
Pinterest Calls for maternity restrictions to be lifted at LUH Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Mc Brearty angry at three day notice rule Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebook Twitter Twitter Google+ Cllr Frank Mc Brearty has hit out at council officials after he was told by the mayor that at least three days notice would have to be given for an emergency council meeting.Cllr Mc Brearty had written to the mayor this morning seeking a meeting to discuss the impact the freezing conditions have been having on people in Donegal. In his response, Mayor Brendan Byrne pointed out he had already sought such a meeting, but was bound by standing orders to give proper notice.However, Cllr Mc Brearty maintains that in an emeregncy situation, thats’s not good enough. By News Highland – January 11, 2010 Newsx Adverts Previous articleDarts – North West Players win at LakesideNext articleRoads still dangerous despite thaw News Highland RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Facebook Need for issues with Mica redress scheme to be addressed raised in Seanad also
Top Stories’Reservation Policy To Apply In Effecting Promotions To New Posts Created By Restructuring Of Cadres’: Reiterates Supreme Court Mehal Jain28 Nov 2020 8:44 PMShare This – xThe Supreme Court on Thursday reiterated that, by virtue of its 2008 decision in Pushpa Rani’s case, where the restructuring of cadres results in creation of new posts, the policy of reservation would apply in effecting promotions to those posts.The bench of Justices U. U. Lalit, Vineet Saran and Ravindra Bhat was hearing a Transferred Case arising out of a writ petition filed by the Union…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court on Thursday reiterated that, by virtue of its 2008 decision in Pushpa Rani’s case, where the restructuring of cadres results in creation of new posts, the policy of reservation would apply in effecting promotions to those posts.The bench of Justices U. U. Lalit, Vineet Saran and Ravindra Bhat was hearing a Transferred Case arising out of a writ petition filed by the Union of India in the Patna High Court. An OA was filed before CAT, Patna pertaining to the restructuring of the post of Central Excise Inspector with the higher scale of Superintendent in Bihar. The view of the Tribunal was challenged by the UOI before the High Court. During the pendency of the writ petition, the UOI had requested for its transfer to the Supreme Court on account of similar issues pending before the latter in certain Civil Appeals. On Thursday, the three-judge bench noted that the said Civil Appeals were dismissed for default of appearance by the UOI and no attempts to restore them to the file were made. The bench noted that in the instant case also the order of the CAT was complied with by the department and the benefits under the order of the Tribunal stand conferred on the Original Applicants before the Tribunal. However, on the insistence of ASG Madhavi Diwan for the Centre, bench observed that so far as the principle issues are concerned, the Supreme Court in the 2008 case of Pushpa Rani had held that where a restructuring exercise resulted in creation of additional posts in most of the cadres and there was a conscious decision to fill-up such posts from promotion from all eligible and suitable employees and, therefore, it was a case of promotion, reservation rules were applicable.”Once it is recognised that the additional posts becoming available as a result of restructuring of different cadres are required to be filled by promotion from amongst the employees who satisfy the conditions of eligibility and are adjudged suitable, there can be no rational justification to exclude the applicability of the policy of reservation while effecting promotions, more so because it has not been shown that the procedure for making appointment by promotion against such additional posts is different than the one prescribed for normal promotion”, it was held in Pushpa Rani.”In the instant case, the order of the CAT was complied with. But this is a recurring issue. If another such matter comes, there will again be multiple rounds of litigation. We have had multiple representations from the department to get a clarification…restructuring is an exercise important for the efficiency of the system. We should be able to do it. Could Your Lordships please declare that where the question is of selection and not upgradation simpliciter, Pushpa Rani would hold fort?”, prayed ASG Madhavi Diwan, for the UOI.”What is the value of a declaration if it does not deal with the facts of the case? There is a ratio decidendi only if the facts are dealt with and only then it becomes a precedent, otherwise everything else is just obiter…in the creation of new posts, whether reservation is attracted has been decided in Pushpa Rani. So where is the question of a rigmarole of litigation when Pushpa Rani is there?”, reflected Justice Lalit.”The law is settled that the policy of reservation would apply to promotions. The position has been settled by Pushpa Rani, Sirothia I and II and in 2011 in BSNL v. R. Santhakumari. Why should we reiterate something that has been already laid down in these judgments?”, noted Justice Bhat.The bench finally reproduced in its order paragraphs 30 and 33 of the judgment in Pushpa Rani so far as the principle issues involved in the instant case are concerned.Click Here To Download Order[Read Order]Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story