Equity Bank Group Limited (EQTY.rw) HY2010 Presentation

first_imgEquity Bank Group Limited (EQTY.rw) listed on the Rwanda Stock Exchange under the Banking sector has released it’s 2010 presentation results for the half year.For more information about Equity Bank Group Limited (EQTY.rw) reports, abridged reports, interim earnings results and earnings presentations, visit the Equity Bank Group Limited (EQTY.rw) company page on AfricanFinancials.Document: Equity Bank Group Limited (EQTY.rw)  2010 presentation results for the half year.Company ProfileEquity Bank Group Limited is a leading financial institution based in Kenya which offers products and services to private individuals and small-to-medium enterprises, and the corporate banking market. It operates in six geographical markets; Kenya, Uganda, South Sudan, Rwanda, Tanzania and the Democratic Republic of Congo (DRC). The consumer division targets salaried customers or customers who receive regular remittances, such as a pension. The SME division provides financial solutions for working capital needs, property development and acquisition of assets. The corporate division targets large enterprises offering products and services that range from equity, mortgage and asset finance loans to trade finance, development loans and business loans. Formerly known as Equity Bank Limited, the commercial bank is a wholly-owned subsidiary of Equity Group Holdings Limited. Equity Bank Group Limited is listed on the Rwanda Stock Exchangelast_img read more

Down 60% in 12 months! I think this 8%+ dividend yield’s too good to resist

first_img Royston Wild owns shares of Cineworld Group. 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. 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. Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares 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. “This Stock Could Be Like Buying Amazon in 1997” Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! 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.center_img Image source: Getty Images. Royston Wild | Friday, 6th March, 2020 | More on: CINE Down 60% in 12 months! I think this 8%+ dividend yield’s too good to resist Enter Your Email Address If you’d bought shares in Cineworld Group (LSE: CINE) a year ago you could be forgiven for kicking the proverbial cat today. It’s lost a whopping six-tenths of its value since then and it’s now dealing at seven-year troughs.I’m one of those unfortunate souls who loaded up on the cinema chain prior to this collapse. It’s just over 60% for the 17 months in which I’ve held it in my own stocks portfolio.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…I’m disappointed, sure. And I’m a little bit worried about the condition of Cineworld’s balance sheet. However, if you don’t hold the leisure giant in your own stocks portfolio, I reckon it’s a brilliant buy at current prices. As well as trading on a rock-bottom forward price-to-earnings (P/E) ratio of 5.1 times it carries a monster 8.6% dividend yield for 2020.Bond gets bashedCineworld’s been one London’s biggest stock casualties this week. The ball was set rolling with news that the next big-ticket-selling James Bond adventure ‘No Time To Die’ would be delayed. A release date of April has been put back to November on fears that COVID-19 will hit takings.It was Peel Hunt’s response to the news that sent investors packing though. The broker said that delays to other popular, revenues-spinning titles are “likely” amid mass cinema closures in parts of Asia.As I say, this latest news has me somewhat concerned. I’ve spoken before about the size of Cineworld’s large debt pile, exacerbated by ambitious acquisition activity in North America. If Western audiences stay at home on fears of contracting the virus, and more major movies become subject to delayed release dates, the business may struggle to repair the balance sheet as quickly as it had hoped.Still in good shapeSo the FTSE 250 share has been a bit of a disappointment since I bought in, to put it mildly. But am I still a believer in the company’s long-term outlook? You betcha.The rule of successful share investing is to buy and hold shares for a minimum of around 10 years. Volatility is part and parcel of it, and providing that you’ve bought a company with enough quality, then it should recover from any turbulence.Cineworld is a share that I still really believe in. The timing of its acquisitions in the US and Canada — moves that have made the cinema operator the second biggest on the planet — could have been better given the threat of diving box office takings in 2020.Still, the rationale of expanding into two of the biggest markets makes perfect sense for future growth. Much has been made of depressed cinema takings more recently, but a packed film slate for 2021 and 2022 should help the global box office power to fresh record highs.Good news!Cineworld’s reassuring update today has helped calmed my nerves too. It said that it has not witnessed “any material impact” following the COVID-19 breakout and that it “continue[s] to see good levels of admissions in all our territories.” It also said that it has measures like cost reduction and capital expenditure postponement at its disposal to combat any impact of the crisis.Clearly Cineworld isn’t without risk. But I would argue that this is baked into the company’s bargain-basement, sub-10 earnings multiples. I reckon it’s one of the most attractive dip buys out there. See all posts by Royston Wildlast_img read more

Lords Committee to hear evidence on data protection after Brexit

first_img  72 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis24 Lords Committee to hear evidence on data protection after Brexit Tagged with: Brexit data data protection  71 total views,  1 views today Advertisement House of Lords EU Home Affairs Sub-Committee is to question Matt Hancock MP, Minister of State for Digital and Culture, on the European Union data protection package this Wednesday (1st February).The UK will no longer be part of the EU-US Privacy Shield or the EU-US Umbrella Agreement once it leaves Europe, and it is assumed that the UK will be treated as a third country on all other data protection issues.The purpose of the session therefore is to explore the Government’s views on the future arrangements for data sharing with the EU and the US and to identify the key safeguards in the EU’s new data protection package, which is due to be implemented in the UK by 2018.According to the House of Lords, the Committee is likely to ask Mr Hancock the following questions:Assuming the UK will be treated as a third country post-Brexit, what will be the default position as a matter of law for data flows between the UK and the EU if we haven’t secured an adequacy decision at the point when we leave the EU?What changes will need to be made to the 1998 Data Protection Act to bring it into compliance with the GDPR and the Data Protection Directive and what timeline is the Government looking at to make the necessary changes?Will the Government be seeking to obtain an adequacy decision to enable data sharing between the UK and the EU after Brexit?What will be the arrangements for data sharing between the UK and the US after the UK leaves the EU?The evidence sessions will start at 10:30am on Wednesday 1 February in the House of Lords.center_img Melanie May | 30 January 2017 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis24 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.last_img read more

CAF UK Giving Report shows drop in regular givers for third year running

first_img The number of people in the UK regularly giving to charity has declined for the third year in a row, while trust also fell in 2018 according to the Charities Aid Foundation’s latest UK Giving report, released today (7 May).UK Giving 2019 found that the proportion of the British public who are either giving money to charity directly or are sponsoring a friend or family member dropped to 65% in 2018 from 69% in 2016. The report also shows that trust in charities has decreased since 2016, with 48% of people saying they believe charities to be trustworthy, down from 51%.Fewer people also said they had been approached to donate money than in previous years, across a variety of channel including on the street, door to door and particularly direct mail, which fell from 28% in 2016 to 23% in 2018.However, although fewer people reported giving money, those who do are giving higher amounts, with the overall household amount given in 2018 comparable to 2017 at £10.1 billion. Children/young people and animal welfare jointly led the list of the causes people said they donated to in 2018, with 26% of people saying they gave to each of those causes in the past month.The number of people who said they had taken part in a charitable activity or social action, such as signing a petition, buying an ethical product, or taking part in a public demonstration or protest, in the past four weeks also fell for the third year running from a peak of 68% in 2016 to 64%.Despite the decline in participation in charitable or social action however, rates of volunteering have remained stable, as have the rates of people donating goods to a charitable cause such as a charity shop.Susan Pinkney, Head of Research at the Charities Aid Foundation, said:“With three years’ worth of data, we can now see a clear trend in people’s charitable giving and it is headed in a worrying direction. When it comes to trust, fewer than half of those surveyed (48%) said they believed charities to be trustworthy. A further 21% of people said they do not believe charities are trustworthy, an increase from 19% in both 2016 and 2017.“If people lack trust, that means they worry that their hard-earned money is not being well spent when donated to charities. This is a challenge that the entire charity sector needs to tackle head on and find ways to inspire people to give and demonstrate to them that their money is making a difference.”The report’s findings are based on monthly interviews and include a yearly total of more than 12,000 individual interviews. The report covers data collected over three years (2016, 2017 and 2018). Tagged with: Charities Aid Foundation regular giving research trust AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis27 CAF UK Giving Report shows drop in regular givers for third year running Advertisement Melanie May | 7 May 2019 | Newscenter_img Responses to the findings  446 total views,  2 views today  447 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis27 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.last_img read more

Ethanol Groups Call on Gov. Holcomb to Veto ‘Anti-Ethanol’ Senate Bill…

first_img By Eric Pfeiffer – Apr 6, 2021 Facebook Twitter Facebook Twitter Ethanol Groups Call on Gov. Holcomb to Veto ‘Anti-Ethanol’ Senate Bill 303 Indiana Senate Bill 303 is a bill that has passed the Indiana House and Senate that will require additional labeling for gas pumps that distribute E15 in Indiana. It is now making its way to Governor Eric Holcomb for his signature.“We are calling on Governor Eric Holcomb to veto Senate Bill 303,” says Tim Phelps, executive director of the Indiana Ethanol Producers Association. He says Senate Bill 303 is an anti-ethanol, anti-farmer, and anti-fuel choice piece of legislation.“We strongly believe that Senate Bill 303 will, quite frankly, and why it’s important for Indiana farmers, will directly result in less corn being ground in Indiana to go to products like E15.”Phelps points out that E15 was approved 10 years ago by the EPA and since then, Americans have driven 20 billion trouble-free miles on E15. E15 is available for use in any passenger vehicle 2001 and newer which represents 97% of cars on the road today.So, with all of that in mind, Phelps questions why Indiana would need an additional label warning consumers about E15 that could only potentially confuse them.“E15 already has a label. It’s mandated by the federal government, and it provides this guidance to consumers as to which vehicles the fuel is approved for and which it isn’t. Any state or local label is expressly preempted by both the EPA and FTC regulations. And more than that, the federal government today is undergoing a rulemaking process to make updates to that label. So, really, this is the wrong label in Indiana, this is the wrong bill for Indiana, and this is the wrong time for Indiana, and we really think that the governor should veto the bill.”And Phelps believes farmers should want the governor to veto this bill as well. He’s calling on all farmers in the state to help get that message to Governor Holcomb.“Our friends at Growth Energy have set up a convenient tool that everyone can use. You can text the term ‘VETONOW’ to 52886, and what that’ll do is it’ll set you up and you can send a note to Governor Holcomb telling him that you support E15, you want the state of Indiana to support E15 and not try to sabotage sales of E15 across the state, and urge him to veto this bill.”Plant managers from 9 Indiana ethanol plants have already sent a letter to Governor Holcomb urging the veto. Growth Energy CEO Emily Skor has also sent a letter to Holcomb.To learn more about the bill and the impacts it could have, listen to the full interview with Phelps below.Audio Playerhttps://hoosieragtoday.com/wp-content/uploads/2021/04/tim-phelps-senate-bill-303.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. SHARE Home Indiana Agriculture News Ethanol Groups Call on Gov. Holcomb to Veto ‘Anti-Ethanol’ Senate Bill 303 Previous articleWorld Dairy Expo 2021 To Remain in Madison, WisconsinNext articleHAT Market Analysis for 4/7/21 with EFG Group’s Tom Fritz Eric Pfeiffer SHARElast_img read more

Five-year jail sentence upheld on appeal against webmaster Huang Qi

first_img China’s Cyber ​​Censorship Figures News ChinaAsia – Pacific to go further ChinaAsia – Pacific March 12, 2021 Find out more Reporters Without Borders (Reporters Sans Frontières) has managed to confirm that a five-year jail sentence for “subversion” was upheld on appeal against webmaster Huang Qi, in August 2003.The organisation said it was disturbed by the court’s decision, delivered at a secret hearing. It has also learned that Huang has been moved to a prison further away from his home and that his wife has still not been allowed to visit him.”For humanitarian reasons it is essential that Huang’s wife is allowed to visit him,” said Reporters Without Borders, adding that violence to which he was often subjected, was unacceptable.The organisation called on the international community to lobby for his release and for that of 37 other cyberdissidents and Internet users who are in jail in China.Friends of Huang Qi said his appeal was heard in the week of 10 August and that it upheld the five-year jail term handed down at the earlier hearing. Huang, who created the Internet site www.6-4tianwang.com, had been held in detention since June 2000 for “attempting to overthrow the state”. His wife, Zeng Li, was informed of the court decision at the end of August. The two lawyers who defended Hung as far as the appeal, had come under strong pressure from the authorities and decided to withdraw from the case. They also advised his wife not to launch a fresh appeal.During the appeal hearing, guards are said to have ill-treated Huang, holding him down by the throat when he tried to protest at the fast track nature of the case.Huang was moved in September 2003 to Chuan Zhong prison (200 kms east of the Sichuan provincial capital of Chengdu where he was held previously) but his wife has still not been permitted to see him. She sent him several letters that never arrived. She has to find nearly 500 RMB (yuans) a month to ensure that he is properly fed. Only his former lawyers have been occasionally permitted to visit him. Receive email alerts October 8, 2003 – Updated on January 20, 2016 Five-year jail sentence upheld on appeal against webmaster Huang Qi Organisation Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes Follow the news on China Help by sharing this information Webmaster Huang Qi was sentenced on appeal to a five-year jail sentence after a secret hearing in August. Cyberdissident was later moved to a prison located 200 kms from his house. His wife has still not been permitted to see him. June 2, 2021 Find out more RSF_en China: Political commentator sentenced to eight months in prison News April 27, 2021 Find out more News Newslast_img read more

Two journalists investigated over article about gays in Oman

first_img November 25, 2016 Find out more September 5, 2013 – Updated on January 20, 2016 Two journalists investigated over article about gays in Oman Help by sharing this information Follow the news on Oman RSF_en October 18, 2016 Find out more Joint letter to the Sultan of Oman on the right of press freedom and the targeting of journalists and human rights defenders News OmanMiddle East – North Africa Receive email alerts to go furthercenter_img OmanMiddle East – North Africa News Organisation News Oman: Court postpones verdict of “Azamn” journalists, in a trial held below international standards, according to trial observation report Appeal court lifts ban on daily, but confirms jail for two journalists December 27, 2016 Find out more News Reporters Without Borders condemns the judicial proceedings started today against Samir Al-Zakwani, the editor of the local English-language weekly The Week, in connection with article entitled “The Outsiders” about gays in Oman, which has been widely criticized in the sultanate, especially on social networks.The article, whose anonymous author is also being investigated, was published in the newspaper’s print edition and on its website on 29 August, and was removed from the website three days later.Prominent critics of the article have included Shura Council member Tawfiq Al Lawati. Referring to gay sex, he said: “Promoting such an act and projecting Oman as a safe haven for homosexuality is unacceptable.” The Omani Journalists Association has also “strongly condemned” the article and urged the information ministry to punish the newspaper.Responding to the online outcry, Shura Council chairman Shaikh Khalid Bin Hilal Bin Naseer Al Maa’wali said the council would look into the issue.In a statement released today by the official Oman News Agency, the information ministry said it “does not allow harming the fundamentals, principles, and values of the society or undermining its moral and religious values.”After removing the article from his website on 1 September, the publisher Saleh Al-Zakwani posted the following apology: “The Week places on record that there was never any intention to knowingly or unknowingly cause harm, offend, or hurt the sentiments of the people with our article last week, and we deeply and sincerely regret the article. The Week issues a public apology to our readers whose opinion we respect.”last_img read more

Guinean website editor threatened, shots fired at home

first_img Reporters Without Borders (RSF) condemns last week’s shooting attack on the home of Abdoul Latif Diallo, the editor of the Dépêche Guinée news website, and calls for a prompt investigation by Guinea’s authorities in order to identify those responsible. News Help by sharing this information © Africaguinee.com News News News February 6, 2018 Guinean website editor threatened, shots fired at home to go further GuineaAfrica Organisation Guinean journalist finally freed after being held for nearly three monthscenter_img Receive email alerts GuineaAfrica May 19, 2021 Find out more Guinean journalist’s continuing detention is “incomprehensible,” RSF says Follow the news on Guinea April 15, 2021 Find out more Guinea : RSF and AIPS call for release of two imprisoned journalists RSF_en Around ten shots were fired at Diallo’s home in a northern suburb of Conakry on the night of 31 January. Diallo told RSF that he had received death threats a few days before the attack and that he thought he was the target of the shots, which went through his living room.He said he was not able to identify those responsible for the shooting or the threats, but he thought they were linked to sensitive stories he recently covered. One of his recent articles was about the alleged involvement of senior members of the national gendarmerie in the murder of the head the treasury department in November 2012. One of these senior officers, Gen. Ibrahima Baldé, tried to contact Diallo in order to “negotiate,” but Diallo refused.“Any form of intimidation or threat designed to prevent journalists from doing their job is completely unacceptable,” RSF said. “The Guinean authorities much launch an investigation without delay in order to shed light on this attack and on the death threats. They have a duty to guarantee the safety of journalists, who must be able to do investigative reporting with complete freedom and without being subjected to any pressure.”Diallo filed a complaint against persons unknown but so far there has been no reaction from the police and judicial authorities or from the High Council for Communication. He said he would nonetheless “not be discouraged” and would continue his investigative reporting “despite everything.”Guinea is ranked 101st out of 180 countries in RSF’s 2017 World Press Freedom Index. April 9, 2021 Find out morelast_img read more

Investors Sue Federal Government Over GSE Profits

first_img Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Investors Sue Federal Government Over GSE Profits The Best Markets For Residential Property Investors 2 days ago Investors led by New York-based hedge fund giant Pershing Square Capital Management sued the United States government, alleging that common stockholders in Fannie Mae and Freddie Mac have been shortchanged since the government began sweeping profits from the GSEs into the U.S. Department of Treasury starting in 2012.Three individual common shareholders along with Pershing Square alleged in the complaint that the diverting of GSE profits into Treasury equates to taking private property for public use without “just compensation,” a practice forbidden by the Fifth Amendment of the U.S. Constitution. Pershing Square claims in the lawsuit that the diversion of GSE profits created a “windfall” for the government while shortchanging GSE shareholders.With more than 63 million shares in Freddie Mac totaling approximately $246 million and more than 115 million shares worth about $448 million in Fannie Mae, Pershing Square is by far the largest non-governmental owner of GSE common stock. Pershing Square’s share in both GSEs computes to about 10 percent. The three individual investors that combined with Pershing Square in the lawsuit are Josephine and Stephen Rettien, a married couple who purchased common stock in Fannie Mae approximately 15 years ago, and retired nurse Louise Rafter, who has held common stock in Fannie Mae for more than 25 years.The lawsuit, which was filed with the U.S. Federal Court of Claims in Washington, D.C., is one of several similar suits filed in the last 14 months. In July 2013, hedge fund Perry Capital sued the federal government over Treasury’s sweeping of GSE profits. In June 2013, private shareholders filed a suit seeking $41 billion in damages for the same reason.William A. Ackman, CEO of Pershing Square Capital Management, declined to comment on the lawsuit when reached by phone. Spokespeople from the Treasury Department and the Federal Housing Finance Agency, also declined comment. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: FHFA Hears from Groups on Proposed Increase in G-Fees Next: Demand for Compliance Services Grows Tagged with: Fannie Mae Freddie Mac Government hedge fund Lawsuit U.S. Department of Treasury Related Articles Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 15, 2014 935 Views Fannie Mae Freddie Mac Government hedge fund Lawsuit U.S. Department of Treasury 2014-08-15 Brian Honea About Author: Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, Headlines, News Investors Sue Federal Government Over GSE Profitslast_img read more

No Absolute Bar On Permitting Residential Use Of Paddy Land Even If Property Was Purchased After The Commencement Of Act : Kerala HC

first_imgNews UpdatesNo Absolute Bar On Permitting Residential Use Of Paddy Land Even If Property Was Purchased After The Commencement Of Act : Kerala HC LIVELAW NEWS NETWORK26 July 2020 7:52 AMShare This – xThe High Court of Kerala has held that there is no absolute prohibition in considering an application seeking permission to use paddy land for residential purposes, even if the property was purchased after the commencement of the Kerala Conservation of Paddy Land and Wetlands Act 2008(‘The Act’).Holding thus, a single bench of Justice Alexander Thomas set aside the order passed by the…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 High Court of Kerala has held that there is no absolute prohibition in considering an application seeking permission to use paddy land for residential purposes, even if the property was purchased after the commencement of the Kerala Conservation of Paddy Land and Wetlands Act 2008(‘The Act’).Holding thus, a single bench of Justice Alexander Thomas set aside the order passed by the District Collector which rejected an application seeking permission under Section 9 of the Act for use of purpose of residential use.The Court was considering a writ petition filed by one K Murali, who sought such permission on the ground that he belonged to urban poor category.The District Collector referred to a 2017 decision of the Kerala HC in Thankachan v. District Collector [2017 (3) KLT 35], which held that a person who obtained the property after the commencement of 2008 Act cannot seek permission for converting it for residential use.The petitioner’s counsel, Advocates Lindons C Davis & E U Dhanya, contended that the rejection of the application merely on the ground that the property was obtained after the commencement of the Act, without considering other relevant factors, was arbitrary and also violative of right to property under Article 300A of the Constitution.It was also pointed out that the division bench decision in Yousuf Chalil v.State of Kerala [2019 (4) KLT 33] had observed that there was no express prohibition in considering such an application.Taking note of the division bench decision in Yousuf Chalil, Justice Alexander Thomas held :”In the light of the abovesaid categorical view rendered by the Division Bench of this Court in Yousuf Chalil’s case (supra) [2019 (4) KLT 540], the approach made by the 2nd respondent District Collector as if an application preferred by a party like the petitioner seeking the benefit of Sec.9 of the 2008 Act for permission to construct a residential building in the limited extent of land should be automatically dismissed or rejected merely on the ground that the party concerned has obtained the said property after coming into force of the 2008 Act by itself cannot be justifiable. Such a strict approach made by the 2nd respondent, District Collector as per the impugned Ext.P6 separate order, may not be justifiable or warranted in the light of the categorical views rendered by the Division Bench of this Court in Yousuf Chalil’s case (supra) [2019 (4) KLT 540]”.The Court however clarified that it does not mean that the application should be automatically allowed. The Court disposed of the writ petition directing the authorities to consider the application afresh by ascertaining the correctness of the assertions of the petitioner.Case Title : K Murali v State of KeralaClick here to download judgmentRead JudgmentSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more