5 THINGS FIRST PM Modi to inaugurate First Assembly of International Solar Alliance; Chief Justice Dipak Misra demits office; CongressWorking Committee meeting at Wardha, Maharashtra; Daan Utsav, India's annual week of giving, begins; Nobel prize for physics to be announced 1. Before sun set on IL&FS it became Satyam Sunset boulevard: The private sector debt ridden NBFC, Infrastructure Leasing & Financial Services (IL&FS) became a public sector company on Monday as the government took control of its management by appointing a six member board chaired by India's richest banker, Uday Kotak, MD of the Kotak Mahindra Bank — the government impressing upon the NCLT the need for speed, saying it wanted to take charge "before sunset". Toll takes toll: IL&FS, which develops and maintains toll highways, has a cumulative debt of Rs 91,000 crore ($12.75 billion) which led to repayment defaults — making its bankers squeamish about injecting more funds till it submitted a timeline for sale of its assets, which could help raise Rs 60,000 crore, according to the company's biggest shareholder, LIC, which owns more than 25% of the NBFC. Another Satyam: This is the second time that the government has taken over the management of a private sector company, though the reasons are entirely different — in 2009, following a public disclosure by Satyam Computer Services' founder, B Ramalinga Raju, of committing fraud in stating the company's revenues, the government of the day had appointed a 10-member board under the stewardship of HDFC Chairman Deepak Parekh to find a solution, which led to its eventual sale to Tech Mahindra. In confidence: The finance ministry, which issued a statement saying that the takeover was essential to restore investor confidence, also took objection over the management's decision on continuing to pay dividends and huge managerial payouts despite the impending financial crisis — ordering an investigation by the Serious Frauds Investigation Office (SFIO). Read the full story here 2. Why seized assets of fugitives doesn't mean recovery What: The Enforcement Directorate has seized fugitive jeweller Nirav Modi's properties worth Rs 637 crore. That includes jewellery, luxe apartments and bank accounts (with 'hundreds of crores') in five countries. Modi is wanted in a Rs 13,000 crore fraud. Claim & value: What next? First comes the valuation of the seized assets, which is not always what the agency claims in the first instance. In February, the agency had claimed to have seized gold and diamonds worth Rs 5,100 crore but the value turned out to be about Rs 2,000 crore. Seize and pay: When property is seized (houses, cars etc), maintaining them is the investigating agency’s responsibility, if it plans to sell them later at the right price to recover money. Maintaining seized property is a problem even the government is trying to find a solution to. Before you sell: The assets seized can't be sold by the investigating agency till the accused (Nirav Modi in this case) is convicted by a court. That's not all — the process itself has delay built into it, as it involves, firstly, attaching it, which is provisional, followed by producing papers before the adjudicating authority (under Department of Revenue in finance ministry), followed further by an appeal by the accused, for which he/she can take upto 150 days and that's assuming the ruling is in ED's favour, after which the ED takes possession of assets if the accused loses appeal in Appellate Tribunal and then wait for the accused to be convicted by the Supreme Court, after the case has gone through all the lower courts, before the ED can finally sell the assets. Scam vs fraud: The ED has still not managed to sell the assets worth over Rs 200 crore it seized in the 2G scam, so don't expect this one to end so soon. 3. For a new mobile connection, apply on Monday, get it by Friday Wait a li'l longer: With Aadhar now no longer being allowed for KYC verification for use by telecom companies, the wait for a new mobile phone connection will increase by 288 times — with Aadhar, companies could add a new customer in just 30 minutes; without Aadhar, the wait for the customer to make the first call could stretch upto 5-6 days. Wait a li'l less: Even with the utmost efficiency, the wait for a new mobile phone connection to become operational could stretch upto 24-36 hours after a customer submits an application — as telecom companies will have to carry out a physical verification of the customer's address, after collecting physical paper forms with signature, photographs, shipping them to the verification centre and calling up the customer to cross-verify submitted details. Deadlines ahead: The UIDAI has, in a notification to telecom service providers like Bharti Airtel, Reliance Jio and Vodafone Idea, among others, given them till October 15 to submit an action and exit plan for closure of use of Aadhar based authentication systems — which means, it'll still take some weeks before the Aadhar numbers already in telecom companies' database are erased from memory, both human and artificial. Read the full story here 4. When generous compensation looks like opportunistic politics Murder & compensation: The family of a tech company executive, shot dead by a policeman in Lucknow for refusing to stop his car, met Chief Minister Yogi Adityanath on Monday. "All my demands have been met," the wife of the victim said. The demands: action against the guilty (accused arrested), a job (approved), accommodation, expenses for education of daughters (relief amount of Rs 25 lakh, two fixed deposits of Rs 5 lakh each in the name of two daughters approved) and my mother-in-law (Rs 5 lakh FD approved). "The family is satisfied with the action taken," said the deputy chief minister. Police & crime: Over 25 cases of alleged fake encounters by UP police were taken up by National Human Rights Commission (NHRC) in the last four years. 209 cases of human rights violations by police (which includes 13 fake encounter cases) were reported across India in 2016. It is unlikely the compensation paid to any of the victims would be as prompt or on demand. Compensation (if any) would have varied based on the case and the situation. Compensation & policy: Such crimes are a violation of the fundamental right to life as guaranteed by Article 21 of the Constitution, which makes compensation an appropriate relief. In cases of police misconduct, it is the state that is liable to pay compensation and not the individual police officer. However, the relief a victim's family receives seems to depend on how defensive the government of the day is or how much political mileage can be drawn from it. Politics & relief: Compensation for farmer suicides follows a similar pattern. While a Rajasthani farmer's family who committed suicide at a rally in Delhi in 2015 got about Rs 25 lakh, with almost everyone from government to oppositionpitching in, other farmer families in his home state who lost the breadwinner at the same time were entitled to only up to Rs 50,000 from the government. Meanwhile, the Meerut cops who had thrashed a girl for ‘befriending Muslims’, got their punishment — a transfer order to Gorakhpur, the chief minister's constituency. NEWS IN CLUES 5. Which athlete is nicknamed the 'Dhing Express'? Clue 1: Initially she wanted to pursue football but she did not see any prospects for herself in women's football in the country, and changed her sport. Clue 2: Last month, Adidas signed an endorsement deal with the 18-year-old. Clue 3: She is among the 20 recipients of the Arjuna Award this year. Scroll below for answer 6. And the Nobel Prize for Medicine goes to... American James Allison and Japanese Tasuku Honjo.The two will share the 9-million-kronor ($1.01 million) prize for their work on harnessing a cancer patient's own immune system to destroy tumours. While previous strategies targeted the cancer cells, the scientists' discoveries focussed on the brakes, the checkpoints, of the host immune system. Their principles both worked on proteins that prevented the body and its main immune cells (or T-cells) from attacking tumour cells effectively. While 70-year-old Allison studied a known protein and developed the concept into a new treatment approach, Honjo (76) discovered a new protein that also operated as a brake on immune cells. Cancer immunotherapies are less harmful to human tissue than traditional procedures like radiation and classic chemotherapy, which reduces the likelihood of unmanageable side effects. Today, immunotherapies based on Allison and Honjo's research are approved for treating melanoma, bladder cancer, colorectal cancer, liver cancer and lung cancer. Full story here 7. India's richest sports body will now take questions The Board of Control for Cricket in India (BCCI) is covered under the RTI Act and answerable to the people of the country, the Central Information Commission has ruled. BCCI, the world's richest cricket body, operates as a private entity under the Tamil Nadu Societies Registration Act. The commission, the top appellate body in RTI matters, said the status, nature and functional characteristics of the BCCI fulfil required conditions of Section 2(h) of the RTI Act. It directed the president, secretary and Committee of Administrators to designate information officers. On Supreme Court's direction, the Law Commission had earlier this year recommended bringing the powerful cricket body under RTI, noting that it falls under the definition of a public authority and has received substantial financing from the government. Full story here 8. Why MBAs are giving up on the birthplace of MBA MBA & Trump: Global demand for business school courses remains flat but it’s falling in the birthplace of MBA, the US. Harvard University was the first business school to offer an MBA programme in 1908. The reason: the country's 'disruptive' political atmosphere that's dissuading overseas students from applying to even top business schools like Harvard and Stanford. New MBA magnets: The annual Application Trends Survey conducted by Graduate Management Admission Council (GMAC) — the body which conducts the GMAT entrance tests — shows a 7% decline in demand in the US (1.8% decline in domestic applications and 10.5% in international). However, degree courses in Asia Pacific (Singapore, Hong Kong etc.) saw an 8.9% increase in applications, Canada saw a 7.7% growth and Europe witnessed a 3.2% increase in applications. The survey is based on responses from 1,087 graduate business programmes at 363 universities in 44 countries. Read the full story here YOU SHARE YOUR B'DAY WITH... Source: Various X-PLAINED 9. The United States-Mexico-Canada Agreement What: The United States-Mexico-Canada Agreement (USMCA) — a tentative, trilateral trade pact signed between the three nations on Sunday night, replacing the North American Free Trade Agreement (NAFTA). The deal has 34 chapters and governs more than $1 trillion in trade. The plan is for the countries' leaders to sign before the end of November, after which the USMCA would be submitted to Congress. Why: US President Donald Trump had made the renegotiation of NAFTA a key plank of his presidential campaign. He blamed the agreement, in place since 1994, for wiping out US manufacturing jobs because it allowed companies to move factories to Mexico where labour is cheaper. How: With President Trump's 'America First' policy (read tariff wars) in full force, the US made a deal with Mexico in August this year. But relations with Canada over the pact had become increasingly strained in recent weeks. The Trump administration then set a Sunday midnight deadline for Canada to strike a deal. Which: In the dairy sector, US farmers will have access to 3.5% of Canada's $16 billion-a-year market. On automobiles, Canada and Mexico have a quota of 2.6 million cars as a protection for its auto industry against any move by the US to impose global tariffs. The US has a secured an agreement that more car parts must be made in areas of the country, paying $16 a hour. However: The USMCA will come up for review every six years, and is expected to give the US more leverage to make sure the arrangement is to its liking. More here Meanwhile, Trump claimed that India wanted a trade deal with the US to avoid the imposition of tariffs, similar to those imposed on Chinese products — saying that Indian products could face tariffs between 10-25% in retaliation to the 60% tariffs on US goods in India. 10. Now, know what, how much and by when to eat, at 35,000 feet Count the calories: Next time you are served your meal aboard an airline, you may not need to worry about your waistline going for a toss, as the Food Safety and Standard Authority of India (FSSAI) has initiated a move by involving all concerned stakeholders — airlines, flight caterers and airport operators — and asked them to mention details of the food served, including calorie count and best-by time, akin to the best-by date on packaged and branded food items. No more passing the buck: The FSSAI, which had earlier raised the issue of deteriorating quality of airline food, based on passenger feedback, was ostensibly told by the airlines that quality control was under the flight caterers, who in turn blamed the airport operators, claiming the delay in letting the food trucks enter the airport led to spoilage — which is why this time, all three were called in simultaneously to sort the issue. More options: The meeting chaired by the FSSAI CEO Pawan Kumar Agarwal also asked airlines to come up with healthier menu options in their inflight catering menu — the food safety body also planning on coming out with a guidance document for inflight catering that will fix responsibility for each step, right from when the food is prepared, to its packaging and its eventual service. Read the full story here Follow news that matters to you in real-time. Join 3 crore news enthusiasts. GET APP Answer To NEWS IN CLUES Hima Das. The star sprinter has joined PSU major Indian Oil Corp (IOC) as an HR officer (Grade A) and will be provided various benefits in supporting her talent, the company announced on Monday. IOC added that all the associated costs of travelling to various locations for attending national and international track & field competitions will be completely provided for by it.