A medicine developed by EU-funded researchers has been approved to treat children with the degenerative and fatal genetic disease Duchenne muscular dystrophy. A major clinical trial is expected to announce positive results soon.

An EU-funded project is developing software designed to prevent, detect and act on cyberattacks on smart meters in big infrastructure installations, boosting the security of our power supplies.

EU-funded researchers hope a greater understanding of interactions between pertussis bacteria and the immune system, together with a toolkit for testing new vaccines, will help prevent whooping cough disease and deaths in babies worldwide.

Treatment guidance for prostate cancer patients is not optimal because current clinical tests do not clearly differentiate between slow-growing and aggressive forms. An EU-funded project is addressing this by studying the underlying molecular mechanisms of the disease to enable personalised and effective treatment.

An EU-funded project promoted the exchange, display and transfer of innovative fertigation technologies which combine fertilisation with irrigation. This approach will help farmers to use limited water resources more sustainably while reducing harmful nutrient losses to the environment.

EU-funded researchers have developed innovative genetic reprogramming techniques to replace and repair brain cells, opening up novel therapeutic pathways to combat debilitating disorders such as Parkinson's and Huntington's disease.

An EU-funded project has linked scientists with experts in industry to forge partnerships aimed at creating new products to improve the lives of people with dementia. The research is creating tools to help remind people with dementia to undertake the tasks critical to their daily lives.

Around 40% of EU energy consumption and 36 % of its CO2 emissions come from buildings. EU-funded researchers have developed easy-to-install eco-panels to place on the outside of the buildings to dramatically cut both.

The fashion industry has been linked to pollution, waste, and modern slavery. In light of this, an EU-funded project led a series of successful experiments designed to spark radical, sustainable change while, at the same time, uniting Europe's textile and clothing businesses.

England football club Chelsea on Sunday confirmed that the legendary goalkeeper Peter Bonetti passed away at the age of 78 after a battle with long-term illness.

Bonetti was nicknamed as 'The Cat' due to his superb reflexes and he went on to feature in 729 games for Chelsea. He is on the second spot in the club's list of all-time appearances after Ron Harris. Bonetti also held the record for the cleanest sheets as a Chelsea goalkeeper until January 2014, when Petr Cech surpassed him.

"Peter Bonetti's position in the pantheon of Chelsea footballing gods is unassailable. He was the Cat who broke the mold, defied the odds, drew the gasps, earned the cheers and got the cream. All in front of an adoring Stamford Bridge," Chelsea FC said in an official statement.

During his stint with Chelsea, Bonetti managed to win the 1965 League Cup and the 1970 FA Cup.

He was also the first to recognise a role for gardening gloves, leading to his Peter Bonetti-branded specialist gloves which were a first and so successful they were sported not only by kids up and down the land but by many of his contemporaries at the top level of the game too.

Bonetti also played seven matches for England and served as number two behind Gordon Banks during the team's FIFA World Cup-winning run in 1966.

After an FA-led campaign years later which persuaded FIFA to reward every squad member, Bonetti was presented with a medal by Prime Minister Gordon Brown at Downing Street in 2009.

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Cristiano Ronaldo and his Portugal teammates have donated half of their bonus for qualifying for the Euro 2020 finals to help amateur football in the country that has been hit by the coronavirus shutdown. The Portuguese football federation said on Monday the money would go towards a fund that it hopes will reach 4.7 million euros ($5.1 million) to help amateur clubs survive the crisis.

The federation last week decided to end the already-suspended amateur season with immediate effect, declaring the season null and void without champions, promotion or relegation. No decision has been taken on resuming professional football but the president of the Portuguese league said in late March he was determined the season should be completed.

"It is fundamental that the championships end because it would allow some sort of normality to be restored and we could prepare for next season knowing who has qualified for international competitions, who the champions are and who is relegated," Pedro Proenca said. Portugal shocked host nation France to win Euro 2016 but Ronaldo and his teammates will have to wait another year to defend their title as Euro 2020 has been postponed by 12 months because of the coronavirus pandemic.

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Manchester United midfielder Jesse Lingard is in lockdown in the UK due to the Coronavirus but that hasn't stopped him from keeping in touch with Playboy model, Laura Bragato (right). Italian Laura told British tabloid, The Daily Star that Jesse has been texting her while in self-isolation. "I spoke to Jesse yesterday, and he is staying home like the rest of us. He is safe. In Italy here we are all in lockdown, it's been one month and I hope everything is going to start again here. When it's over, I can't wait to travel. I want to spend my summer in Spain and London" Laura said on Tuesday.

Jesse Lingard

Laura became famous in 2018, when she claimed that her 'lucky' behind would help Italy beat England in the FIFA World Cup. The match ended 1-1 but her pre-match comments, hoping for Jesse to score, saw her earn lakhs of online fans instantly.

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Most international football might not be played until 2021 due to Coronavirus pandemic travel restrictions and the need to give club competitions the chance to resume, a FIFA vice president has said. Victor Montagliani, a Canadian, who is president of the governing body for North and Central America and the Caribbean, has been heading a FIFA working group formulating plans to deal with the implications of the world's biggest sport being largely shut down since last month.

FIFA already has called off matches between countries that were due to be played in March and June. Montagliani, CONCACAF's president, believes the September, October and November windows for national team matches could be scrapped. "I personally think that might be a bit of a challenge, not so much because of just the health issues around the world and the various degrees of preparedness, but also committing to international travel as soon as we come back," Montagliani told The Associated Press.

Montagliani

"I think that domestic football is a priority. September is still in the books, but I would garner to say that I'm not sure it's there on solid ground the way things are trending right now." The return of fans into packed stadiums could be dependent on a vaccine for the COVID-19 disease being ready—and that might not be until 2021. "If we get the green light to play a football match. I highly doubt that first football match will be with fans. I just can't see that. I think that would be taken a massive risk," he said in a video interview from Vancouver, British Columbia.

"I'm pretty sure it'll be a phased in approach, just like the rest of society is going to be is then in terms of us trying to get back to normal here."

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Former FC Barcelona captain Xavi Hernandez admits that one day he would like to return to coach the Catalan giants. Xavi is currently in charge of Qatari club Al-Sadd and in January rejected the chance to replace the sacked Ernesto Valverde at the club. However, in an interview on YouTube, he admitted that his ambition is to coach in the Camp Nou, Xinhua news reports."

"Now I have tried as a coach, I think I'm able to do it and it is a dream to be able to return to Barcelona." "I have said it many times, that I consider Barcelona to be my home and my life," he said.

"I am learning a lot here in Qatar and although saying I want to coach Barca is a big statement and you have to be properly prepared in order to do so, it is a process and I hope one day to get there," commented Xavi, who added that for the moment he was content living in Qatar.

Earlier, six FC Barcelona board members stepped down and told president Josep Maria Bartomeu they are not pleased at how the club is being managed.

According to a BBC report, the six board members expressed their concern over the financial implications in a joint letter amid the coronavirus crisis.

"We have arrived at this point because we cannot reverse the way the club is managed in the face of important challenges in the future, especially in the post-pandemic era," the six said in their letter as quoted by BBC.

"We also want to show our displeasure over the unfortunate episode about the social media accounts, known as 'Barcagate', which we learned about through the press.

"As our last act of service to the club, we recommend that elections are called as soon as circumstances permit so that the club can be managed in the best way possible and deal with the important challenges of the immediate future."

In response to the resignations, Barca said they have come about "due to a reorganisation of the board put forward by Bartomeu and which will be completed in the next few days".

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England footballer Dele Alli turned 24 recently and celebrated despite being in isolation due to the Coronavirus pandemic. The Tottenham star posted pictures of his April 11 birthday celebration on social media where he played games like Twister and Pin the tail of the donkey. "Turning 24 in isolation wasn't so bad," Dele captioned his Instagrammed pictures. Dele loves his Playstation and so it was no surprise to see his cake in the shape of a PS controller.

Dele was even seeing enjoying a barbecue lunch in his garden, wearing a cute, silver conical cap and shades. His 7.1 million Instagram followers enjoyed his posts, giving him over five lakh 'likes'.

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There is a famous saying, "Love has no age." Well, Brazilian footballer Neymar's mother Nadine Goncalves is definitely a believer in the saying as she recently made headlines for revealing that she is romantically involved with a man named Tiago Ramos who is way younger to her.

Neymar's mother Nadine, age 52, is currently dating gamer Tiago Ramos who is 22 years of age. Not only is Tiago 30 years younger to Nadine, he is even 6 years younger to her son Neymar, age 28.

Neymar's mother Nadine Goncalves took to social media site Instagram to announce that she is in a relationship with Tiago Ramos and also shared a photo of the two embracing each other. Neymar's mother Nadine captioned the photo in Portuguese, "O inexplicável não se explica, se vive (The inexplicable cannot be explained, you live it…”). See the post below.

 

 

 

View this post on Instagram

O inexplicável não se explica, se vive... ❤️

A post shared by Nadine Gonçalves (@nadine.goncalves) onApr 11, 2020 at 3:49pm PDT

Nadine and Neymar's father and agent Wagner Ribeiro parted ways in 2016 after 25 years of marriage. Meanwhile, not only is Nadine's new relationships approved by son Neymar and her ex-husband, they also support the couple and show their happiness.

Commenting on the Instagram post, Neymar wrote ‘Be happy Mom, Love u’ while her ex-husband Wagner simply posted applause emojis.

Tiago Ramos is a huge gamer as well as a fitness enthusiast and has admitted to being a fan of Neymar who plays for French club Paris St. Germain.

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The father of Paris Saint-Germain star Neymar has said that the Brazilian forward will decide his next career move for himself.

Dismissing claims that he heavily influences his son's key decisions, Neymar Santos Sr said his priority was to provide moral support for the 28-year-old, reports Xinhua news agency.

"He is always the one who chooses which path to take," Neymar Sr said in an Instagram Live video on Wednesday. "We only work administratively: to make sure he has the best contract, to put him in the best home and have the best career management."

He described Neymar's 2013 move to Barcelona as the realisation of a "childhood dream". But the 55-year-old, who has acted as Neymar's agent since 2011, denied speculation the 28-year-old could return to the Camp Nou this summer, insisting he is happy at the Parc des Princes.

In a wide-ranging conversation with Brazilian journalist Beto Saad, Neymar Sr also revealed that the former Santos prodigy was close to joining Corinthians instead of Barcelona.

"We were close to signing a deal. But I said to Neymar, 'Go (to Barcelona) first. Carve out a career there and then we'll talk about it'," he added.

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Former Arsenal star Serge Gnabry is not just succeeding professionally at his new club Bayern Munich, but also on the personal front. Serge, 24, has been in top form, having scored a brace against Chelsea recently, making it six Champions League goals this season.

Now, off the field, it is learnt that he is dating top Swiss model Sandra Jerze, 23. According to German newspaper Bild, the couple has been dating for three weeks now and spent the Easter weekend together in Munich. Model Sandra has also done a few acting stints besides featuring in German artist Pietro Lombardi’s music video, Phenomenal.

Initially, it was rumoured that Sandra was dating Pietro before latest reports confirmed she’s in a relationship with Serge.

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Leeds United legend Norman Hunter died on Friday at the age of 76 after testing positive for coronavirus. "Leeds United are devastated to learn of the passing of club icon Norman Hunter at the age of 76," the club said in a statement. "Norman was taken to hospital last week after being diagnosed with COVID-19 and despite continuing to battle and the best efforts of NHS staff, he sadly lost his fight earlier this morning," the statement added.

Hunter made his Leeds debut in 1962 when he was just 18 years old. Hunter amassed a huge 726 appearances for Leeds United over a 14 year period, the club's most successful to date, earning the infamous nickname "Bites Yer Legs".

He won a total of 28 caps for England and was in the 1966 World Cup-winning squad, whilst was also the first winner of the PFA Players' Player of the Year in 1974.

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Former Manchester United and Real Madrid midfielder David Beckham rates Barcelona's Lionel Messi higher than Cristiano Ronaldo. Ronaldo succeeded Beckham as Manchester United's No. 7 before arriving at Real Madrid two years after the England captain left the Spanish giants.

Beckham has also experience of playing against a young Lionel Messi in the latter's initial years with Barcelona and faced him once while he was playing for Paris St Germain. "He [Messi] is alone in his class as a player, it is impossible that there is another like him," Beckham told Telam.

David Beckham

"He, like Cristiano Ronaldo, who is not at his level, are both above the rest." Beckham recalled his last match against Barcelona in the quarter-final of the 2013 Champions League. PSG were ahead at one stage at Camp Nou when Messi came on as a substitute. Eventually, Pedro scored and Barca went through on the away goals rule.

"We were leading before Messi came in, and once he came in, Barcelona scored," Beckham said. He was 37 years old by then and ended his illustrious playing career at the end of the season but Beckham said that he did not enjoy losing that tie.

"Although I enjoyed playing at that level at my age, I do not like to lose. Our team played well. In both matches, we did things we should be proud of. We didn't lose against Barcelona, and that is something that should motivate us," he said.

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Wayne Rooney may be Manchester United and England's record goalscorer but he still believes he should have found the back of the net more often during his career, even though he was not a natural finisher. Rooney, a teenage sensation at Everton, joined United in 2004 and went on to score 253 goals in 559 appearances during a 13-year spell for the Old Trafford club that saw the Red Devils pile up the trophies. Rooney surpassed 1966 World Cup-winner Bobby Charlton as United's all-time leading scorer, just as he did for England with a tally of 53 goals from 120 caps.

Despite those figures Rooney, writing in his Sunday Times column, insisted: "I'm going to be honest -- and this might surprise you -- but I'm not a natural goalscorer." The 34-year-old, now a player-coach at second-tier Derby County, added: "I was never a Gary Lineker or a Ruud van Nistelrooy; I never looked at myself that way. "I hold the goal records for Manchester United and England and am very proud about that -- yet there have been better No 9s than me. "How did I become a record-breaker if I wasn't a natural scorer? Time," Rooney explained. "I played for United for 13 years, England for 15 years. I had time to break those records -- and looking back I should have scored more."

Rooney backed Harry Kane to break his England record, although he would like the Tottenham Hotspur striker "to stay high as that No 9" after seeing him drop deeper in during the past two seasons. "I don't think it will take long for Harry Kane to claim my England record and it would be a proud moment for me," Rooney said. "I've never been a selfish player and it would be great for England for Harry to get there. Bobby Charlton had to wait 50 years (for Rooney to break his England record) -- I hope it's not so long for me. "The United record might last longer simply because players don't stay at clubs as long as they used to. "Mind you, if (Lionel) Messi or (Cristiano) Ronaldo came to Old Trafford for a swansong they'd probably break it in three or four years."

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Italian football legend Francesco Totti has revealed that he nearly ended his marriage with TV presenter Ilary Blasi when she decided to bring home a sphinx cat, a hairless breed.

FIFA World Cup winner Francesco, who married Blasi in 2005, two years after they began dating, told former teammate Christian Vieri in an Instagram Live chat: "I was furious with my wife…she bought a hairless cat and called it Donna Paola. At night, the cat insists on sleeping in our bed, next to our legs. She's a very affectionate cat but almost caused us to break up."

Ilary got the cat home against Francesco's wishes. "She wanted a cat at all cost. I was adamant we shouldn't. One day, she brought it home because ultimately she makes all the decisions in this family," he added. The couple did not talk to each other thereafter before Francesco started liking the feline. "We didn't speak for days, but in the end, I fell in love with the cat too," said Francesco, who retired from football in 2017 after spending 15 years at Italian club Roma, where he scored 307 goals from 785 matches.

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LA Galaxy midfielder Joao Pedro has made sensational claims that his former teammate Zlatan Ibrahimovic went on an angry rant in the dressing room after team's defeat in the final match of 2018 Major League Soccer (MLS) season. Despite taking a 2-0 lead, Galaxy lost to Houston Dynamo in the final match of the season on home turf as one of the most recognised American football teams ended the season at a lowly 13th place.

Ibrahimovic, who is known for his unnerving winning mentality, lashed out at his teammates after the end of the match and even went on to the extent of threatening to kill them, according to the Swede's former teammate Pedro, who is currently on loan from Galaxy to Tondela in Portugal.

"At the end of the game, he gave us a talking to," Pedro was quoted as saying by a Portuguese outlet Record. "He said ‘if you are going to come here to go to the beach or take a walk in Hollywood, just say so. I have 300 million on my account, an island, I don't need this for anything. The first one who says something to me, I will kill him'."

Despite not adding any trophy into his bulging cabinet in the USA, Ibrahimovic scored 52 goals in his two MLS seasons. After his goal-laden spell in North America, Ibrahimovic returned to Europe for his second spell with Italian giants Milan.

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Former Liverpool mid-fielder Jamie Redknapp fears arch-rivals Manchester United are set to beat his former club for the signing of Borussia Dortmund forward Jadon Sancho. The 20-year-old Englishman is currently one of the most sought-after players in European football and Redknapp believes Sancho will end up in Premier League sooner than later with the Red Devils in pole position to snap the hot shot winger. "I think it is a matter of time with Jadon Sancho coming to the Premier League. We are talking about a genuine superstar. A player that can do incredible things with the ball. Played 70 odd games in the Bundesliga, scored 27 goals from a wide area which is very good," Redknapp told Sky Sports.

"We have missed out on the likes of the Neymars in the Premier League but he can come and really light it up. Personally I would call it. He will be a great signing for whoever he goes to. "I would like to see him at Liverpool, but I think he is going to end up at United though," he added. Since making the move to Bundesliga from Manchester City in 2017, Sancho's rise has been nothing but meteoric. In the last two seasons for Dortmund, Sancho has scored 20 goals and assisted 28 times for the German giants.

Speculations continue to surround Sancho regarding his big move to the Premier League with multiple top teams interested. Dortmund, meanwhile, have made it clear that it will take big bucks to prize Sancho away from the Signal Iduna Park.

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Indian Super League (ISL) side Kerala Blasters on Wednesday appointed Mohun Bagan's I-League winning coach Kibu Vicuna as their head coach for the upcoming season. This came hours after the franchise announced that it has parted ways with Eelco Schattorie after one season at the helm of affairs. "We are happy to announce that Kibu Vicuna will take over as head coach for the upcoming season!" Kerala Blasters said in a tweet. Spain's Vicuna oversaw Mohun Bagan win the title with four rounds to spare. The league was suspended midway due to the COVID-19 pandemic and later had to be called off with Mohun Bagan declared champions.

Mohun Bagan have merged with ATK to enter the ISL from next season with Antonio Lopez Habas, who coached ATK to their record third title, in charge of the combined outfit. Dutchman Schattorie was in charge of the Kochi-based outfit in the ISL 2019-20 and could only guide the club to a poor seventh-place finish. "Kerala Blasters FC have parted ways with the Head Coach, Eelco Schattorie. We'd like to thank Eelco for his efforts and services during his tenure and wish him the best for the future," Kerala Blasters had tweeted earlier in the day.

The 48-year-old first landed on Indian shores when he took over Kolkata-based Prayag United back in 2012. He went on to win the IFA Shield and guided the team to a fourth-placed finish in the I-League. After serving as the head coach for Kolkata giants East Bengal for the 2015 season, he joined Avram Grant's NorthEast United setup for parts of the 2016 ISL season, before taking over as head coach for the 2018-19 campaign.

In his very first season as a head coach in the ISL, Schattorie showcased immense tactical guile and took Guwahati-based NorthEast United to the semi-finals for the first time since the club's inception, before being knocked out by eventual champions Bengaluru FC. After leading the NorthEast United to their best-ever campaign in the club's history, Schattorie replaced Nelo Vingada as the Kerala Blasters head coach heading into ISL 2019-20.

The Dutchman, however, could not replicate the same success in Kerala which he had achieved with the NorthEast United as several factors came into play. A host of recurring injuries to key players, including a season-long one to stopper Sandesh Jhingan, severely handicapped Kerala's campaign as they finished seventh on the table with 19 points from 18 matches.

Despite not making the top four, Schattorie's Kerala side found a lot of admirers for their free-flowing attacking style of football.

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Former England footballer Rio Ferdinand's wife Kate has said that while she was initially 'anxious and stressed' with the Coronavirus-caused lockdown, she is now spending most of her time homeschooling her three children Lorenz, 13, Tate, 11, and Tia, nine. Kate, 28, in association with an online education company, has launched a free toolkit of edutainment activities for primary school children to help those homeschooling during the current lockdown.

"At the beginning of lockdown, I felt a bit anxious and stressed. I didn't have any routine but this is something to do every day. You feel like you're in a little community doing it together," Kate, 28, told Britain's MailOnline.

Speaking of the homeschooling experience, Kate said that she and hubby Rio, 41, are trying their best to make things fun: "For the first three weeks of homeschooling, I was overwhelmed. It's quite hard for us having three children and all having sessions at different times. It's about trying to get the balance of making it fun as well as doing school work and trying to manage a good family life."

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Wales attacker Gareth Bale has said that he had donated ?500,000 ($615,000) to the hospital where he was born to help in the fight against the coronavirus pandemic. Real Madrid's Bale, 30, who has won four Champions League titles since joining the Spanish giants in 2013, made the announcement in a Twitter post by the Cardiff and Vale Health Board.

"I just wanted to make this video to thank everybody in the NHS for their hard work and sacrifice during this COVID-19 crisis," he said "The University Hospital of Wales holds a special place in my heart, it's where I was born and it's provided great support to my friends, my family and the wider community. "Me and my family we'd like to show our support. Keep up the good work, you're doing an amazing job and thank you very much," he added.

As of Wednesday 624 people had died from the illness in Wales with more than 8,000 cases recorded. Spain's La Liga has been suspended since March 12 due to the outbreak but football authorities in the country have agreed on a return to protocol for professional players.

League president Javier Tebas last week said play could restart as early as next month, although a fortnight extension of the nationwide lockdown until May 9 announced on Saturday appears to have scuppered those plans.

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Former England footballer Peter Crouch has plans to enter the Crufts, an international dog show held in UK, and walk away with the trophy. Peter and his model wife Abbey Clancy, who have a new Labrador named Sonny, were denied entry this March. And the football star is determined to win the coveted title with his pet dog in 2021.

In the latest episode of That Peter Crouch Podcast, Peter said: "We couldn't get into Crufts last time so we're trying to train this bad boy up."

Meanwhile, Abbey revealed: "He likes getting in the cage with the dog. The dog cage is the biggest one we could get on Amazon. And it does fit Peter and all four children and the dog. He's trying to train him for little biccies. He's a good trainer. He doesn't like to fail at anything. So after the whole Crufts episode, he said, 'I'm gonna train a dog then I'm gonna enter it into Crufts'."

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João Félix exploded onto the scene at Benfica in 2018 before a huge summer move to LaLiga with Atlético de Madrid. Here are five things you may not know about the Portuguese superstar...

1. His idol while growing up was Kaká
The similarities between the two are clear, both in playing style and appearance… brothers, anyone? But what isn’t so known is that Kaka was actually one of Joao Felix’s biggest idols growing up: the young Felix has spoken of watching YouTube video after YouTube video of the former World Player of the Year. The 20-year-old has also named Portuguese legend Rui Costa among his other inspirations while growing up.

2. Both his parents are teachers
Carlos and Carla, Joao’s parents, are both physical education teachers and he credits them with keeping him centred growing up. He has explained in interviews that his father would give him pep talks before matches and helped him stay focused during his teenage years; at the age of just 13 years he moved away from home to FC Porto’s academy, before later making the move to the capital with Benfica.

3. His first hat-trick in the Europa League was record-breaking
In April 2019, Joao hit the headlines across Europe with a stunning performance for Benfica in a Europa League match against Eintracht Frankfurt. By scoring three times in a 4-2 victory, he became the youngest ever player to score a hat-trick in the Europa League, doing so at the age of just 19 years and 152 days. That broke the previous record set by Marko Pjaca in 2014.

4. Diego Costa has taken him under his wing
From the start of pre-season, Joao and Diego Costa have forged a strong relationship. Costa is known to be a leader in the Atlético de Madrid dressing room and he quickly took the new arrival from Benfica under his wing, spending a lot of time with him and partnering with him in various drills. Both players are native Portuguese speakers, and this has helped the youngster settle in. Perhaps it’s no coincidence that it was Costa who assisted Joao’s first official goal for Atleti, against Eibar back in September.

5. His brother Hugo is also a highly rated prospect
Hugo Felix, João’s 16-year-old brother, is also highly rated and is doing well at Benfica’s academy. João was even able to celebrate goals with his brother last season, as Hugo was a ball boy at the Estádio da Luz on some matchdays. One particular goal that he scored against Vitória Setúbal ended with an emotional embrace between the siblings.

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Former Brazilian footballer Ronaldinho pleaded his innocence while speaking for the first time after spending 32 days in a Paraguayan prison. The former Barcelona forward is currently under house arrest in a hotel in Asuncion after he was arrested along with his cavalry for entering the country with forged documents.

Ronaldinho has insisted he didn't know his documents were illegal and also stated he showed full cooperation with the authorities in the aftermath of the airport fiasco.

"We were totally surprised to learn that the documents were not legal," Ronaldinho told ABC Color. "Since then our intention has been to collaborate with the justice system to clarify the facts.

"From that moment until today, we have explained everything and facilitated everything that has been requested of us.

"It was a tough blow, I never imagined that I would go through such a situation. All my life I have sought to reach the highest professional level and bring joy to people with my football," he added.

Ronaldinho also revealed what his plans are after he is allowed to go back to his home nation once investigation ends.

"The first thing will be to give a big kiss to my mother, who has lived through this difficult phase since the start of COVID-19 pandemic, at her home."

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Football legend Diego Maradona, the manager of struggling Argentinian club Gimnasia y Esgrima La Plata, has praised the decision to suspend relegation from the country's top division until 2022.

The Argentinian Football Association (AFA) confirmed the move on Tuesday as it cancelled the rest of the top flight season amid the ongoing coronavirus pandemic.

The move spares Gimnasia from an almost certain drop to the second division, reports Xinhua news agency.

"It's not the end that we would have wanted, but it's a good decision," the 1986 World Cup winner told Argentinian newspaper Clarin.

"We were convinced that we were going to avoid relegation anyway. But this is reward for a group that has given everything for this club."

Gimnasia needed a strong showing in the Superliga Cup to have any chance or remaining in the top tier under Argentina's complex promotion-relegation system that considers results over a three-year cycle. The Cup competition was aborted last month after just one round.

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Legendary former India footballer Chuni Goswami, who captained the 1962 Asian Games gold-winning team, died on Thursday after suffering a cardiac arrest.

Former Indian footballer Chuni Goswami passes away due to cardiac arrest in Kolkata, West Bengal.

— ANI (@ANI) April 30, 2020

The iconic sportsperson, who also played first-class cricket for Bengal, was 82 and breathed his last at a hospital here. He is survived by his wife Basanti and son Sudipto. "He suffered a cardiac arrest and died in the hospital at around 5pm," a family source told PTI.

BCCI mourns the death of Subimal ‘Chuni’ Goswami, an all-rounder in the truest sense. He captained the Indian national football team & led to them to gold in the 1962 Asian Games. He later played first-class cricket for Bengal & guided them to the final of Ranji Trophy in 1971-72 pic.twitter.com/WgXhpoyLaB

— BCCI (@BCCI) April 30, 2020

Goswami was suffering from underlying ailments, including sugar, prostrate and nerve problems. Goswami played 50 matches for India as a footballer from 1956 to 1964. As a cricketer, he represented Bengal in 46 first-class games between 1962 and 1973.

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Subimal "Chuni" Goswami came for a routine check-up to a city hospital on Thursday morning and by evening he had suffered three cardiac arrests in 14 minutes to breathe his last and end an era, his son said.

"He had breakfast. Then we got him to the hospital. He was brought here for a routine check-up. He had lunch and even took a nap in the afternoon. But around 5 p.m., he suffered three heart attacks in 14 minutes," said a crestfallen Sudipto.

Goswami, who died at the age of 82, is survived by his wife and Sudipto.

Goswami was also battling underlying ailments, including sugar, and prostrate and nerve problems.

Goswami had to be given insulin daily and due to the COVID-19 lockdown, his medical supervisor was not able to attend to him on a regular basis.

"I don't have words at this point, feeling lonely," said Sudipto.

Goswami's biggest achievement was captaining India to the 1962 Asian Games Gold medal when India scripted a historic 2-1 victory against South Korea (Korea Republic) in the final to land India its second gold medal in Asian Games history.

Besides two editions of the Asian Games, Goswami was also part of India's Olympic squad in the Rome Olympics in 1960. He also captained India to the final of the AFC Asian Cup in Tel Aviv in 1964 and was part of India's campaign in the pre-Olympic qualification in 1959 (in Kabul), 1960 (in Kolkata and Jakarta), 1963 (in Colombo as captain), and in 1964 in (Tehran and Calcutta).

Goswami won the Arjuna Award in 1963 and was conferred the prestigious Padma Shri Award in 1983.

The versatile sportsman that he was, he also represented Bengal in the Ranji Trophy and even captained Bengal in 1968-69 season. He also played for East Zone in the Duleep Trophy. His first-class career as a cricketer ended after 46 matches and he scored 1,592 runs, including a century.

He also served the Tata Football Academy as its director and was appointed the Sheriff of Kolkata in 2005. In the same year, he was awarded the Mohun Bagan Ratna and was bestowed the Banga Bibhusan in 2013.

The Indian postal department also honoured Goswami with a commemorative stamp on his 82nd birthday earlier this year.

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Putting on weight is a common fear during this Coronavirus-caused lockdown. However, England football star Jamie Vardy's wife Rebekah prefers to deal with the issue in a lighter vein. While most celebs are posting pictures and videos of their workouts and chiselled frames, Rebekah uploaded this picture (right) on social media, showing off her flabs, a term she coined for her flabby abs.

Former model Rebakah, a mother of five, admitted that her weight-gain is because of excessive eating which included eating cookies and drinking wine.

"I've seen a lot of pics of people's amazing abs in lockdown so thought I'd share my cute little [FL]abs with you as well," Rebekah, 38, wrote on Instagram, going on to explain her daily diet. "For anyone interested in following my lockdown eating plan, it involves three quite healthy meals per day with my family, then I top up with a consistent intake of three cookies in between meals and after meals. Then, I make sure I'm keeping myself well hydrated with wine in the evenings," added Rebekah, concluding with a cheeky line: "I also do yoga."

 

 

 

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I’ve seen a lot of pics of people’s amazing abs in lockdown so thought I’d share my cute little (FL)abs with you as well. For anyone interested in following my lockdown eating plan it involves 3 quite healthy meals per day with my family, then I top up with a consistent intake of 🍪🍪🍪 in between meals and after meals & then I make sure I’m keeping myself well hydrated with 🍷🍷🍷 in the evenings. I also do yoga 🧘‍♀️ #keepitreal #nofilter #freetheflabs #loveyourbody ❤️

A post shared by Becky Vardy (@beckyvardy) onApr 29, 2020 at 10:30am PDT

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Football superstar Cristiano Ronaldo flew back to Italy on Monday after almost two months in Coronavirus lockdown in his native Madeira, Portugal, but he is continues to help with donations during this COVID-19 pandemic.

Lokomotiv Moscow's Portuguese player Joao Mario has told British tabloid, The Sun that Cristiano is donating money to lower league players in Portugal, who are financially hit due to the pandemic.

"It's a bad situation for everyone but in these kinds of situations, it's worse. They [Portugal's lower league players] really need our help. Cristiano presented us an initiative for us all to help especially those players that are struggling, that do not have professional contracts," said Joao.

Meanwhile, Manchester City star Bernardo Silva said, "Ronaldo suggested that Portugal players should donate 50 per cent of their Euro 2020 qualification bonus towards a players's fund in the Portugal Football Federation."

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Former Manchester United defender Patrice Evra has said he received death threats following a racism row involving then-Liverpool forward Luis Suarez in 2011. Uruguay striker Suarez was banned for eight matches by the English Football Association after being found guilty of misconduct for insulting comments to Evra, which included a reference to the left-back's skin colour, at Anfield in October that year. Liverpool, however, mounted a prolonged and public defence of Suarez's conduct as the row between the rival clubs escalated.

Evra said one consequence of the backlash included letters threatening the Frenchman and his family. "Manchester United received so many threatening letters about me," Evra told the club's UTD podcast. "People said: 'We're in jail, we're Liverpool fans. When we get out, we're going to kill you and your family'." Evra said the nature of the threats meant he had to be protected by bodyguards.

"For two months, I had security everywhere I went. They were sleeping in front of my house. Everywhere I went, the security followed me. "It was a tough time, but I wasn't scared. My family were scared: my wife and brother, but I wasn't. "I couldn't understand why people hated me so much. They didn't know the truth." Evra, who saw his attempt to shake hands with Suarez before a match the following February rebuffed by the striker, said he had forgiven his old antagonist and even spoke to the now Barcelona star before the 2015 Champions League final when playing for Juventus.

But it was a very different story at the time , which saw Evra forcing himself to control his emotions after reporting the incident to match referee Andre Marriner, who said it would be dealt with after the game and that both players should continue.

"I remember, during that game, I was talking to myself saying: 'If you punch him now, people will see you as the bad one, people will forget about what he said'," recalled Evra. "I was talking to myself: 'Don't do... do it...' I wasn't focused for the game."

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Former Barcelona player Xavi Hernandez is certain of ex-teammate Lionel Messi featuring in the FIFA World Cup Qatar 2022 as he said that the Argentine has still got "five or seven very good years left in him".

"He's still got five or seven very good years left in him," Goal.com quoted Xavi as saying during an Instagram chat with another ex-Barca forward, Samuel Eto'o.

"He takes good care of himself and he can keep playing until he's 37, 38 or 39. He'll play at the Qatar World Cup, I'm sure," he added.

The 32-year-old Messi scored 24 goals this season in all competitions before coronavirus pandemic brought the football season to a standstill.

Xavi also expressed his desire to manage Barcelona saying that it is his dream to coach the club.

"In January, it wasn't the right moment. I had conversations with Eric Abidal [Barcelona's sporting director] and Oscar Grau [Barcelona chief executive] and a big offer, but it wasn't the right moment. I need a bit more experience. Coaching Barcelona is my dream. I'd like to do it one day. I've said that many times," he said.

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Portuguese football superstar Cristiano Ronaldo, 35, could be expecting his fifth child going by an indication from his girlfriend Georgina Rodriguez, 26, via social media.

On Monday, just before leaving for Turin, Italy from Madeira in Portugal where they spent nearly two months, Georgina hinted in a social media post that she was pregnant.

She Instagrammed this blurred picture (above) of herself chewing gum with the words 'baby girl' accompanied by a heart wrapped in a bow emoji.

Cristiano has four children, Cristiano Jr, nine, twins Eva and Mateo, two, born via a surrogate mother and Alana Martina, two, from Georgina. Cristiano and his family arrived in Italy, where he will now self-isolate for two weeks before resuming training with his club, Juventus.

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German footballer Manuel Neuer, 34, who split from his wife Nina only four months ago, is said to be dating a teenage student in Munich.

Bayern Munich's star goalkeeper is reportedly in a relationship with Anika Bissel, 19, a fashion management student, who also plays for a local handball club team named Kuties. Interestingly, Anika bears a striking resemblance to Nina.

Manuel Neuer's ex-wife Nina

According to leading German magazine Bunte, Anika owns a flat in Munich but is seen spending most of her time at the footballer's luxurious home.

It is learnt that 2014 FIFA World Cup winner Manuel is very serious about his relationship and has even introduced Anika to his mother, Marita.

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Comedy is an established genre in Bollywood. Since audiences are now ready for <em>hatke</em> stuff, filmmakers are constantly trying to push the boundaries in the existing genres too. This Friday coincidentally sees the release of two such films, although both the movies are as different as chalk and cheese. While JUDGEMENTALL HAI KYA has violent undertones, the other film – ARJUN PATIALA – is like a spoof comedy, on the lines of famous Hollywood films like SCARY MOVIE and DEADPOOL. Bollywood has rarely made such films and one recent film in this space was WELCOME TO NEW YORK [2018]. It was a huge failure in all respects and now its lead actor Diljit Dosanjh appears in another spoof film, ARJUN PATIALA. So does ARJUN PATIALA manage to entertain and emerge as a pioneer of this genre in Bollywood? Or does it fail to entice? Let’s analyse. <img class="aligncenter wp-image-1002474 size-full" title="Movie Review Arjun Patiala" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/07/Movie-Review-Arjun-Patiala.jpg" alt="Movie Review Arjun Patiala" width="720" height="450" /> ARJUN PATIALA is the story of a cop trying to achieve a crime-free district. A struggling director (Abhishek Banerjee) meets a rich third-generation producer (Pankaj Tripathi). After ensuring that the director has put all the necessary ‘ingredients’ needed for a <em>masala</em> entertainer, the producer allows the narration of the script. The director then starts to tell his story – that of a police officer named Arjun Patiala (Diljit Dosanjh). He becomes a sub-inspector through sports quota and he is posted at Ferozpur Police Station in Punjab. Within a few days, he falls for Ritu Randhawa (Kriti Sanon), an honest reporter working for Tezz News Channel. He is also visited by his senior, DSP Gill (Ronit Roy). Arjun looks up to him since childhood and he is the reason why he decided to be a cop. DSP Gill shares with him his dream of making Ferozpur a crime-free district. Ritu meanwhile helps Arjun in sharing the list of baddies in the area. There’s Baldev Rana (Amit Mehra) who is so brash that he even beats up police officers if they come in his way, Sukool (Mohd. Zeeshan Ayyub) who runs a brick kiln, his brother Anda (Sumit Gulati) and finally Dilbaug Singh (Himanshu Kohli) who runs his business from jail and also has haemoglobin problems. Arjun devises a plan – he generates a gang war between them, hoping that they’ll all kill each other and hence DSP Gill’s dream will be achieved. However, there’s also MLA Prapti Makkad (Seema Pahwa) who seems to be the biggest villain of all and also has ulterior motives of her own. What happens next forms the rest of the film. Ritesh Shah and Sandeep Leyzell's story is outdated. The writers had some good ideas but fail to put it together on paper. Ritesh Shah and Sandeep Leyzell's screenplay is shockingly horrible. It’s like an apology of a script. The attempt to make a spoof comedy and taking a dig at conventional Bollywood films is something that could have paid dividends. They also had some very funny characters and any other worthy writer would have made a complete laugh riot. Alas, the writers of the film let these characters go waste. They add some dry and beaten-to-death moments and twists. In fact, it’s bewildering how this script got approved in the first place. Ritesh Shah and Sandeep Leyzell's dialogues are also dry and fail to evoke laughter. Rohit Jugraj's direction is smooth for most places but with such a poor script, there isn’t much he could have done. At a few places however, he rushes through the film and this was avoidable. For instance, it’s never properly established why Sukool agrees to bump off other villains in the district. A few more minutes should have been spent in establishing the tensions between the various gangs. If Rohit had done the needful, the end result would have been better but still, the film would have emerged as a disappointment as the content itself is not worth it. ARJUN PATIALA begins on a great note. The manner in which the producer and director converse over the <em>‘masala’</em> script is interesting. The opening credits sequence, a spoof on James Bond style of films, is witty. But soon, one realizes there’s nothing much happening in the film. Yes, there are a bunch of villains but they are not utilized properly. In fact, after a point, the film stops being funny. A few scenes are interesting here and there like Sukool assassinating Baldev Rana or the way romance blooms between Arjun and Ritu. But these are few and far between. The twist in the tale in pre-climax is something that one can see from miles away. The finale is hardly funny and reeks of lazy writing. <span style="text-decoration: underline;"><strong>Laugh Riot: Diljit &amp; Kriti’s Most Hilarious Rapid Fire | SRK | Hrithik | Kartik | Sara | Deepika | Arjun Patiala</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/celeb-interviews/laugh-riot-diljit-kritis-most-hilarious-rapid-firesrkhrithikkartiksaradeepikaarjun-patiala/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> Diljit Dosanjh is apt as the cute and naughty police officer. He genuinely plays his part and tries to rise above the script. Varun Sharma (Onida Singh) is likeable although he’s repeating himself now. Kriti Sanon is also sincere and plays the entertaining part well. The sequence where she narrates her tragic part is where she gives her best. Sadly, the makers spoil the show with an animated flashback running below on the screen and it takes away the impact of her performance too. Mohd. Zeeshan Ayyub is the best amongst the villains. He shines and it’s sad that such a cool villain won’t get his due to the bad script. Ronit Roy fits the part to the T. Seema Pahwa is decent. Amit Mehra, Himanshu Kohli and Sumit Gulati get no scope. Biswapati Sarkar (Editor of Tezz News Channel) is appropriate. Ritesh Shah (Arjun’s father) and the actor playing her mother are poor. Sunny Leone (Baby) is sizzling. Pankaj Tripathi and Abhishek Banerjee are the funniest in the film. Sachin-Jigar's music is nothing compared to their previous works. <em>‘Main Deewana Tera’</em> has the chartbuster feel but doesn’t have a long shelf life. <em>‘Crazy Habibi vs Decent Munda’</em> is situational. <em>‘Dil Todeya’</em> and<em> ‘Sachiya Mohabbatan’</em> are okay. <em>‘Sip Sip’</em> is played during the end credits. Ketan Sodha's background score is theatrical. Sudip Sengupta's cinematography is fine. Parijat Poddar and Shekhar Ujjainwal's production design is a bit television show-like. Vikram Dahiya's action is sans any gore. Veena Kapur Ee's costumes are appealing, especially the ones worn by Kriti. Huzefa Lokhandwala's editing is too quick at places. On the whole, ARJUN PATIALA is a shockingly poor fare, riddled with an outdated and tragic script. At the box office, it will be rejected outright by the cinegoers.

Films based on or inspired from true incidents always have an edge, especially if made well. A recent classic example being ARTICLE 15, loosely inspired from Badaun rape case and Una flogging incident, and which became a commercial success. Now Nikkhil Advani attempts to unravel the mystery behind the more-than-a-decade-old Batla House encounter in his flick, also titled BATLA HOUSE. So does BATLA HOUSE give viewers an entertaining and thrilling time? Or does it fail to entice? Let’s analyse. <img class="aligncenter size-full wp-image-1008066" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/08/Batla-House-3.jpg" alt="" width="720" height="450" /> BATLA HOUSE is the story of an upright cop caught in a sticky situation. The year is 2008. The Indian Mujahideen has conducted a series of blasts across the country. Their latest attack is in the capital city, Delhi, on September 13. ACP Sanjay Kumar (John Abraham) is having trouble in his marriage with Nandita (Mrunal Thakur). On September 19, he is informed by his team that the terrorists responsible for this blast are holed up in a flat in L-18, Batla House in the Okhla locality of the city. Before Sanjay could reach the site, his junior officer K K (Ravi Kishan) orders the team to engage with the occupants of the said house. The occupants who are Okhla University students fire at the cops, injuring K K grievously. Sanjay meanwhile reaches and he along with the rest of the police team eliminate the shooters. One of them, Tufail (Alok Pandey) is arrested. Even before the cops could leave, the residents begin raising slogans against the police. Soon, the media and political leaders blame the police for staging a fake encounter. K K on the other hand passes away in hospital. Sanjay meanwhile finds it difficult to prove that he’s right and that these residents of Batla House were indeed a part of Indian Mujahideen. He also informs the police department that there were two more guys in the Batla House flat who escaped, one of which is Dilshaad Ahmed (Sahidur Rehman). He escaped to Nizampur, Uttar Pradesh. Sanjay’s senior Jayvir (Manish Chaudhari) sternly tells Sanjay not to head to Nimzapur to arrest Dilshaad. Yet, Sanjay defies the orders and heads to nab Dilshaad with his team. In Nizampur, he encounters hostile residents and a leader of a political party who tell him to back off. Yet, he goes ahead and attempts to take Dilshaad back to Delhi. The locals on one hand are baying for his blood. On other hand, Jayvir and other senior cops are slamming Sanjay for his irresponsible action. What happens next forms the rest of the film. Ritesh Shah's story is well researched and gripping. Moreover, it’s extremely relevant in today’s times. Many might not be aware of this case and how it led to such a huge controversy at that time. Hence, the novelty factor is also there. Ritesh Shah's screenplay is captivating for most parts but is shaky in the first half. The film should have been simpler yet thrilling and devoid of too much of docudrama feel, for a better impact. However, there’s no doubt that some scenes are exceptionally scripted. Ritesh Shah's dialogues are acidic and sharp. The one-liners in the climax work very well. Nikkhil Advani's direction is simply brilliant. He understands the material he has in his hand and its sensitive nature. He has handled some scenes deftly and shows his brilliance in the interrogation scene in the first half and later in the courtroom sequences. Also, the Rashomon effect works well here to make the audiences wonder as to which version is correct. However, a few scenes in the first half are not up to the mark. Some scenes might even confuse viewers. For instance, it is bewildering why Sanjay switches off the camera during a crucial interrogation. Thankfully, the plusses outweigh the minuses by a huge margin here. BATLA HOUSE’s first half is decent but one misses the overall ‘Wow’ factor here. The reason behind the straining of relations between Sanjay and Nandita is not explained properly. The encounter is only partly shown and hence, one remains confused as to what exactly transpired between the police and the students. Also, Sanjay’s constant hallucination sequences become a little too much after a point. But on the positive side, a few scenes are quite promising. The film picks up in a big way when Sanjay quotes from the Holy Quran while interrogating Tufail. This powerful scene will surely be greeted with claps and whistles and it also proves how vested interests smartly misinterpret religious texts for violent gains. The Nizampur episode is a bit over the top but is quite thrilling. The intermission point also comes at a great moment. Post-interval, the interest levels increase as Sanjay gets determined to nab Dilshaad. The entry of Victoria (Nora Fatehi) adds charm to the film. But the best is reserved for the last 35-40 minutes. The courtroom drama is quite exhilarating and clap worthy. Also, once the entire scenario becomes clear, the film becomes simpler.  As a result, audiences would be even more interested once they know the complete picture. Sanjay’s monologue at this hour ensures the film ends on a high. <span style="text-decoration: underline;"><strong>Batla House Public Review | John Abraham | Mrunal Thakur | Movie Review | First Day First Show</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/first-day-first-show/batla-house-public-review-john-abraham-mrunal-thakur-movie-review-first-day-first-show/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> BATLA HOUSE belongs to John Abraham, without a shred of doubt. He is not just playing a brave, decorated police officer. He also essays the role of a person who is abused and slammed from all quarters. No one wants to know or believe his version of truth. The trauma he faces is brought out beautifully by John. Also, he’s first-rate as expected in action scenes and also in dramatic and confrontational sequences. Mrunal Thakur is letdown a bit by the script as the back story is never revealed. But she gives a decent performance. In the second half, she impresses even more as the woman who stands up for her husband. Ravi Kishan leaves a huge mark in a small role. Manish Chaudhari is efficient. Rajesh Sharma (Advocate Shailesh Arya) is quite scathing, as per his character’s requirement. Nora Fatehi provides much-needed sizzle in the film. Her character has a small but important role in the film. Alok Pandey and Sahidur Rehman play their respective parts with earnest. Pramod Pathak (Defence counsel P Krishnan) has a late entry but makes an impact. Others also do well. Songs aren’t memorable except for of course <em>'O Saki Saki'</em>. The item song is quite entertaining but it starts off quite suddenly though. <em>'Rula Diya'</em> and <em>'Jaako Rakhe'</em> are okay. John Stewart Eduri's background score is subtle yet adds to the impact.  Adil Shaikh's choreography in <em>'O Saki Saki'</em> is visually great. Soumik Mukherjee's cinematography is topnotch. This is especially in the interior scenes of Batla House flat and in the chase sequence in the small town. Priya Suhas's production design is quite realistic. Amin Khatib's action is thrilling and yet not gory or disturbing at all. Maahir Zaveri's editing is razor sharp in many scenes and also stylish. But this kind of editing also affects the impact in some of the scenes in the first half. On the whole, BATLA HOUSE is a powerful saga which is sure to spark off discussions and debates. The relevant plot, watertight screenplay, clapworthy moments and terrific performance by John Abraham makes BATLA HOUSE one of the finest films of the year. At the box office, it will have a promising run. Recommended!

Sooraj Pancholi had a dream debut in HERO [2015], a film produced by Salman Khan. The film underperformed at the box office but the hype of the film was such that it opened at Rs. 6.85 crore, which was the highest then for a film featuring debutants. Sooraj then, shockingly, disappeared and four years later, he’s finally back with SATELLITE SHANKAR. So does SATELLITE SHANKAR emerge as a great entertainer and meet the expectations raised by the trailer? Or does it fail to entice? Let’s analyse. <img class="aligncenter wp-image-1038693 size-full" title="Movie Review: Satellite Shankar" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/11/Movie-Review-Satellite-Shankar1.jpg" alt="Movie Review: Satellite Shankar" width="720" height="450" /> SATELLITE SHANKAR is about the extraordinary journey of a soldier that brings a nation together. Shankar (Sooraj Pancholi) is a rifleman posted near the LOC in Jammu and Kashmir. He is very popular in his regiment because of his jovial nature. He carries with him an idol of Lord Shankar. He pretends that it’s a satellite that can help him connect to anyone in the world. With this little trick, he keeps the officers motivated, despite them not getting leaves. In a firing by the Pakistani forces, Shankar gets hurt. He’s admitted in the hospital and though the injury is not serious, he is asked to rest for eight days. Shankar requests his commanding officer, Cheema (Sanjay Gurbaxani) that he’ll like to go to his hometown, Pollachi, in Tamil Nadu to meet his mother and get her cataract treated. Cheema agrees on the condition that Shankar reaches the base 8 days later at 8 am. Shankar promises to be back on the stipulated day and time by giving a ‘Sainik shapath’. Shankar’s colleagues request him to hand over gifts and other items to his family members while he’s on his way to his hometown. Shankar then begins his three-day-long journey on the train from Jammu. As soon as he commences the trip, an old couple in his bogie are asked to leave as they have boarded the wrong station. While helping them find the right train at the next station, Kathua, Shankar ends up missing his own train. He along with Meera Bakshi (Palomi Ghosh), a vlogger, then take a taxi to Pathankot, where their respective trains was to halt. Again, Shankar is not able to make it on time in his train while helping Meera. However, the family member of an army colleague Subedar Jeetu Singh (Pradeep Singh) picks up Shankar’s luggage from his train when it halts at a station in Punjab. Shankar reaches Jeetu Singh’s residence in Bagha and uses his ‘satellite’ to spread happiness and solve their problem. Shankar then heads to Agra to finally catch his train to Pollachi. Yet again, Shankar gives it a miss as he gets busy in saving people who were in a bus that had met with an accident. Interestingly, even Meera is there in the bus and Shankar gets captured in her video. He overnight becomes a hero of the nation. Meera takes it upon herself to find Shankar and she sets off to find him. Her followers cross the million mark and they too get involved in this journey to ensure that Shankar not only reaches his hometown soon but also that he’s able to adhere to his ‘Sainik Shapath’ and report back to base 8 days later at 8 am. What happens next forms the rest of the film. Vishal Vijay Kumar and Irfan Kamal's story is utopian but has potential and can be best described as ‘Munna Bhai meets Bajrangi Bhaijaan’! Vishal Vijay Kumar and Irfan Kamal's screenplay however don’t do justice to the plot in hand. A few scenes stand out individually but as part of the film, they seem a bit convenient and unconvincing. Vishal Vijay Kumar and Irfan Kamal's dialogues however are appropriate. But a few dialogues are in Punjabi, Tamil and Bengali and are difficult to comprehend. There should have been subtitles for these lines. Irfan Kamal's direction is weak and a bit unpolished. He had a great subject in hand but first he messed it up at the screenplay stage. Then, with his execution, he spoilt it even more. The first 15-20 minutes seem very silly and one might wonder what exactly is happening in the film. The concept of the ‘satellite’ gets clear only after 30-35 minutes in the Punjab village scene. The film boasts of very filmy and convenient plot points and it needed an expert direction so that viewers can digest it. In the absence of it, it’ll be difficult for them to really get engaged with the film. <img class="aligncenter size-full wp-image-1038694" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/11/Movie-Review-Satellite-Shankar2.jpg" alt="" width="720" height="450" /> SATELLITE SHANKAR’s beginning portions might seem bizarre. The concept of the ‘satellite’ might not be easy to comprehend. Even the scene of Shankar getting injured in the cross-border firing is not well helmed, although the idea is interesting. The film gets a bit interesting as Shankar gets in the train and he ends up missing it. However, he misses his train three times and that becomes too much. What stands out in the first half is the scene in the Punjab village and the bus accident sequence. Post-interval, the film has some fine moments but again, the direction and script play spoilsport. Still, the film remains somewhat engaging. However, the climax is when the film really falls down. The stone pelting part looks completely forced and mars the rhythm and even tone of the film. Sooraj Pancholi gives a very fine performance and he’s sure to amaze you with his sheer hard work. There’s this earnestness in the way he has played the part and it’s completely in sync with his character. Also, he is quite entertaining and watch out for the scene where he imitates Prime Minister Narendra Modi! Megha Akash (Pramila) is lovely and lends able support. Her scene at Salem railway station is memorable. But sadly, her track is not well handled and it lacks conviction. Palomi Ghosh has a brilliant screen presence and leaves a tremendous mark. Upendra Limaye (Inspector Chavan) is dependable. Pradeep Singh, Anurag Mishra (Anwar Hussain), Anil K Reji (Sridhar), Asif Basra (Taxi Driver), Subrat Dutta (TC) and Sanjay Gurbaxani are fine. Music is nothing special. <em>'Pyaar Ka Satellite'</em> is like a theme track and is the only song that works. <em>'Aari Aari'</em> is foot tapping but comes at a time when viewers are dazed about the film’s concept. <em>'Tere Sang'</em> is forgettable while <em>'Jai He'</em> has a patriotic feel and hence stands out. Sandeep Shirodkar's background score is appropriate. Jitan Harmeet Singh's cinematography is excellent. The film has been shot in real locations to bring the authenticity and the various locales are well captured. Abbas Ali Moghul's action is dated. Tariq Umar Khan's production design is as per the requirement of the film. Same goes for Dipika Lal and Anirudh Singh's costumes. White Apple's VFX is decent. Chandan Arora's editing is sany complaints. On the whole, SATELLITE SHANKAR is a well-intentioned flick but poor script and direction play spoilsport. At the box office, it’ll have a tough time because of lack of awareness.

A sub-genre of Bollywood is that of cheating partners and the comedy that ensures as a result. MASTI [2004], NO ENTRY [2005], GARAM MASALA [2006] etc are some of the successful films dealing with infidelity. But one of the first films that talked about this aspect with a dash of comedy was the 1978 flick PATI PATNI AUR WOH. It was directed by B R Chopra and now his grandson Juno Chopra is all set to present its remake, also titled PATI PATNI AUR WOH, with an exciting cast and scintillating music. So does PATI PATNI AUR WOH manage to entertain and tickle the funny bone of the audience? Or does it disappoint? Let’s analyse. <img class="aligncenter size-full wp-image-1048320" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/12/Movie-Review-Pati-Patni-Aur-Woh-IMG.jpg" alt="Movie Review Pati Patni Aur Woh" width="750" height="450" /> PATI PATNI AUR WOH is the story of the adventures of a cheating husband. Abhinav aka Chintu Tyagi (Kartik Aaryan) tops in his exams and secures a comfortable job in the PWD department in his hometown Kanpur. His parents (K K Raina and Navni Parihar) compel him to go for arranged marriage. He meets Vedika Tripathi (Bhumi Pednekar) for this reason. Sparks fly and they both get married. They even shift to their own house. Three years pass. A bit of boredom kicks in for Chintu. His parents taunt him for not having a child. Vedika meanwhile wants to shift to Delhi for a better life and she leaves no chance to diss Chintu for being content in his cocoon in Kanpur. In the midst of all this, Chintu one day meets Tapasya Singh (Ananya Panday). She comes through a reference to seek help for setting up a boutique in Kanpur. Chintu is given the opportunity to help her select a good plot. Chintu gets smitten by Tapasya and starts spending time with her. Tapasya finds out about his marital status. Afraid that she might stop meeting him after knowing that he has a wife, Chintu lies to Tapasya that he’s in an unhappy marriage and that his wife is cheating on him. Tapasya feels bad for Chintu and slowly even she starts to like him. All is going well for Chintu until one day Tapasya finds out the truth. What happens next forms the rest of the film. PATI PATNI AUR WOH's basic idea is based on the premise of the original film. Jasmeet K Reen’s adaptation of the script however is not a copy paste job. A lot of modifications are done keeping in mind the changing times and also because audiences have seen many such films. Hence the second half especially provides lot of surprise which is not seen in any other film of this league. Mudassar Aziz's screenplay has a few rough edges here and there but overall it’s very tight, neat and more importantly, entertaining. Mudassar Aziz's dialogues are one of the highpoints. The one liners are so witty and funny that they will surely be greeted with whistles and claps. Mudassar Aziz's direction is excellent and does total justice to the plot in hand. He adds a lot of freshness to the film in so many respects. Firstly, it’s praiseworthy how the names of the towns are mentioned in such a cool way in the beginning. Secondly, the manner in which Kartik and Bhumi's characters address each other with their respective surnames is cute. The fact that Vedika retains her maiden surname gives a hint of the progressive nature of the script in the beginning itself and later on, one gets to see it in all its glory. Also, Chintu is naughty but he’s never vulgar. He never refers to Tapasya in an objectionable manner. The director however slightly slips in handling the climax twist. It’s no doubt unpredictable but seems difficult to digest. PATI PATNI AUR WOH's beginning scene is quite well shot and sets the mood totally. The beginning of the flashback however is when the film drops. The intention is good since the makers are trying to show how Chintu's life has turned monotonous. Individually it works but as a part of the film, it fails to totally entice. The fun begins once Vedika enters the scene and how Chintu goes head over heels over her. What adds to the fun is that the dialogues are hilarious. Also the film has a lot of many other characters and they also contribute to the madness. This is especially in the second half once Vedika finds out the truth and she goes all out to show her anger. These developments ensure that the film doesn’t turn too serious or sad. The makers had promised lot of entertainment and laughter and the film provides that in abundance! <span style="text-decoration: underline;"><strong>Kartik, Ananya &amp; Bhumi’s MADDEST &amp; CRAZIEST rapid fire ever | Pati Patni Aur Woh | Sara | Kiara | Hrithik</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/celeb-interviews/kartik-ananya-bhumis-maddest-craziest-rapid-fire-everpatipatni-aur-woh-sarakiara-hrithik/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> Kartik Aaryan underplays his part in a terrific manner. He completely looks like a small town simpleton and it’s great to see how he infuses humour to the proceedings. His act as the shattered person in pre climax is also something to watch out for. Bhumi Pednekar gets to play a superb character and she shines! She understands her part and brings the required characteristics appropriately. Ananya Panday has a fantastic screen presence and performance wise, she is first rate. She maintains her strong position of herself despite the presence of so many talented actors. Aparshakti Khurana (Fahim Rizvi) is the big surprise of the film and rocks the show. See it to believe it! Shubham Kumar (Rakesh Yadav) is another actor who has a significant role and entertains audiences thoroughly. K K Raina, Navni Parihar, Rajesh Sharma (Vedika's father) and Geeta Agarwal (Vedika’s mother) are decent. However, Neeraj Sood (Brijesh Pandey) is too good. Manurishi Chadha (Inspector Mukhtar Singh) leaves a mark. Sunny Singh (Doga) looks dashing and is very nice in the special appearance. Kriti Sanon (Neha Khanna) adds to the oomph with her appearance in a scene. Songs are fine and don’t act as obstacles. <em>'Ankhiyon Se Goli Mare'</em> is played during the end credits. <em>'Dheeme Dheeme' </em>is foot tapping while <em>'Dilbara'</em> is shot well. John Stewart Eduri's background score is nothing great. But the use of MAIN HOON NA song as background track is a great idea. Chirantan Das's cinematography captures the locales of Kanpur and Lucknow well. The intro scene is spectacular. Tariq Umar Khan's production design is realistic. Niharika Bhasin's costumes are as per the requirement. The ones worn by Ananya are glamorous while those donned by Bhumi suit her character nicely. Ninad Khanolkar's editing is neat. On the whole, PATI PATNI AUR WOH is a fun filled entertainer which is also quite progressive in many ways. At the box office, the strong buzz coupled with Kartik Aaryan's presence will ensure a healthy business at the box office window. Recommended!

The year 2019 has seen the release of big-budget period action films and all of them have been well received by the audiences, like MANIKARNIKA – THE QUEEN OF JHANSI, KESARI and SYE RAA NARASIMHA REDDY. Now the final 2019 film in this league, PANIPAT, is all set to release, and it promises to be a grand and entertaining affair. So does PANIPAT manage to give the audiences a great time? Or does it fail? Let’s analyse. <img class="aligncenter wp-image-1048659 size-full" title="Movie Review: Panipat" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/12/Panipat-4-5.jpg" alt="Movie Review: Panipat" width="720" height="450" /> PANIPAT is the story of one of the most important chapters of history. The year is 1760. The Marathas under Sadashivrao Bhau (Arjun Kapoor) finally annexe the Udgiri Fort in present-day southern Maharashtra and thereby finish the Nizamshahi rule for good. The Marathas have now occupied most of India. Nana Saheb Peshwa (Mohnish Bahl) is very happy with the developments and especially with Sadashiv. Nana Saheb's wife Gopika Bai (Padmini Kolhapure) however feels insecure with her hubby’s fondness for Sadashiv. At her insistence, Sadashiv is given the responsibility of handling the treasury. Sadashiv is shocked at this development as he has always been a warrior. Nevertheless he accepts this change of duty. He also gets to spend time with Parvati Bai (Kriti Sanon), a physician. Both fall in love and get married. Meanwhile, while checking the finances, Sadashiv realises that the kingdoms up North are not paying the dues to the Marathas, as they had promised. A message is then sent to all these kings, including Mughal empeor Alamgir II (S M Zaheer). Najib-Ud-Daula (Mantra) is a part of the Mughal court and he’s asked to leave. He’s so frustrated with the high handedness of the Marathas that he decides to defeat them once and for all. To do so, he knocks on the doors of Ahmed Shah Abdali (Sanjay Dutt), the Afghan ruler of Kandahar. At first, Abdali declines since he realises that Najib-Ud-Daula is seeking his help for his selfish gains. But then he also realises that if he manages to capture a large part of India, it would add to his prowess. Hence he sets off to India. The Marathas find out about Abdali's plans and that he is approaching with 1 lakh soldiers. Sadashiv however feels that despite having lesser number of soldiers, the Marathas can still defeat Abdali. Nana Saheb gives Sadashiv the responsibility of going up North to stop Abdali with 40,000 soldiers. On the way, Sadashiv seeks help from various kingdoms and forges alliances. Most of them agree to be on his side and provide armymen. Shuja-Ud-Daula (Kunal R Kapoor) is the Wazir of Awadh and Sadashiv asks for his help as well. In return, he agrees to make him the Wazir of Delhi once Abdali is defeated. Shuja-Ud-Daula asks for this agreement in writing. The Marathas agree to do so and said that they’ll return in a few days with the written assurance. In the interim, Abdali’s men meet Shuja-Ud-Daula. They too make the same offer that he’ll be made Delhi’s Wazir and what’s more, they get the written agreement with them. Shuja-Ud-Daula hence joins Abdali. This serves a blow for Sadashiv since Shuja-Ud-Daula’s alliance would have helped him immensely. Nevertheless, he agrees to fight, come what may. What happens next forms the rest of the film. Chandrashekhar Dhavalikar, Ranjeet Bahadur, Aditya Rawal and Ashutosh Gowariker's story is close to reality. It is praiseworthy that Gowariker and his team chose this topic as it’s one of the significant battles of Indian history. Also, many viewers would not be aware that the Marathas at one point were so strong in India. Hence, it turns out to be an entertaining as well as enlightening experience for them. Chandrashekhar Dhavalikar, Ranjeet Bahadur, Aditya Rawal and Ashutosh Gowariker's screenplay is fine for most parts but is not consistent. A few scenes don’t pack a punch and hence, bring the impact down. A few scenes however are exceptionally written. Ashok Chakradhar's dialogues are nothing great. Ashutosh Gowariker's direction is neat and uncomplicated for most parts. He’s in form after a long time. He very beautifully presents the Maratha Empire in all its glory. The battle scenes in the second half keep the interest going. Also noteworthy is the scene of the truce between Sadashiv and Abdali. But the politics and the problems faced by Marathas in getting help in battling Abdali ought to have been better explained. Also, the film could have been more commercial and massy as there were several scenes that had that kind of appeal. The length is another issue. At 2.53 hours, the film is quite long, especially in the first half. Another big problem with the film is that the tagline is ‘The Great Betrayal’. This bit comes out in a crucial scene in the climax. But the build up to it is very weak. Hence, audiences don’t really get a shock when the man who does the ‘great betrayal’ shows his true intentions. Hence, the impact gets diluted. <span style="text-decoration: underline;"><strong>“I disagree that Abdali was a VILLAINOUS character…”: Sanjay Dutt | Arjun | Kriti | Ashutosh | Panipat</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/celeb-interviews/i-disagree-that-abdali-was-a-villainous-character-sanjay-dutt-arjun-kriti-ashutosh-panipat/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> PANIPAT begins on a fair note with the scene of the Udgiri Fort annexation. The film then falls a bit as the focus shifts to the politics happening within Shaniwar Wada, Pune. Also, the romantic track of Sadashiv-Parvati Bai is decent but nothing extraordinary. The entry of Abdali is quite interesting and it enhances interest. The film dips once again and the interest then only rises during the intermission point. This is an excellent sequence, when Sadashiv and Abdali come face to face and it sets the mood of the second half. The post interval portion starts off well as Sadashiv comes up with a great plan of capturing Delhi’s Red Fort. This sequence is quite significant, also because viewers might not be aware of this chapter of history. Ashutosh Gowariker however reserves the best for the finale. The truce sequence followed by the 30-minute-long climax engrosses viewers. The betrayal bit however could have been better explained. The final scene of Abdali is fine and it is a great way to end the film. Arjun Kapoor gives his hundred per cent. His physique comes in handy for this character and he indeed looks like a ferocious warrior who can induce fear in enemies. In non-action scenes too, he is quite good. But in a few scenes, he’s a bit off. This is especially in the romantic portions. Sanjay Dutt too tries his best to be menacing but succeeds partly. A fine effort, nevertheless! Kriti Sanon is quite confident and gives an impressive performance. She is not there in the film for the heck of it. She has a very important part and her action scene would be loved! Mohnish Bahl is dependable but he’s hardly there in the second half. Sahil Salathia (Shamsher Bahadur; Bajirao and Mastani’s son) leaves a tremendous mark and it’s great to see that he got such an important part. Same goes for Nawab Shah (Ibrahim Khan Gardi). Mantra understands his character and brings the require jealousy and immaturity. Zeenat Aman (Sakina Begum) is excellent in the cameo and her scene with Kriti Sanon is one of the highpoints of the film. The other actors who do a good job are Padmini Kolhapure, Kunal R Kapoor, S M Zaheer, Milind Gunaji (Dattaji Shinde) Abhishek Nigam (Vishwas Rao), Ravindra Mahajani (Malhar Rao Holkar) and Suhasini Mulay (Sadashiv’s grandmother; presumably Radha Bai). Ajay-Atul's music is a big letdown. None of the songs are memorable. <em>'Mard Maratha'</em> is shot well but the song is very dull. Same goes for <em>'Mann Mein Shiva'</em>. <em>'Sapna Hai Sach Hai'</em> lacks soul. Ajay-Atul's background score is way better and exhilarating. Muraleedharan C K's cinematography is spectacular and captures the battle and other scenes effectively. Raju Khan's choreography is worth appreciating in <em>'Mann Mein Shiva'</em>. Nitin Chandrakant Desai's production design, as expected, is grand and visually stunning. However, some sets seem too similar to that of JODHAA AKBAR [2008] and PREM RATAN DHAN PAYO [2015]. Neeta Lulla's costumes are quite authentic and in sync with the bygone era. Vikram Gaikwad's makeup and hair design is very detailed. Abbas Ali Moghul's action makes for a great watch and is sans gore or too much of bloodshed. VFX is done by Ashutosh Gowariker’s company (AGPPL VFX) and is fine in most scenes. The slow-motion shots in climax fight adds to the impact. Steven Bernard's editing could have been tighter. On the whole, PANIPAT throws light on an important chapter of Indian history with the battle scenes as its USP. At the box office, it will need a strong word of mouth since it faces competition in the form of PATI PATNI AUR WOH.

COVID-19 has started showing its impact on the mutual fund industry. Few days ago I mentioned in my article, Debt mutual funds witnessed massive outflows of Rs 1.95 trillion in the month of March.

Though we could attribute most of that outflow to corporates redeeming funds to meet their quarter end obligations, high volatility and uncertainty as consequences of the pandemic could have also played a major hand in the redemption pressure for debt schemes.

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FII have been redeeming investments heavily in equity and debt segment ever since WHO declared COVID-19 a pandemic. In March, FIIs pulled out Rs 60,375 crore from the debt market.

High redemption and lack of buying interest has made debt mutual fund schemes vulnerable, especially those with higher exposure to low rated instruments.

This instability has claimed its first casualty in debt mutual funds...

Franklin Templeton Mutual Fund (FTMF) has decided to wind down six of its debt schemes with effect from April 23, 2020 due to COVID-19 related market dislocation. This is something that is unheard of in the mutual fund industry and has perplexed many investors and advisors.

The schemes that are wound up are:

• Franklin India Low Duration Fund
• Franklin India Dynamic Accrual Fund
• Franklin India Credit Risk Fund
• Franklin India Short Term Income Plan
• Franklin India Ultra Short Bond Fund
• Franklin India Income Opportunities Fund

Together these schemes have an AUM of 30,854 crore as on March 31, 2020. Notably, these are the very schemes which in the past had to create segregated portfolio for its exposure to downgraded papers of Vodafone Idea and Yes Bank.

What led to the move?

According to a statement to investors from FTMF, "Despite several measures taken by the Reserve Bank of India (RBI), the liquidity in certain segments of the corporate bond markets has fallen-off dramatically and has remained low for an extended period. In this scenario, mutual funds are facing unprecedented liquidity challenges due to a variety of factors-rising redemption pressures due to heightened risk aversion, mark to market losses following a spike in yields and lower trading volumes in the bond markets. These factors have together caused a significant and worsening liquidity crunch for open-end mutual fund schemes investing in corporate credits across the credit rating spectrum."

The schemes had to resort to continuous borrowing to fund redemptions during this time, and were unable to repay the borrowings through sale of portfolio securities due to the prevailing market environment. The Investment manager did not believe it was prudent to continue funding redemptions through potentially increasing levels of borrowings.

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FTMF follows a high-risk high-return strategy for the above mentioned funds - Meaning a major part of its portfolio is exposed to lower rated securities (rating below AAA). The market disruption due to the virus outbreak has impacted these securities the most.

Under conditions of high redemption pressure, mutual funds sell their liquid assets to meet the demand, leaving the portfolio highly exposed to illiquid assets.

Thus, investors who choose to stay invested are at a disadvantage here.

Anticipating continued liquidity stress to the funds, the fund house thought winding up the scheme is the only viable option for the unitholders to minimize erosion of value.

Table: Details of schemes being wound up

What does it mean for investors of these schemes?

Investors of these schemes will not be able to purchase/redeem investment, switch to other schemes or do systematic transactions. In short their funds will be locked. The fund will not charge any management fees for the funds that are being wound up.

The fund house will rely on coupon payments, maturity value of underlying securities, and selling of securities at realisable value. While the fund house expects to realise most of the proceeds as per maturities, there may be some low rated securities that may even default on the due date. The fund house may create segregated portfolios for such securities and pay back as and when the money is realised.

It will be prudent to check the average maturity of portfolios of each fund and expect major repayment within that period.

What should investors in debt funds do?

Debt mutual fund Investors are not as confident, due to incidents of exposure to toxic papers in the past. This event could make them even more wary about their investment in debt schemes. As a consequence, there may be some panic selling in other debt schemes by investors worried about their funds getting locked.

However, instead of taking any hasty decisions, it would be a great idea to check your funds for the quality of assets it holds.

Choose a fund house that follows prudent investment process and stringent risk-management system. In these uncertain times, it would be wise sticking to liquid funds and overnight funds for the fixed-income part of your portfolio. Alternatively, if you prefer safety of capital, invest in Bank fixed deposits.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity

The way ahead...

While the fund house has done this to protect investors' interest, it has made the funds illiquid from the investors' point of view. Many investors may lose faith in debt funds for their short-term goals.

Going further, investors may have to consider liquidity risk due to AMC action, while investing in any high credit risk oriented debt funds.

It is time for the regulator to step up and clarify the illiquidity part for other debt schemes out there to investors. Moreover, it needs to provide a framework of strict guidelines to restrict fund managers from putting investors' hard-earned money at risk by exposing them to low rated securities for higher yield.

Meanwhile, AMFI has assured investors that a majority of the fixed income fund assets is invested in superior credit quality securities, and the schemes have appropriate liquidity to ensure normal operations. It further stated that the industry remains fully committed to the investors' interests and there is no need for them to panic and redeem investments.

Author: Divya Grover

This article first appeared on PersonalFN here.

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PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Unnerving movements for debt mutual funds investors!

Just last week my colleague, Divya explained the fiasco at Franklin Templeton Mutual Fund, which took a decision to abruptly wind down six debt mutual fund schemes, namely:

• Franklin India Low Duration Fund
• Franklin India Dynamic Accrual Fund
• Franklin India Credit Risk Fund
• Franklin India Short Term Income Plan
• Franklin India Ultra Short Bond Fund
• Franklin India Income Opportunities Fund

In all, the above debt mutual fund schemes had an AUM of Rs 30,854 crore as of March 31, 2020.

The fund house cited, "severe market dislocation and illiquidity in the fixed income space" caused by the COVID-19 pandemic, as the reason behind the decision.

Investors in these schemes are now left in the lurch: they cannot sell (nor buy) these funds and will have to rely on the fund house to get back their hard-earned money. Investors will have to hold their investments in these schemes until liquidity is available to the mutual fund house by either selling securities in the fund's portfolio or receiving maturity proceeds.

Currently, a fact is, not just Franklin Templeton Mutual Fund, but debt mutual fund schemes of many other fund houses are have a remarkable exposure to stressed assets.

According to portfolios disclosed on March 31, 2020, mutual funds collectively held Rs 1.38 trillion of exposure to debt securities issued by Non-Banking Financial Companies (NBFCs). Approximately Rs 51,000 crore of the exposure in debt securities has a maturity profile of less than 3 months; and now, mutual funds fear that there will be defaults.

NBFCs and other corporate borrowers claim that they do not have enough liquidity to fulfil their obligations and have requested for additional time. Given that, rating downgrades from rating agencies look likely.

However, some companies are playing smart: they are approaching the Courts to prevent a rating downgrade, plus seeking a stay on sale of pledged shares. Of course, they are well within their right to approach the judicial authority or Courts and contest.

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But the capital market regulator, seems to be in no mood in offering them any leeway. On the contrary, the regulator is asking the mutual fund industry to act against the issuer of securities who are possibly carrying high credit risk; facing asset quality problems.

Delays in repayments would mean the creation of more side-pockets by mutual funds. And in my view, more the losses investors suffer, more frustrating it will be for mutual fund houses and their investors. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

If you are wondering what has gone wrong, here's everything you may like to know about liquidity, credit risk and the exposure of mutual funds to corporate debt in the present scenario.

If you remember, the capital market regulator had mandated large corporations to source at least 25% of their borrowings from the bond markets from the beginning of FY 2019. This move was expected to deepen Indian bond markets and reduces the stress on banks. Just a year later, the same move is proving fatal for companies that went to the bond markets to raise money.

Now that the COVID-19 lockdown has forced many business units to shut off temporarily or operate much below their optimal operational capacity with a skeletal staff, companies, including the large organisations that relied heavily on debt markets, are finding it difficult to honour maturity claims on Commercial Papers (CPs), Non-Convertible Debentures (NCDs), and Bonds.

They were hoping for an 'at-par treatment' with Banks when the Reserve Bank of India (RBI) offered a moratorium period to borrowers. But the RBI circular came to them as a shocker. The devil was in the details.

On March 27, 2020, the RBI issued a notification allowing a three-month moratorium on all outstanding term loans and working capital facilities on account of disruptions caused by the outbreak of coronavirus. This circular did not cover around 10 thousand NBFCs, who mainly depend on CPs, NCDs, and Bonds for their funding requirements.

As far as NBFCs are concerned, the RBI has already provided them with a liquidity facility through the banking channel. The RBI directed banks to utilise funds infused under Targeted Long Term Repo Operations (TLTRO) facility to invest in 'investment-grade' CPs, NCDs, and Bonds issued by NBFCs. Also, RBI mandated banks to allocate 50% of Rs 50,000 crore of liquidity introduced by way of TLTRO 2.0 to small and mid-size NBFCs and small finance banks.

But NBFCs seemed not too happy with just liquidity and many of them are now approaching courts to prevent rating downgrades. This is not a best practice for the industry, although fund houses may be well within their rights to contest.

Recently, Indiabulls Housing Finance was successful in receiving the interim order from Delhi High Court, throttling any coercive action against the housing finance company for its inability to repay its bondholders. The Delhi High Court will hear the case further on May 19, 2020.

This has added to the worries of mutual fund houses that now fear other NBFCs will follow the same path.

The capital market regulator, only recently (a few days ago) following the three moratorium by RBI (due to disruptions caused by COVID-19 pandemic) has relaxed the valuation norms for debt and money market instrument held by mutual funds vide a circular dated April 23, 2020, wherein it states as under:

• Based on assessment, if the valuation agencies appointed by AMFI are of the view that the delay in payment of interest/principal or extension of the maturity of a security by the issuer has arisen solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by Reserve Bank of India (RBI) (vide notification no. RBI/2019-20/186, dated March 27, 2020) creating temporary operational challenges in servicing debt, then valuation agencies may not consider the same as a default for the purpose of valuation of money market or debt securities held by Mutual Funds.
  
  However, in the scenario, as stated above, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted.

But then what is the point of coming up with these valuation norms as an afterthought, and not in close synchronisation when the RBI came with its notification a month ago?

The damage now is already done and companies are anyways approaching the Courts to prevent a rating downgrade.

Let's say shares of a company are pledged and to recover the proceeds -- if they cannot be sold due to a court order -- then such lending would be as good as unsecured lending.

Also, why should that not be construed as an instance of deviation from the stated fundamental attributes of a debt mutual fund scheme? After all, mutual fund investors invest in debt fund schemes taking into account a certain level of risk. Change in the risk profile of a scheme is a change in the fundamental attribute/s.

According to India Ratings, NBFCs having the asset base of Rs 500 crore to 5,000 crore, largely fall between "A" and "BBB" rating categories.

The mid-path could be a decision on payment or deferring the payment in consultation with all stakeholders, including debenture trustees. The industry will require a blanket resolution because a case-to-case resolution approach is cumbersome and may create more chaos.

Unless the RBI takes a clear stance on NBFCs and other financial institutions, mutual fund houses are likely to feel the heat of redemptions. Suppose, there's no further statement issued by the banking sector regulator; mutual funds will have to be prepared to handle large-scale defaults, which might look inevitable. After all, a majority of NBFCs' customers are retail borrowers and they enjoy a moratorium on the EMI payment for 3-months. This has been the trickiest part for NBFCs.

While COVID-19 outbreak has been the genuine reason for the potential defaults this time, asset-liability mismatches of NBFCs are well-known. Many NBFCs have gone overboard with cheap credit available during stable market conditions. Their credit underwriting has been questioned widely. The industry has also witnessed belly-up instances such as IL&FS and DHFL. Many mutual fund houses have burned their fingers badly in such defaults.

At the time of writing this piece, to ease the liquidity pressure on mutual funds, the RBI today decided to provide a special liquidity facility of Rs 50,000 crore for mutual funds. Under this facility, the RBI will conduct repo operations of 90 days tenor at the fixed repo rate. This will be on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday (excluding holidays). The scheme is available from today i.e., April 27, 2020, till May 11, 2020, or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions.

The RBI has stated further that the liquidity support availed under the Special Liquidity Facility for Mutual Funds shall be used by banks exclusively for meeting the liquidity requirements of mutual funds by, 1) extending loans; and (2) undertaking outright purchase of and/or repos against the collateral of investment-grade corporate bonds, CPs, debentures and certificates of Deposit (CDs) held by mutual funds.

Having taken this measure, keep in mind that it does not make investing in debt mutual funds risk-free. Considering the prevailing investment environment, you should stay away from mutual fund schemes whose portfolio characteristic appears compromised. Also, avoid credit risk funds and corporate bond funds as they are likely to be more vulnerable amidst the financial crisis followed by COVID-19 pandemic.

As a thumb rule: Choose mutual fund schemes from fund houses that follow prudent judicious investment processes and stringent risk-management systems.

In these uncertain times, it would be wise sticking to liquid funds and overnight funds while considering debt funds.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity.

As with all financial matters, better be safe than sorry!

PS: If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

Every month, PersonalFN's FundSelect service will provide you with insightful and practical guidance on equity mutual funds and debt schemes - the ones to Buy, Hold, or Sell.

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Last month, SEBI had asked credit rating agencies not to consider any delay in payment of interest or principal loan amount arisen solely due to the nationwide lockdown conditions as a default.

The stress in the Indian mutual fund industry due to the pandemic impact deepened after Franklin Templeton MF decided to wind down six of its debt schemes. The lack of liquidity and redemption pressure compelled FTMF to take the extreme step.

In this economic environment, Mutual Fund houses are concerned about companies that are likely to delay and default in payments. Many companies have sought deferment/rescheduling of payment due to COVID-19 related disruptions. In order to minimize the resultant damage, market regulator SEBI recently provided temporary relaxation in valuation norms for instruments mutual funds hold.

SEBI has asked valuation agencies to avoid treating delays in payment of interest/principal or extension of maturity of a security as default for the purpose of valuation of money market or debt securities held by Mutual Funds, if it has been caused solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by RBI.

[Read: Will Mutual Fund Houses Act Against Companies Approaching Courts To Prevent Rating Downgrade Amidst COVID-19?]

"In view of the nationwide lockdown and the three-month moratorium/ deferment on payment permitted by RBI, a differentiation in treatment of default, on a case to case basis, needs to be made as to whether such default occurred solely due to the lockdown or loan moratorium", SEBI circular said.

SEBI has stated that in the above mentioned scenario, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted. This revised norm will be in effect until the RBI's period of moratorium.

However, AMCs shall continue to be responsible for true and fairness of valuation of securities.

Mutual fund houses have to mark the value of their assets based on valuations provided by valuation agencies appointed by AMFI.

At present, a debt or money market security is classified as 'Default' if the interest and/or principal amount has not been received on the day such amount was due; or when such security has been downgraded to 'Default' grade by a credit rating agency. Default denoted that the security is below investment grade.

This leads to mark down of the respective security and thereby impacts NAV of the scheme.

SEBI's move provides some relief in this regard. It will ensure that all fund houses follow a uniform approach while dealing with defaults/delay due to COVID-19.

Will it make investment in debt fund safe?

SEBI has not yet provided any moratorium on commercial paper and corporate bond repayment. According to a report published in Livemint, Rs 1.5 trillion worth of commercial paper and corporate bonds will be maturing in the first quarter.

As mentioned earlier, AMCs shall continue to be responsible for true and fairness of valuation of securities. But in the absence of rating downgrade from valuation agencies, fund houses cannot side-pocket their exposure to a defaulting company. Therefore, we may still see some write-offs if the AMC finds recovery to be difficult even after the relaxation period.

COVID-19 has impacted businesses across sectors. Some sectors such as NBFCs were under stress even before the pandemic. The default risk has thus amplified.

The relaxation of valuation would delay the issue, but downgrades would arise subsequently. Spike in number of side pockets (by fund houses) may thus become imminent.

My colleague, Rounaq, rightly mentioned yesterday, losses the investors suffer will be directly proportionate to the stress, pressure mutual fund houses and their investors will face. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

What should investors do?

In these uncertain times, it would be wise sticking to liquid funds and overnight funds for the fixed-income part of your portfolio and avoid funds that take higher credit risk. Alternatively, if you prefer safety of capital, invest in Bank fixed deposits.

Choose a fund house that follows prudent investment process and stringent risk-management system.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy, which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity.

SEBI has time and again taken steps to tighten norms for debt funds. As an investor, if you take portfolio risks, align it with your own risk appetite and financial objective.

PS: If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

Author: Divya Grover

This article first appeared on PersonalFN here.

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

India tennis ace Sania Mirza celebrated her 10th wedding anniversary along with husband and veteran Pakistan all-rounder Shoaib Malik on April 12, 2020. It was an auspicious day as it was also Easter

Sania Mirza took to social media site Instagram to share a few pictures with her husband Shoaib Malik from their big day back in 2010. She also wished him a "Happy Anniversary".

Sania Mirza also showed her fans a glimpse of her humorous side as she made a tongue-in-cheek statement in her post comparing the two contrasting photos by saying "Expectations vs reality". Sania Mirza wrote: Happy Anniversary @realshoaibmalik. A decade of being married looks like this!! Expectation vs reality. Swipe right for reality." Take a look at the post below. 

 

 

 

View this post on Instagram

Happy Anniversary @realshoaibmalik 😌ðŸ¤Â— A decade of being married looks like this!! Expectation vs reality 😅😂 Swipe right for reality âž¡ï¸Â

A post shared by Sania Mirza (@mirzasaniar) onApr 12, 2020 at 3:55am PDT

Sania Mirza and Shoaib Malik tied the knot in April 2010 in Hyderabad in a grand manner. Sania Mirza gave birth to a baby boy named Izhaan in October 2018. After giving birth to her child in October 2018, Sania Mirza returned to the court in January 2020.

She clinched the women's doubles title at Hobart International, pairing up with Nadiia Kichenok, in her comeback competition.

Sania recently shared a photo of her son with a tennis racquet in hand, looking confused. "I am pretty sure he's thinking what the fuss is all about? #IzhaanMirzaMalik," Sania said in her Twitter post.

Sania last played at the Qatar Open in February. She has helped raise Rs 1.25 crore in one week which will help close to 1 lakh people in need during the 21-day lockdown to fight the coronavirus pandemic.

Inputs from IANS

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While sports stars across the globe are trying their hands at doing things they never got to do thanks to the Coronavirus lockdown, Bulgarian tennis star Grigor Dimitrov has revealed he will be taking up a course at the Harvard Business School soon.

In a column for the ATP Tour website, Grigor wrote: "I'm starting a course at Harvard Business School in a few weeks. It's something I've always wanted to do. I loved being in school, but haven't had the chance to experience it to the extent that I would have wanted to. Now I have the time to do something new and different."

Grigor, who is currently in California, USA, during quarantine, added: "I decided to stay on the west coast of the US once it was announced that Indian Wells was cancelled. Tennis players are creatures of habit, so I still make sure to structure my day. Go to bed on time, wake up early, be productive in the morning. I'm a crazy fanatic when it comes to laundry and have been doing that twice a day."

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Canadian tennis ace Eugenie Bouchard, 26, has agreed to go on a date with a random online fan for a charitable cause. The fan will pay her an amount which she will donate to feed hospital staff battling the Coronavirus pandemic.

After Genie put out a message on Twitter that she felt like "quarantine would be a lot more fun with a boyfriend," she received many messages from fans.

So, in an Instagram Live chat with sportscaster Allie LaForce, she decided to pick a viewer named Bob, who initially offered to pay GBP 400 (approx Rs 36,000) for the date.

LaForce however, upped the stakes further, demanding GBP 2,410 (approx R2 lakh), the expenditure to feed hospital staff on the tennis player's behalf. Bob agreed and Genie said yes. Interestingly, Genie asked Bob to get some toilet rolls along, to which, Bob agreed but offered an extra GBP 800 (approx Rs 72,000) if she spoke in a British accent.

An embarrassed Genie replied: "Why are you doing this to me, Bob? I'm going to say yes but I have no skill whatsoever in imitating accents."

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