Complaint against Bhushan Kumar completely false and malicious: T-Series

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Mumbai, July 16 | Music label and film production banner T-Series on Friday issued a statement about the rape allegation levelled against its Chairman and Managing Director Bhushan Kumar. The statement claims that the complaint filed against Kumar is “completely false and malicious”.

It further claims that the police complaint filed by the complainant is “nothing but a counter blast” to the complaint filed by T-Series on July 1 this year “against her and her accomplice for the offence of extortion”.

The statement issued by T-Series reads: “The complaint filed against Mr. Bhushan Kumar is completely false and malicious and the contents of the same are denied. It has been falsely alleged that the lady in question was sexually exploited between 2017 to 2020 on the pretext of giving her work.

“It is a matter of record that she has already worked for T-Series banner in Film and music videos.

“Around March 2021 she approached Mr. Bhushan Kumar seeking help to fund one of the web-series which she wanted to produce, which was politely refused. Thereafter, In June 2021 after the lifting of lockdown in Maharashtra she started approaching T-Series banner in collusion with her accomplice demanding huge sum of money as extortion amount.

“Consequently, a complaint was filled by T-Series banner against the attempted extortion at with police at Amboli police station on 1st July 2021. We also have evidence in the form of audio recording for the extortion attempt and the same shall be provided to investigating agency. The present complaint filed by her is nothing but a counter blast to the complaint filed against her and her accomplice for the offence of extortion.

“We are in the process of consulting our lawyers in this regard and will take appropriate legal action,” the statement concluded.

The Mumbai Police has registered an FIR filed by an aspiring model-cum-actress alleging rape by Bhushan Kumar, official sources said here on Friday.

According to an officer with the DN Nagar Police Station in Andheri, the 30-year-old victim has claimed in the FIR that she was sexually exploited and repeatedly raped by Bhushan Kumar between 2017 and 2020 under the false pretext of giving her roles in films.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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