top of page

By:

Abhijit Mulye

21 August 2024 at 11:29:11 am

Police form SIT, arrest four

Achalpur Municipal Council serves ‘bulldozer justice’ Mumbai: Amid growing public outrage in Vidarbha, police in Amravati arrested three associates of the prime accused, 19 year old Ayan Ahmed Tanveer in the scandal involving recording and circulation of obscene videos of young women. The police also formed a 47-member Special Investigation Team even as authorities say preliminary inquiries point to a large cache of material and possible involvement of minors, prompting a rapid escalation of...

Police form SIT, arrest four

Achalpur Municipal Council serves ‘bulldozer justice’ Mumbai: Amid growing public outrage in Vidarbha, police in Amravati arrested three associates of the prime accused, 19 year old Ayan Ahmed Tanveer in the scandal involving recording and circulation of obscene videos of young women. The police also formed a 47-member Special Investigation Team even as authorities say preliminary inquiries point to a large cache of material and possible involvement of minors, prompting a rapid escalation of the probe and local administrative action that included partial demolition of the accused’s house. Police on Wednesday took into custody Uzair Khan Iqbal Khan (20), Mohammad Saad Mohammad Sabir (22) and Tabrez Khan Taslim Khan (24) after Ayan’s arrest on Monday. Court remand for the newly arrested trio runs until 21 April as investigators intensify questioning. Officials have so far identified eight victims, but local claims and media reports suggest the scandal may involve far larger numbers — with some sources alleging up to 180 girls and as many as 350 videos circulating online. A cyber team is working to recover deleted files and trace the full extent of distribution. Unauthorised Structure The Achalpur Municipal Council deployed a bulldozer to raze part of the accused’s house, citing unauthorised construction; officials said the timing was coincidental to the probe, but the action has added to tensions in the area. Police have formed a 47 member Special Investigation Team to coordinate forensic, cyber and field inquiries and have appealed to the public not to share any images or clips, warning that doing so is a criminal offence. Female officers are assisting in victim identification and interviews to ensure sensitivity and confidentiality. Investigation Focus Investigators have seized numerous objectionable videos from the prime accused’s phone and are attempting to match faces and locations to identify victims. The accused have been booked under relevant sections of the Bharatiya Nyaya Sanhita, the POCSO Act where minors are involved, and provisions of the Information Technology Act for non consensual recording and distribution. Police stress that no formal FIRs from victims are required to pursue the case and have offered the option of filing Zero FIRs to protect identities and fast track action. The scandal has provoked a political storm in Amravati. Opposition leaders have demanded a high level probe and some local groups have called for shutdowns, prompting heightened security. While there have been claims about the accused’s political links, party officials say he has been expelled; nevertheless, the episode has intensified scrutiny of law and order and online safety for young women. Community leaders and activists are pressing for swift arrests of all accomplices and for systemic measures to prevent similar crimes.

Retirement - Your Biggest Festival

During the recent festive season - Navratri, Dussehra, and Diwali - you must have noticed how expenses tend to surge during these times. Expenses do rise significantly during festivals and vacations. Similarly, retirement, often viewed as the grandest festival and vacation of your life, can bring higher financial demands due to increased free time and completing your wishlist. This is why proper retirement planning is crucial. If not planned properly, you would have to significantly tone down your standard of living, after retirement.


When should you start planning for retirement?

The simple answer is: as early as possible. Ideally, retirement planning should start the moment you begin earning.


Let us say that you start working at the age of 25. Your employer is giving you a salary. You plan to work till the age of 55 (for 30 years). Is your salary only for these 30 years? That is not the case. When you are working for 30 years, your employer is paying salary not only for your 30 working years but also for the years that you will stay alive after retirement. It is not only for the expenses from age of 25 to 55 but also for the expenses from age 55 to 85 years (assuming life expectancy).


The power of compounding

Many youngsters delay retirement planning, assuming they have time, but starting early allows you to maximise power of compounding - where the majority of benefits are back-ended in nature. For example, if you consider a Systematic Investment Plan (SIP) in equity or hybrid mutual funds, the longer your money stays invested, the more it grows. The earlier you start, the smaller the monthly investment required to achieve a large corpus at retirement. The more you delay, the harder it gets.


Advisor zaroori hai

Firstly, take help of an expert - a financial advisor. Wealth creation and achieving financial goals is not a do-it-yourself activity. It is sensitive and complicated - the cost of doing nothing and going wrong is massive!


Parameters for retirement planning calculation

Here are key parameters to consider when calculating your retirement needs:

·  Current Age

·  Target Retirement Age

·  Current Monthly Expenses

·  Inflation Rate

·  Life Expectancy


For example, if you are 30 today, planning to retire at 55 with an assumed life expectancy of 85, and your current monthly expense is 50,000, inflation (around 6 per cent) would push your retirement fund requirement to 7 crores. A monthly SIP of 45,000 in equity or hybrid mutual funds can help you reach this goal over 25 years. The later you start, higher your monthly expenses and sooner you wish to retire - all 3 parameters would increase your retirement corpus requirement.


Start now

Achieving financial freedom isn’t difficult, but it requires discipline. If you haven’t started yet, the next best time to begin is now.


(The author is a Chartered Accountant and CFA (USA). Financial Advisor.  Views personal. He could be reached on 9833133605.)

 

Comments

bottom of page