Mumbai: The Mahim police have registered an FIR against former and current office-bearers of the Saraswati Mandir Education Trust, Senapati Bapat Road, Mahim (West), along with the proprietor of two private consultancy firms, for allegedly collecting Rs 75.50 lakh to secure CBSE affiliation for Class 9 and 10 and committing fraud.

The accused have been identified as former and current secretary Sanjay Kashinath Sukhtankar, 69, former committee member Mangesh Narayan Rajadhyaksh, 67, former trustee Anil Pai Kokade, 77, former chairman Vinay Bhagwant Rege, 79, and Anupama Khetan, 43, proprietor of Paribhasha Educational Services and Shashwat Solutions.

According to the FIR, complainant Dr. Manohar Sanjeev Kamat, 71, a medical practitioner and former vice-president of the institution (2015–2020), alleged that the school management decided nearly a decade ago to begin a CBSE section and reserved one school building for this purpose. Classes were conducted up to Class 8 with state government permission, but CBSE affiliation is mandatory for Classes 9 and 10.

In 2018, when the first batch reached Class 8, an application for CBSE affiliation was submitted. However, some committee members later claimed that the school did not meet CBSE’s infrastructure norms, making approval unlikely.

Two management committee members Mangesh Narayan Rajadhyaksh and Mohan Nerulkar, along with trustee Anil Pai Kakode allegedly informed the board that Anupama Khetan, proprietor of Paribhasha Educational Services and Shashwat Solutions, could “facilitate” the approval as she was an “agent” experienced in securing CBSE affiliation. They also suggested that bribes might need to be paid to senior CBSE officials.

Then-secretary Sanjay Sukhtankar allegedly supported this proposal. On their recommendation, the management allegedly issued a cheque for Rs 30 lakh to Khetan, formalised through an MoU for account and audit purposes. Six months later, Khetan allegedly began paperwork for the affiliation process and arranged visits by CBSE inspection officials.

Later, she allegedly demanded an additional Rs 30 lakh via cheque and Rs 15 lakh in cash for “service charges”. Committee members informed Dr. Kamat that these payments were approved, and minutes of the management meeting on 17 August 2020 recorded the decision to pay her Rs 15 lakh in cash. However, no such entry appeared in the audit report, indicating the cash payment was made off the books.

Despite these payments, in March 2022, CBSE formally rejected the school’s affiliation request. A newly appointed committee in December 2021 also reviewed the matter and reapplied, but without success.

In February 2022, Khetan was called for discussions, during which it emerged that she had allegedly taken a total of Rs 75 lakh from the institution, but no substantive work had been carried out. Dr. Kamat submitted a written complaint to the new management demanding an inquiry into corruption and misuse of funds. When no action was taken, he approached the Mahim Police and the Charity Commissioner.

Following an inspection initiated by the Charity Commissioner, the inquiry officer noted that audit reports showed Rs 21.60 lakh (2019–20) and Rs 53.92 lakh (2020–21) recorded as “professional fees”. Since inquiry officers are not audit experts, the complainant was advised to seek a special audit through appropriate legal channels.

Based on Dr. Kamat’s complaint and subsequent findings, the Mahim police have registered a case under IPC Sections 406 (criminal breach of trust), 420 (cheating), and 34 (common intention) against the accused office-bearers and Anupama Khetan. The matter remains under investigation.

Mumbai, Nov 21: Indian benchmark indices opened in mild red zone on Friday, amid negative global cues and fading investor hopes of a US Fed rate cut in December.

As of 9.25 am, Sensex declined 80 points, or 0.09 per cent at 85,551 and Nifty dipped 15 points, or 0.05 per cent to 25,860.

The broadcap indices performed in line with the benchmarks, with the Nifty Midcap 100 down 0.30 per cent and the Nifty Smallcap 100 dipped 0.34 per cent.

TCS, Asian Paints and NTPC were among the major gainers in the Nifty Pack, while losers included Hindalco, Shriram Finance, Tata Steel and ICICI Bank.

All the sectoral indices on NSE were trading in red except Nifty Auto (up 0.30 per cent). Nifty Metal down 0.79 per cent was the biggest loser.

Analysts said that India will gain if the AI trade slows down and capital begins to shift into non-AI stocks in emerging markets.

All of the major Asia-Pacific markets fell in early trading sessions after US AI and tech stocks shed value and investors lost hopes of a December rate cut by the Federal Reserve.

The volatility of the market has increased evident by Nasdaq, the barometer of AI trading, ending the day down 2.15 per cent, crashing 4.4 per cent from the intraday peak.

“This type of market movement indicates that there will be more volatility in the future. AI stock prices may see fresh buying at lower valuations. We will need to wait and observe the course of this unstable period,” an analyst said.

The US markets ended in the red zone overnight, as Nasdaq slipped 2.16 per cent, the S&P 500 dropped 1.56 per cent, and the Dow declined 0.84 per cent.

In Asian markets, China’s Shanghai index dipped 1.71 per cent, and Shenzhen dipped 2.52 per cent, Japan’s Nikkei dipped 2.31 per cent, while Hong Kong’s Hang Seng Index declined 2.17 per cent. South Korea’s Kospi dropped 3.94 per cent.

On Thursday, foreign institutional investors (FIIs) sold equities worth Rs 284 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 824 crore.

Mumbai: Mumbai woke up on Friday to an unusually cool and refreshing November morning, offering residents a brief but welcome break from the city’s otherwise warm, muggy climate. Minimum temperatures dipped below 22°C, and early risers enjoyed clear skies, light winds and a mild chill, conditions that made the metro city feel closer to winter than its typical tropical setting.

But alongside the pleasant change came a stark reminder of the city’s environmental challenges. A thin, lingering layer of smog settled over the skyline, softening visibility and muting the otherwise serene morning. While the cool breeze provided comfort, it failed to disperse the pollution that has been steadily building through the month.

The India Meteorological Department (IMD) said clear skies are expected to persist through the day, with maximum temperatures likely to climb to 34°C by afternoon. The early-morning coolness is likely to continue for the next few days, meteorologists added, although improving air quality remains uncertain.

Mumbai’s overall AQI touched 263, keeping it consistently in the unhealthy category by Friday morning. This marks a sharp escalation from earlier this month, when the city recorded moderate air quality. Several pockets across the city reported alarming pollution levels, especially in industrial and densely populated zones.

The Wadala Truck Terminal recorded the day’s highest AQI at 375, classified as severe. Malad and Mazgaon followed closely at 305 each, also falling in the severe category. Worli (303) and Chembur (302) were similarly placed, showing how widespread the pollution surge has become.

Suburban areas showed slightly better air quality but still remained within worrying bands. Govandi registered an AQI of 167 and Kandivali East 180, both falling in the poor category. Parel-Bhoiwada (207), Borivali West (220) and Mulund West (220) reported unhealthy air, highlighting that few pockets of the city were spared.

For perspective, AQI between 0–50 is considered good, 51–100 moderate, 101–150 poor, 151–200 unhealthy and anything above 200 severe or hazardous.