Amid 150 mm rain in 12 hours in parts of Mumbai, IMD keeps orange alert intact | Mumbai News

Amid 150 mm rain in 12 hours in parts of Mumbai, IMD keeps orange alert intact

Mumbai: Heavy rain continued to lash Mumbai on Wednesday, inundating several low-lying areas, triggering tree fall incidents and pushing rainfall in parts of the eastern suburbs well past the 150 mm mark within 12 hours.The India Meteorological Department (IMD) issued a red nowcast warning for Mumbai around 12.30 pm on Wednesday, warning of intense spells of rain over the next few hours. The city continues to remain under an orange alert till July 5, forecasting heavy to very heavy rainfall at isolated places. Neighbouring Thane has been placed under a red alert for July 4.The downpour also brought some relief to the city’s strained water reserves, with lake levels witnessing a marginal rise and Powai lake overflowing. Powai lake supplies water only for industrial use.At 170 mm, Mankhurd recorded the highest rainfall for the 24 hours ending 8 am on July 1. Chembur recorded 169 mm, Govandi 163 mm and Byculla 162 mm.Other areas that received heavy showers included Mumbai Central (142 mm), Bandra-Kurla Complex (132 mm), Borivli (126 mm), Lower Parel (125.4 mm) and Dindoshi (123 mm).Rain continued through the day. Between 8 am and 9 pm on July 1, IMD stations recorded intense rainfall, with Mulund topping the chart at 166 mm, followed by Bhandup (155 mm), Powai (152 mm) and Vikhroli (152 mm).In the western suburbs, Santacruz recorded 141 mm and Andheri 135 mm. In the city, Lower Parel recorded 84 mm, followed by Matunga (82 mm), Wadala (78 mm) and Dadar (74 mm).The current meteorological analysis and numerical weather guidance indicate that an offshore trough at mean sea level extending from south Gujarat to Karnataka is likely to persist during the week.“An upper air cyclonic circulation over north Bay of Bengal and neighbourhood, extending between 1.5 km and 7.6 km above mean sea level and tilting southwestwards with height, is also present. Under its influence, a low-pressure area is likely to form over the northwest Bay of Bengal and adjoining regions around July 3, 2026. In addition, a trough extending from this cyclonic circulation over the north Bay of Bengal and neighbourhood to the northeast Arabian Sea, across south Gangetic West Bengal, Odisha, Chhattisgarh, north Maharashtra and Gujarat between 4.5 km and 7.6 km above mean sea level, is also active,” the IMD said, pointing to the reasons for the ongoing wet spell.The persistent rain led to waterlogging at several vulnerable stretches, including SV Road in Andheri and Lokhandwala Circle, slowing vehicular movement during the day.In Navi Mumbai, a Dharavi teenager, Ashraf Shaikh (17), was drowned in a pond at the foothills of the Kharghar hills behind Bharati Vidyapeeth. A group of teenagers from Dharavi were on a monsoon trip to the area. Some of them had entered the pond for a swim.Amid the disruption, the rains brought encouraging news for Mumbai’s water supply. The combined stock in the seven lakes supplying drinking water to the city increased from 6.75% on Tuesday to 7.18% on Wednesday, offering some relief after weeks of dwindling reserves and the ongoing 10% water cut. The rainfall also caused Powai Lake to overflow at around 5.30 am on Wednesday. The lake, which has a storage capacity of 545 crore litres, is not part of Mumbai’s potable water supply and is used for industrial purposes.

Crypto assets brought under MPID act for recovery of funds | Mumbai News

Crypto assets brought under MPID act for recovery of funds

Mumbai: To tighten the legal framework for recovery of investor assets, virtual digital assets (VDAs) like cryptocurrencies and other blockchain-based digital instruments can be now attached in cases involving financial fraud. Maharashtra legislature on Wednesday passed amendments to the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (MPID Act). The Bill, introduced by chief minister Devendra Fadnavis, seeks to curb delays in MPID cases by capping adjournments before designated courts and making it mandatory for financial establishments to deposit 50% of their total liability before their appeals against recovery orders can be entertained.The state govt said the amendments were necessitated by the growing use of cryptocurrencies, digital coins and other blockchain-based assets in financial frauds, unauthorised deposit schemes and investor scams. Since such assets were not covered under the existing definition of “deposit”, the law was unable to effectively deal with frauds involving virtual digital assets. Under the amendment, the definition of “deposit” in the Act has been expanded to include any Virtual Digital Asset, with the term carrying the same meaning as assigned under Section 2(111) of the Income-tax Act, 2025. This provision was introduced to bring cryptocurrencies, non-fungible tokens (NFTs), and similar digital assets into the tax net.To ensure quicker disposal of cases, the Bill provides that designated courts hearing MPID matters can grant no more than two adjournments. A third adjournment will be allowed only in exceptional circumstances after the court records written reasons.The amendments also seek to discourage financial establishments from filing appeals merely to delay repayment to investors. Under the revised law, no appeal against an order of a designated court will be entertained unless the financial establishment deposits 50% of its aggregate liability with the Competent Authority.