Within 36 months there will no longer be a discernable distinction between sustainable and traditional investing, predicts Mark Tulay

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In John Lennons last album in 1980 he released the song Beautiful Boy, which showcased his deep love for his son Sean. The songs lyrics included the prophetic quote Life is what happens when you are busy making other plans. As we struggle to bring into focus the long-term impacts of a post-COVID-19 world, Lennons quote is a poignant reminder of the uncertainties that lie ahead for sustainable and responsible investors.

We are now approaching an inflection point in the crisis, where savvy investors are fundamentally reassessing economic, environmental, social and governance factors to adjust to the new normal. Here, I share my perspective on how astute investors can equip themselves for a volatile future by determining whether the companies they hold are future-fit.

Current State of Play

According to Morningstars Jon Hale, funds that integrate environmental, social and/or governance factors registered record growth in Q1 2020, eclipsing the previous record in Q4 2019. Sustainable funds in the US set a record for flows in the first quarter, wrote Hale. ETFs, passive funds and iShares dominate as US ESG funds gather $10.5bn in the first quarter.

Whats more, evidence suggests that ESG-attuned funds were sticky and held their value relative to their benchmarks. This early signal bodes well for sustainable investors and could serve as a proof point for how investors can trust ESG funds in turbulent markets.

Many investors are now reimagining the future state of investing in the aftermath of the pandemic. Important considerations come into play in preparing for the future, such as: What does the US governments current response to the crisis portend for the economy over the next three years? How do we know if a company is resilient and positioned for growth over the long term? And, do we have the information we need now to evaluate companies long-term performance outlook?

Predictions for the future: Six emerging mega-trends in the US

Over the next 12 to 36 months, the following six mega-trends promise to reshape the business practices and investing:

1. Record deficits squeeze companies that rely on government funding

In 2021, political and financial market pressure for deficit reduction will mount as markets adjust to the economic realities resulting from the record stimulus. This will adversely impact companies that rely on government funding as budgets are slashed in an effort to stabilise the economy.

2. Inflation roars as a result of unprecedented global stimulus and quantitative easing

As of April 2020, the first wave of COVID-19 stimulus and quantitative easing surpassed $2trn, three times the amount of the 2008 financial crisis bailout and more than five times the amount of President Obamas 2009 stimulus. The likely result of the most extensive bailout in US history is that inflation rates will soar, perhaps eclipsing 10%, similar to what the US experienced in the early 1970s.

3. Commercial real estate bubble emerges as a result of record levels of small businesses closures

As of today, over 50% of all stores in the US are closed. Government support will help, but will not be enough or come fast enough to prevent a commercial real estate bubble in the US. Whats more, the growth of online shopping will continue to accelerate, exacerbating pressure on brick and mortar commerce.

4. Unemployment hovers around ten percent for a sustained period

In mid-April, unemployment claims in the US jumped to 26 million, which is more than the total number of jobs created over the last ten years. This translates into an unemployment rate of approximately 16%. The unemployment rate should level off at around 10% within twelve months, but we are in for a period of sustained high unemployment rates for the foreseeable future in the US.

5. Multiple capitals thinking begins to transform investment decision making

The recent $2trn stimulus includes a $500bn bailout for companies that were hardest hit by the pandemic. Many progressive thought leaders, such as American Prospects David Dayen, objected to the bailout on the grounds that these corporations wouldnt need it if they hadnt squandered their record-high profits on payouts to CEOs and shareholders. As a result, a new way of thinking is emerging that is transforming the way we value a companys relationship with nature, people, society and shareholders. This Capitals Thinking approach is being championed by the Capitals Coalition and aims to reshape how investors engage on corporate governance and value the relationship between commerce, people and nature.

6. Sustainable (ESG) investing becomes the new normal in the US

Within 36 months there will no longer be a discernable distinction between sustainable and traditional investing. As sustainable investing continues to scale and become infused in Main street and Wall Street, high-quality investment managers will utilise multiple capitals thinking and integrate financially material ESG considerations in engagement strategies and investment decision making. This will be the silver lining of the crisis.

Call to Action

Collectively, these mega-trends - each with a distinct but linked role in the emerging investment landscape - will:

Transform the way corporate sustainability information is utilised by developing new disclosure expectations for material sustainability information and value generating strategies based on existing standards;

Reposition corporate reporting to tell a more complete story of how an organisations strategy, governance, performance and products lead to the creation of value over the short, medium and long term, through a multiple capitals prism;

Improve the precision, materiality and disclosure of sector-based sustainability and ESG KPIs and accounting metrics;

Accelerate the integration of ESG factors into investment and credit rating decision making.

The time has passed for small commitments, hyperbole and delays in embracing sustainable investing. Now is the time for leadership, investment and action. Companies and investment managers that remain on the sidelines will sacrifice their opportunity to shape their own, and the planets, future.

Mark Tulay is Founder and CEO of Sustainability Risk Advisors

Link:
The New Normal in Sustainable Investing in the aftermath of COVID-19 - Responsible-Investor.com

Canadian defined benefit pension plans saw their sharpest quarterly decline since 2008 due to the economic impact of the COVID-19 pandemic, as both the RBC Investor & Treasury Services All Plan Universe and the Northern Trust Canada Universe posted losses of 7.1% during the first quarter of the year.

Despite the steep drop, it was a modest decline in light of the unprecedented conditions, Katie Pries, CEO of Northern Trust Canada, said in a statement. In a volatile market riddled with fear, uncertainty, and unpredictability, Canadian pension plan sponsors navigated through uncharted territory, seeking a path to safety.

The MSCI World Index tumbled 13.3% during the quarter, with growth stocks considerably outperforming value stocks. All economic sectors saw negative returns, with the energy sector faring the worst, while information technology (IT) performed the best. Because the Canadian dollar weakened against the US dollar during the quarter, plans with unhedged exposure to non-Canadian equities were somewhat sheltered from local currency losses, according to RBC.

Canadian equities as represented by the S&P/TSX Composite Index plummeted 20.9% during the quarter, erasing the annual gains from all of last year and significantly underperforming the global market. While the effects of the pandemic were primarily to blame for this, the dispute over the natural gas pipeline and the Russia-Saudi Arabia oil price war were also contributing factors.

US equities fell 11.7% in Canadian dollars, as international developed markets as tracked by the MSCI EAFE Index ended the quarter down 15.2%, while the MSCI Emerging Markets index, which was hurt by both the pandemic and a strong US dollar, lost 16.1% during the quarter.

The FTSE Canada Universe Bond Index returned 1.6% during the first quarter, which provided the plans some safety from losses in the equity markets. After the Bank of Canada cut interest rates, the yield curve steepened, and short-term bonds outperformed long-term bonds. Federal bonds outperformed provincial and corporate bonds, and mid-term bonds outpaced both short- and long-term bonds.

In search of a safe haven from the falling markets, investors sold off riskier investments and turned toward government bonds as the FTSE Canada High Yield Index lost 9.0%, and the FTSE Canada Federal Bond index returned 5.1% during the quarter.

It has been an exceptionally difficult period for Canadian pension plans to navigate, as the markets have been experiencing an unprecedented amount of volatility across asset classes, David Linds, RBCs head of Canadian Asset Servicing, said in a statement.

However, the substantial monetary and fiscal policy response from governments across the globe gives us room for optimism. While its difficult to speculate on what may happen over the short term, we hope these measures will lead to some reawakening of our economic growth in the near future.

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Tags: Canada, Canadian, David Linds, Defined Benefit, Katie Pries, Northern Trust, pension, RBC Investor & Treasury Services

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Canadian Defined Benefit Plans Have Worst Quarter in 12 Years - Chief Investment Officer

Mahant Ramdas of Muktidham Ashram in Haryanas Mewat was attacked where a mob misbehaved, beat him up and also threatened to kill him. Mewat in Haryana is a hotbed of organised crime, cattle smuggling, illegal Rohingyas and mob violence. Speaking to OpIndia the Hindu organisations which have come out in support of the Mahant said that on April 29, 2020, the culprits made derogatory remarks on religious lines against Mahant Ramdas Maharaj and then threatened to drive away the Sadhus in the area by force.

When Mahant Ramdas went to the police to file an FIR, the police refused. When OpIndia reached out to the police, Punhana Thana SHO directed us to talk to the headquarters regarding the case. He also claimed that no such incident has taken place. The Hindu organisations are saying that the police are trying to avoid filing an FIR and getting Mahant Ramdas and the accused to talk over it and sort it out.

There is anger amongst people regarding the incident in Punhana as well as neighbouring areas like Pinganwa, Nagina, Firozepur Zirka, Nuh, Faridabad, Palval and Hodal. A complaint has been given to the local city police chowki. Religious and social organisations condemned the incident and demanded a fair probe by the police.

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Speaking to OpIndia, Mahant Ramdas said that on 28th April, 2020, he was returning home from a nearby medical store. Some men sitting there passed derogatory comments on the religion. The men said these babas and sadhu-sant have spoilt the environment here. We should drive them away from Punhana. If they dont get out, then set them on fire and kill them. They are such troublemakers, Mahant Ramdas explained how the events transpired. He said that when he objected to such comments, the culprits picked up sticks and tried to attack them. Somehow he managed to save himself and get away even as they threatened to kill him.

Mahant Ramdas Maharaj has demanded a fair probe and inquiry in the above incident. When religious and social organisations heard of the incident they gathered at the police station. DSP Ashok Kumar, SHO Ajayveer Bhadana and well as chowki in-charge Jagdish Chand have assured proper investigation into the matter. However, the Hindu organisations say that they too are trying to resolve the matter through talks and not filing an FIR.

According to the Hindu organisations, no police action was taken till 8:30 PM last night. Speaking to OpIndia, the Hindu organisation said that if the police does not take any action by 30th April, they will hold demonstration outside police station.

Speaking to OpIndia, the local people there said that this is a Muslim dominated area and this was third attack on the Hindus in past one week. Police has also not taken any action against the culprits. Few days back, a mob of 200-300 people gathered and misbehaved with a Hindu resident over his social media post, they said.

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Earlier this month, a mob lynched two Sadhus in Maharashtras Palghar even as two policemen stood there as mute spectators. Earlier this week, two Sadhus were found murdered in Uttar Pradeshs Bulandshahr. The accused was found roaming half-naked in an intoxicated condition with a sword in his hand.

Excerpt from:

How troublesome are these Sadhus, just burn and kill them: Mob in Haryanas Mewat attacks Mahant Ramdas of Muktidham Ashram - OpIndia

The director behind Assassins Creed Valhalla has touched base on how the the game is balanced in comparison to the notorious bloat of its predecessor, and the good news is it sounds like players wont be burdened by excessive grinding.

Speaking with Press Start, Ashram Ismail, who also worked on the critically acclaimed Assassins Creed IV: Black Flag, revealed that players wont be restricted whether they wish to follow the main narrative or venture off and build their settlement or explore.

Related Content Assassins Creed Valhalla Screenshots

With Valhalla, with the balancing of the game, our goal is to just let players play the content they want. Again we built a really intriguing world that takes place in Dark Ages England and Norway. By the way, when you leave Norway to England, you can always go back to Norway, so we built these really beautiful breathtaking living worlds, and we want players to play the content as they wish to play it. Thats the way the game is being balanced.

So, people want to focus on narrative, theres no issue there, people want to focus on their settlement, again, no issue there.

Its really up to players to decide how they want to consume the content. Thats always been our angle and again, this, were showcasing Eivos personal journey, were really focused on that. So again, if people want to focus on that

Assassins Creed Valhalla is scheduled for release on PS5, PS4, PC, Xbox Series X, and Xbox One in holiday 2020.

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Assassin's Creed Valhalla Is Balanced To Allow You To 'Play The Content You Want' - PlayStation Universe

By: Express News Service | Rajkot | Published: April 30, 2020 7:03:54 pm Kundanika kapadia is best known for her novel Saat Pagla Aakashma.

Noted Gujarati author Kundanika Kapadia died at her residence in Nandigram ashram in Vankal village of Valsad district on Thursday. She was 93.

She is best known for her novel Saat Pagla Aakashma.

Those associated with Nandigram Ashram said that Kapadia had received treatment for intestine cancer in 2018 and was leading a normal life thereafter.

But the disease recurred with metastasis and that is the cause of death. After the disease recurred, she refused to take rigorous treatment for the second time. Being an extraordinary soul, she was highly determined and knew her time was up. Her health had worsened over the last three-four days, Amiben Parikh, one the trustees of the ashram, told The Indian Express.

Kapadia and Makrand Dave, the Gujarati poet who was her life partner, had co-founded the Nandigram ashram in 1985 to serve the downtrodden. They had no children. Dave had died in 2005.

Kapadia was born in Limdi town in Surendranagar district in 1927. Her father was a homeopathy practitioner while her mother was a homemaker. Kapadia had graduated in History and Political Science.

She used to live in Mumbai before shifting to Nandigram. Her first collection of short stories, titled Premna Anshu was published in 1954. Later on she authored four other collections of short storiesVadhu ne Vadhu Sundar (1968), Kagalni Hodi (1978), Java Daishu Tamne (1983) and Manushya Thavu (1990). She also wrote three novels, Parodh Thata Pahela (1968) , Aganpipasa (1972) and Saat Pagla Aakashma (1984).

Saat Pagla Aakashma won her Gujarati Sahitya Academy award in 1985.

Her works explored philosophy, music and natural world. Premna Anshu and Kagalni Hodi are collections of good short stories. But her creative personality came into its own in her novels. Parodh Thata Pahela, which deals with pain and suffering of human life and how to find happiness by transcending them, is deeply philosophical. She broke new grounds by introducing in Gujarati literature self-assertion of women as subject matter through her novel Saat Pagla Aakashma (literally meaning seven steps in the sky). The subject of the novel was new to Gujarati literature as it talked of women as an independent entity, Prof Jignesh Upadhyay, Associate Professor of Gujarati literature at Dharmendrasinhji Arts College in Rajkot said.

Prof Upadhyay said that Kapadias work was influenced by Gujarati author Dhumketu, Ravindranath Tagore, Sharadchandra Chattopadhyay and William Shakespeare.

She had also published two collections of essays. Besides editing literary magazines Yatrik and Navneet she also edited Gulal and Gujar, a collection of poems written by Dave.

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Noted author Kundanika Kapadia dies at 93 - The Indian Express

New Delhi: Indian cinema's gem of an actor Irrfan Khan has bid this material world a goodbye too soon! His untimely demise has sent shockwaves across the nation. The 53-year-old Irrfan breathed his last on Wednesday morning, April 29, 2020. He was rushed to Kokilaben hospital due to colon infection a day before.

The actor par excellence battled a rare form of cancer - Neuroendocrine Tumour for two long years and had shared the news of his illness first on social media. As soon as the unfortunate news of his demise broke online, celebs, fans and well-wishers thronged social media to offer their condolences.

Reacting to Irrfan Khan's death, Prasanna Heggodu, a playwright-social activist and latter's friend shared some of his pictures on Twitter. Irrfan and wife Sutapa visited Badanwal Gandhi Ashram, stayed there and these pictures bring forth the 'real' and humble side of their personalities, despite being renowned.

PM Narendra Modi, President Ram Nath Kovind and other political leaders including entertainment industry people have mourned his death and offered condolences to family and friends in this hour of grief.

Irrfan's last rites were performed today at the Versova Kabrastan in Andheri, Mumbai. His relatives and close ones paid their last respects.

"The legendary actor was buried at the Versova Kabrastan at 3 pm this afternoon soon after the news of his passing away was announced. In presence were his family, close relatives and friends. Everyone paid their final respects and mourned the loss of his passing away. We pray for his peace and we hope hes in a better place today. He was strong in his fight, and we all have to be strong too in this loss", read the official statement.

Throughout his illustrious showbiz career, the master craftsman was applauded for several of his notable works and praised for many.

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These rare pics of Irrfan Khan with wife Sutapa at Badanwal Gandhi Ashram bring forth his humble and unseen... - Zee News

Chit Chat Records' 'Brazilian Compilation Series Vol. 1'; Orlando Julius' 'Disco Hi-Life; Brijean's 'Walkie Talkie.'(Courtesy of the artists)

Since shelter in place started, Ive lost my taste for mainstream pop songs.

At first, being home alone 24/7 made me antsy. But now, instead of hustling from work to gym to party, Im meditating, journaling and trying to become fascinated with my inner life instead of fixating on a stressful external world I cant control.

I noticed my listening habits changing along with this shift in lifestyle. Pop songs packaged into a neat 3.5 minutes feel too structured and rushed when theres nowhere to be. And the lyrics of mainstream releases describe things that belong to the old world. None of us are going to clubs and dancing with friends or strangers; relationships have taken on completely new shapes.

When this all started, I turned to an old favorite album, Journey in Satchidananda by Alice Coltrane, featuring avant-garde saxophonist Pharoah Sanders. Glittering with Coltranes resonant harp playing, the albums mood is uplifting yet pensive, contemplative yet serenea perfect soundtrack for making peace with a difficult reality while hopefully looking towards the future. Coltrane composed it shortly after the death of her husband, the legendary saxophonist John Coltrane, and it marked the start of a spiritual journey that eventually led to her opening an ashram in Southern California.

Playing that album on repeat renewed my appreciation for longwinded sonic explorations. My playlists suddenly became full of Coltrane, Sanders, trumpet player Don Cherry and pianist Lonnie Liston Smith, all top-tier jazz players whose music took a spiritual, psychedelic bend in the 70s. That eventually led me to Nigerian disco and Afrobeat, Brazilian tropical house and other genres with funky pulses, smooth grooves and luxuriously lengthy runtimes.

With Oakland-based streaming service Bandcamp waiving its fees on May 1 so that 100% of sales go to independent artists and labels affected by the pandemic, what better time to indulge in unhurried, mood-elevating and escapist tunes? Here are some recommendations sure to inspire a little joy and maybe a kitchen dance partysomething we all need right now.

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Bandcamp Recs: Escapist Tunes and Mood-Lifting Grooves to Melt Away the Blues - KQED

THE Real Marigold Hotel series four will see eight celebrities head to India to trial out retirement there.

But where did they film the fourth series?

The group will head six thousand miles away from home TO the colourful coastal city of Puducherry, and then on to the beautiful town of Rishikesh.

The celebrities will have have time to reflect on the ups and downs of life, open up to each other and find out if they could spend their golden years there.

Here we take a look at the area they are staying in.

This coastal town is on the verge of the Indian Ocean.

Puducherry is one of the most popular tourist spots for national and international visitors.

Its inhabitants are drawn from all parts of the world is situated on the outskirts of the city.

There are several temples, churches, monuments, parks, and mosques which attract tourists.

Set in the foothills of the Himalayas, this idyllic location offers breathtaking scenery.

Rishikesh is a city in Indias northern state of Uttarakhand, beside the Ganges River.

The river is considered holy, and the city is renowned as a center for studying yoga and meditation.

Temples and ashrams line the eastern bank around Swarg Ashram, a traffic-free, alcohol-free and vegetarian enclave upstream from Rishikesh town.

Britt Ekland, Duncan Bannatyne, Dame Zandra Rhodes, Paul Chuckle, Henry Blofeld, John Altman, Susie Blake and Barbara Dickson arrive in India and get their first taste of the chaotic traffic on the bus to Puducherry and their new home by the sea.

Although Britt struggles with the heat and Paul is struck down

with an upset stomach, the group throw themselves into their new surroundings ready to embrace retired life in India.

Keen to see what the region has to offer, the senior citizens embrace everything within the local vicinity, including an early morning trip to the beach for a dip in the Indian Ocean, a visit to a traditional coffee house and a trip to Puducherrys vibrant and colourful Goubert market.

Whilst yoga enthusiast Duncan wastes no time immersing himself into the local way of life, he encourages John to join him as they embrace this ancient Indian practice together.

Susie and Henry decide to visit an Ayurvedic doctor to see if he can help with the aches and pains of old age. Susie is impressed with the doctors healing hands, and shocked at his precise diagnosis when he reveals more than expected.

The show returns TONIGHT (April 30, 2020).

You can watch it on BBC One at 9pm.

It will run for 4 episodes.

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Where is Real Marigold Hotel 2020 filmed? - The Sun

Express News Service

LUCKNOW: In a major turn of events, the Allahabad High Court has rejected allegations of bias and harassment against UP government's Special Investigation Team (SIT) which is probing Swami Chinmayanand sexual abuse case. The allegations were raised in a complaint filed in the court by the Shahjahanpur law student, who has charged Swami Chinmayanand with sexual harassment.

Consequently, the court, on Thursday, directed the concerned trial court to pass any order which it may deem fit and proper in accordance with law after taking cognizance on the police report.

Hearing an application filed by the law student, who has accused former Union minister Swami Chinmayanand of sexual harassment, a division bench comprising Justice Manoj Misra and Justice Deepak Verma observed that they were satisfied with the SIT probe as it had duly investigated all aspects and after a thorough investigation, had submitted a police report. Hence no further action is required, said the bench.

In her application moved before this division bench of Allahabad HC, which is monitoring the trial on SCs directive, the law student had demanded setting up of a fresh investigation team and sought action against the officials of the existing SIT for allegedly harassing and assaulting her family members. She claimed that the SIT was partial and that Chinmayanand had been offered special treatment through the course of the investigation as if he were a state guest.

The court accepted the SITs contention that it could not be labelled as biased, as it had strongly opposed Chinmayanands bail application, which resulted in a lower court refusing to grant him bail at one stage. However, the court also rejected the girls allegations of her familys harassment at the hands of SIT.

Notably, the LLM student of SS Law College, run by Mumukshu Ashram of Chinmayanand, had accused the Swami of rape and harassment for over a year. Following her complaint, Chinmayanand was booked under Sections 376 C (sexual intercourse by a person in authority), 342 (Wrongful Confinement), 354 D (stalking) and 506 (criminal intimidation) of IPC. He was arrested on September 20, 2019 and languished in Shajahanpur district jail till he got a bail from High Court on February 3, this year.

The law student and three of her accomplices were booked in the extortion case by the Special Investigation Team (SIT) on the basis of the complaint filed by Chinmayanand. All the four were accused of demanding Rs 5 crore from the former Union minister while threatening him with the release of his objectionable videos.

The law student was booked under Sections 385 (Putting person in fear of injury in order to commit extortion), 507 (Criminal intimidation by an anonymous communication), 201 (Causing disappearance of evidence), 34 (Acts done by several persons in furtherance of common intention) of IPC and Section 67 (A) of IT Act.

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Chinmayanand case: HC rejects law students allegations of bias, harassment against SIT - The New Indian Express

Bollywood celebrities have been known to explore their spiritual sides and there have been many instances of it. One of these instances has been actor and politician Vinod Khanna who in 1982, walked away from the film industry to explore spirituality with Osho and shifted to Rajneeshpuram in the US at the pinnacle of his stardom. Vinod Khanna was known throughout the country as one of the most handsome men in the industry and by then had been quite successful as well. Today marks Vinod Khannas 3rd death anniversary and we take a look into his time at Oshos US Ashram.

Apparently Vinod Khanna wanted to explore his spiritual side and after moving to Rajneeshpuram spent most of his time cleaning dishes and working in the gardens there. In an old interview with TOI, he had said, I was Osho's mali: I am one of the few Indians to have stayed with Osho in Rajneeshpuram, the city he built in America. I spent four years with Osho. I was his gardener, I cleaned the toilets, I did the dishes, and his clothes were tried out on me because we were, physically, of the same stature.''

Before his spiritual break, Vinod Khanna had given a lot of hits including Amar Akbar Anthony, The Burning Train, Mere Apne. He made a return to the industry in 1987 and was welcomed with open arms and starred in a lot of hit movies like Satyamev Jayate, Hulchul, Dabangg.

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They say the best things in life are free! Indias favourite music channels 9XM, 9X Jalwa, 9X Jhakaas, 9X Tashan, 9XO are available Free-To-Air. Make a request for these channels from your Cable, DTH or HITS operator.

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Vinod Khannas 3rd Death Anniversary: The Actor Cleaned Toilets, Did Dishes At Oshos US Ashram After Walking Away From Films - SpotboyE