General Affairs
For VK Sasikala, Chief Minister To Be, Challenges Include Jayalalithaa's Niece Deepa Jayakumar- VK Sasikala, the longtime friend of J Jayalalithaa who emerged from the shadows after her death, is set to take over as the next Chief Minister of Tamil Nadu - a remarkable rise for a person who has never fought an election. Before her takeover, she faces a Supreme Court verdict next week in a corruption case. The court is likely to announce its decision on a petition challenging Ms Sasikala's acquittal in a disproportionate wealth case.
Ms Sasikala also faces potential trouble from Jayalalithaa's niece Deepa Jayakumar, who recently announced her political debut and claimed to be her aunt's natural successor with support not just within the ruling AIADMK but also among people. "There isn't anyone else and I have proof," the 42-year-old told NDTV last month.
That support is untested yet, even for Ms Sasikala.
This morning, the crowds and celebrations were starkly missing at Jayalalithaa's Poes Garden home, where Ms Sasikala continues to stay.
Outgoing Chief Minister O Panneerselvam or OPS, always the stand-in Chief Minister for Jayalalithaa, had signed his resignation letter long before the party chose Ms Sasikala.
The 61-year-old former video cassette seller, who has been seen in Jayalalithaa's signature green in recent photo-ops, faces more challenges as she prepares to rule one of India's most politically vital states.
Within six months as Chief Minister, she has to win an election and become a part of the state assembly.
On why Ms Sasikala waited all this time after Jayalalithaa's death on December 5 to step into her shoes, sources say "Chinamma" or "younger sister to Amma" - as she is known in the party - was in mourning.
Winning the perception battle is another test for Ms Sasikala, with a section of the party as well as the opposition DMK questioning her credentials as successor to Jayalalithaa - who rose to power after long years of struggle.
"The people of Tamil Nadu did not vote for anyone from Jayalalithaa's household to become CM," tweeted DMK's MK Stalin.
Ms Sasikala's supporters say despite her inexperience, she has managed to hold the grieving party together and stave off a power tussle between veterans.
VK Sasikala, the longtime friend of J Jayalalithaa who emerged from the shadows after her death, is set to take over as the next Chief Minister of Tamil Nadu - a remarkable rise for a person who has never fought an election. Before her takeover, she faces a Supreme Court verdict next week in a corruption case. The court is likely to announce its decision on a petition challenging Ms Sasikala's acquittal in a disproportionate wealth case.
Ms Sasikala also faces potential trouble from Jayalalithaa's niece Deepa Jayakumar, who recently announced her political debut and claimed to be her aunt's natural successor with support not just within the ruling AIADMK but also among people. "There isn't anyone else and I have proof," the 42-year-old told NDTV last month.
That support is untested yet, even for Ms Sasikala.
This morning, the crowds and celebrations were starkly missing at Jayalalithaa's Poes Garden home, where Ms Sasikala continues to stay.
Outgoing Chief Minister O Panneerselvam or OPS, always the stand-in Chief Minister for Jayalalithaa, had signed his resignation letter long before the party chose Ms Sasikala.
The 61-year-old former video cassette seller, who has been seen in Jayalalithaa's signature green in recent photo-ops, faces more challenges as she prepares to rule one of India's most politically vital states.
Within six months as Chief Minister, she has to win an election and become a part of the state assembly.
On why Ms Sasikala waited all this time after Jayalalithaa's death on December 5 to step into her shoes, sources say "Chinamma" or "younger sister to Amma" - as she is known in the party - was in mourning.
Winning the perception battle is another test for Ms Sasikala, with a section of the party as well as the opposition DMK questioning her credentials as successor to Jayalalithaa - who rose to power after long years of struggle.
"The people of Tamil Nadu did not vote for anyone from Jayalalithaa's household to become CM," tweeted DMK's MK Stalin.
Ms Sasikala's supporters say despite her inexperience, she has managed to hold the grieving party together and stave off a power tussle between veterans.
Ms Sasikala also faces potential trouble from Jayalalithaa's niece Deepa Jayakumar, who recently announced her political debut and claimed to be her aunt's natural successor with support not just within the ruling AIADMK but also among people. "There isn't anyone else and I have proof," the 42-year-old told NDTV last month.
That support is untested yet, even for Ms Sasikala.
This morning, the crowds and celebrations were starkly missing at Jayalalithaa's Poes Garden home, where Ms Sasikala continues to stay.
Outgoing Chief Minister O Panneerselvam or OPS, always the stand-in Chief Minister for Jayalalithaa, had signed his resignation letter long before the party chose Ms Sasikala.
The 61-year-old former video cassette seller, who has been seen in Jayalalithaa's signature green in recent photo-ops, faces more challenges as she prepares to rule one of India's most politically vital states.
Within six months as Chief Minister, she has to win an election and become a part of the state assembly.
On why Ms Sasikala waited all this time after Jayalalithaa's death on December 5 to step into her shoes, sources say "Chinamma" or "younger sister to Amma" - as she is known in the party - was in mourning.
Winning the perception battle is another test for Ms Sasikala, with a section of the party as well as the opposition DMK questioning her credentials as successor to Jayalalithaa - who rose to power after long years of struggle.
"The people of Tamil Nadu did not vote for anyone from Jayalalithaa's household to become CM," tweeted DMK's MK Stalin.
Ms Sasikala's supporters say despite her inexperience, she has managed to hold the grieving party together and stave off a power tussle between veterans.
Nitish Kumar Gilds The Lotus At Patna Book Fair, Triggers Speculation
- Bihar Chief Minister Nitish Kumar was seen on Sunday filling in the colours of a lotus at the Patna book fair. The lotus was drawn by Baoa Devi, an acclaimed artist of the Mithila style of painting who was awarded with Padma Shree this year. But the flower also happens to be the poll symbol of the BJP, a badge of which was worn famously by Narendra Modi during the general elections of 2014. It has triggered fresh speculations about the growing bonhomie between his Janata Dal and erstwhile ally BJP, who had parted bitterly ahead of the 2014 elections. Mr Kumar is yet to comment on the matter.
Over the last few months, Mr Kumar, a staunch critic of the Prime Minister, has been seen as siding with him on several issues. The most prominent of these was the demonetisation, which had been thought to have driven a wedge between his ruling allies -- the Congress and Lalu Prasad's Rashtriya Janata Dal.
PM Modi too, had praised the Chief Minister's efforts on prohibition during his visit to Bihar.
But on Wednesday, hours after the Union budget was presented, Mr Kumar did an unexpected U-turn, taking on the Centre in harsh terms over the notes ban.
"Those of us who supported demonetisation wish to know how much black money and fake currencies fell in the net during the 50-day drive," the JD(U) leader had said. Regarding digital transactions, he said while the government chanted "lofty slogans" about it, it made no move to strengthen infrastructure for it, like "increasing the number of bank branches at the grassroot-level".
Bihar Chief Minister Nitish Kumar was seen on Sunday filling in the colours of a lotus at the Patna book fair. The lotus was drawn by Baoa Devi, an acclaimed artist of the Mithila style of painting who was awarded with Padma Shree this year. But the flower also happens to be the poll symbol of the BJP, a badge of which was worn famously by Narendra Modi during the general elections of 2014. It has triggered fresh speculations about the growing bonhomie between his Janata Dal and erstwhile ally BJP, who had parted bitterly ahead of the 2014 elections. Mr Kumar is yet to comment on the matter.
Over the last few months, Mr Kumar, a staunch critic of the Prime Minister, has been seen as siding with him on several issues. The most prominent of these was the demonetisation, which had been thought to have driven a wedge between his ruling allies -- the Congress and Lalu Prasad's Rashtriya Janata Dal.
PM Modi too, had praised the Chief Minister's efforts on prohibition during his visit to Bihar.
But on Wednesday, hours after the Union budget was presented, Mr Kumar did an unexpected U-turn, taking on the Centre in harsh terms over the notes ban.
"Those of us who supported demonetisation wish to know how much black money and fake currencies fell in the net during the 50-day drive," the JD(U) leader had said. Regarding digital transactions, he said while the government chanted "lofty slogans" about it, it made no move to strengthen infrastructure for it, like "increasing the number of bank branches at the grassroot-level".
Over the last few months, Mr Kumar, a staunch critic of the Prime Minister, has been seen as siding with him on several issues. The most prominent of these was the demonetisation, which had been thought to have driven a wedge between his ruling allies -- the Congress and Lalu Prasad's Rashtriya Janata Dal.
PM Modi too, had praised the Chief Minister's efforts on prohibition during his visit to Bihar.
But on Wednesday, hours after the Union budget was presented, Mr Kumar did an unexpected U-turn, taking on the Centre in harsh terms over the notes ban.
"Those of us who supported demonetisation wish to know how much black money and fake currencies fell in the net during the 50-day drive," the JD(U) leader had said. Regarding digital transactions, he said while the government chanted "lofty slogans" about it, it made no move to strengthen infrastructure for it, like "increasing the number of bank branches at the grassroot-level".
In Battle Against Cancer, Jammu And Kashmir Losing Out- More than 18,000 cancer cases were reported in last three years in Jammu and Kashmir, as compared to 10,000 in the three years before that, say official figures.
Cancer patients who have lived on for 10 years after detection of the deadly disease, were felicitated at the Oncology department of Government Medical College in Jammu.
One of the brave survivors, 70-year-old Mohammad Hussain from Rajouri district in Jammu and Kashmir, is suffering from lung cancer and has spent 5 years shuttling between hospitals in Jammu. He has pulled through tough times despite financial constraints since his diagnosis.
"I need constant check-ups, but I should get free medicine as I am a poor man", said Mohammad Hussain.
At present, the state does not have advanced radiotherapy facilities like 'radiation linear accelerator' or latest machines like a PET scan for detecting the origin and spread of cancer.
"Number of cancer patients have almost tripled over the years, this of course is based on our hospital logs of patients reporting to us. But there are many more in the periphery who might not be able to reach us even", said Dr Ashutosh Gupta, Head of Department - Oncology, GMC Jammu
The government seems to have just recently taken note of this situation.
"We now have a PET scan sanctioned for the Sher-I-Kashmir Institute of Medical Sciences (SKIIMS), I think there is a need for developing some infrastructure in SKIIMS, the process has already started, a team from government of India has given its clearance", says Bali Bhagat, Minister of Health and Medical Education, Jammu and Kashmir.
World Health Organisation (WHO) has predicted that by year 2020 number of cancer cases will increase to 15 million, of which 10 million will be in the developing world.
More than 18,000 cancer cases were reported in last three years in Jammu and Kashmir, as compared to 10,000 in the three years before that, say official figures.
Cancer patients who have lived on for 10 years after detection of the deadly disease, were felicitated at the Oncology department of Government Medical College in Jammu.
One of the brave survivors, 70-year-old Mohammad Hussain from Rajouri district in Jammu and Kashmir, is suffering from lung cancer and has spent 5 years shuttling between hospitals in Jammu. He has pulled through tough times despite financial constraints since his diagnosis.
"I need constant check-ups, but I should get free medicine as I am a poor man", said Mohammad Hussain.
At present, the state does not have advanced radiotherapy facilities like 'radiation linear accelerator' or latest machines like a PET scan for detecting the origin and spread of cancer.
"Number of cancer patients have almost tripled over the years, this of course is based on our hospital logs of patients reporting to us. But there are many more in the periphery who might not be able to reach us even", said Dr Ashutosh Gupta, Head of Department - Oncology, GMC Jammu
The government seems to have just recently taken note of this situation.
"We now have a PET scan sanctioned for the Sher-I-Kashmir Institute of Medical Sciences (SKIIMS), I think there is a need for developing some infrastructure in SKIIMS, the process has already started, a team from government of India has given its clearance", says Bali Bhagat, Minister of Health and Medical Education, Jammu and Kashmir.
World Health Organisation (WHO) has predicted that by year 2020 number of cancer cases will increase to 15 million, of which 10 million will be in the developing world.
Cancer patients who have lived on for 10 years after detection of the deadly disease, were felicitated at the Oncology department of Government Medical College in Jammu.
One of the brave survivors, 70-year-old Mohammad Hussain from Rajouri district in Jammu and Kashmir, is suffering from lung cancer and has spent 5 years shuttling between hospitals in Jammu. He has pulled through tough times despite financial constraints since his diagnosis.
"I need constant check-ups, but I should get free medicine as I am a poor man", said Mohammad Hussain.
At present, the state does not have advanced radiotherapy facilities like 'radiation linear accelerator' or latest machines like a PET scan for detecting the origin and spread of cancer.
"Number of cancer patients have almost tripled over the years, this of course is based on our hospital logs of patients reporting to us. But there are many more in the periphery who might not be able to reach us even", said Dr Ashutosh Gupta, Head of Department - Oncology, GMC Jammu
The government seems to have just recently taken note of this situation.
"We now have a PET scan sanctioned for the Sher-I-Kashmir Institute of Medical Sciences (SKIIMS), I think there is a need for developing some infrastructure in SKIIMS, the process has already started, a team from government of India has given its clearance", says Bali Bhagat, Minister of Health and Medical Education, Jammu and Kashmir.
World Health Organisation (WHO) has predicted that by year 2020 number of cancer cases will increase to 15 million, of which 10 million will be in the developing world.
Air Force Declines RTI Seeking Details Of Rafale Deal, Says It's Confidential
- Details of the agreement signed between Indian and French authorities regarding the supply of 36 Rafale aircraft cannot be disclosed as they are confidential in nature, the Air Force has said.
An Inter-Governmental Agreement was signed between the governments of India and France on September 23, 2016 for supply of the Rafale aircraft, initial consignment of weapons, long-term maintenance support through performance-based logistics, simulators with annual maintenance and associated equipment.
Replying to an RTI query, the Air Force said the details are held by it "in fiduciary capacity."
The information sought is confidential in nature and public revelation of the same may lead to its subsequent availability to our adversaries, it said.
"Further, the information sought is also held in fiduciary capacity and no larger public interest is served by disclosure of such information. Hence, the same is denied," the Air Force said in reply to the application filed by PTI.
The Defence Ministry was asked to provide copies of the agreement and price of the Rafale deal. The query was then forwarded to the Air Force for providing the reply.
The delivery of 36 Rafale aircraft, weapons and associated equipment to India will commence from September 2019. The deliveries are spread over two and half years, with the last aircraft delivery scheduled in April 2022.
Details of the agreement signed between Indian and French authorities regarding the supply of 36 Rafale aircraft cannot be disclosed as they are confidential in nature, the Air Force has said.
An Inter-Governmental Agreement was signed between the governments of India and France on September 23, 2016 for supply of the Rafale aircraft, initial consignment of weapons, long-term maintenance support through performance-based logistics, simulators with annual maintenance and associated equipment.
Replying to an RTI query, the Air Force said the details are held by it "in fiduciary capacity."
The information sought is confidential in nature and public revelation of the same may lead to its subsequent availability to our adversaries, it said.
"Further, the information sought is also held in fiduciary capacity and no larger public interest is served by disclosure of such information. Hence, the same is denied," the Air Force said in reply to the application filed by PTI.
The Defence Ministry was asked to provide copies of the agreement and price of the Rafale deal. The query was then forwarded to the Air Force for providing the reply.
The delivery of 36 Rafale aircraft, weapons and associated equipment to India will commence from September 2019. The deliveries are spread over two and half years, with the last aircraft delivery scheduled in April 2022.
An Inter-Governmental Agreement was signed between the governments of India and France on September 23, 2016 for supply of the Rafale aircraft, initial consignment of weapons, long-term maintenance support through performance-based logistics, simulators with annual maintenance and associated equipment.
Replying to an RTI query, the Air Force said the details are held by it "in fiduciary capacity."
The information sought is confidential in nature and public revelation of the same may lead to its subsequent availability to our adversaries, it said.
"Further, the information sought is also held in fiduciary capacity and no larger public interest is served by disclosure of such information. Hence, the same is denied," the Air Force said in reply to the application filed by PTI.
The Defence Ministry was asked to provide copies of the agreement and price of the Rafale deal. The query was then forwarded to the Air Force for providing the reply.
The delivery of 36 Rafale aircraft, weapons and associated equipment to India will commence from September 2019. The deliveries are spread over two and half years, with the last aircraft delivery scheduled in April 2022.
Apple, Google, Facebook Go To Court To Fight Donald Trump's Immigration Ban
- Several technology giants, including Apple, Google and Microsoft, banded together on Sunday to file a legal brief opposing President Donald Trump's temporary immigration ban, arguing that it "inflicts significant harm on American business."
The brief, filed in the U.S. Court of Appeals for the 9th Circuit, included other top tech firms including Facebook, Twitter and Intel, as well as non-tech companies such as Levi Strauss and Chobani. In all nearly 100 firms, including eBay, Netflix and Uber signed onto the brief.
Trump's temporary immigration ban, the most contentious policy move of his first two weeks in offices, faces crucial legal hurdles.
His administration has a deadline on Monday to justify the executive order temporarily barring immigrants from seven mostly Muslim countries and the entry of refugees, after a federal judge in Seattle blocked it with a temporary restraining order on Friday.
"The Order represents a significant departure from the principles of fairness and predictability that have governed the immigration system of the United States for more than fifty years," the brief stated.
"The Order inflicts significant harm on American business, innovation, and growth as a result," it added.
"Immigrants or their children founded more than 200 of the companies on the Fortune 500 list."
U.S. tech firms have been among the more vocal sectors speaking out against the policy, with many of its staff made up of foreign-born nationals.
The 9th U.S. Circuit Court of Appeals in San Francisco over the weekend denied the Trump administration's request for an immediate stay of the federal judge's temporary restraining order that blocked nationwide the implementation of key parts of the travel ban.
But the court said it would reconsider the government's request after receiving more information.
Several technology giants, including Apple, Google and Microsoft, banded together on Sunday to file a legal brief opposing President Donald Trump's temporary immigration ban, arguing that it "inflicts significant harm on American business."
The brief, filed in the U.S. Court of Appeals for the 9th Circuit, included other top tech firms including Facebook, Twitter and Intel, as well as non-tech companies such as Levi Strauss and Chobani. In all nearly 100 firms, including eBay, Netflix and Uber signed onto the brief.
Trump's temporary immigration ban, the most contentious policy move of his first two weeks in offices, faces crucial legal hurdles.
His administration has a deadline on Monday to justify the executive order temporarily barring immigrants from seven mostly Muslim countries and the entry of refugees, after a federal judge in Seattle blocked it with a temporary restraining order on Friday.
"The Order represents a significant departure from the principles of fairness and predictability that have governed the immigration system of the United States for more than fifty years," the brief stated.
"The Order inflicts significant harm on American business, innovation, and growth as a result," it added.
"Immigrants or their children founded more than 200 of the companies on the Fortune 500 list."
U.S. tech firms have been among the more vocal sectors speaking out against the policy, with many of its staff made up of foreign-born nationals.
The 9th U.S. Circuit Court of Appeals in San Francisco over the weekend denied the Trump administration's request for an immediate stay of the federal judge's temporary restraining order that blocked nationwide the implementation of key parts of the travel ban.
But the court said it would reconsider the government's request after receiving more information.
The brief, filed in the U.S. Court of Appeals for the 9th Circuit, included other top tech firms including Facebook, Twitter and Intel, as well as non-tech companies such as Levi Strauss and Chobani. In all nearly 100 firms, including eBay, Netflix and Uber signed onto the brief.
Trump's temporary immigration ban, the most contentious policy move of his first two weeks in offices, faces crucial legal hurdles.
His administration has a deadline on Monday to justify the executive order temporarily barring immigrants from seven mostly Muslim countries and the entry of refugees, after a federal judge in Seattle blocked it with a temporary restraining order on Friday.
"The Order represents a significant departure from the principles of fairness and predictability that have governed the immigration system of the United States for more than fifty years," the brief stated.
"The Order inflicts significant harm on American business, innovation, and growth as a result," it added.
"Immigrants or their children founded more than 200 of the companies on the Fortune 500 list."
U.S. tech firms have been among the more vocal sectors speaking out against the policy, with many of its staff made up of foreign-born nationals.
The 9th U.S. Circuit Court of Appeals in San Francisco over the weekend denied the Trump administration's request for an immediate stay of the federal judge's temporary restraining order that blocked nationwide the implementation of key parts of the travel ban.
But the court said it would reconsider the government's request after receiving more information.
Business Affairs
Sensex hits 4-month high on rate-cut hopes- The market rose for a fourth straight session on Monday to a four-month high as investors bet the central bank would ease interest rates this week to help revive demand after Prime Minister Narendra Modi's currency crackdown last year.The Reserve Bank of India is expected to cut interest rates by 25 basis points at its policy review on Wednesday, a Reuters poll showed, after consumer inflation hit a two-year low in December, giving the central bank room to ease.The positive sentiment lifted midcaps such as Adani Enterprises, Wockhardt and Godrej Industries, sending the NSE midcap 100 index higher by 1 percent to a record high.Still, some analysts say shares could ease as the NSE index approaches the 9,000 level after recent gains."Markets are in a bullish mood because of rate-cut expectations," said RK Gupta, managing director at Taurus Asset Management Company."However, irrespective of what the RBI does, I expect the market to correct itself with the upside being 9,000 points."The broader Nifty was up 0.7 percent at 8,802.30 as of 0555 GMT after earlier hitting its highest since September 26, 2016.The benchmark Sensex was 0.8 percent higher at 28,465.38 after earlier hitting its highest since October 5, 2016.Banking stocks were among the top gainers with ICICI Bank and Bank of Baroda rising as much as 1.94 percent and 2.82 percent, respectively.Among the losers, Dr. Reddy's Laboratories Ltd fell as much as 3.14 percent after the company reported a 16 percent drop in its consolidated net profit for the December quarter.
The market rose for a fourth straight session on Monday to a four-month high as investors bet the central bank would ease interest rates this week to help revive demand after Prime Minister Narendra Modi's currency crackdown last year.
The Reserve Bank of India is expected to cut interest rates by 25 basis points at its policy review on Wednesday, a Reuters poll showed, after consumer inflation hit a two-year low in December, giving the central bank room to ease.
The positive sentiment lifted midcaps such as Adani Enterprises, Wockhardt and Godrej Industries, sending the NSE midcap 100 index higher by 1 percent to a record high.
Still, some analysts say shares could ease as the NSE index approaches the 9,000 level after recent gains.
"Markets are in a bullish mood because of rate-cut expectations," said RK Gupta, managing director at Taurus Asset Management Company.
"However, irrespective of what the RBI does, I expect the market to correct itself with the upside being 9,000 points."
The broader Nifty was up 0.7 percent at 8,802.30 as of 0555 GMT after earlier hitting its highest since September 26, 2016.
The benchmark Sensex was 0.8 percent higher at 28,465.38 after earlier hitting its highest since October 5, 2016.
Banking stocks were among the top gainers with ICICI Bank and Bank of Baroda rising as much as 1.94 percent and 2.82 percent, respectively.
Among the losers, Dr. Reddy's Laboratories Ltd fell as much as 3.14 percent after the company reported a 16 percent drop in its consolidated net profit for the December quarter.
Supreme Court orders seizure of Sahara's Aamby Valley property- Supreme Court on Monday ordered the seizure of the Aamby Valley hill city estate owned by the embattled Sahara conglomerate which has been ordered to repay billions of dollars to investors in bonds that were ruled to have been mis-sold.Lawyers for Sahara told the Supreme Court that they had deposited about Rs 110 billion ($1.6 billion) with the capital markets regulator for the repayment, and owed another Rs 140 billion .The Aamby Valley development in western India is spread over more than 10,000 acres and includes luxury resort accommodation and an 18-hole golf course.The court, which will hear the case next on Feb. 27, also asked Sahara to give it a list of properties that are free from litigation and unmortgaged and could be put up for sale by auction.In the long-running dispute, Sahara, a former main sponsor of India's national cricket team, had been ordered to deposit the funds as part of a court order that it refund the sum with interest raised from millions of small investors in a bond selling scheme which was later deemed to be illegal by the market regulator.Sahara's chairman and founder Subrata Roy has been on "parole" since May last year after spending more than two years in jail, having been arrested for failing to attend a contempt of court hearing. He has yet to be formally charged over the bonds scheme and has denied any wrongdoing.
Supreme Court on Monday ordered the seizure of the Aamby Valley hill city estate owned by the embattled Sahara conglomerate which has been ordered to repay billions of dollars to investors in bonds that were ruled to have been mis-sold.
Lawyers for Sahara told the Supreme Court that they had deposited about Rs 110 billion ($1.6 billion) with the capital markets regulator for the repayment, and owed another Rs 140 billion .
The Aamby Valley development in western India is spread over more than 10,000 acres and includes luxury resort accommodation and an 18-hole golf course.
The court, which will hear the case next on Feb. 27, also asked Sahara to give it a list of properties that are free from litigation and unmortgaged and could be put up for sale by auction.
In the long-running dispute, Sahara, a former main sponsor of India's national cricket team, had been ordered to deposit the funds as part of a court order that it refund the sum with interest raised from millions of small investors in a bond selling scheme which was later deemed to be illegal by the market regulator.
Sahara's chairman and founder Subrata Roy has been on "parole" since May last year after spending more than two years in jail, having been arrested for failing to attend a contempt of court hearing. He has yet to be formally charged over the bonds scheme and has denied any wrongdoing.
Tata Sons shareholders remove Cyrus Mistry as director- The shareholders of Tata Sons Limited on Monday passed a resolution to remove Cyrus P. Mistry as a Director of Tata Sons Limited.The resolution was passed with the requisite majority at the extraordinary general meeting of the Tata Sons.Earlier, Cyrus Mistry had challenged the legitamacy of Natarajan Chandrasekaran's appointment as his successor. A furious Mistry had reportedly sent a letter to his fellow board members questioning the decision.Tata Sons had abruptly removed Mistry as its Chairman on October 24 and sought his ouster from operating companies like Tata Motors and TCS. Mistry subsequently resigned from the board of six companies, but dragged Tata Sons and his interim successor Ratan Tata to the National Company Law Tribunal.After the board meeting of October 24, 2016, Tata Sons had resolved that Mistry shall, notwithstanding his ceasing to be the Chairman, continue as a director of the company."Subsequent to his replacement, Mistry has made certain unsubstantiated allegations, which cast aspersions not only on Tata Sons Limited and its board of directors, but also on the Tata group as a whole. Internal communications, including confidential, were made public. Mistry's conduct has caused enormous harm to the Tata group and its stakeholders, including employees and shareholders," Tata Sons had said in a note for extraordinary general meeting (EGM).The ousted chairman's conduct, it said, "resulted in significant erosion of the market value of the Tata group companies, which has consequently resulted in harm to Tata Sons Limited and indirectly losses to its shareholders".The notice had said continuation of Mistry as a Director of Tata Sons is "untenable" and therefore, he should be removed.
The shareholders of Tata Sons Limited on Monday passed a resolution to remove Cyrus P. Mistry as a Director of Tata Sons Limited.
The resolution was passed with the requisite majority at the extraordinary general meeting of the Tata Sons.
Earlier, Cyrus Mistry had challenged the legitamacy of Natarajan Chandrasekaran's appointment as his successor. A furious Mistry had reportedly sent a letter to his fellow board members questioning the decision.
Tata Sons had abruptly removed Mistry as its Chairman on October 24 and sought his ouster from operating companies like Tata Motors and TCS. Mistry subsequently resigned from the board of six companies, but dragged Tata Sons and his interim successor Ratan Tata to the National Company Law Tribunal.
After the board meeting of October 24, 2016, Tata Sons had resolved that Mistry shall, notwithstanding his ceasing to be the Chairman, continue as a director of the company.
"Subsequent to his replacement, Mistry has made certain unsubstantiated allegations, which cast aspersions not only on Tata Sons Limited and its board of directors, but also on the Tata group as a whole. Internal communications, including confidential, were made public. Mistry's conduct has caused enormous harm to the Tata group and its stakeholders, including employees and shareholders," Tata Sons had said in a note for extraordinary general meeting (EGM).
The ousted chairman's conduct, it said, "resulted in significant erosion of the market value of the Tata group companies, which has consequently resulted in harm to Tata Sons Limited and indirectly losses to its shareholders".
The notice had said continuation of Mistry as a Director of Tata Sons is "untenable" and therefore, he should be removed.
India's imports from China decline 2.3 per cent- The country's total imports from China stood at $45,629.11 million between April-December 2016, Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce & Industry, stated in her Lok Sabha reply. It declined 2.3 per cent from the corresponding period previous year. Total imports from China grew around 2 per cent to $ 46,699.27 million during Apr-Dec 2015 from $ 46,015.02 million in Apr-Dec 2014.The country's total imports stood at $ 2,08,230.65 million during April-Oct 2016 period, sliding around 11 per cent over the corresponding period in the previous year, as per the latest data available with the ministry.China contributes close to 17 per cent of India's total imports. The top ten imported items from China include bulk drugs, computer hardware, consumer electronics, electric machinery and equipment, electronics components, fertilisers manufactured, industrial machinery for dairy, iron & steel and organic chemicals. The share of top ten imported items from China stood at around 56 per cent of total imports during Apr-Dec 2016.Import of milk and milk products (including chocolates and chocolate products and candies/ confectionary/ food preparations with milk or milk solids as an ingredient) from China is prohibited till 23.6.2017 or until further orders, whichever is earlier. Besides, import of fireworks is restricted and for last three years no license or authorisation has been issued by the Directorate General of Foreign Trade.Government has also imposed prohibition on the import of mobile handsets without International Mobile Equipment Identity (IMEI) number or with all zeroes IMEI and import of CDMA mobile phones without Electronic Serial Numbers (ESN), Mobile Equipment Identifier (MEID) or all zeroes ESN/MEID.
The country's total imports from China stood at $45,629.11 million between April-December 2016, Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce & Industry, stated in her Lok Sabha reply. It declined 2.3 per cent from the corresponding period previous year. Total imports from China grew around 2 per cent to $ 46,699.27 million during Apr-Dec 2015 from $ 46,015.02 million in Apr-Dec 2014.
The country's total imports stood at $ 2,08,230.65 million during April-Oct 2016 period, sliding around 11 per cent over the corresponding period in the previous year, as per the latest data available with the ministry.
China contributes close to 17 per cent of India's total imports. The top ten imported items from China include bulk drugs, computer hardware, consumer electronics, electric machinery and equipment, electronics components, fertilisers manufactured, industrial machinery for dairy, iron & steel and organic chemicals. The share of top ten imported items from China stood at around 56 per cent of total imports during Apr-Dec 2016.
Import of milk and milk products (including chocolates and chocolate products and candies/ confectionary/ food preparations with milk or milk solids as an ingredient) from China is prohibited till 23.6.2017 or until further orders, whichever is earlier. Besides, import of fireworks is restricted and for last three years no license or authorisation has been issued by the Directorate General of Foreign Trade.
Government has also imposed prohibition on the import of mobile handsets without International Mobile Equipment Identity (IMEI) number or with all zeroes IMEI and import of CDMA mobile phones without Electronic Serial Numbers (ESN), Mobile Equipment Identifier (MEID) or all zeroes ESN/MEID.
Finance ministry warns employees of action for critising govt policies- The Finance Ministry has warned employees of disciplinary action if they criticise the government or its policies.The directive assumes significance as associations representing employees of Central Board of Excise and Customs (CBEC) are protesting against certain decisions taken by the GST Council led by Finance Minister Arun Jaitley on Goods and Services Tax."Instructions have been issued in the past wherein it has been impressed upon all concerned to refrain from commenting adversely on the government and its policies," the Ministry said in a recent order.It said failing to comply with its instructions "may lead to appropriate action (including disciplinary action)".The instructions cite service rules that bar any government servant from making any adverse criticism of any policy or action of the government."No government servant shall, in any radio broadcast, telecast through any electronic media or in any document published in his own name or anonymously, pseudonymously or in the name of any other person or in any communication to the press or in any public utterance, make any statement of fact or opinion which has the effect of an adverse criticism of any current or recent policy or action of the central government or state government," reads the service rules.Certain members of Indian Revenue Service (Customs and Central Excise), All India Association of Central Excise Gazetted Executive Officers, All India Central Excise Inspectors' Association and All India Central Excise and Service Tax Ministerial Officers Association had recently participated in a symbolic protest to oppose some decisions taken by the GST Council.When contacted President of IRS (Customs and Central Excise) officers association, Anup Srivastava, said their members are not adversely commenting on the State's policies by any way."We are not commenting adversely on State policies. We fully agree with this (recent directive) letter. Government should be supported for all the rightful causes in the interest of the nation. The officers of CBEC have been working tirelessly for last ten years on GST. Therefore, the concern of the services need to be addressed for smooth and successful implementation of the GST," he said.Srivastava said "it has already been pointed out earlier by us that out of 150 countries, GST has failed in more than 100 countries"."We do not want any glitches in the successfully roll out of GST. Therefore, it is our duty as Constitutionally-bound officers of Government of India to bring to the notice of the decision makers the probable glitches. It is upto decision makers to take a final call," he said.The employees associations are opposing the Council's decisions of giving states the powers to levy tax on economic activity within 12 nautical miles of territorial waters and to administer 90 per cent of the tax payers under Rs 1.5 crore annual turnover besides certain provisions of Integrated GST.
The Finance Ministry has warned employees of disciplinary action if they criticise the government or its policies.
The directive assumes significance as associations representing employees of Central Board of Excise and Customs (CBEC) are protesting against certain decisions taken by the GST Council led by Finance Minister Arun Jaitley on Goods and Services Tax.
"Instructions have been issued in the past wherein it has been impressed upon all concerned to refrain from commenting adversely on the government and its policies," the Ministry said in a recent order.
It said failing to comply with its instructions "may lead to appropriate action (including disciplinary action)".
The instructions cite service rules that bar any government servant from making any adverse criticism of any policy or action of the government.
"No government servant shall, in any radio broadcast, telecast through any electronic media or in any document published in his own name or anonymously, pseudonymously or in the name of any other person or in any communication to the press or in any public utterance, make any statement of fact or opinion which has the effect of an adverse criticism of any current or recent policy or action of the central government or state government," reads the service rules.
Certain members of Indian Revenue Service (Customs and Central Excise), All India Association of Central Excise Gazetted Executive Officers, All India Central Excise Inspectors' Association and All India Central Excise and Service Tax Ministerial Officers Association had recently participated in a symbolic protest to oppose some decisions taken by the GST Council.
When contacted President of IRS (Customs and Central Excise) officers association, Anup Srivastava, said their members are not adversely commenting on the State's policies by any way.
"We are not commenting adversely on State policies. We fully agree with this (recent directive) letter. Government should be supported for all the rightful causes in the interest of the nation. The officers of CBEC have been working tirelessly for last ten years on GST. Therefore, the concern of the services need to be addressed for smooth and successful implementation of the GST," he said.
Srivastava said "it has already been pointed out earlier by us that out of 150 countries, GST has failed in more than 100 countries".
"We do not want any glitches in the successfully roll out of GST. Therefore, it is our duty as Constitutionally-bound officers of Government of India to bring to the notice of the decision makers the probable glitches. It is upto decision makers to take a final call," he said.
The employees associations are opposing the Council's decisions of giving states the powers to levy tax on economic activity within 12 nautical miles of territorial waters and to administer 90 per cent of the tax payers under Rs 1.5 crore annual turnover besides certain provisions of Integrated GST.
General Awareness
List of Finance and Prime Ministers of India
- Dear Readers,we have compiled the List of Finance and Prime Ministers of India. We hope, it will help you in Competitive exams.
Prime Minister Finance Minister Term of office Political party
(Alliance)
Jawaharlal Nehru
(Vice President of the interim govt) Liaquat Ali Khan 29 October 1946 14 August 1947 All-India Muslim League
Jawaharlal Nehru R. K. Shanmukham Chetty 15 August 1947 1949 Indian National Congress
John Mathai 1949 1950
C. D. Deshmukh 29 May 1950 1957
T. T. Krishnamachari 1957 13 February 1958
Jawaharlal Nehru 13 February 1958 13 March 1958
Morarji Desai 13 March 1958 29 August 1963
Jawaharlal Nehru,Lal Bahadur Shastri T. T. Krishnamachari 29 August 1963 1965
Lal Bahadur Shastri,Indira Gandhi Sachindra Chaudhuri 1965 13 March 1967
Indira Gandhi Morarji Desai 13 March 1967 16 July 1969
Indira Gandhi 1970 1971
Yashwantrao Chavan 1971 1975
Chidambaram Subramaniam 1975 1977
Morarji Desai Haribhai M. Patel 24 March 1977 24 January 1979 Janata Party
Charan Singh 24 January 1979 28 July 1979
Charan Singh Hemvati Nandan Bahuguna 28 July 1979 14 January 1980 Janata Party (Secular)
Indira Gandhi R. Venkataraman 14 January 1980 15 January 1982
Indian National Congress
Pranab Mukherjee 15 January 1982 31 December 1984
Rajiv Gandhi V. P. Singh 31 December 1984 24 January 1987
Rajiv Gandhi 24 January 1987 25 July 1987
N. D. Tiwari 25 July 1987 25 June 1988
Shankarrao Chavan 25 June 1988 2 December 1989
V. P. Singh Madhu Dandavate 2 December 1989 10 November 1990 Janata Dal
(National Front)
Chandra Shekhar Yashwant Sinha 10 November 1990 21 June 1991 Samajwadi Janata Party
(National Front)
P. V. Narasimha Rao Manmohan Singh 21 June 1991 16 May 1996 Indian National Congress
Atal Bihari Vajpayee Jaswant Singh 16 May 1996 1 June 1996 Bharatiya Janata Party
H. D. Deve Gowda P. Chidambaram 1 June 1996 21 April 1997 Tamil Maanila Congress
(United Front)
I. K. Gujral I. K. Gujral 21 April 1997 1 May 1997 Janata Dal
(United Front)
P. Chidambaram 1 May 1997 19 March 1998 Tamil Maanila Congress
(United Front)
Atal Bihari Vajpayee Yashwant Sinha 19 March 1998 1 July 2002 Bharatiya Janata Party(National Democratic Alliance)
Jaswant Singh 1 July 2002 22 May 2004
Manmohan Singh P. Chidambaram 22 May 2004 30 November 2008 Indian National Congress
(United Progressive Alliance)
Manmohan Singh 30 November 2008 24 January 2009
Pranab Mukherjee 24 January 2009 26 June 2012
Manmohan Singh 26 June 2012 31 July 2012
P. Chidambaram 31 July 2012 26 May 2014
Narendra Modi Arun Jaitley 26 May 2014 Incumbent Bharatiya Janata Party
(National Democratic Alliance)
Dear Readers,we have compiled the List of Finance and Prime Ministers of India. We hope, it will help you in Competitive exams.
Prime Minister | Finance Minister | Term of office | Political party (Alliance) | |
Jawaharlal Nehru (Vice President of the interim govt) | Liaquat Ali Khan | 29 October 1946 | 14 August 1947 | All-India Muslim League |
Jawaharlal Nehru | R. K. Shanmukham Chetty | 15 August 1947 | 1949 | Indian National Congress |
John Mathai | 1949 | 1950 | ||
C. D. Deshmukh | 29 May 1950 | 1957 | ||
T. T. Krishnamachari | 1957 | 13 February 1958 | ||
Jawaharlal Nehru | 13 February 1958 | 13 March 1958 | ||
Morarji Desai | 13 March 1958 | 29 August 1963 | ||
Jawaharlal Nehru,Lal Bahadur Shastri | T. T. Krishnamachari | 29 August 1963 | 1965 | |
Lal Bahadur Shastri,Indira Gandhi | Sachindra Chaudhuri | 1965 | 13 March 1967 | |
Indira Gandhi | Morarji Desai | 13 March 1967 | 16 July 1969 | |
Indira Gandhi | 1970 | 1971 | ||
Yashwantrao Chavan | 1971 | 1975 | ||
Chidambaram Subramaniam | 1975 | 1977 | ||
Morarji Desai | Haribhai M. Patel | 24 March 1977 | 24 January 1979 | Janata Party |
Charan Singh | 24 January 1979 | 28 July 1979 | ||
Charan Singh | Hemvati Nandan Bahuguna | 28 July 1979 | 14 January 1980 | Janata Party (Secular) |
Indira Gandhi | R. Venkataraman | 14 January 1980 | 15 January 1982 | Indian National Congress |
Pranab Mukherjee | 15 January 1982 | 31 December 1984 | ||
Rajiv Gandhi | V. P. Singh | 31 December 1984 | 24 January 1987 | |
Rajiv Gandhi | 24 January 1987 | 25 July 1987 | ||
N. D. Tiwari | 25 July 1987 | 25 June 1988 | ||
Shankarrao Chavan | 25 June 1988 | 2 December 1989 | ||
V. P. Singh | Madhu Dandavate | 2 December 1989 | 10 November 1990 | Janata Dal (National Front) |
Chandra Shekhar | Yashwant Sinha | 10 November 1990 | 21 June 1991 | Samajwadi Janata Party (National Front) |
P. V. Narasimha Rao | Manmohan Singh | 21 June 1991 | 16 May 1996 | Indian National Congress |
Atal Bihari Vajpayee | Jaswant Singh | 16 May 1996 | 1 June 1996 | Bharatiya Janata Party |
H. D. Deve Gowda | P. Chidambaram | 1 June 1996 | 21 April 1997 | Tamil Maanila Congress (United Front) |
I. K. Gujral | I. K. Gujral | 21 April 1997 | 1 May 1997 | Janata Dal (United Front) |
P. Chidambaram | 1 May 1997 | 19 March 1998 | Tamil Maanila Congress (United Front) | |
Atal Bihari Vajpayee | Yashwant Sinha | 19 March 1998 | 1 July 2002 | Bharatiya Janata Party (National Democratic Alliance) |
Jaswant Singh | 1 July 2002 | 22 May 2004 | ||
Manmohan Singh | P. Chidambaram | 22 May 2004 | 30 November 2008 | Indian National Congress (United Progressive Alliance) |
Manmohan Singh | 30 November 2008 | 24 January 2009 | ||
Pranab Mukherjee | 24 January 2009 | 26 June 2012 | ||
Manmohan Singh | 26 June 2012 | 31 July 2012 | ||
P. Chidambaram | 31 July 2012 | 26 May 2014 | ||
Narendra Modi | Arun Jaitley | 26 May 2014 | Incumbent | Bharatiya Janata Party (National Democratic Alliance) |
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