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Mend the urban & rural divide: Anil Jain

Experts from various industries asserted the necessity to take steps towards bridging the gap between the urban and the rural through digital mediums during the Zee Rising New India Conclave. Anil Jain, chief general manager, BSNL, informed that about 4,84,000 villages are connected through mobile services across India.“There is a need to connect the rural and urban areas through voice and data. Introducing data facilities will open the residents of rural areas to the world. They will be able to move forward towards innovation with technology. Proper connectivity will allow the overall development,” Jain said.Adding to the discussion, BB Dave, chief postmaster general, Indian Postal Services said that Digital India is incomplete without financial inclusion.“Several financial institutions are not as easily available in rural areas as in urban. The reach of the Indian Postal Services is unparalleled. Financial institutions need to be strengthened. Government has already started bank reforms as a step towards the same,” Dave said.However, education and healthcare as the most neglected areas for development and need utmost attention, said Rahul Kashyap, country manager, communications, Smile Foundation.Edu in shambles“The current status of education in our country is in shambles. Gap in education system should be bridged. Why should children in 70% of India not be given an opportunity to compete with the rest 30%,” Kashyap said.

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Slugfest begins as Max Hospital resume services

After fighting a battle for more than 10 days, services at Max hospital in Shalimar Bagh resumed on Wednesday. The hospital had presented its case to the Finance commissioner on Tuesday. “The operation of the impugned order is stayed till the next hearing,” says the order by Finance Commissioner. The next hearing is on January 9.As the decision to open the hospital came out in public, a political slugfest kicked off between BJP and AAP over the decision. Neither the Lieutenant Governor Anil Baijal not the Delhi government owned up to the decision fearing public outrage, instead who is ‘ruling’ the Finance Commissioner became the trending topic.”Max Hospital Shalimar Bagh has resumed its operations from today, following a stay order issued by the appropriate Appellate authority to whom an appeal was made.We are fully focussed on providing quality care to all our patients and honouring our commitment of ensuring free treatment to the economically weaker sections of the society,” the hospital said in its statement on Wednesday morning. However, the ‘Appellate authority’ has not been specified by the officials.The L-G house stated on Wednesday that no officials from the hospital met Baijal regarding the cancellation order. “The powers of appellate authority, being a quasi judicial function are performed by the Financial Commissioner, Delhi as per his/her judgment without any interference or supervision by any authority,” a statement from L-G house stated.The Delhi government on December 8 had cancelled the license of the hospital’s branch in Shalimar Bagh for wrongly declaring a baby dead. A preliminary report submitted by a panel of doctors to the Delhi government had found the hospital guilty of not having followed the prescribed medical norms in dealing with a pair of newborn twins.”On what basis & by whose decision was the appellate authority formed to hear the Max Shalimar Bagh licence cancellation appeal ? How did the appellate authority reach to the conclusion in the first hearing itself that a stay can be given on the DGHS decision ??,” Delhi government spokesperson Nagender Sharma tweeted.The Finance Commissioner is a statutory post and the incumbent on this post exercises the powers of the Lieutenant Governor/ Chief Commissioner, delegated under various statues. The commissioner has been delegated powers to act in a quasi-judicial capacity. The commissioner hears revision petitions/appeals against orders passed by competent authority under various acts including Delhi Nursing Home Registration Act, 1953.”The Commissioner falls under the jurisdiction of the L-G and not Delhi government. We were not even informed about the order,” said a senior Delhi government official.The blame game between AAP and BJP began with both the parties turning it into a political issue. “It was just to attract public attention. The government has taken back its decision. There is definitely some behind this decision,” said Manoj Tiwari president, Delhi unit of Bharatiya Janata Party (BJP).”What was the tearing hurry for the appellate authority to stay the cancellation of Max Shalimar Bagh licence ? Why did the heart beat only for profit making hospital & not the new borns ?? Decision on whose directions ??,” Delhi AAP spokesperson Saurabh Bharadwaj tweeted.

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Max Hospital resumes operations today after ‘stay’ on licence cancellation order

Max Healthcare claimed its hospital in Shalimar Bagh in the city has resumed operations from Wednesday after an “appropriate” authority “stayed” its licence cancellation, though the appellate body did not confirm it.A week ago, the hospital group had filed an appeal in the the Court of the Financial Commissioner against the cancellation of the licence of its hospital in north-west Delhi by the Directorate General of Health Services (DGHS) of the city government.Max Healthcare in a statement issued on Wednesday claimed, “Max Hospital, Shalimar Bagh has resumed its operations from today, following a stay order issued by the appropriate appellate authority to whom an appeal was made.”However, an official from the Court of the Financial Commissioner, when contacted, did not share the copy of the stay order, saying, it can only be issued to the parties concerned.Max Healthcare authorities, when contacted also declined to share a copy of the stay order.”We are fully focused on providing quality care to all our patients and honouring our commitment of ensuring free treatment to the economically weaker sections of the society,” the private hospital group further said in its statement.The Financial Commissioner is a statutory post and the incumbent exercises the powers of the Lt Governor or Chief Commissioner, delegated under various statutes, according to details on the website of the Financial Commissioner.The DGHS of the Delhi government’s health department had cancelled licence of the hospital for multiple instances of alleged medical negligence, including a case in which one of the twins was found alive after being declared dead by the facility.The licence cancellation case pertains to the premature twins, one of whom was wrongly declared dead on November 30 at the hospital where he was born, and who died during treatment at a nursing home in Pitampura a week later.Both the babies were declared stillborn by the hospital and handed over to the family allegedly in a polythene bag. But to their utter horror, they found that the boy was still alive, while they were on way to do their final rites.

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Didi warns of nat’l movement against FRDI bill

TMC supremo and West Bengal Chief Minister Mamata Banerjee, at the TMC core committee meeting on Friday, said that just like the way the party had started a national movement against demonetization, it would do a similar one against Financial Resolution and Deposit Insurance (FRDI) Bill, uniting Congress and all anti-NDA regional parties against it.It was found out that the main point of opposition would be the bail-in clause in the FRDI Bill according to which the government would bail-out a bank trouble, which would, in turn, mean that other stakeholders, shareholders and even depositors would be saving the financial entity.”It involves the interest of crores of people. We have been told by the CM that the matter would be immediately raised within and outside the parliament. She had also said that TMC would play a pivotal role in bringing all the anti-NDA parties together just like she did in demonetization,” said a senior TMC leader on condition of anonymity. Mamata had earlier done this protesting against demonetization and GST.Another party source, who was present at the meeting, said that Mamta would be writing to the Central government to scrap the bill. “She asked party MPs to raise it at the parliament and other leaders to initiate movements in the shape of demonstration and rallies across the state. She said that if need be she would attend rallies of other political parties against the FRDI Bill,” the source said. To the leaders at the grassroots level, she had asked to spread the word against the bill on social media.WHAT WB CM SAIDCM asked party MPs to raise the issue at Parliament. She also asked other leaders to initiate movements in the shape of demonstration and rallies across the state. If need be, she would attend rallies of other political parties against the FRDI Bill,” a source said.

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Puducherry governor Kiran Bedi bans business class air travel by officials

Puducherry Lt Governor Kiran Bedi today banned business class air travel by officials in view of “severe financial constraints” faced by the territorial administration. “Business travel is not essential.It is a comfort and a luxury and not a right,” she said in a WhatsApp message to mediapersons after an urgent meeting with chief secretary Ashwin Kumar. “If we travel in economy class, we can save for the people in the current circumstances when we need every rupee,” Bedi said.A ban has been imposed with immediate effect on business class air travel by officials, she said.The former IPS officer said in the message that various measures were finalised at the meeting to overcome the financial constraints faced by the administration.She issued “immediate instructions” to all secretaries of the territorial administration asking them to strictly comply with the instructions.Bedi also instructed officials that before tenders are floated, it must be clearly stated in the proposed note for approval whether required money is available within the budget estimates of the departments.Also readKiran Bedi tweets video of old lady dancing thinking it was PM Modi’s mother, apologises for faux pas”Or else the exercise of tenders becomes futile in the event of funds not being available. This would also ensure prevention of blame games which only causes confusion in the minds of the people,” the Lt governor said.She contended that these measures would be followed in the interest of financial administration of the territorial government.The Secretary to Finance here has been duly informed about the measures and all government funded societies have also been directed to adhere to “principles of financial prudence lest the Heads of Departments should become accountable.”Also readSEE PIC: Kiran Bedi tweets a picture of Dr APJ Abdul Kalam’s chappals to highlight his simplicityThe objective is to save every rupee for essential expenses of the people of Puducherry, she added.

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Global Partnership Summit: Growing market has positive impact on private equity

Cross border mergers and acquisitions can be an important tool for fostering global partnerships aided by private equity. In a discussion titled ‘Role of Private Equity in Empowerment of Financial Institutions’ at the Global Partnership Summit being held in New Delhi leading players and experts from the industry talked about the expansion of the sector and the impact it has on global economics and partnerships.Global Partnership Summit is an India-Japan initiative to build alliances in various fields making way for closer cooperation between the two Asian countries.The panel included; George Molakal, an Oxford and Harvard Business School alumnus who is the CEO of Alcor Fund, Sachin Seth, Partner EY LLP, Dr E Sankara Rao, Managing Director and CEO, IFCI, Syed Zafar Islam, BJP Spokesperson who has been associated with the finance sector in the past, Boris Tsimerinov, Managing Director Semper and Capital and US based Mudit Dawar, Founder and CEO, Access.George Molakal gave the example of Coke to explain how cross border acquisitions can take place saying the soft drink giant started in US in 1904 and expanded to Canada and Mexico later has a huge presence across the world.He added that private equity can aid such acquisitions by targeting global customers.The discussion revolved around the impact of private equity in India. “In the last 10 years things have changed in India financially opening up the growth sector and private equity has come up in a big way,” said Rao.Sachin Seth said that the growth of India is happening a fast pace and it’s a win-win situation for financial institutions and private equity firms. “This is creating a robust financial eco system in the counrty.”He pointed out that many of the government schemes like Aadhar are helping since people since people are comfortable lending knowing they are strong mechanisms to detect fraud.Zafar Islam was of the opinion that India offers a lot more opportunities for private equity investments.”This ensures an alternate fund and ensure banks can run smoothly. Private equity creates an alternate capital for risk taking ability.”MORE OPPOTUNITIESZafar Islam was of the opinion that India offers a lot more opportunities for private equity investments. “This ensures an alternate fund and ensure banks can run smoothly. Private equity creates an alternate capital for risk taking ability.”

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Gujarat elections 2017 | New finance regulation bill on the cards: Arun Jaitley

Union Finance Minister Arun Jaitley threw light on a likely finance regulation bill at BJP’s media centre in Ahmedabad on Saturday. He said that the bill aimed at giving more strength to people’s deposits in financial institutions.Jaitley said, “For the past few days, a controversy has been raised by some people through social media that the standing committee of Parliament was mulling to form an act on economic health of a financial institution. I would like to make it clear that there was not any act or law in the nation which deals with it. Naturally, the government will consider, if any act or law is to be formed and what parliamentary committee suggests on that.””Financial institution’s economic health is the core of the act, that is being considered by the parliamentary standing committee. The depositors in banks and financial institutions have very limited protection in the conventional system that has been running for 70 years in this nation. There is an insurance cover of Rs 1 lakh only against the deposits of people, in whatever amount it is deposited. The government’s idea is to give strength to this protection and the existing situation in this context does not suffice the demand,” Jaitley added.When elections are going on in Gujarat, the issue had become a serious concern for the people as most people deposit their money and savings with the banking and financial sectors. The campaign on social media which has been running with the messages of adverse impact of the act, could have a great effect over the psyche of Gujarati voters, and the finance minister made this statement on this juncture.”The campaign is totally wrong. The government wishes to make protection covers to the deposit stronger and improvise them. The government will think about that and is committed to enhance the protection of the deposits of common people in financial institutions across the nation,” the finance minister added.

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Govt, Oppn brace up for showdown on FRDI Bill

The Congress and the CPM have red-flagged Section 52 of the Financial Resolution and Deposit Insurance (FRDI) Bill, likely to be tabled and passed in the Winter Session of Parliament, which will commence on December 15. The proposed law is part of government efforts to recapitalise banks to overcome the NPA (non-productive advances) crisis. It seeks to empower the banks and the financial institutions to write off part of their depositors’ money to help them from going bust.According to the RBI’s Financial Stability Report released in June 2017, the gross NPAs or bad loans to total deposits ratio of all banks stood at 9.6% in March 2017. The government-owned banks, however, currently have an even higher bad loans ratio of 13.69%.Nilotpal Basu, former MP and CPM central committee member, said: “The Modi government seems to be surreptitiously sneaking in a measure to institute ‘hair-cuts’ on depositors’ money in a manner that is similar to what we have seen in Greece, Cyprus and other European countries which have gone through an economic crisis.” A note posted by the Congress on Thursday also stated: “If the draft bill gets the nod of Parliament, it will empower the Resolution Corporation to cancel a bank’s liability or alter it to another security.”The opposition parties are also concerned over the fate of an insurance cover of Rs 1 lakh by the Deposit Insurance and Credit Guarantee Corporation since 1961 on all deposits of the individuals parked in savings or current bank accounts or held as fixed deposits, irrespective of how much is parked in these accounts.The Opposition is gearing up to stall the proposed law in the Upper House with full force and force amendments to provide a security to the money of depositors. Until now it was mandatory for banks to pay a sum to the DICGC as insurance premium. Though the Bill proposes the banks to pay a sum to the Resolution Corporation, it neither specifies the insured amount nor the amount a depositor would be paid. It is thus unclear how much a depositor would be paid in case of liquidation. While admitting that the provisions of the Bill do ensure resolution of issues in time-bound manner, Opposition leaders said the ambiguities on how the depositors would be repaid need to be addressed before it is table on the floor of Parliament.
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Rs 9, 500 cr for urban bodies to help implement AMRIT

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Central government has come up with Rs 9,500 crore scheme to help urban bodies which have failed to implement reforms under Atal Mission for Rejuvenation and Urban Transportation (AMRIT) due to various infrastructural problems. However, only 13 states and union territories who fulfill parameters would receive the benefit. Amrit scheme for improvement of infrastructure in the cities consisting 500 towns with population of one lakh and more. It is mandatory to implement reforms prescribed by the central government in order to receive fund under this scheme.These reforms are aimed at making urban bodies financially sound but due to infrastructural problems and lack of financial resources, they have been unable to implement these reforms, which is why the central government has come up with this RS 10,000 crore scheme. The money would be provided by the World Bank.For the next financial year, five states would be selected for the first phase of Rs 3273 crore. Let us show you how total 36 states and union territories would be selected. The union government make a formal announce soon.In the second phase of Rs 6500 crore, eight states would be included. The central government has prepared a time-bound programme to implement the first phase. The selected five states will have to make detailed plan to implement reforms. The World Bank would provide financial as well as technical assistance. The state government’s view will be sought in selecting cities.

Revenue Secretary Hasmukh Adhia designated as new Finance Secretary

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Revenue Secretary Hasmukh Adhia has been designated as the new Finance Secretary, an official order said today.Adhia is a 1981 batch IAS officer of Gujarat cadre.The vacancy was caused following the superannuation of Ashok Lavasa last month.The Appointments Committee of the Cabinet has approved designating Adhia as the Finance Secretary, the order issued by the Department of Personnel and Training said.As per the convention, the senior most Secretary in the Finance Ministry is designated as the Finance Secretary.There are five departments under the Finance Ministry– Expenditure, Economic Affairs, Financial Services, Revenue and Department of Investment and Public Asset management (DIPAM).IAS officer Rajiv Kumar of 1984 batch is the Financial Services Secretary. Ajay Narayan Jha is Expenditure Secretary and Neeraj Kumar Gupta Secretary, DIPAM. Both are 1982 batch IAS officers.Subhash Chandra Garg, a 1983 batch IAS officer, is Economic Affairs Secretary.

Govt freezes 58,000 bank accounts of 35K shell cos

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The noose around shell companies has tightened as the government has banned 58,000 bank accounts of 35,000 alleged shell companies who have deposited and withdrawn over Rs 17,000 crore during since demonetization.The move is part of a massive ongoing drive during which 2.24 lakh companies have so far been struck off. These corporations had been inactive for two years or more.After receiving inputs from 56 banks, the Ministry of Corporate Affairs restricted the operation of the bank accounts of the shell companies.These companies were not disclosing their financial details such as tax returns. Directors associated with these companies have been barred from banking transactions.In one case, a company which had a negative opening balance on November 8, 2016, deposited and withdrew Rs 2,484 crore after demonetization.Another company was found to have as many as 2,134 accounts.The Ministry of Finance said, “Apart from restrictions on bank accounts, action has also been taken to restrict the sale and transfer of the companies’ moveable and immovable properties until they are restored.”The state governments have also been advised to take necessary action by disallowing the registration of such transactions.The Directorate of Investigation, Kolkata, has busted a massive black money racket and identified 64,811 beneficiaries and shell companies involving bogus tax exemption of nearly Rs 38,000 crores through listed companies. The first detailed report on shell companies, prepared by the DDIT (Investigation) led by Dhruv Purari Singh, IRS, has been sent to the Prime Minister’s Office (PMO) and Central Board of Direct Taxes (CBDT) in 2015. After this report, the PMO constituted a Special Task Force under the joint chairmanship of Revenue Secretary and Secretary, Corporate Affairs, to monitor the drive against defaulting companies, with the help of various agencies. The Special Task Force has so far met five times and has initiated action against several defaulting companies.The information about these suspect companies has been shared with enforcement agencies including the CBDT, Financial Intelligence Unit (FIUs-Ind), Department of Financial Services and Reserve Bank of India (RBI) for further action. Companies have also been identified for investigation under the Companies Act, 2013, and necessary operation is underway including criminal prosecution.To curb black money, the government has taken various steps. RoC has disqualified directors on the board of such companies that have failed to file financial statements or Annual Returns for a continuous period of three fiscal years, during 2013-14 to 2015-16. Around 3.09 lakh directors have been affected by this action. A preliminary inquiry has shown that there are over 3,000 disqualified directors in more than 20 companies, which is beyond the limit prescribed by the company law.It was recently that the SFIO authorised the director, additional director and assistant director to arrest any person believed to be guilty of any fraud punishable under Section 447 of the Act, which defines fraud, stringent punishment including imprisonment up to 10 years is stipulated. The SFIO will also house a software application, to be developed soon, put in place an ‘Early Warning System’.The government has also constituted a high-level committee to suggest the revamp of the disciplinary systems against Chartered Accountants, Company Secretaries and Cost Accountants. The government is also planning to set up a National Financial Reporting Authority (NFRA), an independent body, to test check financial statements, prescribe accounting standards and to take disciplinary action against errant professionals.THE BIG CATCH64,811
The Directorate of Investigation, Kolkata, has busted a massive black money racket and identified 64,811 beneficiaries and shell companies involving bogus tax exemption of nearly Rs 38,000 crores.

WCD: Cannot give sanitary pads for free

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Ministry of Women and Child Development (WCD) has told the Delhi High Court that it has no role in providing menstrual hygiene products free of cost or at discounted rates to adolescent girls. The ministry was replying to a notice issued by the HC in July in a Public Interest Litigation (PIL) demanding the roll-back of the 12 per cent GST on sanitary pads and the availability of sanitary napkins and of education on menstrual hygiene to young girls. The notice was also sent to the Ministry of Health and Family Welfare, the Ministry of Human Resource Development and the Delhi government.”That the ministry of women and child development has no role in ensuring availability of menstrual hygiene products to adolescent girls in schools free of cost or at sub rates or allowing access to trained female school teachers/health counsellors in the school premises for imparting education about menstrual health (sic),” said the ministry in its reply filed on September 27.It also said that under the Sabla Scheme, the ministry provides nutrition and non-nutrition support in 205 districts to adolescent girls between the age of 11 to 18 years.Under the scheme, the ministry said that girls are provided nutritional support at Rs 5 per day per beneficiary for 300 days a year, apart from awareness and education on various health issues, including menstruation and reproductive and sexual health-related issues. In addition to that the ministry said that it also provides young girls with education and awareness on the importance of using sanitary napkins and maintaining good personal hygiene and sanitation.On the other hand, the health ministry has also said that since health is a state subject, it provides states with budgetary support under the National Health Mission for the procurement of sanitary napkins. It added that under the scheme over two crore adolescent girls in the age group of 10 to 19 years have been benefited.”The scheme was initiated in 107 districts in 17 states in the first phase and supply of sanitary napkins was carried out through central procurement. About two crore adolescent girls were benefited during the period from 2011 to December, 2015. Later on, in the Financial year 2014-15, this scheme was decentralised for procurement and distribution of sanitary napkins for expansion in all districts across the states,” the health ministry said. “At present, 18 states are supported through the National Health Mission funds for supply of sanitary napkins. Few state are also implementing this scheme using state budgets.”The health ministry, in its reply, pointed at the Delhi government’s scheme for sanitary napkins under which the Centre has already provided Rs 27 lakh for the 2017-18 financial year already.MINISTRY TO HCIt pointed at the high dropout rate of girls due to menstrual problems
It demanded that the 12% GST on sanitary napkins be rolled back

Huge transactions by shell firms found, probe ordered

<!– /11440465/Dna_Article_Middle_300x250_BTF –>In what could be just the tip of the iceberg, the Centre has stumbled upon a large number of suspicious banking transactions worth thousands of crores of rupees parked by shell companies. These suspect firms soon withdrew the amounts, either just before they were de-registered early this year or soon after demonetisation on November 8 last year.According to documents accessed by DNA, at least nine such companies have more than 100 bank accounts. The one topping the list so far — Gold Sukh Trade India Ltd — had 2,134 bank accounts. Some companies had even more than 900 bank accounts.In one of the banks, 429 companies, with zero balance each on November 8, 2016, have deposited and withdrawn over Rs 11 crore and left again a cumulative balance of just Rs 42,000 on the date of freezing, an official statement said.How meticulous had been the operation of these companies against which the Modi government has declared a war can be gauged from their modus operandi.These companies had multiple accounts with minuscule or negative balance till November 8 last year, which then deposited and withdrew amounts going into crores from these accounts. They were thereafter again left dormant.TECHNEXT Vyapar Ltd, which had negative balance on November 8, 2016, deposited over Rs 99 crore and withdrew almost the entire amount, leaving a paltry Rs 55 when the account was frozen.Taking note of the “iceberg of corruption, black money and black deeds” of these and many more such companies, the government has asked investigation agencies to complete investigations in a time-bound manner. “The country and honest citizen may well look forward to a cleaner tomorrow,” the statement said.Document with DNA show that among the companies that had more than 100 accounts and deposited and withdrew amounts during demonetisation till they were frozen are Ashwin Vanaspati Ind Pvt Ltd, (915 bank accounts), Anujay Exim Pvt Ltd (313), Radha Krishna Payal Bhandar Pvt Ltd (298), Shanti Infrastructure and Colonisers Pvt Ltd (234), Aptive II Solutions Pvt Ltd (180), Marvel Consulting Engineers Pvt Ltd (172), AR Industrial Traders (161) and Swarnalabh Trade Link Ltd (147 bank accounts).The Ministry of Corporate Affairs has noted that Bank of Baroda has given a list of 1,701 such companies and their 8,633 accounts, which have thrown up “details, which may be of interest to Department of Financial Services and RBI to see how this happened in case of defaulting companies and struck off companies”.It further said, “this also highlights the need for Ministry of Corporate Affairs/Registrar of Companies to conduct inquiries into the affairs of these companies and associated companies. So is the need for Income Tax and other regulatory agencies.”IDBI bank, which has a major chunk of amounts involved as per information so far, has furnished a list of 3,330 companies with 3,634 accounts. They had a balance of Rs 13.29 crore on November 8 last year. They deposited Rs 3,792.40 crore and withdrew Rs 3,794.04 crore before the strike-off. They deposited Rs 21.30 crore and withdrew Rs 249.45 crore even after strike-off, leaving a negative balance of Rs 215 50 crore.159 companies with zero balance accounts in IDBI, which had a balance of Rs 2 crore left before strike-off, deposited Rs 1.95 crore and withdrew Rs 227.50 crore after strike-off, leaving a negative balance of Rs 223.54 crore.Canara Bank has given a list of 717 companies and 784 accounts in current accounts and 15 companies and 153 accounts in term deposits, which deposited and withdrew money during demonetisation. Further in Canara Bank, 429 companies with zero balance on November 8 last year, deposited and withdrew Rs 11 crore and left again with cumulative balance of just Rs 4,200.The Ministry of Corporate Affairs had requested the Indian Banks Association (IBA) to get information from banks on account operations of 2,09,032 such struck-off companies and restrictions on their bank accounts as per the relevant section of the Companies Act, 2013. After their names were struck off, the operation of bank accounts of these shell companies were restricted to discharge of their liabilities only.Thirteen banks, directly shared information, throwing up transactions in about 5,800 companies, who were operating 13,140 accounts.Four banks have stated that there are no such accounts. The figures available are just 2.5 per cent of the total shell companies forced to shut shop. As more figures come, the amount of black money that could be unearthed will only grow bigger and bigger.A perusal of the figures furnished by nine banks, shows that after separating the loan accounts, the companies had meagre balances amounting to Rs 22.05 crore on November 8 but they deposited Rs 4,573.87 crore and then withdrew Rs 4,552 crore of this money from the date of demonetisation till they were struck off. With loan accounts, there was a negative balance of Rs 80.79 crore.Sources in the government say that while a large number of these shell companies were used to park and then withdraw black money through banking channels in the two-month window after demonetisation, a number of companies in collusion with officials also managed to do the same through their accounts after the registration of their companies was struck off earlier this year.SHELL-SHOCKEDAt least nine shell companies have more than 100 bank accounts
Gold Sukh Trade India Ltd had 2,134 bank accounts

WATCH: PM Modi’s full speech as India and EU work towards combating global terrorism

<!– /11440465/Dna_Article_Middle_300x250_BTF –>India and the European Union today resolved to deepen their cooperation to combat terrorism by taking “decisive and concerted actions” against globally proscribed terrorists and terror entities including 26/11 Mumbai attack mastermind Hafiz Saeed, Zakiur Rehman Lakhvi and Dawood Ibrahim.After the 14th India-EU Summit, Prime Minister Narendra Modi, European Council President Donald Franciszek Tusk and European Commission President Jean-Claude Juncker adopted a ‘Joint Statement on Cooperation in Combating Terrorism’ that seeks to deepen their strategic and security cooperation.Addressing a joint press event with the EU leaders, Modi said, “We have agreed to strengthen our security cooperation and work together against terrorism. We will not only further strengthen our bilateral cooperation on this issue, but will also increase our cooperation and coordination in multilateral fora.”Tusk said, “We have adopted a joint declaration on counter terrorism in which we agreed to counter violent extremism and radicalisation, particularly online, and to deal effectively with the threat by foreign terrorist fighters, terrorist financing and arms supply.”Later briefing reporters, Ruchi Ghanshyam, secretary (west) in the Ministry of External Affairs, said it was for the first time that the EU had not only agreed to mention terrorist entities but also terrorists in an India-EU document.She said the joint statement on combating terrorism talks of cutting flow of funds and economic resources to individuals and to other entities involved in terrorism.”The leaders agreed to strengthen cooperation to take decisive and concerted actions against globally proscribed terrorists and terror entities including Hafiz Saeed, Zakiur Rehman Lakhvi, Dawood Ibrahim, Lashkar-e-Toiba, Jaish-e- Mohammed, Harkat-ul-Jihad, the Haqqani network, al Qaeda, ISIS and their affiliates,” she said.The two sides, she said, reaffirmed their commitment to jointly combating terrorism and violent extremism in all their forms and manifestations irrespective of their motives.”They (the two sides) have agreed to exchange information on domestic and international terrorist designation listing proposals,” Ghanshyam said.The leaders strongly condemned the recent terrorist attacks in many parts of the world, underlining their common concern about the global threat posed by terrorism and extremism.Ghanshyam said the leaders also called for perpetrators of the recent terrorist strikes like those in Pathankot, Uri, Nagrota in Jammu and Kashmir) Stockholm (Sweden), Nice (France), London, Barcelona (Spain), Brussels (Belgium) and also the 2008 Mumbai terror attacks to be brought to justice.”They recalled that responsible states should take adequate measures to ensure that their territories are not used for terrorist activities,” Ghanshyam said, in an apparent reference to Pakistan.The leaders welcomed the joint commitment to exploring opportunities to share information, best practices, including those related to countering online threat of radicalisation, and to engage in capacity building activities such as training and workshops.They emphasised on the need to deepen cooperation within the UN and the Financial Action Task Force (FATF).The EU congratulated India on becoming a signatory to the Missile Technology Control Regime (MTCR) and welcomed its subscription to The Hague Code of Conduct against Ballistic Missile Proliferation (HCoC).They also noted New Delhi’s intensified engagement with the Nuclear Suppliers’ Group (NSG), the Wassenaar Arrangement and the Australia Group.The two sides reaffirmed their commitment to enhancing maritime security cooperation in the Indian Ocean and beyond.They noted that the recent joint manoeuvres (PASSEX) between the EU Naval Force and the Indian Navy off the coast of Somalia was a successful example of naval cooperation.”The EU looks forward to India’s possible participation in escorting World Food Programme vessels in the near future,” Tusk said.The EU appreciated the “positive role” being played by India in extending development assistance in Afghanistan, including for building social and economic infrastructure, governance institutions and human resource development and capacity building

Mumbai: Two arrested for assaulting KEM doctor who ‘numbered’ Elphinstone victims

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Two of the accused, who allegedly attacked the forensic head of the King Edward Memorial Hospital, Dr. Harish Pathak, and tried to scribble a number on his forehead, have been arrested by the Bhoiwada Police.An FIR was registered on complaint of Dr. Harish Pathak under sections 353, 145, and 149 of the Indian Penal Code (IPC).The accused that attacked the forensic head were agitated by the hospital’s decision to identify the victims of the stampede at Mumbai’s Elphinstone station by marking a number on their foreheads.23 people were killed and over 39 got critically injured in a rush-hour stampede at Mumbai’s Elphinstone railway station’s foot-over bridge.Meanwhile, Railway Minister Piyush Goyal said 20 new foot-over bridges have been approved in the Central Railways and 10 new foot-over bridges in the Western Railways. Apart from this, 13 foot-over bridges have been approved for widening.He said the 40 maintenance yards across the country will be upgraded and will be laced with modern technology for maintenance for wards, locomotive in a better way.“I have sanctioned 15 car platforms for extension in the Western Railways, which will be beneficial for speeding up the process in the slow corridor,” he said.Earlier in the day, Goyal empowered the Railways’ General Managers to spend whatever is necessary on safety.Goyal took this decision, while chairing a meeting with the senior officers of the Railway Board at Western Railways headquarters at Churchgate. Various major decisions were taken in the meeting, wherein passenger safety has been accorded the highest priority.For the next 18 months, General Managers of Railway Zones have been delegated powers without limit for safety-related issues. They shall intimate the Financial Commissioner (FC) within a week of sanction for provision, and the FC shall confirm the same within 15 days. In case of disagreement, the matter shall be put up to the Railway Board for final decision within the same 15 days.Maharashtra Chief Minister Devendra Fadnavis had expressed sadness over the Mumbai stampede, assuring that a strict action will be taken against the culprits.

Govt to woo micro units with more MUDRA loans

<!– /11440465/Dna_Article_Middle_300x250_BTF –>As part of its aim of integrating micro-enterprises into the formal economy and to provide institutional finance to help them start and grow their businesses, the government is ramping up its outreach to extend bank loans under Micro Units Development Refinance Agency (MUDRA) scheme.To that end, a special ‘MUDRA Promotion Campaign’ is set to be launched in the state where businessmen will be made aware of various schemes as well as digital transactions.Officials say the move is aimed at enabling institutional credit to these entrepreneurs so that they do not have to rely on private moneylenders. So far, Rs 16,700 crore has been advanced to close to 26 lakh businessmen in about two and half years.“The move is a part of better integrating small businessmen with banks so that they can get loans at cheaper rates,” GC Murmu, Additional Secretary for Financial Services in the central Ministry of Finance said on Thursday, while announcing the campaign. Apart from MUDRA schemes, social security schemes will also be highlighted.“We want to double the credit disbursement under MUDRA Scheme. The disbursement in 2016-17 was Rs 1,80,000 crore across the country,” said Murmu.Gujarat’s Expenditure Secretary Milind Torwane said that camps will be conducted at various places in the state to bring about awareness about the schemes, aimed at promoting self employment among the youth, especially those in the rural areas.“We will also showcase success stories of loan beneficiaries in Gujarat. We want others to see how these small loans have brought about a change in the lives of these people,” said Vikramadityasingh Khichi, Field General Manager of Dena Bank, which is the lead bank in Gujarat for State Level Bankers Committee (SLBC) and will spearhead the campaign.The government is betting big on Rupay Cards as well as mobile payment modes like the BHIM app and United Payment Interface (UPI).ABOUT MUDRAThe scheme is aimed at providing financial help to micro-enterprises to help them grow.
A special campaign is to be launched to make businessmen aware of MUDRA.
In last two-and-a-half year Rs 16,700 crore has been extended to 26 lakh businessmen.

Mumbai Trans-Harbour Link: MMRDA opens bids for constructing 22-kilometre link

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday said that it has opened the financial bids for the third package of construction for 22-km-long Mumbai Trans Harbour Link (MTHL). Larsen & Toubro was found to be the lowest bidder for the third package of MTHL after quoting 22.45% below the estimated Rs 1,300 crore.Earlier, on Thursday MMRDA had opened financial bids for the remaining two packages wherein the bidders had quoted about 15 per cent more than the estimated of Rs 11,500 crore.“Financial bid for third package of MTHL was opened today in which L&T is the lowest with 22.45 per cent below,” UPS Madan, Metropolitan Commissioner, MMRDA, told DNA on Friday.The MMRDA had estimated Rs 12,800 crore for the civil construction out of the total cost of Rs 17,800 crore for the project. However, bidders for two out of the total three packages, in which the project was divided, have quoted 15 per cent more than the estimations, and for the third package L&T has quoted, below the estimated.Further, two joint ventures namely L&T with IHI Japan, and Tata Projects with Daewoo Korea for the first two packages, and L&T in the third package have been shortlisted for the construction of MTHL.The Japanese International Cooperation Agency (JICA) is funding almost 85 per cent of the project cost of MTHL. Due to this, JICA’s no objection certificate (NOC) would be required considering it is funding the project.Ever since MTHL was proposed back in 1980’s the project cost has increased more than 350%. In 2005, the cost was estimated at Rs 4,000 crore and the same was estimated to be Rs 17,800 crore in 2016. But now after the quotations being higher than estimations, the construction cost might reach upto Rs 20,000 crore.MMRDA had in January 2017, announced that it had short listed in all 29 contractors for the 3 packages of the 22-km long MTHL project. This includes seven contractors each for the first two packages and 15 for the third package.

Govt goes soft BKC for bullet train entry

<!– /11440465/Dna_Article_Middle_300x250_BTF –>In the backdrop of Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe going to conduct the stone-laying ceremony for ambitious bullet train project connecting Mumbai and Ahmedabad on Wednesday, the Maharashtra government has softened its stand of allowing Railways entering Bandra Kurla Complex (BKC) for construction of bullet train terminal.The state government has proposed two locations inside BKC for construction of the bullet train terminal. The third one is proposed at Dharavi, which the Railways is unlikely to accept, state government officials said.Earlier, the state government and Mumbai Metropolitan Region Development Authority (MMRDA) were opposed to giving land to the Railways for bullet train terminal at BKC, citing it to be costly and the MMRDA wanting the vacant land for construction of International Financial Service Centre (IFSC).However, the bullet train project is a pet project of PM Modi and it was on the demand of the Centre that the state government had to change its decision.”The state government has proposed two locations inside BKC. Of the two, one is near Mithi River. The other one is at IFSC,” UPS Madan, Metropolitan Commissioner, MMRDA, told DNA.According to MMRDA officials, if the Railways does not find the site near Mithi River, the both the bullet train terminals would be at IFSC. The design would be prepared accordingly.MMRDA, however, earlier had pointed out that the land rate in BKC is very high and it wants to monetise the land parcels in BKC for garnering funds for crucial infrastructure projects in Mumbai Metropolitan Region (MMR). It also wants to construct an International Financial Services Centre (IFSC) on the plot, which the Railways want for the bullet train terminal.Prime Minister Narendra Modi and Japanese PM Shinzo Abe will be laying the foundation stone of the Mumbai-Ahmedabad bullet train on Thursday from Ahmedabad in Gujarat. The high-speed corridor will be elevated, and bullet train will ply at 300 km to 350 km per hour. The estimated cost of the project will be Rs 1,10,000 crore. Of this, Japan will offer a loan of Rs 88,000 crores at an interest of 0.1%. The amount will be repaid in 50 years to the foriegn country with 15 years grace.Bullet train will cover 508-km from Mumbai and Ahmedabad. The 12 proposed stations between Mumbai and Ahmedabad are BKC, Thane, Virar, Boisar, Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad and Sabarmati. The distance would be covered in 2 hours and 58 minutes.AnalysisThe state government’s softening its stand on allowing construction of bullet train terminal at BKC would help the Railways clear one of the major hurdle considering BKC is proposed to be one of the starting point of bullet train and the land acquisition for the same is crucial for the project to begin civil construction work.

DNA Morning Must Reads: Updates on Gurugram student murder case, Rafael Nadal reaches US Open final, and more

<!– /11440465/Dna_Article_Middle_300x250_BTF –>1. Predator slits throat of kid at top Gurgaon school, bus conductor arrestedA seven-year-old boy was brutally killed inside Ryan International School in Gurugram on Friday morning by a school bus conductor who slit his throat after trying to sexually assault him, sparking widespread shock and outrage both against the horrific crime and the institution’s criminal negligence and utter security failure. Read more here2. Corporates question tax defaulters list that MoF sent to banksCorporates have reacted strongly and questioned the process of recovery of disputed tax amounts as the Financial Intelligence Unit (FIU) of the Ministry of Finance has collected banks details of hundreds of companies and individuals. Read more here3. At least 60 dead, hundreds injured in Mexico’s strongest quake in 85 yearsAt least 60 people died when the most powerful earthquake to hit Mexico in over eight decades tore through buildings and forced mass evacuations in the poor southern states of Oaxaca and Chiapas, triggering alerts as far away as Southeast Asia. Read more here4. Rafael Nadal beats Juan Martin Del Potro to enter US Open finalWorld number one Rafa Nadal moved closer to a 16th grand slam title when he recovered from a first set wobble to crush Argentine 24th seed Juan Martin del Potro 4-6, 6-0, 6-3, 6-2 in the US Open semi-finals on Friday. Read more here5. Sidharth Malhotra to join Salman Khan in ‘Race 3’?Last time, when After Hrs spoke to Ramesh Taurani, he revealed that for Race 3, along with Salman Khan, they are looking to cast another young A-list hero. Guess their search has ended now with Sidharth Malhotra. Read more here

State not willing to part with BKC land for bullet train project

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Prime Minister Narendra Modi’s dream project of a bullet train between Mumbai and Ahmedabad received a jolt when the state government refused to provide a piece of land sought by the railways at Bandra Kurla Complex (BKC).The state government is believed to have conveyed the same to the railways and asked them to look at an alternate piece of land.Sources from the government informed that the state government has put forward alternate pieces of land in BKC for the project.However, the alternate pieces of land are located on one corner and are not in any way at the proposed site of International Financial Services Center.The sources informed that the state government has also proposed to provide a piece of land in Dharavi which is going for redevelopment. The government offered another piece of land at Lokmanya Tilak Terminus.Sources said that the state government has informed officials of High Speed Railway Corporation, which will be undertaking the bullet train project, about their inability to provide the proposed land below IFSC.Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe will be laying the foundation stone of the bullet train project at Ahmedabad in September.

Meet Rajiv Bansal,the interim boss of national carrier Air India

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Rajiv Bansal, the Additional Secretary and Financial Adviser at Ministry of Petroleum, has been made the interim Chairman and Managing Director of Air India.According to the media reports, the decision was taken after the current national carrier chief was appointed as Chairman of the Railway Board on Wednesday.The 1988 batch IAS officer has been assigned the additional charge fo Air India CMD, “for the period of three months or until further orders, whichever is earlier,” a government circular said.Bansal has also served in the ministry of electronics and information technology, where he looked after digital payments, IT Act, Aadhaar, and internet governance, a Livemint report said.A career bureaucrat with over three decades of experience, Bansal has also served as secretary, Central Electricity Regulatory Commission (CERC); and joint secretary, department of heavy industries, the report said.The new Air India CMD is an IIT graduate in civil engineering.

PM asks CEOs to partner with govt for New India

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Prime Minister Narendra Modi on Tuesday addressed over 200 young CEOs and corporate leaders at the Pravasi Bharatiya Kendra and exhorted them to become soldiers of development and partner with the government to make India a cashless society.“You are my team, and we need to work together to take India forward,” the PM told the CEOs, as he also appreciated the ideas put together by the CEOs in their presentations to the CMs last week.This was the PM’s second address in the ‘Champions of Change — Transforming India through G2B partnership’ series organised by the Niti Aayog.Six groups of young CEOs made presentations before the PM on themes such as Make in India, Doubling Farmers’ Income, World Class Infrastructure, Cities of Tomorrow, Reforming the Financial Sector, and New India by 2022.In his address, the PM spoke about various initiatives taken by his government after coming to power. He spoke about decisions taken for urea availability and production — such as gas price pooling, remuneration for excess production etc.INVOKES GANDHIPM Modi urged the young entrepreneurs to make India’s growth a mass movement
In the same spirit as what Mahatma did for the freedom struggle, we need to make India’s growth a mass movement, he said.

Dawood Ibrahim on UK asset freeze list with 3 Pak addresses

<!– /11440465/Dna_Article_Middle_300x250_BTF –> India’s most wanted terrorist Dawood Ibrahim remains the only “Indian national” on an updated list of financial sanctions released by the UK which also listed 21 aliases for the underworld don. It also effectively counters Pakistan’s claim that Dawood is not present in their country. The mafia boss appears on the UK Treasury department’s ‘Consolidated List of Financial Sanctions Targets in the UK’ updated on Monday with three recorded addresses in Pakistan, where he is reportedly based. “Kaskar Dawood Ibrahim” is recorded to have lived at: House No 37, 30th Street – Defence Housing Authority, Karachi, Pakistan; Noorabad, Karachi, Pakistan (Palatial bungalow in the hilly area); and White House, Near Saudi Mosque, Clifton, Karachi, Pakistan.A fourth address on record until last year ‘ House no.29, Margalla Road, F 6/2 Street no.22, Karachi, Pakistan ‘ is no longer part of the records. Ibrahim is the main accused in the 1993 serial bomb blasts case in Mumbai in which around 260 people were killed, and more than 700 suffered injuries. He fled the country post the bombings and is understood to be hiding in Pakistan. Pakistan has repeatedly denied his presence in the country.
ALSO READ When a news channel spoke to Dawood Ibrahim His place of birth is recorded as Kher, Ratnagiri, Maharashtra, and his nationality is listed as “Indian” with a recorded Indian passport which was subsequently revoked by the government of India?and then goes on to list a string of Indian and Pakistani passports acquired by him and misused.”Father’s name is Sheikh Ibrahim Ali Kaskar, Mother’s name is Amina Bi, Wife’s name is Mehjabeen Shaikh. Also referred to as Hizrat and Mucchad,” the listing on Ibrahim, first made on November 7, 2003, notes. The listing also records 21 aliases used by Ibrahim: Abdul, Shaikh, Ismail; Abdul Aziz, Abdul Hamid; Abdul Rehman, Shaikh, Mohd, Ismail; Anis, Ibrahim, Shaikh, Mohd; Bhai, Bada; Bhai, Dawood; Bhai, Iqbal; Dilip, Aziz; Ebrahim, Dawood; Farooqi, Sheikh; Hasan, Kaskar, Dawood; Hassan, Dawood; Ibrahim, Anis; Ibrahim, Dowood, Hassan, Shaikh; Kaskar, Daud, Hasan, Shaikh, Ibrahim; Kaskar, Daud, Ibrahim, Memon; Kaskar, Dawood, Hasan, Ibrahim; Memon, Dawood, Ibrahim; Sabri, Dawood; Sahab, Haji; and Seth, Bada.The financial sanctions list also included organisations such as the Liberation Tigers of Tamil Eelam (LTTE), Khalistan Zindabad Force and Hizbul Mujahideen. A series of affiliates of ‘Al-Qaeda’ and the ‘Islamic State of Iraq and the Levant’ are also recorded on the list. Financial sanctions in force could apply to individuals, entities and governments who may be resident in the UK or abroad.The measures include prohibiting the transfer of funds to a sanctioned country and freezing the assets of a government, the corporate entities and residents of the target country to targeted asset freezes on individuals/entities. Certain financial sanctions may also prohibit providing or performing other financial services, such as insurance, to designated individuals or governments. It is a criminal offence to breach a financial sanction, without an appropriate licence or authorisation from the UK Treasury.

Har minister challenges ex-CM for debate

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Haryana Finance Minister Abhimanyu today challenged former chief minister Bhupinder Singh Hooda for a debate on the financial management during his tenure and the present one. The debate should be held in any university of the state rather than at a political forum, he said in a statement here. If Hooda wants to have a debate on the financial condition of Haryana during his tenure in comparison to the three years of the present dispensation, he should come forward, Abhimanyu said. The minister alleged that during his 10-year tenure, Hooda had not “left any stone unturned in ruining the state”. “Not only the financial management of the government was bad, financial mismanagement had adverse effect on HUDA, HSIIDC and power utilities,” he said. In the last three years, the BJP government has not only improved the financial management, but also filled the “pits dug” by the Hooda government, Abimanyu claimed. Hooda should stop “lying” and accept the truth because the people of Haryana will not fall prey, he said. Reacting to Hooda’s reported statement that the debt burden had increased during the BJP government and there was financial mismanagement, Abhimanyu said a white paper had been released to inform the people how the policies of the Congress government had “ruined” the state. He said after its formation, the BJP government took over the Rs 26,000-crore debt of power utilities and improved their condition. This has resulted in annual saving of about Rs 1,000 crore, the minister claimed.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Bedi pledges to ensure ‘financial prudence’ in Puducherry

<!– /11440465/Dna_Article_Middle_300x250_BTF –>: Lt Governor Kiran Bedi today said her ‘new India pledge’ was to keep ensuring financial prudence in Puducherry. “My #NewIndiaPledge #SankalpSeSiddhi is to keep ensuring FinancialPrudence in Puducherry,” she said in a message on her Twitter handle on the occasion of the 75th anniversary of the Quit India Movement. Bedi, who has been loggerheads with the Congress government over many issues,has insisted on financial prudence on several occasions and come out with suggestions to the government in this regard through her WhatsApp communication and also her Twitter handle. Pondicherry University Vice-Chancellor (officiating) Anisa Basheer Khan today administered the ‘New India pledge’ to staff and employees of the university. A release from the university’s Assistant Registrar K Mahesh said the pledge (‘Sankalp se Siddhi’) envisaged creation of “clean India and India free from poverty, corruption, terrorism, communalism and casteism.”(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

TISS student elections: Charter of demands issued to future representatives

<!– /11440465/Dna_Article_Middle_300x250_BTF –>As students at the Tata Institute of Social Sciences(TISS) gear up to vote for their representatives, they have created a ‘charter of demands’ for candidates who would be elected to the institute’s student elections.Through the charter, students at the institute have highlighted some important problems plaguing the institute at this point including the issue of fund crunch, and cuts in student fellowships. “This year Financial Aid for GOI students from SC/ST category was removed on a very short notice. Upfront fees payment for GOI students from OBC background has been happening since the past two years. Students were also threatened and not allowed to enter hostels without showing a record of having paid the fees. We demand a committee of students to be constituted to discuss and develop a plan of action on how to pursue the matter with the administration” states the charter.”The institute is grappling with a large number of issues which are affecting students on an every day basis. We want a student union that would encourage collectivisation and political activity on campus. At a point when the government is trying to stifle voices of students across universities, it is important for students to speak about their issues without any fear in any form — gatherings, protests or anything else. The idea behind making the charter was to communicate the demands of the student community to our future representatives” said Aabha J, a second year MA student at the institute who was a part of the group who drafted the charter.Some of the other demands made in the charter include addressing the issue of excessive surveillance on campus, increasing student participation in key decisions, giving security to teachers from sudden terminations, etc. This year five candidates are contesting for the post of president. For the first time , a student representative would be elected to the Social protection office (SPO). Students will vote for the candidates on August 4.The list One of the main demands made in the charter is a student union that would encourage collectivisation and political activity on campus.Some of the other demands include addressing the issue of excessive surveillance on campus, increasing student participation in key decisions, giving security to teachers from sudden terminations.

Bhupinder Singh Hooda misused position in AJL case, ED tells High Court

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Enforcement Directorate (ED) has told the Punjab and Haryana High Court that former Haryana chief minister Bhupinder Singh Hooda allegedly misused his official position and illegally re-allotted a plot in 2005 to the Associated Journals Limited (AJL) in Panchkula.The ED’s response came on a petition filed by Congress leader and chairman of AJL, Moti Lal Vora, who has sought quashing of enforcement case investigation report (ECIR) registered by the ED. The ED told the court in an affidavit on Wednesday in Chandigarh that Hooda allegedly misused his official position to re-allot the plot to the petitioner and caused “wrongful gain” to it and corresponding loss to the state exchequer.The ED told the court that investigations have revealed that when Hooda became chief minister in 2005, he allegedly re-allotted the plot in gross violation of existing policy and legal position.The Haryana Urban Development Authority (HUDA) and the Financial Commissioner of the Town and Country Planning Department (FCTCP) had advised against re-allotment of the plot in Panchkula to AJL, but Hooda “in order to show favour to petitioner” bypassed recommendations of both government departments, the ED submitted before the court.AJL is publisher of the National Herald newspaper with Vora as chairman.The ECIR registered on July 15, 2016 by Chandigarh office of the ED was based on a May 5, 2016 FIR of the Haryana Vigilance Bureau regarding allegations of cheating and corruption against Hooda and others for allegedly reallotting an industrial plot in Panchkula to AJL.The plot had been initially allotted to AJL in 1982. After the expiry of the lease period in 1996, the Haryana Vikas Party government led by Bansi Lal took back its possession. It was reallotted to AJL after the Congress came into power in 2005 with Hooda as CM.Notably, the ED had issued summons last year to Vora in connection with its money laundering probe into alleged irregularities in the allotment of a plot to AJL in Panchkula in 2005.Vora, the national treasurer of the All India Congress Committee, had been earlier summoned under the provisions of the Prevention of Money Laundering Act (PMLA) by the Investigating Officer of the case in his capacity as the Chairman and Managing Director of the AJL.The agency, last year, had filed a criminal complaint and booked Hooda, AJL officials and others on charges of alleged money laundering, taking cognisance of a Haryana State Vigilance Bureau FIR.

Hooda misused position in AJL case, ED tells High Court

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Enforcement Directorate (ED) has told the Punjab and Haryana High Court that former Haryana chief minister Bhupinder Singh Hooda allegedly misused his official position and illegally re-allotted a plot in 2005 to the Associated Journals Limited (AJL) in Panchkula. The ED’s response came on a petition filed by Congress leader and chairman of AJL, Moti Lal Vora, who has sought quashing of enforcement case investigation report (ECIR) registered by the ED. The ED told the court here in an affidavit yesterday that Hooda allegedly misused his official position to re-allot the plot to the petitioner and caused “wrongful gain” to it and corresponding loss to the state exchequer. The ED told the court that investigations have revealed that when Hooda became chief minister in 2005, he allegedly re-allotted the plot in gross violation of existing policy and legal position. The Haryana Urban Development Authority (HUDA) and the Financial Commissioner of the Town and Country Planning Department (FCTCP) had advised against re-allotment of the plot in Panchkula to AJL, but Hooda “in order to show favour to petitioner” bypassed recommendations of both government departments, the ED submitted before the court. AJL is publisher of the National Herald newspaper with Vora as chairman. The ECIR registered on July 15, 2016 by Chandigarh office of the ED was based on a May 5, 2016 FIR of the Haryana Vigilance Bureau regarding allegations of cheating and corruption against Hooda and others for allegedly reallotting an industrial plot in Panchkula to AJL. The plot had been initially allotted to AJL in 1982. After the expiry of the lease period in 1996, the Haryana Vikas Party government led by Bansi Lal took back its possession. It was reallotted to AJL after the Congress came into power in 2005 with Hooda as CM. Notably, the ED had issued summons last year to Vora in connection with its money laundering probe into alleged irregularities in the allotment of a plot to AJL in Panchkula in 2005. Vora, the national treasurer of the All India Congress Committee, had been earlier summoned under the provisions of the Prevention of Money Laundering Act (PMLA) by the Investigating Officer of the case in his capacity as the Chairman and Managing Director of the AJL. The agency, last year, had filed a criminal complaint and booked Hooda, AJL officials and others on charges of alleged money laundering, taking cognisance of a Haryana State Vigilance Bureau FIR.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

15 CA aspirants figure among top 50

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Rajasthan has once again scored well at Chartered Accountant final results with as many as 15 CA aspirants securing rank among top 50 across the country. Rishabh Rathi, a 21-year-old from Jodhpur, secures All India Rank 14, thus topping the state.“The key is to remain motivated till the end. I gave a normal preparation with about 10 to 12 hours everyday, which is given by all students. Lack of confidence and depression should be avoided, specially during one or two months before the examination. Even I felt the same, but could cope up with it because of my parents and my brother,”Rathi said.Rathi, who’s father Amarchand Rathi is a business man in Jodhpur, wants to pursue Chartered Financial Analysis course now but wants to fund it himself by working as a CA in a corporate job.“The course is very expensive so having a job is my priority,” Rathi explained. It is to be noted that as many as five students, namely, Riya Gupta, Deepak Kumar Madhani, Dhanesh Agarwal, Sakshi Jain, and Swati Khandelwal, from Jaipur secured ranks among top 50 in India.“I am happy and content with the result,” said Dinesh Kumar Jain, branch president, Jaipur.The passing percentage of students appearing for both groups from Jaipur declined from 12.51 per cent in November 2016 to 9.95 per cent in this attempt. On the contrary, the passing percentage of both groups overall India increased from 11.57 per cent to 22.98 per cent. The statistics reveals that the performance of the city has gone down significantly.The result of Common Proficiency Test (CPT), the first level of Chartered Accountant examination, reveals that as many as 817 students from Jaipur center cleared the examination, amounting to 40.52 per cent of total students appeared.

PM-Modi-puts-forth-11-point-action-agenda-for-counter-terrorism-at-G20

<!– /11440465/Dna_Article_Middle_300x250_BTF –> Indian Prime Minister Narendra Modi, speaking on terrorism, at the G20 Summit here presented an 11-point action agenda for counter-terrorism even as he stated the need to strengthen inter-governmental cooperation amongst the G-20 nations. The Prime Minister, who was the lead speaker on the theme of terrorism at the Leaders Retreat, said that be it Daesh or al-Qaeda in the Middle East, Lashkar-e-Taiba, Jaish-e-Mohammed or the Haqqani network in the South Asia or the Boko Haram in Nigeria, they are all guided by the same ideology hatred and manslaughter. Prime Minister Modi?s 11-point action agenda included deterrent action against countries supporting terrorism and banning entry of leaders of such countries to the G-20 nations; exchange of suspected terrorist list among the G-20 nations and joint action against them and to simplify and expedite extradition and other legal processes. The list further included adoption of comprehensive convention on international terrorism, implementation of United Nations Security Council resolutions and other international process, joint efforts for best practices in de-radicalisation programmes by G-20 nations and closure of terrorist financing sources through FATF (Financial Action Task Force). He also called for the creation of an Explosive Action Task Force in the lines of FATF that could crackdown on the sources of supply of arms and ammunitions to terror outfits. Other points included in the list were G-20 cooperation in cyber-security and to establish a mechanism for National Security Advisors on counter-terrorism in G-20 nations. Earlier in the day, the Prime Minister attended the informal gathering of BRICS leaders in Hamburg. The Indian leader also had a conversation on a range of issues with Chinese President Xi Jinping at the gathering.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Beautification of city: JDA approves finances of projects

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Financial sanctions to various projects related to beautification and development of city were given by Jaipur Development Authority (JDA) on Wednesday.In the executive committee meeting held at JDA office on Wednesday morning, the bid of revival project of Galta Valley got clearance. The bid was for Rs 3.94 crore and once the bid is now accepted, the work on this project would begin soon.Similar financial sanctions were also given for Greenwood Garden, which will be developed on Agra Road. The financial sanction for this project of Rs 4.08 crores was given by JDA in the meeting. Sanction of Rs 5 crores for Silver Park Phase 2 was given in the meeting held on Wednesday.The long-standing issue of transfer and removal of electric lights at the upcoming ROB of Bassi was discussed in the meeting and for this and putting the streets lights, Rs 2 crore sanction was given in the meeting.For Hathi Gaon project too, the financial sanction of Rs 3.68 crores was given. A few weeks back, the responsibility of development of infrastructure of this place had been given to JDA.The officials of JDA informed that they will be doing improvement works in Hathi Gaon, which houses a large number of elephants.Approval of funds for other works like maintenance and running of STP plant at Jawahar Circle and Ramniwas Garden was also given during the meeting. JDA officials gave the financial sanction of Rs 48 lakhs for these 1 mld capacity STP.THE WORKSSanction of Rs 5 crores for Silver Park Phase 2 is given in the meeting held on Wednesday
For Hathi Gaon project too, the financial sanction of Rs 3.68 crores is given
Rs 2 cr are sanctioned for the issue of transfer of electric lights at the upcoming ROB of Bassi was discussed
Approval of funds maintenance and running of STP plant at Jawahar Circle and Ramniwas Garden was also given

GST effect: Pending real estate EMIs to be paid under new tax

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Your EMIs of the flats will go up from coming month after the implementation of GST from July. The cost of the flats will also rise with the change in the tax structure. Financial experts inform that currently in the real estate sector when a house is bought by the consumer, they pay service tax of 4.5 per cent. Under GST regime, the real estate sector has been put under 12 per cent bracket.This means that instead of paying 4.5 per cent tax, the consumer will have to pay 12 per cent which means a rise of 7.5 per cent.The consumers who do not pay the whole amount together and choose the option of paying it in monthly installment also pay service tax. This will also get converted to GST, informed the experts.Since the change in tax structure in the EMI’s and costing of the flats will affect a large number of people, Rajasthan Housing Board (RHB) has informed its allottees about the change in tax structure. In a notice issued by housing board, the consumer’s have been informed that from the date of implementation of GST, all the amounts which are due will have to be paid as per the GST law only.There is yet one more provision under the GST, the penal interest from allottees of housing board will now be charged GST at the rate of 18 per cent, which was not there earlier. All the builders charge 4.5 per cent of service tax and will now switch to 12 per cent tax structure.Though a section of financial experts are claiming that the GST will bring relief for the real estate sector as many other taxes on the various commodities utilised in the industry will be gone and only one tax will remain.

Kiren Bedi urges Center to set up probe agency in Puducherry

<!– /11440465/Dna_Article_Middle_300x250_BTF –> Puducherry Lieutenant Governor Kiran Bedi on Wednesday asked the Center to constitute independent investigation and vigilance agency following a surge in investment. Taking to Twitter, Bedi drew the attention of both President Pranab Mukherjee and Prime Minister Narendra Modi to the issue. ?Puducherry is seeing a surge in investmt.To ensure Fin/ADM integrity it urgently needs a brch of HC,CBI,Indp CVO @RashtrapatiBhvn @PMOIndia,? she tweeted. Posting few reports published in the leading daily, Bedi stated that a union territory is the responsibility of the Center and it must get social audits of its administration and financial management. ?A UT is a responsibility of the Central Govt even if it has an elected assembly. GOI must get social audits of ts ADM & FinancialManagement,? she added. Recently, the former IPS officer had stated that her office had written to the Central Bureau of Investigation (CBI) demanding a probe into the alleged scam in the admission of post-graduate students under the government quota in the union territory. Bedi also urged to constitute a bench of Madras High Court in the region to deal with public interest litigations (PILs) and other issues.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Mizoram govt to hold political level talks with HPC (D)

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The peace talks between Mizoram government and the Hmar People’s Convention (Democratic) scheduled to be held during July is most likely to be elevated to political level talks from the present official level talks, a senior state Home department official today said. The official said that four rounds of talks held since August 10 last year were held under cordial atmosphere and mutual trusts and had proceeded fast towards reaching an amicable settlement to the vexed Hmar imbroglio. The ongoing talks had revolved around deliberations on the autonomy and functions to be accorded to the Sinlung Hills Development Council (SHDC) which is most likely to be renamed as Sinlung Hills Council (SHC). Financial allocation for rehabilitation and resettlement of HPC (D) cadres once they came over ground with arms had reportedly been approved by the state Finance department. The HPC (D), earlier demanded a separate autonomous district council in Mizoram by carving our the areas in the north eastern part of the state adjoining Manipur. The outfit, earlier, did not accept the formation of SHDC, constituted following the agreement signed between the state government and the erstwhile underground HPC in 1994 and went underground again soon after the surrender of arms by the HPC militants.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Village headman’s body found hanging from tree, suicide

<!– /11440465/Dna_Article_Middle_300x250_BTF –>A village headman allegedly committed suicide by hanging himself from a tree as he was facing financial crunch, the police said. The body of Bharat Singh (45), village head of Kudauli in Bisauli area was found this morning hanging from a tree, SP, Rural, Surendra Pratap Singh said. The family members told the police that he was tense as he was finding it difficult to repay a loan taken for the marriage of his daughter. The victim has seven children and his financial condition was poor, Singh said adding that ‘prima facie’ it appeared to be a case of suicide.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Chinese lawmakers stress solemnity of national anthem

<!– /11440465/Dna_Article_Middle_300x250_BTF –>China’s lawmakers today deliberated a draft law on the national anthem, stipulating that it should be played during major diplomatic and sports events. Zhang Dejiang, chairman of the Standing Committee of China’s National People’s Congress (NPC), joined the deliberation. A draft was submitted to the NPC Standing Committee for the first reading at the start of its bi-monthly session, which runs until Tuesday. Legislating for the national anthem will be conducive to enhancing citizens’ patriotism and upholding national dignity, said Huang Qifan, vice chairman of the NPC Financial and Economic Affairs Committee. The national anthem should be played or sung at the opening sessions and closing sessions of the NPC and local people’s congresses at all levels, and that of national committee and local committees of Chinese People’s Political Consultative Conference, constitutional oath ceremonies, as well as flag raising ceremonies, major celebrations, awards ceremonies, commemorations and national memorial day events held by governments at all levels. Important diplomatic activities, major sports activities and other proper events should also play the national anthem, the draft said. Zheng Gongcheng, a member of the NPC Standing Committee, said that opening and graduation ceremonies at schools should be added to the clause. The national anthem should be included in music textbooks for first-grade students at primary schools, according to the draft. Su Hui, another member of the committee, suggested that the song should be an important part of kindergarten education. According to the draft, those who maliciously modify the lyrics or play or sing the national anthem in a distorted or disrespectful way may face detention for up to 15 days. Sun Zhijun, a member of the committee, suggested that cases of gross violation shall be investigated for criminal responsibility, as the similar clause has been listed in the country’s national flag law and national emblem law.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

PM Modi reviews status of GST

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Prime Minister Narendra Modi, on Monday reviewed the status of GST, which is to be implemented from July 1 at a meeting attended by Finance Minister Arun Jaitley, and top-most officials from the Ministry of Finance, PMO and the Cabinet Secretary.He later called all Secretaries — topmost officers of Ministries — making a strong pitch to rise above the “administrative mechanisms of earlier centuries”, and make the advent of GST a turning point in the country’s history. He asked them to proactively prepare for this transformation, to ensure a smooth transition.Those who attended the meeting said the PM exhorted the top officials to work beyond the silos of their respective Ministries for the development of the country.Giving examples such as Financial Inclusion (Jan Dhan Yojana) and Universal Immunization (Mission Indradhanush), the Prime Minister said that some of the best results in the last three years had been achieved when the entire Government machinery worked in unison, as a team.He also called for a mission mode approach to the 100 most backward districts in India. He said specific goals should be set on various parameters in definite short timeframes for these districts.The PM also reviewed aspects of implementation such as IT readiness, HR readiness, training and sensitization of officers, query handling mechanism, and monitoring of GST. He was informed that GST systems such as IT infrastructure, training of officials, integration with banks, and enrolment of existing taxpayers will be in readiness well in time for the July 1 implementation date. Information security systems were discussed in detail.A Twitter handle — @askGst_GOI has been started for real time answering of queries. An All India toll-free phone 1800-1200-232 has also been activated for this purpose.

Hry Cabinet approves rule to protect interest of depositors

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Haryana cabinet today gave its nod to the rules for implementation of the Haryana Protection of Interest of Depositors (in Financial Establishment) Act, 2013 to protect the depositors from being duped by different ponzi schemes. The main purpose of the rules is to facilitate the implementation of the Act under which it will be ensured that the depositors are not duped by different ponzi schemes through fraudulent practices and measures, an official statement said here today. The Act provide for penal provisions for promoters of financial establishment defaulting in repayment of deposits and interest thereof. Great stress has been laid by the Reserve Bank of India on framing of rules under the Act to ensure that the provisions of the Act are given effect through proper administrative machinery, the release said. The Cabinet, led by Chief Minister Manohar Lal Khattar, also approved the Gurugram Metropolitan Development Authority (GMDA) ordinance, which aims at sustained and balanced growth of Gurugram metropolitan area. Also, it approved the amendment in Rule 42 of the Haryana Value Added Tax Rules, 2003, to facilitate speedy disposal of refund files and enhance ease of doing business in the state. As per the approved rules of Haryana Protection of Interest of Depositors (in Financial Establishment) Act, 2013, eEvery financial establishment which commences or carries on its business as such in the state on the date of notification of these rules would make a report to the District Magistrate (DM) and the Superintendent of Police (SP) of the district in Form-I within a period of 15 days. Every financial establishment which has been carrying on business as such prior to the date of notification of these rules would make such report to the DM and the SP of the district in Form-I within a period of 15 days. The competent authority may examine the complainant and the witnesses, if any, or any person or office-bearer or employee of financial establishment who, in his opinion, would be able to give any information about the financial establishment in respect of which an order of attachment has been made by the DM and such examination would be recorded in writing. On receiving a complaint under the Act, the DM would forward it to the government within a period of one month. As per amendments to the Haryana Value Added Tax Rules, 2003, now refunds up to Rs 50 lakh arising in a single order, will not be required to be taken up at the headquarters level as would be allowed at the district or the range levels. Also, a committee comprising three senior most Additional Excise and Taxation Commissioners posted at the headquarters will be set up. The committee will be competent to allow refund arising from a single order of the amount above Rs 50 lakh. As per the Gurugram Metropolitan Development Authority (GMDA) ordinance, 2017 the Gurugram metropolitan area would be developed in a sustained and balanced manner by providing quality of life and reasonable standard of living to the residents through generation of employment opportunities. The ordinance seeks to provide for integrated and coordinated planning, infrastructure development and provision of urban amenities, mobility management, sustainable management of urban environment, and social, economic and industrial development, the release said. Under the ordinance, the state government may, by notification, declare any area falling within the limits of controlled areas in Gurugram district to be notified area, having the potential for urban expansion. The Chief Minister will be Chairperson of the Authority. Apart from this, there will be a Residents Advisory Council to advise the Authority and provide guidance on the exercise of its powers and performance of its functions. The Residents Advisory Council will consist of Chief Executive Officer, who will preside over its meeting, and other members. The Council will monitor implementation of the annual plan of action for infrastructure development, mobility management plan, and plan for sustainable management of urban environment and make such recommendations. These recommendations, along with an explanatory memorandum of the action taken or proposed to be taken, will be placed by the Chief Executive Officer before the Authority. The Authority may recommend to the state government to acquire land for the purposes of the Authority and purchase, exchange, transfer, hold, lease, manage and dispose of land. Also, the Authority may acquire land for implementation of plans for infrastructure development and sustainable management of the urban environment, in exchange for transferable development rights issued in lieu of payment towards cost of land in such manner and for such exchange value as the Authority may, in accordance with the policy in this regard notified by the state government, determine.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Panel recommended to probe ‘irregularities’ in scouts bodies

<!– /11440465/Dna_Article_Middle_300x250_BTF –>A high-level committee under the Youth Affairs Ministry has recommended setting up of a panel to probe alleged irregularities, including financial ones, in two scouts and guides’ bodies, the Centre today said. “Several complaints had been received about the Bharat Scouts and Guides and the Hindustan Scouts and Guides, from lack of transparency in financial management to leakage of question papers related to exams. “So, we had set up a high-level committee last October to look into those complaints. The committee has submitted its final report today,” Youth Affairs Minister Vijay Goel told reporters here. He said the first interim report was submitted to the ministry on January 31, and the committee has now recommended setting up of an inquiry panel to probe these alleged anomalies and irregularities. “The committee has suggested some important changes that will make these two scouts bodies better by making them more accountable,” Goel said. “Financial irregularities, management and administrative issues have had a huge impact on these organisations. So, an overhaul is required. And, this panel would help us in doing that,” he added. Bharat Scouts and Guides, traces its origin to the year, 1909, and the Hindustan Scouts and Guides is also nearly a century-old. According to the ministry officials, Bharat Scouts and Guides has about 68 lakh members, nationwide and “both bodies receive Rs 75 lakh as grant from the Centre per year”. “Besides, they get funds from respective state governments as well as though the membership fee,” an official said. Goel said these two scouts bodies have played important roles in building discipline and work ethics among the youth and hence, they need to be restructured, so they can also contribute in spreading awareness about the government’s programmes. The youth affairs minister also said that the category involving members below five years of age would be scrapped.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Kerala’s all-women pongala fest gives fresh hopes to homeless

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Lakh of bricks, abandoned by devotees after annual “Attukal Pongala”, one of world’s largest all-women religious event, will soon turn out to be construction material for homeless people here. Women from various parts of the state and outside used to prepare ‘pongala’ (a mix of rice, jaggery and coconut) in fresh earthen or metal pots as an offering to Attukal Devi, the presiding deity of the temple, in makeshift brick stoves. The ritual is performed by lining up on either side of the roads in the city and its suburbs. The line used to go up to seven km radius of the city. The city corporation has come out with an innovative initiative to collect and reuse the bricks left over by devotees, to construct budget houses for poor. Corporation sources here said, the devotes abandon several lakh of bricks after ‘pongala’ every year across the city and it would be used for the construction purpose from next year under the state government’s ambitious LIFE programme. “Project LIFE” (Livelihood, Inclusion, Financial Empowerment) envisages to make Kerala a zero-homeless state by providing home for homeless. Thiruvananthapuram mayor V K Prasanth said the project would not only help poor to realise their life-long dream of building a house of their own but also keep the city clean after the mass religious fest. “The city will be full of waste and bricks after every pongala fest. Corporation staff used to launch a massive cleaning drive soon after the ritual is over,” Prasanth told(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

DNA Evening Must Reads: Crisis averted in AAP, $770 billion black money entered India in 2005-2014, BJP legislator spams official WhatsApp group with…

<!– /11440465/Dna_Article_Middle_300x250_BTF –>1). Crisis averted in AAP: Kumar Vishwas made Rajasthan in-charge; Amanatullah Khan suspended Amid speculations of Kumar Vishwas quitting Aam Aadmi Party(AAP), the Political Affairs Committee (PAC) on Wednesday suspended its Okhla MLA Amanatullah Khan and made a decision to give Vishwas a greater responsibility ahead of Rajasthan assembly polls. Read more here.2). $770 billion black money entered India in 2005-2014: Report by Global Financial IntegrityIndia currently has no official estimates on the amount of black money in the country and abroad. Read more here.3).Soldiers mutilation: Blood samples prove killers returned to Pakistan after attackIndian summonned Pakistan High Commissioner Abdul Basit and demanded action against Pakistani soldiers for barbaric act of mutilation of the bodies of two Indian soldiers. Read more here. 4).Ramdev’s institute to lead to wider acceptance of ayurveda: PM Narendra ModiPrime Minister Narendra Modi today rued that successive governments had sought to forget India’s traditional medicinal systems instead of promoting them. Read more here. 5).Forward gone wrong: Karnataka legislator spams official WhatsApp group with pornA BJP legislator from Karnataka allegedly posted 50 pornographic images on a WhatsApp group that comprised lawmakers, councillors and senior officers as its members. Read more here.

Haryana to take action against erring chit fund cos

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Haryana government has decided to take strict action against chit fund companies which fail to get themselves registered under the Haryana Protection of Interests of Depositors in Financial Establishment Act, 2013. This was disclosed by P Raghavendra Rao, the additional chief secretary, finance and planning department, at a video conference held with all commissioners, additional deputy commissioners and officers in the offices of lead district managers and other departments, here today. Rao directed the officers concerned to initiate strict against those chit fund companies which lure depositors by offering interest on deposits and other benefits and later disappear with the money overnight. Officers of the Police Department were told to initiate legal action against such companies. “Strict action will also be taken against companies which violate the rules of the Act,” he added.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Microfinance organisation Grameen Koota receives ISC-FICCI 2017 Sanitation Award

Naina Lal Kidwai, Chairperson of India Sanitation Coalition, Sanjeev Mehta, CEO and MD of Hindustan Unilever, Swami Chidanand Saraswati, Founder of Global Interfaith WASH Alliance, Diwakar B R, CFO, Grameen Koota and Anshul Sharan, Head ? <!– /11440465/Dna_Article_Middle_300x250_BTF –>New Delhi India, Apr 28 (ANI-BusinessWire India): Grameen Koota, a Bengaluru-based microfinance organisation on Thursday received the ISC-FICCI 2017 award for Best Financial Accessibility for Sanitation for its efforts in providing access to affordable credit to its customers to build toilets. Grameen Koota Director Sumit Kumar received the award from the Union Minister for Railways, Suresh P. Prabhu at a ceremony during the India Sanitation Conclave 2017 held in New Delhi. Naina Lal Kidwai, Chairperson of India Sanitation Coalition, Sanjeev Mehta, CEO and MD of Hindustan Unilever, Swami Chidanand Saraswati, Founder of Global Interfaith WASH Alliance, Diwakar B R, CFO, Grameen Koota and Anshul Sharan, Head ? Strategy, Grameen Koota were present at the ceremony. In its award citation, the India Sanitation Coalition (ISC) said: ?Grameen Koota has been recognised for increasing financial accessibility in rural Karnataka and Maharashtra through their three-pronged approach – Creating awareness among people in their operational areas, imparting training on various aspects of sanitation and providing access to affordable credit for toilet construction to needy Grameen Koota customers.? ?It is indeed a great honour and even greater encouragement to receive this Award for Best Financial Accessibility for Sanitation from ISC-FICCI. The award makes us and our program partners proud to be associated with our work and we reiterate our commitment to carry forward our mission against open defecation,? said Udaya Kumar, Managing Director and CEO of Grameen Koota. ?We are privileged to have been conferred with the great honour for our efforts towards achieving total sanitation and our alignment with Swachh Bharath Abhiyaan of Government of India. We have also taken a pledge to make all our customers free from open-defecation by October 2, 2019, on the occasion of Mahatma Gandhi?s 150th birth anniversary,? added Vinatha M. Reddy, Chairperson of Grameen Koota. With about half of the country still defecating in the open, the nation has a mammoth task ahead to make the nation Open Defecation Free (ODF) by 2019. The Sanitation Awards, initiated this year by ISC, aim at identifying and recognising the efforts of stakeholders in this drive, including implementation partners, corporates, financial institutions and entrepreneurs among others. (ANI-BusinessWire India) Ends SN NNNN ANI(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Railways: FC’s objections can no longer delay projects

<!– /11440465/Dna_Article_Middle_300x250_BTF –>To avoid delay in railway projects, the Chairman of the Railway Board (CRB) and zonal general managers (GMs) have now been given powers to overrule any technical objections raised by the finance wing. The CRB can now take the final decision on projects in case a difference of opinion arises between the Financial Commissioner (FC) and other board members, according to a recent order issued by the Railway Board. The Financial Commissioner is the top-most authority in the Railways to manage finances. The move is in line with the recommendations made E Sreedharan committee constituted by Railway Minister Suresh Prabhu in November 2014 with a view to find ways to delegate tendering and commercial powers to the executive. The committee’s report was submitted in March 2015. It is a step towards ensuring that key rail projects are not slowed down by technical objections raised by the finance wing, said a senior Railway Ministry official. “In the event of a difference of opinion between the Financial Commissioner and other members of the Railway Board, the members may bring such cases to the notice of the CRB bringing out financial observations and detailed remarks thereon. The CRB will have full powers to take the final decision by recording a reasoned order,” said the order issued by Railway Board Secretary RK Verma. The step is expected to check incidences where objections raised by the FC and the ensuing arduous exercise of getting clearance were cited for delay in project implementation. The new rule will also be applicable at the zonal level where the GMs will have the final say in case of differences among financial advisers and other executives. “It will help in fixing accountability and make executives responsible for their decisions,” the official said.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Mumbai IFSC to complement Gujarat’s GiftCity: Mahajan

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The proposed International Financial Services Centre (IFSC) in Mumbai will complement the already operational GiftCity in Gujarat’s Gandhinagar, an official has said. The process of making a plan and seeking approvals for the IFSC is already underway and it will take a decade to build the centre, Poonam Mahajan, the deputy chairperson of a task force appointed by the state for the purpose, told(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Housing project to cover 1 lakh people in first year:Kerala CM

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Nearly one lakh homeless people in Kerala would be covered under an ambitious state government project to build apartment complexes during the first year of its implementation. A decision to start work on ‘Project LIFE’ in select districts and provide homes to one lakh people in the first year, was taken at a review meeting convened by Chief Minister Pinarayi Vijayan, an official release said here today. Announced last year, ‘Project LIFE’ (Livelihood, Inclusion, Financial Empowerment) envisages not only a roof for those who do not have houses, but also a complete rehabilitation package, expected to benefit over 4.70 lakh families. The meeting asked institutions and individuals to contribute to the project, the release said. Government land would be considered for the project in the initial stage and number of houses in each districts would be decided based on the availability of land, it said. Beneficiaries would be finalised based on eight parameters, it added. In the first phase, it would come up in 14 locations. Under the programme, a string of model residential complexes, where a large number of people can be accommodated, will be constructed in select locations. The state government zeroed in on the housing complexes instead of building individual houses due to shortage of land and high density of population. The LIFE complexes would have all basic amenities ranging from power supply, drinking water, sanitation facilities, cooking gas, bio-metric-controlled entrances, security systems, solar panel roofs besides creche, palliative care units and skill training centres.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Jain proposes changes in hiring consultant architects

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Delhi government plans to change the method to pick consultant architects for its projects but the public works and finance departments have objected saying the proposed changes would hit “fairness” and encourage favouritism. It is learnt that PWD Minister Satyender Jain has proposed to abolish the widely used (Quality and Cost-Based Selection) system and also cap the number of projects that can be awarded to a particular agency. The proposal seeks to do away with the financial bid aspect and give entire weightage to quality. “Left to quality based selection of consultant for construction projects, it is nearly certain that the practice will quickly deteriorate into pick and choose policy, compromising fairness and giving rise to controversy and complaints,” a PWD department note said. Under the existing guidelines, while awarding architectural consultancy work, which is the first stage of executing any project, 70 per cent weightage is given to quality and 30 per cent to cost. Also, the existing consultancy rates prevalent in PWD are in the range of 0.18 to 1.52 per cent of the project cost while Jain’s proposal pegs it at a flat 2 per cent which has been described as “arbitrary” and on the “higher side”. Government sources said the officials of the PWD as well as the Finance Department objected to the proposal saying it would lead to losses to the public exchequer and deterioration in the quality of work as “subjectivity” would creep in while awarding work. In its note, the PWD department wrote that financial bid brings fairness in decision making process. “By doing away with the financial clause, one would not know the real cost of performing the work and it would not be in tune with the market,” a senior official said.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

CBDT lays out mandatory quoting of Aadhaar; includes PAN applications,

<!– /11440465/Dna_Article_Middle_300x250_BTF –> The Central Board of Direct Taxes on Wednesday notified that under the Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides the mandatory quoting of Aadhaar or Enrolment ID of Aadhaar application form for filing of return of income and for making an application for allotment of Permanent Account Number with effect from 1st July, 2017. The CBDT in its notification clarified that such mandatory quoting of Aadhaar or Enrolment ID shall apply only to a person who is eligible to obtain Aadhaar number. As per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, only a resident individual is entitled to obtain Aadhaar. However, the residents as per the said Act means an individual who has resided in India for a period or periods amounting in all to one hundred and eighty-two days or more in the twelve months immediately preceding the date of application for enrolment. Accordingly, the requirement to quote Aadhaar as per section 139AA of the Income-tax Act shall not apply to an individual who is not a resident as per the Aadhaar Act, 2016.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

All you need to know about Chenani-Nashri, India’s longest road tunnel

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Prime Minister Narendra Modi on Sunday inaugurated the country’s longest road tunnel that links Kashmir Valley with Jammu by an all-weather route and reduces the distance by 31 kms. The 9-km long ‘Chenani Nashri Tunnel’, built at the cost of Rs 2,500 crore, was dedicated to the nation by the Prime Minister here in presence of Jammu and Kashmir Governor N N Vohra and Chief Minister Mehbooba Mufti.After the inauguration, Modi, along with Vohra and Mehbooba, travelled in an open jeep through the tunnel for some distance. The tunnel, bypassing snow-bound upper reaches, will reduce the journey time by two hours and provide a safe, all- weather route to commuters travelling from Jammu and Udhampur to Ramban, Banihal and Srinagar. Key features of the tunnel:⇒ It is a single-tube bi-directional tunnel, with a 9.35 metre carriageway, and a vertical clearance of 5 metres.⇒ There is also a parallel escape tunnel, with “Cross Passages” connecting to the main tunnel at intervals of 300 metres.⇒ It also has smart features such as an Integrated Traffic Control System; Surveillance, Ventilation and Broadcast Systems; Fire Fighting System; and SOS call-boxes at every 150 metres.⇒ The estimated daily fuel savings are to the tune of Rs. 27 lakhs.⇒ The tunnel is equipped with world-class security systems, and is expected to boost tourism and economic activities in the State of Jammu and Kashmir.⇒ The tunnel, built at the cost of Rs 2,500 crore in a record time of 5 and a half years by Infrastructure Leasing & Financial Services (IL&FS) Ltd, is located at an altitude of 1,200 metres (nearly 4,000 feet) in difficult Himalayan terrain.With PTI inputs.

Pak terror groups thriving on crime, money laundering Report

<!– /11440465/Dna_Article_Middle_300x250_BTF –> A new government report obtained by the Pakistani media has revealed that the major source of funding for terror and extremist groups in the country is crime including extortion, smuggling and kidnapping for ransom. The report by the Financial Monitoring Unit (FMU) in Pakistan titled “National Risk Assessment on Money Laundering and Terrorism Financing 2017? reportedly details how terror groups generate funds through criminal activities. The News reported that the first of its kind report was planned to share with the World Bank (WB), the Financial Action Task Force (FATF) and Asia Pacific Group (APG) of Money Laundering. A team of assessors of all the stakeholders under the supervision of the FMU compiled the report, which revealed that Pakistan was short of adequate resources, skills and manpower to sufficiently take into account money laundering and terrorism financing. ?Annual operational budget of these terrorist organisations is from Rs 5 million to Rs 25 million. Average cost of operation per terror incident varies from Rs 0.5 million to Rs2.5 million depending on magnitude of incident,? the 45-page confidential report revealed. ?Main sources of income of terrorists in Pakistan include foreign funding, drug trafficking, kidnapping for ransom, extortion from business, vehicle snatching, ?hawala/hundi?, cash couriers, dealings in foreign exchange, contraband items in Fata and sale of items looted from Nato/ISAF containers,? the report added. On terrorism financing risks, the FMU in its report revealed that unrest in the Gulf led to mushrooming of extremist movements and militant organisation as the terrorists from hostile neighboring countries are expanding proxy war in Pakistan. Most preferred foreign destinations for parking billions of rupees and laundered money are the UAE, UK and USA followed by the South-Eastern countries. Pakistan on request of the World Bank decided to carry out this national risk assessment exercise on money laundering and terror financing in 2015-2016. For this purpose, Islamabad formed a national team, which used the National Risk Assessment tool of the World Bank where the FMU also engaged Federal Investigation Agency, Security Exchange Commission of Pakistan, National Accountability Bureau, Anti-Narcotics Force, State Bank of Pakistan, Federal Board of Revenue and Ministry of Commerce. According to the report, sense of money laundering threat alarmed the regulators when they seized an estimated Rs. six billion in past three years where the FIA, NAB, ANF, law enforcement agencies, Currency Declaration Units, SBP and FMU registered/investigated around 8,100 cases/complaints. In money laundering trends, the regulators noted in the report that corruption was identified as major predicate offence while smuggling, drug trafficking, cheating and fraud, tax frauds, kidnapping for ransom and extortion remained additional factors. Officials revealed that only one of 256 filed key cases of money laundering was decided by the courts in the last three years, adding that teams seized estimated Rs. four billion during this period. The regulators arrested some 491 of total 664 accused involved in crimes of money laundering while special teams, under the National Action Plan, arrested 848 accused involved in money laundering, ?hawala and hundi? and illegal money changing during this period. The teams under the NAP also seized Rs. 851 million since January 2015. Some of proscribed organisations are reportedly generating millions of dollars annually to conduct their operations within and outside the country. Among them the Tehrik-i-Taliban Pakistan, Lashkar-e-Taiba, Lashkar-e-Jhangvi and Sipa-e-Mohammad are taking the lead.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Icra cuts Janalakshmi Financial’s outlook to negative

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Rating agency Icra today cut the long term rating outlook of Janalakshmi Financial Services to negative from stable due to deterioration of its collection efficiency after demonetisation. It reaffirmed the A+ rating for the Rs 1,300 crore long term bank facilities, Rs 3,966 crore non-convertible debenture programme and Rs 751 crore subordinated debt programme of the microfinancier. The rating agency also reaffirmed the rating of A1+ to the Rs 900 crore commercial paper programme of the company. “The revision in outlook factors in the adverse impact of demonetisation on JFSL s asset quality with overall collections efficiency affected by the limited currency supply, disruption in borrower cash flows, and political intervention in certain states namely, Uttar Pradesh, Maharashtra and Madhya Pradesh,” the rating agency said in a note today. The company s collection efficiency dipped from about 98 per cent in September 2016 to 78 per cent in January 2017. Consequently, it’s 30+ dpd (days past due) and 60+ dpd increased from 1 per cent and 0.7 per cent respectively as on September 30, 2016 to 12.9 per cent and 1.3 per cent as on December 31, 2016 and further to 22.6 per cent and 11 per cent as on January 31, 2017. It said while some states, namely Uttar Pradesh and Rajasthan, witnessed a marginal reduction in overdues post December 2016, Tamil Nadu and West Bengal, which constituted 25.2 per cent of the total portfolio as on January 31, 2017 registered a sharp decline in collection efficiency post December 2016. Icra said the company may have to provide for loan losses for some of the delinquent loans, which would exert pressure on the capitalisation and profitability in the near term. The extent of the impact on the company s overall credit risk profile would be a key rating consideration in the near term, it said.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Govt asks RBI to link FCRA a/c with PFMS for easy monitoring

<!– /11440465/Dna_Article_Middle_300x250_BTF –>All FCRA accounts of the NGOs will soon be connected with an online banking system for easy access and monitoring by the government, Rajya Sabha was informed today. Minister of State for Home Kiren Rijiju said the Home Ministry had requested the Reserve Bank of India to integrate FCRA accounts with Public Financial Management System (PFMS). This will enable the Ministry to monitor the receipt and utilisation of foreign contribution credited in such bank accounts, he said in a written reply.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Major bureaucratic reshuffle in central government

<!– /11440465/Dna_Article_Middle_300x250_BTF –>As many as 16 Joint Secretaries have been appointed in different central government departments as part of mid-level bureaucratic reshuffle effected today. Of the total bureaucrats, only six are from Indian Administrative Service (IAS) and rest from other central services like Indian Revenue Service (IRS) and Indian Information Service (IIS), among others. Anita Karwal, a 1988 batch IAS officer of Gujarat cadre, has been appointed Joint Secretary in Department of School Education and Literacy. Shri Prakash, an officer of Central Secretariat Service, will be JS in Home Ministry, an order issued by Personnel Ministry said. Aparna S Sharma, also from the same service, will be JS, Department of Chemicals and Petrochemicals. Mihir K Singh has been moved out of Information and Broadcasting Ministry and appointed as JS in Department of Animal Husbandry, Dairying and Fisheries. He is a Bihar cadre IAS officer. Ashok K R Parmar, will be new JS in I and B Ministry in place of Singh. Parmar is a 1992 batch IAS officer of Jammu and Kashmir cadre. Manoj K Pingua has also been appointed JS in the same ministry. He is at present Joint Secretary, Ministry of Tribal Affairs. U Venkateswarlu, a 1986 batch IAS officer of Tripura cadre, has been appointed JS, Department of Social Justice and Empowerment. He is at present Financial Commissioner, Employee’s State Insurance Corporation (ESIC) under the Ministry of Labour and Employment. Sandhya Shukla, an officer of Indian Audit and Accounts Service, will be new Financial Commissioner, ESIC. Venudhar Reddy Nukala, an IIS officer, has been appointed as JS, Department of Investment and Public Asset Management. IRS officer Ruby Srivastava will be Director (Finance), Nuclear Power Corporation of India Ltd. Niva Singh and Vandita Kaul will be Joint Secretaries in Ministry of Minority Affairs and Department of Financial Services, respectively. Raman Kant Mishra, an officer of Indian Forest Service, has been named as Additional Director General, National Museum under the Ministry of Culture. Chandrakar Bharti, will be JS, Department of Defence Production.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Union Minister reviews performance of Central, Konkan Railway

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Union Minister Rajen Gohain today today reviewed the performance of Central, Western and Konkan Railway. The Minister of State for Railways was given a guard of honour by the RPF contingent at the foyer of Chhatrapati Shivaji Terminus, a senior official said. “Gohain held a meeting with the Central Railway (CR) General Manager D K Sharma and other senior officials. Divisional Railway Managers of the other four CR divisions joined the meeting via video conferencing,” he said. The Minister also reviewed various projects being undertaken by the Ministry in CR, Western Railway and Konkan Railway, said the official. Later, Gohain visited Konkan Railway headquarters in Navi Mumbai and reviewed its performance in a meeting attended by Konkan Railway CMD Sanjay Gupta. During the meeting Gohain briefed the vision and mission of Railways Minister Suresh Prabhu for socioeconomic development of Konkan Region, an official statement said. The Minister reviewed the performance of Konkan Railway with respect to safety in train operation, security of passenger, passenger amenities, punctuality, Financial Progress and others, it said.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Maha could spend only 45% of budgetary allocation in FY17: CM

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Maharashtra Government could spend only 45% of total Budgetary allocation made for fiscal 2017 as the model code of conduct was in force for four months in entire year, Chief Minister Devendra Fadnavis said today. “There was a model code of conduct in effect for four months in entire Maharashtra in whole year, hence the state (government) could spend only 45% of its budgetary allocation for the financial year 2016-17,” Fadnavis told(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Govt campaign helps in curbing farmers’ suicides in Yavatmal

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Over 34,000 families in various villages here have been provided financial assistance under a government-sponsored campaign which has helped in checking incidents of farmers’ suicides in the district. The ‘Baliraja Chetna Abhiyan’ is being carried out successfully in the district and has helped in curbing the farmers’ suicides to a great extent, Yavatmal Collector Sachindra Pratap Singh said yesterday. The campaign was launched in August 2015 as a part of the Chief Minister’s announcement to stop farmers from taking the extreme step in Yavatmal and Osmanabad districts of Maharashtra. Under the campaign, financial assistance has been provided to 34,596 families of farmers in 1,848 villages across Yavatmal during the current financial year, a release issued by the district administration said. The samitis formed in various villages as part of the campaign have distributed a total of Rs 25 lakh during this financial year to nearly 250 cancer patients among the families of farmers, the release said. “The fund is made available from the donations received from philanthropists in the district,” campaign director and Resident Deputy Collector Rajesh Khawale said. Under the campaign, the needy farmers are given loan to the extent of Rs 5,000 without any interest for the purpose of sowing and medical treatment, Khawale said. Financial assistance is also being provided to needy students for their high education and for organising mass marriages of daughters of farmers in the district, he said. “We are monitoring the campaign closely and a special team of nodal officers has been appointed to check its implementation,” Singh said. The nodal officers arrange regular meetings in the villages and try to resolve the issues of farmers there itself, he added. Notably, Maharashtra Chief Minister Devendra Fadnavis had said in December last year that the BJP-led state government succeeded in curbing the farmers’ suicides by nearly 40 per cent in the worst-affected Yavatmal district of Vidarbha with the help of ‘Baliraja Chetna Abhiyan’. “Our efforts will not cease till we ensure that not a single farmer takes the extreme step,” Fadnavis had then said.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

JK panel for ending ‘illegal possession’ of state guest houses

<!– /11440465/Dna_Article_Middle_300x250_BTF –>A legislative council panel has asked the Jammu and Kashmir government to take measures for proper upkeep and retrieval of the assets of state guest houses across the country. An official spokesman said, the Departmental Related Standing Committee of Legislative Council reviewed the status of assets and facilities available at the government guest houses in New Delhi, Mumbai, Chandigarh and Amritsar. The panel, which met here under the chairmanship of MLC Bashir Ahmad Shah Veeri, called for retrieval of the properties from “illegal possession” of private parties. The Committee deliberated on various issues related to the functioning of the guest houses and sought details on measures initiated for retrieving the “occupied” properties. Legislators, Saif-ud-Din Bhat, Ramesh Arora, Qaisar Jamsheed Lone, Jugal Kishore Sharma, Sham Lal Bhagat and Sofi Yousuf were also present in the meeting and shared their viewpoints. The Committee impressed upon the Hospitality and Protocol Department to take all necessary steps for improvement and renovation of infrastructure, proper upkeep of facilities at the guest houses, the spokesman said. The Committee urged the Law Secretary to hire the services of senior and reputed lawyers to defend court cases related to these properties– worth crores of rupees. It also directed for a review of the lease case of the land at Mumbai with some private parties and apprise the committee on its status. Financial Commissioner, Planning and Development, B B Vyas briefed the Committee about the status of properties outside the state, besides presenting status of court cases at Amritsar, Chandigarh and Mumbai.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Artprice’s 2016 Global Art Market Annual Report: a Genuine

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Alternative to Financial Markets, with China in First Place (Attn.editors: The following press release comes to you under an arrangement with PRNewswire-AsiaNet.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

CM files plea in HC, seeks Arun Jaitley’s financial details

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Following a defamation case filed against him by Union Finance Minister Arun Jaitley, Chief Minister Arvind Kejriwal on Saturday filed a plea in the Delhi High Court (HC), seeking details regarding Jaitley’s finances. Earlier, the CM had accused the Delhi and District Cricket Association (DDCA), a body that the Finance Minister once headed, of financial irregularities. The two leaders have been at loggerheads since.In his plea to the HC, the CM sought bank account and income tax details of Jaitley, his son, daughter, son-in-law, and wife. As per the plea, Kejriwal asked for “copies of bank statements of all accounts of Arun Jaitley, the plaintiff singly or jointly, along with narration since the financial year 1999-2000 till 2014-15”.He also asked for the “copies of statements of all bank accounts along with narration of entity or entities where Jaitley has direct or indirect ownership or equity shareholding of more than 10 per cent, since the financial year 1999-2000 till 2014-15”, and the “copies of statements of all bank accounts along with narration of entities where the son, daughter, son-in-law, and wife of Jaitley has or has had direct or indirect ownership or equity shareholding of more than 10 per cent since the financial year 1999-2000 till 2014-15”.The CM also sought copies of complete income tax return forms and wealth tax return forms, along with computations of Jaitley since the financial year 1999-2000 till 2014-15.The action comes after a city court directed the Aam Aadmi Party (AAP) leader to face criminal charges in a defamation case.Jaitley had filed the defamation case against Kejriwal and other AAP leaders on December 21, 2015, when the CM accused him of corruption, and sought their prosecution for offences that can entail a punishment of up to two years in jail.In his civil defamation suit in the High Court, Jaitley has sought Rs 10 crore in damages from Kejriwal and the five AAP leaders for issuing “false and defamatory statements” against him and his family in connection with the alleged irregularities at DDCA, when he was its President.Jaitley was the President of the organisation for about 13 years, till 2013. The other AAP leaders made accused by Jaitley are Kumar Vishwas, Sanjay Singh, Raghav Chaddha, Ashutosh, and Deepak Bajpai.

Govt opposes Jairam’s plea against Aadhaar bill as money bill

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Government today opposed in Supreme Court a petition moved by senior Congress leader Jairam Ramesh challenging the Lok Sabha Speaker’s decision to certify the bill on Aadhaar as a money bill on the ground that it covered all constitutional provisions to bring it under the ambit of money bill. Attorney General (AG) Mukul Rohatgi countered the arguments made by senior advocate P Chidambaram, who appeared for Ramesh, and said the Aadhaar bill was certified as money bill to avoid its scrutiny before the Rajya Sabha which does not have any say on a money bill. However, the AG said the Speaker’s decision cannot be challenged in the court and moreover the legislation covered all mandatory requirements under the Constitution to be certified as a money bill as all expenditure on social welfare programmes connected with Aadhaar will be withdrawn from the consolidated fund. Pressing for the scrutiny of the Speaker’s decision to certify the Aadhaar Bill as Money Bill, Chidambaram said it is important to see what can be certified as money bill. A bench, comprising Chief Justice J S Khehar and Justice N V Ramana, which heard the matter at some length, was of the view that the issue raised in the petition was serious. However, it noted in agreement with the submission of AG that the issue involved was pertaining to the withdrawal of money from the consolidated fund. The bench, asked Chidambaram to look into all objections raised by the AG and posted the matter after four weeks, saying it did not want to quickly take a call on the issue. The Aadhaar (Targeted Delivery of Financial & Other Subsidies, Benefits & Services) Bill, 2016 was discussed and passed in the Lok Sabha on March 11 last year. It was then taken up in Rajya Sabha on March 16, where several amendments were made to it. The bill then returned the same evening to Lok Sabha which rejected all amendments proposed by the Upper House and passed it. (more)(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

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