Ayodhya case: Muslim party objects hearing on all days of week, says it can’t be ‘rushed through’

Agencies
August 9, 2019

New Delhi, Aug 8: A Muslim party on Friday objected in the Supreme Court five-days-a-week hearing of the politically sensitive Ram Janmabhoomi-Babri Masjid land dispute case in Ayodhya, saying it will "not be able to assist" the court if the hearing is "rushed through".

The submission was made by senior advocate Rajeev Dhavan, who is appearing for a Muslim party, when the Supreme Court commenced hearing on the fourth day in the case.

Breaking with the tradition, the apex court decided to hear the sensitive case on Friday which is kept kept fresh cases only, along with Monday. As per the apex court's procedures, on Mondays and Fridays, the registry lists before the benches fresh and miscellaneous cases after notice cases.

As the counsel for deity 'Ram Lalla Virajmaan' started advancing its submissions before a five-judge Constitution bench headed by Chief Justice Ranjan Gogoi, Dhavan got up and interjected the proceedings.

"It is not possible to assist the court if it is heard on all days of the week. This is the first appeal and the hearing cannot be rushed in this manner and I am put to torture," he told the bench, also comprising Justices S A Bobde, D Y Chandrachud, Ashok Bhushan and S A Nazeer.

He said the apex court was hearing first appeals after the Allahabad High Court delivered the verdict in the case and the hearing as such cannot be rushed through.

Being a first appeal, documentary evidences have to be studied. Many documents are in Urdu and Sanskrit, which have to be translated, Dhavan said.

The senior lawyer alleged that "perhaps, except Justice Chandrachud, other judges might not have read the judgment (Allahabad High Court's)".

He said that if the court has taken a decision to hear the case on all five days of the week then he might have to leave the case.

"We have taken note of your submissions. We will revert back to you soon," CJI Gogoi said and proceeded with the hearing.

The bench has now started hearing the submissions of senior advocate K Parasaran on behalf of deity Ram Lalla Virajmaan.

The apex court had on Thursday asked the counsel for the deity, which itself has been made a party to the case, as to how the 'Janmasthanam' (birth place of deity) can be regarded as a "juristic person" having stakes as a litigant in the case.

The apex court had said on the third day of the hearing that so far as Hindu deities were concerned, they have been legally treated as juristic person which can hold properties and institute, defend and intervene in lawsuits.

The bench, however, had asked Parasaran as to how 'Janamsthanam' can file the case in the land dispute as a party.

The law suit filed by the deity in the Ayodhya case has also made the birth place of Lord Ram as co-petitioner and has sought claim over the entire 2.77 acre of disputed land at Ayodhya where the structure was razed on December 6, 1992.

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Agencies
May 31,2020

New Delhi, May 31: The income tax department has notified forms for filing income tax returns for the financial year 2019-20.

The Central Board of Direct Taxes (CBDT) has notified Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V for the assessment year 2020-21.

The department has revised the I-T return forms for the financial year 2019-20 to allow assessees to avail benefits of various timeline extension granted by the government following the COVID-19 outbreak.

The government has extended various timelines under the Income Tax Act, 1961, through the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.

Accordingly, the time for making investment or payments for claiming deduction under Chapter-VIA-B of IT Act that include Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim) and 80G (Donations) for the financial year 2019-20 had been extended to June 30, 2020.

ClearTax founder and CEO Archit Gupta said, "The new forms require a separate table to disclose tax saving investment made in the first quarter of 2020 for availing them in FY 2019-20. Taxpayers must assess their tax liability for FY 2019-20 and make sure they are maximising their Section 80C benefits if not already done so."

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Agencies
January 15,2020

Mumbai, Jan 15: The Reserve Bank of India (RBI) on Wednesday redistributed portfolios of Deputy Governors following the appointment of Michael Debabrata Patra to the post.

An official release said that NS Vishwanathan will handle co-ordination, Department of Regulation (DOR), Department of Communication (DoC), Enforcement Department, Inspection Department (ID), Risk Monitoring Department (RMD), and Secretary's Department.

BP Kanungo will look after Department of Currency Management (DCM), Department of External Investments and Operations (DEIO), Department of Government and Bank Accounts (DGBA), Department of Information Technology (DIT), Department of Payment and Settlement Systems (DPSS), Deposit Insurance and Credit Guarantee Corporation (DICGC), Foreign Exchange Department (FED), Internal Debt Management Department (IDMD), Legal Department (LD) and Right to Information (RIA) Division.

The release said that MK Jain will handle the Department of Supervision (DOS), Consumer Education and Protection Department (CEPD), Financial Inclusion and Development Department (FIDD), Human Resource Management Department (HRMD), HR Operations Unit (HR-OU), Premises Department (PD), Central Security Cell (CSC), and Rajbhasha Department.

Patra will look after the Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department including Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics & Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

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Agencies
May 26,2020

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

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