CBI issues lookout notice against former ICICI Bank CEO Chanda Kochhar

Agencies
February 22, 2019

New Delhi, Feb 22: The CBI has issued lookout notices against former ICICI Bank CEO Chanda Kochhar, her husband Deepak and MD of the Videocon Group Venugopal Dhoot, officials said here Friday. 

The move was taken nearly a week after a case was registered against Chanda Kocchar, Deepak and Dhoot, they said.

The move is to ensure that none of the accused in the case related to alleged corruption in clearing loans worth Rs 1,875 crore to the Videocon Group were able to leave the country, the officials said.

A lookout notice is an intimation to immigration authorities at all the ports of exit to intimate the investigation agency incase the accused tries to leave the country. The immigration authorities may also detain the person if requested by the agency. 

The Central Bureau of Investigation had to cut a sorry figure after its dilution of lookout circular against liquor baron Vijay Mallya led to his escape to the UK in 2016. 

No summons have been issued against Chanda Kochhar to record her statement so far, they said.

It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.

In its FIR, the CBI has also named several top honchos of the banking industry, including the present CEO of ICICI Bank Sandeep Bakshi, alleging that they were also members of the sanctioning committees whose role needs investigation.

Chanda Kochhar was on the sanctioning committee deciding two loans-Rs 300 crore to Videocon International Electronics on August 26, 2009 and Rs 750 crore to Videocon Industries Limited on October 31, 2011, the FIR has alleged.

The loans were issued in the alleged violation of laid down policies and regulations of the bank, it alleged.

Most of these loans became non-performing assets over the course, causing a loss of Rs 1,730 crore to the bank, it alleged.

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News Network
January 1,2020

Jan 1: The ban on the practice of instant triple talaq, making it a penal offence and the increase in the strength of Supreme Court judges were two of the major achievements of the law ministry in 2019.

In July, Parliament gave its nod to The Muslim Women (Protection of Rights on Marriage) Bill, 2019. The new law makes talaq-e-biddat or any other similar form of talaq having the effect of instantaneous and irrevocable divorce pronounced by a Muslim husband void and illegal.

It makes it illegal to pronounce talaq three times in spoken, written or through SMS or WhatsApp or any other electronic chat in one sitting.

According to the new law, any Muslim who pronounces the illegal form of talaq upon his wife shall be punished with imprisonment for a term which may extend to three years, and shall also be liable to fine.

During the year, four new judges were appointed to the Supreme Court in September, taking its strength to 34, the highest-ever.

However, vacancies in high courts and lower courts are on the rise and convincing state governments and the 25 high courts to come on board to create an all-India judicial service to recruit judges for the subordinate courts tops the agenda of the Law Ministry in 2020.

Besides creating a consensus on setting up the All-India Judicial Services, the ministry will also have to focus on filling up vacancies in the high court. On an average, the vacancies stood at 400 throughout this year.

With more than 5,000 positions of judicial officers in district and subordinate courts lying vacant, the Law Ministry has pitched for setting up all-India judicial services.

The sanctioned strength of the judicial officers in district and subordinate courts was 22,644. The number of judicial officers in position and vacant posts is 17,509 and 5,135, respectively.

The government has proposed that while states and high courts can recruit judicial officers, the Union Public Service Commission (UPSC) can hold pan-India entrance tests.

The ministry has made it clear that such services would not encroach on the powers of the states.

As of now, the selection and appointment of judges in subordinate courts is the responsibility of the high courts and state governments concerned.

The Narendra Modi government has given a fresh push to the long-pending proposal to set up the new service to have a separate cadre for the lower judiciary in the country.

But there is a divergence of opinion among state governments and respective high courts on the constitution of the All India Judicial Service (AIJS).

One of the problems cited is that since several states have used powers under Code of Criminal Procedure (CrPC) and Code of Civil Procedure (CPC) to declare that the local language would be used in lower courts even for writing orders, a person say selected from Tamil Nadu may find it difficult to hold proceedings in states like Uttar Pradesh and Bihar.

The other point of opposition is that an all India service may hamper the career progression of state judicial services officers.

Another key issue the ministry has to handle in 2020 is vacancies in the 25 high courts.

Throughout 2019, on an average, the high courts faced a shortage of 400 judges.

According to Law Ministry data, as on September 1, the high courts had 414 vacant positions as compared to the sanctioned strength of 1,079 judges. The figure was 409 in August and 403 in July, as per the data.

A three-member Supreme Court collegium recommends the names of candidates for appointment as high court judges. In case of appointments to the Supreme Court, the collegium consists of five top judges of the top court.

High court collegiums shortlist candidates for their respective high courts and send the names to the law ministry.

The ministry, along with background check reports by the Intelligence Bureau, forwards it to the Supreme Court collegium for a final call.

The government has maintained that appointment of judges in the high courts is a "continuous collaborative process" between the Executive and the Judiciary, as it requires consultation and approval from various Constitutional authorities.

Vacancies keep arising on account of retirement, resignation or elevation of judges and increase in judges' strength. In June last year, the vacancy position stood at 399, while it was 396 in May.

In April, 399 posts of judges were vacant, while the figure was 394 in March. The vacancy position in February stood at 400 and in January, it was 392, according to the data collated by the Department of Justice.

Over 43 lakh cases are pending in the 25 high courts.

Another priority would be the finalisation of the memorandum of the procedure to guide the appointment and transfer of the Supreme Court and high court judges. The issue had now been pending for over two years now with the SC collegium and the government failing to reach a consensus.

Successive governments have also been working on making India a hub of international arbitration. It has taken several steps to change laws dealing with commercial disputes.

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News Network
January 6,2020

Jan 6: Senior Bharatiya Janata Party leader Subramanian Swamy on Sunday said the country's economy is not showing good signs though Prime Minister Narendra Modi has manifested tremendous leadership skills in fighting terror and in social welfare projects.

The fiscal decisions of the government have not yielded the desired results, the Rajya Sabha MP said here.

"Modi had shown tremendous leadership skill in fighting terror, in several social areas, micro areas like bringing toilets to every village home. But the economy is a complex system...," he said while taking part in a discussion.

While every minister is talking about a 5 trillion dollar economy by 2024, but the current GDP growth has to be multiplied in four years to achieve that, the former Union minister said.

He said, if wages are slashed as a measure to cope with the situation, labor will become cheap but that will also cut down the people's purchasing power triggering dip in demand, closing down factories and rise in unemployment.

"This is one problem for which you really need an economist," he said.

Swamy said in jest, "I think Modi has one problem with me. Not only I am an economist but also a politician."

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News Network
March 7,2020

New Delhi, Mar 7: No country in the world says everybody is welcome, External Affairs Minister S Jaishankar said on Saturday, hitting out at those criticising India over the Citizenship (Amendment) Act.

Jaishankar criticised the United Nations Human Rights Council (UNHRC) for its criticism on the situation in Jammu and Kashmir, saying its director had been wrong previously too and one should look at the UN body's past record on handling the Kashmir issue.

"We have tried to reduce the number of stateless people through this legislation. That should be appreciated," he said when asked about the CAA at the ET Global Business Summit. "We have done it in a way that we do not create a bigger problem for ourselves."

"Everybody, when they look at citizenship, have a context and has a criterion. Show me a country in the world which says everybody in the world is welcome. Nobody says that," the minister said.

The external affairs minister said moving out of the Regional Comprehensive Economic Partnership (RCEP) was in the interest of India's business.

Asked about the UNHRC director not agreeing with India on the Kashmir issue, Jaishankar said: "UNHRC director has been wrong before.

"UNHRC skirts around cross-border terrorism as if it has nothing to do with country next door. Please understand where they are coming from; look at UNHRC's record how they handled Kashmir issue in past," he added.

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