Dubai court orders extradition of Christian Michel wanted by India in Rs 3,600-cr choppers deal case

Agencies
November 20, 2018

Dubai, Nov 20: A Dubai court on Monday ordered the extradition of British national and alleged middleman Christian Michel, who is wanted by Indian investigative agencies in the Rs 3,600 crore AgustaWestland VVIP choppers deal case, according to a media report.

Michel, 54, is currently behind bars in Dubai since he was arrested and sent into custody pending the legal and judicial procedure in the UAE.

The Court of Cassation upheld on Monday a lower court order which ruled that Michel could be extradited, dismissing appeals filed by his defence lawyers, the Khaleej Times reported.

Judge Abdelaziz Al Zarouni, who headed a bench, pronounced the decision in the presence of member judges Musabeh Thaaloub, Mostafa Al Shinawi, Mahmoud Sultan and another judge, the paper said.

However, there was no immediate official confirmation about the court's ruling in New Delhi.

On Monday, Michel's lawyer Abdul Moneim submitted documents showing that courts in Switzerland and Italy had ruled not to extradite his client.

"The judicial authorities there concluded there was no criminal element in the case," the lawyer argued.

Earlier, he argued at Dubai's highest court that the extradition request procedure of Michel would be a "violation" of the international treaty signed between the UAE and India.

Contesting the lower court's ruling, according to which his client could be extradited, the lawyer argued that the Indian authorities did not follow "the proper procedures" when requesting the extradition, the paper said.

"The request should have been filed by India's Ministry of Home Affairs rather than its Ministry of External Affairs," Abdul Moneim was quoted as saying.

He contended that the procedure was "flawed" since it did not comply with the clauses of the treaty signed on the issue, the paper said.

"Accordingly, the lower court order should be reversed," he argued.

Michel filed his appeal before the Dubai Court of Cassation within 30 days after the lower court's ruling.

With Dubai's top court upholding the lower court's decision, it has become final but it will need approval from the UAE Minister of Justice for the extradition procedure to start.

The extradition procedure happens in coordination with the Interpol and the Criminal investigation Department.

Since the appellate court ruled on September 2 that he could be extradited, in response to a request filed by the Indian authorities to the UAE in connection with corruption-related charges, Michel lost his bail conditions, the paper said.

Michel, whose passport had been seized by the judicial authorities in Dubai and had been granted release on bail, became 'wanted' on September 2, following the decision issued by the Dubai Court of Appeals.

Citing a source, the paper said Michel's extradition request had previously been closed administratively here as the necessary papers were not available then from India. Once his file was complete, the case was re-opened. He was summoned and confronted with the file afterwards.

India officially made the request to the Gulf nation sometime back for his extradition, based on the criminal investigations conducted in the case by the CBI and the Enforcement Directorate (ED).

The ED, in its chargesheet filed against Michel in June 2016, had alleged that he received ‎EUR 30 million (about Rs 225 crore) from AgustaWestland.

The money was nothing but "kickbacks" paid by the firm to execute the 12 helicopter deal in favour of the firm in "guise of" genuine transactions for performing multiple work contracts in the country, according to the chargesheet.

Michel is one of the three middlemen being probed in the case, besides Guido Haschke and Carlo Gerosa, by the ED and the CBI. Both the agencies have notified an Interpol red corner notice (RCN) against him after the court issued a non-bailable warrant against him.

The ED investigation found that remittances made by Michel through his Dubai-based firm Global Services to a media firm he floated in Delhi, along with two Indians, were made from the funds which he got from AgustaWestland through "criminal activity" and corruption being done in the chopper deal that led to the subsequent generation of proceeds of crime.

Michel denies the charges.

On January 1, 2014, India scrapped the contract with Italy-based Finmeccanica's British subsidiary AgustaWestland for supplying 12 AW-101 VVIP choppers to the IAF over alleged breach of contractual obligations and charges of paying kickbacks to the tune of Rs 423 crore by it for securing the deal.

The CBI has alleged there was an estimated loss of Euro 398.21 million (approximately Rs 2,666 crore) to the exchequer in the deal that was signed on February 8, 2010 for the supply of VVIP choppers worth Euro 556.262 million.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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Agencies
February 20,2020

Chennai, Feb 20: Three people, including an assistant director were killed and 9 others injured when a crane used for the shooting of “actor Kamal Haasan starrer “Indian 2” film crashed down at Nazarathpet near Poonamallee here late on Wednesday night.

Police said the accident occurred when a group of workers were engaged in erecting a set for a scene at EVP film city, private studio. As the crane crashed down, a heavy-duty light stand that was mounted on it also fell on the workers.

Mr Haasan and the film director S.Shankar escaped unhurt in the accident.

The deceased were identified as Krishna (34), an assistant director of the film, Madhu (29) and Chandran (60), who was part of the catering team.

Tamil Nadu Fire and Rescue Services personnel, along with a fire tender from Irungattukottai rushed to the spot and retrieved the bodies from the spot.

Mr Haasan, who was at the accident spot, also helped to transport the injured people to a private hospital near Poonamallee.

The bodies were sent to the Government General Hospital for post-mortem.

The Nazarathpet police have filed a case and are investigating the cause of the accident.

Meanwhile, Mr.Haasan condoled the death of three people during the film shoot. “The accident is the most horrific I have seen in my film career. I have lost three colleagues, but my pain pales in comparison to the grief of those who have lost their loved ones.

My deepest sympathies to them, he tweeted.

The Lyca productions also expressed condolences over the tragic accident. “We are extremely saddened with the unfortunate accident happened at the sets of Indian 2. We have lost three of our most hardworking technicians, it tweeted.

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News Network
January 13,2020

New Delhi, Jan 13: The Delhi High Court on Monday sought response of the city police, Delhi government, WhatsApp Inc, Google Inc and Apple Inc on a plea of three JNU professors to preserve data, CCTV footage and other evidence relating to the January 5 violence on the varsity campus.

The Delhi Police informed the court that it has asked the JNU administration to preserve and hand over CCTV footage of the violence.

Justice Brijesh Sethi listed the matter for further hearing on Tuesday.

The court was told by Delhi government Standing Counsel (criminal) Rahul Mehra that the police has not yet received any response from the university administration.

The counsel said police has also written to WhatsApp to preserve data of two groups "Unity Against Left" and "Friends of RSS" including messages, pictures and videos and phone numbers of members, related to JNU violence incident.

The petition was filed by JNU professors Ameet Parameswaran, Atul Sood and Shukla Vinayak Sawant seeking necessary directions to the Delhi Police Commissioner and Delhi government.

The petition also sought direction to the Delhi Police to retrieve all CCTV footage of JNU campus.

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