ED now books Sharad Pawar, Ajit Pawar in Rs 25000 cr MSCB scam

Agencies
September 25, 2019

Mumbai, Sept 25: Triggering a political earthquake ahead of the October 21 Assembly elections in Maharashtra, the Enforcement Directorate (ED) has registered a money laundering case against Nationalist Congress Party (NCP) President Sharad Pawar, his nephew Ajit Pawar, and several other politicians and officials in the Maharashtra State Cooperative Bank (MSCB) scam worth around Rs 25,000 crore, officials said here on Tuesday.

It may be recalled that on August 22, IANS was the first and only news media to report that Sharad Pawar could face charges in the MSCB imbroglio which exploded after the Bombay High Court judgement last month.

The ED's move against the political bigwigs came after the Bombay HC ordered the Economic Offences Wing (EOW) of the Mumbai Police to probe and file cases against the Pawars and others in the matter, setting the politicians scurrying.

Following the EOW's FIR in late August, the ED filed its case on Tuesday.

Mumbai-based activist Surinder M. Arora had approached the Bombay HC, demanding an investigation into the MSCB scam.

Earlier this month, Ajit Pawar and others had moved the Supreme Court to quash the proceedings in the matter, but Justices Arun Mishra and M.R. Shah had declined the plea and instead asked the Mumbai Police to conduct a free and fair probe.

The ED said there were several irregularities in loans provided to the cooperative sugar factories (CSFs) by the MSCB officials who were allegedly connected to the owners of the factories.

The loans were sanctioned to the factories despite weak financials, negative net worth, collaterals not taken in many cases and additional facilities extended without any justification.

This and other factors resulted in many of the cooperative sugar factories falling sick while many were sold at lower than the reserve price for the benefit of the buyers who were personally or politically connected with the MSCB directors whose consent was not taken before the sales.

Besides, the ED said many transactions involved forged sales documents and many sales were effected without inviting tenders, thus flouting rules of the NABARD, RBI and SARFAESI.

"There was huge misappropriation of funds on the part of committee members, directors and loan committee members of MSCB, acting in connivance to siphon off the money and causing huge losses to the bank," said the ED.

Setting the ball rolling last month, a division bench of Bombay HC comprising Justices S.C. Dharmadhikari and S.K. Shinde had ruled that there was prima facie credible evidence and directed the EOW to initiate proceedings invoking the relevant provisions of the law.

The Pawars and other prominent politicians, named in a public interest litigation filed by Arora, were accused of causing losses worth around Rs 25,000 crore to the MSCB between 2007 and 2011.

Earlier, a quasi-judicial probe panel under the Maharashtra Cooperative Societies Act had blamed Pawars and the others accused in the matter.

The National Bank for Agriculture & Rural Development (NABARD) had also inspected and audited the MSCB, revealing flouting of various banking and Reserve Bank of India (RBI) rules while distributing loans to sugar factories and spinning mills, and the subsequent defaults on repayments and recoveries of the dues.

Despite the probe reports and complaints lodged by Arora, no action or FIR was filed in the matter after which he filed a PIL in the high court in 2015.

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News Network
July 10,2020

New Delhi, July 10: Hours before gangster Vikas Dubey was killed in an alleged police encounter on Friday, a plea was filed in the Supreme Court demanding urgent listing for action into his "possible killing" by Uttar Pradesh Police.

Advocate Ghanshyam Upadhyay had apprehended in his plea that there is a high possibility that Dubey will also be killed in a 'fake' encounter after his arrest from Ujjain in Madhya Pradesh a day ago.

Upadhyay claimed that the UP Police was expected to "concoct the same story of encounter" for Dubey like it did when four of his associates were killed after the 2 July incident.

Dubey was the primary accused in the killing of eight policemen in Kanpur on July 2. He was arrested from Ujjain on Thursday. He was killed in a police encounter, when he allegedly tried to flee on Friday morning.

"During the hunt for Dubey and co-accused, five of his accused aides were arrested/caught and then killed by the police in the name of encounter...Thus, there is every possibility that even Dubey shall be killed by Uttar Pradesh Police like other co-accused once his custody is obtained," Upadhyay feared.

He submitted that the killing of the accused by the police in the name of encounter no matter how heinous the crime was "against the rule of law and serious violation of human rights and nothing sort of Talibanisation of the country". Upadhyay sought hearing in the matter on Friday itself, citing extreme urgency.

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Agencies
June 20,2020

Lucknow, Jun 20: A media body on Saturday described as "an act of intimidation" the filing of an FIR in Uttar Pradesh against a journalist over a report on the impact of the lockdown on a village, saying it was part of an "established pattern" of harassment of independent scribes.

In a statement, the Media Foundation put on record its strong protest over the FIR filed by the Uttar Pradesh government against Supriya Sharma, executive editor of news portal Scroll.in.

The case was filed against Sharma for allegedly misrepresenting facts in a report on the impact of the lockdown in a village adopted by Prime Minister Narendra Modi, police sources had said on Thursday.

The FIR against Sharma and the Scroll editor-in-chief is an "an act of intimidation and a case of abuse of process", intended to discourage honest and critical reporting, the Media Foundation said.

The Media Foundation was started in 1979 with the aim of upholding freedom of speech, expression and information.

The FIR against Sharma is only the latest instance of similar coercive actions against professional journalists, part of "an established pattern of harassment and humiliation of independent journalists", it said,

"It is an unacceptable encroachment on press freedom," said the foundation, whose chairperson is veteran journalist Harish Khare.

The Media Foundation called upon the judiciary, and central and state governments to uphold the spirit of freedom of speech and expression as guaranteed in the Constitution.

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True Indian
 - 
Sunday, 21 Jun 2020

people who speak truth will be send to jail and the people who speak lie will get award..we dont understant which religion they following...may be they following devil religion of RSS.....hindu brother must come out from deep sleep to protect the real value of hindusim...today all evil people in BJP will take protection for their evil deed by using hindu gods...

 

God clearely said in the quran, dont worship material bcoz one day some evil people will come and use this to control you and destroy you..

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News Network
June 9,2020

Jun 9: Prime Minister Narendra Modi wants all 1.3 billion Indians to be “vocal for local” — meaning, to not just use domestically made products but also to promote them. As an overseas citizen living in Hong Kong, I’m doing my bit by very vocally demanding Indian mangoes on every trip to the grocery. But half the summer is gone, and not a single slice so far.

My loss is due to India’s COVID-19 lockdown, which has severely pinched logistics, a perennial challenge in the huge, infrastructure-starved country. But more worrying than the disruption is the fruity political response to it. Rather than being a wake-up call for fixing supply chains, the pandemic seems to be putting India on an isolationist course. Why?

Granted that the liberal view that trade is good and autarky bad isn’t exactly fashionable anywhere right now. What makes India’s lurch troublesome is that the pace and direction of economic nationalism may be set by domestic business interests. The Indian liberals, many of whom are Western-trained academics, authors and — at least until a few years ago — policy makers, want a more competitive economy. They will be powerless to prevent the slide.

Modi’s call for a self-reliant India has been echoed by Home Minister Amit Shah, the cabinet’s unofficial No. 2, in a television interview. If Indians don’t buy foreign-made goods, the economy will see a jump, he said. The strategy — although it’s too nebulous yet to call it that — has a geopolitical element. A military standoff with China is under way, apparently triggered by India’s completion of a road and bridge near the common border in the tense Himalayan region of Ladakh. It’s very expensive to fight even a limited war there. With India’s economy flattened by COVID, New Delhi may be looking for ways to restore the status quo and send Beijing a signal.

Economic boycotts, such as Chinese consumers’ rejection of Japanese goods over territorial disputes in the East China Sea, are well understood as statecraft. In these times, it’s not even necessary to name an enemy. An undercurrent of popular anger against China, the source of both the virus and India’s biggest bilateral trade deficit, is supposed to do the job. But is it ever that easy?

A hastily introduced policy to stock only local goods in police and paramilitary canteens became a farcical exercise after the list of banned items ended up including products by the local units of Colgate-Palmolive Co., Nestle SA, and Unilever NV, which have had significant Indian operations for between 60 and 90 years, as well as Dabur India Ltd., a New Delhi-based maker of Ayurveda brands. The since-withdrawn list demonstrates the practical difficulty of bureaucrats trying to find things in a globalized world that are 100% indigenous.

Free-trade champions fret that the prime minister, whom they saw as being on their side six years ago, is acting against their advice to dismantle statist controls on land, labor and capital to help make the country more competitive. Engage with the world more, not less, they caution. But Modi also has to satisfy the Rashtriya Swayamsevak Sangh, the umbrella Hindu organisation that gets him votes. Its backbone of small traders, builders and businessmen — the RSS admits only men — was losing patience with the anemic economy even before the pandemic. Now, they’re in deep trouble, because India’s broken financial system won’t deliver even state-guaranteed loans to them.

The U.S.-China tensions — over trade, intellectual property, COVID responsibility and Hong Kong’s autonomy — offer a perfect backdrop. A dire domestic economy and trouble at the border provide the foreground. Big business will dial economic nationalism up and down to hit a trifecta of goals: Block competition from the People's Republic; make Western rivals fall in line and do joint ventures; and tap deep overseas capital markets. The first goal is being achieved with newly placed restrictions on investment from any country that shares a land border with India. The second aim is to be realized by corporate lobbying to influence India's whimsical economic policies. As for the third objective, with the regulatory environment becoming tougher for U.S.-listed Chinese companies like Alibaba Group Holding Ltd., an opportunity may open up for Indian firms.

All this may bring India Shenzhen-style enclaves of manufacturing and trade, but it will concentrate economic power in fewer hands, something that worries liberals. They’re moved by the suffering of India’s low-wage workers, who have borne the brunt of the COVID shutdown. But when their vision of a more just society and fairer income distribution prompts them to make common cause with the ideological Left, they’re quickly repelled by the Marxist voodoo that all cash, property, bonds and real estate held by citizens or within the nation “must be treated as national resources available during this crisis.” Who will invest in a country that does that instead of just printing money?

At the same time, when liberals look to the business class, they see a sudden swelling of support for ideas like a universal basic income. They wonder if this isn’t a ploy by industry to outsource part of the cost of labor to the taxpayer. Slogans like Modi’s vocal-for-local stir the pot and thicken the confusion. The value-conscious Indian consumer couldn’t give two hoots for calls to buy Indian, but large firms will know how to exploit economic nationalism. One day soon, I’ll get my mangoes — from them.

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