Jung meets President over Gamlin issue; Delhi chief minister Kejriwal appoints bureaucrat to key post

May 19, 2015

New Delhi, May 19: Dehi lieutenant governor Najeeb Jung met the President on Monday, hours before chief minister Arvind Kejriwal was scheduled to meet Pranab Mukherjee, as the tussle for the reins of the Capital reached the doors of Rashtrapati Bhavan.

L-G Najeeb JungThe city's top two authorities have been embroiled in a hostile confrontation over the past few days over the appointment of senior bureaucrats, with the Aam Aadmi Party accusing Jung of bypassing an elected government trying to get in officers of his choice.

The Centre too has spoken out on the issue as Union finance minister Arun Jaitley asked Kejriwal to understand the responsibilities of governing the national capital. "People want governance and not controversy. So they (AAP) should understand their responsibilities and fulfil people's expectations," he said.

Kejriwal, however, got a shot in the arm from senior Supreme Court lawyers Rajeev Dhawan and Indira Jaising, who said the crisis of governance had been created solely by the L-G. "There is no provision granting the L-G the power to act at his own discretion in the matter of appointment of the chief secretary," Jaising said.

The two warring sides had clashed afresh on Monday over the removal of principal secretary(services) Anindo Majumdar, who was locked out of his office and replaced CM's secretary Rajendra Kumar, only to have the L-G declared the appointment void hours later.

This prompted an angry AAP government threaten to not comply with Jung's "unconstitutional" orders and speaking to the President. "Your directions are against the provisions of the law and the Constitution. Chief minister Arvind Kejriwal will apprise Prime Minister Narendra Modi about the issue," deputy chief minister Manish Sisodia wrote to the L-G. TV reports also said Kejriwal appointed Arvind Ray as general administration department secretary, in place of Majumdar.

Majumdar, a senior bureaucrat, had earned Kejriwal's ire for issuing an appointment letter to Shakuntala Doley Gamlin against the CM's wishes. Gamlin, who hails from Assam, defied the CM's request and took charge on Sunday as the city's acting chief secretary, causing Kejriwal to accuse her of favouring power companies.

The CM also issued orders saying any instructions from the L-G, written or verbal, should be routed through the concerned minister and the CM, in order to ensure bureaucrats don't bypass the AAP government.

Kejriwal's treatment of Gamlin, however, has come under severe criticism with Union minister Kiren Rijiju accusing the CM of insulting people from the Northeast.

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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News Network
July 3,2020

Kanpur,  Jul 3: A total of eight police personnel including Deputy Superintendent of Police Devendra Mishra have lost their lives after they were fired upon by criminals in the early hours of Friday.

The incident took place when a police team had gone to raid history-sheeter Vikas Dubey's house.

Senior Superintendent of Police and Inspector General of Police have reached the spot and forensics team is examining the area.

State Chief Minister Yogi Adityanath has expressed his condolence to the families of the eight Police personnel who lost their lives after being fired upon by criminals in Kanpur. He has directed Director General of Police HC Awasthi to take strict action against criminals. He also sought a report of the incident. 

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News Network
June 10,2020

Bengaluru, Jun 10: Congress' Rajya Sabha candidate from Karnataka and senior leader Mallikarjun Kharge and his son received threat calls on Sunday, with the latter filing a complaint with the state police chief. Kharge, a former Union Minister, received the call in the wee hours of Sunday on his landline while his son Priyank later got a call from a private number on his mobile phone.

Priyank lodged a complaint with the Director-General of Police Praveen Sood and former MLC Ramesh Babu shared the copy of the complaint on Twitter on Tuesday. In his complaint, Priyank Kharge stated that at about 1.30 am on Sunday, his father received a call on the landline where the caller spoke in Hindi and English and used invective against the Congress veteran.

The caller, according to the complaint, spoke about the Rajya Sabha election and threatened Kharge. Police are looking into the matter. Kharge is the Congress' pick for the June 19 Rajya Sabha election from Karnataka. JD(S) supremo and former Prime Minister Deve Gowda and two BJP candidates have also filed nominations for the election to the upper House.

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