BJP to rake up Bofors issue in Parliament

April 25, 2012

bofors


New Delhi, April 25: BJP Parliamentary Party today decided to rake up the Bofors pay-offs issue in Parliament in wake of fresh allegations that the then Prime Minister Rajiv Gandhi may have soft-pedalled the probe to protect Italian businessman Ottavio Quattrocchi.

Leader of Opposition in Rajya Sabha Arun Jaitley spoke during the Parliamentary Party meeting about the allegations related to the Bofors scam made by former Swedish Police chief Sten Lindstrom in an interview.

"The entire government of India at that point in time was out to save Italian businessman Ottavio Quattrocchi, including then Prime Minister Rajiv Gandhi," BJP spokesperson Ravi Shankar Prasad told reporters later.

BJP will raise this issue in the Rajya Sabha when the working of the Defence Ministry is discussed on May 2. The party also plans to raise the issue in the Lok Sabha but the "mode and manner" in which it will be brought up has not been decided yet.

Asked if Rajiv Gandhi himself was "complicit" in saving Quattrochi, Prasad said, "His government tried to save and protect Quattrocchi, and suppress the investigations. It is clear from the interview that Rajiv Gandhi's government made all efforts to stop the probe, delay proceedings and prevent any action against Quattrocchi."

Alleged anomalies worth Rs 350 crore in a helicopter deal will also be highlighted by BJP in Parliament.

The CD controversy involving Congress MP Abhishek Manu Singhvi also came up during the BJP meeting. Some members felt BJP was being "too soft" on the lawyer. "During the cash-for- query scam, Singhvi had personally been harsh on our MPs involved in the matter and worked for their expulsion. We are allowing him to get away lightly," an MP said.

Senior BJP leader L K Advani also spoke on the Singhvi controversy and about how he had to step down from the post of Chairman of Standing Committee on Law and Justice as the government was wary of the Opposition raking up the issue.

Party sources said BJP has already conveyed to Rajya Sabha Chairperson Hamid Ansari that the controversy about the CD should be referred to the Privileges Committee as if it is morphed, then it is an attempt to tarnish the image of an MP. However, if the CD is not morphed, then Singhvi should face the Ethics Committee, they said.

"We are likely to demand an explanation from Singhvi in the Rajya Sabha on the reason behind his decision to step down from the Law and Justice Committee," an MP said.

Among other issues, BJP also decided to take on the government on the plight of cotton farmers.

"Cotton export ban was lifted, yet the government has not made any efforts to bring the produce to the market. The farmers continue to bear the brunt of this and are facing hardships," Prasad said.

Issues of corruption in the UPA government will also be raised by the Opposition in this session.

In the Rajya Sabha, the discussion on working of Defence Ministry will be initiated by Jaitley on behalf of BJP. The Civil Aviation debate will be led by Rajiv Pratap Rudy, the sources said.

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News Network
July 1,2020

Sopore, Jul 1: Police rescued a three-year-old boy from getting hit by bullets during a terrorist attack in Jammu and Kashmir's Sopore on Wednesday.

Earlier in the day, a Central Reserve Police Force (CRPF) jawan and a civilian lost their lives after terrorists fired upon a CRPF patrolling party in Sopore.

Two of the injured CRPF jawans are known to be in critical condition. Three CRPF personnel were also injured in the attack, as per CRPF.

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March 27,2020

Mumbai, Mar 27: The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune.

It all depends how India responds to the situation, he said.

Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

Aggregate demand may weaken and ease core inflation further, he noted.

The liquidity measures announced include auction of targeted long-term repo operation of 3 year tenor for total amount of Rs 1 lakh crore at floating rate and accommodation under Marginal Standing Facility to be increased from 2 per cent to 3 per cent of Statutory Liquidity Ratio (SLR) with immediate effect till June 30.

Combined, these three measures will make available a total Rs 3,74,000 crore to the country's financial system.

After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation.

The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown.

While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus.

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News Network
April 20,2020

London, Apr 20 : Embattled liquor baron Vijay Mallya, who is wanted in India on alleged fraud and money laundering charges amounting to an estimated ₹9,000 crore, today lost a High Court appeal in UK against his extradition order to India.

A consortium of Indian public sector banks led by the State Bank of India had sought a bankruptcy order against Mallya as part of efforts to recoup around GBP 1.145 billion of unpaid loans from Mallya.

The 64-year-old former Kingfisher Airlines boss had appealed to the High Court against his extradition to India at a hearing in February this year.

Lord Justice Stephen Irwin and Justice Elisabeth Laing, the two-member bench at the Royal Courts of Justice in London presiding over the appeal, dismissed the appeal in a judgment handed down remotely due to the current coronavirus lockdown.

"We consider that while the scope of the prima facie case found by the SDJ [Senior District Judge] is in some respects wider than that alleged by the Respondent in India [Central Bureau of Investigation (CBI) and Enforcement Directorate (ED)], there is a prima facie case which, in seven important respects, coincides with the allegations in India," the judges ruled.

Earlier this month, the High Court in London had deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover their loan from him.

Justice Michael Briggs of the insolvency division of the High Court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka High Court be determined, allowing him time to repay his debts to the banks in full.

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