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Swamy's charges against Chidambaram baseless, says government

April 29, 2012

Swamy

New Delhi, April 29: The government has rejected the allegations levelled by Janata Party chief Subramanian Swamy against Home Minister P. Chidambaram in the Aircel-Maxis equity issue referring to them as “totally baseless”.

Last week, Dr. Swamy had charged Mr. Chidambaram, the then Finance Minister, of delaying permission for the sale of Aircel to Malaysia-based Maxis in 2006 to benefit his son Karti Chidambaram.

In a statement issued here the government released records of Foreign Investment Promotion Board (FIPB) on the issue and said, “It will be abundantly clear that there was no delay whatsoever. It is unfortunate that baseless allegations should be made without verifying the facts.”

Dr. Swamy had alleged that the proposal of M/s Global Communication Services Holdings Ltd, Mauritius (a wholly owned subsidiary of M/s Maxis Communications Berhad) to acquire 73.99 per cent equity in M/s Aircel Ltd was delayed by the then Finance Minister in order to benefit certain persons.

The release said, on January 1, 2006, that Global Communication Services Holdings Ltd acquired 26 per cent equity in Aircel Ltd through the automatic route and on January 30, 2006 the applicant applied for enhancing its equity in M/s Aircel Ltd from 26 per cent to 73.99 per cent.

“The application was processed in the normal course and the Ministries and Departments concerned took the normal time of four to six weeks to offer their comments. The proposal was included in the agenda notes circulated on February 17, 2006.

“On March 7, 2006, the matter was placed before the meeting of the FIPB. DoT conveyed its support to the proposal at the meeting. FIPB recommended the proposal for approval on March 7, 2006 and the file was moved by Deputy Secretary on March 10, 2006.

“The minutes of the FIPB meeting were placed before the then Finance Minister on March 13, 2006 and he approved the same. The formal letter of approval was issued by the Ministry of Finance on March 20, 2006.” The release stated that from the sequence of events it is abundantly clear that there was no delay whatsoever. “It is unfortunate that baseless allegations should be made without verifying the facts.”

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News Network
March 4,2020

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

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Agencies
August 7,2020

New Delhi, Aug 7: India's COVID-19 cases tally crossed 20 lakh mark with the highest single-day spike of 62,538 cases on Friday, said Union Ministry of Health and Family Welfare.

The COVID-19 tally rises to 20,27,075 including 6,07,384 active cases, 13,78,106 cured/discharged/migrated and 41,585 deaths, according to the Ministry of Health.

Maharashtra with 1,46,268 active cases and 3,05,521 cured and discharged patients continues to be the worst affected. The state has also reported 16,476 deaths due to the infection.

Tamil Nadu has 54,184 active cases while 2,14,815 patients have been discharged after treatment in the state. 4,461 deaths have been reported due to COVID-19 in the state.

Andhra Pradesh with 80,426 active cases is the third on the list. There are 1,04,354 cured and discharged patients and 1,681 deaths reported from the state.

Delhi now has 10,072 active cases and 1,26,116 cured and discharged patients. 4,044 people have lost their lives due to the disease in the Union Territory so far. 

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Agencies
June 25,2020

Patna, Jun 25: At least 83 people died due to thunderstorms in Bihar in the last 24 hours, according to Chief Minister's Office.

Bihar Chief Minister Nitish Kumar announced Rs 4 lakhs each for the families of deceased.

Thirteen people died in Gopalganj, 8 each in Madhubani and Nawada, 6 each in Baghalpur and Siwan, 5 each in Darbhanga, Banka, East Champaran and 3 each in Khagaria and Aurangabad.

Due to thunderstorms, two people each lost their lives in West Champaran, Kishanganj, Jamui, Jahanabad, Purnia, Supaul, Buxar, Kaimur while one death each was reported in Samastipur, Shivhar, Saran, Sitamarhi and Madhepura.

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