Wal-Mart lobbying issue rocks Parliament for second day

[email protected] (CD Network)
December 11, 2012

parliament

New Delhi, December 11: The Wal-Mart lobbying issue rocked Parliament for the second day today, prompting government to declare that it had no hesitation in ordering a probe into reports that the retail giant had spent money to further its case in India.

 

"We have no hesitation in having an inquiry to get to the facts of the matter. We will announce further steps in the House today," Parliamentary Affairs Minister Kamal Nath said in the Lok Sabha seeking to douse the Opposition ire on the issue.

 

The government "views the reports (on Wal-Mart) with the utmost concern," Nath said.

 

His statement came close on the heels of senior BJP leader Yashwant Sinha demanding a time-bound judicial inquiry into the reports that Wal-Mart engaged lobbying firms to get entry into India and "spent money here".

 

The inquiry should be completed within 60 days and people should know who has been bribed and how much has he got, Sinha said amid cries of 'shame, shame' from the Opposition benches.

 

Noting that there have been "gross financial irregularities" in Wal-Mart leading to suspension of its Chief Financial Officer in India and seven other officers and a probe is on against them in the US, Sinha said "this has sullied the dignity of our country."

 

"These disclosures have made it clear that they have given money to people here to gain entry in India. An inquiry is going on in the US on this issue. But there is no inquiry in India. People have taken money and are sitting tight," the BJP leader said.

 

Trouble broke out when Speaker Meira Kumar asked members to associate themselves with Sinha and called Kamal Nath to respond. This led to Left and Trinamool Congress members, who had submitted adjournment notices on the issue, to storm the Well demanding that they too be allowed to speak.

 

The issue created uproar in the Rajya Sabha too which saw two adjournments with BJP members, supported by members of the Left parties and Trinamool Congress, raising the issue.

 

UPA Chairperson Sonia Gandhi was seen nudging Leader of the Lok Sabha Sushilkumar Shinde to make an announcement that Kamal Nath would be making a statement on the Wal-Mart issue.

 

Nath said, "We have learnt from press reports of the reported disclosure by Wal-Mart under US laws on amounts spent by them on lobbying in various countries, including India.

 

"The government views this with utmost concern and has no hesitation in ordering an enquiry on this in as much as it concerns payments made in India," the Minister said.

 

Making an almost identical statement in the Rajya Sabha, Nath said, "We too have learnt about the disclosures by Wal- Mart. The government views this with concern and have no hesitation in having an inquiry. We want to get to the facts of the matter.

 

"Government is not running away on this concern. We are open for a discussion. This is not a matter of concern for the Opposition, it is also a matter of concern for the government. It is for all of us. We are open for a probe."

 

He said he would come out with a detailed statement later in the day.

 

The matter was raised in the Upper House by BJP member M Venkaiah Naidu who demanded an independent probe into the issue and the matter be discussed in the House.

 

"It is a question of our nation's sovereignty. It is a shameful act. We have to have a detailed discussion," Naidu said, adding the matter was even more serious if the money was spent in the US for lobbying in India.

 

Demanding a probe, senior CPI(M) leader Sitaram Yechury said this was "a serious matter. This is something unacceptable" and announced that he would move a notice for a short-duration discussion on the issue.

 

As the din continued, Ansari adjourned the House for 30 minutes and again adjourned it till noon as similar scenes continued.

 

Earlier in the Lok Sabha, as soon as Speaker Meira Kumar took up the Question Hour, members of Left parties and Trinamool Congress trooped into the Well raising slogans.

They demanded inquiry into reports of lobbying by Wal-Mart, while BSP members sought a status report on a probe in the coal block allocation in Uttar Pradesh.

 

At another point, when the BSP members again stormed the Well, BJP members were heard remarking that they were helping the government after bailing it out on the FDI issue.

 

The uproar continued even as Kumar made repeated appeals for allowing the Question Hour to continue.

 

The Speaker then adjourned the House till noon.

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News Network
July 23,2020

New Delhi, Jul 23: Riding high on foreign investors buying stakes in Jio Platforms, Reliance Industries Ltd Chairman Mukesh Ambani became the world’s fifth-richest person Wednesday, edging past American investor Warren Buffett on the real-time ranking of billionaires by Forbes. With an estimated wealth of $75 billion, Ambani is only next to Facebook co-founder and CEO Mark Zuckerberg, whose wealth is pegged at $89 billion.

Buffet had slipped down the rankings after donating more than $37 billion of Berkshire Hathaway Inc. stock since 2006 to charity. Berkshire Hathaway’s stock performance has also underwhelmed recently.

Amazon founder and CEO Jeff Bezos still sits at top in the richest list, with a net worth of $185.8 billion. He is followed by Microsoft co-founder Bill Gates with net worth of $113.1 billion and luxury group LVMH Moet Hennessy Louis Vuitton’s chief Bernard Arnault, with a net worth of $112 billion. Facebook CEO Mark Zuckerberg is at the fourth position in the Forbes list.

Shares of Ambani’s conglomerate have more than doubled since a low in March as its digital unit got more than $15 billion in investments from companies including Facebook Inc, Silver Lake, Intel, and most recently, Google. The US tech giant has committed a capital infusion of Rs 33,737 crore for a 7.7 per cent stake on Jio Platforms.

The total investment from financial and strategic investors into Jio Platforms stands at Rs 1,52,056 crore. RIL has raised a total of Rs 2,12,809 crore through a rights issue, the combined investments in Jio Platforms and investment by BP.

During the Reliance AGM last week, Ambani had said RIL has made its net-debt free ahead of a March 2021 target due to recent investments. Ambani said Jio has designed and developed a complete 5G solution that’s ready for launch as soon as spectrum is made available next year.

Jio and Google have also entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store, Ambani said.

RILs market value jumped to Rs 12.7 lakh crore or $170 billion on Monday, making it the 51st most valued company in the world. Between April 1 and July 13, RIL has gained $81 billion in market capitalisation and has climbed 47 places from being the 98th most valued company on April 1 to 51st most value company now.

The share price of RIL has risen by 120 per cent over the last four months for Rs 883 per share on March 23, 2020 to Rs 1,939 on Monday. Since April 22, when Facebook Inc announced an investment of Rs 43,574 crore in Jio Platforms for 9.99 per cent equity stake, Jio Platforms has announced investments by 12 other investors. The total investment by these 13 investors over the last 12-weeks amounted to Rs 118,318 crore.

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News Network
July 26,2020

New Delhi, Jul 26: India reported a spike of 48,661 coronavirus cases in the last 24 hours, said the Union Ministry of Health and Family Welfare on Sunday.

The total COVID-19 positive cases stand at 13,85,522, including 4,67,882 active cases, 8,85,577 cured/discharged/migrated, it added.
With 705 deaths in the last 24 hours, the cumulative toll reached 32,063.

Maharashtra has reported 3,66,368 coronavirus cases, the highest among states and Union Territories in the country.

A total of 2,06,737 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,29,531 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 4,42,263 samples were tested for coronavirus on Saturday and overall 1,62,91,331 samples have been tested so far.

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Agencies
January 15,2020

New Delhi, Jan 15: Suspended Deputy Superintendent of J&K Police Davinder Singh had ferried Hizbul Mujahideen terrorist Naveed Babu to Jammu last year also and facilitated his return to Shopian after "rest and recuperation", officials interrogating him said here Tuesday.

"Meri mati maari gayi thi (I must have lost my mind to do what I did)," an interrogator quoted Singh as saying after the DSP failed to impress them with his theory of catching a big terrorist.

Singh was arrested last Saturday along with Naveed Babu alias Babar Azam, a resident of Nazneenpora in South Kashmir's Shopian district, and his associate Asif Ahmad.

He is believed to have taken Rs 12 lakh for smuggling the two to Chandigarh for providing them accommodation for a couple of months, officials said. The officials, who have been spending considerable time questioning Singh, said there have been many inconsistencies in his statements and everything was being crosschecked and corroborated with the confessions of captured militants who have been kept in different rooms at an interrogation centre in South Kashmir.

During questioning it emerged that Singh had taken them to Jammu in 2019 also, the officials said.

In a tone laced with sarcasm, they said the DSP was taking the militants for "rest and recuperation".

Naveed told the interrogators that they used to stay in the hilly regions to avoid the J&K police and left the areas to escape harsh winters, they said.

The official said the DSP's bank accounts and other assets were being verified by the police and papers were being collected, amid speculations that the case may be handed over to the National Investigation Agency (NIA).

Going into the service history of Singh, majority of retired and serving officials of the JKP spoken to referred to a proverb -- coming events cast their shadows long before -- to say that if action had been taken against the officer during his probation period, such things would not have happened.

Recruited in 1990 as a sub-inspector, Singh along with another probationary officer were subject of an internal enquiry where some narcotics had been seized from a truck. However, the contraband was sold by Singh and another sub-inspector, the officials recalled.

There was a move to dismiss them from the service which was stalled by an Inspector General rank officer purely on humanitarian ground and the duo was shifted to the Special Operations Group, a team of policemen engaged in counter-militancy offensive.

However, he could not last there for long and was shifted this time to the police lines only to be rehabilitated in 1997 again in the SOG.

During this period, he was posted in Budgam and is alleged to have indulged in extortion for which he was sent back to the police lines.

His proper rehabilitation began in 2015 by the then Director General of Police K Rajendra, who posted him in district headquarters of Shopian and Pulwama, the officials said.

However, after some alleged wrongdoing during his stint in Pulwama, the then Director General of Police S P Vaid transferred him in August 2018 to the sensitive Anti-Hijacking Unit in Srinagar, though the move was opposed by some other officers.

An advocate, Irfan Ahmad Mir, was driving the vehicle when they were caught by the police on National Highway in Kulgam district.

The advocate, who has also been arrested, had travelled to Pakistan five times on an Indian passport.

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