India prepared for US pullout from Afghanistan: Govt

February 7, 2013

Indian_army

Bangalore, Feb 7: India is taking steps to face any eventuality that may arise after the US begins to pull out its troops from Afghanistan next year, defence minister AK Antony said here on Wednesday.

"We are taking steps to safeguard our country from any eventuality that may arise after the US withdraws all its combat troops from Afghanistan," Antony told reporters at an aerospace event here on Wednesday.

Terming the geo-political situation in the region "very critical", Antony said the complete withdrawal of the US troops from Afghanistan would be a matter of concern for India as hostile forces could pose a threat to the country from across the border.

"Nobody can threaten our country as our armed forces are fully prepared to take on any threat to our national security. We are equipping all the three services with the latest warfare equipment from within the country and overseas," Antony said.

Concerned about Gwadar

Noting that the transfer of the Gwadar port to China by Pakistan was also a matter of concern for India, the defence minister said though the Chinese were building the port on Pakistan's request, their presence would be assessed from security interest.

The Pakistan government January 30 transferred the management of the strategic Gwadar deep sea port in the Arabian Sea from Singapore to China Overseas Port Holdings Ltd, which played a key role in its construction.

"As the Chinese constructed that port, Pakistan handed it over to China in mutual interest. It (presence of China) is a matter of concern us. My answer is simple and straightforward: We will keep an eye on it," Antony said.

Located between the apex of the Arabian sea and the mouth of the Persian Gulf, Gwadar port is 400 km away from the Strait of Horumuz, through which global oil supplying tankers pass.

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News Network
January 1,2020

New Delhi, Jan 1: Prevention of Money Laundering Act (PMLA) court in Mumbai has allowed banks that lent money to embattled liquor tycoon Vijay Mallya to utilize seized assets, news agency reported today quoting sources from the Enforcement Directorate (ED). The court also said all parties affected by the order can appeal at the Bombay High Court till January 18.

Last month, a consortium of Indian banks petitioned a London court for ex-billionaire Vijay Mallya to be declared bankrupt over ₹9,000 crore in unpaid debts. It comes as Mallya, who founded the now defunct Kingfisher Airlines Ltd, faces extradition to his home country of India.

Mallya had fled India in March 2016 and has been living in the United Kingdom since then. The 64-year-old former Kingfisher Airlines is fighting extradition to India in relation of fraud and money laundering allegations arising out of the debt acquired from the banks.

Mallya remains on bail pending the UK High Court appeal hearing in the extradition proceedings brought by India in relation to fraud and money laundering charges amounting to ₹9,000 crores. He had been arrested on an extradition warrant back in April 2017 and has been fighting his extradition in the UK courts since then.

He was granted permission to appeal against his extradition order, which is scheduled in the Royal Courts of Justice in London for February.

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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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News Network
May 21,2020

New Delhi, May 21: Prime Minister Narendra Modi on Thursday paid tributes to Rajiv Gandhi on his death anniversary.

Former prime minister Gandhi was assassinated on this day in 1991 in Tamil Nadu's Sriperumbudur by a suicide bomber during an election campaign.
 
"On his death anniversary, tributes to former PM Shri Rajiv Gandhi," Modi tweeted.

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