Relief to Manmohan Singh, others in coal scam case

April 1, 2015

New Delhi, Apr 1: In a relief to former Prime Minister Manmohan Singh, the Supreme Court today stayed the trial court order summoning him as accused in a case pertaining to grant of Talabira-II coal block in Odisha in 2005 to Aditya Birla group company Hindalco.

coal scamThe stay, which also applied to Hindalco Chairman Kumar Mangalam Birla, former Coal Secretary P C Parakh and three others, came after senior counsel Kapil Sibal questioned the legality of the summons to the former Prime Minister citing lack of sanction as required under the CrPC and contended that allocation of a coal block was an administrative act without any criminal intent.

"We issue notice on all six petitions. The trial court order shall remain stayed," a bench of justices V Gopala Gowda and C Nagappan said after hearing arguments by Sibal, who represented the former Prime Minister, and other lawyers in the case.

82-year-old Singh's daughters, Upinder Singh and Daman Singh, were present in the court during the proceedings.

The bench also stayed the proceedings before the trial court and issued notice to the Centre on a plea challenging constitutional validity of section 13 (1)(d)(iii) of the Prevention of Corruption Act.

The other three summoned as accused are Hindalco, Shubhendu Amitabh and D Bhattacharya, its officials. All the six were summoned by Special CBI Judge Bharat Parashar to appear before the court on April 8.

"I must confess that I have not been able to find out what is the illegal act done by the petitioner in the case," Sibal said at the outset of the 35-minute proceedings.

Sibal said it is not an illegal act to allot a mine contending that the administrative acts of the Prime Minister cannot be faulted on the ground that he did not follow the recommendations or procedures adopted by the screening committee.

He also referred to the earlier Supreme Court judgement by which all the coal block allocations were quashed on the ground that screening committee procedures were illegal.

"The trial court, in its order, says that you did not follow the screening committee and this is contrary to law," Sibal said, adding that the order summoning the PM does not stand the scrutiny of "public reasoning".

He also said that the trial court order does not deal with the provisions on requirement of prior sanction to prosecute a public servant under the criminal procedure code (CrPC) and the Prevention of Corruption Act.

Referring to the essential ingredients of an offence, Sibal said that "there is no reference of meeting of minds to commit an illegal act by the accused persons".

During the hearing, the bench asked the counsel for Singh to satisfy it on provisions relating to grant of sanction to prosecute a public servant.

Sibal referred to various Supreme Court judgements and said "even if I am the Coal Minister at the relevant time, I don't lose the status of the Prime Minister who has got plenary power. Everyday, I take decisions as minister and reject the advice, should I be sent to Tihar Jail?".

There has to be a meeting of minds to do a criminal act with regard to allocation of Talabira coal mines to a private firm, he said, adding, "Where is the criminal conspiracy? Is it an offence to grant coal mines to a private sector company?"

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News Network
March 13,2020

Mumbai, Mar 13:  Investor wealth worth nearly Rs 12 lakh crore was wiped out in less than 15 minutes of trading on the stock exchanges on Friday, with the two benchmarks, the BSE Sensex and the NSE Nifty, crashing over 10 per cent.

The 30-share BSE Sensex plummeted 3,380.59 points, or 10.31 per cent, to 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.

Trading was halted for 45 minutes in the early session after the index hit its lower circuit limit.

The BSE and NSE benchmark indices, however, pared most losses with the Sensex trading 835.40 points, or 2.55 per cent, lower at 31,942.74, and the Nifty was down 253.25 points or 2.64 per cent at 9,336.90 at 10.40 am.

The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours.

The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.

Traders said besides global selloff, incessant foreign fund outflows also weighed on investor sentiments.

On a net basis, foreign institutional investors sold equities worth Rs 3,475.29 crore on Thursday, data available with stock exchanges showed.

On the BSE, 1,279 scrips declined, while 193 advanced and 40 remained unchanged.

Volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a freakish selloff.

Bourses in Shanghai dropped over 3.32 per cent, Hong Kong 5.61 per cent, Seoul 7.58 per cent and Tokyo cracked up to 7.97 per cent.

Wall Street lost 10 per cent in overnight trade.

More than 1,30,000 cases of the novel coronavirus have been recorded in 116 countries and territories, killing at least 4,900 people.

The number of coronavirus patients in India has risen to 74, as per the health ministry.

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News Network
March 6,2020

Mumbai, Mar 6: A Rolls Royce car, paintings of famous artists M F Hussain and Amrita Sher-Gil, designer handbags and other luxury items belonging to fugitive diamond jeweller Nirav Modi garnered over Rs 51 crore in the second auction conducted on Thursday.

As many as 40 items went under the hammer on Thursday, which marks the completion of auction of assets seized by the Enforcement Directorate.

The auction was conducted by Saffronart on behalf of the deputy director, Enforcement Directorate, and was expected to garner a minimum of Rs 40 crore in proceeds.

A collection of 112 prized assets of Modi were put up for live and online auctions from March 3 to 5, which included major artworks by contemporary and modern Indian artists, designer handbags, luxury watches and cars.

While the online auction on March 3-4 garnered Rs 2.04 crore against the expected proceeds of Rs 52 lakh, the live auction on Thursday garnered Rs 51.41 crore more.

These assets, seized by the ED, were put on auction in an attempt to recover a part of the dues Modi owes to various banks.

According to officials from Saffronart, the ED would get Rs 53.45 crore from the proceeds of these two auctions.

The lots that went under the hammer included legendary painter MF Hussain's painting of 'Battle of Ganga and Jamuna- Mahabharata 12' which went for a record 12 crore, the highest price received so far for the painter's work.

Amrita Sher-Gil's rare 1935 painting 'Boys with Lemons', which was auctioned for the first time, sold for Rs 15.7 crore ($2.24 million).

V S Gaitonde's tranquil 1972 painting was sold for Rs 9.52 crore while Manjit Bawa's Untitled 1992 sold for Rs 6.16 crore. Modi's Rolls Royce Ghost witnessed a high demand, selling for twice its estimate at Rs 1.68 crore ($240,000).

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April 4,2020

Aurangabad, Apr 4: A marriage was solemnised on a video call, the unique method which was adopted due to coronavirus lockdown.

A Muslim man named Mohammad Minhajudd, based in Aurangabad exchanged marriage vows with a Muslim woman based in Beed via video call on Friday.

The entire country is witnessing a 21-day lockdown due to which there is a limitation on the movement of people from one place to another and gatherings have been banned to prevent the spread of the coronavirus that has wreaked havoc across the globe.

The marriage halls are also closed during the lockdown period.

The bridegroom's father Mohammad Gayaz said that the marriage was fixed between the two persons six months ago when there was no fear about coronavirus. We got the elders of the family assembled at our home and conducted the marriage on phone.

Mufti Anis ur Rehman, the Qazi who performed the rituals for the marriage, said that both the families are happy as the marriage got conducted with the minimal cost incurred and the ceremony was a simple one. 

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