Saradha scam action: BJP says Mamata is pressing panic button

December 13, 2014

New Delhi, Dec 13: BJP today slammed West Bengal Chief Minister Mamata Banerjee for her "political vendetta" charge over action in Saradha scam, saying she is pressing the "panic button" and "rattled" by the possibility that her "own involvement" could come to light.mamata banerjee

"Dare does not matter. Sometimes I can say these are politically motivated attempts...If anything which is linking Mamata Banerjee with the scam, she would be investigated and interrogated by the CBI. It is for CBI to take that call and not for me to direct the CBI.

"And it will be determined on the fact of the case and investigating material, which is before the police. I am no one to direct CBI, nor is the BJP. CBI is an autonomous institution," BJP spokesperson Meenakshi Lekhi told reporters outside Parliament.

She said that if Banerjee has done anything wrong or committed any wrong in terms of conspiracy which has happened or if any link is found connecting her with Saradha scam "her dare will go away" a because the police then take its course.

Another party spokesperson G V L Narsimha Rao attacked Banerjee, saying she has "lost all her courage" and making this kind of "adventurous comments" without offering explanation for the kind of "criminal conspiracy that her party leaders were engaged in perpetrating" in the chit fund scam.

"She is possibly rattled by the revelations and possibly fears that her own involvement in the scam would come to light," he said.

BJP national secretary Sidharth Nath Singh took on the Trinamool Congress chief, saying that it is unfortunate that rather than giving a sober advice to her own leadership not to react, she herself is reacting like this. "This just goes to show her panic button," he said.

Singh also reminded that it was not the BJP government but the Supreme Court, which had ordered an inquiry into it in May 2014.

In an embarrassment to the ruling Trinamool Congress, West Bengal Transport Minister Madan Mitra was yesterday arrested by CBI in the multi-crore Saradha scam, prompting Mamata to slam BJP calling it a "political vendetta" and a "dirty conspiracy".

Banerjee also condemned the arrest as "illegal and unconstitutional" and said it is a "dangerous" step to destroy democratic institutions.

The sharp attack by the TMC supremo, who also dared Prime Minister Narendra Modi to arrest her, came even as the BJP demanded her resignation taking moral responsibility after the fresh CBI action in the scam.

Narsimhan, however, said that Banerjee is not offering any reason "why they should not be arrested, when they have actually cheated".

"They are partners with Saradha chit fund promoters in causing grievous loss to millions of people of West Bengal. I think the criminality involved in these cases is extremely serious.

"Rather than giving explanation for such involvement, rather than taking action against her own party members and people who actually colluded with the scamsters, she is only indulging in political rhetoric and political propaganda," he said.

The BJP spokesperson maintained that the Trinamool Congress and Banerjee must realise that having power in the state and being elected to the office does not give one a "license to indulge in corruption".

"You cannot really talk about political vendetta and get away. Please give all the necessary explanation. Giving all this kind of talk is not going to really lead Banerjee anywhere," he insisted.

BJP national secretary Singh said that it was under the direction of the Supreme Court that the CBI inquiry is going on and that the accusations of the chitfund scam did not come from the BJP but from leaders of Trinamool like Kunal Ghosh.

"One should ask Banerjee that you were the Chief Minister, when the scam happened under your nose, your own government was there. Why did you not stop it at the first place.

"Then you got the second chance when the scam came out in open. You did not want to investigate because your very close associates like...were involved into the scam. You did not even act against them," he said.

Holding that it is for Banerjee to "answer and introspect" why this happened, Singh said, "At the end of the day, truth has to come out. CBI must investigate so that the the hard-earned money of 17 lakh families is returned".

He also said that Banerjee should also keep in mind that she does not get to do what is the "reverse of Robin Hood".

"Robin Hood used to steal from the rich, give it to the poor. In this case, it is being stolen from the poor and given to the rich," he said.

Mitra was arrested yesterday in a case relating to Saradha Realty on charges of criminal conspiracy, cheating, misappropriation of funds as well as deriving undue financial benefits from the Saradha Group.

The CBI had earlier arrested two TMC Rajya Sabha MPs Srinjay Bose and Kunal Ghosh in connection with the Saradha scam.

"What has happened is illegal and unconstitutional. It is a dangerous step to destroy democratic institutions. My government condemns the arrest of Madan Mitra in the strictest of terms," Banerjee had said yesterday.

"It is a conspiracy, very dirty conspiracy, I ask the Prime Minister to put me in jail first," a furious Banerjee had said.

She had also said that the Trinamool Congress would hit the streets and threatened to take up the issue in Parliament.

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News Networkwork
May 14,2020

Bengaluru, May 14: ABB India has posted a profit after tax of Rs 66 crore during the first quarter (January to March) due to lower volumes including service revenue and unfavourable mix.

In Q1 CY19, it had reported a profit after tax of Rs 89 crore. ABB India follows calendar year as its fiscal year.

The company reported a profit including exceptional items and before tax of Rs 87 crore. The resultant under-absorption and mark-to-market impact due to forex volatility were partly offset by refund incomes and a one-time gain on sale of solar business during the quarter.

Revenues for the first quarter stood at Rs 1,522 crore, impacted by lower sales, non-receipt of delivery clearance, lower service revenue in the nationwide lockdown due to the COVID-19 pandemic. This impact primarily occurred in March, the company said in a statement.

ABB India said it continues to maintain a stable cash position of Rs 1,464 crore as on March 31 in a market where cash collection continues to be a challenge.

Besides, despite many activities coming to a standstill in March, the quarter was marked by commissioning for a mining major at Raigarh in Chhattisgarh, electrical and automation systems for a cement major and port and electrics, drives and automation for a leading mill in Bangladesh.

Terminal installation and commissioning for LPG, power management electrical control system for a leading refinery and commissioning of two units of a power plant in Kerala are some of the other projects where ABB's involvement ensured continuity and safe operations, it said.

On a global scale, the impact of COVID-19, as well as the fall in oil prices, has significantly impacted the short-term outlook. The global economy is expected to contract in 2020 after a rapid deterioration in outlook driven by the pandemic.

Despite unprecedented stimuli by governments and central banks around the world and initial signs of recovering economic activity in China, macro-indicators point to a global recession of uncertain duration as many countries continue to face restrictions with anticipated long-term economic consequences, said ABB India.

While the company is taking prompt action to adapt its operations and cost base to safeguard profitability, it expects the results in the coming quarter to be impacted due to the loss of volumes.

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News Network
July 2,2020

Lucknow, Jul 2: After a video showing health workers allegedly tossing bodies of coronavirus victims in a large pit in Karnataka, BSP President Mayawati on Wednesday stated that the incident is the "height of cruelty and insult to humanity".
The former UP Chief Minister demanded that the guilty must be punished.

"The tragedy that the bodies of COVID-19 victims being thrown into trenches in Ballari, Karnataka is the height of cruelty and an insult to humanity. Though incidents related to inhuman cruelty with corona patients are rampant but guilty of Ballari must be punished by the state government," Mayawati said in a tweet.

Also, in another tweet, she asked the Central government to extend the Pradhan Mantri Garib Kalyan Anna Yojana till the end of the coronavirus pandemic.

"In order to check ignominy of starvation on account of long unprecedented hardship & unemployment due to coronavirus and the subsequent nationwide lockdown, the PM Garib Kalyan Anna Yojna must continue not till November but till the end of the pandemic, this is the demand of BSP," she tweeted. 

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News Network
March 4,2020

New Delhi, Mar 4: The government on Wednesday permitted NRIs to own up to 100 per cent stake in disinvestment-bound Air India.

The decision comes at a time when the government is looking to sell 100 per cent stake sale in the national carrier.

Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.

Allowing 100 per cent investment by Non-Resident Indians (NRIs) in the carrier would also not be in violation of SOEC norms. NRI investments would be treated as domestic investments.

Under the Substantial Ownership and Effective Control (SOEC) framework, which is followed in the airline industry globally, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals.

Currently, NRIs can acquire only 49 per cent in Air India. Foreign Direct Investment (FDI) in the airline is also 49 per cent through the government approval route.

As per the existing norms, 100 per cent FDI is permitted in scheduled domestic carriers, subject to certain conditions, including that it would not be applicable for overseas airlines.

In the case of scheduled airlines, 49 per cent FDI is permitted through automatic approval route and any such investment beyond that level requires government nod.

On January 27, the government came out witha Preliminary Information Memorandum (PIM) for Air India disinvestment. It has proposed selling 100 per cent stake in Air India along with budget airline Air India Express and the national carrier's 50 per cent stake in AISATS, an equal joint venture with Singapore Airlines.

Under the latest disinvestment plan, the successful bidder would have to take over only debt worth Rs 23,286.5 crore while the liabilities would be decided depending on current assets at the time of closing of the transaction.

This is the second attempt by the government in as many years to divest Air India, which has been in the red for long.

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