SC slams Gautam Khaitan's lawyer in AgustaWestland case

Agencies
September 11, 2019

New Delhi, Sept 11: Supreme Court bench headed by Justice Arun Mishra on Wednesday slammed the lawyer of Gautam Khaitan in the AgustaWestland case on the applicability of the black money law with retrospective effect.

"You are trying to avoid the bench. This conduct is deprecating," Justice Mishra said during the hearing.

"Nonsense", said Justice Mishra, objecting to a senior lawyer not agreeing with a date of hearing in Khaitan's case. Khaitan is an accused in the AgustaWestland VVIP chopper scam and he was booked under the Black Money Act.

"Justice can't be purchased like this. Looks like you want to avoid this bench. We are averse to such a practice. It won't work in this court", Justice Mishra said.

As the lawyer persisted on hearing the matter on a different date, Justice Mishra replied, "You people are lawyers and you are supposed to protect the law. The matter is scheduled for final hearing next week on Wednesday."

The Supreme Court had in May stayed the Delhi High Court order saying that the 2016 black money law cannot be applied with retrospective effect.

The high court had on May 16 restrained the Centre and the Income Tax (I-T) department from taking any action against Khaitan.

The Supreme Court vacation bench, headed by Justice Mishra and also including Justice M.R. Shah, issued a notice to Khaitan, asking him to reply within six weeks.

In May, the Centre had moved the Supreme Court challenging a Delhi High Court order, which ruled the black money law cannot have a retrospective effect, that is, it can't be applied prior to April 1 2016, as fixed by Parliament.

Solicitor General Tushar Mehta had submitted indicating at the implications of the high court order on several cases pending before courts mentioned the matter before the vacation bench comprising Justices Indira Banerjee and Sanjiv Khanna.

On May 16, the Delhi High Court passed the order preventing the government and the Income Tax department from initiating any punitive measure against Khaitan under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

Challenging his arrest, Khaitan had submitted before the court that the Act on black money was notified by the Centre before the Act itself became operational.

The Enforcement Directorate (ED) on January 26 arrested Khaitan, an accused in the VVIP chopper deal scam, for allegedly depositing money in offshore accounts.

The high court had said: "... at this stage we are prima facie of the considered view that, the official respondents could not have exercised powers granted to it under the provisions of Sections 85 and 86 of the said Act, prior to the enactment itself coming into force, in terms of the provisions of sub-Section (3) of Section 1 of the said Act."

The high court had queried the Centre on the applicability of the retrospective effect from July 2015 to the enactment of the black money law in April 2016 to take into consideration undisclosed foreign income and assets. Khaitan had informed the court that under the Act unnecessary action has been initiated against him for assets which did not exist before the law came into force.

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Agencies
June 16,2020

Mumbai, Jun 16: Saudi Arabia’s sovereign wealth fund, PIF, is all set to pick up a stake in Jio Platforms, which would complete 25% of Jio’s equity dilution to the investors, said a report by the Gulf News.

Jio Platforms is part of the Reliance Industries empire owned by Mukesh Ambani. The Public Investment Fund (PIF) will acquire 2.33% for an estimated $1.5 billion, the report said.

So far, Jio Platforms has raised investment from 10 different global investors in seven weeks, the latest being TPG Capital buying 0.93% equity for Rs 4,547 crore and private equity firm L Catterton picking up a 0.39% stake for Rs 1894.50 crore.

Jio Platforms has raised a total of Rs 1.04 lakh crore so far from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.

With PIF coming on board, Jio Platforms would have diluted 25% of its equity. That's the maximum they intend to dilute to financial investors, which includes Mark Zukerberg's Facebook.

Any new investors coming on board in future will have to be "strategic investors, a tech giant, for instance," said a source who was part of the deal-making process, the report said.

In recent days, Jio Platforms, which will merge telecom, content streaming, gaming and ecommerce features into its app, has seen Abu Dhabi's Mubadala and ADIA pick up significant stakes amounting to $1.2 billion and $750 million, respectively.

Reliance Industries' owner, Ambani, Asia's richest man, has been on an investor acquisition spree, with the likes of Facebook and private equity majors such as KKR and Silver Lake Capital investing in Jio Platforms.

The contours of the deal with Saudi Arabia's PIF was finalised during Ramadan. "It was always Mukesh Ambani's wish to have a special relationship with Saudi Arabia and the UAE," said Anshuman Mishra, a London-based confidante and family friend of the Ambani family of longstanding, Gulf News quoted as saying.

He has also worked extensively with Gulf sovereign wealth funds over the years.

"Saudi Arabia's coming in to close the financial investor round in Jio is indicative of the special nature of the relationship. This is also indicative of the multi-billion-dollar partnership announced last year with Saudi Aramco.

"This is a major success for the present Indian government's foreign policy initiative in the gulf and symbolic of India's significance in the GCC," it said.

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News Network
February 10,2020

Hyderabad, Feb 10: All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi continued his tirade against PM Modi and Amit Shah against Citizenship Amendment Act (CAA), National Population Register (NPR) and National Register of Citizens (NRC). "We are ready to take bullets in our chests but we will not show our papers.

We are ready to take bullets in our chests as we love our country," Owaisi said further.

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Agencies
February 5,2020

New Delhi, Feb 5: Delhi High Court on Wednesday stated that that death warrant of all convicts in the Nirbhaya gangrape and murder case should be executed together.

The Delhi prison rules do not state whether when the mercy petition of one convict is pending, the execution of the other convicts can take place and from the trial court to Supreme Court all convicts have been held by a common order and a common judgment, Justice Suresh Kumar Kait observed while passing the order.

High Court dismissed the Central government and Tihar Jail authorities plea challenging the Patiala House court's order, which stayed the execution of the four convicts in the case. It also observed that the convicts indulged in a heinous offence of a bone-chilling rape and murder of a girl and that criminal appeals by all convicts were dismissed by the courts.

Moreover, the court observed that the review petitions were filed after long wait and convicts are taking shelter of Article 21 which is available to them till their last breath.

A single-judge bench of Justice Suresh Kumar Kait had on Sunday kept the order reserved in the matter after special hearing of two days.

Earlier, Solicitor General Tushar Mehta, appearing on behalf of the Centre, alleged that the convicts were deliberately delaying the execution, adding that any delay in death sentence will have a dehumanising effect on the convicts.

A Delhi court last week stayed till further orders the execution of the four convicts -- Akshay Thakur, Mukesh Singh, Pawan Gupta, and Vinay Sharma -- which was earlier scheduled to take place on February 1.

The case pertains to the gang-rape and brutal murder of a 23-year-old paramedical student in a moving bus on the night of December 16, 2012, by six people, including a juvenile, in Delhi. The woman had died at a Singapore hospital a few days later.

One of the five adults accused, Ram Singh, had allegedly committed suicide in the Tihar Jail during the trial of the case.

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