SIT set to expand ambit of probe into black money

February 10, 2015

New Delhi, Feb 10: The Supreme Court-appointed Special Investigation Team (SIT) probing the black money cases is set to widen its inquiry in view of new names of Indians with Swiss bank accounts emerging on Monday.

SIT black money

The SIT, however, said legal action would be taken only after verification of facts.

“The scope of investigation will definitely be widened due to the (emergence of) new names. We will have to identify those names and scrutinise them,” SIT Chairman Justice (retd) M B Shah was quoted as saying by a news agency.

He said there were some old names, but some new names have also come out.

“We can't take action on the basis of news reports only. We will first verify the claims from our side and then take legal action,” he said.

The revelations by a collaboration of “The Indian Express” and “Le Monde” of Paris with the International Consortium of Investigative Journalists (ICIJ) brought out names ranging from the richest Indian industrialist Mukesh Ambani, having an average joint balance of Rs 164.92 crore along with his younger brother Anil Ambani, to NRI businessman Naresh Goyal and politician Narayan Rane.

The list also included the names of Dabur Chairman Anand Chand Burman; Anurag Dalmia of Dalmia Pvt Ltd; Yash Birla Group Chairperson Yashodhara Birla, Rajan Prasad Nanda of Escorts; and Harshavardhan Neotia of the Ambuja Group.

SIT Vice-Chairman Justice (retd) Arijit Pasayat, who attended a meeting of the high-powered panel, said that it would “consider all new cases where there is evidence of black money”.

“If any new name comes and whichever way we have authentic information, we will act on it,” he said after the over-two-hour meeting, where existing cases of this nature were also reviewed.

The SIT had in December submitted a report to the apex court revealing that people on the HSBC list held Rs 4,479 crore in Swiss banks. The court had directed the Centre to ensure that the ongoing probe was completed by March this year.

It had suggested quoting PAN for cash and cheque transaction for payments over Rs 1 lakh to curb cases of slush money. Unregulated mining, Ponzi schemes, iron-ore exports, and the misuse of the export-import route, were identified as major areas prone to black money transactions.

The new names reported by the ICIJ said their records, apparently obtained through leaks from a Geneva-based branch of the HSBC, show that there are 1,668 Indians on it, while the number of actionable cases stands at 1,195 after taking into account duplication and some other factors.

Collectively, these accounts had a balance of $4.1 billion (Rs 25,420 crore) till 2007. The SIT is likely to discuss the new data in its next meet.

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Agencies
July 15,2020

Lucknow, Jul 15: As many as 122 alleged criminals were killed in over 6,000 encounters in Uttar Pradesh in the past three years, while 13 policemen also lost their lives during this period, a senior police official said.

He also said over 2,000 criminals were injured in police action, while over 13,000 of them have been arrested.

"Thirteen policemen have been killed in action in as many as 6,126 encounters (in UP), while as many as 122 criminals have been gunned down," Additional Director General of Police (Law and Order) Prashant Kumar said while sharing details of police encounters from March 20, 2017, to July 10, 2020.

As many as 13,361 criminals have been arrested, while 2,296 criminals were injured in police encounters, he said, adding 909 policemen were also injured in these incidents.

Referring to the Kanpur ambush in which eight policemen were killed, Kumar said, "Of the 21 named accused in the incident, six have been killed and four arrested so far. A hunt is on to nab the 11 other accused."

Eight police personnel, including a DSP, were gunned down by the henchmen of gangster Vikas Dubey in Bikru village of Kanpur on July 3.

Seven others, including a civilian, were injured in the attack after the police team entered the village past July 2 midnight to arrest the gangster.

Dubey was later killed in an encounter on July 10 after police claimed that he tried to escape from the spot in the Bhauti area where the vehicle carrying him from Ujjain to Kanpur met with an accident.

Kumar said overall there has been a decline in the crime rate in the state this year compared to the last year.

"A total of 579 instances of loot took place in the state from January 1, 2020, to June 15, 2020. This is 44.17 per cent less compared to the crimes committed in the same period in 2019, the ADG (Law and Order) said.

He said 33 incidents of dacoity have been reported in the state this year so far. It is 37.74 per cent less compared to the crimes committed in the same period in 2019 .

Similarly, 2,604 instances of burglary have taken this year so far and is 30.97 per cent less compared to the crimes committed in the same period last year, Kumar added.

He said 1,019 dowry-related deaths have taken place this year, registering a 6.34 per cent decline compared to the previous year.

As many as 913 incidents of rape have been reported this year so far, a decline of 25.41 per cent compared to the last year, Kumar said.

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News Network
March 23,2020

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

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News Network
February 16,2020

Washington, Feb 16: India and the United States share "unshakeable" ties, said US Principal Deputy Assistant Secretary (PDAS), Alice Wells, on Sunday, adding that the upcoming visit of President Donald Trump will further strengthen the relationship between the two countries.

"The U.S. and #India enjoy a close partnership that grows stronger day by day. Together, we are breaking records. For example, we welcomed a record number of Indian exchange students to the US last year and hope to receive even more this year," said Bureau of South and Central Asian Affairs in a tweet attributed to Alice Wells.

"The ties between our countries are unshakeable, and we look forward to an even warmer relationship as @narendramodi hosts @POTUS later this month," it added.

Trump will pay a two-day state visit to India from February 24 at the invitation of Prime Minister Narendra Modi.

"India is at the heart of the Indo-Pacific region and plays an increasingly prominent role on the world's stage. The U.S. looks forward to partnering with #India at every step of the way, " Alice Wells further said.

According to the Ministry of External Affairs (MEA), Trump is expected to attend an event at the Motera Stadium in Ahmedabad on the lines of the ''Howdy Modi'' function that was addressed by the US President and PM Modi in Houston in September last year. Trump is slated to pay a two-day visit to India from February 24.

During the visit, Trump, who will be accompanied by First Lady Melania, will attend official engagements in New Delhi and Ahmedabad, and interact with a wide cross-section of the Indian society, the MEA said in a statement.

The announcement of Trump's first official visit to India was earlier made by the White House on Monday, which, in its statement, said that the US President and Modi had agreed during a recent phone conversation that the trip will "further strengthen the United States-India strategic partnership and highlight the strong and enduring bonds between the American and Indian people".

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