Yashwant Sinha demands forensic audit of Rafale deal

Agencies
August 30, 2018

Bengaluru, Aug 30: Former Union Finance Minister Yashwant Sinha has called for the forensic audit of the Rafale deal, alleging that the due procedures were not followed in the purchase of fighter planes.

"I have suggested that comptroller and auditor general (CAG) should immediately do a forensic audit of this deal. It will bring out the criminal intent in it," Sinha told reporters here.

He also said that he is not in favour of the joint parliamentary committee as it can be only set up by November when parliament meets for next session. "After that only a few months of this Lok Sabha would be left and everybody by then would be in an election mode. The JPC would not be able to finish its task," he said

A forensic audit is an examination and evaluation of a firm's or individual's financial information for use as evidence in court. A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims.

According to Sinha due procedure wasn't followed in the deal. Alleging that Prime Minister Narendra Modi is responsible for it, he said, " So whose decision was it? The Prime Minister alone took that decision during that visit to Paris. And therefore he is personally responsible for it. There are no partners in this crime. He is solely and wholly responsible."

Sinha asked why the government did not take into consideration rival company Euro Fighter's letter of July 14, 2015 to the Government saying it would supply the aircraft for less than 20% of the price of Dassault.

He also questioned the governments intent scrapping out Hindustan Aeronautic (HAL) out of the deal.

"What is more surprising is the fact that HAL wasn't even given offset part of the deal ......... The government is saying that it was the French company's prerogative to select the offset. The offset rules are very clearly defined by the government. One of the rules states that each of the offset contracts will be approved by no less a person the Defence Minister. They gave it to a company with zero experience and that was set up 20 days before the deal. Nobody is going to buy this theory," he said.

The deal to buy 36 Rafale fighter jets was signed when Prime Minister Narendra Modi visited France in April 2015.

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News Network
May 9,2020

New Delhi, May 9: With 3,320 coronavirus cases and 95 deaths reported in the last 24 hours, India's COVID-19 cases rose to 59,662 on Saturday, informed the Union Ministry of Health and Family Welfare.

The total number of active cases in the country now stands at 39,834 while the number of cured/discharged/migrated stands at 17,847.

The country has reported 1,981 deaths so far, added the Ministry.

Maharashtra has the highest number of cases with 19, 063 followed by Gujarat with 7,402 cases and Delhi with 6,318 cases.

Meanwhile, the country continues to remain in a lockdown slated to end on May 17.

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Agencies
March 9,2020

Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.

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Agencies
January 19,2020

Thiruvananthapuram, Jan 19: The CPI(M) will soon launch a nation-wide house-to-house campaign to explain to the people, the 'link' between CAA-NPR-NRC, party general secretary, Sitaram Yechury said on Sunday.

The intense campaign will take place all over the country, he said while briefing the media about the three-day central committee held at Vilapilsala near here.

The central committee also urged the people not to answer the NPR questions.

"The Central committee has called upon the people not to answer any questions concerning the NPR when the enumerators come to their houses...," the left leader said.

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