Apr 09, 2018 02:24 PM IST | Source: Moneycontrol.com
News Live: ED conducts raids on Diamond Power Pvt Ltd at multiple locations in PNB fraud case
This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
Top
highlights
TDP MPs' detention height of Centre's 'oppressive attitude': Andhra Pradesh CM N Chandrababu Naidu
Cambridge Analytica whistle-blower says breached Facebook data may have been stored in Russia
Mood in Karnataka favours Congress, says Rahul Gandhi after 6 round of 'Yatra'
Trump warns Bashar al-Assad regime of big price after attack in Syria
JJ Hospital's provisional diagnosis points to drug overdose in Indrani's case
Casualties reported in strike on Syria air base: state media
PNB Fraud case update | The Enforcement Directorate is conducting raids on Diamond Power Pvt Ltd at multiple location. The CBI has already registered a case against its promoters and the company.
Sajjan Kumar, Jagdish Tytler asked not to sit on main dais at Congress fast against communalism
The 1984 anti-Sikh riots cast its shadow over the Delhi Congress' daylong fast against caste violence and communalism with Sajjan Kumar and Jagdish Tytler, listed as accused for their alleged role in the riots, being made to stay away from the main dais, party leaders said.
While a Congress leader said on anonymity that Tytler and Kumar were asked not to sit on the stage, the party's chief spokesperson Randeep Surjewala said the BJP was seeking to create a controversy where none existed.
The dais was reserved for AICC members, former ministers of the Congress government in Delhi and sitting MPs, a leader said. Other leaders sat on mats close to the main stage at Rajghat, the venue of the symbolic fast being led by Congress president Rahul Gandhi. The party's units across the country are holding similar fasts today.
Here are the headlines as of now with Moneycontrol's Anchal Pathak.
LTTS bags ExxonMobil deal, expects $20 million revenues in 1st year
L&T Technology Services (LTTS) today said it has bagged a multi-million deal from ExxonMobil Exploration Company, which will deliver revenues of USD 20 million in the first year.
The company, a listed subsidiary of EPC major Larsen & Toubro, will help geoscientists with improved data availability, enhancing the speed and efficiency of analysis and evaluation, it said in a statement. It will deploy geospatial and digital expertise and work with sister company L&T Infotech on the contract.
Strike on Syria air base kills 14, including Iranian forces: War monitor
An early-morning strike on a Syrian government air base in the country's centre killed 14 fighters, including Iranian forces allied to the regime, a monitoring group said today.
"At least 14 fighters were killed in the strike on the T-4 airport, among them Iranian forces," said the Syrian Observatory for Human Rights, a Britain-based war monitor.
Syrian state media had earlier reported dead and wounded in the strike, without giving casualty figures. The T-4 base lies in Syria's central Homs province and is also known as the Tiyas airport.
Israeli jets target Gaza position after infiltration attempt Jerusalem
Israeli fighter jets targeted a Hamas "military target" in northern Gaza today in response to Palestinians infiltrating the border and laying bombs the previous day, the army said.
Palestinian security sources in Gaza said the Israeli strikes hit a base in Jabalia belonging to Ezzedine al-Qassam Brigades, Hamass armed wing, and farmland near Beit Lahia, causing damages but no injuries.
The Israeli strike came a day after suspects crossed the northern Gaza border fence, leaving "explosive devices" that were found by the army.
The border fence between the Palestinian enclave and Israel has become the backdrop of mass Gaza demonstrations that lead to deadly clashes. Israel has faced mounting questions over its use of live fire after 10 days of protests and clashes along the Gaza Strip border.
Rains lash many places in Punjab, Haryana; farmers worried Chandigarh
Rains lashed many places in Punjab and Haryana, including Chandigarh today, increasing the woes of farmers who fear damage to wheat crop.
According to the MeT office, rains lashed Amritsar, Kharar, Muktsar, Kapurthala, Sangrur, Adampur, Pathankot, Talwandi Sabo, Anandpur Sahib, Dhuri, Faridkot and Nangal in Punjab. In Haryana, Dabwali, Kurukshetra, Pehowa, Bhiwani, Kaithal, Jhajjar, Karnal and Panchkula were among other places to be lashed by rains. Chandigarh too received a heavy downpour in the morning today.
The rains have increased worries of wheat farmers as heavy showers are harmful for ripening wheat crop.
PDP-BJP govt has become a 'non-performing liability': Congress
The Congress today alleged that the People's Democratic Party-Bhartiya Janata Party (PDP-BJP) government in Jammu and Kashmir had become a "non-performing liability", and said the administration must come out of deep slumber to infuse responsiveness and accountability in order to mitigate the sufferings of the people.
"The PDP-BJP government has collapsed. It is non-performing liability in J&K," Congress leader and former minister Sham Lal Sharma told reporters at a function in Chowki Choura area in Jammu.
Expressing serious concern over scarcity of essential commodities, poor power and water supplies, Sharma said, "The administration must come out of deep slumber and infuse responsiveness and an element of accountability in its machinery in order to mitigate the sufferings of people." Sharma alleged that the PDP-BJP government led by Mehbooba Mufti had failed on all fronts.
Migsun to invest Rs 1,000 crore on low-cost homes at Ghaziabad
Realty firm Migsun will invest about Rs 1,000 crore over the next two years to develop an affordable housing project at Ghaziabad.
Affordable housing has gained momentum on the back of infrastructure status and subsidy offered by the government. The GST rate has also been lowered at 8 percent for affordable housing projects, leading to higher demand and supply in this segment.
The company would develop 3,000 housing units under the central government's scheme 'Affordable Housing in Partnership (AHP) Pradhan Mantri Awas Yojana', its MD Yash Miglani said.
"We are coming up with an 11-acre project 'Migsun Atharva' at Rajnagar Extension. We will build about 3,000 units, of which 800 units will be for economically weaker section (EWS) to be allotted by the government under this scheme," he told PTI.
The units allotted to EWS will be priced at around Rs 4.5 lakh, while the remaining flats will be sold at about Rs 10-12 lakh. Miglani said the company would be investing about Rs 1,000 crore on this project.
Cauvery water dispute issue | Supreme Court will hear the Cauvery water dispute issue on May 3. The apex court has asked the authorities in Tamil Nadu and Karnataka to maintain peace in their states till the Court finalises the scheme for implementation of its judgment. The Centre will file a draft scheme on the same day.
Here are the top headlines as of now with Moneycontrol's Sakshi Batra.
BJP MLA held for vandalising Samajwadi Party's office after NCP leader's detention
The police in Maharashtra's Ahmednagar district today arrested BJP MLA Shivaji Kardile for allegedly vandalising the office of the superintendent of police (SP), a senior official said.
An NCP MLC, Arun Jagtap, who was also allegedly involved in the incident, was on the run and a search was on for him, Ahmednagar Superintendent of Police Ranjankumar Sharma told PTI.
The incident took place on Saturday when NCP MLA from Ahmednagar city, Sangram Jagtap, was detained at the SP's office in connection with the killing of two local Shiv Sena leaders. According to police, all the three legislators are relatives. The Shiv Sena leaders - Sanjay Kotkar (35) and Vasant Thube (40) - were shot dead on Saturday in Shahunagar area of Kedgaon in Ahmednagar, hours after the result of a civic bypoll in the area was announced, the police said. The bypoll was won by the Congress.
Need to identify constraints, renew focus on NER: Niti Aayog VC Rajiv Kumar
There is a need to identify constraints, streamline resources and renew focus on the north-east region (NER), Niti Aayog vice chairman Rajiv Kumar today said.
Kumar said that the government would involve all north-east states as much as possible in formulating development policies in the region so that nobody feels left out.
Addressing media on the eve of the first meeting of the NITI Forum for North East (to be held in Agartala, Tripura) tomorrow, he said the government would try to address concerns over inequality in the region.
The meeting will be chaired by Kumar and the co-Minister of State (Independent Charge), Ministry of Development of North Eastern Region (DoNER), Jitendra Singh. Speaking at the same event, Singh said the government will ensure equitable growth of NER.
Chief ministers of north eastern states will attend the deliberations tomorrow.
No NAFTA deal in principle to be announced at Lima summit: Sources
Talks to rework the North American Free Trade Agreement (NAFTA) are not advanced enough for the United States, Mexico and Canada to announce a deal "in principle" at this month's Summit of the Americas in Lima, according to two people familiar with matter.
The ministers responsible for NAFTA met on Friday in Washington, and said progress had been made on reworking the accord. But there was still too much to do unveil an agreement at the April 13-14 summit, the sources said, speaking on condition of anonymity due to the sensitivity of the matter.
US President Donald Trump, his Mexican counterpart Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau are due to attend the Lima gathering, and officials have held out hope for substantive progress on the renegotiation before the meeting.
Spokespeople for the Mexican economy ministry and Canada's foreign ministry declined to comment. A spokeswoman for the office of US Trade Representative (USTR) Robert Lighthizer did not respond to a request for comment on Sunday.
Four booked in Uttar Pradesh for derogatory Facebook post against Ambedkar
An FIR has been registered against four people for allegedly making derogatory remarks against B R Ambedkar on social media and assaulting a Dalit youth in Reoti area here, police said today.
The FIR has been lodged against Durgesh Pandey, Ankesh Pandey, Ritesh and Tej Narain for derogatory Facebook posts, Superintendent of Police (SP) Sriparna Gongulee said. The FIR was lodged under the SC/ST (Prevention of Atrocities) Act, IT Act and relevant provisions of the IPC yesterday on a complaint of Shiv Prakash Paswan, who was assaulted by the four.
Mumbaikars to pay more for bus rides from this week
Lakhs of daily commuters in Mumbai will have to bear additional burden on their pockets as bus rides in the city are set to get costlier from the middle of this week. The Mumbai Metropolitan Region Transport Authority (MMRTA) has decided to approve the proposal for BEST fare hike in the Maharashtra capital on April 11 and the revised fare could come into effect from April 12.
As per a Times of India report, the increment in fares will be for distances over 4 kilometer and it will remain the same for shorter distances - less than 4 km. Once the MMRTA approves the fare hike, the ticket prices will increase from Re 1 to Rs 12, depending on the distance travelled by the red buses.
Read the full report here.
Supreme Court to decide maintainability of plea for court-monitored probe into PNB scam
The Supreme Court today said it will decide whether the PIL seeking a court-monitored probe into the over Rs 11,000 crore Punjab National Bank fraud case is maintainable or not.
A bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud was told by the Centre that agencies like the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), the Income Tax department and the Serious Fraud Investigation Office (SFIO) are independently probing the PNB scam.
Attorney General K K Venugopal sought dismissal of the PIL seeking a court-monitored probe into the alleged scam saying multiple agencies are already probing the matter. The AG was opposing a plea filed by lawyer Vineet Dhanda, who has sought an independent probe in the PNB case and a direction to the government to get diamond merchant Nirav Modi deported.
The Central Bureau of Investigation (CBI) has already registered two FIRs -- one on January 31 and another in February -- against billionaire Nirav Modi, his relative Mehul Choksi of Gitanjali Gems and others for allegedly defrauding the bank of about Rs 11,400 crore.
Indian cryptocurrency exchanges considering challenging RBI's diktat
Indian cryptocurrency exchanges are considering to challenge the diktat of the RBI which prohibits entities under its regulation to work with companies which offer cryptocurrency services.
Startups like Unocoin, Coinsecure and Zebpay have expressed their reservations with the order and going by the statements they are considering to mount a legal challenge in the Supreme Court.
Coinsecure said that they were discussing the matter with industry stakeholders like Blockchain and Cryptocurrency Committee of India and the Internet and Mobile Association of India.
Read the full report here.
Ashok Gehlot appointed member of Congress central election panel
Congress general secretary Ashok Gehlot has been appointed a member of the party's central election committee, the apex body for selection of candidates during elections.
Party sources said today that Gehlot would become a member of the key committee chaired by Congress president Rahul Gandhi with immediate effect.
Gehlot, a former chief minister of Rajasthan, was recently appointed the AICC general secretary in charge of organisation and training of party cadres.
A meeting of the central election committee is likely to be held tomorrow to discuss party candidates for the upcoming assembly polls in Karnataka. The Congress is seeking to remain in power in the southern state under the leadership of Chief Minister Siddaramaiah. Karnataka assembly election will be held on May 12 and the counting of votes will be held on May 15.
Xiaomi sets up new manufacturing units in India for smartphones, PCBs
Chinese handset maker Xiaomi today said it has set up three new smartphone manufacturing units in Tamil Nadu and Andhra Pradesh, along with a facility for printed circuit board (PCB) manufacturing in India.
While the company didn't disclose investment details, it said the move will double its manufacturing capacity in India.
"We had two facilities for smartphone manufacturing earlier. Now we have added thee more in Sri City, Andhra Pradesh and Sriperumbudur in Tamil Nadu. These are in partnership with Foxconn," Xiaomi VP and India Managing Director Manu Jain told reporters here.
PNB fraud case | Attorney General KK Venugopal questioned the maintainability of petitions, reports ANI. Supreme Court to now hear the matter on April 23.
Here are the top headlines as of now with Moneycontrol's Anchal Pathak.
RBI's crackdown on cryptocurrencies forces Indian exchanges to think of moving abroad: Report
Almost immediately after the Reserve Bank of India (RBI) decided to ban regulated entities from dealing with them, Indian cryptocurrency exchanges have started looking at moving their offices abroad.
According to a report by The Economic Times, cryptocurrency exchanges like Zebpay, Unocoin, CoinSecure, BuyUcoin and BTCX India, are looking to move their head offices to places like Singapore, Belarus, or Delaware in the Unites States.
Many of them have already approached their advisers and are working on various tax structures, the report stated.
Read the full report here.
The unravelling of BJP has begun: Salman Khurshid
With just a year left to general elections in India, senior Congress leader Salman Khurshid says the "unravelling" of the ruling Bharatiya Janata Party (BJP) has begun and the popularity wave on which it came to power in 2014 is waning.
Against the backdrop of the Dalit protests, the farmers' agitation and high profile fraud cases, he said "we need to look at whether with this performance should (the BJP) be coming back" to power in 2019. "On that the clear answer is a no."
"I think that the unravelling of the BJP has begun and frankly I wouldn't be complacent but I think they have a very, very, very tough 2019," Khurshid told PTI.
TDP MPs' detention height of Centre's 'oppressive attitude': Andhra Pradesh CM N Chandrababu Naidu
Andhra Pradesh Chief Minister N Chandrababu Naidu has condemned the detention of TDP MPs by the police in New Delhi, saying it was the "height of the Centre's oppressive attitude".
It was "atrocious" to behave in "an inhuman" manner against the MPs, who tried to stage a peaceful protest outside the prime minister's residence, he said.
A release from the Chief Minister's Office yesterday said Naidu spoke over phone with some of the MPs who had been hospitalised following their "arrest" and enquired about their health.
"They (Delhi police) behaved in an inhuman fashion, without even caring about the MPs' age. This was the height of the Centre's oppressive attitude. The Centre's stance is totally undemocratic," the chief minister said.
The TDP MPs were detained when they attempted to protest near Prime Minister Narendra Modi's residence at 7, Lok Kalyan Marg in Delhi demanding special category status to Andhra Pradesh.
Cambridge Analytica whistle-blower says breached Facebook data may have been stored in Russia
The data that was inappropriately taken from Facebook may have been partially stored in Russia, the Cambridge Analytica whistleblower has alleged, lending credence to the theory of Russian meddling in US elections.
According to a Bloomberg report, whistleblower Christoper Wylie, in an episode of NBC’s “Meet the Press” said that a some of the data “could be stored in various parts of the world, including Russia.”
It was initially suggested that the data of 50 million users was breached. Facebook states that the data breach compromised close to 87 million users. Wylie said that it was possible for the final number to be higher.
Alembic Pharma gets USFDA nod for Acyclovir ointment
Alembic Pharma today said it has received approval from the US health regulator its Acyclovir ointment USP, used for the treatment of genital herpes.
The company has received approval from the USFDA for its abbreviated new drug application (ANDA) Acyclovir ointment USP, 5 percent, Alembic Pharmaceuticals said in a BSE filing.
The approved ointment is therapeutically equivalent to the reference listed drug product (RLD) Zovirax ointment 5 per cent of Valeant Pharmaceuticals North America LLC.
The drug is used for management of initial genital herpes and in limited non-life-threatening mucocutaneous herpes simplex virus infections in immunocompromised patients, the company said. As per the IMS data, for twelve months ending December 2016, the ointment has an estimated market size of USD 145 million.
China's PLA using new equipment for all-weather border monitoring
China's military is bolstering the management of its border defence by developing new types of equipment including a satellite early warning system that can be used to monitor the border areas in all environments, according to official media reports.
A satellite early-warning monitoring system is planned in some border areas that are in dispute or are difficult to enter and patrol, state-run Beijing Evening News reported yesterday.
A surveillance camera network has also been built in border zones and the density of coverage is set to increase to cover blind spots, the report said but did not mention which, or if all, of China's border regions are covered.