SC snubs UP plea extends CBI probe ambit into NREGS scam TIMES NEWS NETWORK Ishrat case: Court notice to Amit Shah CBI Ignored Evidence, Modi's Aide, Ex-DGP Kaushik Must Be Tried: Complainant TIMS NEWS NETWORK Abmedabad: The complainant alleged A special CBI that CBI ignored evidence court on friday issued notice to ex-junior home minister of like 18 calls made be- Gujarat Aniit Shah and ex tween Vannra and Shah and statements of po- DGP KR Kaushik over an application seeking their aras accused in the Ishratdahan encounter case. licemen, witnessesand raignment accused in the case Citingevidence during the CBI investigation In the case, Gopinath Plllth, father of Javed Shaikh alias Pranesli Plllth—one of the four people killed in the encounter requested - the court to arraign Shah and Kaushik in the case and put them on trial. Ris lawyen have sought that the two first chargesheet filed by CHI onJulya, 2013. ammunition to Moth's opponents in theelection season. CBI special judge (eetaGo pi kept the next hearing for legedthat the CBI March 26. The notice comes at a time when Shah, a close aide of Narendra Mod!, is overseethe at- available evidence despite the fact that it Is in the form of B.Jl"s to the party's electoral arithmetics. It will give more an accused in the case, which men, withesses as well as Shah were also cited In the pet- ition seekingto implicate him. Ik, who was the Ahmedabad For this, Pfflai has cited Vanza- police commissioner at the time, was aware that encoun- ra's bail application filed in the same CBI court and the resig- ter victims nation tody September last yeat In these documents, Vanzara has hint- were in police cusbefore their death. Yet he had remained silent on the claims made in the FIR that he had received an inteffigence input 15 days back. Pillai's petition has Mso argued that the letter he tendered in ed at involvement of these two persons in the conspiracy behind the fake encounter, the complainant said. Fbr Shah's CBI had not put on record what arraignment, Pillai cited state- Kaushik had to say about this. Besides claims and state- that was recorded under sec- ments of DyS? D H Goswami ments mentioned in the FIR, the CBI has also placed details of calls that had taken place be- tion tweenD G Vamara and Kaush1k during the encounter. Simi- 'kaalidadhi' and 'safeddaadhi' larbc the details of Moth and between 18 calls Vanzara and 164 of CrPC. Goswami had stated about Vanzara's revelationthathehadinthnatedboth - mis- pendedlPSofflcerGLSinghal, aflegedllyestablishthatKaush- made has had ignored statements and call records campaign in Utgathered by the investigators. t He cited statements of policeing bechargedundersectjon3l9of the CrPC on the basis of the The complainant believed to be alluding to Shah— about the plans for the fake encounter. FTIL sells arm for Rs242cr as chairman of MCX-SX quits TIMES NEWS NETWORK After CM move, MCX plunges intocr!sis AGE CORRESPONDENT G.K. Pillal, who took MUMBAI, MARCH 14 The shares of charge of the exchange in November 2013, stepped Multi the post of Commodity Exchange (MCX) promoted by chairman citing personal Jignesh reasons. Shah down from plunged 17.5 per cent in the hitraday trade on the Bombay Stock Exchange (BSE) fol- reports that the Central Bureau of Investigation (CBI) began lowing SEBI While the CBI inquiry hilo grant of Ucense to MCX-SX has raised concerns about the future of granting of to MCX Stock Exchange (MCX-SX) to commence operation in 2008. They a'so renewed recognition Exchange Board of Indla (SEBI) C.B. Bhave, for- mer MCX-SX. in approval preliminary inquiry a against former chairman of Securities and LM.Abraham Shah over alleged frregu- larities member aM Mr stock exchange, Saurabh Sarkar, per cent press conference said that equity stake the exchange Ing stringent regulator while had cleared audits by the before being granted the renewal in October 2013. "Wc were also granted permission to offer trading in the IRF segment on our platform in January 2014 indicating the confidence of the regulator in the exchange and its sys- tems and processes' added. he Meanwhile in a separate development,G.K. Pillai, who took charge of the exchange in 2013 stepped the in 2009 aM 2010. MCX ancl Financial Technologies, both promoted by Mr Shah hold 5 November down from the post of chairman cit in SX in a personal the the hurriedly called reasons board of MCX-SX, which met here F'riday on elected Thomas Mathew, former chair- man of MC the chairman exchange of the and Ashima Goyal, professor at Indira Gandhi Institute of Development Research (IGIDR) as the vice-chairperson of the exchange. Mr Sarkar also assured market participants that the exchange has successfully ring fenced itseif 5600 crore seterisis at the NSEL, another entity promoted by Jignesh Shah. from the tiement manag- director and chief executive officer of MCXing Today Bureaux SCnotice to Ranbaxy Centre on bad drugs AGE CORRESPONDENT The Supreme Court on F'riday issued notices to the Ranbaxy Centre and Laboratories Ltd on a pub- lic interest litigation seek cancellation of the companys licence as weil Ing as a CBI probe against it supplying for allegedly adulterated drugs in the country. Agreeing to examme the ailegations, a bench headed by Chief Justice of India P Sathasivain, how- ever, refused to pass any interim order to restrain the company from manufacturing drugs. "The matter requires consideration and will wc examme it, hut wc cannot grant any interim stay," the bench said. passed The court the order on a public interest litigation filed by advocate ML. action Sharma seeking against the company for allegedly supplying substandard and adulterated drugs. Mr Sharma had earlier too mcd a similar petition which was dismissed the apex court. by The court, however, had granted liberty to Mr Sharma to file a fresh peti- tion with additional documents in support of his allegations. In his PIL, Mr Sharma alleged that "Ranbaxy was fined $500 million by the Food Drug and (USFDA) Administration making for and selling US adulterated drugs". The petition also sought sealing of all its manufacturing units here, includthose in Paonta Sahib in Himachal Pradesh and Dewas in Madhya Pradesh. alleged He that despite Ranbaxy pleading guilty to ing süpplying adulterated drugs in the United States and lt being flned such a huge amount, the Centre has not taken any action to prohibit or ban the drugs made by the company. He also sought action against Indian drug regula- tor Central Drug Standards Control Organisation for permitting Ranbaxy to seil drugs in India, especially after the results of the US Drug Food and Administration probe against the company Textile firm ex-chief faces CBI inquriy New Deihl: The CBI has initi ated an inquiry against a former chairman cum managing director of National Textile Corporation tor alleged fraudulent sale of prime property inposh area of Mumbai at throwaway prices to a private company. CBI sources said Ute prelimi- nary inquiry has been start- ed against former NTC CMD Ramachandran Pillai and New Jack Printing Press Private Ltd tor causing a loss estimated to hundreds of crores to the exchequer. The agency alleged that Pillai committed gross misconduct by favouring the company in ensuring that ownership rights of the plot owned by NTC in Parel area ot Mumbai were transterred to the company. - L 1.> Ishrat case: CBI court notice to Amit Shah AHMI3DABAD, MARCH14 A special today Gujarat's of CR1 court here notices to former Minister issued State Shah and General for Home Amit former Director of Police KR Kaushik on a petition seeking to make them accused in the Ishrat Jahan fake encounter case. GopinathPilla3ç the father of Pranesh Pillai, alias JayS Sheikh, one of those killed along with Ishrat, has moved the court with the petition. Special CBI court judge Geeta Gopi issued the notice to Shah and Kaushik as well as the CE! vhile posting the plea for further hearing on March 26. Pillay wants the court to put the two on trial for criminal conspiracy, illegal confinement and murder. The two charge-sheets filed by the CR1 so far do not name Shah, a prominent aide of Narendra Modi. - Ff1 Come prepared to seek CBI probe HC to ex-dHver TRIBUNE NEws SERvICE CHANDIGARII, MARCH14 The PUnjab and Haryana High Court virtually made it clear Ashutosh to Mahara,j's former driver Puran Singh that he needs to 'come prepared in a better manner" for seeking a CBI probe into the spiritudeath. The court adjourned the case till March 18. al The petition was filed than a month after Justice MMS Beth of the high court told Puran that he could approach the less police station concerned for remedy if he Ashutosh Maharaj died an unnatural felt had death. Puran's latest petition, which is expected to come up Latest plea guru's during the next hear- ing, is based on the ground that the police refused to intervene even after he had approached them. Puran has all along been contending that Ashutosh Maharaj was dead per as clinically the status report of Punjab Government and certificate of doctors. He was hale and hearty and his alleged sudden death due to cardiac The court adjourned the " case till March18 'Ashutosh Maharaj's driver Puran Slngh's latest petition, which is expect- ed to come up in the next hearing, isthatthe police refused to Intervene even after he approached them to look Into his 0unnatural' death arrest raised suspicion, he had maintained. The poet mortem was imperative so that death "the real cause of may come to light" Puran habeas had also filed a corpus petition for Ashutosh Maharaj's release. In his order, Justice Bedi had asserted: "flom the report of the doctors, it is apparently the alleged detainee at the time of presentation of the pet!clear that tion was clinically dead.' SC nodto CBI probe in UP NREGA 'scam' AGEcORRESPONDENT 0 The Allahabad NEW DELHI, MARCH 14 high court had The Suprerne Court on Friday gave the go ahead für a CBI probe aileged misap into propriation of funds under the National Employment Rural Guarantee Scheme (NREGS) in seven dis tricts of Uttar Pradesh. A bench headed by Chief Justice 1'. Sathasivam missed a petitions dis bateh of including that of Uttar Pradesh government challeng ing the Allahabad high court verdict directing a CIII probe into the afleged irreg ularities. fle Allahabad high on January 31 durected the CDI to investigate the alleged b appropriatuon NREGS in Uttar 1.' p a dustricts hold a enqufry to preliminary with regard other alleged abuse, misuse or misappropriation of funds provided by the Centre under the scheme followed by a regular inquiry, if alleged all and of funds in under NREGS Uttar Pradesh's - seven districts Balrampur, Gonda, Mahoba, Sonbhadra, Kabir Mirzapur Sant Kushinagar between Nagar, - and and 2007 2010. The high court order was passed 011 a PIL. The high court had directed the CIII to distrtcts of the state for the three relating years to required. abuse of funds under court bad on January 31 directed the CIII to investigate the misappropriation -- lt bad directed the state government to provide necessary assistance includfflg manpower to the CBI within a month from the date of receipt of request to proceed für investigation in pur suance to the judg ment. The high court bad also directed the CIII to submit a status report to it every three months with regard to the hivestigation. Brotherhoocd? Babus rap CBI for Bhave-Abraharn move Ex-babuis question CBI' action; stand by Bhave PDD BUREAU/Pit I,r'ur'r,,. us r ncn IJtLrli, nARUI Pt COMING out in a support ofex-SEBlChairrnancg Bhave arid ex-member K Abraham, M former bureaucrats have ques the CBI's "unfortu nate action" of registering tioned a Preliminary Enquiry against them for alleged irregularities in granting sanction to MCX Stock Exchartge. "Both Shave and Abr aham have an unblem ished record," former CAG V'mod Rai told PT!. Former Central Vigilance Commissioner N Vittal also questioned Cifi's move ascertain against how MCX 5X was in it, then they should not be harassed," said LAS Sarma former granted coat Bhave and Abraham 'The CBI h a s La permission be c.o me W1$4 1'tf highly con troversial Its reputation has become questionable," alleged. The PE Vittal was registered Abraham and Shave yesterday on issues of alleged irregularities in against granting sanction the MCX-SX by the Securities and Exchange Board of India to (SEBI) in 2008 and renewing the recognition in 200 and 2010. The probe by CBI safeguard SEW when regulatory authority. The CBJ's enquiry has also named Jignesh Shah-foundedFinancial India Ltd (FTIL) and its commodity exchange arm MCX. is very unfortunate to harass these people. In case they Abraham) wrong is to nism opposition Shave was head of the "It there is secretary He suggested a mecha- despite 1by Technologies intention (Bhave have and to be in place to honest offi cials, "There has to be a rating for bureaucrats during their tetture. No c,ase should be registered against an officer for any wrong decision if his intentions 'were not malafide. "There is also a need to have a systematic reform. Instead of naming a per son in an enquiry, the made need is to take corrective decision and malafide no steps in the system," said Sarma, the investigation. CBI is Barking Up The Wrong Tree Inquiry against Bhave and Abraham misguided In India, presumed innocent till proven guilty is a joke. Reputations shrivel under the mere shadow of suspicion, undertrials watch their years and life ebb quietly away injail before their case Is disposed of, often in their favour Therefore, initiating a CBI Inquiry against anyone is not a costless affair. In this light, it is extremelyunfortunate that the GUI has initiated a preliminary inqui- ry against former Sebichairman GB Bhave andfull-time member KM Abrahamforpossible mala fide In licensing MCX-SX, a stock exchange promoted by commodities exchange MCX and Financial Technologies Ltd, both promoted by Jignesh Shah, now being investigated for malpractice at yet another exchange he had promoted, the National Spot ExchangeLtd. Thepoint is not just the impeccable reputation that Mr Rhavehas forprobity The point, essentially, is empirical evidenceforanyreasonablegroundfordenyjngcs a licence to operate an exchange. There was none. It was in the public interest to create one more exchange to offer competition " 4 in a space where one player, the National Stock Exchange, had gaihedundesirable levels of domfl inance. Terms had beenlaid down for 1 promotion of new stock exchanges and MCX-5X met those terms. The deemed misdemeanour of granting extension of the conditional licence MCX-SX had received, on the condition of diluting ownership of individual shareholders to a maximumof that 5% within a yeai was no misdemeanour In fact, it was the condition of diluting ownership to 5% within one year of commencing operations that was unreasonable and anti-competitive. MCX-SXhad to wage a battle with Sebi led by Bhave to get a licence to trade equities, and succeeded only with the intervention of the Courts. MCX and MCX-SX exist as entities separate from and now distanced from Financial Technologies and NSEL. These exchanges need to function and prosper in the economy's interest, even as inquiry into NSEL and its promoters proceeds apace. The CBI is eager to run down its caged parrot imagery forreasons that are understandable.Flights of fancy are not a solution, however CBI Probe Likely to Derail MCX Stake Sale Rights Issue sian PALAK SHAH from Premium Invest- ments. "There is appetite for stock exchange paper in the market and 90% sharehol- The probe by the Central Buof Investigation (CRI) reau ders in MCX-SX are non-con- may delay Financial Technolo- troversial." plan to sell its In MCX aM make it tougher for MCX-SX to raise money through its ongoing rights issue. While FTIL has put its holdgies' (fl1L) Sebi's concern stake in MCX on the block following regulatory directives, ing MCX-SX badly needs money to take care of a dip in net worth. Sebi is closely monitoring the situation since all exchanges are required to maintain needs money UMCX-SX totakecareof dip in net worth... bourses should have a minimum net worth oftlOOcrore stems from the fact that MCX-SX suffered anetloss of ?140.5croreforthe first nine months of financial year2Ol3-14. Effectively theexchange is losing around US crore every month. Sebi officials said a large portion in the net worth of MCX-SX is jntangible assets and intangible assets under development Sarkar did not reply to other questions from reporters. Se comto actual cash. Jignesh Shah-promoted FTIL and MCX hold 5% each in the pared a minimum net worth of !100 crore. MCX SiCs preseit net worth is N officials told ET that MCXSX's future depends on the around !121 crore. Sarkar said promoter buying now been classified as a public shareholder in MCX-SX. Shah, along with other In- "The rights Issue is on track andwehavereceivedaconfirmation from shareholders for participation," said Saurabh Sarkar Sarkar, tive chief execu- officer and MD, MCX-SX, at a press conference on Friday morning. "We have also received expression of interest from new Investors and the exchange could exercise a preferential allotment, post the rights issue, if It is not entirely subscribed." outcome of the rights issue. some shareholders have shown interest in shares of MCX-SX and the rights Is sue would be open till the first week of April. Sources said some shareholders want to subscribe to the rights issue at a belowpar price. "Rights issue of through shareholder, has vestors, who hold a 45.63% stake in FT IL, has hired an investment bank to find buyers for FTIL's 26% stake in MCX. But it'swidely feltthat aslong and not be impacted by the CBI Inquiry, which Is related as the group remains under the CBI scanner, it would be difficult to find a buyer. At to other procedural matters and not the current working current market price, FTIL's holding in MCX is valued at of the exchange," saidSPTul around ?1.400 crore. MCX-SX may sail stock exchange. FT, which was earlier categorised as a JIGNESH SHAH BEING QUESTIONEDAGAIN 'Allaying Rights Issue Concerns Pillai Resigns as CBI Begins McX-SX Probe Under Scrutiny late Friday afternoon. He was accompanied by his lawyer Antit Nailc, founding partner of Naik Naik & Company a few FT officials including Miten Mehta, considered close to Shah. According to CE! circles, Shah pm- pointed out at the first testimony chief executive Anjani by former NS Sinha in which he took the blame for the portedly scam that Involved fraudulent commodity contracts. Sinha, however, retracted his deposition, blaming the promoters, after he was arrested by Mumbai police. Outgoing chairman Fillai as well as Saurabh Sarkar, MD & CECZ MCX-SX, allayed -. _______ H-From Page 1 A sombre-looking Shah, stepped into New Hind 1-louse, which houses the CBI office on apprehensions over the success of the ongoing rights issue. "I took charge of the o1 former NSEL QAnjanisinha change at a time when it had several chalhave the last last few few months months we we have , ,in the managed to appoint a new board and MD & lied the shots lenges. CEO to take charge of the exchange. The ongoing rights Issue is on track and we have received confirmation from several shareholders for participation," said Filial. MCX-SX has reclassified FT!L & MCX from the category of 'promoter shareholder" to "public shareholder" "The board meeting was as per the schedule planned Agencysaysdnquir9 one month back and not an emergency meeting,"-said an MCX-SX release On Thursday, the central agency grilled Shah for more than 1-0 hours in connection Rai,others Back Shave covers aspect of Sebi giving licence despite with state-owned PEC's !120-crore from trading on NSEL. & Abraham finmin's concerns ETIL SELLS SUBSIDIARY Tmoving he Jignesh * Shah story Is "'-,4 end, subjecttoshareholderapproval ETfirst reported about the sale to 1W in January at a blinding pace. Within 24 hours of the Central Bureau of Investigation be "- ginning a multi-pronged probe, GKPfflai, Chairman of MCX-SX, an exchange founded by Shah's FT group, resigned citing "per sonal reasons." Auditor General of India Vinodßaiandammiberof - thrmerpolicy-makers have Till a day ago, Pillal was urging MCX-SX shareholders to sub scribe to a rights issue, the sue expressed strong support cess of which is crucial to the bourse. Fbrmer UC chairman against whom the Central __________ Ljl:[1 for former Sebiofficiala, CB Bhave and KM Abraham, - Bureau of Investigation and MCX-S3( vice chairman Tho mas Mathew was started a preliminary probe on Thursdaç reportt,. ShajiVflcranan front appointed Mumbal. chair -man PP' 4 - in place of Plllai. Hours after Filial stepping initiated on Thursday covers the a iicence to MCX-SX despite the fi- down, Shah was called in forafur aspect of Sebi having given ther round of questioning by CBI sleuths at the agency's office in nance ministry cautioning the regulator about the! promoter group. CBI, which hasfiled an FIR in connection with the ?5,500 Mumbai's Ballard Estate area. At thetinie of golngtopress, CBlwas continuingshal-t'sinterrogation crore seam at the FT subsidiary NSEL, Is also inquiring into alleged irregularities in Sebi giving alicenceto MCX-SX in2ooßandre- And, even as financial markets and bureaucrats expressed shock - ____________________________ at CBI going after former Sebi chief CB Bhave and former mem ber - newing it over the next two years. CBI de ended the move. CBI sourc es said the preliminary enquiry Allaying Rights issue Concerns n-Il Probe May Derail Stake Sale 1*6 ! KM Abraham men seen to have Impeccable credentials " - FIIL on Friday said in a press release that it had sold its warehousing arm NBHC to PE firm India Value Fund for !Rs 241.74 crore, ThetransactionwouldbecompletedbyApril OUR BUREAU MUMBAI loss Go after inferior drug makers: regulator Drugs Aarti Dhar Controller-General G.N. Singh has asked the Cen- NEW DELHI: cism quality duced Drugs Faced of in medicines the for any quality, safety notices pro- drugs, cosmetics and medical the devices, manufactured, mar- directions violation and Su- Organisation for taking prompt and strict action the over country, issued Cosmetics Rules, Meanwhile, preme Court on Friday issued Controller-General of India has 1945. tral Drugs Standard Control with criti- internationally Drugs and of efficacy. to ensure that keted, imported or exported, meet the quality parameters and safety provisions prescribed under the Drugs and Cosmetics Act, 1940 and the to the Centre Laboratories Ltd. on a public interest litigation petition seeking cancellation of the company's licence and Ranbaxy a CBI probe against it for allegedly supplying adulterated drugs. Issues of quality of ies and government agencies of the countries concerned. "This will help in allaying doubts and and misinformation about the quality of drugs exported from India," Dr. Singh said. The regulator has also issued instnctionthat drugs be allowed into India only if they meet the requirements of the Act. medicines exported from India, when referred for investigation, are required to be probed on top priority, and an interim report has to be submitted within 15 days and complete information will have to be made available to the DCGI within three months so that requisite facts are flashed in time to embas CBI court reserves order on Loop Telecom's plea" Staff Reporter NEW DELHI: The Special CDI court trying the 2G spectrum scam case on Friday reserved its order on Loop Telecom's plea for referring the case arising out of the 2G case to Lok Adalat for settlement. CNI Saini fixed Judge the matter Senior hatgi, - advocate Mukul appearing for Ro Loop Telecom Ltd (LTL), argued the company was facing trial for the alleged offence under section 420 (cheating) read 120-B (criminal con- with Order on March22 Special party to the case and they would abide by the court order. spiracy) 0. P. for or- dable which are compoun- offences. for March 22 after conclusion of the arguments The court had on December 16 last year issued notices to the CBI and the DoT seek- advanced ing ders by Loop Telecom, the Department of Telecommunication (DoT). CR1 and their replies on LTL's plea. The plea was filed after LTL, charge-sheeted by CBI The CBI opposed the plea but said it would abide by the along court's order. Additional Solicitor General Rajeeve Mehra, who ap- had approached the court for an appropriate direction to the DoT, also said department was not a the Centre for compounding the case in LokAdalat. - peared for the with promoters of Essar Group and Loop Telecom, Notice to Amit Shah in Ishrat Jahan vase Special Correspondent returnable on March 26. The CR1 has so far filed AHMEDABAD A special Central Bureau of Investigation (CBI) court on Friday is- two charge sheets in the case, but the names of Mr. Shah and Mr. Kaushik have sued a show-cause notice to Gujarat Chief Minister Narendfa Modi's Amit Shah rat .Jahan not figured in them. In the first charge sheet, confidant sevenofficers of the Gujarat in the 2004 Ishfake encounter crime branch have been accused of hatching a conspir- case. The CBI court, in its noasked Mr. Shah; Minis- acy to ter of State for Home in 2004 when the incident happened and presently national BJP The CR1 recently filed a charge Amit Shah supplementary Police acy sheet related to the conspirCommissioner KS. general secretary in-charge of Uttar Pradesh Kaushik and the CBI on an application by Gopinath Pu- affairs, why he should not be made an accused. lai, Notices have also been sent to the then Ahmedajjad eliminate Ishrat and the other three. tice, father of .Javed Pillai, who was among the four victims of the alleged encounter. The notices are lag angle in the case, accusone retired Intelligence Bureau officer and three serving lB officials However, the court did not take cognisance sheet. . of the charge X Pillai quits as' MCX-SX Chairman as CRI probes licence PTI Ishrat case: CBI court notice to Amit Shah PNS CBI court reserves ordd on Loop's plea.to refer matter to Lok Adalat Former bureaucrats slam CBI action, back Bhave, Abraham NewDeihi, Marchl4: Corn Ing out in support of ex-Sebi chairman CE Bhave and oxmemberKM Abraham, for- mer bureaucrats tioned have ques- the CBrs stock e*change. unfortunate to There has to be a rating 'Both Bhave mid Abraham have an unblemished harass these people. In case they (Rhave and Abraham) for bureaucrats during their posed to tenure.Nocaseshouldbereg- said. record," former CAG Vinod have made wrong tbr tionod flaisaid. Former CVCNVIt- and there is no malafide tcntion in it,then they should istered againstan officer any wrong decision if his in- officials taI also questioned 'It is CBI's "unfortimate action" of reg- move istering Abraham, 'The CRI has be- quiry leged a preliminary enagainst them for alirregularities granting sancUon In to MOX come Its against Ehave arid highly ëontroverstal. has become questionable," Vittalalleged. reputation very decision them Both of them are supbe good offlcers, he Sundaram also quessuspension of some during their last tentions were not nalafide. There is also a need to have a days of retirement. systeniaticreforim' stances nism to be in place to safe- Former IAS officer C Sundararn alsosupported Bhave have been suspended on the last date of retirement. It is guardlionestofficials. arid Abraham. uot he harassed, said EAS Sarma,formercoalsecretary He suggested a mocha. 1 don't know Therehavebeenmanyinwhere bureaucrats unfair. ft Pillai quits MCX-SX as CBI probes bourse licence ENS ECONOMIC BUREAU SCnodforCBI probe into alleged irregularities in NREGA scheme New Delbi, Marchl4: The NagarMfrzapurandKushj Supreme Court on Friday nagar--between gave a green signal fora CEI 2010. The high court order probe into alleged misap- waspassedonapiL. propriation of funds under The high court had directed CW to hold aprelimi- the NREGA en scheme in sev- districts of Uttar 2007 and naryenquirywjthregardo Pradesh. other districts of the state headed by Chief Sathasivani dismissed a batch of petitions Including that of 1W gov- for the ernmentchallengthgthe4J. dertheschemefollowedbya A bench Justice P lahabad high court verdlct for CBI probe into the állegedIrregularities. Allahabad The three years relating to alleged abuse, misuse or misappropriation of funds provided by the Centre ml- regularinquiryif required. It had directed government the state to provide all high necessaryassistanceinclud- court had on January3l di- ingmanpowertoCßlwithjn rectedCßlto Investigate the a month from the date of alleged abuse propriation of National and misap- funds under Rural Employ- ment Guarantee Act (NRE- ceipt for it- of request to proceed investigation in pur- suancetothejudgement. Uttar The high court had also dfrectedCßltosubnilt a sta- Pradesh's seven districts tus report to it every three GA) scheme Balranipu ba, In Gonda, Maho- Sonbhadra, Sant Kabir months with regard to the investigation. PTI 2G: CBI court reserves order on Loop plea for LokAdalat settlement New Delhi, Marchl4: A special CBJ court on Frifor March 22 order on a plea filed by dayreserved its Loop Telecom seeking directions for referring the matter to Lok Adalat for settlement" in a ing casearis- out of the 2G scam probe. Special 081 judge OP Salni fixed the matter for orders afterhearing the arguments advanced by LoopThlecom,Cßlandthe department of telecom (DoT) on the Issue. During the arguments, CBI ing said they were opposthe plea filed by Loop Telecom but the probe agency would abide by the orderpassedby the court. "CBI is a party the In caseWewillabldebycourt order We are opposing the plea," senior public prosecutorKKGoelsaid. Additional general Rajeeve solicitor Mehra, who appeared for the Dot also said the department was not a party to the case and they would abide by the court order. "So far as these proceedings are concerned, the DoT is not a party.. the DoT wifi abide by any order passed by the court," he said. Senior advocate Mukul Rohatgi, appearing for Loop Telecom, argued the company was facing trial for the alleged offence un- der section 420 (cheating) read with 120-B (criminal conspiracy) and these offences are compoundable. a "IftheDoTdoesnothave serious objection and they leave the matter to the court, then an attempt should be made and If It Is settleditlsfmeotherwlselt will come up before courtagaln,"hesald. the Fri MCX-SX chairman GK quits as-CBI probes licence PRESS TRUST OF INDIA Sebj'sforrnerchairnanCß Mumbai/New Delhi, 14 March Rhave and - ex-member KM Abraham;besidesMCx-SX ForflierhomesecretaryGK Pillai today resigned promoters YFIL and MCX.. Mr Abra- Mr, Bhave and as chairman of MCX stock exchange, even as the gov hamweresaidtohavebeen ërnment and market regu lator Sebi tried to assuags concerns arising out of the bourse coming under CDI licence scanner. opposed The resignation dame MrPillai said MCX-SX is directors MCX-SX would act in Public interest and that there was an order ly resolution of the crisis. of former MC chair manThomas Mathew T has taken over as the new chair Soon after a preliminary man. Sebi is lookingat ways ss4ggq %hep9neerns °L licence to the exchange bacsl®d the s where investors,itãdiñjiiiuuibers and other-takeholders iii yesterday into the quentcrenewals, -,% - wehave managed to appoint way arftn4%) &çfp, Mrtillavectodake chakje--dtthW,, andsbméoth&publicints "exthaiige, hesaid est directors had expressed their minister? CM - eminent board. 1 took charge of the exchariTge at a time when It bad several challenges. How-. 4ver, in the last few months CDI grant of officials. Finance run by a professional man agement team and has an enquiry registered by MCX-SX, accordingtosenior, dambáram said he hopes exchange met strict guidelines set out by the regulator. that hours ahead of a scheduled board meeting of MCX-SX, to the grant of until the - desire to quit.. PEhas been registered against Surprisipgly, the also Meanwhile, Financial - Technoldgies (India) Ltd (F'FlL)and MCX sharply today shares fell 2Gscam of order Court reserves onLoop I STATESMAN NES SERVICE New Delhi, 14 March A city court today reserved its order for 22 March on a plea filedby Loop Telecom Limited seeking directionsfor referring the matter to Lok Adalat for settlement in a case arising out of the 2G scam probe. During the arguments, CBI said the of Spe- before cial CBI Judge OP court Saini that they were opposing the plea filed by Loop Telecom but the probe agency by the order passed by the court. would abide Additional Solicitor General Rajeeve Mehra, who apthe Dot also said the department was not a party to the case and they wouldabide by the court order. Appearing for Loop Telecom Ltd (LTL), senior advocate Mukul Rohatgi, said the company was facing trial for the alleged offence under section 420 (cheating), read peared for with 120-B (criminal conspiracy) and these offences are have a serious objection and they leave the matt er to the court, then an attempt should be made and if it is settled it is fine otherwise it will come up before the court again," said Rohatgi. The court fixed the matter for orders after hearing the arguments advanced by Loop Telecom, CBI and the Department of Thlecommunication (DoT) on the issue. 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