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HC sets aside govt resolution on teaching staff’s bank accounts

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The Bombay High Court today set aside a Maharashtra government resolution asking the teaching and non-teaching staff of the government schools in Thane to shift their salary accounts to a particular cooperative bank. A bench of justices BR Gavai and BP Colabawalla termed the resolution arbitrary and questioned the rationale behind the government’s decision to abruptly change a policy. The bench was hearing a petition filed by the Thane Zilla Sikshan Vibhag, challenging the government circular. As per the petitioners, they already had salary accounts in the Thane District Central…

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LEGAL NEWS NEWS CATEGORIES 

PNB fraud: Vipul Ambani and 5 others in CBI custody till Mar 5

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A special court here today remanded Vipul Ambani, the president (finance) of Nirav Modi’s Fire Star Diamond, and five others in CBI custody till March 5 in connection with the Rs 11,400 crore alleged fraud in Punjab National Bank (PNB). The six were arrested yesterday in connection with two FIRs registered by the CBI involving Modi and his uncle Mehul Choksi, the owner of Gitanjali Gems. The FIRs are related to fraudulent issuance of 150 Letters of Undertaking (LoU), a kind of bank guarantee, worth Rs 6,498 crore and 143…

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BUSINESS NEWS CATEGORIES 

Gitanjali Gems shares tank over 58% in 7 days

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Shares of Gitanjali Gems continued to face selling pressure for the seventh straight session today, falling 58.5 per cent in the past one week. The stock tanked 4.92 per cent to Rs 26.10 — its lowest trading permissible limit for the day — on BSE today. On NSE, shares of the company lost 4.92 per cent to hit a low of Rs 26.05. In seven days, the stock has plunged 58.5 per cent, eroding Rs 435.41 crore from its market capitalisation. On February 14, Punjab National Bank (PNB) disclosed that…

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BUSINESS NEWS CATEGORIES 

Rupee in free fall, slips 8 paise to fresh 3-month low

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Extending its losses for the third session, the rupee weakened by 8 paise to trade at fresh 3-month low of 64.87 against the US dollar in opening trade ahead of RBI’s minutes for the latest policy meeting due later on Wednesday. Besides heavy demand for the American currency from importers, persistent outflows by foreign funds and the dollar’s strength against other currencies overseas weighed on the domestic unit, forex dealers said. A higher opening of the equity market on Wednesday, however, capped the fall. The benchmark BSE Sensex rose 207.77…

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NEWS CATEGORIES WORLD NEWS 

Greek parliament to probe 10 politicians over pharma scandal

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Greece’s parliament voted early today following a marathon 20-hour session to investigate 10 senior politicians, including two former prime ministers, over allegations they were involved in a pharmaceutical bribery scandal. The allegations follow a judicial investigation into bribes Swiss drugmaker Novartis allegedly paid to boost the sales and prices of its products in Greece. Officials in the government of left-wing Prime Minister Alexis Tsipras have described the alleged bribery scandal as the worst in modern Greek history. The politicians to be investigated include current central bank governor and former finance…

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NEWS CATEGORIES WORLD NEWS 

Trump Jr speech will send mistaken message: Democratic Senator

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A Democratic Senator has urged the US Ambassador to India to ensure that President Donald Trump’s son is not given any special treatment by the diplomatic mission during his ongoing India visit except that required for security. Senator Robert Menendez wrote a letter to Ambassador Kenneth Juster, saying he was concerned that a speech to be given by Donald J Trump Jr at business summit may send a “mistaken message that he is speaking on behalf of Donald Trump”. The 40-year-old Trump Jr is currently on a business trip in…

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Process of geo-tagging water sources in Himalayas initiated: Uma Bharti

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Union minister Uma Bharti today said the process for geo-tagging water sources in the Himalayas has been initiated and directions have been issued to identify springs in the region. The Drinking Water and Sanitation minister also said the Centre has decided to give Rs 27 crore to Uttarakhand for the implementation of projects such as Swajal and those related to making villages open defecation free (ODF). In a meeting with Chief Minister Trivendra Singh Rawat, she said Uttarakhand should prepare projects to restore ground water levels in the state, and…

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PNB fraud: Centre opposes plea for SIT probe

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The Centre today opposed in the Supreme Court a PIL seeking an independent probe and deportation of billionaire jeweller Nirav Modi in the over Rs 11,000 crore PNB fraud case, saying an FIR has been lodged and a probe was on. A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud said it would not say anything on the matter now and listed the PIL filed by lawyer Vineet Dhanda for further hearing on March 16. Attorney General K K Venugopal, appearing for the…

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LEGAL NEWS NEWS CATEGORIES 

SC allows Centre to withdraw force from Darjeeling hills

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The Supreme Court today allowed the Centre to withdraw the remaining four companies of Central Armed Police Forces (CAPF) from West Bengal’s violence hit Darjeeling area after March 8. A bench of Chief Justice Dipak Misra considered Attorney General K K Venugopal’s submission that the deployment of the central armed forces fell under the Central government’s administrative domain and allowed it to withdraw the remaining CAPF companies from Darjeeling area. The apex court also set aside the Calcutta High Court order that had restrained the Centre from withdrawing CAPF from…

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Badminton ace Lee was approached by match-fixer: report

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Lee Chong Wei has revealed he once rejected an offer by a match-fixer and said he was “ashamed” two fellow Malaysian badminton players were under investigation over alleged fixing, a report said today. World number two Lee said he was approached a few years ago, without giving further details. “Money is not everything to me,” he was cited as saying in Kuala Lumpur by Malaysia’s New Straits Times newspaper. “For me, national pride comes first and it is my responsibility to uphold it.” The 35-year-old’s revelation came after news emerged…

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