15-day fast may go beyond the period: Arvind Kejriwal

The Delhi Police offered 21 days and later the two sides agreed on 15 days but that can be reviewed and the protest can be prolonged depending on what the government does on the demands put forward by Anna Hazare, Mr Kejriwal said

New Delhi: Team Anna Hazare today said the 15-day fast for a strong Lokpal Bill may go beyond the period depending upon the government's response to the agitation, reports PTI.

Mr Hazare's associate and RTI activist Arvind Kejriwal said the 73-year-old Gandhian was actually planning a longer programme for the protest fast but there was a legal problem.

The Delhi Police offered 21 days and later the two sides agreed on 15 days but that can be reviewed and the protest can be prolonged depending on what the government does on the demands put forward by Mr Hazare, he said.

Mr Hazare, who began his fast on 16th August, has been demanding acceptance by the government of the Jan Lokpal Bill that would bring within its ambit the prime minister, higher judiciary and the conduct of MPs within Parliament besides other provisions.

Mr Kejriwal said Mr Hazare's health was fine and was not a matter of concern.

He said Mr Hazare will leave Tihar Jail at about 11am for Ramlila Maidan.

Mr Hazare, who has been in Tihar Jail since 16th August, will go in a car to the Ramlila Maidan, he said.

"He should leave around 11am," Mr Kejriwal said.

Asked if statements coming out that Mr Hazare's fast is indefinite and not a fast unto death was a climb-down, Mr Kejriwal said, "There is no climb-down. Anna Hazare never used the word fast unto death. It is an indefinite fast. Anna used the word indefinite because it is more spiritual. Fast unto death seems a little more in the connotation of blackmail."

He blamed the media for using the word 'fast unto death'.

Replying to questions about the possibility of certain organisations and individuals supporting the movement becoming violent, he said, "You have seen the movement so far remaining non-violent. This shows the spirituality of the entire movement."

Mr Kejriwal said it is the responsibility of the administration to take precautions so that anti-social elements don't penetrate the movement.

"If at all anything happens, I assure you that its not by the people, it will be by some people who try to create disturbance. Police need to keep a watch on that. We have told everyone that if you see someone doing that, please immediately ask the person to stop," he said.

Talking about the preparations on the ground, Mr Kejriwal said no grand preparations are being planned and things will be set up as the fast goes.

Large number of persons have turned up at the jail to welcome the anti-corruption crusader's release.

Though release orders for Mr Hazare were issued soon after he reached Tihar, the Gandhian refused to come out unless allowed to hold his fast unconditionally.

Later, his team had reached an agreement with the government yesterday under which Delhi Police had removed all restrictions and allowed him to carry out his hunger strike for a fortnight in the spacious Ramlila Maidan here.

Police personnel have been deployed around the jail and even a helicopter has been pressed into service.

Another associate Kiran Bedi said the Delhi Police commissioner has agreed to grant them further extension if asked for.

"There is no ban on number of days. All restrictive conditions have been removed. We have got an open permission to hold peaceful protest," Ms Bedi told reporters outside the jail.

Ms Bedi told reporters that Mr Hazare will go in a procession from the jail to Mayapuri, a distance of about 4-5km and then drive down to Rajghat. From there he will go to India Gate in central Delhi before moving to Ramlila Grounds, a short distance from there.

She appealed to the supporters not to block roads and traffic.

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COMMENTS

rajnish

5 years ago

arvind ji I have became your follower and want to meet with youand participate in your movement.

SEBI cancels Aegon’s mutual fund licence

“At the request of Aegon Mutual Fund, SEBI has cancelled the certificate of registration of Aegon Mutual Fund and has withdrawn the approval granted to Aegon Asset Management Company Pvt Ltd to act as the Asset Management Company,” SEBI said in a statement

New Delhi: Market regulator Securities and Exchange Board of India (SEBI) yesterday said it has cancelled registration of Dutch financial services group Aegon to operate mutual fund business in the country, reports PTI.

Aegon had approached SEBI seeking cancellation of its licence.

“At the request of Aegon Mutual Fund, SEBI has cancelled the certificate of registration of Aegon Mutual Fund and has withdrawn the approval granted to Aegon Asset Management Company Pvt Ltd to act as the Asset Management Company,” SEBI said in a statement.

With immediate effect, Aegon Mutual Fund, Aegon Trustee Company Pvt Ltd and Aegon Asset Management Company Pvt Ltd cannot carry out any activity as a mutual fund, trustee company and asset management company respectively, it added.

In 2008 Aegon got SEBI approval to launch asset management business in India in partnership with Religare Enterprises.

However, barely a month after that the Dutch financial services firm and Religare Enterprises decided to part ways.

A host of asset management companies in the 41 member mutual fund industry currently has foreign partner. As at the end of June quarter, the industry managed average assets worth Rs7.43 lakh crore.

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Morgan Stanley cuts India Sensex forecast on earnings outlook

The brokerage also reduced its forecast for India’s 2012 gross domestic product (GDP) growth to 7.4% from 7.8% and its estimate for the fiscal year ending 31 March 2013, to 7.6% from 8%

New Delhi: Morgan Stanley on Thursday cut its year-end target for the Bombay Stock Exchange Sensitive Index (Sensex) by 15% to 18,850, saying the country’s economic growth and corporate earnings will slow, reports PTI.

The brokerage also reduced its forecast for India’s 2012 gross domestic product (GDP) growth to 7.4% from 7.8% and its estimate for the fiscal year ending 31 March 2013, to 7.6% from 8%.

“We believe a combination of factors—including persistently high inflation, higher cost of capital, cut in the ratio of fiscal spending to GDP, a weak global capital markets environment and slow pace of investment—will cause a further slowdown in growth,” analysts Chetan Ahya and Upasana Chachra wrote in the report.

The Sensex fell 1.3% to 16,617.42 at 11:15am yesterday. The gauge tumbled as low as 16,432 on 9th August, capping a 20% drop from its November peak, a level some investors consider a bear market, on concern that debt crises in the US and Europe will slow the global economic recovery and rising borrowing costs in India will hurt corporate profits. The index closed last year at 20,509.09, about 8% higher than Morgan Stanley’s forecast for this year-end.

“We think broad market earnings growth may have troughed,” Morgan Stanley analysts led by Ridham Desai wrote in a separate research note. “Lower share prices are affecting growth and vice versa.”

Earnings for 46% of Sensex companies lagged behind analyst estimates in the three months ended June, according to Bloomberg data. That compares with 33% that missed forecasts in the previous quarter. The Sensex trades at 13.8 times estimated earnings, the lowest since May 2009, and down from 21.5 times in March 2010.

“Earnings have support from decade-low gross margins and strong balance sheets, but face headwinds from fragile global growth,” the note said.

Morgan Stanley’s top stock picks include drugmaker Dr Reddy’s Laboratories, Infosys, the nation’s second-largest software maker, and sports-utility vehicle maker Mahindra & Mahindra, the note said.

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