The CBI said that Mr Behura should not have followed the orders of the then telecom minister A Raja, who is the key accused in the case, if they were not in accordance with the law
New Delhi: A Delhi court on Friday reserved its order on the bail plea of former telecom secretary Siddhartha Behura, an accused in the second generation (2G) spectrum allocation case, reports PTI.
“Put up for order on 3rd June,” special Central Bureau of Investigation (CBI) judge OP Saini said after the arguments on Mr Behura’s bail plea were concluded.
During the arguments, the CBI said that Mr Behura should not have followed the orders of the then telecom minister A Raja, who is the key accused in the case, if they were not in accordance with the law.
“He (Mr Behura) was not obliged to follow the orders of the minister (Mr Raja), if they were not in accordance with the law,” CBI prosecutor AK Singh said.
Senior advocate Aman Lekhi, appearing for Mr Behura, countered the CBI’s submissions saying his client was only performing his duties, being the secretary of the Department of Telecommunication (DoT).
The agency had earlier said Mr Behura did not put any check and balance on Mr Raja’s “misdeeds” during grant of licences despite having highest executive powers in the DoT.
The CBI had also opposed Mr Behura’s plea that the prime minister was informed by Mr Raja through letters about the process of grant of licences, saying mere informing him did not mean that he got the consent on the issue.
The agency had pointed out that Mr Behura had played an active role in giving licences to Swan Telecom, promoted by Shahid Usman Balwa, despite its ineligibility.
Mr Behura is lodged in Tihar Jail along with 12 other accused persons including Mr Raja, DMK MP Kanimozhi and Shahid Usman Balwa.
Under the ‘cease and desist’ order, NSE will have to stop subsidising its currency derivative operations. The CCI on Wednesday pronounced NSE guilty of abusing its dominant market position and adopting unfair trade practices in currency derivatives trading
New Delhi: The Competition Commission of India (CCI) is likely to issue a ‘cease and desist’ order shortly against the National Stock Exchange (NSE) to stop the country’s premier bourse from subsidising its currency derivative (CD) operations.
“The Competition Commission will serve the final order to NSE by 2nd or 3rd June under Section 27 of the Competition Act 2002,” sources close to the development told PTI.
The CCI on Wednesday pronounced NSE guilty of abusing its dominant market position and adopting unfair trade practices in currency derivatives trading.
Sources said that under Section 27, the CCI can issue ‘cease and desist’ order to refrain the company from pursuing any anti-competitive practices.
“Under the order, NSE will have to stop subsidising its currency derivative operations.” they added.
The CCI’s final order will be issued after NSE files a reply to the show-cause notice. Based on the response, the CCI will decide on the quantum of fine to be imposed on NSE.
MCX-SX, promoted by commodity exchange MCX and Financial Technologies, had alleged before the CCI that NSE substantially reduced admission and trade related fees to eliminate competition and discourage other entities from entering the market.
The CCI’s Wednesday order said, “It can be said that the two relevant markets (currency and non-currency derivatives segments) have associational links. Therefore, it is concluded that NSE has used its position of strength in the non CD segment to protect its position in the CD segment.”
An investigation report of the CCI director general had found NSE used its dominant position and original monopoly in equity, F&O (Future and Options) and WDM (Wholesale Debt Market) markets to protect its position in the CD market.
MCX-SX had argued that all market segments such as equity and currency derivatives are related while NSE had argued that these different segments are actually different markets.
CCI is believed to have gone by NSE’s view on this issue by concurring that segments like equity and currency derivatives may be related but are different markets.
In the recent past, MCX-SX has been leading over NSE in currency derivative segment although NSE has a dominant position in the overall market.
While there was no official confirmation, sources said that CCI’s order against NSE was based on a majority view of its members and not by consensus.
Mobile phone advertisers are quite literally trying to outshout each other through ads that are mostly irritating and intolerable and Samsung Mobile tops the heap
It's been pouring mobile phone ads on our small screens for some time now. And the noise levels have gone through the roof, especially after number portability and 3G arrived. And of course, every time that there's a new cell phone model launched in the market.
Most of these ads are quite irritating and intolerable, as the advertisers literally get down to outshouting each other, seriously shooting up the sales of migraine tablets. At the top of the heap in the current blast on TV is Samsung Mobile. They have released three new commercials, and frankly I am unable to decide which one gets my goat faster. These ads are meant to sell their new handsets called Hero 3G, Galaxy Ace and Galaxy Pro.
The Hero 3G ad must be the worst of the lot. A bunch of guys have taken to skydiving. And as they float, dive and dance in the air, what do they do? No, they don't romance, they don't palpitate, they don't sing, they don't bond… instead, they discuss features of Samsung Mobile Hero 3G! No, I swear I kid you not. Can you even think of more incredible and nonsensical advertising? I certainly cannot.
Also, there's another thing that didn't strike the makers of this ad. Already, most users of 3G are unhappy with connectivity and clarity of sound. And in this commercial, the youngsters scream and shout in order to be heard! When what they ought to have been doing is whispering to each other, even if they were compelled to whisper features of the phone. That may have salvaged this commercial a wee bit.
The other two ads that sell Samsung's so-called smart phones are even less smart. A bunch of hip dudes and hot gals hold up the phones to the camera, and talk about the assorted phone features and applications! And they do it in a sing-song manner, hoping that the gimmick would have the viewers dying to watch this tamasha.
If it still hasn't occurred to you yet, Samsung Mobile has actually put out enormously boring product brochures in their television ads. In this day and age of heavy noise and massive ad clutter on the idiot box, it defies logic.
Only one question remains to be asked: How can a smart phone be backed by such inane advertising? How smart can the phone be with that sort of a resume?