Nation
AAP legislator Manoj Kumar arrested
In an embarrassment to the Delhi government, AAP legislator Manoj Kumar was on Thursday arrested on charges of cheating and forgery, police said.
 
Manoj Kumar, elected from Kondli, was taken into custody in a case of alleged land grab.
 
He has seven cases against him, including one of assault, a police officer told IANS.
 
Manoj Kumar is among the 21 Aam Aadmi Party legislators against whom Delhi Police have reportedly decided to file chargesheets in connection with criminal cases registered against them in the national capital.
 
These 21 include Chief Minister Arvind Kejriwal, who faces three cases, as well as Deputy Chief Minister Manish Sisodia and Speaker Ram Niwas Goel.

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COMMENTS

Shirish Sadanand Shanbhag

1 year ago

Now a days, top rank politicians, having criminal case levied on them is not a news.
Good governance giving by untainted elected representatives is just impossible, which is apparent from Delhi Government and our Central Government.

Russia's Rosneft inks deal for 49 percent stake in Essar Oil
Russian oil major Rosneft has signed an initial "non-binding" memorandum with the Ruia family-led Essar group to buy 49 percent stake in Essar Oil's Vadinar refinery in Gujarat.
 
The deal has come at a time when India is taking part in the ongoing BRICS leaders' summit in Russia. 
 
The agreement, signed on Wednesday, is subject to regulatory approvals.
 
Rosneft and Essar Oil last December signed a contract for the Russian firm to supply 10 million tonnes of oil a year for 10 years.
 
"The performance of the terms of the signed documents will have a substantial impact on the scale of economic cooperation between Russia and India. The goods trade between the two countries will grow by more than 50 percent," Rosneft chairman Igor Sechin said in a statement.
 
Rosneft and Essar also plan to expand the Vadinar refinery annual capacity to 45 million tons by 2020 from the current 20 million tons, the statement said.
 
The deal includes a retail chain of 1,600 stations across India.
 
As of June 2015, Essar had on its books a debt of Rs.17,000 crore.
 
Last April, Essar Oil received the Reserve Bank of India's approval to raise external commercial borrowings up to $2.27 billion, to replace its rupee debt with low-cost dollar loans.
 
Essar said it has "signed a non-binding Term Sheet with regard to Rosneft's participation in the equity capital of Essar Oil Limited with a share of up to 49 percent."
 
The proposed transaction is conditional upon various factors such as due diligence, determination of the transaction price, execution of definitive transaction documents and receipt of requisite approvals, Essar said in a statement.
 
"Appropriate disclosures shall be made in accordance with applicable law as and when any definitive steps in relation to the aforesaid are undertaken," it added.

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Equity funds report second-highest inflows ever in June
A net inflow of Rs12,273 crore in June 2015 was the highest monthly inflow since January 2008, which recorded the highest ever
 
At a time when foreign investors have gone lukewarm in their Indian investments, Indian retail investors have turned extremely bullish and put in record amount in equity mutual fund schemes since the previous market high of January 2008. In June 2015, equity funds reported a net inflow of Rs12,273 crore. This is the highest inflow for a month since January 2008, when equity mutual funds reported a net inflow of Rs13,678 crore. Equity fund reported record sales in the month of June 2015 which touched Rs17,929 crore, the highest since July 2014. Redemptions increased to Rs5,656 crore in June 2015 from Rs3,943 crore in May 2015.
 
The strong inflows in mutual funds are in contrast to the outflow by foreign institutional investors. In the month of June itself, FIIs sold as much as Rs5,500 crore. Backed by the strong inflows from retail investors, mutual funds invested Rs10,325 crore in stocks.
 
 
 
Mutual fund investors usually buy high and sell low, getting carried away by investing when the market is hot. This was seen in the 2007-08 period when as much as Rs47,000 crore flowed in to equity mutual funds. This was a time when the markets were commanding an extremely high valuation. Though not as high as last time, this time too, the Nifty is trading at a high price-to-earnings of 23 times.
 
In the quarter ended June 2015, investors put in as much as Rs32,933 crore in equity schemes. This is the highest inflows ever for any three month period. The previous highest inflows was of Rs27,966 crore for the quarter ended March 2008. Over the past 12 months, investors have put in as much as Rs95,047 crore in equity schemes.
 
Interestingly, there were only two new fund offers in the month of June 2015, bringing in just 104 crore. Equity linked savings schemes brought in a net inflow Rs274 crore. 
 
Equity schemes added as many as 308,972 accounts (or folios) in the month of June 2015, taking the total number of folios to 32.58 million. As many as 3.32 million folios were added in the past 12 months. In June 2015, assets of equity schemes grew by Rs7,147 crore to Rs3.72 lakh crore, backed by strong inflows.
 

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