Citizens' Issues
Ansal brothers fined Rs30 crore each, no more prison

Sushil Ansal has undergone a sentence of five months and 20 days and Gopal Ansal four months and 20 days


In a breather to Ansal brothers Sushil and Gopal, accused in the 1997 Uphaar fire tragedy case, the Supreme Court on Wednesday fined them Rs.30 crore each. They won't have to return to jail.
The court said the Ansals, the real estate giants, would deposit the fine in three months and this amount would be utilised by the Delhi government.
The fine would be accompanied by the jail sentence the brothers have already undergone for the Uphaar fire tragedy of June 13, 1997 that left 59 people dead.
The apex court bench of Justice Anil R. Dave, Justice Kurian Joseph and Justice Adarsh Kumar Goel passed Wednesday's order.
It reduced the fine of Rs.50 crore imposed on each of the brothers by Justice Gyan Sudha Misra (since retired) in a split verdict who differed with the verdict of Justice T.S. Thakur. 
Sushil Ansal has undergone a sentence of five months and 20 days and Gopal Ansal four months and 20 days. 
Though the trial court had awarded them two years sentence each, the Delhi High court reduced it to one year each.
The Ansal brothers owned the Uphaar cinema in south Delhi where 59 people died due to asphyxiation after a fire broke out in the transformer room, emitting toxic gases. 
The deaths occurred as people could not escape as the exit doors were closed. There was only one operational exit door. 
The apex court bench of Justice Thakur and Justice Misra by their March 5, 2014 verdict, while upholding the conviction of Ansal brothers, differed on the quantum of sentence. 
The matter was then referred to a three-judge bench to decide on the quantum of sentence.
Justice Thakur, upholding the Delhi High Court verdict, said the Ansal brothers would undergo a sentence of one year each as awarded by the high court.
Justice Misra, while holding that Ansal brothers deserve "no leniency", said they should undergo the maximum sentence of two years as provided under Section 304A of the IPC.
Justice Misra substituted the second year sentence with a fine of Rs.100 crore to be divided equally between the two brothers which, she said, would be used for setting up trauma centre in Dwarka.



Vaibhav Dhoka

1 year ago

Supreme court has set up new trend by this verdict that you can settle your criminal case by monetary payment.By this no affluent person will ever get convicted and land in jail.And ordinary and less affluent will never be out.All courts should take clue from Supreme court and settle matter and it will reduce delay in dispensation of justice.Or Judicial system be divided as per monetary payment capacity of litigant.As mightiness can get early justice and ordinary person will further crippled at hand of Judiciary.

CBI registers disproportionate assets case against Raja, 16 others; conducts raids

According to the CBI, Raja was biased in allocating 2G mobile airwaves and operating licences to telecom firms, causing a huge loss to the state exchequer


The CBI on Wednesday registered a disproportionate assets case against former telecom minister A. Raja and 16 others and conducted raids at 20 places in Delhi and Tamil Nadu.
"It is alleged that he (Raja) and other accused persons have amassed assets disproportionate to their known sources of income. Searches are being carried out at 20 places in Delhi, Chennai, Perambalur, Tiruchirappalli and Coimbatore," a CBI official said in New Delhi.
"The cases have been registered against Raja, his brother and his wife and the wife of Sadiq Batcha, (a former Raja aide and accused in the 2G spectrum allocation case and who was found dead in his house under mysterious circumstances in March 2011), among others, a CBI official said in Chenna
On April 15, the CBI commenced the final argument in the case alleging that Raja misled then prime minister Manmohan Singh on policy matters related to 2G spectrum allocation.
According to the CBI, Raja was biased in allocating 2G mobile airwaves and operating licences to telecom firms, causing a huge loss to the state exchequer.
The court framed charges on October 22, 2011, against 14 accused and three companies under various provisions of the Indian Penal Code and the Prevention of Corruption Act.
All the accused, including Raja, are out on bail.


Nifty, Sensex headed sideways with a negative bias – Wednesday closing report
If Nifty decisively crosses 8,530, bulls have a chance
We had mentioned in Tuesday’s closing report that Nifty, Sensex are precariously poised and that if Nifty is unable to head above 8,550, it may head lower. The major indices in the Indian stock market recovered to close with marginal gains. Bank Nifty, which had closed higher on Tuesday, failed to sustain its gains and closed lower in today’s trading. 
The S&P BSE Sensex, which opened at 27,851.81 points, closed at 27,931.64 points -- up 100.10 points or 0.36% from the previous day's close at 27,831.54 points. The Sensex touched a high of 28,021.39 points and a low of 27,721.25 points in the intra-day trade.
According to analysts, recovery in rupee value and the Chinese markets supported the domestic exchanges in the day's trade. 
Concerns had grown about the Chinese markets, after various efforts by the government, brokerage firms and mutual funds were not able to arrest the fall.
Some estimates point out that the continuous slide in the exchanges of the $10-trillion strong economy has wiped off 40%-45% of the entire stock value in the last three months. 
The Chinese situation has brightened hopes of a delay in the US rate hike, the decision for which will come in the Federal Open Market Committee (FOMC) meet slated for September 16-17.
Higher interest rates in the US are expected to lead the FPIs (Foreign Portfolio Investors) away from emerging markets such as India.
Other concerns such as rupee depreciation were off-set by gains in export-oriented stocks like information technology (IT), pharma and fast moving consumer goods (FMCG). These sectors benefit from the Indian rupee's devaluation and fall in commodity costs.
The Indian rupee touched a new two-year low of Rs65.44 per dollar during the intra-day trade on Wednesday. Notwithstanding the slide, the rupee gained strength later in trade and closed at Rs65.24 per dollar.
Sector-wise, buying was observed in healthcare, consumer durables, capital goods, automobiles and information technology (IT) stocks. However, metals, banks, realty oil and gas and power sectors came under selling pressure.
The S&P BSE healthcare index rocketed by 470.17 points, consumer durables index zoomed by 160.37 points, capital goods index augmented by 91.65 points, automobile index gained by 90.31 points and IT index rose by 84.47 points.
On the other hand, the S&P BSE metal index was down by 103.51 points, bank index receded by 99.01 points, realty index declined by 14.26 points, oil and gas index lost 10.24 points and power index slipped by 1 point.
Major Sensex gainers during Wednesday's trade were: Sun Pharma, up 4.32% at Rs927.25; Lupin, up 2.28% at Rs1,795.35; Wipro, up 2.15% at Rs583.60; Hero MotoCorp, up 1.82% at Rs2,690; and Cipla, up 1.79% at Rs695.90.
The major Sensex losers were: Hindalco Inds, down 3.14% at Rs86.30; State Bank of India (SBI), down 2.08% at Rs278.05; Coal India, down 1.96% at Rs356.90; Axis Bank, down 1.13% at Rs554.60; and NTPC, down 0.94% at Rs126.10.
The top gainers and losers in the major indices in the stock market are given in the table below:
The closing values of major Asian indices are given in the table below:


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