Citizens' Issues
Arvind Panagariya to be first NITI Aayog Vice-Chairman

The Columbia University professor will take over as the Vice-Chairman of the newly form body, which will come under the PMO


Laying to rest and confirming all speculation, the Prime Minister's Office announced today the people who will be a part of the newly formed think thank and Planning Commission successor, NITI Aayog.


The body will be headed by the Prime Minister as its Chairman and will have Arvind Panagariya as its Vice Chairman.


Following is the list of all appointees as per the PMO statement:

Vice Chairman - Arvind Panagariya, Economist

Full-Time Members

  • • Bibek Debroy, Economist

  • • Dr. V.K. Saraswat, Former Secretary Defence R&D

Ex-officio members

  • • Rajnath Singh, Union Minister

  • • Arun Jaitley, Union Minister

  • • Suresh Prabhu, Union Minister

  • • Radha Mohan Singh, Union Minister

Special Invitees

  • • Nitin Gadkari, Union Minister

  • • Thawar Chand Gehlot, Union Minister

  • • Smriti Zubin Irani, Union Minister


IRB shares close lower by 8.43% on reports of CBI raid

The CBI has conducted raids on various offices of IRB Infrastructure Developers, in Pune and Mumbai


The Central Bureau of Investigation (CBI) conducted raids on various offices of IRB Infrastructure Developers, in connection with land grab cases filed against IRB and its Chairman Virendra Mhaiskar, by the murdered Right To Information (RTI) activist Satish Shetty. While the share saw an intra-day fall of a little over 10%, it closed the day down by 8.43%.


As Moneylife has written before , Shetty's case was suspiciously closed after over 4 years of investigations by the CBI. Shetty was murdered on 13 February 2010.


After the closure report in the case was filed by the CBI, it is now re-investigating the land grab accusations against IRB and its head. CNBC TV18 reported that the Bombay HC had allowed the CBI to re-investigate the land grab cases in the interest of justice.


Shetty was said to have been murdered for his refusal to take back the cases he had filed. The CBI's report had also said that IRB had offered Shetty Rs2 crore to take back the cases he had filed.


CBI's report in the murder investigation had said the following, “Investigations by CBI revealed that the deceased had filed a number of complaints against Smt Ashiwini Kshirsagar, the then Sub-Registrar at Lonavala, for illegally registering Government land on the basis of false documents. The deceased had filed a complaint on 16 September 2009 with the Superintendent of Police (SP) of Pune Rural, against Smt Kshirsagar and others, for registering government land on the basis of bogus documents. Therefore, on 15 October 2009, on the fresh complaint of the deceased CR no152/2009 a case u/s420, 467, 468, 469, 471 and 34 of IPC was registered at Lonavala City Police Station against Virendra Mhaiskar, director of Aryan Infrastructure Investment Pvt Ltd and 12 others regarding illegal purchase of government land in Pimpaloli village and Ozarde village, Maval taluka, Dist. Pune on the basis of fake and forged documents in connivance with Ashwini Kshirsagar, the then sub-registrar, Lonavala, who was also cited as an accused in the said FIR.”


NTT DoCoMo drags Tata Tele to arbitration over stake buy

NTT DoCoMo said Tata Teleservices had failed to honour its commitment to buy the 26% stake held by the Japanese company.


Japanese company NTT DoCoMo has filed an arbitration proceeding with the London Court of International Arbitration, against Tata Teleservices.


NTT DoCoMo alleges that Tata Tele did not honour its commitment to buy the 26% stake held by the Japanese company in its joint venture with Tata Tele. The telecom venture operates under the brand Tata DoCoMo.


NTT DoCoMo had announced its intention of exiting the JV with Tata Tele in April last year. As per the terms of the JV, the Indian partner had the first right of refusal on the stake, which it exercised and agreed to buy the stake.


Due to various issues the deal has as yet not been concluded. Tata Tele reportedly was waiting for a response on an application made to the Reserve Bank of India to proceed in the matter.


The 26% stake was valued at Rs7,250 crore, and NTT DoCoMo had initially picked up the stake for $2.3 billion.


The Business Standard newspaper quoted a Tata Teleservices spokesperson as saying that the company was committed to fulfilling the obligations and find an amicable solution to the issue.


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