Citizens' Issues
Black Money trail: Not all information can be disclosed, says govt
In an application before the Supreme Court, the Modi government said that the foreign countries, with which India has signed double taxation avoidance agreement, have objected to disclosing information on black money
 
The Indian government on Friday submitted before the Supreme Court that all the information on black money received from foreign countries, with which the country had double taxation avoidance agreement, cannot be disclosed.
 
In its application, the Centre said that the foreign countries have objected to disclosing such information and if such details are revealed then no other country would sign such an agreement with India.
 
Appearing before a bench headed by Chief Justice HL Dattu, Attorney General Mukul Rohatgi mentioned the issue and pleaded for an urgent hearing.
 
Senior advocate Ram Jethmalani on whose plea the apex court had constituted Special Investigating Team (SIT) on black money, strongly objected to the stand taken by the Centre and said that matter be not heard.
 
"Matter should not be entertained even for a day. Such application should have been made by the culprits and not by the government," Jethmalani said, adding that Centre is trying to protect the people who have stashed black money in foreign banks.
 
Jethmalani said that he has written a letter to Prime Minister Narendra Modi on this issue and his response is awaited.
 
The apex court had constituted the SIT headed by its former judge MB Shah on a plea of Jethmalani, who had moved the court for the purpose of getting black money back to the country.
 
It had appointed its retired judges MB Shah as the Chairman and Arijit Pasayat as the Vice Chairman of the SIT for providing guidance and direction in the investigation of all cases of black money in the country and abroad.

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COMMENTS

Kiran Aggarwal

2 years ago

The Indian Govt. is feeding Indian Masses a big lie.

There is a history of Corrupt Govts :all over the world and they have been proved that they were lying at one stage or the another .

I wonder Do we Indians now Have to
go UBS bank in Switzerland and talk to Key personnel over there ?

Black Money recovery is not impossible .
USA has arm twisted Swiss Banks and recovered great sum just 2 years back .
Another instance of abdication of duty by BJP govt :
Technical difficulty is real or unreal , and if this is a real difficulty , then what resolve and comittment the govt . is showoing.
Mind it - 40 crore people are living in inhuman condition in this country
Poverty Index-27 %
Only Raj babbar can eat food in Rs 5

DLF files appeal against SEBI order
DLF has filed an appeal with the Securities Appellate Tribunal –SAT against the ban, imposed by SEBI, on tapping capital markets for three years
 
DLF Ltd on Friday filed an appeal before the Securities Appellate Tribunal (SAT) against an order issued by Securities and Exchange Board of India (SEBI) barring the real estate company and its promoter, directors and top executives from capital markets.
 
The appeal is likely to be heard by SAT next week.
 
In a major blow to DLF, SEBI on Monday barred DLF and its directors including promoter KP Singh for failure to make appropriate disclosures in its prospectus at the time of its second IPO in 2007.
 
While the regulator did not impose any monetary penalty, the prohibition has barred DLF and the six persons, from any sale, purchase or any other dealings in securities markets for a period of three years, including for raising funds.
 
DLF had debt of more than Rs19,000 crore as on 30 June 2014, while its already-proposed fund raising plans include nearly Rs3,500 crore through issue of certain bonds to replace its costlier debt.
 
This was one of the rare orders by SEBI where it has barred a blue-chip company and its top promoter and executives from the market.
 
DLF is the largest real estate group in the country with nearly Rs10,000 crore annual turnover.
 
DLF's IPO in 2007 had fetched Rs9,187 crore -- the biggest IPO in the country at that time.
 
The current action of SEBI stems from a complaint filed by a Delhi-based businessman. In 2007, Kimsuk Krishna Sinha, had alleged that DLF and its directors and agents had lured and compelled him to transfer certain plots of land and did not fulfil the promise of developing the land and providing him higher returns. Other than KP Singh, who is the executive chairman of DLF, SEBI barred Rajiv Singh, vice chairman and son of KP Singh, TC Goyal, managing director, Pia Singh, whole time director and younger daughter of the DLF chief, Kameshwar Swarup, executive director for legal, GS Talwar, director and son-in-law of KP Singh and Ramesh Sanka, chief financial officer (CFO) of DLF.
 

 

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Jayalalitha gets interim bail from Supreme Court

Jayalalitha gets interim bail from Supreme Court

 

The Supreme Court on Friday granted interim bail to Tamil Nadu’s former Chief Minster J Jayalalitha. Earlier, Jayalalithaa was denied bail by the Karnataka High Court. She is in jail following her conviction in a disproportionate assets case. The sentence entails a four-year sentence and a Rs100 crore fine.

 

Jayalalitha has been seeking bail on the grounds that she is a senior citizen, aged 66, and a woman with failing health. In its order today, the Supreme Court also suspended Jayalalitha's sentence.

 

The Hindustan Times newspaper reported that the Supreme Court has laid down the law such that, a convicted person can contest election if the conviction and sentence are stayed by the SC. However, her conviction has not been stayed and merely suspended.

 

This interim order comes with the condition that Jayalalitha must submit her paperbook (to the HC where the appeal against conviction will next be heard) required for the bail application, within two months from today.

 

Reports suggest that Jayalalitha, through her counsel Fali Nariman, gave various assurances to the Supreme Court, like not asking for adjournments from the HC, being confined to her house while pressing for bail and making sure her party workers do not resort to any violence in Tamil Nadu. The bail is applicable till 18 December 2014.

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COMMENTS

Barath Kawin

2 years ago

Indian justice favours corruptors..
All money matters. lost faith in judiciary.. only common man become victims.. No god , no justice exists.

REPLY

Jamshed Ansari

In Reply to Barath Kawin 2 years ago

Democracy is of the people, for the people and by the people. Its all about people.
People may do anything to improve the system, only commenting doesnt work.
I had filed a PIL in SC challenging the Governorship of ex CJI Justice P. Sathashivam but SC dismissed today without giving any reason. I am not worrying for this, I feel happy coz atleast I have tried.

Jamshed Ansari

In Reply to Barath Kawin 2 years ago

Democracy is of the people, for the people and by the people. Its all about people.
People may do anything to improve the system, only commenting doesnt work.
I had filed a PIL in SC challenging the Governorship of ex CJI Justice P. Sathashivam but SC dismissed today without giving any reason. I am not worrying for this, I feel happy coz atleast I have tried.

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