Citizens' Issues
Charges framed against Tytler, businessman in forgery case
A Delhi court on Wednesday framed charges against Congress leader Jagdish Tytler and arms dealer Abhishek Verma, accused of forging a letter addressed to then prime minister Manmohan Singh in 2009.
 
Central Bureau of Investigation Special Judge Anju Bajaj Chandna framed charges dealing with cheating, forgery, criminal conspiracy of Indian Penal Code and under provisions of Prevention of Corruption Act.
 
Tytler and Verma pleaded not guilty and claimed innocence in the case.
 
The case was filed on a complaint of the then minister of state for home Ajay Maken that a forged letter on his letterhead was written to the prime minister by businessman Abhishek Verma seeking easing of business visa norms in 2009.
 
Tytler and Verma were charge sheeted under the IPC in the case for the offence of attempting to cheat and under the Prevention of Corruption Act.
 
The CBI has alleged that Tytler had "actively connived" with Verma to cheat a Chinese telecom firm and the Congress leader had first shown a "fake and forged" letter to the company's officials, claiming it was written by Maken to the prime minister.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Rajya Sabha proceedings stalled over National Herald case
The Rajya Sabha on Wednesday witnessed repeated adjournments in the pre-lunch session after the Congress members created a ruckus over the National Herald case for the second consecutive day and the BJD members protested over the Polavaram project.
 
Chairman Hamid Ansari adjourned the house till 2.00 p.m. when it assembled at 12.15 p.m. after three brief adjournments.
 
Soon after the house assembled for the day, Congress members stormed the chairman's podium raising the issue of summons to party president Sonia Gandhi and vice president Rahul Gandhi in the National Herald case.
 
The Congress members shouted slogans against Prime Minister Narendra Modi.
 
Members of the Biju Janata Dal (BJD) also protested against the ruling Bharatiya Janata Party on the Polavaram project, a multi-purpose dam in Andhra Pradesh whose reservoir spreads into parts of Odisha and Chhattisgarh.
 
They trooped bear the chairman's podium and held placards demanding that the Polavaram Dam project be stopped.
 
Amid the din, Deputy Chairman P.J. Kurien adjourned the house till 11.30 a.m.
 
When the house reassembled, Congress and BJD members went close to the speaker's chair and shouted slogans.
 
Congress members were shouting slogans like "Modi teri tanashahi nahi chalegi, nahi chalegi."
 
Meanwhile, Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi said: "The Congress party is stalling the development of the county. Whistleblowers protection bill and ST/SC (prevention of atrocities) amendment bill are listed in today's business."
 
He said that the government is ready to discuss any issue on the floor of the house.
 
"If the Congress party feels any kind of discrimination, we are ready to discuss. They are protesting inside and outside parliament and disrupting government's development agenda," he said.
 
Leader of Opposition Ghulam Nabi Azad said: "We want discussions against Chhattisgarh and Madhya Pradesh governments."
 
As the ruckus continued, Kurien adjourned the house till 12 noon.
 
At 12 noon, similar scenes were witnessed and Chairman Hamid Ansari adjourned the house till 12.15 p.m and then till 2.00 p.m.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Stock manipulation: Mahanivesh (India) Ltd
Mahanivesh shot up by 502% between March 2014 and December 2015
 
Mahanivesh is supposedly into arranging ‘project finance’ and investments. But its main income is from trading. In September 2015, the company’s management decided to pursue the fad of the decade—e-commerce—and decided to change the name of the company. 
 
For the year ended September 2015 Mahanivesh reported revenue of Rs51.66 crore, up from Rs49.67 crore (just 4%) for the comparable period last year. But it reported a net loss of Rs2 lakh for the year ended September 2015, and net loss of Rs30,000 for the year ended September 2014. 
 
Despite virtually no profits being generated over the past three years, the stock shot up by 502%, to Rs514 on 2 December 2015, from Rs85 on 22 March 2014. In fact, the stock staged a continuous rally of 614%, from Rs98 on 13 October 2014 to an intra-day high of Rs700 on 13 November 2015. However, since then, the stock price has been on a decline. It has fallen nearly 26% from the peak. The stock has averaged just about 12 trades a day from March 2014 to November 2015. In the 79 days that the stock was traded, of the four-month period ended November 2015, on an average, just one to four trades per day were conducted. As on 30 September 2015, Mahanivesh had just 243 shareholders. 
 
In 2007, the company was suspended by the Bombay Stock Exchange for not complying with the listing agreement. Will the regulator investigate this suspicious trading activity?

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