Right to Information
CIC orders disclosure of Sheila Dikshit indictment by Lokayukta

The CIC has ordered disclosure of information on the action taken against Dikshit and Chauhan for overruling their officers for their photo-publicity and self-glorification through loan-application-forms for Dilli Swarojgar Yojna

 

The Central Information Commission (CIC) has directed the Delhi Government to make public details of indictment of the then Chief Minister Sheila Dikshit by Lokayukta Manmohan Sarin for printing their photographs on loan applications for Dilli Swarojgar Yojna.

 

The order says comments of President Pranab Mukherjee on the issue should also be provided to activist Subhash Agrawal who had sought the information under the Right to Information (RTI) Act.

 

The case related to publication of photographs of Dikshit on a government scheme loan forms on which Delhi Lokayukta Manmohan Sarin had indicted her government. The recommendation was rejected by the then President Pratibha Patil.

 

Later Sarin asked President Pranab Mukherjee to issue an advisory to Dikshit and the then PWD Minister Raj Kumar Chauhan asking them to desist from putting their photographs on application forms offering loan at low rates to entrepreneurs from SC, ST, OBC and minority communities under 'Dilli Swarojgar Yojna'.

 

The President had referred the matter to Home Ministry for necessary action and issue of an advisory.

 

In a letter to Lokayukta last year, Home Ministry conveyed Mukherjee's directions and also said there was no need to put photographs of the Chief Minister and Minister-in-charge on loan applications.

 

The CIC has ordered disclosure of information on the action taken against Dikshit and Chauhan for overruling their officers for their photo-publicity and self-glorification through loan-application-forms.

 

Information Commissioner Sridhar Acharyulu after hearing the submissions made by Delhi Government and Agrawal directed the public information office to "furnish information against point 5 and 8 to 12 of the RTI application".

 

"Copy of rules/procedures/norms etc about action to be taken by Delhi government on observations/strictures of President of India on a report of Delhi Lokayukt mentioning if observations/strictures of President of India are binding for Delhi government," said one of the points on which CIC ordered disclosure of information.

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MCA extends Company Law Settlement Scheme till 15th November

The one month extension, till 15th November, would allow companies to file their pending annual documents without attracting higher fees or fine and other penal action

 

The Ministry of Corporate Affairs (MCA) has extended the Company Law Settlement Scheme by one month to 15 November 2014. This would allow companies to file their pending annual documents without attracting higher fees or fine and other penal action.

 

“We are happy that this one month period would be of immense help for the members and the Corporates in filing their belated documents. Also, the defaulting companies which avail the scheme ,and file all belated documents, the provisions related to disqualification of directors u/s 164 (2) (a) shall apply only for prospective defaults, if any, by such companies,” said K Raghu, President, Institute of Chartered Accountants of India (ICAI).

 

Earlier, the MCA has mandated companies to file documents under the Company Law Settlement Scheme till 15th October.

 

After considering requests received from various stakeholders including the ICAI, the MCA has decided to extend the Company Law Settlement Scheme up to 15 November 2014.

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Stock Manipulation: Parab Infra

The stock price of Parab Infra shot up by 580%, to Rs171.25 on 1 October 2014, from Rs25 on 11 February 2013

 

Parab Infra was previously known as Pacheli Enteprises. This is not the first time the company has changed its name. It was earlier named Mandsaur Ferro Alloys. Up to 2011, Parab Infra was into manufacturing steel products. Its latest annual report shows that it is into trading and infrastructure. For FY13-14, Parab Infra reported total revenues of Rs1.11 crore from operations. Over the previous two financial years, viz., FY11-12 and FY12-13, it reported nil revenue. Yet, its stock price has shot up by 580%, to Rs171.25 on 1 October 2014, from Rs25 on 11 February 2013. It is also interesting that huge trading volumes over the past one month have brought the price down by over 50% from a 52-week high, of Rs351 on 13 August 2014, to a 52-week low of Rs155 on 25 September 2014. From August 2014 to now, the stock witnessed a burst of trading activity, averaging around 3,000 trades a day, up from around just 100-trades a day over the past year. This huge burst in volumes and massive price movements, as usual, did not wake up the regulators.

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