Court allows Subramanian Swamy to conduct own case in 2G scam

Mr Swamy, during the last hearing, had complained before the court that the charge-sheets field by the CBI did not cover the role of the Mr Chidambaram, who "jointly took important decisions" on allocation of radio waves

New Delhi: Janata Party chief Subramanian Swamy was today allowed by a Delhi court to conduct his private complaint in the second generation (2G) scam, reports PTI.

The court also gave him time for filing an application which seeks to make then finance minister P Chidambaram an accused in the case as the matter is pending in the Supreme Court.

"Since my application seeking a Central Bureau of Investigation (CBI) inquiry into the role of Mr Chidambaram in 2G scam is pending before the Supreme Court, it would be in the interest of justice to wait for the apex court's order and then come here (to this court) with the plea to make him (Mr Chidambaram) an accused in the case," Mr Swamy told Special CBI judge OP Saini.

The Janata Party chief informed the judge that the apex court order on his petition is likely to be delivered on 1st September and than then he would file by 15th September 15 the application seeking to make Mr Chidambaram an accused in the case.

The court fixed the matter for further hearing on 15th September.

Mr Swamy, during the last hearing, had complained before the court that the charge-sheets field by the CBI did not cover the role of the Mr Chidambaram, who "jointly took important decisions" on allocation of radio waves.

He had also urged the court that he be appointed special public prosecutor to conduct his case himself.

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Jan Lokpal Bill discussion unlikely today: Govt

"I am not saying that there will be no discussion but it looks less likely today because of other businesses, including private members' bill," parliamentary affairs minister PK Bansal. "There are rules and procedures to be followed and some member has to give notice for discussion. It can be given from our side, by a Congress member," he added

New Delhi: The government today said a discussion on Jan Lokpal Bill as demanded by social activist Anna Hazare may not be possible in Lok Sabha during the day but added nothing can be ruled out, reports PTI.

"I am afraid as of now there does not seem to be any likelihood of it (Jan Lokpal Bill) being taken up today because no notice has been given by any member nor does the revised list of business carries the item for discussion," parliamentary affairs minister PK Bansal told reporters here.

"I am not saying that there will be no discussion but it looks less likely today because of other businesses, including private members' bill," he said.

There are rules and procedures to be followed and some member has to give notice for discussion. It can be given from our side, by a Congress member, he said.

Asked whether this meant that there will be no discussion, he said, "No, I am not saying that. There will be a discussion but it has to be decided when and how to do it."

On prime minister Manmohan Singh's assurances yesterday on a discussion in the House and the situation in view of the deteriorating health of Mr Hazare, he said, he would also like the Gandhian to call off his fast.

Asked whether he rules out the possibility of the discussion today, Mr Bansal said he was not ruling out such a possibility because it can be worked out and if a decision is taken, media will get to know.

"I hope Anna's health does not deteriorate further and he breaks his fast. The prime minister appealed emotionally to him yesterday that the nation is with you. What more can Parliament do?" he said as the Gandhian's fast for a strong Lokpal entered the 11th day.

Law minister Salman Khurshid met finance minister Pranab Mukherjee to discuss a way out to end the deadlock.

"We want a collaborative, cooperative resolution in the House. The whole House must be party to it," he said.

Government sources last night said that a motion will be brought to facilitate a combined discussion on the Lokpal Bill, the Jan Lokpal Bill brought out by Mr Hazare as also the drafts prepared by activist Aruna Roy and Jai Prakash Narain.

Consultations were under way the exact wording of the motion, they said.

Team Anna had last night reached out to BJP which said a solution to the impasse could be found in consonance with the Constitution if the government has a 'constructive' attitude.

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NSE to launch S&P 500, Dow Jones futures from Monday

In order to encourage active participation in the futures and options (F&O) contracts, NSE has decided that it would not levy any transaction charges on the trades done in the contracts from the date of commencement till 29 February 2012

New Delhi: The National Stock Exchange (NSE) on Thursday said it will launch derivative contracts on benchmark US indices S&P 500 and Dow Jones Industrial Average (DJIA) from Monday, a move that will help Indian investors to bet on the world's most influential stock markets, reports PTI.

“The NSE is launching derivative contracts on the world’s most followed equity indices, the S&P 500 and the DIJA from 29th August,” it said in a statement issued here.

This is the first time that derivative contracts on global indices are being launched in India. This is also the first time in the world that futures contracts on the S&P 500 index are being introduced and listed on an exchange outside of their home country, the US.

In order to encourage active participation in the futures and options (F&O) contracts, NSE has decided that it would not levy any transaction charges on the trades done in the contracts from the date of commencement till 29 February 2012.

The new contracts will include futures on both the DJIA and the S&P 500 and options on the S&P 500, it added.

NSE would launch four quarterly futures contracts on S&P 500 and DJIA expiring in March, June, September and December.

The expiry date for these contracts will be the third Friday of the respective contract month.

“We are proud and happy that we have been able to provide these unique products on an Indian trading platform. We have been continuously trying to bring new products and asset classes, to meet investor needs.

“Derivative contracts on these global indices will provide Indian investors easy access to US markets in Indian market hours, without taking any currency risk,” NSE managing director and chief executive Ravi Narain said.

The rupee-denominated derivative contracts on S&P and the DJIA introduced by NSE would provide Indian investors with easier access to gain exposure to the US equity market.

All the members of the equity derivatives segment of NSE shall be able to trade this product for themselves and their clients, through their existing trading, clearing and risk management infrastructure, with no additional investment.

The settlement guarantee currently available in the F&O segment shall be automatically extended to these products as well.

In late June, NSE said it has got the Securities and Exchange Board of India’s (SEBI) approval to launch derivative contracts on these two US indices. SEBI had released the regulatory framework for such products in January.

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