Citizens' Issues
CWG scam: Court to frame charges against Kalmadi and others on 4th Feb

 Special Central Bureau of Investigation (CBI) judge Ravinder Kaur deferred the framing of charges, saying she needs more time to go through the entire records of the case before passing any order

New Delhi: A Delhi court fixed 4th February for framing charges against sacked Commonwealth Games (CWG) Organising Committee chairman Suresh Kalmadi for allegedly cheating, conspiring and causing a loss of over Rs90 crore to the public exchequer in a Games-related graft case.

 

Special Central Bureau of Investigation (CBI) judge Ravinder Kaur deferred the framing of charges, saying she needs more time to go through the entire records of the case before passing any order.

 

The special judge has taken charge of this court on 2nd January after the earlier judge, who had ordered framing of charges, was transferred. The case was fixed for Thursday for formally framing of charges against all the accused.

 

The court had on 21 December 2012 passed the order on framing of charges under various provisions of the IPC and the Prevention of Corruption (PC) Act against Kalmadi and nine others, including former Organising Committee (OC) Secretary General Lalit Bhanot.

 

Besides cheating and conspiracy, the accused will also be charged with the offences of forgery under the Indian Penal Code (IPC) and criminal misconduct by public servants under the PC Act.

 

“Charges under section 120B (criminal conspiracy), read with 201 (destruction of evidence), 420 (cheating), 467, 468, 471 (relating to forgery), 506 (criminal intimidation) of the IPC and section 13(1) (d) read with section 13(2) (criminal misconduct by public servants) of the PC Act is ordered to be framed against all the accused,” the court had said.

 

The accused have been charge sheeted by the CBI for ‘illegally’ awarding a contract to install Timing, Scoring and Results (TSR) system for the 2010 CWG to Swiss Timing at inflated rates causing a loss of over Rs90 crore to the public exchequer.

 

Besides Kalmadi and Bhanot, the other accused in the case are OC's former director general V K Verma, former Director General (Procurement) Surjit Lal, former Joint Director General (Sports) A S V Prasad and former Treasurer M Jayachandran. They are no more associated with the sporting body.

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A look at how the hike in rail fares will pinch your pocket

A Sleeper Class ticket on a Mail or Express train between New Delhi and Thiruvananthapuram which used to cost Rs559 will cost Rs745 from midnight of 21st January

New Delhi: A passenger travelling to Thiruvananthapuram from New Delhi on a Mail or an Express train in Sleeper Class will now have to shell out an extra Rs186, reports PTI.

 

Similarly, a passenger travelling by the same train on an AC Three Tier ticket will have to pay an extra Rs312, according to the hike in passenger fares announced by the railway ministry.

 

A Sleeper Class ticket on a Mail or Express train between New Delhi and Thiruvananthapuram which used to cost Rs559 will cost Rs745 from midnight of 21st January. Similarly, an AC Three Tier ticket in the same train which costs Rs1,573 will now cost Rs1,885.

 

An AC Three Tier ticket on a Rajdhani Express between New Delhi and Ernakulum, which used to cost Rs1,804, will now come at Rs2,156, a hike of Rs352.

 

A New Delhi-Patna Sleeper Class ticket will now cost Rs385, a hike of Rs66. Similarly, Sleeper Class travel in a Mail/ Express train between New Delhi and Mumbai Central will cost Rs465, a hike of Rs87.

 

An Express Train Sleeper Class ticket between New Delhi and Howrah (via Gaya) will now come at Rs475, following a hike of Rs89.

 

People travelling to Chennai Central from the national Capital on a Sleeper Class ticket in a Mail or Express train will have to pay Rs620, an extra Rs132.

 

A Sleeper Class ticket on a Mail/ Express train between New Delhi and Guwahati (via Barauni) will cost Rs590, following a hike of Rs122.

 

Same fare hike have been made applicable on AC Three Tier tickets, with a New Delhi-Patna ticket now costing Rs1,005, a hike of Rs106.

 

A travel to Mumbai Central from New Delhi on an AC Three Tier ticket on a Mail/ Express train will now come at Rs1,205, following a hike of Rs140

 

Chennai Central to New Delhi ticket in AC Three Tier will now cost Rs1,595 after a fare revision of Rs221.

 

In Rajdhani Trains Mumbai Central-New Delhi ticket which costs Rs1,247 will now come for Rs1,450 a variation of Rs203.

 

Howrah-New Delhi travel in AC Three Tier on a Rajdhani will now come at Rs 1,483 instead of Rs1,273, following a hike of Rs210.

 

A Rajdhani AC Three-Tier ticket to Dibrugarh in Assam from New Delhi will now cost Rs1,982 instead of Rs1,674.

 

In Shatabdi Express, an AC Chair Car ticket from New Delhi to Lucknow will cost Rs576 instead of Rs526, following a hike of Rs50.

 

Travelling to Bhopal from the national Capital on a Shatabdi will now cost Rs715, following a hike of Rs68.

 

Travelling on a Duronto Express in AC Three Tier between Mumbai and Howrah will now cost Rs1,561 instead of Rs1,373.

 

Similarly, a travel from Sealdah to New Delhi on an AC Three Tier ticket in Duronto will now cost Rs1,285, following a hike of Rs149.

 

A travel from Pune to Nizamuddin (Delhi) will be dearer by Rs150, as the ticket now will cost Rs1,311 instead of the present Rs1,161.

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Smaller companies bearing brunt of economic slowdown: RBI data

The aggregate net profit margin of the corporate sector was impacted by “poor performance of smaller companies,”  an RBI analysis of data said

Mumbai: Smaller companies are mainly bearing the brunt of economic slowdown, having recorded overall losses in the first half of the current fiscal, a Reserve Bank of India data analysis revealed, reports PTI.

 

On the other hand, larger corporates have performed better during the April-September 2012-13 which witnessed moderation in economic growth to 5.4% from 7.3% in the year ago period.

 

“Smaller companies (with sales up to Rs100 crore) incurred losses in H1 of 2012-13, though larger companies recorded a higher rise in net profits,” RBI said in its analysis based on the performance of 2,832 listed non-government non-financial companies.

 

The aggregate net profit margin of the corporate sector, the analysis said, was impacted by “poor performance of smaller companies”.

 

On an average, the companies have a recorded a rise in net profit of 4.3% during the first half of the current fiscal, which for 2,832 companies is estimated at Rs 91,800 crore.

 

The slowdown has been mainly on account of deeper moderation in sales figures of the manufacturing and non-IT services sectors.

 

The companies in the Information Technology (IT), however, performed better than peers in other segments.

 

The net profit margin of the IT sector, RBI said, was above 17% in first half as compared to 5.7% for manufacturing and 4.9% for non-IT services sector.

 

Companies in sectors such as mining and quarrying, electric machinery, petroleum refinery, power generation and supply and real estate, have suffered losses during the period.

 

On the other hand, the sectors which performed better include food and beverages; textiles; paper products; cement; whole sale and retail trade; radio, television and communications equipment.

 

The analysis also revealed that the interest cost for the corporate sector shot up by as much as 24%, while increase in sales and expenditure worked out to be 12.3% and 13.6%, respectively.

 

As regards financial sector companies, the RBI analysis based on performance of 390 companies showed that there was a jump of 27.3% in net profit, mainly because of rise in income from operations.

 

It said that while their income went up by 27.4%, expenditure increased by only 18.9%.

 

Meanwhile, industrial output measured on IIP during the April-September period of this fiscal was 0.1%, down from 5.1% year-on-year.

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