ED seeks MHA help to probe Hassan Ali’s links with terrorists

While taking note of accusations of Mr Khan's links with Mr Khashoggi and those involved in terror activities, the Supreme Court had last month asked the probe agencies to also consider the option of booking him under anti-terror law

New Delhi: Stepping up its probe into the dealings of suspected money launderer Hassan Ali Khan, the Enforcement Directorate (ED) has approached the ministry of home affairs (MHA) to find out if he has any links with terror outfits, reports PTI.

In a letter to the home ministry, the ED has conveyed that it was absolutely necessary to look into various aspects of the 53-year-old Pune-based stud farm owner's dealings and whether he was having any links with any terrorist outfit-both within the country as well as abroad.

The ED also cited Mr Khan's alleged links with international arms dealer Adnan Khashoggi and the fact that he was having multiple passports, which were acquired through various illegal means.

"We have received a letter from the ED requesting us to probe if Hassan Ali has any links with any terror outfit," a senior home ministry official said today.

The ED comes under the Union finance ministry.

The ED accused Mr Khan of dealing in, acquiring and holding foreign exchange equivalent to Rs36,000 crore.

On his Khashoggi links, it said, "This requires intensive probe as it has a bearing on national security as well."

While taking note of accusations of Mr Khan's links with Mr Khashoggi and those involved in terror activities, the Supreme Court had last month asked the probe agencies to also consider the option of booking him under anti-terror law.

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PFC’s net rises marginally to Rs606.74 crore in Q4

For the year ended March 2011, the company's net profit increased to Rs2,618.79 crore from Rs2,357.24 crore in the 12-month period last fiscal, a growth of 11.10%

Mumbai: State-run Power Finance Corporation (PFC) on Tuesday said its net profit grew marginally to Rs 606.74 crore in the fourth quarter ended 31 March 2011, up 1% from Rs600.77 crore in the corresponding period of the previous fiscal, PFC said in a filing to the Bombay Stock Exchange, reports PTI.

Total income increased by 24.47% to Rs2,623.41 crore in the quarter under review from Rs2,107.61 crore in the same Jan-March period last year.

For the year ended March 2011, the company's net profit increased to Rs2,618.79 crore from Rs2,357.24 crore in the 12-month period last fiscal, a growth of 11.10%.

Total income rose to Rs10,160.55 crore in the year under review from Rs 8,076.84 crore a year ago.

PFC, set up in July 1986 as a financial institution (FI), provides dedicated financing to power sector with a committed aim for the integrated development of the power and associated sectors.

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Posco project hangs between ‘to be’ and ‘not to be’

Though chief minister Naveen Patnaik is still hopeful about the 'dream' project pulling through, Posco is still waiting for a piece of land to set up its 12 million tonne per annum (mtpa) greenfield steel mill

Bhubaneswar: Orissa's mega steel project Posco has slipped into a situation of Shakespeare's 'To be, or not to be' with the Union environment minister putting a halt to the forest clearance, reports PTI.

Though chief minister Naveen Patnaik is still hopeful about the 'dream' project pulling through, not many share his optimism given the spate of controversies that the Rs52,000 crore project has attracted.

"It's a million dollar question about a $12-billion project. The manner in which the project is facing frequent setbacks, only time will determine its fate,"' said All Orissa Steel Federation president PL Kandoi.

Mr Kandoi felt that the state government should first provide raw materials to companies coming to the state.

"Posco will not invest unless it gets raw material linkage," he said.

However, Orissa's steel and industries minister Raghunath Mohanty is very confident that the Posco will drop anchor at Paradip.

"We are confident that Posco will be able to set up its unit near Paradip," he said rejecting speculation, though he was unsure of how to proceed on overcoming the many hurdles that lay on the road.

The South Korean steel major, which signed a memorandum of understanding (MoU) with the state government on 22 June 2005, is still waiting for a piece of land to set up its 12 million tonne per annum (mtpa) greenfield steel mill.

According to provisions of the MoU, the company was to complete the first phase of 6mtpa capacity unit by July 2010 by investing Rs10,100 crore.

Both the Orissa government and the company had agreed that the facility would be commissioned by July 2010 or 36 months from the date of taking title and possession of land.

However, stiff opposition by the residents of two of the seven seaside villages stalled the project for over five years.

"Despite all-out efforts, the state government has not been able to hand over an inch of land to Posco. We will continue to fight for the rights," said Posco Pratirodh Sangram Samiti president Abhay Sahu.

Not only the steel project, Posco's all other projects have also hit hurdles.

While people in Cuttack city were opposed to the company's plan of drawing water from Naraj barrage on river Mahanadi, local people were opposed to Posco's move of mining iron ore from Khandadhar iron ore reserve in Sundargarh district.

Though Orissa government had recommended Posco-India's name for prospecting license over the Khandadhar reserve, it was challenged in the high court.

The court was yet to take a decision on the matter thus posing uncertainty over the company's raw material linkage.

Posco project, billed as the biggest foreign direct investment which got support of prime minister Manmohan Singh as well as the state's chief minister, was still struggling to get only 4,000 acres of land.

Even if the people vacate land for Posco, the company would find it tough to go ahead with construction unless assured of the raw material link, a company executive said with condition of anonymity.

Amidst adverse conditions, the South Korean Steel major had reduced its manpower with people quitting the multinational at regular intervals. The company's senior general manager Saroj Mohapatra, the head of human resource department was the latest to put in his papers.

Mr Mohapatra's exit followed that of the company's general manager (external relations) Simanta Mohatny and deputy general manger (administration) Avinash Tiwari.

While the Indian employees quit, Koreans were either transferred to other units or taken back to their native land.

The company's country corporate office here, which had about 60 employees, is now reduced to about 30.

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COMMENTS

Shadi Katyal

6 years ago

I have decided not to express my opinons anymore till your polciy of security code is changed.
One cannot continue to keep writing and if the Moneylife wish our comments it must change its policy and if mistake in code let the writing come back and not just wipe out.

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