MLM / Chain Money
ED summons Nalini Chidambaram in Saradha scam probe
The Enforcement Directorate (ED) has summoned former Finance Minister P. Chidambaram's wife Nalini Chidambaram for questioning in connection with the multi-crore Saradha chit fund scam, an official said on Wednesday.
 
The official refused to divulge the date when she will be questioned, but said the agency has "certain evidence" against her in the case for which she has been asked to appear before the investigators.
 
Nalini, a Chennai-based senior lawyer, came under the ED's probe ambit after Saradha chairman Sudipta Sen alleged he had paid over Rs1 crore to her at the instance of Manoranjana Singh, the estranged wife of Congress leader Matang Singh.
 
Sen made the allegation against Nalini through his letter sent to the Central Bureau of Investigation (CBI) in April 2013.
 
Sen informed the CBI that he had paid for Nalini's visits to Kolkata and for her stays at a five-star hotel.
 
He also alleged that Nalini pressured him to invest Rs42 crore in Manoranjana's company.
 
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.

 

User

Only 1 of 27 Indian sports bodies has athlete as president
Indian marathon runner O.P. Jaisha said she fainted at the Rio Olympics on a hot, humid day because no Indian sports official provided her with water or glucose water, a reminder that sports federations in India are often ignorant of sporting requirements.
 
Much has been written about Indian sports associations managed by politicians instead of athletes. Now, there is clear data on the details:
 
-- Only one sports association (SA) -- the Athletics Federation of India -- has a former national athlete as president.
-- Only nine SAs have former or present players on their governing bodies.
-- 12 SAs have not made available any details about the tenures of presidents and members.
-- Only two SAs have any kind of plan for the future.
-- Women constitute between 2 per cent and 8 per cent of SA governing bodies. Hockey India, with 34 per cent female representation, is the exception.
 
These are the key findings of a new report, Governance of Sports in India: 2016, by InGovern Research Services, an advisory, which analysed publicly available data from 27 sports associations and federations (including the Indian Olympic Association). The IOA's members include 38 national sports federations (NSFs).
 
Of these 38 NSFs, sports and disciplines represented by 26 NSFs --which the report probes -- featured in the recently-concluded Rio 2016 Olympic Games. The major findings are segregated into five major buckets:
 
1. Incorporation and constitution of associations and federations
 
-- Nine SAs have failed to disclose their objectives to the general public.
-- 10 SAs have failed to make available their constitution/charter to the general public.
-- 10 SAs have not made public their governing statute, which includes the roles and responsibilities of the president, members and other office bearers.
 
2. Composition of associations and federations
 
-- Only one SA has a former national athlete as its president.
-- As many as eight SAs do not have female representation on their governing bodies. This excludes four NSFs that have not provided any details of their governing bodies.
-- Of the other SAs, women constitute between 2 per cent and 8 per cent of the governing bodies. This doesn't include Hockey India, which has a 34 per cent female representation.
-- Only nine SAs have former or present players in their governing bodies.
 
3. Governing Body
 
-- 11 SAs have not provided information related to rotation, tenure as well as term limits of the members of their governing bodies.
-- 12 SAs have not made available any details regarding the tenure limits of their presidents and members.
-- Of the remaining 15 SAs, only six have set tenure limits for their presidents.
 
4. Financial Disclosures and Strategy
 
-- Only two SAs -- All India Football Federation (Strategic Plan 2014-17) and the Indian Golf Union (Tee20 Strategic Plan 2013-2020) -- have designed a strategic plan for improvement of their respective sports.
-- As many as 16 SAs do not publish financial statements in the public domain and/or on a regular basis.
-- Only one SA -- All India Football Federation -- has had its financial statements audited by a reputed auditor.
-- Only one SA -- Table Tennis Federation of India -- has disclosed remuneration details of key personnel.
 
5. Management of Conflicts of Interest
 
-- Only one SA -- Hockey India -- has adopted a conflict-of-interest policy.
-- None of the SAs have disclosed any conflicts of interests or transactions concerning the president or members of governing bodies.
 
The report outlines six major recommendations that could improve governance of sports in India:
 
1. Design a strategy/road-map for future: The IOA and all SAs should adopt a strategic roadmap that is disclosed to the public domain. Implementation of this roadmap should be monitored and disclosed regularly.
 
2. Revamp of elections and succession planning: The SAs should amend their constitutions to set the maximum term limits and retirement limits for members and office bearers (such as president, secretary, treasurer). Once they reach the limit, they should not be considered for future appointments.
 
3. Be transparent: SAs should put their financial statements, profiles of executive council and administrative staff, budgets, expenses and remuneration details in the public domain.
 
4. Mitigate conflicts of interest: SAs should disclose conflicts of interest and ensure they are not allowed.
 
5. Increase player- and female-representation on the council: This is important to enhance diversity on councils.
 
6. IOA should be more transparent: IOA must disclose its budgets and audited financial statements of its participation in any national and international events. For these events, it should disclose participating sportspersons, non-playing staff, including officials and doctors and a break-up of expenses.
 
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.

User

COMMENTS

Srinivas Sreeram

3 months ago

The plight of this athlete Jaisha is really worrying and serious. All this sports bodies are retirement positions for ex-khangress supporters and they need to be replaced with genuine sports players / administrators. All sports bodies need to be washed with Vanish & Clorox mixed with Surf Excel or Ariel.

Parrikar seeks navy's report on Scorpene submarine data leak
Defence Minister Manohar Parrikar has sought a report from the navy on the alleged leak of sensitive data on India's Scorpene submarines, as part of the larger expose pertaining to some 22,000 documents of its French designer, DCNS, by the Australian media.
 
"The first step is to identify if it relates to us," Parrikar told reporters here, referring to the documents that purportedly reveal details on the sub's underwater and above water sensors, as also combat management, torpedo launch, navigation and communications systems.
 
"The Navy Chief (Admiral Sunil Lanba) has been asked to analyse what exactly has been leaked," the minister said, adding his first assessment was that it was an act of hacking and not a 100-per cent leak. "We do have our final integration and all that," he said.
 
"What I can understand -- because it came to my knowledge around 12 am -- is there is a hacking. So we will find out all these aspects," he said. "I've told the navy chief to find out all the details. Mayby, in a couple of days I'll be able share with you."
 
The Australian media reports, quoting DCNS, said that the leak of such technical data could not happen with its proposed submarine for Australia. The French company also alluded that the leak may have occurred at India's end, rather than from France. 
 
"Uncontrolled technical data is not possible in the Australian Arrangements," the company said as per a report in The Australian. "Multiple and independent controls exist within DCNS to prevent unauthorised access to data and all data movements are encrypted and recorded," it said. 
 
"In the case of India, where a DCNS design is built by a local company, DCNS is the provider and not the controller of technical data."
 
The first of the Scorpene class submarines being built in India, INS Kalvari, went for sea trials in May, 2016 and is expected to be inducted in the Indian Navy soon. Variants of Scorpene submarines are also used by Malaysia and Chile, with Brazil to join the club soon.
 
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.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)