For the first time voters will get ‘none of the above or NOTA option in the upcoming polls in Delhi, Rajasthan, Madhya Pradesh, Chhattisgarh and Mizoram
The Election Commission on day announced the schedule for upcoming Assembly elections in five states – Delhi, Rajasthan, Madhya Pradesh, Chhattisgarh and Mizoram.
Assembly elections in Madhya Pradesh will be held in a single phase on 25th November while elections in Chhattisgarh will take place in two phases – on 11 and 19th November.
In Rajasthan, polls have been scheduled to take place on 1st December while elections in Delhi and Mizoram will be held on 4th December.
VS Sampath, chief election commissioner, said the model code will come into immediate effect in these five states. He added that for the first time voters will get ‘None of the above’ (NOTA) option in the upcoming polls.
By-elections will simultaneously take place in the assembly constituencies of Surat West in Gujarat and Yercaud in Tamil Nadu.
Counting in all states will be held on 8th December.
While the Congress rules Delhi, Rajasthan and Mizoram, the BJP governs Madhya Pradesh and Chhattisgarh.
According to SFIO Mumbai report, it is suspected that a Rs1,700 crore realty deal between Tata group and Unitech in 2007 could have been meant for funding the real estate company's telecom licence issued in January 2008
The Serious Fraud Investigation Office (SFIO) is expected to submit its final report in a few days on the alleged ‘dubious’ transactions between the Tata group and realty company Unitech, which the two companies had denied. Sachin Pilot, the corporate affairs minister had already met concerned officials with regard to the report.
“They (SFIO) are still working on the report and in the next few days I will receive the (final) report,” Pilot told reporters in the capital on the sidelines of an event organised by industry body CII.
Last year, the ministry of corporate affairs (MCA) had ordered a probe by SFIO into the affairs of Niira Radia-led PR firm Vaishnavi Corporate Communications, which used to handle media relations of various Tata group companies and Unitech.
SFIO's Mumbai office is said to have communicated to its head office in Delhi that certain ‘dubious’ transactions disguised as realty transactions took place between Tatas and Unitech.
Among others, the report is also said to have suggested prosecution of five senior management personnel at Tatas, as also against four top Unitech executives and one at Vaishnavi.
As per the SFIO Mumbai report, it is suspected that a Rs1,700 crore realty deal between Tatas and Unitech in 2007 could have been meant for funding Unitech’s telecom licence issued in January 2008.
Tata group’s dealings with Vaishnavi entities are also reportedly under scanner. All companies have denied any wrongdoing.
During January-December 1998 percentage increase in other scrips varied from 140-340%, whereas DSQ shares zoomed 750% due to misleading statements from the company and its managing director, SEBI said
Market regulator Securities and Exchange Board of India (SEBI) has barred DSQ Software and its promoter Dinesh Dalmia from capital markets for seven years on charges of fraudulent trading in 1998 that had led to a sharp rise the company's stock price.
SEBI found that DSQ and Dalmia made misleading statements which had the effect of inducing purchase of securities by public that in turn increased the market price of the shares of the company.
"The percentage rise in the price of the shares of DSQ was considerably higher as compared to that of other companies in the same industry. Percentage increase in other scrips varied from 140-340%, whereas increase in the price of the shares of DSQ was around 750% during January-December1998," the market regulator said.
In its order dated 3rd October, SEBI said it observed that Dalmia, being the promoter and managing director of DSQ, was responsible for reducing the free float of shares by purchasing shares through his wife (Radha Dalmia) and filing cases in the court directly and indirectly through his affiliated entities which resulted in the stay of transferability of a substantial number of shares (28% of the equity capital).
SEBI found that three cases including one against UTI Bank, Kolkata brach were filed by Dalmia and other entities related to him to create an artificial scarcity of floating stock.
Further, it was observed that price sensitive statements were made by the company to "create a positive sentiment" for the shares of the company in the secondary market to influence the price of the shares of the company.
These statements were found to be misleading in nature and had induced public to purchase the shares of DSQ which led to an increase in price of its scrip, the order said.
It added that the company had made misleading statement of bagging a certain contract with Japanese firm Unisia Jecs Corp and related to future opportunities for DSQ.
SEBI had conducted a probe into the trading of the shares of DSQ for the year 1998 when a sharp rise in the price of the scrip was observed.
DSQ (formerly known as Square D Software) was mainly promoted by Dalmia and his group entities -- Ganapati Commerce, Ganapati Combines, Lexus Exports, and Square D Exports. These firms were wholly owned by Dalmia, his friends and family members.
Dalmia was the managing director of DSQ Software when the Central Bureau of Investigation (CBI) arrested him for his involvement in a stock scam. He made money by transferring DSQ shares in the name of UK-based New Vision Investment Ltd and un-allotted shares in the name of Dinesh Dalmia Technology Trust. However, according to investigation reports, about 1.3 crore DSQ shares were not listed on any exchange.
Until 2000, Dalmia's DSQ Software was just another company whose management cooked its books, hid audit trails through frenetic name changes and exploited every bull-run to make a killing for the promoter group.