Citizens' Issues
HC reserves order on bail plea of Tejinder Singh in Tatra case
Besides Kapil Sibal, a battery of lawyers including Geeta Luthra, Dayan Krishnan and Pramod K Dubey appeared and sought bail for Tejinder Singh 
 
The Delhi High Court on Thursday reserved its order on the bail plea of Lt Gen (retd) Tejinder Singh. Tejinder Singh has been arrested for allegedly offering Rs14 crore bribe to the then Army chief VK Singh for clearing files pertaining to procurement of Tatra—all terrain vehicles.
 
The order has been reserved by a bench headed by Justice Pratibha Rani after hearing arguments advanced by counsel on behalf of Tejinder Singh and Central Bureau of Investigation (CBI).
 
“Who knows the practice better than this court. If an accused has not been arrested during the entire investigation and has root in the society, then he cannot be arrested after filing of charge sheet,” former law minister and senior advocate Kapil Sibal appearing for the jailed former Army officer, said.
 
Besides Sibal, a battery of lawyers including Geeta Luthra, Dayan Krishnan and Pramod K Dubey appeared for Tejinder Singh and sought bail for their client, saying he has been a man of integrity and should have been enlarged on bail by the trial court itself, where he appeared after receiving the summon on 1st September.
 
The counsel for the CBI, however, vehemently opposed the submissions of the accused saying, “the practice of granting bail on filing of charge sheet does not entitle an accused to be granted bail. The gravity of the offence alleged against the accused has to be considered.”
 
The CBI also referred to the statements of the then Army chief Singh and the then Defence Minister AK Antony to support its submission that the allegation against Tejinder Singh were grave in nature.
 
Sibal, in its rejoinder argument, opposed the submissions of the counsel and referred to various Supreme Court judgements to drive home his point that an accused, who has been out during the investigation should not be arrested on filing of the charge sheet.
 
“Moreover, evidence presented to the court are documentary in nature,” he said, adding the alleged offence took place on 22 September 2010 and it was reported after the delay of two years in 2012.

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MR Mayya, former ED of BSE, is no more
MR Mayya, best-known face of the capital markets in 1980s and also former executive director of BSE passed away on Thursday
 
MR Mayya, a well-known finance professional and former Executive Director of BSE died on Thursday. He was the best-known face of the capital markets in 1980s.
 
Mr Mayya, an MA in Economics from Madras University, was also Founder Chairman of BoB Capital Markets for 10 years till 2006. After completing MA, he entered into the Indian Economic Service in July 1958, and served about 18 years in the Forward Markets Commission (FMC) regulating commodity markets.
 
Mr Mayya joined Stock Exchange division of the Ministry of Finance regulating securities market in February 1973. He became the Head of Stock Exchange division in August 1978. He joined Bombay Stock Exchange (BSE) as an executive director in August 1983 and worked for about 10 years before retiring in August 1993.
 
Later, he became the founder chairman of Interconnected Stock Exchange of India (ISE), which was an experiment that did not quite work. He was also a part of innumerable experiments to find give a life to India’s 20-odd regional stock exchanges, whose future was in question after the National Stock Exchange (NSE) with automated, single-screen trading nationwide was set up. 
 
Mr Mayya was a part of many high-powered committees (GS Patel Committee on Capital Market Reforms) and also headed several committees and panels on market related issues. In 2003, the MR Mayya Committee on the development of liquidity in the stock market has urged the government to grant tax incentives to market makers. It was appointed by the Federation of Indian Stock Exchanges (FISE). This Committee had proposed setting up of IndoNext market segment on the lines of EuroNext. 
 
With his vast knowledge and experience, Mr Mayya was appointed as the Member of the Rating Committee of CARE for over 14 years till January 2008. He has also been director of various companies and for many years, was a prolific writer and columnist having penned over 250 articles.  
 
Many of these were compiled in a book called 'Glimpses of Indian Stock Markets'.

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COMMENTS

Itee

2 years ago

Extremely sad and depressing. May his family get the strength to cope up with the situation. This news should have been received more attention.

Acharya

2 years ago

A great human being A true Gandhian.. a perfect example of simple living and high thinking...It is sad that mainstream media ignored the demise of this Great Man who contributed immensely to the development of the capital market.As always, Moneylife stood out... S.R.Acharya

al-Qaeda video: Home Ministry asks IB to verify authenticity
US media and intelligence agencies said that al-Qaeda has established a new branch to wage jihad in India, revive its caliphate and impose sharia in the Indian sub-continent
 
The Union Home Ministry on Thursday asked the Intelligence Bureau (IB) to verify authenticity of an al-Qaeda video that threatens to take the terror outfit’s campaign to India.
 
According to the ministry officials, the IB has been asked to send a report as early as possible giving details of the video, its authenticity and possible place of uploading.
 
The IB, which constantly monitors the activities of the terror outfit operating in the country and its neighbourhood, is expected to send the report within a day or two.
 
US media and intelligence agencies said that al-Qaeda has established a new branch to wage jihad in India, revive its caliphate and impose sharia in the Indian sub-continent.
 
The creation of the group called ‘Qaedat al-Jihad in the Indian sub-continent’ was announced by As Sahab, al-Qaeda’s official media outlet, in a lengthy video posted on social media outlets including YouTube.
 
al-Qaeda is active in Afghanistan and Pakistan, but the group’s leader Ayman al Zawahiri said: “Qaedat al-Jihad” would take the fight to India, Myanmar and Bangladesh.
 
Zawahiri said the group will defend the “vulnerable in the Indian sub-continent, in Burma, Bangladesh, Assam, Gujarat, Ahmedabad, and Kashmir...” and “your brothers in Qaedat al-Jihad did not forget you and that they are doing what they can to rescue you from injustice, oppression, persecution, and suffering”. 

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COMMENTS

MOHAN

2 years ago

Government's first duty is to ban some of the Jihadi media of Kerala. They have political patronage.

It is a pity that Congress is still in alliance with the "dead horse" (as described by jawaharlal Nehru)

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