ICICI Prudential Mutual Fund new issue closes on 31st May
ICICI Prudential Mutual Fund has launched ICICI Prudential Multiple Yield Fund-Plan A, a close-ended income scheme.
The primary objective of the plan under the scheme is to generate returns by investing in a portfolio of fixed income securities/debt instruments. The secondary objective of the scheme is to generate long term capital appreciation by investing a portion of the scheme’s assets in equity and equity related instruments.
The new issue closes on 31st May. The minimum investment amount is Rs5,000.
CRISIL MIP Blended Index is the benchmark index. Chaitanya Pande is the fund manager.
Birla Sun Life Mutual Fund new issue closes on 30th May
Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series DC, a close-ended income scheme.
The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The scheme will have duration of 367 days.
The new issue closes on 30th May. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Kaustubh Gupta is the fund manager.
Ordering "forthwith" arrest of Ms Kanimozhi and Kalaignar TV MD Sharad Kumar, the court directed that the two should be produced before it at 10am on Saturday, when the case comes up for hearing
New Delhi: A Delhi court today ordered "forthwith" arrest of DMK MP Kanimozhi and Kalaignar TV MD Sharad Kumar after rejecting their bail pleas in the 2G spectrum case, reports PTI.
"The bail applications are dismissed. Both the accused be taken into custody forthwith," special CBI judge OP Saini said.
The court directed that 43-year-old Ms Kanimozhi and Mr Kumar should be produced before it at 10am tomorrow, when the case comes up for hearing.
The DMK MP, wearing an orange salwar suit, looked stunned after the CBI judge pronounced his order and was consoled by her family members, including her husband Aravindan.
DMK leaders, including its parliamentary party chief TR Baalu, was present in the court.
Minutes after the court pronounced its order, some of DMK supporters broke down while others were seen making frantic calls.
The court in its 144-page order said that most of the witnesses against the DMK MP are the employees of Kalaignar TV and hence the possibility of they being influenced cannot be ruled out.
"Considering the magnitude of the crime and the fact that many of the witnesses are employees of Kalaignar TV, there is every apprehension that the witnesses may be influenced, if the accused are released on bail," the CBI judge said.
The court also considered the "enormity" of the offence while rejecting the bail of Ms Kanimozhi and Sharad Kumar.
"Considering the magnitude of the crime, nature and enormity of the allegations, character of evidence on record and the apprehension that the witnesses may be influenced in case the accused are released on bail, I have no hesitation in holding that both applicants/accused have failed to make out a prima facie case for bail. Bail applications are without merit and the same are dismissed," the judge said.
The court, however, clarified that its observations were "tentative" and they do not express any opinion on the merits of the case.
The CBI had charge-sheeted Ms Kanimozhi on 25th April, for her alleged role in the 2G spectrum allocation scam. It had indicted her for taking a bribe to the tune of Rs200 crore, which was routed to Kalaignar TV, in which she has 20% stake.
The money was routed to the TV channel by DB Realty of Shahid Usman Balwa, who was of one of the beneficiaries of the 2G spectrum allocation scam, with his another firm, Swan Telecom, securing the 2G spectrum licence during the tenure of former telecom minister A Raja of her party.
Besides Ms Kanimozhi, former Tamil Nadu Chief Minister Karunanidhi's wife Dayalu Ammal holds 60% share in the Kalaignar TV. She, however, was not charge-sheeted in the case as the CBI said she did not take part in the day-to-day functioning of the channel.
Ms Kanimozhi was charge-sheeted along with TV channel MD Sharad Kumar, who too held 20% stake in it.
After the CBI filed a charge-sheet against them in the special CBI court, they were asked to appear before it on 6th May, when Ms Kanimozhi filed her bail plea.
The court earlier had reserved its verdict on her bail plea for 14th May, but had advanced it to today.