The court had earlier found prima facie evidence against Chautala, his son Ajay and 53 others, including IAS officers Dhar and Kumar. The 55 persons convicted by the court on Wednesday include 16 women
New Delhi: Haryana's former chief minister (CM) Om Prakash Chautala, his MLA-son Ajay Chautala and 53 others were on Wednesday convicted by a Delhi court for the illegal recruitment of over 3000 junior basic trained (JBT) teachers in the state, reports PTI.
After the court pronounced its judgement, all the convicts were taken into judicial custody. The court has fixed 22nd January for pronouncing the quantum of sentence.
Special Central Bureau of Investigation (CBI) Judge Vinod Kumar held Chautala, his son and others guilty of offences under the Indian Penal Code (IPC) and Prevention of Corruption Act (PCA).
Apart from the Chautalas, Sanjiv Kumar, the then Director of Primary Education, Chautala’s former Officer on Special Duty Vidya Dhar and Sher Singh Badshami, political advisor to the then Haryana CM were also convicted by the court in the case.
The court has fixed 17th, 19th and 21st January for hearing the arguments on sentence.
The court had framed charges against them under Sections 120-B (criminal conspiracy), 420 (cheating), 467 (forgery), 468 (forgery for cheating), 471 (using as genuine a forged document) of the IPC and provisions of the PCA.
The court had reserved its verdict in the case on 17 December 2012 after conclusion of final arguments by the CBI and the defence counsel.
Out of the initial 62 accused, six had died during the trial while one had been discharged by the court at the time of framing of charges.
The court had earlier found prima facie evidence against Chautala, his son Ajay and 53 others, including IAS officers Dhar and Kumar.
Kumar was made accused by the CBI after he exposed the JBT recruitment scam.
The 55 persons convicted by the court on Wednesday include 16 women.
Except the accused, their counsel, prosecutors and the court staff, the judge did not allow anyone else to enter the court room.
The relatives and family members of the accused and media persons were asked to stand behind the barricades set up outside the courtroom, as the proceedings were held amidst tight security.
The CBI had on 6 June 2008, charge-sheeted the Chautalas, Indian National Lok Dal (INLD) leaders, and others in connection with the scam relating to appointment of 3,206 junior basic teachers in the state during 1999-2000.
In its charge-sheet, the CBI had said that the probe established the manner in which the second lists were made by calling the chairpersons and members of the district-level selection committees of 18 districts to Haryana Bhawan here and a guest house in Chandigarh, where the modalities were worked out.
The CBI, in its charge-sheet, had also said that the father-son duo had used forged documents to appoint 3,206 teachers.
The Supreme Court had in its order on November 25 2003, directed CBI to take up the investigation of the case.
HDFC Life Pension Super Plus is a regular premium unit linked plan while HDFC Life Single Premium Pension Super is a single premium unit linked plan
Kochi: HDFC Life, one of India's leading life insurance companies, has announced the launch of two pension plans in Kerala, reports PTI.
While HDFC Life Pension Super Plus is a regular premium unit linked plan, HDFC Life Single Premium Pension Super is a single premium unit linked plan.
Announcing the schemes, Sanjay Tiwari, Vice President- Strategy and Products-HDFC Life told reporters that they were the first private life insurance company to bring back pension plans to customers under the new regulatory regime.
There has been good response to the schemes so far all over the country, he said adding so far Rs100 crore had been collected as premiums.
The two schemes are designed to build a sizeable corpus for post retirement income and offers assured vesting value with minimum guarantee benefits, he said. Both the plans offer assured benefit on death and vesting.
HDFC Life Pension Super Plus offers assured death benefit of total premiums paid to date accumulated at a guaranteed rate of 6% per annum and an assured vesting benefit of 101% of total premiums paid. HDFC Life Single Premium Pension Super offers assured benefit of 101% of total premiums paid on death and vesting.
HDFC Life has also launched a traditional annuity plan-- HDFC Life New Immediate Annuity Plan. As per IRDA's new guideline, customers need to purchase immediate annuity from the proceeds of the Pension Plan from the same company.
Tiwari said in India there was a paradigm shift in retirement trends and the increase in life expectancy.
Individuals opt for retirement as early as at 40-45 years and go on to live beyond 80-85 years.
This emerging trend is expected to boost the Annuity market substantially in the next few years, he said. The entry age of HDFC's Immediate Annuity Plan ranges from 30-85 catering to the diverse spectrum of customers across all age bands with 11 different annuity options for both individual and joint lives, he said.
The minimum purchase price of Annuity is Rs2 lakh. For customers whose purchase price is Rs2.5 lakh and above will have the benefit of higher annuity rates, he said.
Additional features of LIC Nomura MF's ULIS include free accident cover up to Rs1 lakh, guaranteed maturity bonus of 2.5% to 10% of target amount, no exit load as well as auto cover option besides low-cost life insurance
Mumbai: LIC Nomura Mutual Fund has re-launched its open ended Unit-Linked Insurance Scheme (ULIS) with additional features aiming at Rs500 crore assets under management (AUM) by the end of FY13, with one lakh new investors, reports PTI.
"ULIS has a good track record since 23 years. With additional features, we expect the fund to have Rs500 crore AUM, with one lakh new investors," LIC Nomura Mutual Fund CEO Nilesh Sathe told reporters.
The asset management company has tied up with 14 banks to sell this scheme, he said.
At present, ULIS has Rs140 crore AUM, he said, adding that in three years, it plans to have Rs1,000 crore AUM for the scheme.
The scheme's additional features include free accident cover up to Rs1 lakh, guaranteed maturity bonus of 2.5% to 10% of target amount, no exit load as well as auto cover option, besides low-cost life insurance.
Fund allocation is balanced with 65 to 80% invested in equity and 20 to 35% in debt, he said.
The fund, which has three-year lock-in period, allows partial withdrawal subject to minimum balance requirement and top-up facility.
Investment in ULIS as well as its dividend is tax free.