Kejriwal invites but Anna Hazare still 'not well' for swearing-in ceremony

Kejriwal said he would personally invite Anna Hazare, his guru, but the Gandhian said he may not attend swearing-in ceremony due to his ill-health

Arvind Kejriwal, the founder of Aam Aadmi Party and Delhi's Chief Minister designate on Thursday said he would personally invite his 'guru' Anna Hazare for his swearing-in ceremony at the historic Ramlila Maidan on Saturday.


Speaking with reporters, Kejraiwal said, “Anna Hazare is my guru and I would personally talk to him on phone to invite him for the swearing-in ceremony”.


However, Hazare, the social activist when asked if he would travel to Delhi for the ceremony, said, “I am not well”. When asked again at in his native Ralegan Siddhi village, Hazare said, “I can’t say right now. I am not well”.


The Gandhian had said two days back that he is yet to receive an invitation for the swearing-in ceremony but would not attend even if he got one owing to ill-health.


Hazare had earlier declined to comment on the Kejriwal-led AAP’s decision to form the new government in Delhi, but added he would express his views when his former protégé acts on the Lokayukta issue.


Hazare had parted ways with Kejriwal following his decision to form a political party.


The relations between the Gandhian and the AAP convener had hit a new low when he recently ordered a frontline leader of Kejriwal’s party Gopal Rai to leave his fast venue and village after he engaged in a spat with former Army chief General VK Singh. Singh had slammed Kejriwal and others for having deserted Hazare and formed a political party.


The AAP had immediately recalled Rai from Hazare’s fast venue.


Morgan Stanley sells almost entire stake in Jindal Saw

Post the sale, Morgan Stanley holds just over 1,000 shares in Jindal Saw

Financial services company Morgan Stanley has sold its almost entire stake in Jindal Saw Ltd through open market operations. No financial details were provided.


Following the sale, Morgan Stanley now holds 1,092 shares or 0.0004% stake in Jindal Saw.


In a regulatory filing, the pipe maker said Morgan Stanley had sold 1,48,74,295 shares or 5.3848% stake in the company on 23rd December. Before the transaction, Morgan Stanley had 1.48,75,387 shares or 5.3852%stake in Jindal Saw.


Jindal Saw closed Thursday 1.9% higher at Rs52on the BSE, while the 30-share Senex ended marginally up at 21,074.


NSEL investors seek forensic audit of all major brokers

According to NSEL Investor's Action Group, brokers of the Exchange have played an active role in theRs5,600 crore scam and the EOW must also investigate the disparity in pair trades

Calling National Spot Exchange Ltd (NSEL) as a 'dummy exchange with Ponzi financing scheme', the NSEL Investor's Action Group has requested Mumbai police to initiate a forensic audit of all major brokers and investigate the role of brokers in the pair trade scam in the Exchange.


The Action Group, in a letter, said, "There were only 18 borrowers (after removing sister companies) on one side and 13,000-odd investors on the other side. There cannot be any genuine exchange in the world, where the disparity between the two sides of players would be so huge. The brokers who used to receive and raise bills on these 18 companies fully knew about this. Also, the prices of commodities were never ‘market discovered’ by ‘live bids and offers’ (like any other exchange), but rigged from the back-end with the full knowledge of brokers".


The Action Group has requested the Economic Offences Wing (EOW) of Mumbai Police to consider 15 points in their investigation in the Rs5,600 crore NSEL scam. The points include, disparity of number of players on both sides of NSEL pair trades, non-collection of delivery order or warehouse receipts by brokers, difference in time between purchase and sale transactions, purchase effected without order from client, manipulation of market, changing of code in the Exchange, cancellation of purchases, brokers themselves acting as carry & forward (C&F) agents, payment of sales tax where there is no stock, collection of brokerage, transaction charges and delivery charges when the stock never existed, financing clients through their non-banking finance companies (NBFCs), maintenance of Settlement Guarantee Fund (SGF), false inducement of safety, the nexus between brokers and borrowers and brokers knowledge about financing NBFC-like activity.


As pointed out by Moneylife, the fact is that it was the brokers, who lured investors in the first place to get risk-free gains from NSEL.


Earlier in August, NSEL filed a complaint against five of its defaulting members, Ark Imports Pvt Ltd, Lotus Refineries Pvt Ltd, NK Proteins Ltd, Vimladevi Agrotech Ltd and Yathuri Associates before the investigation authorities.


As per the rules and bye-laws, the Exchange also asked these defaulting members to submit their books of accounts and hand-over all the collaterals to NSEL.


Here is the letter sent by NSEL Investor's Action Group...



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