Citizens' Issues
“Cancel bail of A Raja and others in 2G scam after deposition from Vahanvati”

The deposition of GE Vahanvati before the JPC makes it a strong case for the investigating authorities to approach the court for cancelling the bail to A Raja and other accused in the 2G scam, demands an activist


Gulam E Vahanvati, former Solicitor General and current Attorney General, told the Joint Parliamentary Committee (JPC) probing the 2G scam that the press note about 2G licences was changed at the last minute by the then telecom minister A Raja, thus betraying his trust in the process. Following this deposition, Right to Information (RTI) activist Subhash Chandra Agrawal has asked for the cancellation of bail to A Raja and others, who were arrested in the 2G spectrum allocation scam.

 

“In view of deposition of GE Vahanvati before the JPC, the investigating authorities should approach the courts for immediate cancellation of bail to former Union minister A Raja and other accused on bail in respect of 2G-scam,” Mr Agrawal, an ardent RTI activist said.

 

He said, the Attorney General confirmed before the JPC that he was consulted in drafting a press note on allotment of 2G spectrum. However, as per rule 8(e) of the Law Officers (Service and Conditions) Rules 1987, any law officer of the Union Government shall not give any advice to any government department or ministry unless the Union ministry of law and justice sends a proposal for the same.

 

“Therefore, the law ministry and the Attorney General should make it clear if involvement of GE Vahanvati in any consultation or drafting on allotment of 2G spectrum was done after receiving a proposal from the Ministry or not,” Mr Agrawal said.

 

Earlier, replying to an application filed by Mr Agrawal under the RTI Act, AS Malhotra, PPS to the then Solicitor General (and now to the Attorney General) has clarified about the meeting. He said, “In the first week of December 2007, there was a discussion held with the then Union minister of external affairs in relation to the issues raised in the proceedings filed by Cellular Operators Association of India (COAI) before the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) in relation to allocation of spectrum. The minister of communication & IT was present. The contentions of the COAI and those of the Department of Telecommunications (DoT) were explained to the minister.”

 

“No written advice was given (by the Solicitor General). A brief note was prepared and handed over to the minister. A copy of the note was not retained in the office,” he said in the reply.

 

 

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Cipla’s revenues moderate, grow by 18% to Rs2,103 crore

Cipla’s domestic and international business grew while its international API formulations business shrunk

Cipla’s gross revenues grew by 18% year-on-year to Rs2,103 crore for the quarter  ended December 2012 compared to Rs1,783 crore for the same period last year. Its operating margins grew by 25.4% to Rs493 crore, up from Rs393 crore in for the corresponding period last year.

 

Similarly Cipla’s net profit rose 25.5% to Rs339 crore, up from Rs270 crore it recorded during Q3 of the 2011-2012 fiscal.

 

Exports of formulations, for its international business, grew by 38% to Rs969 crore during Q3FY13, when compared to Rs702 crore. However, exports of APIs fell 16% to Rs137 crore from Rs164 crore.

 

The growth in exports revenues was primarily due to growth in anti-depressants, anti-malarials, anti-retroviral and anti-asthma segments, while growth in domestic market were due to increased anti-asthma, antibiotics and cardiovascular therapy sales.

 

Cipla has a global turnover of $1.4 billion and serves doctors and patients in over 170 countries. It has earned a name for maintaining one global standard across all its products and services.

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Essel Propack records impressive 69% increase in net profit at Rs22.27 crore

The company has reported solid results for the December 2012 quarter while signing a new long-term contract in Poland worth 15 million euros


Essel Propack, a specialised packaging company promoted by the Essel Group, has reported nearly 8% year on year increase in consolidated sales to Rs 447.93 crore, for the quarter ended December 2012, when compared to Rs414.76 crore for the same period last year.

 

Its net profit was at Rs22.27 crore for the three months ended December 2012, up nearly 70% when compared to the Rs13.71 crore it recorded in the corresponding period last year.

 

Essel Propack’s subsidiary in Poland has been awarded a long-term contract by a leading multinational FMCG player for supply of tubes in Europe. Upon fully ramping up, this contract will contribute annually around 15 million euros in revenue. The faith of this leading FMCG player has reaffirmed the capability and leadership of the company in the European tube market.

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