‘Cellphones can be searched in Canada without a warrant’

The case concerned a jewelry heist in which police arrested two suspects and, upon searching one of their cell phones, discovered an incriminating text message and a photo of a handgun


Police in Canada don’t need a judge’s permission to search a suspect’s cell phone so long as they follow certain steps, the Supreme Court of Canada ruled on Thursday, reports a the technology website Gigaom. This was a split decision and comes as a setback for privacy advocates.


The case concerned a jewelry heist in which the police arrested two suspects and upon searching one of their cell phones, discovered an incriminating text message and a photo of a handgun. This was used as evidence to convict the criminals.


The suspects took the defence that since their privacy had been breached and the search took place without a warrant, it violated their constitutional rights against unreasonable search and seizure, since cell phones contain personal information.


The judges overruled the argument and concluded that the balance between privacy and security favoured the police in this case. They ruled that a warrant was not necessary so long as the police limited the scope of their search, and so long as they took notes of what they were doing.


Social media and personal gadgets are increasingly being used by law enforcement, with agencies at all levels scouring postings for evidence of crimes, giving the courts an opportunity to decide what restrictions are needed to safeguard privacy.


CBI chargesheets ex-Jharkhand CM Madhu Koda as accused in coal scam

Koda was chargesheeted for offences of criminal conspiracy and cheating


Former Jharkhand chief minister Madhu Koda was chargesheeted on Friday, as accused by the Central Bureau of Investigation (CBI), in the coal blocks allocation scam case.


Koda was chargesheeted for offences of criminal conspiracy and cheating. Besides Koda, former Jharkhand chief secretary Ashok Kumar Basu and six others have also been booked by the probe agency.


The Court has fixed December 22, as the date for considering the CBI's chargesheet in the case.


Earlier, the CAG follow-up report pertaining to revenues of the Jharkhand government had stated that Madhu Koda, then chief minister of the state, had allegedly meddled with the recommendations of a screening committee for coal allocation in the state.


The CAG report had blamed both the Centre and Koda for changing the recommendations for allocation of six coal blocks in Jharkhand.


Koda seemingly had made changes in the list of companies recommended by the screening committee, which had gone through 210 applications to finally approve 10 of them. Koda, moreover, took out names of three companies, and added five new companies in the final list, which was approved by the Centre later. He did so without stating any reasons for the change.


The CAG had sought response from the Jharkhand Government about this in 2012 but to no avail.


Koda was questioned by the CBI officials this April in connection with their probe into coal blocks allocation scam.


Earlier, Koda was also questioned for his alleged role in allocation of Amarkonda Murgadangal coal block in Birbhum.


Indiabulls Arbitrage Fund: A me-too product

Find out if Indiabulls' latest Arbitrage Fund is worth your time and money


Not wanting to be left out, Indiabulls Mutual Fund launches its very own arbitrage scheme Indiabulls Mutual Fund recently launched its second equity-oriented mutual fund scheme. The new scheme— Indiabulls Arbitrage Fund is not much different from the host of other newly launched hybrid arbitrage schemes available in the market. The equity portfolio, which includes derivatives to take benefit of arbitrage opportunities, will range from 65%-100%. The rest of the portfolio will be invested in debt and money market instrument.


However, in the event of adequate arbitrage opportunities not being available in the equity and derivative markets, “100% of the portfolio may be invested in short term debt and money market instruments (including units of liquid schemes of mutual funds),” mentions the scheme information document.


Arbitrage schemes are not as risky as equity-diversified schemes since they take advantage of mispricing in the spot and derivative market of equities. In other words, they do not take straight exposure to equity. The returns on these schemes are in line with those of liquid schemes and, therefore, they are considered an alternative to low-risk liquid schemes.


This offer document of this scheme does not mention taking any unhedged equity exposure, yet, investors would need to keep an eye on the equity exposure. If the allocation towards equity falls below 65%, this scheme will be considered as a non-equity scheme and taxed accordingly.

The performance of the scheme will be benchmarked to the CRISIL Liquid Fund Index.


Sumit Bhatnagar, who has 14 years of experience in banking and capital market, will manage the equity portfolio of the scheme. Malay Shah, who has an overall experience of 12 years will manage the debt portfolio of the scheme.


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