Nation
Madras HC orders CBI probe into pre-poll seizure of Rs 570 cr
The Madras High Court on Monday directed the Central Bureau of Investigation (CBI) to probe the transport of Rs570 crore in three containers and its seizure near Tiruppur in Tamil Nadu in May 2016.
 
The court ordered the CBI to take action as per law if it finds sufficient material in support of the petition filed by a DMK leader.
 
The court heard the petition filed by DMK spokesperson T.K.S. Elangovan alleging serious doubt about the genuineness of the belated claims of the State Bank of India (SBI) over the Rs570 crore seized during the run-up to state assembly elections held on May 16.
 
On May 13, 2016, the Election Commission's surveillance team at Tiruppur chased and seized three container lorries transporting cash to the tune of Rs570 crore.
 
The seized lorries were brought and parked in the office of District Collector of Tiruppur from May 14-17, 2016.
 
The SBI has said that the cash belonged to it and it was being transported to its cash chest in Andhra Pradesh when it was seized by the Election Commission officials.
 
According to Elangovan, huge cash should be transported by rail and escorted by local police which was not done in this case.
 
He also alleged that the cash transfer was not supported by proper documentation.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Few takers of office space in first half of 2016: Study
There were few takers of office space in leading eight cities of India in the first half of 2016 owing to slow take-up of space by the IT and BFSI industry, though the second half of the year looks promising, a study said.
 
"The first half of the year has been a mixed bag for the key markets with large volume locations like Bangalore and Mumbai seeing a drop in net absorption owing to slower take-up of space by IT (Information Technology) and BFSI (Banking, Financial services and Insurance) sectors," said a report by real estate consultancy Cushman and Wakefield.
 
The net absorption of office space declined 18 per cent year-on-year across the top eight cities, including Chennai, Pune, Mumbai and Be ngaluru, in the first six months of 2016, it said.
 
"The first half of the year was marked by unavailability of quality space in many cities, while other cities saw prevalence of small-sized deals, which together led to a decline in overall net absorption," the report said.
 
"This, however, is going to be only temporary as the second half looks promising," it said.
 
"A large number of companies has committed space, foreseeing limited availability of upcoming quality stock in select markets which will push up absorption in the second half of the year. These pre-commitments are bound to steer net absorption, going forward," Anshul Jain, Managing Director (India) of Cushman and Wakefield, said. 
 
"India's economic growth story remains strong with additional fillip coming in from the government in the form of relaxation of FDI in a number of sectors. All this will help the office space market to remain positive with absorption levels remaining positive for the rest of the year," Jain added.
 
In the same period Hyderabad, Delhi-NCR, Ahmedabad and Kolkata recorded a rise in net absorption of office space, the report stated.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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China bans online media from publishing unverified content
Chinese internet regulators have banned online media from publishing unverified news reports and content from social media, the authorities said.
 
Every news item taken from social media must be verified before publishing.
 
Cyberspace Administration of China (CAC) issued a notice late Sunday stating that news websites must accredit sources, and were banned from fabricating stories or distorting facts, Xinhua news agency reported.
 
The CAC punished some major websites which fabricated stories this year, including sina.com, ifeng.com, 163.com and the site run by one of the country's biggest internet companies, Tencent.
 
In February, a journalist from the Caijing Magazine wrote a story based on fabricated online content describing a village in northeast China where villagers do not respect the elderly and women are promiscuous. The story went viral. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Deepak Narain

5 months ago

This is a welcome step by the Chinese authorities. Anybody writing untrue articles/comments must be held accountable and punished as necessary.

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