Stocks
Nifty, Sensex may record more losses – Thursday closing report
While there are chances of an intraday rebound in indices, a fresh downmove seems to have started 
 
We had mentioned in Wednesday’s closing report that Nifty, Sensex were headed sideways with a negative bias and that only if Nifty decisively crosses 8,530, bulls have a chance. In a volatile session, the major indices in the Indian stock market fell sharply by 1%-2%. A continuous slide in the Chinese markets, strain in US stocks and uncertainty over the recommendations on retrospective tax subdued investor sentiments in the Indian equity markets on Thursday.
 
 
Bearish sentiments were seen to rule on the S&P Bombay Stock Exchange (BSE) with its barometer 30-scrip sensitive index (Sensex) closing 324 points or 1.16% down. Nifty of the National Stock Exchange (NSE) closed 122.40 points or 1.44% in the red at 8,372.75 points.
 
Analysts pointed out that weak global cues coupled with uncertainty over the government's retro-tax committee's report dampened the Indian markets. The negative bias washed out healthy macros like announcements about new banks licences and global slide in commodity prices, especially crude oil. 
 
The most significant source for downside for the day emanated from US and Chinese markets. Concerns about the Chinese markets have grown after various efforts by the government, brokerage firms and mutual funds there have failed to arrest the fall.
 
Investors were also cautious about the growing possibility of US raising its interest rate after a decade of easy financing. The intent was made clear by the minutes of the last Federal Open Market Committee (FOMC) meet which was held on July 28-29.
 
Higher interest rates in the US are expected to lead the FPIs (Foreign Portfolio Investors) away from emerging markets such as India.
 
The markets were also anxious to know the government's position on the recommendations made by the Justice AP Shah committee on minimum alternate tax (MAT).
 
The MAT issue on capital gains tax is expected to impact the margins of foreign funds. This might impact the inflows from the FPIs into Indian stock markets.
 
At the same time, the rupee touched a new two-year low in the intra-day trade at Rs65.69 to a dollar -- the lowest since September, 2013. It later closed at Rs65.56.
 
Sector-wise, all 12 indices of the BSE except for fast moving consumer goods (FMCG) and healthcare stocks closed in the red.
 
The S&P BSE FMCG index rose by 106.10 points and the healthcare index gained 68.94 points.
 
On the other hand, the S&P BSE banks index plunged by 499.82 points, automobile index receded by 353.22 points, capital goods index declined by 328.92 points, information technology (IT) index lost 269.65 points and consumer durables index dropped by 214.12 point.
 
Major Sensex gainers in Thursday's trade were: Lupin, up 5.39% at Rs1,892.10; ITC, up 3.90% at Rs329; Dr Reddy's Lab, up 1.54% at Rs4,297; and Sun Pharma, up 0.91% at Rs935.65.
 
The major Sensex losers were: Vedanta, down 4% at Rs98.50; Axis Bank, down 3.68% at Rs534.20; Reliance Industries, down 3.55% at Rs918.85; BHEL, down 3.30% at Rs253.35; and Tata Steel, down 3.30% at Rs241.65.
 
Among the Asian markets, Japan's Nikkei fell by 0.94%, Hong Kong's Hang Seng dropped by 1.77% and China's Shanghai Composite Index lost 3.39%. 
 
The top gainers and top losers in the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 
Among European indices, DAX was at 10,557.71, down 1.16% and FTSE 100 was at 6,370.13, down 0.52%.

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PMO, President Secretariat treat OROP petitions and letters as a routine matter
Replies received under RTI by Commodore Lokesh Batra (retd) reveal how the President’s Secretariat and even PMO operate like a post office, simply forwarding the petitions and letters sent by top ranking officials on One Rank One Pension (OROP) 
 
The One Rank One Pension (OROP) – the uniform pension for Armed Forces personnel retiring in the same rank with same length of service irrespective of their date of retirement – has become an embarrassment for the Narendra Modi government, ever since the veterans showcased their strength at Jantar Mantar followed by 10 former service chiefs writing a letter to the Prime Minister early this week.
 
The present agitation by the former Defence Forces personnel is the culmination of a series of petitions made by them but handled casually as per information revealed through Right to Information (RTI) Act. Activist Commodore Lokesh Batra (retd) had filed several of such RTI applications and found the shabby treatment given to these petitions. This is particularly, in cases where 22,000 gallantry medals were returned to the President of India’s office over the years between 2009 and 2014. 
 
In other cases like, the blood-signed petition submitted to the President’s office in June 2015 and the open letter sent to the Prime Minister’s Office (PMO) office early this week, the treatment has been equally disdainful. As per the replies, all that the President’s Secretariat and PMO have done is to forward these petitions to the Ministry of Defence (MoD), as a matter of routine and there is no will to implement it or to take up the matter seriously, Batra says.
 
As the RTI replies reveal, the gallantry awards were returned in various phases. The President’s Secretariat in its reply to Batra gives the list of dates when the medals were returned. They were on – 2 August 2009 (3 sealed boxes of medals); 14 March 2009 (2 sealed boxes of medals); 12 April 2009 (1 sealed boxes of medals); 13 September 2009 (2 sealed boxes of medals); 25 October 2009 (1 sealed box of medals); 14 Mach, 2010, 22 August 2010, 28 November 2010, 6 March 2011, 1 December 2012 and the recent two letters, one to the PMO office and the other to the President of India. 
 
The Indian Ex-Servicemen Movement (IESM) had shown disgust at the manner in which an officer of the President’s Secretariat had received the gallantry medals instead of the then President of India, Pratibha Patil personally receiving it, in her capacity as Supreme Commander of the Armed Forces. As per the RTI replies, all these petitions have been routinely forwarded to the MoD’s Department of Ex-Servicemen Welfare for action.
 
Maj Gen Satbir Singh (retd) also sent a letter on 14 June 2015 to the PMO, which was also routinely forwarded to the Department of Ex-servicemen Welfare. According to the reply received by Batra under the RTI, "The letter dated 14.6.2015, received in this office from Major General Satbir Singh (retd.), has been forwarded to the Department of Ex-servicemen Welfare, Ministry of Defence, Government of India, for appropriate action vide this office's ID No. PMOPG/D/2015/0131255 dated 18.6.2015. The letters received from citizens are processed through the computerised software system and without any file noting in the Public Wing of the Prime Minister's Office, therefore, no copy of noting can be provided."
 
The President Secretariat while replying to query from Batra stated, “Kindly refer to your RTI application dated 17.06.15 through e-mail. In this regard, it is informed that- (a) the memorandum dated 14.06.2015 was received on 15.06.2015. A copy of the petition is enclosed. (b) The memorandum in original was forwarded to the Joint Secretary (ESW), Ministry of Defence, South Block, New Delhi .’’
 
Batra says, “I have no words to express my disenchantment but to hang my head in shame to watch how our brave Veterans and their families who gave their today in safeguard nation's tomorrow... are being dingily treated by the nation.”
 

The RTI applications filed by Commodore Lokesh Batra (retd) are as follows:

 
18 August 2015
 
To,
Shri Pushpendra Kumar Sharma,
US (RTI) & CPIO,
Prime Minister's Office (PMO), South Block,
New Delhi – 110011      
 
Tel: 011-23382590 (O), Email: [email protected]
 
Sub: Application under RTI ACT, 2005
 
Dear Sir,
 
1. Background: The media has reported that the 10 former Chiefs of ‘Indian Defence Forces’ have addressed an ‘Open Letter’ to Hon’ble Prime Minister, Shri Narendra Modi, on the subject of "One Rank, One Pension (OROP)". A scanned copy of the text of the said letter, as available in media, is attached. 
 
2. In the above background/context; please provide me following information: 
 
(a) The date when the Hon’ble Prime Minister and other Senior Most Officer in the PMO, had perused the said Letter of former Chiefs of Indian Armed Forces. Please provide me the certified photocopy of the said Letter/ Petition/Memorandum after it had been perused by Hon’ble Prime Minister, Shri Narendra Modi, and other Senior Most Officer in the PMO.
 
(b) From records of this Public Authority, please provide complete brief on follow up action(s) taken on said Letter /Petition/Memorandum giving date-line.
 
(c) Please provide me list of file(s)/records with reference number(s) on which the said Letter / Petition/Memorandum of former Chiefs of Defence forces was/ being processed. I would like inspect these records at mutually convenient date and time. At that stage, I will take certified copies of relevant documents in the file(s) / records.
 
3. The above information (signed & scanned pdf copy) may kindly be provided to me by E-Mail on my two Email IDs: [email protected] and   [email protected]
 
4. I am attaching an e-IPO No.:M15160001306 of Rs.10/- as RTI Fee.
Attachments: 02 (signed & scanned of: RTI with enclosure + e-IPO)
 
Yours’ Sincerely,
{Commodore Lokesh K Batra (Retd.)} IN-1967
H-02, Sector-25, Jalvayu Vihar, Noida-201301, INDIA (Presently Traveling)
 
------------------------------------------------------
 
By Email only
 
22 June 2015
 
To,
Shri Pushpendra Kumar Sharma,
US (RTI) & CPIO,
Prime Minister's Office (PMO), 
South Block,
New Delhi – 110011
 
Tel: 011-23382590 (O), Email: [email protected]
 
Sub: Application under RTI ACT, 2005
 
Dear Sir,
 
1. Background: This is with reference to Media reports that on or around 14 June 2015, a Petition/Letter has been submitted by Major General Satbir Singh, SM (Retd.), Chairman, IESM, on subject “One Rank, One Pension (OROP)”, addressed to the Hon’ble Prime Minister. 
 
2. In the above background/context; please provide me following information: 
(a) The date when Hon’ble Prime Minister and other Senior Most Officer in the PMO, had perused the said Petition/Letter. Please provide me the certified photocopy of the said Petition/Letter after it had been perused by the Hon’ble PM and other Senior Most Officer in the PMO.
 
(b) From records of this Public Authority, please provide complete brief on follow up action(s) taken on said Petition/Memorandum/Letter giving date-line.
 
(c) Please provide me list of file/files/records with reference number(s) on which the said Petition/Letter of Ex-servicemen was /being processed.
 
(d) I would also like to inspect all the file/files concerned with processing of above mentioned letter on subject “One Rank, One Pension (OROP)”. At that stage, I will take photocopies (duly certified) of the documents and notings in the file(s) as required by me. 
 
3. The above information (signed & scanned copy) may kindly be provided to me by E-Mail on my two Email IDs: [email protected] and   [email protected]
 
4. I am attaching an e-IPO No.:M15160000611 of Rs.10/- as RTI Fee.
Attachments: 02 (signed & scanned of RTI +e-IPO)
 
Yours’ Sincerely,
{Commodore Lokesh K Batra (Retd.)} IN-1967
BringChangeNow
H-02, Sector-25, Jalvayu Vihar, Noida-201301, INDIA (Presently Traveling)
 
------------------------------------------------------
 
By Email only
 
14 August 2015
 
Shri Niranjan Kumar Sudhansu,
Director and CPIO,
The President’s Secretariat, Rashtrapati Bhavan,
New Delhi-110004
 
Email: [email protected] & ID: [email protected]
 
Tel : 011-23015321 Extn: 4444(O), RTI Nodal Officer :[email protected]
 
Sub: Application under Right to Information Act 2005
 
Dear Sir,
 
1. Background: The media has reported that the four former Chiefs of ‘Indian Armed Forces’ namely: former Army Chief General SF Rodrigues, and former Navy Chiefs, Admirals L Ramdas, Arun Prakash and Sureesh Mehta have addressed an ‘Open Letter’ to H.E. the President of India, Shri Pranab Mukherjee to "urgently intervene" to ensure "One Rank, One Pension (OROP)". A scanned copy of the text of said letter is attached. 
 
2. In the above background/context; please provide me following information: 
 
(a) The date when H.E. the President and other Senior Most Officer in the President’s Secretariat, had perused the said Letter of former Chiefs of Indian Armed Forces. Please provided me the certified photocopy of the said Letter/ Petition/Memorandum after it had been perused by H.E the President India and other Senior Most Officer in the President’s Secretariat.
 
(b) From records of this Public Authority, please provide complete brief on follow up action(s) taken on said Letter /Petition/Memorandum giving date-line.
 
(c) Please provide me list of file(s)/records with reference number(s) on which the said Letter / Petition/Memorandum of former Chiefs of Armed forces was/ being processed. I would like inspect these records at mutually convenient date and time. At that stage, I will take certified copies of relevant documents in the file(s) / records.
 
3. The above information (signed & scanned pdf copy) may kindly be provided to me by E-Mail on my two Email IDs: [email protected] and   [email protected]
 
4. I am attaching an e-IPO No.:M15160001268 of Rs.10/- as RTI Fee.
Attachments: 03 (signed & scanned of RTI +e-IPO + copy of said Letter)
 
Yours’ Sincerely,
{Commodore Lokesh K Batra (Retd.)} IN-1967
H-02, Sector-25, Jalvayu Vihar, Noida-201301, INDIA (Presently Traveling)
 
------------------------------------------------------
 
By Email only
 
17 June 2015
 
Shri Saurabh Vijay,
Director and CPIO,
The President’s Secretariat, 
Rashtrapati Bhavan,
New Delhi-110004
 
Tel: 011-23016767(O), Email: [email protected] & ID: [email protected]
 
Sub: Application under Right to Information Act 2005
 
Dear Sir,
 
1. Background: This is with reference to Media reports that a few days ago a Petition/Memorandum/Letter has been submitted by the Ex-servicemen (ESMs), regarding their demand of “One Rank, One Pension (OROP)”, addressed to H.E. the President of India. I am also aware that in the past few years the delegations of Ex-servicemen have also returned/ deposited their Medals with President’s Secretariat.
 
2. In the above background/context; please provide me following information: 
 
(a) The date when H.E. the President and other Senior Most Officer in the President’s Secretariat, had perused the said Petition/Memorandum/ Letter. Please provided me the certified photocopy of the said Petition/Memorandum/Letter after it had been perused by H.E the President and other Senior Most Officer in the President’s Secretariat.
 
(b) From records of this Public Authority, please provide complete brief on follow up action(s) taken on said Petition/Memorandum/Letter giving date-line.
 
(c) Please provide me list of file/files/records with reference number(s) on which the said Petition/Memorandum /Letter of Ex-servicemen was /being processed. 
 
(d) From records of this Public Authority, please provide number of Medals deposited by ESMs with dates of depositing. Also provide brief on follow up action(s) taken on Medals deposited in the past by ESMs giving date-line.
 
(e) Also provide Email ID(s) and contact details of RTI Nodal Officer /RTI Cell.
 
3. The above information (signed & scanned copy) may kindly be provided to me by E-Mail on my two Email IDs: [email protected] and   [email protected]
 
4. I am attaching an e-IPO No.:M15160000553 of Rs.10/- as RTI Fee.
Attachments: 02 (signed & scanned of RTI +e-IPO)
 
Yours’ Sincerely,
{Commodore Lokesh K Batra (Retd.)} IN-1967
H-02, Sector-25, Jalvayu Vihar, Noida-201301, INDIA (Presently Traveling)
 
(Vinita Deshmukh is consulting editor of Moneylife, and also convener of the Pune Metro Jagruti Abhiyaan. She is the recipient of prestigious awards like the Statesman Award for Rural Reporting which she won twice in 1998 and 2005 and the Chameli Devi Jain award for outstanding media person for her investigation series on Dow Chemicals. She co-authored the book “To The Last Bullet - The Inspiring Story of A Braveheart - Ashok Kamte” with Vinita Kamte and is the author of “The Mighty Fall”.
 

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COMMENTS

manoharlalsharma

2 years ago

PMO, President Secretariat treat OROP petitions and letters as a routine matter/ NOTHING SETTLES WITH STATE/CENTRAL GOVERNMENT WITHOUT INTERVENING OF HC/SC we 316 PEOPLES WIDE EX PRINCE IN A TINY MATTER OF MEMBERSHIP IN A HOUSING SOCIETY.

SK RATHEE

2 years ago

What is the role of The President of India as Supreme Commander of the Armed Forces? Unfortunately, it seems the understanding is limited to taking salute on the Republic Day Parade and having some ADCs around for investiture ceremonies and nothing else. Surprisingly, the President's staff does not even inform him about matters military, despite the fact that there is a MIlitary Secretary to the President. Does the President never ask whether all is well with his armed forces? That is why even atheist foreign visitors start believing in God after visiting India, because they feel that there is some supernatural power running this country that things are going on despite its self-serving politicians and wily and inefficient bureucracy.

SK RATHEE

2 years ago

What is the role of The President of India as Supreme Commander of the Armed Forces? Unfortunately, it seems the understanding is limited to taking salute on the Republic Day Parade and having some ADCs around for investiture ceremonies and nothing else. Surprisingly, the President's staff does not even inform him about matters military, despite the fact that there is a MIlitary Secretary to the President. Does the President never ask whether all is well with his armed forces? That is why even atheist foreign visitors start believing in God after visiting India, because they feel that there is some supernatural power running this country that things are going on despite its self-serving politicians and wily and inefficient bureucracy.

SK RATHEE

2 years ago

What is the role of The President of India as Supreme Commander of the Armed Forces? Unfortunately, it seems the understanding is limited to taking salute on the Republic Day Parade and having some ADCs around for investiture ceremonies and nothing else. Surprisingly, the President's staff does not even inform him about matters military, despite the fact that there is a MIlitary Secretary to the President. Does the President never ask whether all is well with his armed forces? That is why even atheist foreign visitors start believing in God after visiting India, because they feel that there is some supernatural power running this country that things are going on despite its self-serving politicians and wily and inefficient bureucracy.

pramod mathur

2 years ago

Apathy shown by the very responsible officers is disgusting and shameful.This is an indicator of their ignorance.The nation should repay its debt to the vetrons who have sacrificed their youth in the security of their motherland.



pramod mathur

2 years ago

Apathy shown by the very responsible officers is disgusting and shameful.This is an indicator of their ignorance.The nation should repay its debt to the vetrons who have sacrificed their youth in the security of their motherland.



TIHARwale

2 years ago

The order No. 12(01)/2014-D(Pen/Pol) dt. 24.4.2014 issued by Shri Chanan Ram, DS (Pen), DESW clearly says "the principle of OROP implies that uniform pension be paid to the Armed Forces Personnel retiring in the same rank with the same length of service irrespective of their date of retirement and any future enhancement in the rates of pension to be automatically passed on to the past pensioners. Further two Parliaments have also passed the above principle and it was to be effective from 1.4.2014. Therefore, the pension which was admissible to a EX-S retiring on 1.4.2014 would have to be automatically passed on to his counterpart past pensioners. The calculation is very simple. Now it is not understood what prevails the Govt. to negotiate to reduce the quantum of pension and alter effective date. Once the issue is already settled vide above Govt. letter, then Govt. should honour its commitment and issue implementation order for OROP without delay.

In other words Feku56 is now cheating the ex-servicemen where as what is stopping him from announcing he and fellow BJP elected representatives will not avail pension if they had not completed 20 years as elected representatives, where as at present they are collecting it after a five year term itself

REPLY

Shirish Sadanand Shanbhag

In Reply to TIHARwale 2 years ago

Mr Tiharwala, Please dont compare MPs and MLA's pensions with other salaried persons' pensions.

All MPs and MLAs have passed their enhanced pension in the Parliament, even if they complete just one term of their elected post. Our legislators have taken ample precautions in passing their revised new pension, by making amendments that even if lok sabha or assembly is dissloved, before completion of its 5 year term, legislators will get their full pension, as if they have completed 5 yaers' term. Their pension is minimum of Rs.40,000 for assembly member and Rs.80,000 for loksabha member, if one elected term is completed. More number of elected terms are completed by your MP or MLA his/her pension is higher, and it may cross Rs.1,00,000/-, for two or more terms. This pension is heritable to legislator's spouse fully.

We cannot compare Legislator's pension with retired government employee's pension. Under the guidance of Congress MP, Barrister Antuly, a committee was set up then, which has revised their pension to all the legislators of Centre and the State.

If one rank one pension is granted to Armed Force retirees, then why same cannot be applied to all other retirees? Is inflation is applicable only to the retired armed forces? Other pensioners can pull themselves with existing low pension?

webkitendfullscreen

2 years ago

This is the reason our senior officers are reluctant to approach various ministries concerning the welfare measures for correction. It is a non performing governance.

AM Manohar

2 years ago

This is the reason our senior officers are reluctant to approach various ministries concerning the welfare measures for correction. It is a non performing governance.

Shirish Sadanand Shanbhag

2 years ago

One rank one pension let us view it in short with example, to make it clear to the general public.

A pension scale starts with the length of service and on last drawn pay. As a matter of thumb rule, its amount is almost 35% of the last drawn salary, if you complete 33 years of uninterrupted (continuous) service. For every one year less than 33 years, you lose 3% of your applicable pension.

For example, let us say your last monthly salary is Rs.60,000/-. Then you will get 35% of last salary, Rs.21,000/- pension, if you complete 33 years of service. If you complete lesser service, then for every one year less than 33 years, you will get Rs.630/- less than Rs.21,000/-, for every one year lesser.

For example, if you have completed 23 years of service then your pension will be Rs.21,000/- minus Rs.6,300/- equal to Rs.14,700/-.

Government of India, every year adds dareness allowance on basic pay, to meet the inflation. After 10 years, Government's Pay Commission merges dareness allowance in the basic pay, and new scale with higher basic pay and higher increment rate comes into picture.

For example, a Major in army, who retired in the year 2005, his scale covered under Fifth Pay Commission. Army Major who retired in the year 2015, is covered under sixth pay commission, which has come into force from 1.1.2006. As on today, even if both are in same rank, with same length of service will get different pension, since their last drawn salay was different.

Armed force personnels are now fighting for the same pension to same rank and same length of their service.

Although their demand is just and right, Government has to think for other pensioners of Central and State Government. If Army personellels get one rank one pension, then it should be given to all the pensioners of Central and State Governments. Other wise it will be the violation of Articles 14 and 21 of the Fundamental Rights of the Constitution of India, and some or other Pensioner's Association may file a Writ Petition against the Government in Supreme Court, under Article 32 of the Fundamental Right for violation of Fundamental Rights under Articles 14 and 21.

Therefore, Government is not proceeding with the demand of retired force personnels' demand for one rank one pension policy.
Even if one rank one pension is implimented, Government is also afraid of claiming back differences by those pensioners, who get their present enhanced pension.

REPLY

webkitendfullscreen

In Reply to Shirish Sadanand Shanbhag 2 years ago

If civilians too want OROP, there must be case initiated with justification as we did in 1973 and wait for some four decades. For us it took 43 years to get a reaction to our demand and may not get it for another decade. Good luck.

SuchindranathAiyerS

2 years ago

Passing the pillow with OROP At this time, I wish to recount the tale of my Dad's immediate elder brother, Mr. R. Ekambaram. He was in School at the time andwhen H.M. George VIth was crowned, wrote him a letter congratulating him and wishing him long life and a happy reign where all his subjects may enjoy peace and prosperity. Several weeks later, when he had forgotten about it, he received a personally singed reply of thanks from His Majesty that was hand delivered by a Police despatch rider from the Governor's Office at Madras. Any Commissioned Officer could seek an audence with the viceroy and would get it. Today you have to run from pillar to post and use the highest levels of influence to get a Station House Officer to register a case and take action when a heinous crime such as rape, kidnap or murder is committed. High Court Judges do not know how to add and subtract, insult plaintiffs with gratuitous allegations and proclaim that the Indian Penal Code cannot be applied here because this is neither the US nor UK to let off the wealthy and the influential. Just saying....

kushal shankar ojha

2 years ago

It appears that the writer is not aware of the Constitutional provisions regarding Allocation of Government Business among the various Departments, and is under some confusion re the Powers of the President. First of all, the President has NO POWER to take ANY action on his own, and his Office forwards the letters to the Government. Then, in view of the Rules of Allocation of Business, PMO forwards letters to concerned Departments. BUT, it does not mean that a matter so forwarded is being dealt with casually: in fact, this step ensures active consideration by the concerned Department BECAUSE the PMO may keep an eye on the progress in the matter. So, this should not disturb anyone. This procdeure is in accordance with the Constitution and the Rules framed under the Constitution for smooth discharge of the functions of the Government.

REPLY

webkitendfullscreen

In Reply to kushal shankar ojha 2 years ago

Then why no action is taken on letters forwarded by the President of India Post Office by the ministries concerned?

Shirish Sadanand Shanbhag

In Reply to webkitendfullscreen 2 years ago

Kindly read my letter on OROP.
If OROP is given to the retirees of Forces, then under Constitutional provisions, under Fundamental Rights, Article 14, all other pensioners of the Central & State Governments are also eligible for OROP.

Still, under Article 266 (3), Part XII of the Constitution of India, Central Government may give OROP to all the retirees of the Forces, by using difference in excess pension payment from the Consolidated Find of India, after passing the bill in both the houses of the Pariliament.

webkitendfullscreen

In Reply to kushal shankar ojha 2 years ago

Then why no action is taken on letters forwarded by the President of India Post Office by the ministries concerned?

How e-registration can bring transparency in real estate market
E-Registration of land or property reduces risk of fraud and helps solve disputes easily, in addition to creating and maintaining an up-to-date public record
 
Land or Property Registration refers to the registration of document changes in ownership and transactions involving immovable property. However, the process of registering land or property documents has several loopholes, which lead to middlemen and babus taking undue advantage and fleecing the common man. With the introduction of online registration or e-registration system, many of these issues in the traditional land registration process are rapidly vanishing.  
 
According to Ashwinder Raj Singh, CEO – Residential Services, JLL India, e-registration has simplified the process for providing evidence of titles and facilitating transactions, and will go a long way in preventing the unlawful disposal of land. "The most frequently-occurring type of disagreement in Indian real estate is land dispute. Cases range from of illicit land grabbing and illegal land sales to instances of purchase of land where no actual purchase has taken place – to name just a few. The real estate market has historically been plagued by such issues, and the current government’s initiative of facilitating e-registration to streamline the registration of immovable properties is an extremely progressive move which has been universally welcomed for its transparency and ease of use," he said.
 
The traditional land registration process, based on the Land Registration Act of 1925, typically involved Powers of Attorney, sale or mortgage of land and transfer of property under rent. The Land Registration Act of 2002 introduced this new system using verified electronic signatures to transfer and register immovable property online.
 
Talking about benefits of e-registration of land or property, Mr Singh said, it has provided the much-needed transparency like availability of tree of ownership, reduced visits to different offices, calculation and payment of stamp duty based on stored data. E-registration also helped in rationalising broker fees and negated the need for bribes to officials, he added.
 
States such as Kerala, Orissa, West Bengal, Karnataka, Tamil Nadu, Rajasthan, Jharkhand, Sikkim, New Delhi, Maharashtra, Madhya Pradesh, Punjab and Chhattisgarh have the facility in force since as long as the 1990s. Such states have developed the Common Services Centre (CSC) Scheme, where all registrations are verified. These CSCs cover almost all the rural and urban areas. 
 
Under the computerised Land and Property Registration system, registration is easy. Some states require an application to be submitted to the concerned authority, which may be the Sub-Registrar or the Sub-Divisional Magistrate (SDM) of your area. The application form can either be downloaded online or obtained from the concerned authority's office. After due verification of details, the Deed is drawn up and the registration process is complete.
 
"It pays to remember that a land owner does not exist in the eyes of the government unless the land has been registered. To avoid the risk of personal land being impounded, it makes sense to register all the land documents online today at the respective State’s online website," Mr Singh added. 
 

How to e-Register Land

The procedure of doing e-Registration of land is simple. The land registration and application form can be either downloaded online or obtained from the concerned authority's office in the state. After the verification of form details and the related documents of the concerned person, the land is registered in a matter of days, and this marks the completion of the registration process and establishing the full-accredit ownership of the property.
 

E-registration Procedure in Urban and Rural Areas

Since property in both urban and rural areas property comes under the jurisdiction of the same State Government and both types of areas are managed under a Tehsil (aka taluka or mandal), the e-registration of property (housing or commercial rental) is fairly similar. The process will only differ if the land is vacant or occupied (built upon). 
 
For vacant land, valuation is done at current market price while for occupied land (with built-up properties like shops, flats, cottages, etc.) it is done on the market price as well as the gross investment utilised by a building. For instance, a single-storied house will be valued higher than a multi-storied house if it is a prime location. Otherwise, the latter commands a higher valuation. In addition, leases of immovable property in urban areas command a higher stamp duty (6%), while in rural areas it is lower (5%).

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COMMENTS

manoharlalsharma

2 years ago

How e-registration can bring transparency in real estate market/Still TROUBLE because of MODEL-LITIGANTS like Co-operative housing societies due to ENORMOUS INCREASE LAND PRICES one such example is Since we took over possession of our residential flats in 1996 by paying full payment and then enforced to compromise our self dignity and honour at every AGM / SGM as society committee do not register our names in ‘J’ Register so far and call us ‘NON MEMBERS’ twice the Joint Registrars CBD appointed administrators

(1) in the year of 1999 and after turn down the order by then minister (NCP.,) we filled WP-4481/2001 as a resulted final order issued to change byelaw to society dated-25/08/2003 No- RVA 2702/CR-208/15-C, but Society MC filled against the order 8508/2003 to acclaim STAY and

(2) then once again appointed administrator in 2012 and again concerned minister (CONG.,) turndown the order on the ground of APMC but how far this CIRCULATIVE justice to prevent action taking Authorities against malpractices of MC of the said Housing Society ?

REPLY

Shirish Sadanand Shanbhag

In Reply to manoharlalsharma 2 years ago

Refer your complaint to Moneylife Foundation's Legal Resource Centre, to get you the solution to your problem, by sending a Email to moneylife.in/lrc.html

Meenal Mamdani

2 years ago

Yes, the process seems daunting but it is well worth the time spent.

I had bought property in Pune in 1995 and sold it in 2012. The process was so much easier with e-registration. I hired a lawyer to obtain the necessary documents, she guided me every step of the way and as a result the next owner will have an easier time when she/he sells it in the future. The lawyer's fees was money well spent.

Shirish Sadanand Shanbhag

2 years ago

Registering the vacant or occupied land with the City Survey Office is not that easy work.
Most of the land owners, without making their land Non-Agricultural, have constructed the buildings on them, since up to early seventies, Town Planners' rule to allow construction on open land was not much strict.

If occupied land owner wants to register its name in Property Card, (it is a valuable document, which gives the ownership of the land and the building on it, to its owner, who may be a Society or a private owner.)has to give following documents to the said office:

(1) A Registered Sale Deed of
the land on which Building
is constructed.

(2) A Registered Sale Deed of
the Building on this land.

(3) A documentary proof for the
division of the land, if
said building is constructed
on a big undivided plot of
land.

Item (1) is to be made with the land owner by the owner of the building.

Item (2) is to be made with the builder, who constructs the building for its owner.

Item (3), if not done, it has to be done with the documents of items (1) and (2), from the City Survey Office.

After you do all the three items, with the copy of these documents, you will apply for Property Card with the City Survey Office, who will give you the document, after about three months.

Whole process, if all are (the land owner and the builder) co-operative, then you can get Property Card within one year, considering the time required to do all the documents and the processing of the property card to form, all taken together.

If building belongs to a private party, and owner of the land and the builder are not co-operating with the owner of the building, then he has to move civil court to redress his grievances.

If the building belongs to a Co-operative Housing Society, and both (Land owner and the builder)are not co-operating, then you have relief through "Deemed Conveyance" method, only in Maharaashtra State.
At other states, you may have to take up the matter with Consumer Forum or civil Court, for this work.

For any difficulties in this respect, kindly contact Legal Resource Centre of Moneylife Foundation on its Email ID:
moneylife.in/lrc.html

Shirish Sadanand Shanbhag

2 years ago

Registering the vacant or occupied land with the City Survey Office is not that easy work.
Most of the land owners, without making their land Non-Agricultural, have constructed the buildings on them, since up to early seventies, Town Planners' rule to allow construction on open land was not much strict.

If occupied land owner wants to register its name in Property Card, (it is a valuable document, which gives the ownership of the land and the building on it, to its owner, who may be a Society or a private owner.)has to give following documents to the said office:

(1) A Registered Sale Deed of
the land on which Building
is constructed.

(2) A Registered Sale Deed of
the Building on this land.

(3) A documentary proof for the
division of the land, if
said building is constructed
on a big undivided plot of
land.

Item (1) is to be made with the land owner by the owner of the building.

Item (2) is to be made with the builder, who constructs the building for its owner.

Item (3), if not done, it has to be done with the documents of items (1) and (2), from the City Survey Office.

After you do all the three items, with the copy of these documents, you will apply for Property Card with the City Survey Office, who will give you the document, after about three months.

Whole process, if all are (the land owner and the builder) co-operative, then you can get Property Card within one year, considering the time required to do all the documents and the processing of the property card to form, all taken together.

If building belongs to a private party, and owner of the land and the builder are not co-operating with the owner of the building, then he has to move civil court to redress his grievances.

If the building belongs to a Co-operative Housing Society, and both (Land owner and the builder)are not co-operating, then you have relief through "Deemed Conveyance" method, only in Maharaashtra State.
At other states, you may have to take up the matter with Consumer Forum or civil Court, for this work.

For any difficulties in this respect, kindly contact Legal Resource Centre of Moneylife Foundation on its Email ID:
moneylife.in/lrc.html

Shirish Sadanand Shanbhag

2 years ago

Registering the vacant or occupied land with the City Survey Office is not that easy work.
Most of the land owners, without making their land Non-Agricultural, have constructed the buildings on them, since up to early seventies, Town Planners' rule to allow construction on open land was not much strict.

If occupied land owner wants to register its name in Property Card, (it is a valuable document, which gives the ownership of the land and the building on it, to its owner, who may be a Society or a private owner.)has to give following documents to the said office:

(1) A Registered Sale Deed of
the land on which Building
is constructed.

(2) A Registered Sale Deed of
the Building on this land.

(3) A documentary proof for the
division of the land, if
said building is constructed
on a big undivided plot of
land.

Item (1) is to be made with the land owner by the owner of the building.

Item (2) is to be made with the builder, who constructs the building for its owner.

Item (3), if not done, it has to be done with the documents of items (1) and (2), from the City Survey Office.

After you do all the three items, with the copy of these documents, you will apply for Property Card with the City Survey Office, who will give you the document, after about three months.

Whole process, if all are (the land owner and the builder) co-operative, then you can get Property Card within one year, considering the time required to do all the documents and the processing of the property card to form, all taken together.

If building belongs to a private party, and owner of the land and the builder are not co-operating with the owner of the building, then he has to move civil court to redress his grievances.

If the building belongs to a Co-operative Housing Society, and both (Land owner and the builder)are not co-operating, then you have relief through "Deemed Conveyance" method, only in Maharaashtra State.
At other states, you may have to take up the matter with Consumer Forum or civil Court, for this work.

For any difficulties in this respect, kindly contact Legal Resource Centre of Moneylife Foundation on its Email ID:
moneylife.in/lrc.html

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