SC admits Gujarat Government's plea challenging Lokayukta appointment

Gujarat government challenged the state High Court order upholding the appointment of Justice RA Mehta as the Lokayukta on the ground that it was unconstitutional and done without its consent

New Delhi: The Supreme Court on Friday admitted an appeal filed by the Gujarat Government challenging the state governor's decision to "unilaterally" appoint Justice (Retd) RA Mehta as the Lokayukta, reports PTI.

A bench of justices BS Chauhan and JS Khehar said it would examine the matter at length as vital question of constitutional law is involved.

The bench said it will hear the matter at a stretch of three days from 20th February.

The Gujarat government has challenged the state High Court order upholding the appointment of Justice Mehta as the Lokayukta on the ground that it was unconstitutional and done without its consent.

The Gujarat High Court had on January 18 upheld the appointment of Justice Mehta as the Lokayukta while sharply criticising Chief Minister Narendra Modi for his "pranks" that had sparked a "constitutional mini crisis".

In the petition filed on January 19, the state government sought stay of the High Court judgement and also of the August 25, 2011, order of Governor Kamla Beniwal by which the warrant of appointment of Justice Mehta as Lokayukta was passed.

User

Import duty cut to hinder industry growth says Tata Motors

The Tata group company feels that the short-term policy shift of cutting imports dutu on cars from Europe will hinder growth of domestic automobile industry and investment in the country

New Delhi: Coming out against the proposal to cut imports duty on cars from Europe as envisaged under India-EU FTA, Tata Motors on Friday said such short-term policy shift will hinder growth of domestic automobile industry and investment in the country, reports PTI.

The company said India, with its open liberal policy, has been able to attract many global players that has resulted in helping growth of the industry and any such change in policy will create a un-level playing field.

"It will hinder the growth of the industry. It will also create a un-level playing filed and any short term policy shift is not advisable," Tata Motors' managing director (India Operations) PM Telang told PTI here.

Under the proposed free-trade agreement (FTA) officially dubbed as Bilateral Investment and Trade Agreement (BTIA), EU wants India to slash import duties on passenger cars.

India is seeking greater market access in services sector among other things. The talks for the comprehensive pact was started in June 2007.

Coming out against any specific reason being given the preference, he said if at all the import duty would reduce it should be for all the regions.

The company and the industry should work out a timeline together to bring down the import duty on cars, he said.

He also sounded cautioned that while taking such steps the government should be careful that investment in the country do not come down, Telang cited the example of Australia, where after the liberalisation policy on cars, the assembly operations in the country had gone down drastically.

When asked about benefits to Jaguar Land Rover (JLR), if at all import duty from Europe on car would be reduced, he said it is premature to be specific.

"We had been following the government policy. We have started assembling of JLR models in India. In future also, we will follow government policy." Mr Telang said.

User

Disney buys Screwvala, Unilazer and Unilazer stake in UTV

Ronnie Screwvala also ceased to be the managing director of the UTV Software Communications but will continue to be a whole-time director of the company

New Delhi: Media and entertainment firm UTV Software Communications on Friday said Rohinton Screwvala, Unilazer Exports and Management Consultants Ltd and Unilazer Hong Kong Ltd (Unilazer HK) have sold all their shares in the company to the Walt Disney Company (South East Asia) Pte Ltd (TWDC SEA) for an undisclosed amount, reports PTI.

The shareholders' agreement between Rohinton Screwvala, Unilazer , Unilazer HK and TWDC SEA has been terminated with effect from February 2, 2012, UTV Software Communications said in a filing to BSE.

The firm yesterday said it has fixed the exit price for shareholders at Rs1,100 per share as part of its complete acquisition by US-based Walt Disney Company.

"The acquirer (The Walt Disney Company Southeast Asia Pte Limited) has accepted the discovered price of Rs1,100 per share and shall acquire all shares tendered through valid bids at or below the exit price," the earlier filing had said.

In July last year, UTV Software had announced that Walt Disney Co has offered to buy out stakes held by public shareholders and other promoters of the company in a deal valued around Rs 2,000 crore.

Subsequently, in December, 2011, the Cabinet Committee on Economic Affairs (CCEA) approved the deal.

As of 31 December 2011, the promoter and promoter group shareholding in UTV stood at 70.04%, including 50.28% owned by Walt Disney Company (South East Asia) Pte Ltd.

Rohinton Screwvala has also ceased to be the Manging Director of the company, but will continue to be a whole-time director of the company, UTV said.

UTV operates in five verticals— broadcasting, games, motion pictures, digital content and television content.

Shares of UTV Software Communications Ltd were being quoted at Rs 1,063 apiece in afternoon trade on the BSE today, down 0.38% from their previous close.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)