Nation
SC declines plea for verification of poll candidates' assets
New Delhi : The Supreme Court on Friday declined a PIL by the former top cop Julio Riberio and other eminent people seeking setting up of a machinery to verify the assets declared by the winning candidates and three top losing candidates in a constituency in parliamentary and state assembly polls.
 
"If we ask the Election Commission to verify the assets of the contesting candidates running into crores of rupees, it will submerge the Election Commission into doing these verifications only and (it) will not be able to do any other thing," said the bench of Chief Justice T.S.Thakur, Justice R. Banumathi and Justice Uday Umesh Lalit declining the PIL.
 
Asking Riberio and other eminent people to continue with their "crusade outside the court", Chief Justice Thakur said: "Verification is a cumbersome process, say of a candidate disclosing possessing assets worth Rs.300 crores. What purpose it will serve? How it will restore parity between rich and the common man?"
 
Asking the petitioner's counsel if they wanted the Election Commission to run after the candidates to verify the assets they have declared in the affidavits along with their nominations papers, the bench said that the apex court has acealready gone to the extent of saying that if there is a wrongful or false declaration (of assets), then that will be ground for setting aside their election.
 
Besides Ribeiro, other PIL petitioners are former CAG Vijay K. Shunglu, former IAF chief Air Chief Marshal S. Krishnaswamy (retd.), former director generals of police I.C.Dwivedi and Prakash Singh, former union secretaries S.A.T.Rizvi and Arvind Verma, former Uttar Pradesh Public Service Commission chairman S.R. Lakha, IIT-Kharagpur's former director Prof. S.K.Dubey, Prof. H.C.Pandey, former IPS officer S.N.Singh, senior journalists Syeed Masoof Ul Zaidi and Arunesh Kumar Mishra.
 
The petitioners had sought the setting up of a machinery that would have the officials from the Central Bureau of Investigation, and Customs and Central Excise and the officers from other departments to man it.
 
They had contended that if upon verification it was found that candidates winning or three others losing candidates immediately after him - are possessing assets beyond what they have declared then they should be prosecuteA and proceedings should be initiated for the removal of the winning candidate from the membership of the legislature to which he has been elected.
 
The petition had further sought the prosecution of the lawmakers under the Prevention of Corruption Act if it was found that that they possessed assets disproportionate to their known sources of income on the presumption that they had acquired them through alleged corrupt mean during their stint as public servants.
 
Addressing another plea by the petitioners, the court asked: "You want rich men be excluded from contesting election so that common man gets a chance."
 
"How a common man gets disabled from contesting election (if rich is in the fray). How a common man can is enabled if rich man is ousted from contesting election," it asked.
 
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

Ralph Rau

11 months ago

The honourable court wants to know how the poor man is excluded from contesting when his monied opponent throws money around during an election ?

Is the honourable Justice serious ?

There seems to be an error in the reporting of the courts comments.

Mallya's son Sidhartha resigns as director from UB Holdings
Bengaluru : Beleaguered liquor baron Vijay Mallya's son Sidhartha V. Mallya resigned as non-executive and non-independent director of United Breweries Holdings Ltd, the listed firm said on Friday.
 
In a regulatory filing to the BSE, the city-based holding firm said 28-year-old Sidhartha vacated the office of director with effect from March 31, under the relevant section of the Companies Act.
 
Sidhartha, who was first appointed as director in May 2005, was reappointed to the executive on rotation with the shareholders' consent at the company's 99th annual general meeting here on September 28, 2015.
 
The company, however, did not give reason for Sidhartha's sudden resignation.
 
As chairman, Mallya holds majority equity stake (52.34 percent) in the holding firm, whose flagship company is the country's largest beer maker United Breweries Ltd.
 
As a holding firm, UBHL has strategic investments in group companies, securities, overseas trade, real estate development, commercial and residential properties and licensing of trade marks.
 
Though Sidhartha also has US citizenship, he graduated in science from Queen Mary University in London.
 
The only son of Mallya, he is also a director on the board of other group firms such as Kamsco Industries, Mallya Ltd, Royal Challengers Sports Ltd, Gem Investment & Trading Company Ltd and United Mohun Bagan Football Team Ltd.
 
According to company sources, Sidhartha is currently abroad, pursing a film career in Hollywood and doing a drama course in London.
 
An ardent cricket buff like his father, Sidhartha is in India during summer when his team (RCB) plays in the IPL T20 tournament every year.
 
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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States isssue Rs.1 lakh crore Uday bonds to address discom debt
New Delhi : Eight states, including Uttar Pradesh and Bihar, have issued bonds of nearly Rs.1 lakh crore in 2015-16 under the UDAY scheme for debt restructuring of distressed state distribution companies (discoms), Power Minister Piyush Goyal said on Friday.
 
"Another target achieved: UDAY bonds worth almost Rs 1 lakh crore issued in the last financial year helping achieve 24X7 affordable power for all," he said in a tweet.
 
Goyal also welcomed Uttarakhand joining the scheme.
 
"Congratulations to the people of Uttarakhand on the Govt. of India, State and DISCOMs signing UDAY MoU to ensure power for all," he added, on the state signing the Uday MoU here on Thursday.
 
"Under UDAY, ten states have signed MoU till date. The combined discom debt that would be restructured in respect of these states is around Rs.1.96 lakh crore, which is approximately 45 percent of the total outstanding discom debt of Rs.4.3 lakh crore as on 30th September, 2015," a power ministry release said.
 
The scheme envisages taking over 75 percent of discoms' cumulative debt by March next year. States would issue loans against the debt at prevailing market rates. The balance 25 percent would be issued as sovereign backed bonds by discoms.
 
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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