Companies & Sectors
Supreme Court halts mining in Goa

Taking note of the Shah Commission report, the apex court also restrained mining companies in Goa from exporting and selling ores which has already been extracted

 
New Delhi: Mining operations in all the 90 mines in Goa were on Friday ordered to be halted by the Supreme Court on the basis of the Justice MB Shah Commission report which estimated a whopping Rs35,000 crore to the exchequer due to illegal mining in the last 12 years, reports PTI.
 
Mining companies have also been restrained from exporting and selling ores which has already been extracted.
 
A three judge bench headed by Justice Aftab Alam took note of the Commission's report and issued notice to the Centre and State government.
 
The bench also asked the apex court-appointed Central Empowered Committee to submit its report on the illegal mining in the state within four weeks.
 
The bench passed the order on a PIL filed by an NGO, Goa Foundation, seeking probe in the illegal mining activities in the state.
 
The state government had on September 10 temporarily suspended all mining operations till October 2012, but the petitioner alleged that suspension did not affect the trade as the private companies are transporting the ores from mines.
 
The court is already seized of the illegal mining cases in Karnataka where, after halting all mining activities for more than year, it had on 3rd September allowed operations in only 18 mines out of more than 100 mines where the irregularities were minimum.
 

User

Sachin Tendulkar to re-assess his future next month

Tendulkar said taking a decision on retirement after playing the game for close to 23 years will be a "hard one" and he will go by what his heart says

 
New Delhi: Masterblaster Sachin Tendulkar has for the first time admitted that at 39 he may not have much cricket left in him and will reassess his cricketing future next month, reports PTI.
 
Tendulkar's retirement has been a topic of debate for quite some time now and the batting great said though he does not have any immediate plans, the thought of retirement has been on his mind.
 
He said that taking a decision on retirement after playing the game for close to 23 years will be a "hard one" and he will go by what his heart says.
 
"The moment of retirement is going to be hard because I haven't experienced anything close to what I might go through when I retire. It depends on what my heart tells me then. I need not take a call right now. When I play in November, I will reassess things," he said.
 
"I am 39 and I don't think I have plenty of cricket left in me. But it depends on my frame of mind and my physical ability to deliver. When I feel that I am not delivering what is needed, and then I will re-look at the scheme of things. I am already 39 and no one expects me to go on playing forever," Tendulkar told 'Times NOW'.
 
India play a four-match home Test series against England starting on November 15 in Ahmedabad.
 
Tendulkar, who holds almost all the records in world cricket after playing 190 Tests and 463 ODIs, said that it would be a tough call for him to hang his bat and he will go by what his heart says.
 
"I don't know. It is going to be hard because I haven't experienced anything close to what I might go through when I retire. I cannot relate this moment with any other moment in my life. It will be a tough call. I will go with what my heart says," said Tendulkar, who has scored 15,533 in Tests and 18,426 runs in ODIs.
 
Tendulkar, however, refused to give a specific time frame for his retirement.
 
"Nobody decides in this manner. I do not know what is in store. I wish I knew. If I did know, I wouldn't have had to wait for 22 years to lift the World Cup. Perhaps, I would have done it in the first instance in Australia in 91-92 then.
 
"I am looking at it series by series. As long as I feel that I can deliver, I will continue playing. It also depends on what the team feels and whether I am motivated enough to continue being on top of the game."
 
Asked if his retirement would be from all forms of the game, he said, "It again depends on what my heart tells me then. I need not take a call right now."
 
Sunil Gavaskar had suggested that age has caught up with Tendulkar after he was bowled thrice in the recent home Test series against New Zealand, but he conceded that it was natural for others to raise such questions.
 
"Sunil Gavaskar has also said positive things about me. When there have been a lot of positive feedback as well, why keep harping only on the negative comments?" he asked
 
"Ultimately, if I am out, I am out. I can't get stuck on one article about me and try to create something that the person is hoping to create out of it. I need to stay focused on the game and constantly keep finding ways to improve myself," he said.
 
"There are two different things -- scoring runs and what I feel. For instance, if this three-wicket ordeal had happened when I was 25, no one would have questioned it. Incidentally, it happened when I am 39, so questions were raised. This is natural," he added.
 
Asked about another former captain Mohammed Azharuddin's comments that his reflexes have slowed down with age, Tendulkar said, "When I met Sir Don Bradman in 1998-99 on his 90th birthday, he told me that it is natural for a batsman to change after he is 30. I have played quite well for nine years after I turned 30. It is natural for any person to slow down as he grows older."
 
Tendulkar said he stays away from opinion of others about him to avoid getting affected.
 
"I have always stayed away from what people say about me, right from my younger days. My brother always told me that I need to keep away from all this to stay focused on the game.
 
Irrespective of criticisms or praises that come your way, it is important to stay focused and keep improving your game."
 

User

Supreme Court seeks law officers’ assistance on plea against FDI

During an hour-long hearing, the SC bench said opening the retail sector to FDI is a policy matter and 'policy is exclusively in the domain of the government of the day'

 
New Delhi: The Supreme Court on Friday sought the assistance of top law officers, that of the Attorney General or the Solicitor General, in hearing a petition against the opening of the multi brand retail sector to foreign direct investment (FDI), reports PTI.
 
Without issuing notice to the Centre, a bench of justices RM Lodha and AR Dave asked the petitioner to serve the copy of the petition to Attorney General (AG) GE Vahanvati or Solicitor General (SG) Rohinton Nariman saying it needs some necessary clarification on the issue.
 
The bench, which posted the matter for hearing on 12th October, directed the petitioner to delete the name of the Prime Minister as a party in the petition.
 
While seeking the assistance of top law officers, the bench said, "We just want to have little clarity on the issue" as some link is missing.
 
During an hour-long hearing, the bench said opening the retail sector to FDI is a policy matter and "policy is exclusively in the domain of the government of the day. Some may say it is good and some may say it is bad but nothing is ultra vires." 
 
"These are matters dealt with exclusively by ministries," the bench further observed.
 
The court was hearing a public interest litigation (PIL) petition filed by advocate ML Sharma who has alleged that the notification was issued without the authority of law as approval of neither the President nor the Parliament was secured.
 
The bench, however, observed that "this assumption that the policy has to be in the name of the President is flawed and unfounded." 
 
While seeking the assistance of law officers, the bench told the petitioner that "there may be some provisions which you are unable to show." 
 
"Do one thing, for little clarification serve this writ petition to the Attorney General or the Solicitor General," the bench said.
 
During the hearing, the bench also wanted to know from Sharma whether subsequent to the government's circular on the issue of FDI in retail, any follow up circular was issued by the Reserve Bank of India (RBI) as there is some missing link in the petition.
 
The advocate said the RBI has not issued any regulation after 2008.
 
After hearing his submissions, the bench said it was concerned whether the circular issued by the government on the FDI in retail sector will have legal sanction.
 
The advocate contended that the recent FDI policy decision was not in consonance with the RBI regulations under the Foreign Exchange Management Act (FEMA).
 
When the advocate submitted that the opening of FDI in retail sector will affect the livelihood of 35 crore families as they were self-employed in kirana, food, vegetables and other small businesses and more than 20 crores people were trading on footpaths, the bench asked him to refrain from making these submissions.
 
"Do not bring all these submissions. The government perspective is different from your perspective. They feel differently and think that it will give more livelihood. Your concept may not be correct. We are on the legality and constitutionality of the policy," the bench said.
 

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)