Citizens' Issues
Supreme Court turns down CBI director Sinha’s plea to restrain media
CBI director Ranjit Sinha also refuted all the allegations made against him, saying all such statements are “patently false"
 
The Supreme Court on Thursday turned down the plea of Ranjit Sinha, the director of Central Bureau of Investigation (CBI) seeking to restrain media from broadcasting and publishing news stories on the basis of documents pertaining to the entry list of visitors at his residence.
 
A Bench headed by Justice HL Dattu said it had gone through the documents and asked advocate Prashant Bhushan to file an affidavit annexing the materials.
 
“We have gone through the documents. We cannot take cognisance of this until it is placed on record,” the Bench said.
 
The Bench agreed to give an urgent hearing on the issue and decided to assemble at 10am, half an hour before the normal court time, on Monday.
 
In his plea, Sinha submitted that his right to privacy and reputation was involved in the case and pleaded the court to restrain the media.
 
Senior advocate Vikas Singh, appearing for the CBI Director, raised questions on the veracity and source of the documents.
 
The CBI Director also refuted all the allegations made against him, saying all such statements are “patently false".
 
However, the court turned down the plea to restrain the media from broadcasting or publishing news stories based on the documents.
 
The advocate also raised questions on how the documents got leaked despite Supreme Court’s order that they should be placed before it in a sealed envelope.
 
Singh further pleaded that apex court should ask Bhushan about the source from which he acquired those documents.
 
The CBI Director is at the centre of a controversy after an NGO had told the Supreme Court that entry register of his residence portrays a “very disturbing” and “explosive material” coming in the way of administration of justice in 2G spectrum allocation scam. 

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HC reserves order on bail plea of Tejinder Singh in Tatra case
Besides Kapil Sibal, a battery of lawyers including Geeta Luthra, Dayan Krishnan and Pramod K Dubey appeared and sought bail for Tejinder Singh 
 
The Delhi High Court on Thursday reserved its order on the bail plea of Lt Gen (retd) Tejinder Singh. Tejinder Singh has been arrested for allegedly offering Rs14 crore bribe to the then Army chief VK Singh for clearing files pertaining to procurement of Tatra—all terrain vehicles.
 
The order has been reserved by a bench headed by Justice Pratibha Rani after hearing arguments advanced by counsel on behalf of Tejinder Singh and Central Bureau of Investigation (CBI).
 
“Who knows the practice better than this court. If an accused has not been arrested during the entire investigation and has root in the society, then he cannot be arrested after filing of charge sheet,” former law minister and senior advocate Kapil Sibal appearing for the jailed former Army officer, said.
 
Besides Sibal, a battery of lawyers including Geeta Luthra, Dayan Krishnan and Pramod K Dubey appeared for Tejinder Singh and sought bail for their client, saying he has been a man of integrity and should have been enlarged on bail by the trial court itself, where he appeared after receiving the summon on 1st September.
 
The counsel for the CBI, however, vehemently opposed the submissions of the accused saying, “the practice of granting bail on filing of charge sheet does not entitle an accused to be granted bail. The gravity of the offence alleged against the accused has to be considered.”
 
The CBI also referred to the statements of the then Army chief Singh and the then Defence Minister AK Antony to support its submission that the allegation against Tejinder Singh were grave in nature.
 
Sibal, in its rejoinder argument, opposed the submissions of the counsel and referred to various Supreme Court judgements to drive home his point that an accused, who has been out during the investigation should not be arrested on filing of the charge sheet.
 
“Moreover, evidence presented to the court are documentary in nature,” he said, adding the alleged offence took place on 22 September 2010 and it was reported after the delay of two years in 2012.

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MR Mayya, former ED of BSE, is no more
MR Mayya, best-known face of the capital markets in 1980s and also former executive director of BSE passed away on Thursday
 
MR Mayya, a well-known finance professional and former Executive Director of BSE died on Thursday. He was the best-known face of the capital markets in 1980s.
 
Mr Mayya, an MA in Economics from Madras University, was also Founder Chairman of BoB Capital Markets for 10 years till 2006. After completing MA, he entered into the Indian Economic Service in July 1958, and served about 18 years in the Forward Markets Commission (FMC) regulating commodity markets.
 
Mr Mayya joined Stock Exchange division of the Ministry of Finance regulating securities market in February 1973. He became the Head of Stock Exchange division in August 1978. He joined Bombay Stock Exchange (BSE) as an executive director in August 1983 and worked for about 10 years before retiring in August 1993.
 
Later, he became the founder chairman of Interconnected Stock Exchange of India (ISE), which was an experiment that did not quite work. He was also a part of innumerable experiments to find give a life to India’s 20-odd regional stock exchanges, whose future was in question after the National Stock Exchange (NSE) with automated, single-screen trading nationwide was set up. 
 
Mr Mayya was a part of many high-powered committees (GS Patel Committee on Capital Market Reforms) and also headed several committees and panels on market related issues. In 2003, the MR Mayya Committee on the development of liquidity in the stock market has urged the government to grant tax incentives to market makers. It was appointed by the Federation of Indian Stock Exchanges (FISE). This Committee had proposed setting up of IndoNext market segment on the lines of EuroNext. 
 
With his vast knowledge and experience, Mr Mayya was appointed as the Member of the Rating Committee of CARE for over 14 years till January 2008. He has also been director of various companies and for many years, was a prolific writer and columnist having penned over 250 articles.  
 
Many of these were compiled in a book called 'Glimpses of Indian Stock Markets'.

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COMMENTS

Itee

3 years ago

Extremely sad and depressing. May his family get the strength to cope up with the situation. This news should have been received more attention.

Acharya

3 years ago

A great human being A true Gandhian.. a perfect example of simple living and high thinking...It is sad that mainstream media ignored the demise of this Great Man who contributed immensely to the development of the capital market.As always, Moneylife stood out... S.R.Acharya

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