VC Shukla, the face of press censorship during emergency, dies

VC Shukla, a close associate of late Sanjay Gandhi, not only cut power supply to printing presses but also used to monitor almost each and every story printed during his stint as I&B minister during the Emergency

Veteran Congress leader Vidya Charan (VC) Shukla on Tuesday died of the injuries he had suffered in a Maoist attack in Chhattisgarh on 25th May. Shukla, who held several portfolios in the Union cabinet, was better known as the man who imposed press censorship during the Emergency (1975-77) with zeal.

 

Shukla sustained severe bullet injuries when nexalites attacked a Congress rally in Chhattisgarh. He was airlifted from Raipur and admitted in the Gurgaon hospital a day after the attack that eliminated almost all the top leaders from Chhattisgarh Congress.

Maoists had ambushed a convoy of Congress leaders in Chhattisgarh’s Bastar district on 25th May, killing 27 people including PCC chief Nand Kumar Patel, his son Dinesh, senior Congress leader Mahendra Karma and ex-MLA Uday Mudaliyar and injuring Shukla and 36 others.

 

As minister for information and broadcasting, Shukla not only cut power supply to printing presses but also used to monitor almost each and every story printed. During Emergency, he even reportedly, banned famous singer Kishore Kumar from All India Radio (AIR) and Doordarshan, for refusing to sing at a Congress rally in Mumbai.

 

Shukla belonged to a powerful family of politicians. His father Pt Ravishankar Shukla was a lawyer, freedom fighter and also first chief minister of reorganised Madhya Pradesh. Shyama Charan, the brother of VC Shukla was chief minister of Madhya Pradesh for three times.

 

VC, himself held several portfolios in the Union cabinet including communications, home, defence, finance, planning, information & broadcasting, civil supplies, external affairs, parliamentary affairs and water resources.

 

He won nine consecutive elections since his first election in 1957 from Mahasamund constituency as the youngest member of Parliament (MP) at that time.

 

When Indira Gandhi became prime minister in 1966, she chose him as a minister in her Cabinet. Shukla was also very close to Sanjay Gandhi. It was said, that following poor coverage of Indira Gandhi's rally at Boat Club on 20 June 1975, Sanjay Gandhi removed Inder Kumar Gujral and appointed Shukla as minister of I&B.

 

Shukla, due to his closeness with Sanjay Gandhi, took on the press and went on to become famous (or infamous) due to his zeal to gag media.

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AP High Court nod for Mahindra Satyam-Tech Mahindra merger

 The scheme of amalgamation has already been cleared by various institutions such as Competition Commission of India, Bombay Stock Exchange, National Stock Exchange and the Bombay High Court

The Andhra Pradesh High Court on Tuesday gave its approval for the merger of Mahindra Satyam with Tech Mahindra.

 

Justice NRL Nageswara Rao, while dismissing other petitions seeking stalling the merger, said the investigation into the alleged fraud committed by Satyam computer’s former chairman B. Ramalinga Raju and others would continue.

 

The scheme of amalgamation has already been cleared by various institutions such as Competition Commission of India, Bombay Stock Exchange, National Stock Exchange and the Bombay High Court.

 

Last year, Tech Mahindra and Mahindra Satyam announced their intention to merge aiming to create a $2.4 billion entity.

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NSE to move 17 stocks to T category from 14th June

The NSE said it would shift 17 stocks to the trade-to-trade segment or “T group”, while the exchange would transfer another 95 stocks back to the rolling segment from the restricted trading category

National Stock Exchange (NSE) has identified 17 scrips for shifting to the restricted trading category from 14th June as a measure to ensure market safety.

 

In a circular, the NSE said it would shift 17 stocks to the trade-to-trade segment or “T group”, while the exchange would transfer another 95 stocks back to the rolling segment from the restricted trading category.

 

The changes would be effective from 14th June.

 

Among the stocks which would be moved to the ‘T’ group are—Sun Pharma Advanced Research Company, ANG Industries, Morarjee Textiles, Orient Abrasives, Salora International and HB Stockholdings.

 

Additionally, 95 stocks including A2Z Maintenance & Engineering Services, Gemini Communication, Indiabulls Wholesale Services, Khaitan Electricals, K S Oils, Triveni Engineering & Industries would be shifted back from the T category to rolling segment.

 

Moreover, 39 scrips including Kavveri Telecom Products, Mudra Lifestyle, Zenith Birla (India), Usha Martin Education & Solutions and Today’s Writing Instruments would continue to be available for trading in “T group“.

 

Under the “trade-to-trade” segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.

 

In case of the rolling settlements, trades done on each single day are settled separately from the trades done on earlier or subsequent trading days.

 

According to the bourse, the changes are part of the preventive surveillance measure taken by bourse to ensure the market safety and to safeguard the interest of investors.

 

The exchange has advised the trading members to take “adequate precaution” while trading in these scrips as the “settlement will be done on trade-to-trade basis and no netting off positions will be allowed”.

 

However, the NSE said that the transfer of security for trading and settlement on a trade-to-trade basis is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company.

 

Further, this is a temporary measure and will be periodically reviewed depending on the market conditions, it added.

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