Dear all,
Welcome.
Japan's Nuke disaster: At Fukushima nuclear plant, another tank had started leaking radioactive material, which is probably reaching Pacific Ocean. It is second such incident during past two months.
M/s Tokyo Electric Power Co.(TEPCO) had stated that around 430 litres of radioactive water had leaked. Due to increased international warning, Japanese govt. had stated that it would provide amount for better water management inside the plant. Japanese govt. spokesman had told correspondents that with new leakage, the efforts towards management of hazardous waste is not proper. However, the situation is under control. TEPCOs damaged reactor got new storage water tanks built in haste & is now dependent upon it.
It is to note that during March 2011, devastating tsunami & earthquake had damaged the plant. With new leakage, concerns are there. M/s TEPCO would be facing more criticism.
Asaram Bapu: At Jodhpur High Court, the govt. prosecutor had alleged that Asaram is a paedophile. If he is granted bail, he could again lure kids. His bail petition had been rejected by the Judge. Earlier, his cousel, Jethmalani, had filed some documents about the girl i.e. her mental condition, her age certificate, his FB account & Facebook activity.
Jet-Etihad deal: SEBI had stated clearly that amended agreement amidst Jet & Etihad airways would not render control over Jet. The deal is as per laws with 24% stake of Etihad, abu dhabi based airline. Also, the deal worth 2,058 crore INR would not require any open offer. It would not have Jet's promoter unit. The Commercial cooperation agreement (CCA) would have final control of govt. This is based upon information provided by both airlines for proposed agreement. Both air lines had announced the deal during April this year. But due to CCI & SEBI's objections, it got delayed. Also, FIPB had approved it with some conditions. The effective control would be rendered to domestic airways. Also, Acquisition rule 2011 would not be effective over the stated deal. SEBI had already told Fin.ministry in this regard.
Election contest: After the Supreme Court's order regarding rejection of candidates contesting election, it is stated that no other declaration is required for declaring a candidate found guilty or sentenced as ineligible. The seats getting vacant and filling process is only debatable. The interpretation of Supreme Court is only route
left. As per RP Act Cl.8(4) getting rejected by Supreme Court order dated July 10, the role of President and Governor also comes into play. Some lawyers cite some such instances to be arguable. The legal matters
related to constitutional issues are sometimes based upon facts. But it is not for ineligibility of candidates. Now, Congress MP, Masood, is found guilty. The matter would be read along with constitution art 101, 102, & RP Act 8. His seat(s) would get vacant for which no order is required. But filling of it would need decision by President or
Governor.
The Special part of decision talks of those matters where ineligibility is related to facts say for e.g. the person was holding profit making post. But it is not considered for sentence. If the member gets relieved through Appeal,his membership would continue. If a member is declared ineligible, despite his getting relieved his membership could not be revoked.
Asian Development Bank(ADB): ADB had reduced development rate to be 4.7%. It was stated to be 6% earlier during April. It is cut due to rupee value downfall. as per Bank's report, due to infrastructure development and reforms getting delayed, investment problems are surfacing. Besides, US Fed. Reserve had stopped incentive packages due to which Foreign cash inflow might be affected. Also, due to slacking of chinese economy, Asia's growth rate is reduced. It would be six percent, which was earlier told to be 6.6%. During the year 2014,
Asia's growth is reduced from 6.7% to 6.2%.
The report states heated economic scenario in China & price hike in India, rupee down fall etc The ADB had estimated China's growth to be 7.6% from earlier 8.2%. Bank's Ex-Chief economist had stated that rather than Chinese exports and investment centred one sided development, infrastructure related reforms had resulted in such pay off. Chinese growth rate would be affecting other countries economy too.
With regards,
M.K.Pachraiya
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