Monday, February 24, 2014

Italian_marines, Court_rulings& World_Gold_council

Dear all,
Welcome.
Court ruling:
1. Upon orders of Allahabad High Court, CBI had registered FIR on MNREGA scam in UP. The CDO, Project Director & BDO who had been at Mahoba, Kushinagar, Balrampur, Gonda, Sonabhadra, Kabirnagar & Mirzapur during the period between 2007 to 2010 had been chargesheeted.
After 21 days, CBI had filed FIR. Investigation for Mirzapur region would be looked by CBI Spl. Branch, Kabirnagar by ACB, Dehradun & remaining regions by ACB, Lucknow.
2. Tata/SIA: Supreme Court had denied to put stay on S.Swamy's petition seeking denial of permit to Tata Sons & SIA airlines. Delhi High Court had been directed to give verdict on his PIL without any bias.
The JV has Malaysian Airlines & Telestra tradeplus stakes too. AirAsia had announced to provide cheapest air travel in India. The Supreme Court Bench had stated that Delhi High Court's upcoming decision would be in effect. It is to note that earlier, Delhi High Court had rejected his two interim petitions on Feb.11. S.Swamy had demanded stay on Tata SIA deal. The main PIL would be heard on March 5. The petition seeks govt. policy definition upon FDI. Any new or proposed airline could not have such FDI is incorrect. It is not a matter of judicial review. The JV had got approval from Foreign Investment Promotion Board (FIPB). It is waiting for operational permit from DGCA. DGCA had sent questionairre to various operating airlines regarding permit to AirAsia. They had stated that there is no place for any new airline.

Italian marines:
Suppression of Unlawful Act on vessels Platforms & floating surfaces on Continental Shelf: Italian marines, who had been charged of allegedly killing two Indian fishermen folks on Indian territorial waters, would not be taken up for trail under Anti-Pirates law. Indian Law & Foreign minister had developed consensus on their Court trial not be done upon the stated Acts under which there is provision of death penalty. Law ministry was consulted in this regard, which had sent its consensus on the said acts. It is to note that Attorney General had been asked of it for which he had taken a week's time during the hearing conducted on Feb.18.
Italian govt. had demanded rejection of matter by filing a petition before the Supreme Court. During past hearing, Central govt. had submitted that the stated acts had been taken of. Despite it, Italian govt. had continued to protest against those acts as they are meant for terrorists.

Election Commission: EC would be implementing stricter system for prevention of illegal money usage during upcoming general elections. It believes that such money ruins equal opportunity. People take undue advantage of it but a particular class has to share the burden.
Every State has got Nodal Officers who would cooperate along with Election Commission. EC had conducted meeting with all Nodal Officers. Also, EC had directly communicated along with ED, Drug Control Bureau, Income Tax & Revenue dept. for keeping control on such illegal money. Besides, Airports, helipads are also under vigil for money transfer. As per present rule, a candidate could take a maximum amount of 50,000 INR.

World Gold Council: The import of Gold might have been reduced due to restrictions imposed but it is learnt that it had increased by 4% approx. through illegal means like smuggling. As per World Gold Council's report, the gold demand had increased by 13% during the year 2013. Through out the world, it had reduced by 15%.
WGC India Head had issued a report stating that during the year 2012, 864 tonnes of gold was imported. It had reached 975 tonnes by 2013. The gold is being consumed in domestic market. Through out the world, it was 4,415.8 tonnes during the year 2012 which had become 3,756 tonnes of gold during the year 2013.
It is understood that domestic consumers had purchased gold during first six monthly this year.
The ornaments demand had increased from 552 tonnes to 612.7 tonnes. It is learnt that during past year, around 30 tonnes of gold was smuggled. WGC had estimated gold demand to be 1,000 tonnes during this year.
China had become world's biggest importer of gold with demand of 1,056.8 tonnes. It is estimated to be 1,100 tonnes during this year.

With regards,

M.K.Pachraiya

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