Current news & Rumours in the mkt
- Thread starter praveen taneja
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SHOWCAUSE NOTICE: JAIRAM ORDERS WORK TO STOP
THE Union environment ministry has issued a showcause notice to Lavasa Corporation, which is constructing a 25,000-acre hill township near Pune, alleging myriad violation of environmental laws. The company, promoted by a clutch of investors led by Hindustan Construction Co (HCC), will have to stop construction work immediately.
Isiliye kal HCC ki Jai Mata Di ho gai
THE Union environment ministry has issued a showcause notice to Lavasa Corporation, which is constructing a 25,000-acre hill township near Pune, alleging myriad violation of environmental laws. The company, promoted by a clutch of investors led by Hindustan Construction Co (HCC), will have to stop construction work immediately.
Isiliye kal HCC ki Jai Mata Di ho gai
Bribes-for-loans scam: Govt asks officials to shun blacklisted ‘middlemen’
NEW DELHI: Government officials have been warned to shun all contact with 22 middlemen who figure in a blacklist prepared by the Central Bureau of Investigation (CBI), and some of those on the list are being investigated for possible links to the loans-for-bribes scam. The CBI, which compiled the list of the so-called ‘undesirable contact men,’ shared it with cabinet secretary KM Chandrasekhar last month, who in turn has instructed all ministries and departments to stay clear of the personae non gratae, an official aware of the development said.
The latest blacklist — the CBI prepares one every year — comes in the backdrop of a series of scandals which have hurt the credibility of the government and brought into focus the role of middlemen and lobbyists in the affairs. Corporate lobbyist Niira Radia, whose name is not on the blacklist, is being investigated in connection with the 2G spectrum scam and middlemen are alleged to have played a part in the loans-for-bribes scam.
The investigating agency, in a report prepared along with the blacklist, said that the middlemen are suspected of using irregular and corrupt practices while dealing with government officials in all ministries, especially finance, defence, commerce and even some public sector undertakings.
“There are 17 people on the list who have been dealing with various departments of the finance ministry. The relative of an official who was earlier posted in the finance ministry is also under scanner,” the official said.
Two of them are suspected to be in touch with Rajesh Sharma of Money Matters , the chairman and managing director of the financial services company, accused of bribing officials to arrange corporate loans. Rajesh Sharma, two other employees of Money Matters, the chief executive of LIC Housing Finance and four executives of public sector banks and LIC have been arrested by the CBI in connection with the scam.
Among those figuring in the list is Suresh Nanda, an arms dealer who is being investigated by the CBI over the Rs 1,100-crore Barak missile deal with an Israeli company, and Jatinder Pal Singh, a Delhi-based middleman arrested along with Ketan Desai, the erstwhile president of the Medical Council of India. None of those whose names figure in the blacklist could be immediately reached for comment.
NEW DELHI: Government officials have been warned to shun all contact with 22 middlemen who figure in a blacklist prepared by the Central Bureau of Investigation (CBI), and some of those on the list are being investigated for possible links to the loans-for-bribes scam. The CBI, which compiled the list of the so-called ‘undesirable contact men,’ shared it with cabinet secretary KM Chandrasekhar last month, who in turn has instructed all ministries and departments to stay clear of the personae non gratae, an official aware of the development said.
The latest blacklist — the CBI prepares one every year — comes in the backdrop of a series of scandals which have hurt the credibility of the government and brought into focus the role of middlemen and lobbyists in the affairs. Corporate lobbyist Niira Radia, whose name is not on the blacklist, is being investigated in connection with the 2G spectrum scam and middlemen are alleged to have played a part in the loans-for-bribes scam.
The investigating agency, in a report prepared along with the blacklist, said that the middlemen are suspected of using irregular and corrupt practices while dealing with government officials in all ministries, especially finance, defence, commerce and even some public sector undertakings.
“There are 17 people on the list who have been dealing with various departments of the finance ministry. The relative of an official who was earlier posted in the finance ministry is also under scanner,” the official said.
Two of them are suspected to be in touch with Rajesh Sharma of Money Matters , the chairman and managing director of the financial services company, accused of bribing officials to arrange corporate loans. Rajesh Sharma, two other employees of Money Matters, the chief executive of LIC Housing Finance and four executives of public sector banks and LIC have been arrested by the CBI in connection with the scam.
Among those figuring in the list is Suresh Nanda, an arms dealer who is being investigated by the CBI over the Rs 1,100-crore Barak missile deal with an Israeli company, and Jatinder Pal Singh, a Delhi-based middleman arrested along with Ketan Desai, the erstwhile president of the Medical Council of India. None of those whose names figure in the blacklist could be immediately reached for comment.
Heard on street : Vimal Rathod next ........ on SEBI radar sources says that at any point SEBI going to take harsh action against Vimal and associates Be careful with ur investments in karutari , sujana tower , hanung , valecha , vas infra , shiva fertilizer , Neha international . This is mkt rumour confirm frm u r side
There is a proposal that has come for consideration to the government which suggests to reduce the toll rates of heavy vehicles, reports NDTV Profit. Though the proposal is yet to come under consideration, the impact is already there on IRB Infra which gets around 60 % of the revenue from that category of vehicles. The stock is currently trading at Rs 209.20, down 6.6% on the BSE.
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