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SC seeks CBI’s response in disproportionate assets case against Mulayam, Akhilesh

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mulayam AkhileshThe Supreme Court on Monday issued notice to the Central Bureau of Investigation (CBI) on a plea seeking a direction to the agency to provide a status report in a case of disproportionate assets against Samajwadi Party founder Mulayam Singh Yadav and his son Akhilesh Yadav.

A division bench presided by Chief Justice Ranjan Gogoi and also comprising Justice Deepak Gupta, directed CBI to file a reply within two weeks.

It was hearing a plea filed by advocate Vishwanath Chaturvedi.

Chaturvedi’s petition has sought a direction to CBI to place before the top court or jurisdictional magistrate the status report of the investigation carried out in connection with the case.

The petition has said that the agency has “utterly failed” to intimate either the apex court or report to the jurisdictional magistrate in respect of the probe done and its status.

Mulayam Singh Yadav had allegedly amassed disproportionate assets worth over Rs 100 crore during his tenure as the Chief Minister of Uttar Pradesh between 1999 and 2005.

CBI has taken a long time to complete the preliminary enquiry in the matter which has been probed since 2007, the plea filed in February has said.

“In the judgment delivered by this court on December 13, 2012 in review petitions, this court had left it completely to CBI how the enquiry is to be proceeded with. This court has gone so far as to hold that CBI is an independent agency and is not bound to share the reports with the Union of India. Almost six years have lapsed since the review order and 11 long years have lapsed since the writ order…,” it has contended.

In 2005, Chaturvedi had filed a plea in the apex court seeking a CBI probe against Mulayam Singh Yadav, his sons Akhilesh and Prateek Yadav and daughter-in-law Dimple Yadav under the Prevention of Corruption Act for allegedly acquiring assets more than their known sources of income by misusing their power of authority.

UP minister calls Priyanka ‘Siberian bird’, terms her Ayodhya visit as ‘picnic

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BJP leader Mohsin RazaQuestioning Priyanka Gandhi Vadra’s intention of visiting Ayodhya, Uttar Pradesh Cabinet Minister and BJP leader Mohsin Raza on Monday equated the Congress general secretary as a “migratory Siberian bird”, and dubbed her campaign for the impending Lok Sabha polls a “picnic”.

“Those who are questioning the existence of Lord Ram, what are they going to find in Ayodhya? They (Congress) did not go to Kumbh Mela in Prayagraj. There was a ‘deepotsav’ event in Ayodhya. That was also not attended by them. They are going (to Ayodhya) as they have remembered Babur (Mughal ruler). They want to search for his remains there. So, Priyanka is a Siberian bird, who migrates from one place to another after seeing the weather conditions,” Raza told agencies.

Priyanka is scheduled to start her three-day long campaign from March 27 and will offer prayers at the famous Hanuman Garhi temple in Ayodhya, a source told agencies.

The Congress leader will board a bus customised in the form of a ‘rath’ and would cover Faizabad, Sultanpur, Amethi and Unnao parliamentary constituencies during the three-day long political campaign on roads.

During her campaign between March 27 and March 29, Priyanka is expected to stop at 32 points from Faizabad to Amethi, sources said. However, Congress has not made any official announcement of the programme.

Taking a jibe at Priyanka’s Ganga Yatra which culminated last week, Raza said: “Their boat and train yatras are nothing but just a picnic. There is nothing beyond this”.

In her first major political campaign since taking up the post of Congress general secretary in the state, Priyanka had undertaken a 140-kilometre boat journey from Prayagraj to Varanasi.

Ever since she started her political campaigns in the state, Priyanka has already visited two significant temple towns of Uttar Pradesh namely – Varanasi and Prayagraj.

Continuing his tirade against the Opposition, the BJP leader claimed that when Prime Minister Narendra Modi paid a visit to Amethi earlier this month, all the ‘chors’ (thieves) went into hiding as they were afraid of the ‘chowkidar’ (watchman).

“When Modi ji came to Amethi, all the thieves went into hiding. They also tried to escape. But, this ‘chowkidar’ is so strong that wherever they go into hiding, they will be caught. They will not be given a chance to do ‘chori’ (robbery),” Raza further said.

Terming the BJP government as a ‘majboot’ (strong) government, Raza expressed confidence that the party will retain power and will better its tally.

“Everyone in this country is now agreeing that the BJP is a ‘majboot’ government. We will perform even better than in 2014 and win again. Development has reached every nook and corner of the country and Modi ji will come to power again,” he said.

In 2014 Lok Sabha elections, the BJP-led NDA secured a majority by winning 282 seats out of the 543 seats.

This year’s Lok Sabha elections are scheduled to be held in seven phases from April 11 to May 19. Uttar Pradesh will vote in all the phases on April 11, 18, 23, 29 and May 6, 12 and 19. The counting of votes will take place on May 23.

There are 80 Lok Sabha seats at stake in the state.

Jagan is KCR’s slave, says Chandrababu Naidu

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chandrababu naiduAndhra Pradesh Chief Minister N Chandrababu Naidu on Monday fired a fresh salvo at YSR Congress Party chief Jaganmohan Reddy, accusing him of being a slave to Telangana Chief Minister K Chandrashekar Rao (KCR) as he is afraid of him.

“Jagan is afraid of KCR and his son KTR (KT Rama Rao) and he is acting as a slave to them. Jagan knows only how to loot and does not know how to earn. Jagan is building graveyards for the people of Andhra just to save himself,” Naidu said in a teleconference with TDP leaders and booth conveners here.

Attacking KCR, Naidu said: “KCR has pulled down our hard earned properties in Telangana. Now, they are conspiring to pull down the properties we are building in ‘Navya Andhra’. We have to save our own properties with self-respect.”

He accused the KCR of attempting to install an inefficient government in the state.

“If YSRCP is voted to power, welfare pensions will be stopped. Farmers will not get any water. If YSRCP wins even a single seat, it will benefit KCR,” Naidu alleged.

The TDP supremo said that if his party was voted to power again in the ensuing Lok Sabha polls, welfare pensions would be hiked to Rs 3,000 per month.

“The age limit for pensions will be reduced to 60 years. We will build houses under 300 square feet area at free of cost,” Naidu further said.

Simultaneous polls to the 175 Assembly seats and the 25 Lok Sabha seats in Andhra Pradesh, which will see a single-phase election, will be held on April 11. Counting of votes will take place on May 23.

Weak exports, rural distress, uncertainty over election outcome to drag IIP: Report

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India’s industrial production is expected to stay muted in the near term, owing to weak exports, rural distress, credit constraints and uncertainty over the election outcome, a report said on Monday.

According to Dun and Bradstreet’s (D&B) latest Economy Forecast, the Index of Industrial Production (IIP) is likely to have grown by 3-3.2 per cent during February 2019.

As per the IIP data in January released by the Central Statistics Office (CSO), the growth in industrial production declined to 1.7 per cent as against 7.5 per cent a year ago, owing to the subdued performance of the manufacturing sector, especially capital and consumer goods.

“Given the headwinds in the global economy and domestic structural bottlenecks, the concerns to growth remain heightened,” said Arun Singh, lead economist, Dun & Bradstreet India.

Singh further noted that in the short term, the risks remain accentuated as the concerns on the global front are growing while, domestically, the uncertainty on the outcome of the election will tend to keep the investment activity subdued.

On the prices front, the report said, a reversal in food prices that have remained unusually low are likely to push up inflation. Moreover, the election-related spending and expected lower kharif crop output would exert additional inflationary pressures.

D&B expects the CPI inflation to be in the range of 2.6-2.8 per cent and the Wholesale Price Index-based inflation to be in the range of 3-3.2 per cent during March, respectively.

According to Singh, some of the key risk factors for the Indian economy are stressed assets in the banking sector, decline in tax mobilisation through GST, ailing rural economy and concerns in key sectors such as telecom, power and real estate.

He also said, “We hope that the recent efforts to strengthen the balance sheets of the banking sector and corporates turn the wheels of the domestic investment activity. Further, the business and consumer confidence could get an impetus once the uncertainty over the election outcome gets over.

NTPC Bongaigaon plant’s 3rd unit to begin commercial operation from Monday midnight

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bongaigaonState-owned power giant NTPC on March 25 said unit-3 of Bongaigaon thermal power project with 250 MW capacity will begin commercial operation from midnight, which will increase the plant’s generation capacity to 750 MW.

The two units of 250 MW each of Bongaigaon project in Assam have already been made operational in June 2016 and March 2017. The total capacity of the project is 750 MW (250MWX3).

“Unit 3 of 250 MW of Bongaigaon Thermal Power Project (3 X 250 MW) will be declared on the commercial operation from 00:00 Hrs of March 26, 2019,” a company statement said.

According to the statement, with this, the commercial capacity of Bongaigaon Thermal Power Project, NTPC and NTPC Group will become 750 MW, 45,065 MW, and 52,206 MW, respectively.

Bongaigaon power plant is the first project of NTPC in the Northeast. Former Prime Minister Manmohan Singh  had laid the foundation stone for this project in January 2006.

Lupin gets USFDA nod for generic version of Viagra tablets

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lupinDrug firm Lupin on March 25 said it has received approval from the US health regulator to market Sildenafil tablets, used in the treatment of erectile dysfunction, in the American market.

The company has received the approval from the US Food and Drug Administration (USFDA) to market its product which is a generic version of Pfizer Inc’s Viagra tablets, Lupin Ltd said in a regulatory filing.

The Mumbai-based company has received approval for its product in various strengths, it added.

Sildenafil tablets are a phosphodiesterase-5 (PDE5) inhibitor indicated for the treatment of erectile dysfunction (ED).

According to IQVIA MAT December 2018 data, Sildenafil tablets USP, 25 mg, 50 mg, and 100 mg had annual sales of around $611 million in the US market.

 

Liquidity position to get Rs 35K cr further boost via rupee-dollar swap: Subhash Chandra Garg

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subhash chandra gargThe finance ministry and the Reserve Bank of India (RBI) on March 25 said the liquidity situation of the economy is comfortable and it will be boosted further by Rs 35,000 crore through the rupee-dollar swap window. Liquidity situation is comfortable now, Department of Economic Affairs Secretary Subhash Chandra Garg told reporters.

Asked about the new tool of rupee-dollar swap arrangement by the RBI to infuse liquidity, Garg said it is a “sound move (by the RBI)”.According to a senior official of the RBI, the liquidity position in the system is comfortable and the central bank is constantly monitoring the situation in the system.

“At the moment, I don’t think there is any issue with regard to liquidity in the market. If some people are not getting financing then it is probably because of their balance sheet problem,” the official said.

The rupee-dollar swap auction announced by the RBI, earlier in March, will infuse Rs 35,000 crore in domestic liquidity on March 26, the official said.

The auction of $5 billion for a tenure of three years will be conducted on March 26.

Alto best selling PV model in February; Maruti makes clean sweep of top six spots

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maruti suzuki alto 800Maruti Suzuki India’s entry level small car Alto was the best selling passenger vehicle (PV) model in February, clocking 24,751 units as the company swept the top six spots.

According to the latest data by Society of Indian Automobile Manufacturers (SIAM), Alto had sold 19,941 units in February last year.

Alto overtook MSI’s compact sedan Dzire which was the best selling model in the same month last year.

This year Dzire slipped to the fourth position selling 15,915 units as against 20,941 units in February last year.

The second best selling model last month was MSI’s hatchback Swift with 18,224 units, up from third spot last year when it sold 17,291 units.

MSI’s premium hatchback Baleno was in the third place with 17,944 units, up from the fourth in the year-ago month when it sold 15,807 units.

The new WagonR from MSI sold 15,661 units to be in the fifth position, the same as the previous generation WagonR which clocked 14,029 units in February 2018.

In the sixth position was compact SUV Vitara Brezza from MSI selling 11,613 units, improving one position from last February when it sold 11,620 units.

Hyundai Motor India Ltd’s (HMIL) premium hatchback Elite i20 was the seventh best selling model last month with 11,547 units, down a position from the year-ago month when it sold 13,378 units.

HMIL’s popular SUV Creta was the eighth best selling PV model in February with 10,206 units, improving its position by a notch from February 2018 when it sold 9,278 units.

The company’s compact car Grandi10 was in the ninth position with 9,065 units, a spot down from the year-ago month when it sold 10,198 units.

Tata Motors’ hatchback Tiago made it to the top ten best selling passenger vehicles list with 8,286 units, replacing Mahindra & Mahindra’s utility vehicle Bolero which sold 8,001 units in February 2018, according to the data.

Anil, Sonam share throwback pictures on Sunita Kapoor’s birthday

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anilkapoorAs Sunita Kapoor turns a year older today, her husband Anil Kapoor and daughter Sonam Kapoor wished her in the sweetest way possible.

Anil dug out a truly-adorable throwback picture of himself and Sunita from when they were much younger and penned a heartfelt birthday message for her.

“This is what being young & in love looks like! Everyday of my life is made better because of her…Happy Birthday @kapoor.sunita! You are the reason for everything! Isn’t she just flawless? I am so lucky! Love you,” he wrote alongside the picture.

Sonam also shared a priceless photo from the family archives, which features younger versions of the Kapoor siblings- Rhea, Sonam, and Harshvardhan with their beloved mother.

“There are no words for how much you mean to me. You have always been the ultimate role model, supporting me and helping me stand taller against whatever I may face in my life. It’s your strength and grace that keeps this family so happy and we all love you for it. Happy Birthday Mom! #mom #mother #momsarethebest #sunitakapoor,” Sonam captioned the lovely picture.

Sonam also shared a string of pictures on her Instagram story on her mother’s special day.

The Kapoor family rang in Sunita’s birthday with early celebrations at a dinner party last night. In a video posted on Rhea’s Instagram story from last night, Anil said: “May she lives 100 years,” to which Sunita hilariously responded: “What am I going to do for 100 years!”

Many of Sunita’s friends like Ekta Kapoor, Farah Khan, among many more wished her on social media.

The siblings adore their mother and recently spoke about her in an episode of ‘Koffee With Karan’.

In the episode, the sibling trio talked about how their mother is the one, who “runs the show” at the Kapoor household and that Harshvardhan is her favourite child.

On the work front, Anil Kapoor has begun shooting for Mohit Suri’s ‘Malang’ co-starring Aditya Roy Kapur, Disha Patani and Kunal Kemmu. Sonam, on the other hand, will be next seen in ‘The Zoya Factor’ alongside Dulquer Salmaan and Sanjay Kapoor.

Avan Motors launches electric scooter Trend E, price starts at Rs 56,900

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Avan Motors launches electric scooterElectric scooter maker Avan Motors India last week launched its new model Trend E priced at Rs 56,900 and Rs 81,269 (ex-showroom).

The Trend E with single-battery is tagged at Rs 56,900 while the double-battery version is priced at Rs 81,269, the company said in a statement.

Bookings have been opened from Friday at a fee of Rs 1,100, it added.

The new model is powered by a lithium-ion battery with a top speed of 45 kmph and has a range of 60 km with single battery and 110 km with double battery, it said, adding the battery can be fully charged in 2 to 4 hours.

Avan Motors Business Development Head Pankaj Tiwari said the company has worked extensively to create the Trend E scooter as a vehicle that is suitable for Indian roads.

“We are delighted with the response the scooter has received in its pre-launch phase and are confident that customers too will appreciate the Trend E and all its features,” he added.

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