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Ex-bankers sentenced to 4 years imprisonment in Mehta stock market scam

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By NewsGram News Desk

A special court on Thursday convicted MS Srinivasan of the State Bank of Saurashtra (SBS) and R Sitaraman of State Bank of India (SBI) over criminal breach of trust and misappropriation of public funds in the 1992 Harshad Mehta stock market scam after observing that the accused persons’ acts can be termed as ‘anti-national’.

The duo held the post of chief manager of Funds Management Cell (FMC) and bank officer in the securities division of State Bank of India (SBI) respectively. Charges have been out under various sections of the Indian Penal Code (IPC) for criminal breach of trust by a public servant and under the Prevention of Corruption Act for dishonestly and fraudulently misappropriating funds of SBS and SBI.

Srinivasan and Sitaraman are sentenced for four years of rigorous imprisonment and a compensation of Rs 5 crore. The court observed that the duo caused tremendous loss aggregating to several hundreds of crores to SBS and SBI unbefitting their position as public servants responsible to the public exchequer.

“In this case, the complainant, the victim, the accuser is (representing) the country at large. It is the coffers of public financial institutions that have been swept clean,” Justice Dalvi said.

“They (Srinivasan and Sitaraman) have degraded themselves by misappropriating public property for illegal and criminal ends, causing enormous monetary loss to the public exchequer. Their acts can well be termed as anti-national as such acts had caused a tremendous economic strain and drain upon the country resulting in the scam of 1992,” Justice Dalvi said, adding the accused not only corrupted themselves but corroded the country.

 

 

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Badminton Star Saina Nehwal Termed ‘Anti-National’ by some of her ‘fans’ for Endorsing Chinese Brand

The Badminton Star was targeted by some her 'fans' for endorsing a Chinese brand

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Saina Nehwal. Facebook

December 14, 2016: Saina Nehwal on Sunday took to her social networking site Facebook to share the pictures of ‘Honor 8’ phone which she is endorsing. The Badminton Star was targeted by some her ‘fans’ for endorsing a Chinese brand.

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The former World No. 1’s timeline was soon flooded with comments and she was repeatedly asked to end her association with the China Company. Some even went accuse her of being ‘anti-national’.

In the comments section, one ‘fan’ wrote, “Kindly don’t promote Chinese product…it’s dangerous for our nation.”

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Another wrote, “I am your fan, but if you say buy China product am not. I will say stop this nonsense.”

However, the people criticising Saina may be doesn’t have the idea that, as part of the Make in India program, the company that manufactures Honor, Huawei will soon be setting up a unit in Chennai.

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Well, maximum of her fans supported Saina and advised her not get bothered by the negative comments.

by NewsGram team

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Delhi Court grants Bail to Former Delhi Minister Sandeep Kumar in Rape Case

He was booked under Sections 376 (committing rape) and 328 (causing hurt with poison, with an intent to commit an offence) of the Indian Penal Code

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Sandeep Kumar, ex-minister of Aam Aadmi Party. Facebook

New Delhi, November 8, 2016: A Delhi court on Monday granted bail to former Delhi minister Sandeep Kumar, who was arrested on the charge of rape.

Special Judge Poonam Chaudhry granted bail to Kumar, who was sacked from the Aam Aadmi Party government after the case came to light.

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The former Social Welfare and Women and Child Development Minister, who was also suspended from the AAP, was arrested on September 3 on a complaint filed with the Sultanpuri police station in north Delhi by a woman who figured in a sex video with him.

He was booked under Sections 376 (committing rape) and 328 (causing hurt with poison, with an intent to commit an offence) of the Indian Penal Code.

The AAP legislator was also charged under Section 67-A (publishing or transmitting material containing sexually explicit act in electronic form) of the Information Technology Act and under the Prevention of Corruption Act.

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The woman said in her complaint that she was sexually harassed by Kumar at his office-cum-residence in the Sultanpuri area where she had gone to get her ration card made.

In his bail plea, Kumar said he was in custody for nearly two months whereas the case probe is still incomplete.

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He said his conduct since the registration of a first information report had been good and unquestionable and he had himself surrendered before the police.

The Delhi Police, while opposing the bail plea, told the court he can try to influence witnesses and the complainant if released on bail. (IANS)

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‘I will surrender to the court tomorrow’: Digvijaya Singh on MP recruitment scam

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Image source: youtube.com

New Delhi: Congress leader Digvijaya Singh, slammed with an arrest warrant issued in relation to the Madhya Pradesh recruitment scam against him by the Bharatiya Janata Party (BJP), is set to surrender to a local court today.

Singh believes there is no charge of corruption, and the arrest warrant is nothing but an agitated act by the BJP since he took up the VYAPAM scam.

In a series of tweets, the Congress leader tweeted in this regard:

The arrest warrant was issued against Singh after he failed to appear when the court summoned him for the hearing.

Singh is accused to be involved in the alleged recruitment scam at the Madhya Pradesh Assembly Secretariat in Bhopal between 1993 and 2003. He was the chief minister during that time.

Remaining assertive, Singh believes the Congress gave a loan to a “nonprofit company” National Herald which proved to be a significant reason behind the freedom movement founded by Pandit Jawaharlal Nehru. He further added that BJP shared its party funds in order to publish a newspaper with a “for profit” company, Shree Multimedia Vision Ltd (SMVL).

Dragging Mr Subramaniam Swamy into his tweet, he tweeted:

And also:

Singh hit out at the Centre, stating Vinod Tawde still continues to be the director as a minister in Maharashtra who is the chairman of the multi-media vision, a ‘for profit company’.

“He has violated the Code of Conduct for Ministers as prescribed by Ministry of Home Govt of India. Shouldn’t he resign?”

Undeterred about the event, the Congress leader said he would surrender today and the state police can arrest him if they want to:

“The Madhya Pradesh police can arrest me if they want. I will surrender to the court tomorrow. I was about to go to Delhi but I have cancelled that also and now I will go to Bhopal,” Singh said.

“This is a 22-year-old scam and it is inevitable that the state government, who is already worried about the Vyapam scam, will target me. In those appointments there was an order by the Cabinet and not alone of mine,” he added.

The Jahangirabad police in February last year filed a cased against Singh, former Speaker Sriniwas Tiwari and others for alleged forgery, conspiracy, cheating, and misuse of office as well as offences under the Prevention of Corruption Act. Accused in the case are many others, amounting to a total of 24 people at present.

The filing was the result of a complaint issued by the Assembly Secretariat after witnessing irregularities in recruitment between 1993 and 2003. ( Inputs from Agencies)