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Supreme Court receives anonymous threat letter, bars entry of law interns

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Supreme Court

New Delhi: The Delhi Police has beefed up the security at the Supreme Court after receiving an anonymous email which threatened to blow it up.

The Supreme Court has barred the entry of law interns to the court rooms for security reasons, according to media reports.

Earlier, Justice Dipak Misra, one among the judges who rejected Yakub Memon’s mercy plea, had also received a threat letter.

The Home Ministry has been informed about the anonymous email and intelligence agencies are on high alert.

Confirming the reports, a senior police officer told Hindustan Times that they have received such an email , but there are chances that it could be a prank.

Details are awaited.

(Agencies)

ITRAF – Think tank for International Tax Research Launched

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ITRAF

Bangalore: International Tax Research and Analysis Foundation (ITRAF), led by Eminent Economists, Leaders from industry, and Experienced Tax Professionals was launched today to carry out research and analysis in international taxation to ensure superior tax policy and effective tax administration in India. ITRAF will act as a key enabler for Indian economy to attain its full potential globally as Indian business increases its share of global trade and commerce. ITRAF will conduct extensive research on the present international tax regulations, benchmark them with global standards, practices and experiences and make appropriate recommendations to policy makers.

ITRAF stands for 4 Is – Independent Thoughts, Insights based on Research, Impact and International orientation. ITRAF will provide a neutral forum for public debate on its research reports and impact–analysis to recommend technically sound and field–tested tax policies. ITRAF will also engage and socialize with all stakeholders for effective implementation.

ITRAF’s Chairperson is Dr. Parthasarathi Shome, the former Chairman of the Tax Administration Reforms Commission. The other founder members include Mohandas Pai, Chairman, Manipal Global Education; Suresh Senapaty, former Chief Financial Officer and Member of the Board, Wipro Limited; V Balakrishnan, former Chief Financial Officer and Member of the Board, Infosys Limited, Mukesh Butani, Managing Partner, BMR Legal; K. R. Girish, Senior Partner, Leap Ridge Advisors LLP; Padamchand Khincha, Partner, M/s H. C. Khincha & Co, Chartered Accountants; S. Krishnan, Former Head of International Taxation, Infosys Limited; Indraneel Roy Chaudhury, Partner, Tax & Regulatory Services; PricewaterhouseCoopers, K. R. Sekar, Partner, Deloitte Haskins & Sells; and P.V. Srinivasan, Former Head of Taxation, Wipro Limited.

It is the firm belief of the founding team that India has the potential to be the most attractive destination for investments globally. For this to happen, India needs effective policy inputs based on research to develop a best–in–class tax system focused on certainty and stability for global investments to flow in and for Indian business to grow globally. This needs extensive economic research on the impact of international taxation on our economy and to participate in global forums on the architecture of international tax systems, as for instance with the OECD. ITRAF is set up with a strong view that an apolitical think tank, free from any corporate or sectoral bias can play a critical role in supplementing the Government’s effort in a very progressive framework based on fundamental research and analysis in the backdrop of increased globalization and changing business models due to technology disruption.

This forum is a conglomeration of the best of talent – both in Governance and Research and will leverage the extensive repository of research and global best practices available, to come out with an in–depth analysis and recommendations to the Central and various State Governments.

Dr. Parthasarathi Shome, Chairman, ITRAF and Head of Research Committee said – “As India embarks on its exciting phase of growth, ease of doing business is going to be a huge differentiator to attract investments. Uncertainty in tax environment is a potential deterrent for global companies planning to invest in India. Good tax policies are backed by research & analysis and are equitable to all stakeholders. ITRAF is an independent Think Tank focused exclusively on tax policy analysis and support through extensive research and seeks to enhance the framing of tax regulations and administration.”

Suresh Senapaty, Board Member and Head of Finance Committee, ITRAF said – “Globalization is resulting in labour mobility, capital fungibility and seamless boundaries. Global competition for capital and location of economic activities is getting intense. A progressive and consistent tax environment in line with global standards is essential for the success of key Government initiatives like Make in India, Innovation India, Digital India and Skill India. ITRAF will engage with a broad range of international organizations to provide appropriate insights to policy makers on key taxation issues across the globe. ITRAF stands for 4 Is – Independent Thoughts, Insights based on Research, Impact and International orientation. ITRAF welcomes support and contributions for advancing a unique cause that would serve national interest.”

Mohandas Pai, Board Member, ITRAF said – “Technology is changing the manner of conducting business and is disrupting established business norms across the globe. We are seeing a proliferation of start–ups in India with global linkages. ‘Start–up India, Stand–up India’ is the new thrust to push growth and employment. The Government is seeking to leverage technology as part of the Digital India initiative to improve governance standards. However, tax laws have not kept pace with the rise of digital economy and emerging business models. ITRAF aims to carry out in–depth analysis to provide inputs to policy makers to keep pace with the changing technology landscape having global ramifications.”

ITRAF will periodically conduct seminars and conferences to discuss and disseminate the various research findings. It will also provide structured training courses to students and professionals on international taxation.

ITRAF is a company registered under Sec 8 of the Companies Act, 2013. ITRAF will not act as a representative for any industry group to reduce tax rates, seek tax incentives or exemptions. ITRAF will provide an opportunity for corporates and professional firms to support this initiative by deputing their employees to provide research support, for various periods of time.

Congress slams Modi for targeting previous govts on foreign soil

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modi-uae

New Delhi: Congress today hit out at Prime Minister Narendra Modi for his barb on foreign soil that he inherited “lethargy” from previous governments, saying he should have desisted from raking up domestic politics abroad.

“Prime Minister should have maintained dignity of the high office he holds. There is no problem if he targets previous governments when he is in the country. But he should have refrained from doing so on foreign soil”, party spokesman Meem Afzal said.

Afzal said that it was not proper for Modi to rake up domestic politics abroad despite repeated uproar by the opposition for his earlier such actions.

The Prime Minister, who is the UAE, said, “I have got some problems in legacy. I cannot take only the good points and leave aside the problems… Some things were stalled due to the indecisiveness and lethargy of the governments (in the last)… It is my priority to kickstart those things”.

Noting that the Prime Minister had visited the historic Sheikh Zayed Grand mosque, the world’s third largest, during the visit, Afzal said it would be good if he visited a mosque in India too.

Another Congress spokesman Sanjay Jha tweeted, “It is abominable that PM Modi continues his pathetic lowbrow jibes at opposition party when abroad. A huge embarrassment”

The Prime Minister, on a visit to attract investments from the UAE, told the business community there that all leading institutions like IMF, World Bank and Moody’s agree that India is the world’s fastest growing economy.

Afzal reminded the PM that the vast growth in the trade turnover with UAE from 160 million dollars to 60 billion dollars was mainly due to the efforts by the earlier governments, including those of the UPA.

“India receives 10 billion dollars remittances annually from 26 lakh NRIs in the UAE which invests 15 billion dollars in the Gulf country”, he said.

(PTI)

PM Modi offers $1 trillion investment opportunity to UAE

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Modi

Masdar: Inviting investors from UAE, Prime Minister Narendra Modi today said India has an immediate investment opportunity of USD 1 trillion and the government will take urgent steps to address concerns of the businessmen from this country and erase “deficit of 34 years”.

Modi also said his government has got some problems in legacy and his immediate priority would be to kickstart the things which were stalled by the “indecisiveness and lethargy” of the past governments.

“I have got some problems in legacy. I can not take only the good points and leave aside the problems… Some things were stalled due to the indecisiveness and lethargy of the governments (in the last)… It is my priority to kickstart those things,” Modi said while addressing the business leaders from the UAE here at the Masdar City.

Modi, who is the first Indian Prime Minister to visit UAE in the last 34 years, said India has huge investment opportunities for investors from the UAE in sectors like infrastructure, energy and real estate and urged them to come to invest in India and together make the 21st century ‘Asia’s Century’.

The Prime Minister said all major global institutions such as IMF, World Bank and Moody’s agree that India is the world’s fastest growing economy and it has huge development potential.

“On one hand India is growing fast and on the other hand, the world is looking at Asia. But is Asia complete without UAE? I can clearly see that the UAE should be at the centre of mainstream of things in Asia. UAE’s power and India’s potential can make it Asia’s century,” he said.

Modi said he has been told about some problems being faced by investors from the UAE and he wants to assure them that the government is solving those problems.

“I will send my Commerce Minister to try and find solutions to the problems faced by some UAE investors,” he said.

The investors told the Prime Minister that they need steps like single window clearance and cited cumbersome and complex processes for doing business in India. To this, Modi assured that these problems will be resolved.

In their meeting with the Prime Minister, the businessmen also said that the government needs to be a strategic partner to create a conducive business environment for the investors who need safety of their investments.

The issue assumes significance as a number of investors, including some from the Middle-East region, have in the past faced problems due to taxation and policy related issues.

Modi said he needs investments to build infrastructure for India’s growth and “there is immediate potential for investments totalling USD 1 trillion in India.”

Stating that he is well aware of the fact that USD 1 trillion is a big number, Modi said such investments can very well come to India as it has now got a decisive and stable government.

Talking about no Indian Prime Minister having visited the UAE in the last 34 years, Modi said, “We have lost 34 years. I want to erase the deficit of these 34 years. I want all of you to come to India and make 21st Century Asia’s century.”

Modi said there are 700 flights between India and UAE, but but it took 34 years for an Indian Prime Minister to visit. “I promise this will not happen again,” he said.

Those present in the meeting included members of Abu Dhabi Chamber of Commerce and Industry, top government officials and Indian origin industrialists including Yusuff Ali, B R Shetty, Ravi Pillai and PNC Menon who have set up businesses here.

Listing out investment areas, Modi said, “We want technology, speed and quality construction when it comes to housing. Low-cost housing is very important for us.

“It is now commonly believed that India is one of the fastest growing economies. There are several opportunities of development in India.

“I feel India is a land of many opportunities… 125 crore people of India are not a market but they are a source of great strength.”

“In the agriculture sector we need cold storage network and warehousing network where UAE businesses have another advantage. Infrastructure development and real estate offer tremendous opportunities for UAE businesses in India.

UAE’s power and India’s potential can make the dream of an Asian Century a reality.” Addressing the roundtable meeting of business leaders at this planned city project in Abu Dhabi, which relies on solar energy and other renewable energy sources, Modi said several sectors including insurance, railways, defence manufacturing have been opened up for foreign investment in India.

Heads of companies like Etisalat, Etihad Airways, Emirates, DP World, Commercial Bank of Dubai and Emaar Group were also present during the meeting.

Modi also talked about renewable energy, port-led development and low-cost housing as sectors with huge investment potential.

Earlier, the Prime Minister was accompanied on an hour-long visit of Masdar City, by senior City officials, who briefed him on various aspects of the project.

Modi also travelled briefly on the PRT (Personnel Rapid Transit) car – a driver-less vehicle which runs from point to point on magnetic strips.

He also visited the Micro-Nano Fabrication Facility and the Microscopy Lab. The Prime Minister also took a brief walking tour of the city’s public spaces and was briefed on the sustainable building methodology and key architectural elements.

Throughout the hour-long tour of Masdar City, Modi was greeted by residents and professionals in the city, which include a large number of members from the Indian community. “Vigyan Jeevan Hai” he wrote, as he signed on a Digital Visitor’s Book at Masdar City.

(Agencies)

Enhanced ex-gratia for 1984 victims from Monday: Arvind Kejriwal

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Arvind Kejriwal

New Delhi: Delhi Chief Minister Arvind Kejriwal said on Saturday that the enhanced ex-gratia amount of Rs.5 lakh to the kin of the 1984 anti-Sikh riot victims will be distributed from Monday.

Delivering his first Independence Day speech as chief minister, the Aam Aadmi Party leader also praised Home Minister Rajnath Singh for making efforts to secure the enhanced compensation and said he would request the minister to give away the first cheque. “The first cheque will be distributed on Monday,” Kejriwal said.

“I appreciate Rajnath Singh’s efforts behind the enhanced compensation. I will try to have the first cheque given away by Rajnath Singh,” he said. As per official records, 3,325 people were killed in riots that broke out across the country after two Sikh bodyguards shot dead then prime minister Indira Gandhi on October 31, triggering mob attacks on innocent Sikhs. Of them, 2,733 were killed in Delhi, which was the worst hit in the mayhem. Killings also took place in Haryana, Uttar Pradesh, Maharashtra, Bihar, Jharkhand, Madhya Pradesh and Rajasthan among other states.

In 2006, the UPA government announced a Rs.717 crore rehabilitation package for the riot victims. Of this, only Rs.517 crore was disbursed and the remaining Rs.200 crore got bogged down because of disputes over claimants. An additional relief of Rs.5 lakh was announced by Rajnath Singh in October last year.

(IANS)

Karnataka: File report on farmer deaths, HC tells State Government

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karnataka high court

Bengaluru: State government has been asked to file an affidavit in two weeks listing out the measures taken to prevent farmers from committing suicide by High Court on Friday.

The directive came from a division bench of acting Chief Justice Subhro Kamal Mukherjee and Justice B V Nagarathna which was hearing the PIL filed by the Karnataka State Legal Services Authority over non-implementation of programmes launched for farmers such as Suvarna bhoomi.

Advocate Poonam Patil, representing KSLSA, drew the attention of the bench to the issues of farmers. Advocate General Ravivarma Kumar sought two weeks’ time to file the affidavit. Kumar told the court that the state is facing severe drought. He also said that the farmers are further stressed due to falling prices of sugar — it has dropped from Rs 30 to Rs 20 per kg — and non-payment of dues by sugar mills.

(Agencies)

Patriotic fervour, freedom spirit mark Independence Day in Karnataka

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Siddaramiah

Bengaluru: Patriotic fervour and the spirit of freedom and nationalism marked the 69th Independence Day celebrations in Karnataka on Saturday.

Chief Minister Siddaramiah unfurled the tri-colour and sang the national anthem along with about 10,000 people who gathered at the Field Marshal Manekshaw Parade Ground in the city centre for the grand occasion.

Earlier, a military helicopter hovered over the sprawling ground showering red rose petals around the podium, exciting the gathering and evoking applause.

Standing on an open jeep, the chief minister drove around for guard of honour and received salute from contingents of the three services (army, navy and air force), state police, home guards and fire forces at the podium.

After Siddaramaiah addressed the gathering in Kannada, battalions of the three services, state reserve police, home guards, NCC and Bharat Scouts and Guides, contingents of about 3,000 boys and girls from city school sand music bands treated the audience with a two-hour long impressive march past and historical and cultural shows, with patriotic songs renting the air.

Martial arts and daring feats and acrobatics on motorcycles by the military as well as the state police teams kept the crowds spellbound.

Later, the chief minister presented medals and awards to police officers and distributed prizes to the participating organisations. Reports from across the state said the national flag was hoisted in the respective districts by state cabinet ministers and deputy commissioners.

In Mangaluru, about 350 km away from here, about 500 students held a 350-metre long national flag in a long line that spilled into the main street from their school playground.

(Agencies)

 

Poison of communal frenzy have no place in India: Modi

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Modi

New Delhi: In a marathon address to the nation from the ramparts of Red Fort, PM today underlined India’s unity and diversity and said the poison of casteism and communal frenzy have no place in the country.

Modi, in his second Independence Day address, focussed largely on the issue of corruption and asserted that the steps taken by his government over the last 15 months to deal with the “termite” had started yielding results.

Responding to opposition criticism that nothing is happening on the problem of black money, he said “some people love to spread pessimism” as he informed that about Rs 6500 cr of undeclared money has been disclosed during the compliance window provided by the government.

He spoke about a number of initiatives to end corruption and bring transparency and proposed doing away with the practice interviews for small jobs, contending that this becomes a route for corruption.

During the 85-minute address, he talked about the much-anticipated ‘One-Rank, One-Pension’, saying the government has “in-principle accepted” it and he was hopeful of a positive outcome of the ongoing discussions which are in the “last stage”.

He mentioned the announcements made during his first Independence Day address last year and said many of them had been implemented in a time-bound manner.

The government programmes are focussed on welfare of the poor and other under privileged sections while ensuring reduction in inflation and efforts to boost growth to double digit, he said.

While talking about efforts for development, Modi made a strong pitch for communal harmony and peace. “The world keeps signing praise about India’s diversity and greatness. Like diversity, the country also has simplicity and unity, which are our capital.

These have been nurtured over the centuries. This capital has to be preserved,” he said.

“Be it the poison of casteism or the frenzy of communalism, these have no place in the country and should not be allowed to grow. These ills have to be eradicated through the nectar of development,” he said.

Modi said if the unity of India is destroyed, then the “dreams” of the people will also be shattered as the country looking forward to development and progress.

Talking about the issue of corruption which he described as “termite”, the Prime Minister vowed to free the country from this evil “braving all kinds of attacks” on him as he asserted that there is not an allegation of even Re one corruption against his 15-month-old government.

“There is a lot of talk in our country about corruption. It is like a sick person giving suggestions to others on how to remain healthy, there are people who are themselves corrupt, who give suggestions on how to deal with corruption,” he said.

“Giving suggestions to each other is also an art. I want to give an account today…We have not shown our commitment to fight corruption by addressing press conferences. We are working on the ground. We have shown results,” he said.

He said the “termite” had spread but nobody took any action against it over the last 60 years. “There is a requirement of applying injection per square metre for a long time to deal with this termite,” Modi said.

Responding to criticism, he said, “some people love to spread pessimism. It is like an addiction. They cannot get sleep without it. For them, there is no meaning for programmes and initiatives. They keep on saying that nothing is happening, nothing is visible.”

Though he did not name anybody, his remarks assume significance as Rahul Gandhi had only last week in Parliament questioned what had been done on dealing with black money.

Mentioning the new Act made on black money, he said people have been complaining that it is “too tough” a law. “We have received messages that the law is too tough and it should be diluted,” he said, without naming anybody.

Likening it to treating a serious ailment which requires administering strong medicines, he said, “there can be side-effects but the ailment has to be cured.”

He said through the new law, while efforts are being made to bring back black money already stashed abroad, it has at least ensured that nobody dares to take tainted money out of the country.

He said through the compliance window provided by the government, around Rs 6500 crore of undeclared money has already been disclosed. “Is it not fighting corruption?”

(Agencies)

Wholesale inflation falls to historic low of (-) 4.05%

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REUTERS/Vivek Prakash/Files

REUTERS/Vivek Prakash/Files

New Delhi: Deflationary trends continued for the ninth month in a row in July with wholesale inflation plunging to a historic low of (-)4.05 per cent on cheaper vegetable and fuel, which may prompt RBI to cut interest rate ahead of the September 29 policy meet.

The WPI number follows retail inflation (CPI) data, which had slipped to a record low of 3.78 per cent in July. The overall wholesale price index-based (WPI) inflation was (-)2.40 per cent in June, government data showed today. It has been in the negative zone since November 2014. A year ago in July 2014, inflation was 5.41 per cent.

During the month, pulses, milk, edible oil, egg, meat and fish turned dearer. RBI Governor Raghuram Rajan after the monetary policy announcement on August 4 had said the central bank may cut interest rate even out of the policy cycle depending on how macroeconomic indicators play out.

“We are waiting for information. There was more need to move fast in the early stages of the turnaround. We will take all information into account and decide whether at times it warrants moving in between policy cycle or it does not,” he had said after the policy meet.

RBI mostly tracks the consumer price inflation for its policy decision, and its next review is due on September 29.

(PTI)

I will not go back from Bengaluru: Asaduddin Owaisi

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Asaduddin Owaisi

Bengaluru: Ahead of the BBMP polls scheduled to be held on Saturday, Aug 22, AIMIM supremo Asaduddin Owaisi hit out at the state Congress government for ‘deliberately’ trying to impose restrictions on his entry to Bengaluru city and impeaching his constitutional rights to free movement.

Owaisi said that as a member of parliament, he has constitutional rights to enter any place in the country, and Congress has no rights to stop him entering the city.

He said he and his party are here to stay, and will not go back from Bengaluru. He announced his party’s intention to participate in the next assembly elections in the state.

Earlier on Tuesday Justice A.S. Bopanna had issued the direction while rejecting AIMIM’s plea for a direction to the authorities to grant permission for its public rally that was scheduled for August 11 at Chota Maidan in Shivajinagar.

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