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Showing posts with label corporate news. Show all posts
Showing posts with label corporate news. Show all posts

Not possible to cut petro-products price: Pranab

Sunday, November 13, 2011



Finance Minister Pranab Mukherjee on Saturday said the two most vexed issues facing the nation are price rise in essential commodities and petro-products.It is not possible for the Centre to decrease the price of petro-products because huge subsidies are already being given to the oil companies for sale of fuel at controlled rates, Mr. Mukherjee told a Congress seminar here.
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Kingfisher Apologises to flyers

Saturday, November 12, 2011


Due to rough whether, Kingfisher Airlines has recently sent an apology mail to its frequent flyer club members to explain the reason of cancellation of numerous flights.They said that the move was necessary to reconfigure their aircrafts for better service feedback.
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Pranab Mukherjee To World Bank - "think out of the box"

Sunday, September 25, 2011



Indian Finance Minister Mr.Pranab Mukherjee on Saturday said that the World Bank should have to find some ways to improve its capital base so as to enhance lending to developing countries.
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Corporates under Lokpal : CVC

Sunday, September 18, 2011



As the Lokpal debate rages, the CVC feels corporates should be brought under the purview of the proposed anti-corruption bill to check graft effectively.
It also favours that corruption in higher levels of bureaucracy and among political executives should be dealt with by the Lokpal provided there is a proper demarcation of work to avoid overlapping of powers with the CVC.
“Lokpal should cover corruption in higher bureaucracy and among political executives. There may also be a provision, as in UK bribery law, where a bribe giver is punished. We are also not against bringing corporates under the purview of Lokpal,” Central Vigilance Commissioner Pradeep Kumar told PTI in an interview.
At present CVC has no power to check corruption in private firms. However, the Commission refers cases of criminal conspiracy and corruption by government officials and private persons to the CBI.
“Lokpal may investigate cases of corruption involving political executives (ministers). In case they are found involved in wrong doings then action against them should be taken as per the law,” he said.
Mr. Kumar, who took over the reins of country’s top anti-graft body in July this year, cautioned that there should not be complexity in exercising powers by Lokpal to avoid delay in checking corruption.
“All civil servants are governed by departmental punishment rules. The CVC, in some cases, may impose penalty directly while it has to seek sanction for prosecution against senior officials. The Lokpal may look into these aspects (and simplify the process),” he said.
The CVC’s view may be conveyed to the Parliamentary Committee on Personnel, Public Grievances, Law and Justice for Lokpal when the Commission appears before it.
The 31-member House panel, reconstituted a few days ago, is likely to call the CVC either on September 23 or 24 after the delay in its constitution resulted in cancelling the Commission’s presentation twice — on September 7 and 15.
Mr. Kumar wanted extension of the vigilance mechanism in graft cases through speedy enquiries and prosecution procedures.
“The standard of proof (evidence) is lower in the Prevention of Corruption Act, which is time consuming. There is preponderance of probability. That is why there are a bulk of cases going on in courts. Cases under the PC Act are pending for over 10-15 years,” the CVC said.
The Commission covers corruption involving central government officials working in banks, public sector units and other undertakings of the Government of India.


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Kanimozi steps towards court for bail

Saturday, September 17, 2011



DMK patriarch M Karunanidhi’s daughter and party MP Kanimozhi, arrested for her alleged role in 2G spectrum allocation scam, today moved a Delhi court for bail, her second attempt to get the relief.
Lodged in Tihar jail since May 20 following rejection of her bail plea by Special judge O P Saini, Kanimozhi approached his court for bail a day after the court breached its self-imposed deadline to frame charges in the case. The court listed her bail plea for hearing on October 1.
While refusing bail to various 2G scam accused, the Supreme Court had earlier asked them to move the trial court for bail after framing of charges in the case.
While pleading innocence, 43-year-old Kanimozhi also prayed for bail on account of her being a woman MP and the mother of a school-going child. She moved the court for bail along with Kalaignar TV CEO Sharad Kumar.
Kanimozhi approached the court pleading that neither she nor DMK-run Kalaignar TV received spectrum licence and that she was not the beneficiary of the “loan transaction of Rs 200 crore” in the 2G scam either.
“The petitioner (Kanimozhi) has no role in the alleged conspiracy in allocation of UAS licence, valuable and scarce spectrum in various telecom circles and other undue favours to Swan Telecom Pvt Ltd (accused in the case) during 2007-2008 etc,” said the bail plea filed on behalf of Kanimozhi.
“Neither she nor Kalaignar TV Pvt Ltd is a beneficiary of spectrum licence either,” said he bail plea filed by her counsel V G Pragasam and S J Aristotle.




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