Tasting success with the relaunch of Sensex derivatives in the onshore market, BSE is preparing for the 'offshore' debut of its 30-share index, which has become synonymous with the domestic markets. Sources in the know said that the India International Exchange (India INX), a subsidiary of BSE, received approval in July from the International Financial Services Centres Authority (IFSCA) to launch Sensex 30 derivatives contracts.
The CBI had sought to set aside a special judge's March 5 order that directed the agency to allow inspection of documents kept in the 'malkhana' (room where case properties are kept) by the accused or their counsel.
A Delhi court Wednesday issued summons to former Union minister P Chidambaram and his son Karti in the INX Media money-laundering case on taking cognisance of the charge sheet filed by the Enforcement Directorate (ED) against them.
The probe agency made the submission in an affidavit filed before Justice A K Pathak, who listed the matter for hearing on August 1 and extended till then the interim protection against arrest granted to Chidambaram on May 31.
The court directed Tihar authorities to provide Chidambaram with medicines, western toilet, security and separate cell.
This is the first time that the 73-year-old former finance and home minister is being grilled by the ED in this case.
The HC asked him to furnish a bail bond of Rs two lakh and a surety of like amount.
Justice A K Pathak had asked Chidambaram to join questioning and cooperate in the investigation as and when called by the CBI.
The CBI had registered an FIR in the case on May 15, 2017 alleging irregularities in the FIPB clearance granted to the media group for receiving overseas funds to the tune of Rs 305 crore in 2007 during Chidambaram's tenure as finance minister.
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
About 11 entities may be charged in the first charge sheet in the case, the sources said without elaborating on the issue.
Chidambaram had on Wednesday rushed to a trial court for protection from arrest in Aircel-Maxis case before approaching the Delhi high court in connection with the INX Media case, in which he has been asked by probe agencies to join investigations.
The court had also directed Chidambaram to cooperate with the investigation in both the cases as and when required.
Solicitor General Tushar Mehta, representing CBI and ED, contended that the Congress leader was evasive during interrogation and was giving long answers.
Karti was arrested on February 28 by the Central Bureau of Investigation on his return from the United Kingdom, and his 12-day judicial custody was to expire on Saturday in the case.
He was produced before the court after the Supreme Court refused to entertain his plea challenging the Delhi high court order which had dismissed his anticipatory bail plea in the corruption case lodged by the CBI arising out of the INX Media scam.
Senior Congress leader P Chidambaram's son Karti's name has also cropped up in the case
The court directed Chidambaram to cooperate with the ED's investigation.
The Delhi high court on Tuesday stayed the proceedings before the trial court in the CBI's INX Media corruption case involving Congress leader P Chidambaram and his son Karti.
The letter rogatory, a judicial request for information from an Indian court to a court abroad, was sent recently to the United Kingdom, Singapore, Mauritius, Bermuda and Switzerland, they said.
Indrani Mukerjea was the founder and chief executive officer while Peter Mukerjea was chairman and chief strategy officer. They set up INX Media three years ago after Mukerjea resigned as Star India CEO. According to a press release issued by the company, they will continue to be shareholders in the broadcasting company.
FIR says that the officials by virtue of influence exercised over them by Karti, not only ignored the serious illegality on the part of INX Media on both the counts but also deliberately showed undue favours to INX Group.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
After coming out of CBI headquarters in New Delhi, Chidambaram said he had appeared before the CBI and the first information report did not contain any allegations against him.
Indrani Mukerjea is the founder and the newly-appointed CEO of INX Media. She also heads INX News. The youngest woman to head a media group in the world, Indrani Mukerjea spoke to Sayantani Kar on INX's bouquet of channels that will be launched in the next one-and-a-half years.
The court extended the judicial custody of Chidambaram after the Central Bureua of Investigation sought extension of the veteran Congress leader's judicial remand.
Chidambaram, 74, was arrested by the Central Bureau of Investigation on August 21 and is lodged in Tihar jail under judicial custody in the corruption case.
If the deal goes through, it will be Lachlan's first investment through which he will take on his father Rupert Murdoch directly in the broadcasting space.
Chidambaram, who was accompanied by police personnel in the police bus, was put in a special cell in the Asia's biggest prison complex as per the orders of the CBI court.
INX Media, the company set up by Indrani Mukherjea, wife of ex-Star Group CEO Peter Mukherjea, has roped in three top advertisers -- Vodafone, Reliance Industries and Future Group -- for their Hindi entertainment channel 9X. Each of these advertisers are believed to be paying Rs 35-40 crore (Rs 350-400 million) for a three-year contract. The television broadcaster has formed Club INX, which will include corporates keen to advertise on the channel.
Foreign funds are picking up just under half of the equity in INX Media
D B Corp, the owner of the Hindi daily Dainik Bhaskar, is in advanced discussions with broadcaster INX Media to acquire a stake in the company that operates the entertainment channels as well as a majority stake in its English language news channel NewsX. Both companies are promoted by Indrani and Peter Mukerjea, the former Star India CEO.
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
The Punjab chief minister said he was asked by Kejriwal to visit different places for campaigning for INDIA bloc candidates.
The apex court imposed certain conditions on Karti and directed him to furnish an undertaking in three days that he would abide by the conditions and timeline of his visit.
A Delhi court has allowed Congress MP Karti Chidambaram, accused in Aircel-Maxis and INX Media scam cases, to travel to Spain and the United Kingdom from June 25 to July 17.
The Delhi high court on Thursday discharged S Gurumurthy, editor of a Chennai-based Tamil news magazine, in a 2018 contempt case for his tweet against a judge after accepting his apology and "deep remorse".
Gurumurthy's counsel said the journalist has already tendered his apology in relation to a tweet and there is no necessity for him to file another affidavit conveying an unconditional apology in clear terms.
'This move rendered the chiefs of important investigative agencies to the status of daily wage earners. It undermined the autonomy and independence of the agencies.'
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