Andhra Pradesh Chief Minister Y S Rajasekhara Reddy on Sunday said that there was no obstacle in any law enforcing agencies, including CBI, inquiring into the Satyam fraud despite CB-CID registering a case.
Stressing a coordinated mechanism between the central agencies and departments like Securities and Exchange Board of India and the Serious Fraud Investigation Office, the Andhra Pradesh chief minister said the scope of probe underway by the state government included Satyam's connection with the Maytas firms.
Twelve of the 16 Naxalites killed in an encounter in Chhattisgarh's Gariaband district have been identified as dreaded ultras carrying a cumulative bounty of Rs 3.13 crore, including a central committee member of the outlawed movement, a police official said. Among them was Chalpathi alias Jairam, a member of the central committee and Odisha state committee of the Communist Party of India (Maoist), who had a collective bounty of Rs 90 lakh on his head in Chhattisgarh, Odisha and Andhra Pradesh. It was the first time someone from the central committee, the main governing body of the proscribed outfit, has been eliminated in an encounter in Chhattisgarh. The encounter, which lasted three days, involved personnel from E-30 (a Gariaband district police unit), Central Reserve Police Force (CRPF), its elite unit CoBRA (Commando Battalion for Resolute Action) and Odisha police's Special Operation Group (SOG).
Andhra Pradesh Chief Minister Y S Rajasekhara Reddy on Friday said the CB-CID is independently probing the financial fraud in Satyam Computer, as it appeared likely that its founder Ramalinga Raju would be arrested.
The Andhra Legislative Assembly witnessed noisy scenes and constant exchange of words between the ruling Congress and the TDP members through the 90-minute reply by the chief minister.
According to a department notification, Tech Mahindra has approached the Board of Approvals under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.
In a letter to the Prime Minister, Reddy said though the CB-CID had been in constant touch with other investigating agencies, there were issues that needed to be looked into by central government organisations such as the Income Tax department, Enforcement Directorate, Registrar of Companies, Ministry of Company Affairs, Serious Fraud Investigation Office and the Securities and Exchange Board of India.
Primarily the discussion will be on Satyam matters and also on ensuing parliament and state Assembly polls.
N Chandrababu Naidu wanted a judicial probe by a sitting judge into the affairs of Satyam Computer Services, Maytas Infra, Maytas Properties, the 14 companies promoted by Jaganmohan Reddy and also Heritage Foods owned by his (Naidu's) wife and family.
Andhra Pradesh chief minister Y S Rajasekhara Reddy said on Wednesday he was not aware of the details of the Satyam Computer financial fraud, and would take appropriate action after studying the case. Reddy was in New Delhi for a meeting with Planning Commission deputy chairman Montek Singh Ahluwalia.
The state government allotted 50 acres of land near Visakhapatnam to Satyam Computer in December 2008 at a concessional rate of Rs 10 lakh.
The Sensex is holding on to its gains on steady gains in techs, PSUs and heavyweights, and is now up 32 points
Siva Sankar looks at S P Balasubrahmanyam's fantastic repertoire.
Referring to the various infrastructure projects being executed by Maytas and its joint venture partners in the state, the chief minister said: "If we have genuine doubt about their capabilities, we will look at alternatives. If work can go without any problem, we will continue. We will only see that there is no risk to the government."
Planning Commission Deputy Chairman Montek Singh Ahluwalia had misgivings on how and why the chief minister could raise so much money by selling government land, but eventually cleared the annual plan that was promised to be funded by a 32 per cent increase in the state's tax revenues. He put on record his doubts in a 3-page communication to the prime minister on April 23, 2008, a copy of which is with rediff.com
The Andhra Pradesh government on Monday gave a version on Ramalinga Raju and Rama Raju's arrests, which contradicts what Chief Minister Y S Rajasekhara Reddy said.
The Sensex slipped into negative territory, after opening 14 points up at 7,765.
After surging above the 7,800 mark, the Sensex finally closed at 7,756.
The Sensex gained 91 points to close at an all-time high of 7,860.
The Sensex gained 41 points to hit a new high of 7,797.
The 30-share BSE Sensitive Index is down 18 points at 9377. NSE Nifty is down 6 points at 2836.
The Andhra Pradesh government has scrapped its 10-month-old agreement with Maytas Infrastructure-led consortium for the implementation of the prestigious Rs 12,230-crore (Rs 122.390 billion) Hyderabad Metro Rail Project.
The markets opened 47 points higher at 7,682.
Justice P Swaroop Reddy dismissed the three revision petitions filed against the lower court's order on police custody, saying that there was 'no need for the high court's intervention at this juncture.' The 6th additional chief metropolitan magistrate had, on January 17, ordered Raju, his brother Rama Raju and Satyam's former CFO Vadlamani Srinivas to be sent to police custody for four days till January 22.
Earlier, the Sebi had interrogated and recorded the statement of Raju and his brother and Rama Raju for three days from February 4 in Chanchalguda Jail. In a petition filed in the court of 6th Additional Chief Metropolitan Magistrate, the I-T department sought three days time to examine and record the statement of Raju.
The Sensex plunged into the red after opening with a gain of 13 points at 7,693.
Tata Consultancy Services along with Bharti Televentures and National Thermal Power Corp was on Friday adjudged among the best employers in India by leading global human resources management firm Hewitt Associates.
Siva Sankar looks at S P Balasubrahmanyam's fantastic repertoire.
The booming real estate markets in the National Capital Region, Mumbai and Bangalore registered the highest global yields in 2003, according to the latest updates by Chesterton Meghraj, a global real estate consulting group.
The markets opened firm on Tuesday and crossed the 7,800 mark after opening with a gain of 7 points at 7,774.
The Sensex opened past the 8,200-mark at 8,208 as against Wednesday's close of 8,189 and later rallied smartly to a high of 8,252.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
Being a successful investor is all about making the most prudent investment decisions, even if they are dull and boring.
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