CMYK THURSDAY www.thestatesman.com 01 MARCH 2018 FIND US ONLINE Scan this with your smartphone twitter.com/TheStatesmanLtd facebook.com/thestatesman1875 Pages 20 |` 5.00|LC KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR Today, Doljatra, being a holiday in the offices of The Statesman, there will be no issue of this edition dated March 2, 2018 CBI arrests Karti in INX Media case Vendetta: Cong; PC son remanded in 1-day custody SNS WEATHER NEW DELHI, 28 FEB Mainly clear sky. Maximum and minimum temperatures likely to be around 34 and 22 degree celsius, respectively. RAINFALL: Nil RELATIVE HUMIDITY Max.91% Min. 36% Max: 33.5°C (+2) SUN RISES 05:58 hrs MOON RISES 17.04 hrs Min: 23.5°C (+4) SUN SETS 17:40 hrs MOON SETS 05:20 hrs TEMPERATURE Full moon today THUMBNAILS Aircel files for bankruptcy: Aircel said it has filed for bankruptcy as the company has been facing “troubled times” in “highly financially stressed” industry. The company said intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant “negaP8 tive business and reputational impact” . SBI revises deposit rates: The State Bank of India has revised retail and bulk deposits rates by up to 0.75 per cent for various maturities, effective Wednesday. For retail deposits, below Rs 1 crore, rates have been increased by up to 0.50 per cent. For deposits maturing in one year to less than two years, rates have been raised by 0.15 per cent to 6.40 per cent P8 from 6.25 per cent earlier. Nothing to do with invite to Atwal during Trudeau visit, says India: India on Wednesday said it had nothing to do with the presence of convicted Khalistan terrorist Jaspal Atwal at an event hosted by the Canadian High Commissioner in Mumbai or the invitation extended to him for a reception by the envoy here, asserting that any suggestion to the contrary P3 is “baseless and unacceptable”. he ex-Union Minister P Chidambaram's son Karti Chidambaram was arrested by the CBI on Wednesday morning in connection with the INX Media case. Karti, 46, was placed under arrest by a CBI team at the Chennai airport immediately upon his return from London. He was then put on a Delhi-bound flight and brought to the CBI headquarters in the national capital. The CBI produced Karti in the evening before a Delhi court which remanded him to the investigating agency's custody for one day. Karti was produced before metropolitan magistrate Sumeet Anand, with the CBI seeking his custodial interrogation for 15 days on the ground that he was not cooperating in its probe. The duty magistrate, while remanding Karti to one-day CBI custody, reportedly asked the agency to produce Karti before the designated CBI judge on Thursday. When he was being brought to the court room, Karti told reporters, “It is absolutely a political vendetta. I will be vindicated”. The principal Opposition Congress cried foul, with party leaders T and spokespersons, including Kapil Sibal and Randeep Surjewala, describing the arrest of Chidambaram's son as “political vendetta”, “malafide move”, and “diversionary ploy” of the Narendra Modi government reeling under thousands of crores of PNB fraud and other State-run bank scams. The ruling BJP as well as the Modi government dismissed the Congress's allegations, claiming that the CBI was taking action independently and that “law will take its own course”. In its remand plea, the CBI claimed that the sustained interrogation of Karti was needed to unearth the “total conspiracy” hatched in the case and to find out the details of overseas payments allegedly received by him from INX Media as a “quid pro quo”. On 15 May 2017, the CBI had lodged an FIR, alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving Rs 305 crore overseas funds in 2007 when Nirav Modi refuses to join CBI probe into PNB scam SNS & PTI NEW DELHI, 28 FEBRUARY Billionaire jeweller Nirav Modi has refused to join the CBI investigation in the USD 2 billion fraud in Punjab National Bank citing his business engagements, prompting the agency to issue a stern letter today asking him to appear before it next week. Meanwhile, the CBI has arrested PNB's internal chief auditor M K Sharma-- a chief manager-ranked official-- in connection with the case, they said, adding that it is the first arrest of any auditor of the bank. Sharma, a scale-IV officer, was responsible for auditing the systems and practices of the bank's Brady House branch--from where Letters of Undertakings (LoUs) were issued-- and report the deficiencies with the zonal audit office, they said. Meanwhile, in a terse letter, the CBI “directed” him to approach the Indian mission Congress retains 2 seats in MP bypolls in the country where he is residing so that immediate arrangement can be made for his travel to India, officials said. The agency has told him that it is mandatory for an accused to join the investigation whenever they are asked to, they said. He has been asked to appear for questioning next week, they said. The agency had earlier asked Modi on his official email id to join the investigation related to Rs 12,636 crore scam pertaining to fraudulent issuance of the LoUs and Letters of Credit (LCs) from Brady House branch of PNB in Mumbai in favour of his and his uncle Mehul Choksi's companies, they said. In response, Modi refused to join the investigation saying he has businesses abroad because of which he cannot return, they said. The probe agency officials have said the quantum of the alleged fraud perpetrated in the bank by billionaire jewellers Modi and Choksi stands close to USD 2 billion after the teams of the CBI and PNB found fresh LoUs and LCs worth Rs 1,251 crore related to Choksi's Gitanjali group of companies. The PNB had earlier put the defrauded amount at Rs 11,394.02 crore (USD 1.77 billion).The LoU is a guarantee which is given by an issuing bank to Indian banks having branches abroad to grant a short-term credit to the applicant. In case of default, the bank issuing the LoU has to pay the liability to credit giving bank along with accruing interest. Karti's father was the Union Finance Minister. The CBI had alleged that Karti had received kickback of Rs 10 lakh from INX Media in this regard and that he had also received money from INX Media to scuttle a tax probe. INX Media was then owned by Peter and Indrani Mukerjea, who have been in jail on charges of allegedly murdering Indrani's daughter Sheena Bora. The ED has also registered a money laundering case. During today's hearing, CBI's counsel V K Sharma reportedly told the court that Karti has been repeatedly travelling abroad which “confirmed apprehensions” that “he will flee” from the country. He alleged that one of the grounds for arresting Karti was that the CBI had recorded statement of Indrani before a magistrate on 17 Feb in which she had said that Karti had “accepted one million dollars from INX Media” at the Hyatt Hotel here. Advocate Abhishek Singhvi opposed the CBI’s remand plea. (P2) Indian economy grows at 7.2% NEW DELHI, 28 FEBRUARY Showing signs of recovery, the Indian economy recorded a five-quarter high growth of 7.2 per cent in the October-December period on good showing by key sectors like agriculture, construction and manufacturing. Besides, the data for eight core infrastructure sectors including coal, steel, cement and petroleum, showed improved growth of 6.7 per cent for January, up from 3.4 per cent in the same month a year ago. The finance ministry said that the data indicates a broad-based and significant acceleration of real economic activity as projected in the Economic Survey. “...robust growth in manufacturing and significant acceleration in construction mark a turnaround in the country’s economic growth momentum,” the ministry said in a stateSNS ment. SEE ALSO PAGE 8 Thousands join star funeral BHOPAL/BHUBANESWAR, 28 FEBRUARY SNS & PTI The Congress today retained both the Assembly seats in BJP-ruled Madhya Pradesh while it lost to the BJD the lone constituency in Odisha where bypolls were held this month. Brajendra Singh Yadav of the Congress defeated his BJP rival BaisahabYadav by a margin of 2,124 votes to win the Mungaoli seat while in Kolaras, Congress candidate Mahendra Singh Yadav prevailed over Devendra Jain of the BJP by 8,083 votes. BrajendraYadav got 70,808 votes while Baisahab Yadav bagged 68,684, a poll official said. In Kolaras, Mahendra Yadav polled 82,515 votes and Jain 74,432 ballots, the official said. The bypolls were necessitated by the deaths of sitting Congress MLAs. PTI After a lifetime under the arc-lights, Indian cinema icon Sridevi was today given a send-off fit for celluloid posterity with surging crowds of mourners walking with the cortege as it made its slow way through the city and thousands more glued to television to watch her last rites. The 54-year-old, whose sudden death in Dubai late Saturday sent shock-waves through India, was given a state funeral with her body wrapped in the tricolour and a gun salute by the Mumbai Police.Sridevi, Indian cinema's first woman superstar who straddled the parallel worlds of southern films and Bollywood, became an actor when she was only four years old. Three hundred films later, MUMBAI, 28 FEBRUARY the doe-eyed actor is still remembered for her comic timing, vivacity and her quicksilver expressions. Sridevi's funeral procession was the biggest Mumbai had seen for a Bollywood star since Rajesh Khanna in 2012 and perhaps the biggest for a woman, said old timers. There was a sea of people as far as the eye could see. The last rites were conducted by her film- maker husband Boney Kapoor as her family and close friends from the industry and outside packed into the Vile Parle Seva Samaj crematorium. The couple's daughters, Jahnvi and Khushi, were by her side, sources close to the family told PTI. Fans and the media were kept outside as the mortal remains of the star were consigned to the flames. CMYK
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