November 29: Picturesque newsview
November 29: Picturesque newsview
India's Minister of Environment Jairam Ramesh listens to questions during a news conference at the Fourth Basic Ministerial Meeting on Climate Change in Rio de Janeiro
Hindustan Construction Co's unit Lavasa said India's environment ministry acted \"without jurisdiction\" when it demanded reasons not to close its town building project, in a move that could delay the unit's initial public offering.
In a lengthy statement issued on Monday, Lavasa said the ministry was acting under pressure from political activists.
\"You have chosen to act at the instance and behest of (activist) Ms Medha Patkar and others in haste and in a high-handed arbitrary manner,\" the statement said.
Lavasa, which is 65 per cent owned by HCC, was planning a Rs 2,000 crore IPO. It issued its draft prospectus in September and got regulatory clearance earlier this month.
An employee carries bundles of Indian currency notes inside a bank in Agartala, capital of Tripura
Executives from financial firms arrested in a bribes-for-loans investigation, the latest scandal to rock India, were set to appear before a special court in Mumbai later on Monday, sources involved in the matter said.
The probe, unveiled last week, comes close on the heels of a scandal involving allocation of cellular licences at below-market prices that has paralysed parliament, and threatens to tarnish fast-growing India's image as a favoured investment destination.
India's investigative agency will ask the court to extend the custody of the executives as its investigation continues, one of the sources said.
A cashier counts currency notes inside a bank in Lucknow
Money Matters Financial Services, which is at the centre of a bribes-for-loan scandal, said on Monday its board had decided to put the money raised from sale of shares in bank term deposit.
\"After deliberations, the board resolved that no amount from the said fixed deposits be withdrawn or managed in any manner without prior approval of the board,\" the company said in a statement to the stock exchange.
The company had recently raised Rs 445 by selling shares to institutional investors.
Eight executives from public and private financial institutions have been arrested in the scandal, one of several to dog the government of Prime Minister Manmohan Singh and test India's ability to crack down on corruption.
The Central Bureau of Investigation is also looking into the involvement of fund managers and senior officials at state-run insurance companies in all deals arrang
A view of the parliament building is seen in New Delhi
India's parliament has been in deadlock for nearly three weeks, preventing bills from being passed as opposition parties keep up demands for a full investigation into alleged government corruption.
The government has refused to agree to an all-party investigation, saying a separate one is already under way. The speaker of the powerful lower house has called an all-party meeting on Tuesday in the latest attempt to break the impasse, though informal talks over the weekend showed scant promise of a breakthrough.
The Congress party-led coalition has said it had no intention of cutting short the winter session of parliament that runs to December 13, though in practice the session could prove fruitless.
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