Excelsior Correspondent
JAMMU, Apr 17: CBI/ACB Jammu today presented challan against Uttam Chand and Ashok Singh Manhas, partners M/s Shiva Over Seas and others in the much publicized case of cheating with UCO bank to the tune of Rs 50 lakh.
According to the challan, M/s Shiva Over Seas applied for CC limit to the tune of Rs 50 lakh on March 13, 2008 on the basis of fake/ non-existing property offered as a collateral security towards the bank.
The land measuring 4 kanal and 5 marla situated at village Changerwan was stated to be owned by Ashok Kumar Manhas but actually the same was not belonging to him. Ashok Singh Manhas and Uttam Chand got false revenue documents in connivance with some unknown persons in support of their claim.
Thereafter, unknown officials of UCO Bank, Ashoka Market Raghunath Bazar, in criminal conspiracy with Ashok Singh Manhas and Uttam Chand, processed the loan on the basis of these false documents. The concerned Branch Manger also did not make any pre-sanctioned visit as per the bank rules before the sanction of CC limit/ loan.
An amount of Rs 35 lakh was sanctioned by the Zonal New Business Committee Delhi on the basis of recommendations of bank officials vide sanction note dated May 22, 2008. Ramesh Koul DIG (now retired) was the guarantor for the loan facilities as per agreement of the guarantee duly executed by him.
The accused borrowers exhausted the CC limit of Rs 35 lakh in September, 2008 and thereafter Uttam Chand requested the bank to allow an overdraft of Rs 10 lakh in the CC account on September 10, 2008. On the same day, overdraft of Rs 10 lakh was allowed from CC limit and transferred to another account of M/s Shiva Over Seas.
The borrowers did not repay the loan in both the accounts and used the money for their personal ends. As a result of criminal conspiracy, abuse of official position and fabrication/forgery of documents, both the loans turned NPA on December 18, 2009.
CBI presents challan in Rs 50 lakh cheating with bank
Employees’ plea to Health Minister
Excelsior Correspondent
SRINAGAR, Apr 17: The Jammu and Kashmir Health and Family Welfare Technical Employees Association of contractual/adhoc employees has expressed its concern over the non-disbursal of salaries for March by Block Medical Officer, Budgam on the pretext that these employees have not remitted the amount paid to them as arrears under Sixth Pay Commission although they were not entitled to receive the arrears.
In a press note, the general secretary of the Association said that BMO Budgam released Rs. 4.85 crores as arrears only after they paid some percentage to the officer for release of the arrears. He said the officer is un-necessarily victimizing them for not remitting the amount paid as arrears, adding that it was done only after her consent and approval.
The general secretary appealed Health Minister Sham Lal Sharma, Commissioner Secretary Health and Medical Education, Tanveer Jehan and Director Health Services, Kashmir, Dr. Saleem-ur-Rehman to intervene and get their salaries released and absolve them of the tremendous hardships being faced by them.
Meanwhile, Assistant Director, Dr. Masood has been appointed as enquiry officer to probe the issue.
‘Join hands for revival of Silk route’
Excelsior Correspondent
JAMMU, Apr 17:Today KASHMIRINK and Romancing Himalyan which has devoted itself for imparting the moral teaching of great sufi- saints, organized one of the unique round table series at Jammu in which galaxy of intellectuals, scholars, media personalities and Minister participated.
All the participants were of unanimous view that keeping globalization in mind, it has become imperative that new generation should be made aware about importance of silk route and contribution of all sufi-saints who have travelled through the route and strengthened the pillars of love, mutual brotherhood and peace in this belt.
Those who actively participated in today’s round table series on the topic included Minister for Medical Education R S Chib, Director Information, Khawaja Farooq Renzushah, Director Tourism, Jammu Robin Mehta, Gandhian, Padamshree S P Verma, Representative BCCI Ranjeet Kalra, President, Chamber of Commerce, Jammu Y. B. Sharma, Director, Department of Strategic & Regional Studies Dr. Mohammad Monir Alam, Head of Department, Department of Political Sciences Prof. Anurag Gangal, Bureau Chief, Times Now Pardeep Dutta representatives of KASHMIRINK and the organizer of the event Hina, Babar Afzal, representative of student community and KASHMIRINK foundation Abhin-andan.
Referring to the long list of saints and seers who laid the foundation of spiritualism in consonance with the serene environs of the state bound by a series of mountain ranges, Mr. Chib said that these godly men were instrumental in creating the composite culture based mutual brotherhood and religious tolerance. He said that saints and seers from across the world would come to the state to find solace and spirituality setting in the traditions of Sufi way of life which has appealed after generation.
The Minister said that the Sufi shrines from Poonch Rajouri to Kishtwar and Lakhanpur to Leh would prove a great attraction for the people who want to spend peaceful moment to quench their thirst of spirituality.
Speaking on the occasion, Director Information, Kh Renzushah said it were great sufi-saints like Hazrat Bulbul Shah and Hazrat Shah Hamdan who travelled to Kashmir through silk route. He said that importance of 3-K in sufi line lies in mutual brotherhood and communicative route between Kashgar, Kashmir and Kishtwar. He said that route since times immemorial was either start of the silk route or culmination of silk route. Thus the importance of J&K state in the historical perspective with regard o silk route is for more important.
Gandhian Padamshree S. P. Verma while declaring Babar Afzal Gandhian Global Family (GGF) J&K Brand Ambassador said silk route was a symbol of joining people and integration as we all should join our hands together to work for its revival so that we are able to yield the fruits of this route which will provide us opportunities to conduct trade with all central Asian countries.
Bureau Chief of Time Now Pradeep Dutta while acknowledging the importance of silk route said that the present generation is to be made aware about the teachings of sufi saints, based on love and mutual brotherhood by introducing the teachings in the syllabi.
President Chamber of Commerce Mr. Y. B. Sharma underscored the importance of historical silk route and said that strong economy and trade is possible when borders become irrelevant and all people come together in amicable atmosphere to work for peace and prosperity.
Mr. Robin, Director Tourism Jammu said that the Tourism pilgrimage is the new phenomenon throughout the world and J&K which has a composite faith and culture can take full benefit of pilgrimage tourism. He said world is presently looking towards contribution of great sufi saints and their historical past and J&K is rich in all aspects to provide this rich material to all those who have passion for the same.
Director, Department of Strategic & Regional Studies Dr. Mohammad Munir Alam said J&K state was historically important component of silk route and in case this route is revived, it will give highest boost to the economy of our country.
Head of Department, Political Science, Prof. Anurag Gangal said that it is always better to call sufi life as the pure way of life and everybody can play a positive role in propagating the pure teachings of sufi saints so that there remains no scope for elements of hate to exist in the society.
Chana moves up in futures trade on spot demand
NEW DELHI, Apr 17: Chana prices traded marginally higher by Rs 6 to Rs 3,804 per quintal in futures trade today as speculators created fresh positions, driven by a rise in demand in the spot market.
Expectations of fall in output in the current year also supported the uptrend in chana prices.
At the National Commodity Derivatives Exchange, chana for delivery in May rose by Rs 6, or 0.16 per cent, to Rs 3,804 per quintal with an open interest of 3,807 lots.
Likewise, the commodity for April contract gained Rs 5, or 0.14 per cent, to Rs 3,675 per quintal in 22,870 lots.
Analysts said fresh buying by speculators on the back of a rise in demand in the spot market and reports of a fall in output this year mainly helped chana prices to trade marginally higher at futures trade. (PTI)
Mentha oil futures rise 1.59 pc as demand picks up
NEW DELHI, Apr 17: Mentha oil prices rose by Rs 38 to Rs 2,421 per kg in futures trade today as speculators created fresh positions, driven by pick-up in industrial as well as export demand in the spot market.
Tight stocks position in the physical market due to less arrivals from producing region of Chandausi in Uttar Pradesh also supported the upsurge in Mentha oil prices at futures.
At the Multi Commodity Exchange, mentha oil for delivery in May shot up by Rs 38, or 1.59 per cent, to Rs 2,421 per kg in business turnover of 74 lots.
Similarly, the oil for delivery in April contract rose by Rs 25.80, or 1.07 per cent, to Rs 2,441 per kg in business turnover of 248 lots.
Marketmen said fresh buying by speculators on the back of a firming trend at the spot market, following a pick-up in industrial and export demand, mainly led to rise in mentha oil prices at futures trading.
They said less arrivals from Chandausi in Uttar Pradesh, major producing centre, also influenced the trend. (PTI)
MMTC invites bids for import of 12,000 tons of RBD palm oil
NEW DELHI, Apr 17: State-run MMTC has invited bids for import of 12,000 tonnes of RBD palmolein to be delivered by May 7.
Bids will open on April 23 and closes on the same day, the company said.
The first lot shipment of 6,000 tonnes should be delivered by April 30 and the rest by May 7, it said, adding that bidders will have to import the edible oil either from Indonesia or Malaysia.
The shipment should reach Kakinada and Krishnapatnam ports in Andhra Pradesh, it added.
India imports about 50 per cent of domestic requirement of vegetable oil. (PTI)
Jeera moves up in futures trade on spot demand
NEW DELHI, Apr 17: Supported by pick-up in spot demand, jeera futures prices traded higher by 92.50 to Rs 11,665 per quintal in futures trade today on increased buying by speculators.
However, expectations of higher output this year capped the gains.
At the National Commodity and Derivatives Exchange, jeera for delivery in April month rose by Rs 92.50, or 0.80 per cent, to Rs 11,665 per quintal with an open interest of 3,507 lots.
Likewise, the spice for delivery in May contract traded higher by Rs 85, or 0.71 per cent, to Rs 12,055 per quintal in 16,971 lots.
Analysts said a firming trend at the spot markets on the back of a rise in demand mainly influenced jeera prices at futures trading here.
They said expectations of better crop this season limited the gains. (PTI)
Crude palm oil futures rise 0.11 pc on increased demand
NEW DELHI, Apr 17: Crude palm oil prices improved by 0.11 per cent to Rs 618.60 per 10 kg in futures trading today due to increased demand in the spot market.
On the Multi Commodity Exchange, crude palm oil for delivery in April month traded higher by 70 paise, or 0.11 per cent, to Rs 618.60 per 10 kg in business turnover of 198 lots.
Similarly, the oil for delivery in May contract edged up by 50 paise, or 0.08 per cent, to Rs 624.60 per 10 kg in 556 lots.
Market analysts attributed to rise in crude palm oil futures to increased demand in the spot market. (PTI)
Romney leads Obama in first national tracking poll
WASHINGTON, Apr 17: Presumptive Republican nominee Mitt Romney leads President Barack Obama by two points in the first national daily tracking poll in run up to November presidential elections.
While Romney is supported by 47 per cent of national registered voters, Obama has backing 45 per cent in the inaugural Gallup Daily tracking results from April 11-15. However, this comes within the three per cent margin of error.
Notably, 65-year-old Romney is yet to be formally declared the Republican presidential nominee.
Gallup said this initial report is based on interviews with 2,265 registered voters, and highlights the potential closeness of this year’s race, with Romney and Obama essentially in a statistical tie.
Gallup’s previous general election trial heat, from a national poll conducted March 25-26, showed Obama with a slight 49 per cent to 45 per cent lead over Romney.
However, according to the Real Clear Politics average of polls, Obama leads Romney by three per cent nationally, although the average doesn’t take into account the latest Gallup numbers. (PTI)
Copper futures shed 0.71 pc on weak global cues
NEW DELHI, Apr 17: Tracking a weak trend in global markets, copper prices fell by Rs 2.95 to Rs 411.80 per kg in futures market today as speculators offloaded their positions.
Trading sentiment weakened as copper fell in London as forecasts for growth in US industrial production can’t make up for signs of slowdown in China, the world’s largest buyer of the metal.
At the Multi Commodity Exchange, copper for delivery in April fell by Rs 2.95, or 0.71 per cent, to Rs 411.80 per kg in business turnover of 17,970 lots.
Similarly, the metal for delivery in June contract shed Rs 2.50, or 0.59 per cent, to Rs 417.70 per kg in 2,049 lots.
Market analysts said apart from weakening global trend, sluggish demand from consuming industries in the spot market mainly led to the fall in copper prices at futures trade.
Meanwhile, copper declined 0.3 per cent to USD 7,958.25 a tonne on the London Metal Exchange. (PTI)