The Madras High Court today ordered issue of
notice to Deputy Chairman and Secretary General of Rajya Sabha
Secretariat on a petition challenging Sachin Tendulkar's nomination as a
member of the Upper House. Petitioner A Benitto, an advocate, sought a
direction to the Deputy Chairman and Secretary General to specify the
authority on which Tendulkar's nomination was accepted by the Upper
House Secretariat. He contended a criminal complaint was launched
before the Commissioner of Police here against Tendulkar for offences
committed under the Prevention of Insults to National Honour Act, 1971
and Emblems and Names (Prevention of Improper Use) Act, 1950. Since
police refused to register the case, he approached the bench here which
directed the judicial magistrate at Melur to initiate proceedings under
criminal law against Tendulkar and the same was pending adjudication.
He alleged that the retired cricketer had cut a cake decorated with the
colours of the tricolour at a party hosted by an NRI in Jamaica before
2011 World Cup series and also submitted photographs and media reports
to the court. He submitted that Tendulkar's act was a 'grave insult' on
the national flag. Contending that a person against whom a criminal
complaint is pending, Benitto challenged Tendulkar's appointment as an
MP. The bench, comprising justices R Sudhakar and V S Velumani, heard
the plea and ordered notice to the Deputy Chairman and the Secretary
General, returnable in four weeks.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...

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