Govt orders inspection of 8 Satyam firms

NEW DELHI: Taking a tough stand on Satyam financial fiasco, corporate affairs minister Prem Chand Gupta said that there would not be laxity against the guilty.

The government has ordered inspection of eight Satyam companies under Companies Act.

"We are very clear and a co-ordinated action would be taken," he told reporters when asked what action would be taken against Raju and auditors.

On the delay by the Andhra Pradesh government, Gupta said "there was no delay...with this kind of action, what has been done so far in the last three days, I think this does not happen anywhere in the world."

“Bank statements of the company are still missing and we will get them as part of the probe,” Gupta said.

“The new board of directors will meet within 7 days,” added the minister.

PTI quoted P C Gupta as saying that the apex body of accounting firms ICAI has sought some information from the auditors of the company and Financial Reporting Review Board, adding that they can ask for working papers of the audit and that has already happened.

"Once that (the papers) is received, ICAI will take its view," Gupta told the agency.

Asked whether he would meet Prime Minister Manmohan Singh to brief him the developments, Gupta said "well, let’s hope so."

Source: http://timesofindia.indiatimes.com/Govt_orders_inspection_of_8_Satyam_firms/articleshow/3959749.cms

DDA flat allottee found dead in Rajasthan

NEW DELHI: The alleged bungling in the DDA scheme slipped further into trouble when an allottee of a flat was found dead under mysterious circumstances in Rajasthan on Friday evening, according to reports.

The deceased, Hari Singh Koli, a tailor by profession, was one of the three successful allottees from Bayana.

Hari was reportedly allotted a flat under ST quota in the controversial DDA housing scheme without even applying for it.

"He had gone for a drink at a vacant house near his residence around 6 pm on Friday and his wife found him unconscious about an hour-and-a-half later," a Bayana police official said.

"He was declared dead on arrival at the local hospital."

The autopsy would be conducted on Saturday.

A police official said, "We are investigating the case but prima facie it appears an accidental death due to heavy drinking, he probably fell down the stairs."

The economic offences wing (EOW) of Delhi Police on Friday arrested a man from Jhunjhunu, who is believed to have filled more than 300 application forms in the names of locals after obtaining their documents.

A case has been registered under various sections of cheating, forgery, criminal conspiracy and common intention.

The accused, identified as Laxmi Narayan Meena (54), was arrested from Jhunjhunu and brought to Delhi after the EOW probe showed that he allegedly facilitated filling of application forms in connivance with others. “Laxmi had approached several persons of ST category in remote areas of Jhunjhunu and collected their details for applying in the DDA housing scheme. He also took their PAN cards, caste certificates and other documents although he did not ask them for money,’’ said a senior police officer.

Investigators believe Laxmi Narayan was contacted by those involved in the fraud in Delhi to act as a pointperson in Jhunjhunu to lure fake applicants from among STs. ACP (EOW) SBK Singh confirmed the first arrest in the case.

Source: http://timesofindia.indiatimes.com/DDA_flat_allottee_found_dead_in_Rajasthan/articleshow/3959884.cms

DDA flat allottee found dead in Rajasthan

NEW DELHI: The alleged bungling in the DDA scheme slipped further into trouble when an allottee of a flat was found dead under mysterious circumstances in Rajasthan on Friday evening, according to reports.

The deceased, Hari Singh Koli, a tailor by profession, was one of the three successful allottees from Bayana.

Hari was reportedly allotted a flat under ST quota in the controversial DDA housing scheme without even applying for it.

"He had gone for a drink at a vacant house near his residence around 6 pm on Friday and his wife found him unconscious about an hour-and-a-half later," a Bayana police official said.

"He was declared dead on arrival at the local hospital."

The autopsy would be conducted on Saturday.

A police official said, "We are investigating the case but prima facie it appears an accidental death due to heavy drinking, he probably fell down the stairs."

The economic offences wing (EOW) of Delhi Police on Friday arrested a man from Jhunjhunu, who is believed to have filled more than 300 application forms in the names of locals after obtaining their documents.

A case has been registered under various sections of cheating, forgery, criminal conspiracy and common intention.

The accused, identified as Laxmi Narayan Meena (54), was arrested from Jhunjhunu and brought to Delhi after the EOW probe showed that he allegedly facilitated filling of application forms in connivance with others. “Laxmi had approached several persons of ST category in remote areas of Jhunjhunu and collected their details for applying in the DDA housing scheme. He also took their PAN cards, caste certificates and other documents although he did not ask them for money,’’ said a senior police officer.

Investigators believe Laxmi Narayan was contacted by those involved in the fraud in Delhi to act as a pointperson in Jhunjhunu to lure fake applicants from among STs. ACP (EOW) SBK Singh confirmed the first arrest in the case.

Source: http://timesofindia.indiatimes.com/DDA_flat_allottee_found_dead_in_Rajasthan/articleshow/3959884.cms

Fuel price cut in next few days: Deora

MUMBAI: Petroleum minister Murli Deora on Saturday said the government is considering a further up to Rs 5 per litre reduction in petrol, Rs 3 a litre in diesel and Rs 25 per LPG cylinder prices in the next few days.

"We have talked to Prime Minister, in coming days we are trying to reduce the prices of petrol, diesel and LPG...give us 10-15 days," Deora told reporters in Mumbai.

"According to me the advisable reduction would be Rs 5 per litre for petrol, Rs 3 per litre for diesel and Rs 25 on LPG cylinder," he said when asked about the extent of reduction in prices.

Oil companies have minimized the losses on petrol and diesel, as crude oil prices have lowered to $40 per barrel from its peak of $147 a barrel in July last year.

"From this quarter onwards, we expect the oil marketing companies to start making profits. But, if the crude oil price rises beyond 40 dollar per barrel, then it (profit) will not happen," Deora added.

When asked about a reduction in kerosene prices, he said it is already available at the cheapest rate in India of Rs 9 per litre.

On December 6, the Government had reduced prices of petrol and diesel by Rs five and Rs two per litre, respectively, as global crude prices hovered around four year low.

Source: http://timesofindia.indiatimes.com/Fuel_price_cut_in_next_few_days_Deora/articleshow/3959969.cms