5 Minutes Read

Yeddyurappa resigns; Congress, JD (S) to form government in Karnataka

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

B. S. Yeddyurappa resigned as the Chief Minister of Karnataka in the State Assembly before the floor test, in which the party was supposed to gain a majority to stake its claim to form the largest single-party government on Saturday. Earlier, before the floor test in the Assembly, an emotional Yeddyurappa said that the people …

B. S. Yeddyurappa resigned as the Chief Minister of Karnataka in the State Assembly before the floor test, in which the party was supposed to gain a majority to stake its claim to form the largest single-party government on Saturday.

Earlier, before the floor test in the Assembly, an emotional Yeddyurappa said that the people of Karnataka had given BJP the mandate to form the government and condemn the “backdoor” politics by Congress- JD(S).

He added that he will stand by the farmers and dalits till his last breath and work for crop loan waiver of up to 1 lakh in public sector bank, co-operative bank and 1.5 lakh crore towards irrigation and other welfare schemes.

The Supreme Court on Friday had ordered a floor test in the Karnataka Assembly at 4 p.m. on Saturday.

K.G. Bopaiah, continued as the pro-tem speaker during the proceedings and was present for the floor test which was broadcast live as per the Supreme Court’s orders.

Yeddyurappa held final round of talks earlier today with senior BJP officials, Prakash Javadekar and Murlidhar Rao.

Yeddyurappa, 75, took the oath in Kannada in the presence of party’s central and state leaders and its newly-elected legislators and senior officials.

The newly appointed Members of the Legislative Assembly (MLAs) took their oath after the Karnataka Assembly session began on Saturday.

Bharatiya Janata Party had won 104 seats in the Assembly elections held in 222 segments, falling short of eight seats of the 112 halfway mark. BJP leader B.S. Yeddyurappa was on Thursday sworn in as the Chief Minister.

The Congress won 78 seats and the Janata Dal-Secular (JD-S) won 37 wherein the Congress later said it would support a JD-S led government after the May 12 elections threw up a hung assembly.

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nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Supreme Court dismisses plea against pro tem speaker in Karnataka

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Congress and the JD-S had questioned Karnataka Governor Vajubhai Vala’s decision to appoint K.G. Bopaiah as the pro tem speaker in the assembly.

Disposing off an application by the Congress and the JD-S questioning Karnataka Governor Vajubhai Vala’s decision to appoint K.G. Bopaiah as the pro tem speaker in the Assembly, the Supreme Court on Saturday said he will remain the interim speaker and there will be a daylong live telecast of the Assembly proceedings involving administering of oath to the newly elected members, followed by floor test of Chief Minister B.S. Yeddyurappa at 4 p.m.

A bench comprising Justice A.K. Sikri, Justice S.A. Bobde and Justice Ashok Bhushan recorded a statement by the Karnataka government that there will be a live telecast of the Assembly proceedings, currently in progress.

The court also noted that several regional channels will be provided with live feeds for the telecast.

(To be updated)

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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SC to hear plea against Bopaiah’s appointment on Saturday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Supreme Court will hear on Saturday morning an application by the Congress and the JD-S challenging Karnataka Governor Vajubhai Vala’s decision to appoint KG Bopaiah, a relatively junior MLA, as the pro-tem Speaker. Advocate Dev Dutt Kamat, who has filed the application, told reporters at the Supreme Court that the application was filed at …

The Supreme Court will hear on Saturday morning an application by the Congress and the JD-S challenging Karnataka Governor Vajubhai Vala’s decision to appoint KG Bopaiah, a relatively junior MLA, as the pro-tem Speaker.

Advocate Dev Dutt Kamat, who has filed the application, told reporters at the Supreme Court that the application was filed at 7:45 pm and has been listed to be heard by a bench of Justice AK Sikri, Justice SA Bobde and Justice Ashok Bhushan at 10:30 am on Saturday.

He said the Supreme Court has passed scriptures against Bopaiah for acting in a partisan manner and disqualifying MLAs who had earlier revolted against then Chief Ministere BS Yeddyurappa.

Bopaiah is to preside over the floor test on Saturday to ascertain whether newly-appointed Chief Minister Yeddyurappa enjoys a majority support in the assembly.

In the evening, a team of Congress leaders arrived at the Supreme Court to file the plea.

The Congress has contended that Bopaiah is not the senior-most member in the newly-elected House and as per the parliamentary convention, it is only the senior-most member in terms of number of times he has been elected to the Assembly who can be a pro-tem Speaker.

Earlier in the day, the party alleged Bopaiah’s appointment was made “with the sole intent of manufacturing a majority out of minority for Yeddyurappa”.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Congress approaches Supreme Court against appointment of KG Bopiah

In an another controversial move, the Karnataka governor Vajubhai Vala  has appointed three time MLA KG Bopiah as the pro-tem speaker, breaking convention of inviting the senior most MLA.

Congress has submitted a plea requesting urgent hearing in the Supreme Court against the appointment of KG Bopaiah. The Supreme Court has not yet listed the matter for hearing, reported CNN-News18. 

Earlier, the Supreme Court ordered a floor test in the Karnataka Assembly at 4 PM on Saturday, drastically slashing the 15-day window given by the governor to BJP Chief Minister B S Yeddyurappa to prove majority.

The apex court turned down the plea of BS Yeddyurappa’s counsel Mukul Rohatgi who had sought time till at least Monday to conduct a floor test.

The court observed that there were enough precedents to conduct a floor test within a day’s time.

 5 Minutes Read

Supreme Court rejects BJP’s demand, directs Yeddyurappa to face floor test on Saturday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Yeddyurappa’s interim government in Karnataka will have to prove it’s number, no later than tomorrow, as per Supreme Court’s latest directions. The 3 judge bench headed by Justice Sikri held that the constitutionality of the governor’s actions aside, the deadlock in Karnataka could best be broken by an expedited floor test. This proposal by the …

Yeddyurappa’s interim government in Karnataka will have to prove it’s number, no later than tomorrow, as per Supreme Court’s latest directions. The 3 judge bench headed by Justice Sikri held that the constitutionality of the governor’s actions aside, the deadlock in Karnataka could best be broken by an expedited floor test.

This proposal by the court was met with severe opposition by former attorney general Mukul Rohatgi, appearing for BS Yeddyurappa. He argued that constitutional precedents provided for at least 15 days and that the BJP should be allowed at least 7 days time.

The top court, however, rebutted the arguments that there were enough precedents by way of SC judgments that provided for immediate floor tests to be conducted. Rohatgi, then revised his demand, requesting that the floor test could be conducted on Monday. This demand too failed to cut any ice with the court.

The orders for floor test came after the SC observed that the deadlock required urgent and immediate solutions.

As per the court, it is a hung assembly that raises questions of governor’s exercise of discretion. The SC also observed that irrespective of the scenario, the floor of the assembly is where the real test lies.

Meanwhile, Abhishek Manu Singhvi submitted that any governor who would have applied his or her mind, could not have arrived at the conclusion that one is bigger than two. He also submitted that Yeddyurappa had claimed majority before the governor and had sought time before the court for floor test without giving names or signatures. He alleged that the BJP was trying to “manufacture a majority”.

Kapil Sibal, senior Congress leader, also argued that the constitution does not provide for absolute discretion to any recognised authority. Hinting at the governor, he argued that exercise of discretion must be guided by guidelines or rules. Sibal further submitted that the only way Yeddyurappa can claim majority is by breaking up the Congress and JD(S). This, Sibal argued, would be tantamount to the court allowing a constitutional immorality.

Here, the court observed that it understood that Congress was “between the devil and deep sea”.

In fact, in a lighter vein, Justice Sikri also remarked that jokes were doing the rounds on Whatsapp that the owner of the resort where the MLAs had been parked had also moved the governor’s house in a bid to form government, claiming the presence of the MLAs.

Meanwhile, eminent jurist Ram Jethmalani’s prayer for videographing the floor test was rejected. SC also rejected a prayer by the attorney general for secret ballot.

The supreme court has also allowed for appointment of a protem speaker for governing house operations and disallowed nomination of any leaders or taking any policy decisions, till the floor test.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Mobile body IAMAI moves apex court over RBI’s cryptocurrency ban

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Internet and Mobile Association of India (IAMAI) has filed a writ petition in the Supreme Court (SC) to put a stay on the central bank’s order on banning cryptocurrency, The Economic Times reported. The Reserve Bank of India (RBI) refused to declare the use and dealing of virtual currencies even by regulated entities on …

The Internet and Mobile Association of India (IAMAI) has filed a writ petition in the Supreme Court (SC) to put a stay on the central bank’s order on banning cryptocurrency, The Economic Times reported.

The Reserve Bank of India (RBI) refused to declare the use and dealing of virtual currencies even by regulated entities on April 6, at the RBI policy meet.

The central bank also gave the banks a deadline of July 6 to adhere to this norm.

IAMAI’s petition was the fifth such petition to be filed in the apex court, the report said, referring to the filing spotted in the SC’s website.

Subho Ray, IAMAI president, confirmed this development to the paper on Wednesday but did not mention when the petition is scheduled for the hearing.

Earlier,  Kali Digital Eco-systems and Moneytradecoin, crypto exchanges, filed petitions to the Delhi High Court against the RBI rule and four other crypto exchanges filed a joint writ petition in the apex court against the order.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Here is the full text of Supreme Court order refusing to stay swearing-in of Yeddyurappa

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Supreme Court on Thursday, after a midnight hearing, refused to stall the swearing-in of BJP leader BS Yeddyurappa as Karnataka’s new Chief Minister. The court, however, sought the communications which Yeddyurappa had written to Karnataka governor informing him his election as BJP legislature party. After Karnataka Governor Vajubhai Vala on Wednesday invited BJP legislative …

The Supreme Court on Thursday, after a midnight hearing, refused to stall the swearing-in of BJP leader BS Yeddyurappa as Karnataka’s new Chief Minister.

The court, however, sought the communications which Yeddyurappa had written to Karnataka governor informing him his election as BJP legislature party.

After Karnataka Governor Vajubhai Vala on Wednesday invited BJP legislative party leader BS Yeddyurappa to form the new government in the state, the Congress approached Supreme Court Chief Justice Dipak Misra for an urgent hearing on the matter.

The court said that the swearing-in is subject to the final outcome of the matter before it.

During the hearing, that commenced at 2.20 a.m. and concluded with the court passing order at 5.30 in the morning, Attorney General K.K. Venugopal was asked to produce the letters which the court was told are with the Karnataka governor.

Here is the full text of Supreme Court’s order

The petitioners have filed this petition challenging the validity of Communication No.GS 41 GOB 2018 dated 16th May, 2018, addressed by the Governor of Karnataka to Shri B.S. Yeddyurappa (respondent No.3 herein) inviting him to form the government and be sworn in as the Chief Minister of the State of Karnataka.

This Bench was specially convened at odd hours to hear the matter as, on the basis of the said letter, respondent No.3 has decided to take oath at 9.30 a.m. on 17th May, 2018. We have heard Dr. Abhishek Manu Singhvi, learned senior counsel appearing for the petitioners. On behalf of the Union of India, Mr. K.K. Venugopal, learned Attorney General has appeared, Mr. Mukul Rohatgi, learned senior counsel, has also made submissions, though he has stated that he has instructions from three M.L.As, viz. Mr. Govind M.Karjol, C.M. Udasi and Mr. Basavaraj Bommai, of the BJP party to represent. The petitioners have impleaded three respondents.

Respondent No.1 is the Union of India, and as mentioned above learned Attorney General has appeared on its behalf. Since respondent Nos.2 and 3 are not represented, we issue formal notice to them. In addition, respondent No.2 shall be served through the Standing Counsel for the State. After hearing the parties, we are of the opinion that it is necessary to peruse the letters dated 15th May,2018 and 16th May, 2018 submitted by the respondent No.3 to the Governor which find a mention in the communication dated 16th May, 2018 of the Hon’ble Governor. We request the learned Attorney General and/or respondent No.3 to produce these letters on the next date of hearing.

This Court is not passing any order staying the oath taking ceremony of respondent No.3. In case, he is given oath in the meantime, that shall be subject to further orders of this Court and final outcome of the writ petition. List the matter for further hearing at 10.30 a.m. on 18th May, 2018. The respondents may file their response in the meantime.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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No stay on Yeddyurappa swearing-in after midnight battle in Supreme Court

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Amid jockeying for power in Karnataka, the Supreme Court early on Thursday after a midnight hearing refused to stall the swearing-in of BJP leader B.S. Yeddyurappa as Karnataka’s new Chief Minister. The court, however, sought the communications which Yeddyurappa had written to Karnataka Governor informing him his election as BJP legislature party. Yeddyurappa would take …

Amid jockeying for power in Karnataka, the Supreme Court early on Thursday after a midnight hearing refused to stall the swearing-in of BJP leader B.S. Yeddyurappa as Karnataka’s new Chief Minister.

The court, however, sought the communications which Yeddyurappa had written to Karnataka Governor informing him his election as BJP legislature party.

Yeddyurappa would take the oath as the Chief Minister of Karnataka on Thursday at 9.30 a.m. at Raj Bhavan.

The court said that the swearing-in is subject to the final outcome of the matter before it.

The bench headed by Justice A.K. Sikri, while seeking Yeddyurappa’s response on the petition by Congress and Janata Dal-Secular (JD-S) seeking to stall his swearing-in, has directed further hearing of the matter at 10.30 a.m. on Friday.

During the hearing, that commenced at 2.20 a.m. and concluded with the court passing order at 5.30 in the morning, Attorney General K.K. Venugopal was asked to produce the letters which the court was told are with the Karnataka Governor.

The top court heard a joint petition by the Congress and JD-S challenging Governor Vajubhai Vala’s decision inviting Yeddyurappa to form a new government in the state despite having 104 MLAs — eight short of simple majority.

The court also issued a notice to Yeddyurappa, asking them file a reply even former Attorney General Mukul Rohatgi, who appeared for the BJP said how long Yeddyurappa should be given to prove majority could be debated after two days.

The petition was filed late on Wednesday night after Governor Vala invited Yeddyurappa for an oath taking ceremony on Thursday at 9 a.m. and gave him days to prove his majority in the legislative assembly.

The Congress and the JD-S, who formed a hurriedly stitched post-poll alliance after a hung assembly verdict to claim a majority of 116 members in the new assembly, called the Governor’s decision “unconstitutional”.

“The BJP has only 104 MLAs, the Governor invited Yeddyurappa to form government in an unconstitutional manner,” senior counsel Abhishek Manu Singhvi, who appeared for the Congress, told the three-member bench of Justices A.K. Sikri, S.A. Bobde and Ashok Bhushan.

Chief Justice Dipak Misra constituted the bench shortly after midnight on Wednesday to hear the matter in court number six of the Supreme Court.

Singhvi argued in the full pack court room and talked about occasions when post-poll alliances have been called despite single largest party.

He cited the instances of Goa and Manipur where the Congress had emerged as the single largest party sans majority but post-alliances were invited to form governments.

He said in the case of Karnataka, it was unheard of a Chief Minister who does not have a majority was given 15 days to conduct floor test.

“There is only one way a party which got 104 will get 113… I heard he asked for seven days, but the Governor gave 15 days. Elementary common sense and arithmetic against this kind of giving of time,” Singhvi said.

He said in Jharkhand in 2005, Goa in 2017 and in the Jagadambika Pal case in Uttar Pradesh, the court advanced the date of floor test from seven days to 48 hours.

“It is biggest license to poaching if Governor gives 15 days to the BJP to prove majority,” he said.

To this, the Justices Sikri, Bobde and Bhushan said they were wondering whether the Supreme Court can restrain a Governor that might lead to constitutional vacuum in a state.

They said that the general trend of the past Supreme Court judgements was not to issue injunction to Governor or to restrain Governor.

Singhvi responded: “It is not like restraining the Governor, who only acted in pursuance of the BJP letter. Act of swearing-in is less than they make it out to be.

“If President’s rule under Article 356 can be stayed by a court, why not this (decision to invite BJP and give 15 days for floor test) in which a Governor has exercised his discretion without the aid and advice of the Cabinet?”

Attorney General K.K. Venugopal, appearing for the Centre, in his argument said everything was in the realm of “speculation” as the entire matter was still “a grey area”.

Former AG Mukul Rohatgi who appeared for the BJP questioned the urgency of the matter to hear it at midnight.

“Will heavens fall if a person is sworn in in the morning?” he said.

Justice Sikri asked him to submit before the court how his side was claiming a majority in the House.

Venugopal intervened and said, “Everything is reversible. What is the great loss by waiting for 15 days.”

Justice Bobde countered: “That is the other point. Why wait for 15 days?”

Venugopal said it was the Governor’s decision and it was an area of darkness how Yeddyurappa was claiming to form the government.

“But let the swearing-in go on. This is a purely reversible situation.”

The court observed that it was “preposterous” to argue that before MLAs take oath they were not amenable to anti-defection law. “It means open invitation to horse-trading.”

“In a case like this where the opposite side is showing 117 MLAs support, how will you have 112?,” Justice Sikri asked Venugopal.

The case was still being heard till early morning on Thursday.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Sahara failed to deposit money, Aamby Valley auction to continue, says Supreme Court

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Supreme Court on Wednesday said the process for the auction of Sahara’s Aamby Valley project in Maharashtra will continue after the group failed to deposit Rs 750 crore in the Sebi-Sahara Refund Account. The order by a bench of Chief Justice Dipak Misra, Justice Ranjan Gogoi and Justice AK Sikri came after the official …

The Supreme Court on Wednesday said the process for the auction of Sahara’s Aamby Valley project in Maharashtra will continue after the group failed to deposit Rs 750 crore in the Sebi-Sahara Refund Account.

The order by a bench of Chief Justice Dipak Misra, Justice Ranjan Gogoi and Justice AK Sikri came after the official liquidator said that the Sahara Group has not deposited Rs 750 crore in the refund account.

Posting the matter for July 12, the bench said: “As far as the auction of the property is concerned, the same shall continue as the contemner has failed to deposit Rs 750 crore, as suggested by him earlier.”

The bench on April 19 had said that the group had time till May 15 to sell its property and if it fails to do so, the Bombay High Court’s official liquidator will proceed with the proposed auction process to sell the same.

Spread over 8,900 acres, the Aamby Valley property is to be sold by splitting it into saleable parcels of land as there were no takers for the purchase of the entire real estate project.

In its report, the official liquidator had earlier said that the procedure for auctioning the Aamby Valley property has commenced and bids will be invited from May 21 to 31 whereas the auction will begin from June 2.

Earlier, the top court directed for the auction to recover money the Sahara Group has to pay to market regulator Securities and Exchange Board of India (SEBI) for returning investors’ money that its two companies SIRECL and SHICL had raised in 2007 and 2008.

The Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) had raised Rs 24,000 crore through optionally fully convertible debentures.

The top court, by its August 31, 2012, order directed Sahara to refund this amount along with 15 per cent interest.

The group has already given a part of the money to SEBI, that is parked in the SEBI-Sahara Refund Account.

On August 10, 2017, the apex court declined the plea of Sahara chief Subrata Roy to put on hold the auction of Aamby Valley and allowed the liquidator to go ahead with the auction.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Congress approaches CJI for urgent hearing on Karnataka issue

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

After Karnataka Governor Vajubhai Vala on Wednesday invited BJP legislative party leader BS Yeddyurappa to form the new government in the state, the Congress approached Supreme Court Chief Justice Dipak Misra for an urgent hearing on the matter. The Congress urged Misra to hold an urgent hearing Wednesday night itself since Yeddyurappa is slated to take …

After Karnataka Governor Vajubhai Vala on Wednesday invited BJP legislative party leader BS Yeddyurappa to form the new government in the state, the Congress approached Supreme Court Chief Justice Dipak Misra for an urgent hearing on the matter.

The Congress urged Misra to hold an urgent hearing Wednesday night itself since Yeddyurappa is slated to take oath as chief minister at 9 am tomorrow.

Congress leader Abhishek Singhvi is the leading his party’s challenge.

“We have filed a petition before the Supreme Court and have urged the registrar to allow hearing on it tonight itself,” Singhvi told PTI, adding that immediate hearing has been sought as the matter is very serious.

The Congress termed the governor’s decision as “murder of democracy and trampling of Constitution”.

“We hope Governor will take the correct decision according to Constitution. If Congress-JD(S) combine is not called, it will be illegal. We hope politics will not trump legality and morality. If it does, we have no option but to move court,” Singhvi  told CNN News18.

The Congress said the Governor denigrated his office, trampled the Constitution and acted as a BJP puppet.

Karnataka Governor Vajubhai Vala has invited Yeddyurappa to take oath as Chief Minister on Thursday morning at the Raj Bhavan in Bengaluru.

With inputs from agencies.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?