Rafale: India, France ink IGA, to sort out 'financial aspects'

January 25, 2016

New Delhi, Jan 25: India and France today inked an Inter-Governmental Agreement (IGA) on the sale of 36 French fighter jets, Rafale, but were unable to sign the final deal due to some "financial" aspects, which are expected to be sorted out in "couple of days".

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This agreement was among the 14 pacts signed between the two countries after extensive talks between Prime Minister Narendra Modi and visiting French President Francois Hollande which focused ways to enhance cooperation in counter- terrorism, security and civil nuclear energy.

"...Leaving out financial aspect, India and France have signed Inter-Governmental Agreement on purchase of 36 Rafale fighter jets. We expect that even the financial aspects pertaining to purchase of Rafale jets will be resolved as soon as possible," Modi said at a joint press event with Hollande.

Terming the signing of the IGA as a "decisive" step, the French President said there are some financial issues that will be sorted out in "couple of days".

The two countries are in negotiations for 36 Rafale fighter jets in fly away conditions since the announcement for the deal was made by Modi in April during his visit to France.

However, the final deal is yet to be sealed as both sides are still negotiating the price which is estimated to be about Rs 60,000 crore. A high-level team from France is here and carrying out last minute negotiations.

Apart from defence cooperation, the talks between the two leaders primarily focused on ways to boost counter-terrorism cooperation in the aftermath of attack in Paris in November last and Pathankot terror strikes earlier this month.

"From Paris to Pathankot, we saw the gruesome face of the common challenge of terrorism...I also commend the strength of your resolve and action these terrorist attacks. President Hollande and I have agreed to scale up the range of our counter-terrorism cooperation in a manner that helps us to tangibly mitigate and reduce the threat of extremism and terrorism to our societies.

"We are also of the view that the global community needs to act decisively against those who provide safe havens to terrorists, who nurture them through finances, training and infrastructure support," Modi said.

The two countries reiterated their call for Pakistan to bring to justice their perpetrators and the perpetrators of the November 2008 terrorist attacks in Mumbai, which also caused the demise of two French citizens, and to ensure that such attacks do not recur in the future, a joint statement issued after the talks said.

"Daesh has attacked us. The ISIS is provoking us but we are determined to take the right decision. We will strike them time and again those who kill our children. I would like to thank you for the support in dire circumstances. France will never forget. We have decided to strengthen our cooperation against terror," Hollande said.

The two sides resolved to step up their joint effort to counter violent extremism and radicalisation, disrupt recruitment, terrorist movements and flow of Foreign Terrorist Fighters, stop sources of terrorist financing, dismantle terrorist infrastructure and prevent supply of arms to terrorists.

"To this end, they committed to further develop exchanges in the fields of intelligence, finance, justice and police. They welcomed the strengthening of the cooperation between Indian and French counter terrorism authorities and units, in particular between their cybersecurity experts," the joint statement said.

Stressing that terrorism cannot be justified under any circumstance, regardless of its motivation, wherever and by whomsoever it is committed, Modi and Hollande pitched for decisive actions to be taken against Lashkar-e-Tayibba (LeT), Jaish-e-Mohammad (JeM), Hizb-ul-Mujahideen, Haqqani Network and other terrorist groups such as Al Qaeda.

They also condemned the recent terror attacks in Pathankot and Gurdaspur in India.

On other issues which were discussed, Modi said, "From smart cities, locomotives, railway tracks and nuclear power. These are all foundations for building a new commercial partnership."

On his part, Hollande asserted that "There is no better trust than sharing civil nuclear technology" and hoped that the issues pertaining to the six reactors at Jaitapur nuclear plant will be settled in one year.

In pursuance of the 2008 civil nuclear pact, the two leaders encouraged their industrial companies to conclude techno-commercial negotiations by the end of 2016 for the construction of six nuclear power reactor units at Jaitapur the statement said.

The negotiations will consider cost viability of the project, economical financing from the French side, collaboration on transfer of technology and cost-effective localisation of manufacturing in India for large and critical components in accord with Government of India’s "Make in India" initiative.

"France acknowledged the need for India to have lifetime guarantee of fuel supply and renewed its commitment to reliable, uninterrupted and continued access to nuclear fuel supply throughout the entire lifetime of the plants, as stated in the 2008 bilateral IGA on nuclear cooperation.

"The two leaders agreed on a roadmap of cooperation to speed up discussions on the Jaitapur Nuclear Power Project in 2016. Their shared aim is to start the implementation of the project in early 2017.

"Both countries reaffirmed their commitment to responsible and sustainable development of civil nuclear energy with highest consideration to safety, security, non-proliferation and environmental protection," it said.

France and India underscored the contribution of nuclear energy to their energy security and to the fight against climate change.

France reaffirmed its strong and long standing support for India’s candidacy to the international export control regimes, particularly to the NSG and welcomed India's decision to ratify the Convention on Supplementary Compensation for Nuclear Damage, the statement said.

Describing his visit as "outstanding and exceptional", Hollande said it was an honour for France and him to be chief guest at the Republic Day.

"I commend the action of Modi at the climate change conference. I am aware Modi had potential reluctance at the COP 21. He wanted the innovation technology for developing countries to be spread. We owe it to, including Modi for what was achieved at the climate conference, the French President added.

Apart from inking IGA for purchase of Rafale jets, the two countries signed 13 agreements cutting across a wide variety of sectors including railways, culture, space, science and technology.

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News Network
April 20,2024

Union Finance Minister Nirmala Sitharaman, on Friday, said that the Bharatiya Janata Party (BJP) plans to reintroduce electoral bonds in some capacity following extensive consultations with all stakeholders, should it come back to power in the 2024 general elections, according to a report in the Hindustan Times (HT).

HT cited Nirmala Sitharam as saying, “We still have to do a lot of consultation with stakeholders and see what is it that we have to do to make or bring in a framework which will be acceptable to all, primarily retain the level of transparency and completely remove the possibility of black money entering into this.”

However, the Centre has not yet decided whether to seek a review of the ruling made by the Supreme Court (SC), she said.

She further added, “What the scheme, which has been just thrown out by the Supreme Court, brought in was transparency. What prevailed earlier was just free-for-all.”

Launched in 2018, electoral bonds were accessible for acquisition at any State Bank of India (SBI) branch. Contributions made through this programme by corporations and even foreign entities via Indian subsidiaries received full tax exemption, while the identities of the donors remained confidential, safeguarded by both the bank and the recipient political parties.

On February 15, a five-judge Constitution Bench struck down the scheme, deeming it ‘unconstitutional’ due to its complete anonymisation of contributions to political parties. Additionally, the Bench stated that the articulated objectives of curbing black money or illegal election financing did not warrant disproportionately infringing upon voters’ right to information.

FM Sitharaman said, some aspects of the scheme need improvement and they will be brought back following consultations.

She also lashed out at the Opposition’s claims that the BJP disregarded criminal charges against leaders who switched from other parties to join the ruling party.

The HT quoted her as saying, “The BJP can’t sit here and say, you come to my party today, and the case will be closed tomorrow. The case has to go through the courts that have to take a call; they will not just say, “Oh, he’s come to your party, close the case.” Doesn’t happen that way. So is this washing machine a term they want to use for the courts?”

She further said that the Union government plans to simplify the process of taxation and make it easy for investments to come through into the country.

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News Network
April 17,2024

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New Delhi: Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the ten years since 2014 compared to the preceding nine-year period, according to official data.

An analysis of the data by PTI for the last ten years, between April 2014 and March 2024, against the nine years from July 2005 to March 2014 presents a picture of the federal agency's "intensified" action under various sections of the Prevention of Money Laundering Act (PMLA).

The PMLA was enacted in 2002 and implemented from July 1, 2005, to check serious crimes of tax evasion, generation of black money and money laundering.

While the opposition parties have alleged that the ED's action during the last decade was part of the BJP-led central government's "oppressive" tactics against its rivals and others, the Union government and the ruling party have asserted that the agency is independent and its investigations were purely based on merit and under the mandate to act against the corrupt.

The ED booked as many as 5,155 PMLA cases during the last ten years as compared to a total of 1,797 complaints or Enforcement Case Information Reports (ECIRs or FIRs) filed during the preceding period (2005-14), a jump of about three times, the data said.

The data shows that the agency also got its first conviction starting the 2014 fiscal and it has, till now, got 63 persons punished under the anti-money laundering law.

The ED conducted 7,264 searches or raids in money laundering cases across the country during the 2014-2024 period as compared to just 84 in the preceding period - a jump of 86 times.

It also arrested a total of 755 people during the last decade and attached assets worth Rs 1,21,618 crore as compared to 29 arrests and Rs 5,086.43 crore worth of attachments respectively during the last compared period, the data stated.

The arrests are 26 times more, while figures related to the attachment of properties are 24 times higher.

The agency issued 1,971 provisional attachment orders for various types of immovable and movable assets during the last decade as compared to 311 such orders taken out in the preceding comparable period.

It got about 84 per cent of the attachment orders confirmed from the Adjudicating Authority of the PMLA during 2014-24 as compared to 68 per cent confirmations from the same authority during the last compared period.

The filing of charge sheets also saw a jump of 12 times in the last decade with 1,281 prosecution complaints filed by it before courts as against 102 during the preceding period.

The data said the ED secured conviction orders in 36 cases from various courts leading to the prosecution of 63 persons and a total of 73 charge sheets were disposed of during the last decade.

No conviction was obtained by the agency nor any charge sheet was disposed of under the anti-money laundering law during the 2005-14 period, according to the statistics.

The agency also got the court's permission to confiscate assets (attached as proceeds of crime under the PMLA) worth Rs 15,710.96 crore and it also restituted properties (including bank funds) of Rs 16,404.19 crore (out of the total amount under confiscation) during the last decade.

As there were no convictions during the preceding nine-year period, no confiscation of assets and resultant restitution could take place, as per the data.

The ED is also empowered to seize cash under the PMLA and the data said the agency froze more than Rs 2,310 crore worth of Indian and foreign currency during the last ten years as compared to a figure of Rs 43 lakh during the preceding period.

The agency also got notified a total of 24 Interpol red notices for apprehension of various accused who left India and hid in foreign shores and sent 43 extradition requests during 2014-24.

No such action was taken by the agency during the preceding period.

Four persons were extradited to India during the last ten-year time period while similar orders were secured against businessmen Vijay Mallya, Nirav Modi and Sanjay Bhandari. The three are based in the UK and the ED is trying to bring them back to the country as all the accused are contesting the orders issued against them.

"These statistics reflect the intensive drive that the ED has undertaken to check money laundering crimes," an agency official said.

The ED investigates financial crimes under two criminal laws -- the Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA) -- apart from the civil provisions of the Foreign Exchange Management Act (FEMA).

The FEOA was enacted by the Narendra Modi government in 2018 to cripple those who are charged with high-value economic frauds and abscond from the country to evade the law.

The ED, as per the data, filed a total of 19 such applications before the designated special PMLA courts in the country following which 12 persons have been declared fugitive economic offenders.

It also confiscated assets worth Rs 906 crore under the said law by the end of the last fiscal on March 31.

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News Network
April 16,2024

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New Delhi:  Twenty-nine Maoists, including a senior rebel leader - Shankar Rao, who had a bounty of ₹ 25 lakh on his head - were killed by security forces during an encounter in Chhattisgarh's Kanker district on Tuesday afternoon. A huge quantity of weapons, including Ak-47 and INSAS rifles, were recovered. 

Three security personnel were injured in the gunfight, which took place in forests near the village of Binagunda after a joint team of District Reserve Guard and Border Security Force were attacked.

Two of the three injured are from the BSF. Their condition is stable but the third - from the DRG - is in critical care. All three received treatment at a local hospital and are to be shifted to a larger facility.

Sources said the fighting began at around 2 PM, when a joint DRG-BSF team was conducting an anti-Maoist operation. The DRG was set up in in 2008 to combat Maoist activities in the state, and the Border Security Force has been deployed extensively in the area to for counter-insurgency ops.

There was another encounter in the district last month, in which two people - a Maoist and a cop - were killed, and security forces recovered a gun, some explosives, and other incriminating materials.

Personnel from the DRG and Bastar Fighters, both units of the state police force, with the Border Security Force, were involved in that operation, officials told news agency PTI. The patrolling team was cordoning off a forested area when fired on indiscriminately, leading to the gun battle.

In November last year, while the state was voting in the first phase of an Assembly election, a gunfight broke out between security forces and Maoist rebels in the same district.

An Ak-47 rifle was recovered from the encounter site.

On the same day, while polling was taking place, Maoists fired at DRG personnel deployed near a polling station in Banda in Dantewada district.

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