Extortion racket within NCB: Minister Nawab Malik shares official’s letter

News Network
October 26, 2021

Mumbai, Oct 26: NCP chief spokesperson and Maharashtra’s minority affairs minister Nawab Malik on Tuesday shared a letter from an unnamed NCB official alleging fraud with the anti-drugs agency, firing yet another salvo at NCB’s Mumbai Zonal Director Sameer Wankhede. 

Malik, who said he is forwarding the letter to NCB DG SN Pradhan, urged the agency to look into 26 allegations in the letter claiming an "extortion racket" being run within the anti-drugs agency. 

In the letter, the unnamed officer, who claimed that he has been working in the Mumbai NCB bureau for the past two years, alleged that Rakesh Asthana directed Sameer Wankhede and K P S Malhotra to register fake cases against Bollowood stars and extract money from them. 

The officer alleged that Wankhede and Malhotra filed 'fake cases' against Deepika Padukone, Shraddha Kapoor, Rakul Preet Singh, Sara Ali Khan, Bharti Singh and others extracted crores of rupees via their lawyer.

"Here are the contents of the letter received by me from an unnamed NCB official. As a responsible citizen I will be forwarding this letter to DG Narcotics requesting him to include this letter in the investigation being conducted on Sameer Wankhede," Malik said in a tweet.

Malik has alleged collusion between the NCB and the BJP leaders in the drugs-on-cruise case in which Aryan Khan, superstar Shah Rukh Khan's son, has been identified as the accused number 1.

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News Network
November 30,2021

Allahabad, Nov 30: Sharjeel Imam's speech at the Aligarh Muslim University neither gave the call for anyone to bear arms nor incited any violence as a result of it, the Allahabad High Court has said granting him bail in a sedition case.

Justice Saumitra Dayal Singh granted bail on Saturday to Imam who was booked under sections 124A, 153A, 153B and 505(2) of the IPC at Civil Lines Police Station in Aligarh district of Uttar Pradesh.

"Having heard learned counsel for the parties and having perused the record, without referring to the exact allegation made against the applicant, it may be noted that on an undisputed basis neither the applicant called anyone to bear arms nor any violence was incited as a result of the speech delivered by the applicant," the judge said in the bail order.

"In view of the above, without expressing any opinion on the final merits of the case, let the applicant involved in the aforesaid crime be released on bail on his furnishing a personal bond of Rs 50,000 with two sureties of the like amount to the satisfaction of the court concerned," the judge said.

Imam was arrested on the false charge of making inflammatory speech at the Aligarh Muslim University (AMU) during the protests against the Citizenship (Amendment) Act.

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News Network
November 24,2021

New Delhi, Nov 24: Former RBI Governor Raghuram Rajan on Wednesday said of the 6,000-odd cryptocurrencies in existence today, only one or two, or at most, only a handful would survive.

In an interview with CNBC-TV18, the former RBI governor said, “If things have value only because they because they will be pricier down the line, that’s a bubble.” 

“A lot of cryptos have value only because there is a greater fool out there willing to buy.” He compared the current mania in cryptocurrencies to the tulip mania in the Netherlands in the 17th century.

“Cryptos may pose the same problem as unregulated chit funds which take money from people and go bust, a lot of people holding crypto assets are going to be aggrieved,” he said.

According to Rajan, it was not as if cryptocurrencies had no value at all, just that most of them did not have permanent value. Also, some of them would survive to provide payments, especially cross border payments.

Rajan was not alone in voicing concerns over cryptocurrency dealings in India. RBI Governor Shaktikanta Das recently has also issued warnings on cryptocurrency trading. Das in his address has opined for a strong and formal framework to regulate cryptocurrency dealings in India.  

The Centre is all set to introduce a Bill to regulate cryptocurrencies during the winter season of Parliament. A comprehensive Bill on the digital currencies is likely to be tabled for the Cabinet approval.  

Rajan also said, “In the US, crypto is a $2.5 trillion problem that nobody really wants to regulate,” adding that the problem was partly due to regulators not fully understanding this space and how to regulate it. What governments can insist on is getting information from crypto entities, when crypto entities get too big, government can examine them more closely to ensure there isn’t fraud. This is a situation where at best you can send warnings to the broader public,” he added. 

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News Network
November 24,2021

adaniGautam.jpg

New Delhi, Nov 24: Chairman of Adani Group, Gautam Adani, has replaced Reliance Industries Limited (RIL) chairman Mukesh Ambani to become the richest man in India and Asia for the first time ever. 

Currently, Adani Group operates a slew of companies including Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Transmission, Adani Total Gas, and Adani Power, among others.

Adani’s wealth has swelled up recently, especially after the onset of the pandemic. For instance, his total wealth stood at around $4.91 billion on March 18, 2020. As of now, his net wealth has touched nearly $90 billion - a rise of more than 1800%. 

On the other hand, Ambani’s net wealth has taken a slight hit after Reliance Industries scrapped the deal with Aramco, a Saudi Arabian public petroleum and natural gas company based in Dhahran. 

However, the change of fortune was expected to happen anytime soon. According to Bloomberg Billionaire Index, Adani’s wealth had stood at $88.8 billion on Tuesday (November 23). On the other hand, Ambani’s net wealth stood at $91 billion.  

But on Wednesday (November 24), shares of Reliance Industries Limited dropped by 1.77% while the shares jumped 2.34%, closing in on the difference between the net wealth of Adani and Ambani. 

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