TheIndian EXPRESS LATE CITY, 16 PAGES, JAIPUR, `4.00 ● WEDNESDAY, FEBRUARY 7, 2018 ● WWW.INDIANEXPRESS.COM DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE SINKS 1275 PTS AFTER WORST DOW LOSS, STAGES RECOVERY LATER Global crash sends Sensex plunging, Rs 2.7 lakh crore wiped out in a day Fall not due to new capital gains tax: Finance Secy ENS ECONOMIC BUREAU MUMBAI, FEBRUARY 6 B-SCHOOLS IN MUMBAI Panel wraps up inquiry against Orissa HC judges SUSHANT SINGH NEW DELHI, FEBRUARY 6 THEIN-HOUSEinquirycommittee instituted by the then Chief Justice of India (CJI) in 2016 to probeallegationsof wrongdoing against two sitting judges of Orissa High Court completed its hearings last week and is expected to submit its final report to the CJI by the end of this month. Sources told The Indian Express thatthereportislikelyto indict the two judges based on documented evidence against themavailablewiththecommittee. The three-member probe panel is headed by Chief Justice of Punjab and Haryana High Court Justice S J Vazifdar. The enquiry under the inhouseprocedureagainstJustices Indrajit Mahanty and S K Sahoo of OrissaHighCourtwasordered by the then CJI T S Thakur after receiving a complaint from RTI activist Jayanta Kumar Das in September 2016. The probe panel had its final hearing at Haryana Bhawan in Delhi on February 2 when each of the two accused judges presented their side to the probe panel. On February 1, the panel heard complainant Das from Puri prison via video conferencing. A Puri court had sentenced Das in August 2017 to six years of imprisonment for creating fake online email ID and profile and posting them on a pornographic website. Allegations against Justice Mahantypertaintohavingacted in violation of the code of conduct for a judge by owning a hotel in Cuttack, constructing a five-storeyed building with a sanction for only three stories and passing orders against employment of women in bars which involved a conflict of interest. CONTINUED ON PAGE 2 BUSINESS AS USUAL BY UNNY STOCK MARKETS in India and across the world tumbled Tuesday after steep losses on Wall Street slashed the Dow Jones industrial average by 4.6 per cent, its biggest loss in sixand-half years. As the Sensex sunk by 1,275 points at one stage, amid lingeringconcernsovertheRBI’smonetary policy to be announced Wednesday, an estimated Rs 2.7 lakh crore of wealth was wiped out in the day’s session. The benchmark managed to recover partially and close with a loss of 561 points at 34,195.94. As investors fretted over rising bond yields and the interest rate hike in the US, the Dow suffered its worst fall by points in history,wipingoutallof itsgains this year. “While the concern over the LTCG (long-term capital gains) tax continues, the correction on Tuesday was driven more by a spike in global bond yields,” said Vaibhav Agrawal, head of research, Angel Broking. “There were precautionary calls for early margins but that was more a measure of caution and there was no trace of panic in the market,” he said. Opening on a weak note, the Sensex plunged below the key 8 THEEDITORIAL PAGE ENS ECONOMIC BUREAU NEW DELHI, FEBRUARY 6 DECODING BUDGET AT ADDA Rajiv Kumar, NITI Aayog Vice-Chairman , with The Indian Express National Editor (Policy) Shaji Vikraman and National Bureau Chief Ravish Tiwari in Mumbai, Tuesday. Prashant Nadkar Monetary policy today THERBI’sMonetaryPolicy, which will be announced Wednesday,isexpectedto keep key policy rates unchanged. But the central bank is likely to flag the risk of higher MSP and slowerfiscalconsolidation as a medium-term risk to inflation. Why India must act now in Maldives By MOHAMED NASHEED Militants kill two cops in Srinagar hospital, free LeT commander Policemen stand guard outside an operation theatre at the SMS Hospital in Srinagar. Shuaib Masoodi NAVEED IQBAL SRINAGAR, FEBRUARY 6 TWO POLICEMEN were killed at Srinagar’s Shri Maharaja Singh Hospital Tuesday after militants opened fire on a police team accompanying detainees from Srinagar’s Central Jail to the hospital for a medical check up, police said. A top Lashkar-e-Toiba (LeT) militant commander NaveedJataliasAbuHanzullaescaped from police custody during the attack. DirectorGeneral,Jammuand Kashmir Police, SP Vaid told The Indian Express: “At least two or three militants were involved in the incident. We are maintaining high alert and we will go af- terthemtillweneutralisethem.” The police officers killed were identified as Head ConstableMushtaqAhmadfrom Kupwara in North Kashmir and Constable Babar Ahmad from Anantnag in the South. Jat, a resident of Chak No 421, district Vehari in Pakistan’s Multan was arrested in Kulgam in 2014 and was then LeT’s district commander and a close associate of Abu Qasim and Abu Dujana-bothLeTKashmirchiefs - who were subsequently killed by security forces. Accordingtowitnessesatthe hospital Tuesday, the police partywasfireduponfrominside the hospital as they approached the door of OPD Block A at CONTINUED ON PAGE 2 34,000-mark in the morning session while the NSE Nifty plunged 390 points within minutesof opening.However,valuebuyingemergedatseveralcounters during the late afternoon session.TheSensexfinallyended at 34,195.94, down 561.22 points, or 1.61 per cent. The 50-share NSE Nifty also closedlowerby168.30points,or 1.58 per cent, at 10,498.25. The Nifty at one stage touched a low of 10,276.30 and a high of 10,594.15. CONTINUED ON PAGE 2 THE CONTINUING fall in stock markets is linked to a global selloff andnotthelevyof LongTerm Capital Gains (LTCG) tax, which was reintroduced in this Budget after a gap of 14 years, according to Finance Secretary Hasmukh Adhia. Adhiaalsosaidthatitwasnot a good idea to leave one class of assets completely out of the tax net as that would lead to people parkingfundsintheassetwhere there is no tax incidence. Speaking at a post-Budget meet held by PHD Chamber of Commerce and Industry Tuesday, the Finance Secretary warned that rise in asset valuations not backed by fundamentals is a potential risk for investors, particularly small investors. “If youexemptanyoneoutof the 4-5 classes of investments completely out of taxation, then it is very much possible that CONTINUED ON PAGE 2 Maldives crisis: ex-President Nasheed seeks India’s help SHUBHAJIT ROY NEW DELHI, FEBRUARY 6 LESSTHAN20hoursafterembattled Maldives President Abdulla Yameen imposed a “state of emergency”for15days,plunging the island nation into deep crisis, India on Tuesday said it was disturbed by the declaration of emergency and termed the arrests of Supreme Court Chief JusticeAbdullaSaeedandformer President Maumoon Abdul Gayoomas“reasonsforconcern”. In a strongly-worded statement on Tuesday evening, the Ministry of External Affairs said, “We are disturbed by the declaration of a state of emergency in Maldives, following the refusal of the government to abide by the unanimous ruling of the full bench of the Supreme Court on February 1, and also by the sus- UNNAO, FEBRUARY 6 ATLEAST38havetestedpositive for HIV in Uttar Pradesh’s Unnao over the last 10 months after a fake doctor used a single syringe totreathispatients,UPhealthofficials said Tuesday. The state government has registered a case against the fake doctor, Rajendra Kumar, and has intensified efforts to arrest him. Unnao Chief Medical Officer (CMO), Dr SP Chaudhary said a probewasorderedafternoticing Many senior to Uttarakhand CJ, say officials; he quashed President’s rule RAVISH TIWARI NEW DELHI, FEBRUARY 6 UTTARAKHAND HIGH Court Chief Justice K M Joseph’s elevation to the Supreme Court was recommendedbytheCollegium almost a month ago. But The Indian Express has learnt that the government, citing “disregard for seniority and regional representation”, may consider returning the recommendation for “reconsideration” by the Collegium. Incidentally, it was a bench headed by Chief Justice Joseph which, in April 2016, left the Centre red-faced when it quashed imposition of President’s rule in Uttarakhand and revived the Congress governmentof HarishRawat,directing him to prove his majority on Chief Justice K M Joseph the floor of the House. On January 10 this year, the five-member Collegium, comprising Chief Justice of India Dipak Misra and Justices J Chelameswar, Ranjan Gogoi, Madan B Lokur and Kurian Joseph, recommended Chief Justice Joseph’s elevation to the Supreme Court. It also approved the name of Senior Advocate Indu Malhotra for appointment as a judge of the Supreme Court — the first woman lawyer to be directlyelevatedtotheSupreme Court from the Bar. CONTINUED ON PAGE 2 Express Investigations Editor gets prestigious IPI India 2017 award Former president Abdul Gayoom under custody in Male. AP pension of constitutional rights of the people of Maldives. The arrest of the Supreme Court Chief Justiceandpolitical figures are also reasons for concern.” It added that the Indian gov- ernment continues to “carefully monitor” the situation in Maldives. The statement came hours after former Maldives President CONTINUED ON PAGE 2 Unnao: 38 turn HIV positive after fake doctor uses single syringe MAULSHREE SETH Govt weighs option of asking Collegium to rethink elevation of HC judge to SC a spike in HIV cases between April and November, 2017. “Duringaroutinescreeningfrom ApriltoJuly,12HIVpositivecases were reported from Bangarmau tehsil alone. During another screening in November, another 13 cases were reported from the same place,” he said. He said the investigation revealed that Kumar, had used a singlesyringeforinjectioninthe name of cheaper treatment. In Bangarmau’s villages, wheretheelderly,teenagersand children are still trying to understand that the reason for all the screening camps. Locals said Kumar charged Rs 10 for his “injection” and that he would visit each house on his cycle. All patients who tested positive for HIV have been referred to Kanpur for Anti-retroviral Therapy (ART). Kumar treated at least 50 people a day with the same injection, cleaning it with plain water, before injecting the next patient, locals told The Indian Express. According to villagers, his “treatment” was cheaper thanthemedicineprescribedby CONTINUED ON PAGE 2 EXPRESS NEWS SERVICE NEW DELHI, FEBRUARY 6 THE PRESTIGIOUS IPI India Award for Excellence in Journalism, 2017 has been awarded to Ritu Sarin, Executive Editor (Investigations) of The Indian Express, for outstanding workininvestigativejournalism during her career. This is the fourth IPI India award for The IndianExpressanditsjournalists. The award, comprising a trophy, citation and cash prize of Rs 2 lakh, will be presented to Sarin by Justice R M Lodha, former Chief Justice of India, at a functioninNewDelhionFebruary23, theInternationalPressInstituteIndiaChapterco-coordinatorKS Sachidananda Murthy said in a press release Tuesday. Sarin has been selected for her “sustained work in investigation of crimes, political assassinations,terrorismcases,frauds and economic offences during her journalistic career, including leading The Indian Express investigation team into the Indian accounts and account-holders mentioned in Panama Papers Ritu Sarin led the Express team on Panama Papers during 2016”. The Indian Express, in collaboration with the International Consortium of Investigative Journalists, had reported on Indians named in the Panama Papers, a trove of 11.5 million documents pertaining to 214,488 offshore entities linked to Panama-based law firm Mossack Fonseca. The team, comprising Sarin, National Affairs Editor P VaidyanathanIyerandAssociate Editor Jay Mazoomdaar, spent eight months investigating over 500Indiansnamedintheleaked CONTINUED ON PAGE 2 ● PAGE ONE ANCHOR NOT FAIR TO OTHERS: DRAVID QUESTIONS HIS U-19 CASH REWARD DEVENDRA PANDEY MUMBAI, FEBRUARY 6 THE INDIAN Under-19 team has won its fourth World Cup and its 2018 run made it the most successful U-19 team in the world. Team Coach Rahul Dravid couldn’t be happier, but he has a question for the BCCI: Why the disparity in cash prizes between him, his support staff and the winning squad? The BCCI has announced awards of Rs 50 lakh for Dravid, Rs 20 lakh each for the support staffandRs30lakhfortheplayers. It is learnt that Dravid was unhappy that he was to receive prize money far greater than the restof hiscoachingstaff.Sources said the head coach has expressed his reservations and has requested that all support staff members be rewarded evenly. It is learnt that Dravid has underscored the importance of no discrimination against the other members of the coaching staff. Sources also said that Dravid has mentioned that the entire support staff had worked as a team, and had played an equal and united part in ensuring success at the U-19 World Cup in New Zealand. In a press release announced by BCCI’s Supreme Court-appointed Committee of Administrators on February 3, theBoardhadallottedRs50lakh to Dravid, while declaring that the rest of the support staff BowlingcoachParasMhambrey, Fielding coach Abhay Sharma, Physiotherapist Yogesh Parmar, Trainer Anand Date, Masseur Mangesh Gaikwad and Video analystDevrajRaut-wouldeach receive Rs 20 lakh. The playing team members were also to be rewarded Rs 30 lakh each. Addressing a press confer- The Under-19 team with coach Rahul Dravid in Mumbai on Monday.Vignesh Krishnamoorthy ence on returning from New Zealand, after the win on Saturday, Dravid had said he credited the success of the team to the entire support staff which had worked hard behind the scenes. He had gently pointed out the disparity. After the world title triumph at New Zealand on Saturday, Dravid had acknowledged the role of support staff. “It’s a bit embarrassing at times because I tend to get a lot of attention and focus, but it is really about the support staff and the quality of people that we’ve had. I don’t want to mention names but Jaipur everyoneinthesupportstaff has put in a great effort. We do the best for the kids.” Dravid was at the centre of a conflictofinterestsituationatthe startofhisstintasin2017,andhad subsequently chosen national duty over an IPL coaching contract.HereceivesRs4croreannuallyfora3-year-contractwiththe Indian junior and A teams. The remaining support staff too works on contracted BCCI payrolls. Dravid though, has insisted that everyone had an equal part to play in the victorious fortnight and months of preparations prior to that.
Indian Express Limited is an Indian news media publishing company. It publishes several widely circulated dailies, including The Indian Express and The Financial Express in English, the Loksatta in Marathi and the Jansatta in Hindi.