TheIndian EXPRESS LATE CITY, 16 PAGES, KOLKATA `5.00/EX-KOLKATA `6.00 (`12 IN NORTH EAST STATES & ANDAMAN) ● WEDNESDAY, JUNE 6, 2018 ● WWW.INDIANEXPRESS.COM DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE Nirav’s 5 dummy firms in Hong Kong whose owners earned Rs 8,000 got Rs 8,000 cr LoUs Data entry operator to diamond assorter among owners of firms, says ED complaint in PNB case KHUSHBOO NARAYAN MUMBAI, JUNE 5 WEST BENGAL P3 ● MAMATA DROPS THREE MINISTERS FROM CABINET ● ADHIKARI VOWS TO MAKE MALDA ‘OPPN-FREE’ BUSINESS AS USUAL BY UNNY OWNERS AND directors of at least five Hong Kong firms that allegedlyreceivedaboutRs8,270 crore from Letters of Undertaking (LoUs) issued by Punjab National Bank, on behalf of jeweller Nirav Modi, used to earn only between Rs 8,000 and ● TAMIL NADU GIRL WHO SCORED 93 PER CENT IN PLUS-2 KILLS SELF AFTER FAILING NEET, P7 SANDEEP SINGH A SHARP rise in outflow of funds byforeignportfolioinvestorsbetween April and May due to rise in yields of the US treasury and growing concerns over rising crude oil prices, and its impact on the currency and current accountdeficit,haveresultedinthe biggest outflow of foreign institutional money in any calendar year in the last 10 years. While the net FPI outflow in April stood at Rs 15,561 crore ($2.35 bn) and Rs 29,775 crore ($4.4 bn) in May, the aggregate for the first five months this year amounted to a net outflow of Rs 32,078 crore ($4.4 bn). This marks the highest outflow seen in any calendar year since2008,whenFPIspulledout a net of Rs 41,216 crore ($9.3 bn) from Indian markets amid a global financial crisis. The next big outflow was seen in 2016 when they pulled out a net of Rs 23,079 crore ($3.19 billion). However,theFPIoutflowthis year is very different from what it was 10 years ago. In 2018, only 5 per cent of the total outflows (Rs 1,599 crore) has been from equity markets and the remaining from the debt market. In 2008, the net outflow from equities was Rs 52,987 crore while the debt markets saw a net inflow of Rs 11,772 crore. According to experts, this is a significant reason why Indian equities have held their ground despite a sharp outflow of foreign institutional money over the last two months. The other major factor is the sharp rise in domestic retail participation in Indian equities through the CONTINUED ON PAGE 2 Rafale deal on CAG radar, GSTN too RAVISH TIWARI NEW DELHI, JUNE 5 THERAFALEfighterdealisonthe radar of the Comptroller and Auditor General, a source in the national auditor said Tuesday. Also under scrutiny is the Goods andServicesTaxNetwork(GSTN) that provides the IT backbone of the GST system. “The Rafale deal has to be au- 13 WORLD 9 IRAN EXPANDS NUKE SITE TO ENRICH MORE URANIUM THEIDEASPAGE Four years of hubris People now know that the government has only marginally built on the legacy of Cong-led governments He created over 15 dummy companies, says ED of five such firms — Brilliant Diamonds Ltd, Eternal Diamond Corp Ltd, Fancy Creation Co Ltd, Sino Traders Ltd and Auragem Company Ltd — were actually junior employees and ex-employeesof Modi’sFirestarGroup. Identifying some of these persons,theEDstatedinitscomplaint: ■ Bhavik Shah, a former diamond assorter for Firestar International,wasnamedthedirector of Hong Kong-based BrilliantDiamonds.Shahusedto earn Rs 10,478 as salary every Political row over deal dited by the CAG. For us, it is a routine audit,” the source said of the fighter deal with the French fortheIAF— thedealhasbeenat the centre of a political row with the Opposition Congress alleging that the NDA government paid much more than what Dassault Aviation, the Rafale manufacturer, had quoted earlier when the UPA was in power. “WehavetodotheRafaleaudit like any high value transaction needs to be audited,” the source said, but did not spell out CONTINUED ON PAGE 2 ANANTHAKRISHNAN G NEW DELHI, JUNE 5 At the site of the Jaguar fighter crash that killed Air Commodore Sanjay Chauhan near Mudra, Kutch on Tuesday. PTI Air Commodore killed as Jaguar crashes in Kutch EXPRESS NEWS SERVICE RAJKOT, JUNE 5 AN AIR COMMODORE was killed asaJaguarfighterjetoftheIndian Air Force (IAF) crashed at Beraja village in Mundra taluka of Gujarat’s Kutch district on Tuesday.Policesaidacattleherder sustainedinjuriesashewashitby falling debris of the plane. Defence spokesperson in Ahmedabad, Lieutenant Colonel Manish Ojha, said the fighter jet had taken off from Jamnagar airbase for a routine training sortie before crashing near Beraja vil- lage around 10.30 am. “Today morning, a Jaguar aircraft on a routine training mission from Jamnagar crashed around 10.30 hours. The pilot, air commodore Sanjay Chauhan, sustained fatal injuriesduringthecrash,”Colonel Ojha said in a press release. Chauhan was a recipient of the Vayu Sena Medal and the Air Officer Commanding of Jamnagar Air Force Station. Commissioned in fighter stream of theIAFonDecember16,1989, he was a Qualified Flying InstructorandExperimentalTest Pilot with over 3,800 hours of service flying, officials said. Incitement to violence, TMC worker shot propaganda on social dead in Howrah, party media akin to waging trades barbs with BJP war against Govt: HC EXPRESS NEWS SERVICE SOFI AHSAN CHANDIGARH, JUNE 5 DECLINING BAIL to an alleged member of terror group Babbar Khalsa International, the Punjab andHaryanaHighCourthasheld thatpropagandaandincitement to violence on social media is equivalent to collecting men for waging war against the Government of India, as defined under IPC section 122. The High Court made this observation while ruling against the bail plea of Arvinder Singh, a resident of Pallian Khurd in Nawanshahr, who was arrested inMay2016.TheFIRagainsthim said he had arrived from Doha in Qatar seven-eight months earlier, and was recruiting youth for “terrorist activities”. The FIR stated Arvinder had been in touch with PakistanbasedBKIactivistswhileinDoha where he had gone for employment in 2011. OrderingthetrialcourttodecideArvinder’scasewithinthree months,JusticeSudipAhluwalia, in his June 1 order, observed that though the accused had not been charged under IPC section 122(collectingarms,etcwithintention of waging war against CONTINUED ON PAGE 2 KOLKATA, MAY 5 A TRINAMOOL Congress leader was shot dead by miscreants in Howrah on Monday night — the latest incident in a spate of political violence across the state. Confirming the murder, Commissioner (Howrah) D P Singh told The Indian Express, “So far, two have been arrested. Probe is on.” The deceased has been identifiedasMdMohsinKhan,aTMC booth-level secretary in Bagnan area. Sources said Khan was returninghomewhenmotorcycleborne miscreants shot him at point-blank range in Haturia vil- lage, near his house. Following the incident, TMC activists blocked NH-6 and vandalised shops, demanding the immediate arrest of the accused. One of Khan’sfamilymembershadfiled an FIR, on the basis of which police initiated a probe. “It was around 9 pm when some miscreants opened fire at him.Hewasshotinthethestomach and died on the spot. The miscreantsfled,”alocalbusinessman said. The TMC has accused the BJP of killing Khan, while the BJPclaimedtheallegationwasan attempt to malign its image. “He has been killed by a BJP leader,” alleged local TMC leader Srikanta Sarkar. CONTINUED ON PAGE 2 FENCED IN BY DOUBT, SHILLONG’S PUNJABI LANE HOPES FOR A CLEAN BREAK FROM THE PAST SHILLONG, JUNE 5 “FOR ALL of us living in Punjabi Lane, our Punjabi identity is the foremost thing, rather than a religious identity. Ever since troublestartedinthisarea,wearetogether with our Sikh brothers,” says Sonu Chadha, a Christian Punjabi, as his friend ties a turban on him and they rush to the gurdwara to listen to a visiting Sikh leader from Punjab. The gurdwara is located on the second floor of a school building, a church stands next to it, while a few metres away is a temple where space is also kept CONTINUED ON PAGE 2 aside for followers of a sub-sect of Sikhism called Udasi. However, it is this strong regional identity uniting residents of Punjabi Lane, overarchingotherdifferences,thatmakes its divide with the city’s majority Khasi population sharper. Sinceclasheseruptedfollowing an altercation between a Khasi bus driver and a woman from the Punjabi Lane on May 30, the locality next to Shillong’s commercial hub and its largest traditional market place of Iewduh,orBaraBazaar,hasbeen under almost continuous curfew, except for seven hours on June 3. Security personnel chase away anyone trying to enter Quota in job promotions not barred till we decide: SC Appointments will be subject to final order on petitions before us: Bench ● PAGE ONE ANCHOR ABHISHEK SAHA month as director of Brilliant Diamonds, which did business worth Rs 959 crore with Firestar International in 2015-16. ■ Ashish Bagaria, a former data entry operator of Firestar India, was made the director of Eternal Diamond Corp at a monthly salary of Rs 8,133. EternalDiamondexecutedtransactions worth Rs 929 crore with Biggest outflow of foreign institutional money in 10 years NEW DELHI, JUNE 5 INSIDE Rs 30,000 every month, according to the Enforcement Directorate. Referring to these findings in its prosecution complaint filed in the PNB scam case, the ED has said that Modi created over 15 “dummy companies” overseas to allegedly rotate the LoU funds “in the guise of export-import transactions”. It claimed that the directors SC/ST GOVT EMPLOYEES Punjabi Lane in Shillong on Tuesday. Abhishek Saha Punjabi Lane, or those trying to get out despite curfew. On Monday morning, a group of anxious men sat outside their homes discussing the stone-pelting and teargas shelling that had been on all nighttill5am.Inthemidstof her householdchores,NishaKaur,in her mid-20s and a mother of two, says, “Life in Punjabi Lane is fine but there have been worries since the violence began.” The original settlers in Punjabi Lane were Sikh Dalits brought here by the British to work as scavengers and sweepers. Himadri Banerjee, former professor of Indian history at CONTINUED ON PAGE 2 Speaking to The Indian Express,ColonelOjhasaidtheAir Commodore was flying the plane alone. “He was on a routine training mission when the plane crashed. No information on the cause of the crash is availableasyet.ACourtof Inquiryhas been ordered to investigate as to what led to the crash,” he said. “The burning debris of the plane fell in an open field. A few cows grazing in the area were burnt to death. A cattle herder sustainedminorinjuries,”saidM S Bharada, SP, Kutch (west). “We havecordonedoff thecrashsite.” WITH PTI INPUTS AMID A raging debate on the issue of reservation in promotions, the Supreme Court Tuesdaysaidthegovernment“is not debarred from making promotions in accordance with law”, but “subject to further orders” and “pending further consideration of the matter”. Legal experts said what this essentiallymeansisthatthegovernment can extend reservation to promotions as envisaged by the Constitution, but this has to bestrictlyinaccordancewiththe lawasitstandsnow.Andthelaw that currently holds is the 2006 judgment of the Supreme Court in M Nagaraj & Others vs Union of India. That order upheld the validity of Article 16 (4A) — a special provision which provides for reservation for promotion only to SCs and STs — and said the government can provide reservation in promotionsprovidedit is backed by compelling reasons like proof of backwardness and inadequacy of representation and ensure that it does not affect the overall efficiency of administration. AspertheorderTuesday,any such appointment will also be subject to the final outcome of petitions which have raised the 8 THEEDITORIAL PAGE question and are pending before the apex court. The bench of Justices A K Goel and Ashok Bhushan was hearing the Centre’s plea in connection with an order of the Delhi High Court which, in August2017,struckdowna1997 circular, issued by the Department of Personnel and Training, extending reservation in promotion to SC and ST employees beyond the five years stipulated by the apex court in thelandmark1992judgmenton Indira Sawhney vs Union of India. The High Court had said that this was not supported by any quantifiable data to prove conditions of backwardness etc. Appearing for the Centre in the Supreme Court, Additional Solicitor General Maninder Singh submitted that the entire process of promotion had come to a “standstill” due to orders of various High Courts on the matter and that the apex court too had ordered status quo in one of them. He pointed out that there were separate verdicts by the High Courts of Delhi, Bombay and Punjab and Haryana on the issueof reservationinpromotion to SC/ST employees. “How is promotion taking place as of now,” the bench asked. To this, the ASG replied, “Theyarenot.Itisallatstandstill. This is the problem... I am the CONTINUED ON PAGE 2 The Shangri-La moment BY PRATAP BHANU MEHTA
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.