M A I N   N E W S

Mercantile Coop Bank MD arrested

Ahmedabad, April 26
The Managing Director of the city-based Madhavpura Mercantile Cooperative Bank and the main accused in the pay-order scam, Devendra Pandya, was arrested from his residence here today.

Gujarat Minister of State for Home Haren Pandya, told reporters that the Managing Director, who had been on the run since the scam was unearthed last month, was apprehended by sleuths of the CID’s economic offences cell from his residence in the satellite area of the city. Devendra allegedly diverted bank funds amounting Rs 1,030 crore to 19 companies.

He was arrested under sections 406, 409, 420, 120(B) of the IPC and Section 35 (21) of the Banking Regulation Act for allegedly cheating the depositors, the minister said. PTI

Mining lease restoration to MP stayed
Tribune News Service

Chandigarh, April 26
The Punjab and Haryana High Court today stayed the operation of orders issued by a Central Government tribunal restoring mining lease to BJP’s MP from Faridabad Mr Ram Chander Bainda.

The orders were issued by Mr Justice Jawahar Lal Gupta and Mr Justice N. K. Sud on a petition filed by the state of Haryana against the orders of the tribunal setting aside the lease termination orders.

In their petition, the state of Haryana had stated that the lease for mining in Bandhwari village in Gurgaon district was initially granted to the respondent for 10 years with effect from March 15, 1984. It was renewed for another 10 years on January 20, 1994.

The respondent, however, did not install a weighbridge in the leasehold area even though the same was mandatory under the rules. Following the failure to install the bridge, the state terminated the mining lease on July 13, 1999, counsel for the petitioner added. The orders terminating the lease were issued by the Bansi Lal regime after support was withdrawn by the BJP to the HVP Government.

Taking up the petition, the High Court issued notice of motion for May 24 and directed that the operation of the impugned order would remain stayed in the meantime.