M A I N   N E W S

Tehelka motives ‘under probe’

New Delhi, August 30
In a new twist in the war over Tehelka expose, the government today went on the offensive accusing the financiers of the news portal of indulging in “massive scale of operations” in the share market before the arms deal expose leading to its crash and loss of market capitalisation to the tune Rs 1,01,700 crore.

“Investors confidence in the capital market has shattered and benefits, if any, accruing from operation ‘Westend’ have been more than out-weighed by the loss inflicted on the economy of the country and resultantly on the economic and social fabric of the country,” the government said.

Appearing on behalf of the government before the Venkataswami Commission, probing the allegations of corruption in defence deals, Additional Solicitor General Kirit N. Rawal filed an affidavit which alleged that the market crashed as a result of Shankar Sharma, owner of First Global Stock Investing, who financed Tehelka’s associates in the aftermath of the expose.

“BSE Sensex fell by 227 points on March 13, 2001, (the day Tehelka tapes were made public) and by 604 points in next 30 days. Profits made by Mr Sharma and his associates is a matter under investigation,” Mr Rawal said.

The affidavit alleged that the motives behind tehelka.com “are not reflection on an honest journalistic endeavour” and added that the economic and other motives or interests of owners and associates of Tehelka’s financiers behind the market operations “were being probed”.

Giving details of the “activities and investments” of Mr Sharma’s First Global Stock Investing and his associates and their continuous supervision over the activities of tehelka.com, the affidavit talks about buying of shares of Buffalo Network (owners of Tehelka) by Mr Sharma and the subsequent operations.

The affidavit, filed in response to earlier order of the Commission, said as per the information gathered by the government, Mr Sharma bought 6,117 shares.

Buffalo Network at a premium of approximately Rs 5,700 per share and on the same day, he transferred 2,500 shares of Buffalo Network without any premium to Tehelka Managing-Editor Tarun Tejpal at par. PTI

Notice against Shourie referred to RS Chairman
Tribune News Service

New Delhi, August 30
Chandigarh Congress MP Pawan Kumar Bansal’s notice of breach of privilege against Disinvestment Minister Arun Shourie for referring the alleged “forged” letter of the Cabinet Secretary to the CBI was today referred to the Rajya Sabha Chairman.

Lok Sabha Speaker G.M.C. Balayogi, referred the notice to the Rajya Sabha Chairman as Mr Shourie belongs to that House.

The controversy relates to a letter produced by Congress member Priya Ranjan Dasmunshi in the Lok Sabha, which according to him was written by the Cabinet Secretary opposing disinvestment in Air India. The letter was challenged by Mr Shourie who claimed that it was “forged”, and subsequently referred to the CBI to prove its veracity.

Mr Balayogi referred to the laid down procedure in case where a member of one House was alleged to have committed a breach of privilege of the other House.

In terms of that procedure when a question of breach of privilege is raised in any House in which a member of the other House is involved, the presiding officer of the House in which question of privilege is raised has to refer the case to the presiding officer of the other House for appropriate action, he said.

Mr Bansal in his notice contended that since the letter was quoted in the House it formed part of the proceedings and the investigation with regard to its authenticity should have been referred to the Speaker instead of referring it to CBI for a probe.