L A T E S T      N E W S

FDI: Govt in touch with parties for support

NEW DELHI: Against the backdrop of the BSP and the SP keeping their cards close to their chest on voting in the Lok Sabha on a motion against FDI, the government on Wednesday said it was in touch with various parties for their support.

“We are in touch with all (parties). We have requested them to support us. FDI will not hurt the interests of farmers or small traders. In fact it will help them,” Minister of State for Parliamentary Affairs Rajiv Shulka told reporters outside Parliament House.

His remarks come hours before the Lok Sabha is to take up voting on a motion moved by Opposition parties against government’s decision allowing 51 per cent FDI in multi-brand retail.

While both the SP and the BSP had opposed FDI on Tuesday during a debate on the issue, they had not made it clear whether they will support the motion.

BJP leader Sushma Swaraj had asked the two parties to support the motion, saying their fears that the government could fall were unfounded. — PTI

Defiant IOA goes ahead with election despite IOC suspension

NEW DELHI: India's Olympic Association shrugged off its suspension from the IOC by pressing ahead on Wednesday with a vote to install the organiser of the scandal-plagued 2010 Commonwealth Games as its new head.

A day after the International Olympic Committee ordered the scrapping of Wednesday's internal elections in India, the national association insisted it had no option but to hold the polls in which the outcome is a formality.

Newspapers meanwhile lined up to condemn the IOA for "disgracing India" in its clash with the world governing body which means Indian athletes will not be able to compete in the Olympics under the national flag and see funding frozen.

The IOC announced the open-ended suspension on Tuesday after a meeting at its Swiss headquarters, saying the Indian federation had "failed to comply to the Olympic charter".

The "IOA is not entitled to hold any election until all pending issues are resolved," it added in a statement.

But the IOA's acting president Vijay Kumar Malhotra said the election process would continue, with the results expected to be announced on Wednesday evening.

Malhotra said the issue would be under discussion at the IOA's annual general meeting, which is also taking place in New Delhi on Wednesday.

"We had been ordered by the Delhi high court to follow the government's sports code in the elections and we have done that," Malhotra told reporters.

"We can't go against the law of the land."

The outcome is not in doubt, with Lalit Bhanot set to be elected unopposed as secretary-general even though he is currently on bail, facing corruption charges in connection with his organisation of the 2010 Commonwealth Games in New Delhi.

The IOC ethics commission had in October specifically warned the Indian body against allowing Bhanot to compete in the election which should also see his ally Abhey Singh Chautala take over as IOA president.

Bhanot was secretary-general of the organising committee for the 2010 games which were hit by venue delays, shoddy construction and budget overruns that saw the cost of the event triple to $6 billion.

The Indian media said the suspension could be a positive move to clean up the tainted sports administration.

"Golden day for Indian sports," said a headline in the Hindustan Times, which added "the suspension has provided us with a chance to clean up the mess the Indian Olympic Association is in." — AFP

Rajat Gupta to stay free pending appeal

New York: India-born former Goldman Sachs director Rajat Gupta won a major reprieve after an appeals court here granted his request to stay out of prison on a USD 10 million-bond while he fights his conviction on insider trading charges.

64-year-old Gupta, who was to begin his two-year prison term on January 8, had filed an appeal in the US Second Circuit Court of Appeals seeking stay of his surrender to prison and to remain free on a 10-million-dollar bond while he challenges his conviction.

A two-judge panel ruled in Gupta's favour at a hearing yesterday, saying "it is hereby ordered that the conditions of release imposed by the district court will be continued.

"Motion is granted," US Circuit Judge Jose Cabranes said in the ruling, allowing Gupta's motion to stay his surrender date and remain free on bond.

The court is expected to hear Gupta's appeal around April next year and it could be a year before his request to overturn his conviction is ruled upon.

SC scraps Sangma's plea against Prez

New Delhi: The Supreme Court on Wednesday dismissed PA Sangma's petition challenging election of Pranab Mukherjee as President of India.

A five-judge constitutional bench of the apex court ruled by 3 to 2 majority that Sangma's petition is not maintainable for regular hearing.

Sangma had moved the court demanding that Pranab Mukherjee’s election should be declared null and void as he had held an office of profit - chairman of Indian Statistical Institute - on the day he filed his nomination.

However, Pranab Mukherjee had rejected the claim and contented that he had resigned from his post before filing of nomination papers.