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Major News and Events of 11 October 2013

What Happened on 11 October 2013

Anticipatory bail filed by Narayan Sai


Narayan Sai, son of self made godman Asaram Bapu filed an anticipatory bail in the Surat session court this Friday. Sai is wanted by the police in a rape case. Hearing on the bail plea will be done by the court on Tuesday. FIR against Asaram and his son was filed by the two sisters from Surat. They have been charged of raping these two sisters a decade back. Jehangirpura police stations had registered the FIR and since then Sai has been absconding. Gautam Desai, Sai’s lawyer has said that an anticipatory bail has been filed on which court’s hearing will be held on Monday or Tuesday. On the other hand Surat police is looking for Sai since the registration of FIR. They are saying that notice has been served to him but Sai did not appear before them. His anticipatory bail will be legally contested. All the investigations are going on in right direction. This has been said by Surat Police Commissioner Rakesh Asthana. Surprisingly Gujarat High Court has received petitions by Sai and Asaram to nullify the FIR registered against them.

A government of the youth – Remarks Rahul Gandhi


Rahul Gandhi’s recent remarks "government of the youth" is coming to power in 2014 at a rally in Uttar Pradesh has again caused a stir among the party. Now everyone is projecting him as a prime minister candidate in the parliamentary elections next year. Congress spokesperson PC Chacko said that every Congressman wishes Rahul Gandhi to take up the reins of administration after the 2014 elections. Delhi CM Sheila Dikshit while giving an interview to a TV channel has said that she is not sure if Rahul Gandhi would like to become prime minister of India but young people for sure want him to pay much bigger role than what he is playing. Home Minister Sushil Kumar Shinde has also said that Rahul Gandhi has rightly said that the next government will be of youth. He added that all the party members want to see him as the next prime minister. Rahul Gandhi in his Rampur rally said that in 2014, a government of the youth will be formed, which will change the country. The change will be brought as even the last man in the queue will be empowered.

Yuvraj Singh calls Sachin's retirement an emotional time


Yuvraj Singh scored an unbeaten 77 against Australia in one-off T20 International match, but what makes him emotional is the retirement of Sachin Tendulkar from Test Cricket. Yuvraj dedicated his unbeaten innings to Tendulkar who has declared his retirement after playing his 200th match against the West Indies next month. Yuvraj has also dedicated his scores to his mother who was praying for his comeback. At the post match conference, Yuvraj said that he is happy because he hit the ball and sad because Sachin is retiring. He called Sachin’s retirement an emotional moment for the entire country and never wanted to see him going and leaving the game. Sachin is of the greatest players in the team and playing with him has been an amazing experience for every cricketer. He called Sachin an ambassador of cricket around the world. He is not sure if he will be selected to play the match but if not then he will come to see the match. Yuvraj also said that Sachin’s decision of taking retirement must be respected. He even called Sachin as a God’s gift to India.  

SEBI plans for companies on implementing disclosures


Companies that make disclosures in stock exchange need to stick to it. The Securities and Exchange Board of India (SEBI) is making such a kind of plan because companies generally make announcements but fail when actual implementation comes into picture. As per UK Sinha, Chairman of SEBI, things will be made more difficult just for timely disclosures and their quality. These regulations will soon be issued by SEBI. To check the quality of corporate disclosures a forensic accounting cell within SEBI has been set up. Before telling to media, companies now have to inform the stock exchange first about the information that can affect their stock price. He also said that information-based frauds are difficult to detect. There are examples showing companies either not disclosing information or providing incorrect information. The Securities and Exchange Board of India also announced the draft regulations on Real Estate Investment Trusts (REITs). This has been done for the higher capital inflow. The minimum investment has been kept Rs 2 lakh and initially just HNIs and institutions can invest through REIT. This move has been welcomed by real estate players.

Economy may grow by 5-5.5% in 2013-14 - Finance Minister P Chidambaram


Finance Minister P Chidambaram said that economy of the country is expected to grow by 5 to 5.5 per cent in the current financial year. This will happen because of better monsoon, great farm output, and as a result of reforms undertaken by the government. These measures will impact the economy of India that will grow by 5 to 5.5 % in 2013-14. He said this while addressing the Carnegie Endowment for International Peace, an eminent US think-tank. He also said that the World Economic Outlook report (of the IMF) won’t feel the same about the economy growth of India but on the other hand Chidambaram is confident enough and said that we do not share the pessimism of IMF. Chidambaram said this while accentuating the six main fundamentals of the Indian economy, including, financial system, skilled manpower, and strong corporate. Though growth rate of 5% looks promising against present global economic background but it is slower than what we have set for ourselves in 2004. He said that financial system of India is getting better and stronger with each passing year. The Minister also said that investors have to work within the policy framework. For some the policy may not be perfect but this is the only policy we have at present and one must work according to that. Though growth of India slowed down during crisis period in 2008-09 but we had rebounded quickly with growth rates of 8.6 per cent and 9.3 per cent in 2009-10 and 2010-11, respectively.

Amitabh Bachchan on his 71st birthday, wishes to do more challenging roles


Wish to do something challenging everyday is what megastar Amitabh Bachchan wanted as he turned 71 today. In his career of more than four decades, the actor has done more than 150 films and still entertaining his millions of fans both on big screen as well as TV. But wishes from her granddaughter Aaradhya were very emotional for the actor. He also said that he will continue working till there is strength in his body. He said this while launching a charitable scheme in the name of his father Harivansh Rai Bachchan. Under this scheme, solar panels will provide free electricity to 3,000 families. Thousands of fans came to greet Big B outside his residence.

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