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<ul><li>They were suspended from the party's primary membership last month over their alleged involvement in a "conspiracy" to topple the <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> government in the state.</li><li>The decision to revoke the suspension of the two MLAs follows a patch-up between <keyword id="49103" type="PERSON" weightage="20" keywordseo="Ashok-Gehlot">Ashok Gehlot</keyword> and his sacked deputy <keyword id="71345" type="PERSON" weightage="20" keywordseo="Sachin-Pilot">Sachin Pilot</keyword> after the intervention of the party's top leadership in Delhi. </li></ul> The Congress on Thursday revoked the suspension of <keyword id="9590688" type="UNKNOWN" weightage="20" keywordseo="bhanwarlal-sharma">Bhanwarlal Sharma</keyword> and Vishvendra Singh, two MLAs who had rebelled against the Ashok Gehlot government in Rajasthan. They were suspended from the party's primary membership last month over their alleged involvement in a "conspiracy" to topple the Congress government in the state. The decision to revoke the suspension of the two MLAs follows a patch-up between Ashok Gehlot and his sacked deputy Sachin Pilot after the intervention of the party's top leadership in Delhi. "After a consultative discussion, the suspension of @INCRajasthan MLA Sh. Bhanwarlal Sharma Ji and Sh. @vishvendrabtp ji is hereby revoked," AICC general secretary Avinash Pande tweeted. The Congress had taken action against them on July 17 after three audio tapes allegedly pertaining to the conspiracy to topple the government surfaced. Both the MLAs were issued show cause notices. Prior to this, Singh was also sacked from the Ashok Gehlot cabinet along with Pilot and Ramesh Meena on July 14, in a disciplinary action after they failed to attend CLP meetings. Singh held the portfolio of the tourism whereas Pilot was deputy CM and Ramesh Meena was food and civil supply minister. The revolt by Pilot and 18 dissident MLAs led to a political crisis in the state. After the party high command intervened in the matter on Monday, the MLAs returned to Jaipur. The chief minister has called a meeting of the Congress Legislature Party at his residence on Thursday at 5 pm, a day before the state assembly session is scheduled to begin. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/trump-was-rushed-from-the-briefing-room-by-secret-service-after-a-shooting-outside-of-the-white-house/articleshow/77474005.cms">Trump was rushed from the briefing room by Secret Service after a shooting outside the White House</a> <a href="https://www.businessinsider.in/careers/news/mckinsey-facebook-amazon-nokia-and-some-other-companies-looking-for-a-product-manager-right-now/slidelist/77464438.cms">McKinsey, Facebook, Amazon, Nokia — and some other companies looking for a product manager right now</a> <a href="https://www.businessinsider.in/business/startups/news/how-karan-bajaj-sold-his-less-than-18-month-old-startup-white-hat-jr-to-byjus/articleshow/77415329.cms">A WhatsApp message, six weeks of talks and a $300 million deal – how Karan Bajaj sold his less than 18-month old startup White Hat Jr to Byju’s</a>

Congress revokes suspension of two MLAs who had rebelled against the Ashok Gehlot government in Rajasthan

Former Indian all-rounder <keyword id="191692" type="General" weightage="80" keywordseo="chetan-sharma" source="Orion">Chetan Sharma</keyword> is likely to continue as the chairman of the National Selection Committee, as per sources. As per sources, the Board of Control for Cricket in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> (<keyword id="6354756" type="General" weightage="80" keywordseo="bcci" source="Orion">BCCI</keyword>) is ready to give an opportunity to Chetan Sharma once again as chief selector. He could also be representing the North Zone in the selection panel. Meanwhile, the Board of Control for Cricket in India (BCCI) three-member Cricket Advisory Committee (CAC) comprising former India cricketers Ashok Malhotra, Jatin Paranjape and <keyword id="115989" type="General" weightage="50" keywordseo="sulakshana-naik" source="Orion">Sulakshana Naik</keyword> is conducting the interview process for picking up a new selection committee at the headquarters of the board in Mumbai. A few people have already been shortlisted and a final announcement will be made soon. Earlier in November, BCCI called for applicants for the new selection committee after India's performance in the ICC T20 World Cup held in Australia, which saw Men in Blue crash out of the semifinals after a ten-wicket loss to England in the semifinal. Last year, India also faced a disappointing final four-stage exit from the Asia Cup in August-September and had also lost the ODI series to Bangladesh in December by 2-1. A release by cricket's apex governing body in the country mentioned the criteria for those who wish to apply for the positions. "Should have played a minimum of 7 Test matches or 30 First Class matches, or 10 ODI and 20 First Class matches," a BCCI release said. "Should have retired from the game at least 5 years ago and no person who has been a member of any Cricket Committee (as defined in the rules and regulations of BCCI) for a total of 5 years shall be eligible to be a member of the Men's Selection Committee," the release added. BCCI on Sunday convened the review meeting of Team India in Mumbai to review performance in the ICC T20 World Cup 2022 where the team badly lost in the semi-final match to England by 10 wickets. The board has shortlisted 20 players for the ICC World Cup 2023 in October to be held in India. The meeting was attended by BCCI President Roger Binny, secretary Jay Shah, Indian captain Rohit Sharma, India head coach Rahul Dravid, Head of Cricket at the NCA <keyword id="6363956" type="General" weightage="50" keywordseo="vvs-laxman" source="Orion">VVS Laxman</keyword> and Chairman of Senior Men Selection Committee Chetan Sharma. The issues of player availability, workload management and fitness parameters were also discussed during the meeting along with the roadmap to the ICC Cricket World Cup 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/pope-benedict-xvi-a-man-at-odds-with-the-modern-world-who-leaves-a-legacy-of-intellectual-brilliance-and-controversy/articleshow/96699003.cms">Pope Benedict XVI: A man at odds with the modern world who leaves a legacy of intellectual brilliance and controversy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/series-creators-want-more-money-after-ads-appear-on-netflix/articleshow/96700323.cms">Series creators want more money after ads appear on Netflix</a>

Chetan Sharma likely to get another term as chief selector of India

<ul></ul><ul><li><keyword id="5325646" type="PERSON" weightage="20" keywordseo="Ashok-Kumar-Saxena">Ashok Kumar Saxena</keyword>, who served as a director in <keyword id="2205155" type="PERSON" weightage="20" keywordseo="One-97-Communication">One 97 Communication</keyword> between 2000-2004, alleged that he had invested in the company for a 55% shareholding. </li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> in its submission to police confirmed that such a ‘letter of intent’ was signed, but it never materialised into a ‘definitive agreement’ as Saxena ‘lost interest’. </li><li>The digital payments giant has also reportedly claimed that allegations against Paytm are attempts to harass the company. </li></ul>Ashok Kumar Saxena, a former director in Paytm’s parent company One 97 Communications, is now urging India’s market regulator to stall the digital payments giant’s $2.2 billion initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>). Saxena alleges that he is the co-founder of One 97 Communications and had invested about $27,500 in the company about two decades ago. However, the company never transferred his 55% shareholdings to him, as per Saxena. At the centre of the argument is a one-page document signed by Saxena and Paytm founder and chief executive Vijay Shekhar Sharma in 2001. The document reportedly highlights that Saxena would get a 55% equity stake in Paytm's parent company One 97 Communications. The remaining 45% equity shares would be owned by Sharma. As per a media report, the former director of the company had reached out to market regulator Securities and Exchange Board of India (SEBI). According to a media report, Saxena had also reached out to Delhi police to file a complaint against the company, but no case was registered. However, Saxena has now reportedly approached a New Delhi court, urging the judge to direct the local police to register a case on his complaint. The court had ordered the police to respond and the matter will be heard on August 23, as per the media report. Business Insider was not able to reach out to Saxena immediately. The development was first<a href="https://www.reuters.com/business/exclusive-ex-director-seeks-stall-2-bln-paytm-ipo-company-calls-it-harassment-2021-08-12/"> reported</a> by Reuters. Paytm, in a legal document submitted to the Delhi Police, claimed Saxena's allegations against Paytm are attempts to harass the company, as per the Reuters report. The company has listed the dispute under 'criminal proceedings' in its draft red herring prospectus (DRHP) for its IPO. Paytm in the documentation submitted to the Delhi Police, has reportedly agreed that Saxena was one of the first few directors in the company who served between 2000 and 2004. However, a company source has denied that Saxena was the co-founder of One 97 Communications. The document was accessed by Reuters. Business Insider has reached out to Paytm seeking comments. We will be updating the copy if and when we receive a response. The digital payments giant states that Saxena did extend funds to the company, however, he gradually “lost interest”. The company also emphasised that the letter being referred above was merely a “letter of Intent” and not a formal agreement. Paytm has also mentioned this in its legal statement to the police. Saxena had started disassociating himself from the company after the document was signed and stopped attending board meetings, Paytm said in the legal statement. Therefore, the intent never reached a full agreement. Paytm in the legal document also stated that Paytm and Saxena had reached a private understanding and transferred the shares to an Indian firm. Saxena said he had never received any shares and there was no misunderstanding. "The shares and money are one thing, but I also want to be recognised as the co-founder," Saxena told Reuters. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms" data-type="tilCustomLink">Travel app ixigo files for a ₹1,600 crore IPO</a> <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a>

Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue

<ul><li>According to the 2020 <keyword id="424923" type="PERSON" weightage="20" keywordseo="Hurun-rich-list">Hurun rich list</keyword>, <keyword id="81713" type="PERSON" weightage="20" keywordseo="Ashok-Soota">Ashok Soota</keyword> was among the top 10 new entrants with a net worth of ₹3,700 crore.</li><li>The Soota backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding </li><li>Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India. </li></ul>The Bengaluru-based IT speciality company Happiest Minds Technologies’ ₹702 crore IPO,⁠ which concluded two weeks ago, not only made its investors richer but also turned out to be a big moneymaker for its promoter Ashok Soota. According to the 2020 Hurun Rich List, Ashok Soota was among the top 10 new entrants to the list with a net worth of ₹ 3,700 crore. Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India. Happiest Minds IPO: The 8th most successful IPO in the decade The Soota-backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding, making it the 8th most successful IPO in the decade. The Happiest Minds IPO received bids for 3.51 billion shares against the offer size of the 23.3 million. It was also the most subscribed IPO this year, followed by Route Mobile, which was subscribed 73 times. It was already on the cards! Well, Soota isn’t a newbie in the tech industry. The 77-year-old promoter brings with him more than 30 years of experience on the table. Before starting Happiest Minds 13 years ago, Soota was the founding Chairman and Managing Director of MindTree. Mindtree had completed its IPO in 2007 during his tenure and was subscribed 103 times by the investors. Soota also worked at Wipro for 14 years, rising to the post of the vice-chairman before he left Wipro to join Shriram Refrigeration Industries as senior vice president. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-vijay-shekhar-sharma-nithin-kamath-and-udaan-co-founders-are-in-the-list-of-richest-entrepreneurs-of-india/articleshow/78380782.cms">From Byju Raveendran, Vijay Shekhar Sharma to Nithin Kamath and Udaan co-founders – Here are the richest entrepreneurs of India</a> <a href="https://www.businessinsider.in/india/news/list-of-top-ten-richest-people-in-india-according-to-hurun-rich-list-2020/slidelist/78380656.cms">These are the top ten billionaires in India, according to Hurun Rich List 2020</a>

Happiest Mind Tech IPO makes Ashok Soota one of India’s richest – marks his debut on Hurun Rich List 2020

New Delhi, The <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> Friday directed the government to ensure that all steps be taken to implement its decision to forego interest on eight specified <keyword id="10342500" type="UNKNOWN" weightage="20" keywordseo="categories-of-loans">categories of loans</keyword> paid upto ₹2 crore in view of the coronavirus pandemic. A bench headed by Justice <keyword id="247734" type="PERSON" weightage="20" keywordseo="Ashok-Bhushan">Ashok Bhushan</keyword> said the COVID-19 pandemic has not only caused serious threat to the health of the people but has also cast its shadow on the <keyword id="47276" type="PERSON" weightage="20" keywordseo="Economic-growth">economic growth</keyword> of the country as well as other countries in the entire world. The eight categories of loans are MSME (Micro, Small &amp; Medium Enterprises), Education, Housing, Consumer durable, Credit card, Automobile, Personal and Consumption. "Due to lockdown imposed by <keyword id="1576501" type="COMPANY" weightage="20" keywordseo="The-Government-of-India">the Government of India</keyword> in exercise of powers under the Disaster Management Act, 2005, there can be no denial that most of the businesses including private sector as well as public sector has been adversely affected. "For several months, large number of industries were not allowed to function and exemptions were granted only to few of the industries to run and carry on its activities, which were found essential and necessary in the fact situation," the bench, also comprising Justices R S Reddy and M R Shah, said. Although, gradually, due to Unlock- 1, 2 and 3, the industries and other business activities have been restored and the economy of the country is on track, although at a slow pace, it said. The apex court noted that moratorium period as granted by the Reserve Bank of India have continued from March 3 to August 31 for the period of six months. It noted the submission of Solicitor General Tushar Mehta that measures taken by the Centre in exercise of jurisdiction under the Disaster Management Act, 2005 to mitigate the hardships and miseries of few sectors. "As noted above, senior advocate Rajiv Dutta, counsel for the petitioner has expressed its satisfaction on the measures taken by the Government of India redressing grievances of the petitioner to the extent as noted above. "We dispose of the present writ petition with directions to the respondents to ensure that all steps be taken to implement the decision... so that benefit as contemplated by the Government of India percolates to those for whom financial benefits have been envisaged and extended," it said. The RBI had on March 27 issued the circular which allowed lending institutions to grant a moratorium on payment of instalments of term loans falling due between March 1, 2020, and May 31, 2020, due to the pandemic. Later, the moratorium was extended till August 31 this year. The pleas pertained to charging of interest on interest by banks on EMIs which have not been paid by borrowers after availing the loan moratorium scheme of RBI during March 1 to August 31. The top court's judgement came on a PIL filed by Agra resident Gajendra Sharma seeking directions to declare the notification dated March 27, 2020 issued by Reserve Bank of India as ultra vires to the extent it charges interest on the loan amount during the moratorium period. SEE ALSO- <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-future-retail-astrazeneca-cadila-dhfl-mm-indraprastha-gas-gujarat-gas-mahanagar-gas-and-others/articleshow/79440358.cms" data-type="tilCustomLink">https://www.businessinsider.in/stock-market/news/top-stock-movers-future-retail-astrazeneca-cadila-dhfl-mm-indraprastha-gas-gujarat-gas-mahanagar-gas-and-others/articleshow/79440358.cms</a> <a href="https://www.businessinsider.in/business/corporates/news/two-protestors-barged-into-the-india-australia-match-ground-holding-signs-sbi-no-1b-adani-loan/articleshow/79441670.cms" data-type="tilCustomLink">https://www.businessinsider.in/business/corporates/news/two-protestors-barged-into-the-india-australia-match-ground-holding-signs-sbi-no-1b-adani-loan/articleshow/79441670.cms</a>

SC directs govt to implement its decision to forego interest on eight categories of loans

<a href="http://www.businessinsider.in/searchresult.cms?query=Mahindra+Group&amp;sortorder=effectivedate">Mahindra Group</a> is looking forward to deepen its roots in the <a href="http://www.businessinsider.in/searchresult.cms?query=agricultural+sector&amp;sortorder=effectivedate">agricultural sector</a> and act as an investor in the space. The Group is said to be in talks with some companies and wants to invest in <a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate">startups</a>. 
 "There are 3-4 companies that we are in talks with at various levels of maturity when it comes to possible investments. In 2017, we should be able to close some investments," <keyword id="187759" type="PERSON" weightage="20" keywordseo="Ashok-Sharma">Ashok Sharma</keyword>, president of the Agri-Business at <a href="http://www.businessinsider.in/searchresult.cms?query=Mahindra&amp;sortorder=effectivedate">Mahindra</a>, told ET. 
 
The company also wants to co-invest and even collaborate with venture capital funds to attract big money in the agrarian space. 
 
"We would be open to investing along with venture capital funds if a higher ticket size is required. As a company grows and looks for the next round of funding (Series A onwards), we could evaluate if we should get another fund on board," Sharma told ET. 
 <keyword id="45224" type="CITY" weightage="100" keywordseo="Mahindra">Mahindra</keyword> is not only investing but also innovating as it launched MyAgriGuru, a platform that helps farmers manage their crops by providing information on weather, pricing, etc. 
 "We currently have 10 crops on the app and have tied up with the <keyword id="6355166" type="ORGANIZATION" weightage="20" keywordseo="India-Meteorological-Department">India Meteorological Department</keyword> (IMD) for weather forecast for a five-day period, and also with commodity exchange NCDEX for prices of the produce," Sharma told ET. 
 
Besides, in 2016, Mahindra invested $1 million in MeraKisan, through which farmers sold fresh produce directly to customers, eliminating the middle man. The upcoming investments, too, are likely to be in the range of $1-5 million.

Are you ready? Mahindra is looking to invest in startups in agriculture sector

<keyword id="6357085" type="PERSON" weightage="20" keywordseo="Ashok-Leyland">Ashok Leyland</keyword>, a leader in heavy vehicle producing company, just gave India its first electric bus. You won’t have to tolerate the black smoke from buses and this electric bus is developed keeping Indian roads and load conditions in mind. 
 "India's first ever fully electric bus, developed for India and made in India, is a big leap in mass public transport and we are glad that Ashok Leyland has been able to deliver this. This vehicle will support the government initiative of reducing India's eight lakh crore fuel import bill and is a promise for a brighter and cleaner future for all of us and for our future generations," <keyword id="304835" type="PERSON" weightage="20" keywordseo="Ambuj-Sharma">Ambuj Sharma</keyword> IAS, additional chief secretary, industries and commerce, government of <keyword id="20154" type="ORGANIZATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword> told ET. 
 The bus is presented in lines with <keyword id="1274791" type="UNKNOWN" weightage="20" keywordseo="National-Electric-Mobility-Plan">National Electric Mobility Plan</keyword> which plans a 20% entrance of electric/crossover vehicles by 2020. Not only the bus will provide zero tailpipe discharges and lower noise pollution but will also offers lessened running expenses to the operator. 
 "It can deliver payback to the customer in about 4-5 years. The Circuit series of buses is another testament to Ashok Leyland's commitment to leverage India's technological innovation to deliver relevant and best-in-class solutions for India and the world," <keyword id="895924" type="PERSON" weightage="20" keywordseo="Vinod-Dasari">Vinod Dasari</keyword>, managing director, Ashok Leyland told ET

India just got its first electric bus

In a bid to improve performance and passenger facilitation, the new government at the Centre has asked the cash-strapped state-run carrier <keyword id="2573" type="CITY" weightage="100" keywordseo="Air-India">Air India</keyword> to slash expenditure on operational heads by 10%, says a PTI report. 
 The decision was taken after senior airline official met meeting <keyword id="13124" type="POSITION" weightage="80" keywordseo="Civil-Aviation-Minister">Civil Aviation Minister</keyword> <keyword id="2128920" type="UNKNOWN" weightage="80" keywordseo="Ashok-Gajapathi-Raju">Ashok Gajapathi Raju</keyword> along with his Minister of State <keyword id="210147" type="PERSON" weightage="60" keywordseo="Mahesh-Sharma">Mahesh Sharma</keyword> in New Delhi. The officials also came up with a presentation showcasing performance parameters of Air India. 
 
In 2013-14, Air India witnessed losses of about Rs 5,400 crore in 2013-14. 
 
Asking officials to improve on-time performance of flights by reducing delays, the Minister also sked them to ensure that passengers should be informed about any delay on time. 
 
In case of major delays, the ministers added that the passengers should be provided with refreshments and alternate connections. 
 
The PTI report also suggests that Raju observed the performance of Air India over the last six months. According to him, there is an improvement in the market-share and financial performance of the carrier. However, he added that the airline should put in efforts to achieve a higher and faster turnaround this fiscal.

Modi-led Government Has A Revival Plan For Air India

The government has decided not to privatize Chennai, Kolkata, Jaipur and Ahmedabad <a href="http://www.businessinsider.in/searchresult.cms?query=airport">airports</a>. 
 
Private companies would ony be employed for operation and maintenance in Jaipur and Ahmedabad airports. A decision was already taken last month in a meeting attended by Prime Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Narendra Modi</a> and Civil Aviation Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Ashok+Gajapathi+Raju">Ashok Gajapathi Raju</a> among others. 
 
The proposal was to hand over the operation, management and development of Chennai, Kolkata, Ahmedabad and Jaipur airports through <a href="http://www.businessinsider.in/searchresult.cms?query=public+private+partnerships">public private partnerships</a> (PPP). However, the government has now decided to take up Jaipur and Ahmedabad airports on pilot basis. 
 
Deputy Aviation Minister Mahesh Sharma told reporters today, “The four airports, Jaipur, Ahmedabad, Chennai and Kolkata, were under consideration. On a pilot basis, the two airports, Jaipur and Ahmedabad, will be taken on O&amp;M basis. Issues of Chennai and Kolkata have been deferred." 
 
Image credit: Indiatimes

Government won’t privatize 4 Indian airports

The <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword> today sought responses from senior <keyword id="6356617" type="POSITION" weightage="80" keywordseo="bjp-leader">BJP leader</keyword> L K Advani and others on a plea against dropping of criminal conspiracy charge against them in the Babri mosque <keyword id="6367653" type="PERSON" weightage="80" keywordseo="Demolition">demolition</keyword> case. 
 A bench headed by <keyword id="42759" type="POSITION" weightage="80" keywordseo="Chief-Justice">Chief Justice</keyword> H L Dattu issued notices to the BJP leader and the CBI on a separate plea filed by Haji Mahboob Ahmad, one of the petitioners in the Babri mosque case. 
 
 
Ahmad, in his plea, has alleged that CBI may dilute its stand in the wake of the change in the government at the Centre. 
 Earlier, the CBI had moved the apex court against <keyword id="48834" type="ORGANIZATION" weightage="80" keywordseo="Allahabad-High-Court">Allahabad High Court</keyword>'s verdict on dropping conspiracy charge against Advani and 19 others in Babri mosque demolition case. 
 
 
During the brief hearing, CBI today sought time for filing a fresh affidavit on delay in filing the appeal and on the merits of the case. 
 
The court allowed the plea of the probe agency and granted four weeks time to file the response. 
 
The apex court had earlier pulled up CBI for the delay in filing an appeal against the Allahabad High Court verdict. 
 
 
CBI has challenged in the Supreme Court the May 21, 2010 order of the high court, which had upheld a special court's decision to drop the charge against the leaders. 
 In its verdict, the high court had upheld the special <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> order dropping conspiracy charge against Advani, <keyword id="6361634" type="PERSON" weightage="80" keywordseo="Kalyan-Singh">Kalyan Singh</keyword>, <keyword id="42642" type="PERSON" weightage="80" keywordseo="Uma-Bharti">Uma Bharti</keyword>, Vinay Katiyar and Murli Manohar Joshi. 
 
The others against whom the charge was dropped included Satish Pradhan, C R Bansal, Ashok Singhal, Giriraj Kishore, Sadhvi Ritambhara, V H Dalmia, Mahant Avaidhynath, R V Vedanti, Param Hans Ram Chandra Das, Jagdish Muni Maharaj, B L Sharma, Nritya Gopal Das, Dharam Das, Satish Nagar and Moreshwar Save. 
 
Bal Thackeray's name was removed from the list of accused persons after his death. 
 
While upholding the special court's order, the high court 
 
 While upholding the special court's order, the high court had allowed CBI to proceed with other charges against Advani and others in a <keyword id="2788382" type="ORGANIZATION" weightage="80" keywordseo="Rae-Bareily-court">Rae Bareily court</keyword>, under whose jurisdiction the case falls. 
 
The May 2010 order of the high court had said there was no merit in CBI's revision petition against the May 4, 2001 order of the special court which had directed dropping of criminal conspiracy charge against them. 
 
 
There are two sets of cases -- one against Advani and others who were on the dais at Ram Katha Kunj in Ayodhya on December 6, 1992 when the Babri mosque was demolished, while the other case was against lakhs of unknown 'karsevaks' who were in and around the disputed structure. 
 
CBI had charge sheeted Advani and 20 others under sections 153A (promoting enmity between classes), 153B (imputations, assertions prejudicial to national integration) and 505 (false statements, rumours etc. circulated with the intent to cause mutiny or disturb public peace) of the IPC. 
 
It had subsequently invoked charges under section 120B (criminal conspiracy) of IPC which was quashed by the special court whose decision was upheld by the high court. 
While upholding the special court's order, the high court had said CBI at no point of time, either during the trial at Rae Bareily or in its revision petition, ever stated that there was offence of criminal conspiracy against the leaders.

New Supreme Court notice to Advani, 19 others in Babri demolition case

The <keyword id="432663" type="UNKNOWN" weightage="60" keywordseo="Corporate-espionage">corporate espionage</keyword> case, which was unearthed a month back, has revealed a huge conspiracy theory undermining at the ministry level. In a major crackdown by the Central Bureau of Investigation (CBI), The Economic Times reports that two employees of the Ministry of Finance along with a Mumbai-based consultant have been held for their alleged involvement in illegally obtaining documents on foreign investment policies and passing them on to at least eight companies. 
 
A CBI spokesperson has informed The Economic Times, the investigating agency has conducted raids at six places in Delhi and two places in Mumbai on Thursday. These raids were carried out as part of an investigation into the "leakage and sale of confidential government documents relating to foreign investments in the Ministries of Finance and Commerce."Khemchand Gandhi, a chartered accountant-cum consultant, who has been detained by the police, used to sold documents and files to corporates. 
 
The ET report has confirmed that Gandhi has also been detained by the CBI after a bunch of documents sent to him was intercepted by the agency. The CBI had recovered Rs 60 lakh in cash from his residence and office along with a trove of documents. 
 <keyword id="239515" type="PERSON" weightage="60" keywordseo="Ashok-Kumar-Singh">Ashok Kumar Singh</keyword>, under secretary in the Department of Disinvestment in Finance Ministry, and Lala Ram Sharma, a section officer in the Department of Economic Affairs in Ministry of Finance, are also among those who have been detained. 
 
The residence of Daljeet Singh, an upper division clerk in the Department of Industrial Policy and Promotion (DIPP) in the commerce ministry, was raided by the CBI but Singh was not detained, the ET reported. 
 Earlier, <keyword id="6358992" type="ORGANIZATION" weightage="60" keywordseo="Delhi-Police">Delhi Police</keyword> had arrested two junior oil ministry officials and three other middlemen for allegedly leaking classified government documents to energy companies. 
 
They also held two consultants Santanu Saikia and Prayas Jain along with five executives from top energy companies, who were identified as RIL’s Shailesh Saxena, Vinay Kumar from Essar, KK Naik from Cairn, Subhash Chandra from Jubilant Energy and Rishi Anand from ADAG Reliance. Sources told the ET that Delhi Police has been subsequently questioning senior officials of these corporate. 
 
(Image: Reuters)

Corporate Espionage: CBI detains two Govt staffers and a tax consultant

PS Jayakumar is now the new managing director and CEO of <a href="http://www.businessinsider.in/searchresult.cms?query=state-owned+Bank+of+Baroda+%28BoB%29">state-owned Bank of Baroda (BoB).</a> He has to apply his expertise to find ways of quickly controlling the fallout from the probe into the transfer of Rs 6,000 crore to Hong Kong in the garb of payments toward possibly non-existent imports from a branch of the bank. 
 
Jayakumar earlier used to work with <a href="http://www.businessinsider.in/searchresult.cms?query=Citibank">Citibank</a> and the management is relying on him to solve the crisis. He is one of the few such appointments that have been made as the government has sought to draw on talent outside the public sector bank pool. 
 
He has become the CEO after the lender remained headless for 14 months during which most policy issues remained unaddressed as top executives focused on day-to-day matters. 
 Jayakumar is the second person from the private sector to lead a state-run bank following <keyword id="191001" type="PERSON" weightage="60" keywordseo="Rakesh-Sharma">Rakesh Sharma</keyword>, who joined <a href="http://www.businessinsider.in/searchresult.cms?query=Canara+Bank+">Canara Bank</a> last month as the government attempts to turn around the state-run banking system that's laden with bad debt. 
 As far as the probe is concerned, over 30 public and private sector banks may get dragged into it involving the transfers of money by 59 companies through newly opened current accounts at <keyword id="92547" type="CITY" weightage="100" keywordseo="BoB">BoB</keyword>'s Ashok Vihar branch in New Delhi. 
 
On Monday, BoB executive director BB Joshi said the money was mostly transferred electronically from these banks through the real-time gross settlement system or RTGS route. "Around 90% of amount has come from various banks. Only 10% cash transaction has taken place at our branch," he said. 
 
An official said the <a href="http://www.businessinsider.in/searchresult.cms?query=Finance+Ministry+">Finance Ministry</a> would ask banks to identify any black money trail, adding "Bank of Baroda said the actual amount is lower.” 
 
As the probe is going on, “we will not be able to give a definite number, but it should be much less than Rs 6,000 crore," said Joshi, ruling out any financial loss for the bank. Its stock dropped 3.02% on the <a href="http://www.businessinsider.in/searchresult.cms?query=Bombay+Stock+Exchange+">Bombay Stock Exchange</a> (<keyword id="35140" type="CITY" weightage="100" keywordseo="BSE">BSE</keyword>), closing at Rs 176.80 on Monday. The bank has suspended two employees including the branch head besides terminating the services of the concurrent auditor. 
 
"We are forwarding all money trails to the investigating agencies and it was the bank itself which detected the irregularities and proactively informed the agencies," said Joshi. 
 
Last week, the <a href="http://www.businessinsider.in/searchresult.cms?query=Central+Bureau+of+Investigation+%28CBI%29+">Central Bureau of Investigation (CBI)</a> had conducted searches at 50 locations in relation to the alleged violation of banking norms. It noted that most of the addresses given by companies were either false or that they did not exist at the locations. 
 "Most of the accused persons allegedly involved in perpetration of the said crime have been identified and their interrogation is underway. There was allegedly overseas remittance of <keyword id="6368276" type="COMPANY" weightage="80" keywordseo="Foreign-exchange">foreign exchange</keyword> of Rs 6,000 crore," it noted in its statement. 
 
The amount remitted in each transaction was below $100,000 and said to an advance toward imports, the CBI said, adding that in most of the cases, the beneficiary was the same. 
 
(Image: Indiatimes)

Rs 6,000 cr transfer, a headache for newly appointed Bank of Baroda MD and CEO PS Jayakumar?

Byju's Founder <keyword id="1702989" type="General" weightage="100" keywordseo="Byju-Raveendran" source="Orion">Byju Raveendran</keyword>'s plea against the insolvency of <keyword id="19901241" type="General" weightage="20" keywordseo="Think-Learn" source="keywords">Think &amp; Learn</keyword> before the NCLAT was adjourned on Monday, as one of the members of the bench recused from the hearing. The matter will be placed before a bench headed by <keyword id="19916403" type="General" weightage="20" keywordseo="National-Company-Law-Appellate-Tribunal" source="keywords" meta.keywordsubtype="org" meta.entityname="National Company Law Appellate Tribunal" meta.hostid="345" meta.entityid="National Company Law Appellate Tribunal">National Company Law Appellate Tribunal</keyword> (NCLAT) Chairman Justice Ashok Bhushan, who will assign a different bench to hear the matter. Raveendran had filed a petition challenging the initiation of <keyword id="19965539" type="General" weightage="20" keywordseo="insolvency-proceedings" source="keywords">insolvency proceedings</keyword> against Think &amp; Learn, which runs edtech company Byju's. The matter was listed on Monday before a two-member Chennai-based bench of the NCLAT comprising Justice Sharad Kumar Sharma, Member (Judicial), and Jatindranath Swain, Member (Technical). However, Justice Sharma recused himself from the hearing, saying he had appeared as the counsel for the Board of Control for Cricket in India (<keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="345" meta.entityid="BCCI">BCCI</keyword>) before his elevation. "I have appeared as a senior counsel for (the) BCCI. Since they are the main beneficiaries of this order, I cannot take this up," said Sharma. The Bengaluru bench of the National Company Law Tribunal (<keyword id="19901085" type="General" weightage="20" keywordseo="NCLT" source="keywords">NCLT</keyword>) on July 16 directed Corporate Insolvency Resolution Proceedings (CIRP), admitting the plea filed by the BCCI. The BCCI had approached the NCLT under the Insolvency and Bankruptcy Code (IBC) over a default of Rs 158.9 crore by Think &amp; Learn -- once India's most valuable startup worth an estimated $22 billion. NCLT has suspended the board of Think &amp; Learn Pvt Ltd as per the provisions of the IBC and had appointed an interim resolution professional (IRP) to take care of the debt-ridden firm. Raveendran challenged the NCLT order before the appellate tribunal NCLAT. He has also approached the Karnataka High Court. The high court had, on July 26 deferred Raveendran's plea to July 30. At the high court, Raveendran challenged the validity of the order and suspension of the NCLT order till the NCLAT hears the appeal.

NCLAT judge recuses from hearing Raveendran's plea against insolvency proceedings of Byju

India <keyword id="20147279" type="General" weightage="20" keywordseo="head-coach" source="keywords">head coach</keyword> <keyword id="19923639" type="General" weightage="20" keywordseo="Rahul-Dravid" source="keywords">Rahul Dravid</keyword> will have to reapply if he wishes to continue in the job after his tenure ends with next month's <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords">T20 World Cup</keyword>, <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="261" meta.entityid="BCCI">BCCI</keyword> Secretary <keyword id="19930802" type="General" weightage="20" keywordseo="Jay-Shah" source="keywords">Jay Shah</keyword> has said while making it clear that the new appointment will be for a three-year term. Dravid, who had a two-year contract originally, was given an extension along with his support staff after the conclusion of the 50-overs World Cup in November last year. "We will call for applications in the next few days. Rahul Dravid's tenure is coming to an end. He has to reapply if he has to continue. We are looking for a long-term coach, for three years," Shah told select media during an interaction at the BCCI office here on Thursday. The BCCI secretary said there has been no precedent of having different coaches for different formats but ultimately the decision rests with the Cricket Advisory Committee. The CAC comprises Jatin Paranjape, Ashok Malhotra and Sulakshana Naik. "There is no precedent of different coaches for different format in Indian cricket. Besides, we have a number of players who are all-format players. There are many common players across formats such as Rishabh Pant, Virat Kohli and Rohit Sharma," he said. "Ultimately, this is the Cricket Advisory Committee's call. I have to implement what they decide," he added. Shah said even a foreign coach can be considered depending on the CAC's recommendations. "If the CAC selects a foreign coach, I can't interfere," he added. The BCCI secretary informed that the vacant post of one national selector is expected to be filled up soon. "A few interviews for the selector's post have already happened. We will announce it soon," he said. Greg Barclay's role as the chairman of the <keyword id="19901179" type="General" weightage="20" keywordseo="International-Cricket-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="International Cricket Council" meta.hostid="261" meta.entityid="International Cricket Council">International Cricket Council</keyword> ends later this year but Shah remained non-committal on running for the position. "Let me be here in BCCI. Let there be speculation. But let me be here (in the BCCI). Am I not doing a good job?" he asked. "India sending experienced team for T20 World Cup" Shah said India are sending an experienced team to the T20 World Cup owing to the fact that conditions in the USA are unknown. "The team is leaving in two batches, those who will be free before (the playoffs) will leave on May 24. The rest of them will leave after the final," he said. "We have an experienced team; a better team couldn't have been selected. We have selected the best 15 players possible. We have a batting line up till Nos. 8 and 9. We have selected experienced players who can play in all conditions," he added. Shah rejected the talk that India, England and Australia are in talks to revive the franchise-based competition Champions League T20. Cricket Victoria CEO Nick Cummins had claimed in a media interaction here last month that the three boards are in talks to revive the competition. "The Cricket Victoria CEO has not spoken to me about this. No such discussions are taking place. I would have told you had I been a part of any talks," Shah said. He also said the ICC has not approached BCCI on the topic of creating windows for country-based T20 leagues. "That is ICC's prerogative. It is a fact that the ICC is not touching the IPL. In fact, they have given it a two-and-a-half month window instead of just about two months, we are grateful to the ICC for that," he said. Shah said the board will speak to the ICC about hosting the World Test Championship final at a different venue from 2027. The first two editions of Test cricket's summit clash have been organised in England, including the one for the current 2023-25 cycle. "We have spoken about the ICC for 2027. There are only three main Test centres, India, England and Australia. You cannot hold it in Australia during that window or even in India. Even in Bengaluru, it rains during that time," he said. 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You Searched For "Ashok Sharma" and got 14 results

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