Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

SC issues notice to 2 firms on Subramanian Swamy's plea

Nov 22 2012, 20:41 IST
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Summary'We will issue notices to the two companies to seek their responses... returnable within 12 weeks.'

The Supreme Court today issued notices to Chennai-based Advantage Strategic Consulting Private Ltd (ASCPL) and another firm on a plea of Janata Party President Subramanian Swamy seeking initiation of contempt proceedings against them for filing a defamation suit in Singapore against him.

"We will issue notices to the two companies to seek their responses... returnable within 12 weeks," a bench of justices G S Singhvi and K S Radhakrishnan said, moments after Swamy rose to advance his arguments on his contempt petition.

The court, which also asked Singapore-based Advantage Strategic Singapore to respond to Swamy's plea, however, did not issue notices to Finance Minister P Chidambaram, his son Karti Chidambaram and one C B N Reddy.

Swamy claimed Reddy is a director in the foreign firm.

The notices were issued on Swamy's plea which alleged that the foreign firm, without any legal notice, lodged a defamation suit in the High Court of Singapore citing "You Tube and other internet publications" which were not posted by him.

The Janata Party leader also alleged that such pleas "in faraway fora abroad would chill efforts of honest public spirited persons and set an example to dissuade others to turn away from these hallowed chambers of justice."

He said such pleas would harass "public spirited petitioners" and alleged that Karti and some of his family members "own nearly 90 per cent of Advantage India," the firm which allegedly is the holding firm of the Singapore-based company.

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