Big blow for Sahara chief Subrata Roy, company’s iconic Aamby Valley attached by Supreme Court
The Supreme Court of India on Monday ordered that Sahara group’s iconic Aamby Valley project near Lonavala will be attached in the public auction to recover dues, which means that now it will be under the supervision of the court and nobody can do anything with it till the next hearing. The Aamvby Valley property is worth Rs 39,000 cr. The Sahara officials admitted before the Supreme Court that it had to pay Rs 14,000 cr as principal money to Securities and Exchange Board of India (SEBI) and that it had already paid Rs 11,000 cr. Earlier in the case, the apex court had asked Sahara to furnish a list of all the properties that were free from litigation and mortgage so that it can be put into public auction. The next hearing in the case will take place on February 27.
Demonetisation is for losers: Economist Steve H Hanke
Criticising India’s decision to scrap high-value currency notes, noted American economist Steve H Hanke has said demonetisation is for ‘losers’ and even Prime Minister Narendra Modi does not know where the country is heading now. “#Demonetisation is for losers and has been bungled from the start. No one, not even Modi, knows where India is heading,” Hanke, an American applied economist at the Johns Hopkins University in Baltimore, Maryland, said in a tweet. A Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, Hanke had earlier said that “India simply does not have the infrastructure to adapt to Modi’s demonetisation…he should have known.”
Tweet was about job creation in Tamil Nadu, not Sasikala, says R Ashwin
Indian spinner Ravichandran Ashwin reflected on the public and media reaction to his earlier tweet where he said that there would be 234 job opportunities opening up in Tamil Nadu. In what was considered to be a veiled attack at Sasikala, the ace spinner had tweeted about the job opportunities opening up with Chief Minister O Panneerselvam and his entire cabinet’s resignation. In his recent tweet, Ashwin joked that it was only a job creation drive and had nothing to do with politics. Earlier today, Tamil Nadu governor V S Rao had accepted Chief Minister Panneerselvam’s resignation but had asked him to hold the office till all other arrangements had been made. This had cleared V K Sasikala’s path to take the oath as Tamil Nadu’s Chief Minister.