IOC resumes dynamic pricing, petrol near 5-year high in Delhi
New Delhi, May 14 : With the resumption of dynamic pricing system for transport fuels on Monday by the Indian Oil Corporation (IOC), petrol prices in the national capital shot up to 74.80 per litre.
The IOC had suspended dynamic pricing system for transport fuels for 19 days to "avoid creating unnecessary panic among the consumers".
In Delhi, petrol was priced at Rs 74.80 per litre on Monday, highest since September 2013, when it had hit Rs 76.06 a litre. The price was last changed on April 24 when it was at Rs 74.63 per litre.
In the other metropolitan cities of Kolkata, Mumbai and Chennai also petrol prices were at multi-year high levels of Rs 77.50, Rs 82.65 and Rs 77.61 a litre on Monday.
The previous highs in these cities were Rs 78.03 (Kolkata, August 2014), Rs 83.62 (Mumbai, September 2013) and Rs 77.48 (Chennai, September 2013).
Apart from petrol prices, diesel also rose to a fresh record high after the last price movement on April 24. Prices of diesel on Tuesday, in Delhi, Kolkata, Mumbai, Chennai were Rs 66.14, Rs 68.68, Rs 70.43 and Rs 69.79 per litre, respectively.
Prices did not change in the last 19 days, despite rise in international crude oil prices, which observers cited as a deliberate political move ahead of Karnataka polls. Brent crude oil is currently priced over $76 per barrel.
However, IOC Chairman Sanjiv Singh on May 8, said the dymanic pricing was suspended temporarily despite a rise in international rates, to avoid panic among consumers.
"We have decided to temporarily moderate retail prices by not passing on the required increase as we believe the current international oil product prices are not supported by fundamentals. So we have decided to wait for a while," Singh had said, adding: "Passing them on to consumers will unnecessarily create panic."
This temporary relief to consumer seems to have come to an end with the rise in prices on Monday.
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BMW hit-and-run case: HC refuses to release accused Mihir Shah on ground of 'illegal' arrest
Mumbai (PTI): The Bombay High Court on Monday refused to release Mihir Shah, the main accused in a BMW hit-and-run case, on the ground of "illegal" arrest.
Shah, the 24-year-old son of a former Shiv Sena leader, and his driver Rajrishi Bidawat had filed petitions in the HC claiming they have been illegally detained and sought immediate release.
Shah was arrested on July 9, two days after he allegedly rammed his BMW car into a two-wheeler in Mumbai's Worli area, killing 45-year-old woman Kaveri Nakhwa and leaving her husband Pradeep injured.
His driver Bidawat, who was also present in the car at the time of the accident, was arrested on the day of the incident.
As per their pleas, the police had not informed them the grounds of their arrest at the time, which they claimed was in violation of the law.
A division bench of Justices Bharati Dangre and Manjusha Deshpande on Monday dismissed the petitions.
"Both the petitions are dismissed," the court said.
The duo sought their release, claiming any further detention would be in utter violation of the constitutional mandate and a failure to comply with Section 50 of the Code of Criminal Procedure.
Under this section, the police, while arresting a person, have to communicate to him/her full particulars of the offence for which he/she is being arrested or other grounds for such arrest.
Both Shah and Bidawat are presently in judicial custody.
In their habeas corpus (produce the person) petitions filed in the HC in August, Shah and Bidawat claimed their detention was illegal and sought that they be released immediately.
Shah, in the plea, sought quashing of the orders passed by a local court remanding him first in police custody and then judicial custody.
He also sought for his arrest to be declared as illegal.
Shah is accused of speeding off towards the Bandra Worli Sea Link after the accident, even as the woman remained on the bonnet of the car and then got entangled in its wheels, for a distance of more than 1.5 kilometres.
As per police, Shah, who fled from the scene, was under the influence of alcohol at the time.
Mihir Shah's father and former Shiv Sena leader Rajesh Shah had also been arrested in the case, but was later granted bail.
