Cash-discovery row: Delhi HC withdraws work from Justice Yashwant Varma
New Delhi(PTI): The Delhi High Court on Monday "with immediate effect" withdrew judicial work from Justice Yashwant Varma, who is subject to an inquiry after the purported discovery of a large stash of cash following a fire at his official residence, till further orders.
The high court issued a notice on the development.
Another note attached to the causelist of the day on the high court's website said the court master of division bench-III, which was headed by Justice Varma, would assign dates in matters listed before Monday.
"In view of the recent events, the judicial work from Justice Yashwant Varma is withdrawn with immediate effect, till further orders," the note, with the registrar (listing) as the signatory, said.
The note was issued by the registrar following a notice of Delhi High Chief Justice D K Upadhyaya.
Chief Justice of India Sanjiv Khanna had previously asked Justice Upadhyaya not to assign any judicial work to Justice Varma, the second senior-most judge of the Delhi High Court.
Justice Varma was heading a division bench, which was dealing with cases of sales tax, goods and services tax, company appeals and other appeals of the original side.
The roster handled by the division bench of Justices Yashwant Varma and Harish Vaidyanathan Shankar has now been allotted to a division bench of Justices Subramonium Prasad and Harish Vaidyanathan Shankar.
Now the division bench-III will be headed by Justice Prathiba M Singh.
The Supreme Court on March 22 uploaded on its website the inquiry report of Chief Justice Upadhyaya -- complete with photos and videos -- over the alleged discovery.
CJI Khanna has constituted a three-member committee to conduct an inquiry into the allegations against Justice Varma aside from ordering an in-house inquiry following a report from Justice Upadhyaya.
Justice Upadhyaya's report to the CJI contains material with regard to official communication that says "four to five semi-burnt sacks of Indian currency notes" were found from the judge's Lutyens home.
Justice Varma has strongly denounced the allegations in the cash-discovery row and said no cash was ever placed in the storeroom of his residence either by him or any of his family members.
In his response to the high court chief justice, Justice Varma said the allegation of cash discovery from his residence clearly appeared to be a "conspiracy to frame and malign him".
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Gold, silver soar as US-Iran deal hopes lift bullion demand
New Delhi (PTI): Gold prices rebounded by Rs 2,900 to Rs 1.55 lakh per 10 grams in the national capital on Wednesday, while silver climbed to Rs 2.54 lakh per kilogram as easing geopolitical tensions triggered a pullback in oil rates, boosting demand for precious metals.
According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity jumped by Rs 2,900, or nearly 2 per cent, to Rs 1,55,400 per 10 grams (inclusive of all taxes) from Tuesday's closing level of Rs 1,52,500 per 10 grams.
Traders attributed the surge in bullion prices to reports that Washington and Tehran are close to finalising a framework agreement to end months of conflict, raising the prospects of smoother flows through the Strait of Hormuz and easing inflation concerns tied to energy markets.
"Gold rallied strongly on Wednesday as easing geopolitical tensions triggered a sharp reversal in key macro drivers that had recently pressured precious metals," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
Silver prices also advanced for the third straight session by rising Rs 3,500, or 1.4 per cent, to Rs 2,54,500 per kg (inclusive of all taxes). The metal had settled at Rs 2,51,000 per kg in the previous session, as per the Association.
"The prospect of a diplomatic breakthrough triggered a steep decline in oil prices and the US dollar, easing concerns about inflation while boosting demand for precious metals," Gandhi said.
Globally, spot gold increased by USD 106.15, or 2.33 per cent, to USD 4,663.70 per ounce while silver gained USD 3.40, or 4.68 per cent, to USD 76.24 per ounce.
"Gold witnessed a sharp rally as markets reacted positively to reports that the US and Iran are moving closer to a one-page agreement framework aimed at ending the conflict," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.
Despite strong international gains, rupee strength limited the upside in domestic gold prices. The market is now highly focused on final confirmation and execution of the proposed deal, he added.
Any negative surprise or breakdown in negotiations could trigger a sharp sell-off in gold, while a successful agreement and sustained ceasefire could push the bullion prices higher in the near-term, Trivedi said.
