Cash row: Probe panel confirms allegations against Justice Varma, CJI seeks his reply
New Delhi (PTI): The Supreme Court-appointed panel has confirmed the cash discovery allegations against Allahabad High Court's Justice Yashwant Varma in its inquiry report, sources have said. Chief Justice of India Sanjiv Khanna is also learnt to have nudged the judge to step down in view of the critical findings in the report.
The CJI has forwarded the panel's report to Justice Varma and sought his reply following the principle of natural justice, the sources said.
The report was submitted to the CJI by the three-member panel comprising Punjab and Haryana High Court Chief Justice Sheel Nagu, Himachal Pradesh High Court Chief Justice G S Sandhawalia and Justice Anu Sivaraman of the Karnataka High Court. It was finalised on May 3.
The panel analysed evidence and recorded the statements of over 50 people, including Delhi Police Commissioner Sanjay Arora and Delhi Fire Service chief who were among the first responders to the fire incident at Justice Varma's Lutyens Delhi residence at around 11.35 pm on March 14. He was Delhi High Court judge at the time.
Sources said the panel found clear evidence to confirm the allegations that a huge stash of cash was found in the storeroom of Justice Varma's official residence at the time of fire incident. The allegation was repeatedly denied by the judge in his reply to the Delhi High Court chief justice.
The sources said CJI Khanna, who is set to superannuate on May 13, is likely to take the issue to its logical conclusion and has informally discussed the findings of the report with senior collegium members of the apex court.
The controversy was raised following a news report in the cash discovery row and led to several steps, including a preliminary inquiry by Delhi High Court Chief Justice D K Upadhyaya, judicial work being taken away from Justice Varma in the Delhi High Court, and later his transfer to the Allahabad High Court sans judicial work.
On March 24, the apex court collegium recommended the repatriation of Justice Varma to his parent Allahabad High Court.
On March 28, the top court asked the chief justice of the Allahabad High Court not to assign any judicial work for now to Justice Varma.
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
