CBI questions Lalu Prasad in land-for-jobs scam case
New Delhi (PTI): The CBI on Tuesday started questioning former railway minister Lalu Prasad in connection with the land for jobs scam case where people were allegedly given jobs in the railways in return for land parcels gifted or sold at cheap rates to the Yadav family and associates, officials said.
The examination of the RJD supremo comes a day after his wife and former Bihar chief minister Rabri Devi was quizzed at her Patna residence by the agency for nearly five hours, they said.
According to officials, a team of five CBI officials arrived in two cars at 10.40 am at the residence of Misha Bharti in Pandara Park on Tuesday where Prasad is currently residing and the questioning will continue during the day.
The Central Bureau of Investigation (CBI) has already filed a charge sheet in the case against Prasad, Rabri Devi and 14 others under charges of criminal conspiracy and provisions of the Prevention of Corruption Act, in which all the accused have been summoned on March 15, they said.
They said a fresh round of questioning is taking place as part of "further investigation" where the investigation agency is trying to ascertain the money trail and larger conspiracy.
The fresh questioning of ailing Prasad, who was convicted in a fodder scam, and his wife had evoked sharp criticism from opposition parties on Monday.
Prasad's son and Bihar Deputy Chief Minister Tejashwi Yadav termed the CBI action a result of his family's "relentless opposition" to the Bharatiya Janata Party (BJP).
"It is an open secret that probe agencies are acting against political opponents of the BJP and helping those who agree to align with that party," the RJD leader told reporters outside the Bihar Assembly on Monday.
Yadav said as the then railway minister, Prasad, had "no powers" to give employment in exchange for favours.
He got support from the Congress and the AAP which targeted the central government alleging that the saffron party wanted to "suppress" the voice of the opposition.
"Today Rabri Devi ji is being harassed. Lalu Prasad ji and his family have been harassed for years because they did not bow down," Congress general secretary Priyanka Gandhi Vadra tweeted.
AAP convenor and Delhi Chief Minister Arvind Kejriwal said targeting and harassing opposition leaders is wrong. The CBI had recently arrested the then Delhi deputy chief minister Manish Sisodia in the excise policy scam case.
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SEBI must name 'big players' profiteering at expense of small traders in F&O trading: Rahul Gandhi
New Delhi, Sep 24: Congress leader Rahul Gandhi on Tuesday said 90 per cent of small investors have lost Rs 1.8 lakh crore in Futures and Option (F&O) trading in three years and asked the SEBI to reveal the names of the "so called big players" profiteering at their expense.
More than 91 per cent, or 73 lakh, individual traders lost money in the F&O segment in FY24 with an average net loss of Rs 1.2 lakh per person, a study conducted by markets regulator Securities and Exchange Board of India (SEBI) revealed on Monday.
Further, 93 per cent of over 1 crore individual F&O traders incurred average losses of about Rs 2 lakh per trader (inclusive of transaction costs) during the three years from FY22 to FY24. The aggregate losses of such traders exceeded Rs 1.8 lakh crore during the period.
Gandhi, who is the leader of the Opposition in the Lok Sabha, said on X, "Uncontrolled F&O trading has grown 45X in 5 years. 90% of small investors have lost ₹1.8 lakh Cr in 3 years."
"SEBI must reveal the names of the so called 'Big Players' making a killing at their expense," the former Congress chief said.
The study said in FY24 alone, individuals incurred about Rs 75,000 crore in net losses.
It found the top 3.5 per cent of loss-makers -- about 4 lakh traders -- faced an average loss of Rs 28 lakh per person over the same period, inclusive of transaction costs.
On the other hand, only 7.2 per cent of individual F&O traders made a profit over the period of three years and only 1 per cent of individual traders managed to earn profits exceeding Rs 1 lakh, after adjusting for transaction costs.
Moreover, the number of retail traders, or individual traders, has almost doubled in two years to about 96 lakh in FY24 from about 51 lakh in FY22.
Although such investors contributed about 30 per cent to the total turnover in FY24, they are a clear majority in number terms, as 99.8 per cent of total traders in the equity F&O segment are individuals.
"The availability of sophisticated trading platforms and lower transaction costs have enabled retail investors to actively trade in options and futures contracts, contributing to the surge in market liquidity," SEBI said.
The regulator said rapid growth in F&O trading activity has highlighted the need for investor education and risk management practices, as a significant proportion of retail traders continued to incur losses in the market.
Uncontrolled F&O trading has grown 45x in 5 years.
— Rahul Gandhi (@RahulGandhi) September 24, 2024
90% of small investors have lost ₹1.8 lakh Cr in 3 years.
SEBI must reveal the names of the so called “Big Players“ making a killing at their expense.
