Chandrababu Naidu cleared by ED in ₹371 crore scam, Congress alleges 'Modi’s washing machine'
Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu has been cleared by the Enforcement Directorate (ED) in connection with the alleged ₹371 crore Skill Development Corporation scam. Naidu had been accused of misappropriating funds, causing a purported loss of over ₹300 crore to the state exchequer.
Reacting to the clean chit, Supriya Shrinate, head of the Congress party’s social media department, criticised the move on social media platform X, alleging that Naidu has benefitted from “Modi’s washing machine.” Shrinate pointed out that Naidu, who was arrested in September 2023 for the same scam, has now received a clean chit after aligning with the BJP-led government.
Naidu was arrested on September 9, 2023, based on an investigation by the Andhra Pradesh CID, under the leadership of the Jagan Mohan Reddy government. He spent 50 days in Rajamahendravaram prison before being granted interim bail on medical grounds on October 31, 2023, for cataract surgery.
The Andhra Pradesh High Court granted him regular bail on November 20, 2023, and a week later, the Supreme Court allowed him to resume public activities.
Meanwhile, the Andhra Pradesh Police have informed the Supreme Court that Naidu will not be arrested in connection with the FiberNet case until October 18, as his petition related to the Skill Development Corporation scam remains pending.
याद होगा सितंबर 2023 में चंद्रबाबू नायडू जेल गये थे
— Supriya Shrinate (@SupriyaShrinate) October 16, 2024
अब ED ने उसी ‘स्किल डेवलपमेंट कारपोरेशन’ से जुड़े घोटाले में उन्हें क्लीन चिट दी है
यह जादू इसलिए हुआ क्योंकि वह मोदी की ‘वॉशिंग मशीन’ में धुल गए
नरेंद्र मोदी का विरोध करो तो भ्रष्टाचारी, उनके साथ आ जाओ तो केस ख़त्म
ढोंगी! pic.twitter.com/QVePgL1szy
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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.
