Kolkata, April 27: West Bengal Finance Minister Amit Mitra has urged Union Finance Minister Arun Jaitley not to shift the headquarters of National Insurance Company from the city as a part of proposed merger of public sector general insurance companies.
In a communication to Jaitley, he also said any move to shift the insurance company's head office from the city will "strike a blow" to the emerging financial ecosystem in West Bengal and will "hurt the interest" of people of Bengal and eastern India at large.
"After the announcement in this year's Union Budget of the merger of the three public sector insurance companies, I am apprehensive that the headquarters of the National Insurance Company Ltd might now be shifted away from Kolkata," he said in a letter.
Mitra mentioned the insurance company with a turnover of Rs 16,472 crore and assets worth Rs 32,397 crore is the oldest general insurance company in India, located in Kolkata since its inception.
According to him, the insurance company is building its head office in the newly developed financial hub in New Town, Kolkata. About 24 banks and financial institutions have taken spaces in this hub for building their offices and State Bank of India has built its largest training centre in the hub.
"In this positive atmosphere of financial services, any move to shift the National Insurance Company Ltd headquarters from Kolkata will definitely strike a blow to this new financial ecosystem. I therefore, urge you not to move the National Insurance Company's headquarters from Kolkata," he said.
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Constitution of India supreme, its pillars must work together: CJI Gavai
Mumbai (PTI): Chief Justice of India B R Gavai on Sunday stressed that neither the judiciary nor the executive, but the Constitution of India was supreme and its pillars must work together.
Justice Gavai, who took oath as the 52nd CJI earlier this week, spoke at his felicitation ceremony and state lawyers' conference organised by the Bar Council Maharashtra and Goa here.
The Chief Justice said he was glad that the country has not just strengthened but has also developed on the social and economic fronts and continues to do so.
"Neither the judiciary nor the executive and the Parliament is supreme, but it is the Constitution of India which is supreme, and all the three wings have to work as per the Constitution," he said.
He underlined that the country's basic structure was strong, and all three pillars of the Constitution were equal.
"And all the organs of the Constitution must reciprocate and give due respect to each other," he said.
A book chronicling 50 remarkable judgments pronounced by Justice Gavai was released during the event.
