Ex-diplomat convicted of passing information to ISI
New Delhi, May 18: A court here on Friday convicted former Indian diplomat Madhuri Gupta in a case related to passing on sensitive information to Pakistan's Inter-Services Intelligence (ISI).
Additional Sessions Judge Sidharth Sharma held Gupta guilty under sections of the Official Secrets Act (OSA) and criminal conspiracy under the Indian Penal Code (IPC).
"The conduct of the accused in passing on sensitive/secret information in the light of documents proved on record and evidence led by the prosecution categorically proves the charge under second part of Section 3(1) (c) of the OSA, punishable upto a period of three years, as well as under Section 5 of the OSA read with 120-B IPC," the court said.
However the court acquitted her of the stringent section 3(1) (Part-I) of the Official Secrets Act which attracts a maximum punishment of 14 years.
The court observed that Gupta's action could have been useful to the enemy country "which were strategically very important for the foreign policy of the country and its secrecy was of utmost important".
"In one of the e-mails, the accused is also promising collecting information regarding Hydro Electric Power Projects in Jammu and Kashmir which could have proved useful to the enemy country during war and destruction... could have proved serious crisis to the country," the court said.
The accused was unable to give such information but her intention of passing on such information and her going to Jammu on a false excuse of attending a wedding points to her intention of helping the enemy country, the court noted.
"She (Gupta) had been giving information regarding various postings of officers of defence, Ministry of External Affairs and High Commission of India as well as their family particulars which could have caused danger to the life and security of said officers and their family," the court said in its order.
The court will hear arguments on the quantum of sentence on Saturday.
Gupta revealed certain classified information to Pakistani officials and was in touch with two ISI officials, Mubshar Raza Rana and Jamshed.
As per the chargesheet filed in July 2010, Gupta was in a relationship with Jamshed, whom she planned to marry.
The chargesheet said she used a computer installed at her residence in Islamabad and a Blackberry phone to stay in touch with the two Pakistani spies.
The former diplomat claims she is innocent.
Once a second secretary at the Indian High Commission in Islamabad, Gupta was arrested on April 27, 2010 for spying and on charges of passing on information to the Pakistani intelligence agency.
On January 7, 2012, the trial court charged Gupta with spying under the Official Secrets Act. She was granted bail on January 10, 2012.
Police challenged the order and sought modification of the charges.
The Delhi High Court allowed the plea in February 2016 and directed to frame a charge against Gupta under the section having a maximum punishment of 14 years.
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Investors become poorer by Rs 12 lakh cr in three days of market fall
New Delhi, Jan 10: Investors' wealth tumbled Rs 12 lakh crore in three days of market slump due to uninterrupted foreign fund outflows and concerns over quarterly earnings.
Also, rising crude oil prices and a strengthening dollar index added to investors' pessimism.
In three days, the BSE benchmark Sensex tanked 820.2 points or 1.04 per cent.
On Friday, the 30-share BSE benchmark declined 241.30 points or 0.31 per cent to settle at 77,378.91. During the day, the benchmark gyrated 820.15 points between the day's high of 77,919.70 and low of 77,099.55.
The NSE Nifty dropped 95 points or 0.40 per cent to 23,431.50.
The market capitalisation of BSE-listed firms diminished by Rs 12,07,314.99 crore to Rs 4,29,67,835.05 crore (USD 5 trillion) in the three days.
From the 30-share blue-chip pack on Friday, IndusInd Bank, NTPC, UltraTech Cement, State Bank of India, Sun Pharma, Axis Bank, Tata Steel and Power Grid were among the major laggards.
Tata Consultancy Services jumped nearly 6 per cent after the IT services company reported an 11.95 per cent surge in the December quarter net profit to Rs 12,380 crore.
Devarsh Vakil, Head of Prime Research at HDFC Securities, said, "Strong quarterly earnings from TCS drove the IT index up 3.4 per cent, helping the market withstand a sharp sell-off."
However, despite broad gains across IT stocks, the Nifty fell for the third consecutive session, Vakil added.
Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv were the other big gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7,170.87 crore on Thursday, according to exchange data.
"Domestic market sentiment remained subdued due to rising crude oil prices, driven by supply concerns, and a strengthening dollar index. Despite the IT sector's resilience following positive early Q3 results, broader indices bled due to uncertainties surrounding Trump policies and high valuations.
"Consolidation may persist in the near term, yet investors are closely watching the US non-farm payroll data today for further guidance," Vinod Nair, Head of Research at Geojit Financial Services, said.
The BSE smallcap gauge dropped 2.40 per cent and midcap index declined 2.13 per cent.
Among BSE sectoral indices, power tanked 3.07 per cent, utilities (2.86 per cent), realty (2.64 per cent), industrials (2.08 per cent), commodities (2.05 per cent) and consumer durables (1.98 per cent).
BSE Focused IT jumped 3.17 per cent, IT (2.65 per cent) and teck (2.24 per cent) were the biggest gainers.
As many as 3,167 stocks declined while 827 advanced and 84 remained unchanged on the BSE.
"Markets continued its downward trajectory as the rupee dropping to new lows against the strengthening dollar has further dampened investors' sentiment. Amid concerns of subdued economic growth and expectations of a slowdown in the quarterly earnings, investors cut their bet on banking and mid & small cap stocks.
"With expensive valuations of Indian markets at large still a concern, investors would mostly resort to stock-specific activities," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.
