Kerala CM urges PM Modi to dispel perception that Sisodia was arrested for political reasons
Thiruvananthapuram (PTI): Kerala Chief Minister Pinarayi Vijayan on Tuesday shot off a letter to Prime Minister Narendra Modi over the arrest of former Delhi Deputy Chief Minister Manish Sisodia urging him to dispel the perception that the AAP leader was being targeted for political reasons.
The CBI had arrested Sisodia on February 26 in connection with alleged corruption in the formulation and implementation of the now-scrapped Delhi excise policy for 2021-22.
Vijayan, in his letter, said the arrest of Sisodia has "lent further force to the argument" about certain actions of the central investigation agencies.
The Chief Minister said there was no incriminating evidence like cash seizure in case of Sisodia.
Vijayan said the AAP leader is an elected representative of the people and has been appearing before the investigating agencies in response to their summons.
"Unless the arrest was an imperative for preventing the impediment to the investigation, the desirable act would have been to avoid it. As per information coming out in public domain, nothing incriminating like cash seizure has taken place in the case of Sisodia. While law has to take its course, it is equally important that the widespread perception that Sisodia is being targeted for political reasons and need to be dispelled," Vijayan said in his letter.
The CPI(M) leader said any excessive actions on part of anyone concerned should be avoided as emphasis should be on the principle of cooperative federalism.
Vijayan, while refraining from commenting on the merits of the case under investigation, said the arrest of Sisodia has "lent further force to the argument" about actions taken by the probe agencies.
"It is the golden principle of natural justice that justice should not only be done, but seem to be done too," he pointed out.
The Chief Minister also expressed hope that guidance from the Prime Minister will go a long way in changing the present perception, which is reflected in the letter of the important political leaders including some CMs in this matter.
Sisodia is currently lodged in judicial custody till March 20.
Vijayan's letter comes two days after leaders of eight opposition parties, including Telangana Chief Minister K Chandrashekar Rao and West Bengal CM Mamata Banerjee, wrote a joint letter to the Prime minister alleging "blatant misuse of central agencies" against members of the opposition.
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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.
