Court denies bail to 8 accused including Hiriyadka PSI
Perduru cattle trader Hussainabba murder case
Udupi, June 18: Among 11 accused in the murder of Perduru cattle trader Hussainabba, eight including Hiriyadka PSI DN Kumar and main accused Suresh Mendon alias Suri were denied bail by the principal district and sessions court here on Monday.
Remaining three accused Hiriyadka police station head constable Mohan Kotwal and, Bajrang Dal leader Prasad Kondadi were granted bail, another accused Tukaram who is absconding was given anticipatory bail. Advocate Vijay Kumar Shetty argued in favour of Kotwal and Mattaru Rathnakar Hegde argued in favour of remaining two accused.
Three police personnel who were in judicial custody had moved the bail application on June 6 and remaining seven accused had moved the bail plea on June 11. One accused had applied for anticipatory bail. But district public prosecutor Shanti Bai objected to these bail pleas.
After hearing the arguments from both the sides, Judge Venkatesh Nayak rejected the bail pleas of PSI DN Kumar, police jeep driver Gopal, Suresh Mendon, Chethan Acharya, Shailesh Shetty, Ganesh Nayak, Umesh Shetty and Ratan Poojary of Bajrang Dal.
Head constable Mohan Kotwal, who was granted bail, was booked for destroying the evidences, while murder case booked against Prasad Kondadi and Tukaram. Advocate Mattaru Rathnakar Hegde would file bail plea of another accused Dinesh Mendon on June 19.
Total 16 accused including three police personnel were identified in the case. Among them, 11 accused were arrested. Remaining five accused including Tukaram and Dinesh Mendon were absconding. Deepak Hegde who sold the cattle to Husainabba is in Mangaluru jail for his role in the murder.
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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.
