HC dismisses petition by Chinese national seeking nod to go back to her country; cites pending trial
Bengaluru, Jul 9: The Karnataka High Court has dismissed a petition filed by a Chinese national accused in alleged loan app scams, seeking permission to travel back to her country pending trial on the grounds of meeting her ailing father.
A single judge bench of Justice M Nagaprasanna passed the order on the plea by 42-year-old Hu Xiaolin, who is allegedly involved in a series of Chinese loan app scams known as “Power Bank app scam”, in which customers were coerced and cheated of several crores of rupees in Karnataka and Kerala.
The court took note of the Chinese Criminal Code, according to which once a person becomes an accused, he is not permitted to move out of the country till the trial gets completed.
"The petitioner being a Chinese national is undoubtedly aware of the law that prevails in China in treatment to (of) a foreign national or an alien, as described in its laws. If laws in China prohibit such exit of a foreign national under the aforesaid circumstances, laws of India cannot be made flexible on any score whatsoever, as it is a case of a Chinese national who is involved in multiple crimes," it said.
ALSO READ: 23 school vehicle drivers booked for driving under influence of alcohol in Bengaluru
The court also said that, if the petitioner is permitted to move out of the shores of the nation, despite the plethora of crimes pending against her, it would become impossible to conclude trial, as it would be permitting her to flee justice and create a dent in the majesty of law.
According to sources, Xiaolin had come to India in 2017 and married Anas Ahmed, an Indian national, and is residing at present in Bengaluru.
The cases were registered against Xiaolin and her husband based on the complaint filed by Razorpay Software Private Limited, a payment gateway.
The petitioner was arrested and released on bail conditions which include that she would not leave the country without prior permission from the court.
According to sources, the petitioner submitted that the Kerala high court had permitted her to visit China and come back in connection with cases registered in Kerala.
To this, the Karnataka HC said: "The High Court of Kerala granting permission to travel will not bind this Court to consider the issue on merits, as the order passed by the High Court of Kerala does not indicate the crimes or the practice prevailing in China to other nationals including Indian nationals. Therefore, seeking permission to travel abroad does not merit any consideration in the peculiar facts of this case."
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Silver, gold script sharp comeback as US-Iran ceasefire calms global jitter
New Delhi (PTI): Silver prices surged Rs 11,000 to Rs 2.51 lakh per kilogram in the national capital on Wednesday, while gold advanced to Rs 1.56 lakh per 10 grams amid strong global cues after the US and Iran agreed to a two-week ceasefire.
According to the All India Sarafa Association, the white metal zoomed by Rs 11,000, or nearly 5 per cent, to Rs 2,51,000 per kg (inclusive of all taxes) from Tuesday's closing level of Rs 2,40,000 per kg.
Gold of 99.9 per cent purity also appreciated by Rs 3,200, or 2.09 per cent, to Rs 1,56,400 per 10 grams (inclusive of all taxes). It settled at Rs 1,53,200 per 10 grams in the previous market session.
Analysts said bullion prices strengthened as geopolitical tensions in West Asia eased, triggering a broader relief rally across global financial markets.
Gold maintained strong gains and approached a three-week high on Wednesday as improved global risk sentiment, along with a pullback in US dollar and crude oil prices, boosted demand for precious metals, Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
The positive momentum came after an agreement reached just before a self-imposed deadline by US President Donald Trump, who confirmed a pause in military action, conditional on the reopening of the Strait of Hormuz.
Iran also signalled that safe passage through the Strait would be possible during the ceasefire period, further easing supply concerns.
In the overseas markets, spot gold gained USD 97.48, or 2.07 per cent, to USD 4,803.33 per ounce, while silver was trading 6 per cent higher at USD 77.33 per ounce.
"Spot gold in the international markets surged on Wednesday after the announcement of a temporary ceasefire in the Iran war," Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said.
He added that commodities, bonds and equities rallied after crude oil prices crashed nearly 20 per cent on the ceasefire announcement, as a decline in energy rates will reduce interest rate hike chances by global central banks, including the US Federal Reserve.
Echoing similar sentiments, Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said precious metal prices rose up to 7 per cent as the dollar slipped below 99 on US-Iran ceasefire relief, temporarily easing fears of prolonged energy supply shocks and the associated inflationary fallout.
The rally in bullion ran alongside a broader relief rally in global markets. Throughout the conflict, gold's traditional safe-haven appeal has been tempered by liquidity stress, as investors were compelled to liquidate bullion positions to cover losses elsewhere in their portfolios, she added.
"With the ceasefire conditional and compliance around the Strait of Hormuz still uncertain, any signs of a breach or collapse could quickly reverse sentiment and renew downside risk across precious metals," Chainwala said.
