MUDA case: Court reserves verdict in ED's petition challenging Lokayukta 'B' report
Bengaluru: The Special Court for People's Representatives, which heard the petition filed by the Enforcement Directorate (ED) challenging the Lokayukta 'B' Report that stated Chief Minister Siddaramaiah had no role in the Mysuru Urban Development Authority (MUDA) illegal land allotment case, has reserved its verdict.
During the hearing, the Lokayukta's lawyer said that the petition filed by the ED is not allowed under the law. There is no clarity about the investigation in the ED's petition. The ED had given a letter and 27 documents to the Lokayukta police. Based on these documents, the Lokayukta Investigating Officer filed the 'B' Report.
The ED's letter was also leaked to the media. This letter and the documents are included on page 646 of the charge sheet. The Lokayukta Investigating Officer's opinion has also been recorded. The ED is not an aggrieved party and does not have the right to question the 'B' Report. The ED is not allowed to file such an interim application, lawyer Venkatesh Arabatdi argued, citing a Supreme Court verdict.
“The Lokayukta Investigating Officer examined all the documents collected by the police and others and gave their opinion. If the ED, a third party, is allowed to intervene, it will create complications,” lawyer Venkatesh Arabatdi urged, requesting that the ED's application not be considered.
Later, ED lawyer Madhukar Deshpande argued that the ED is a statutory informant under Section 66(2) of the PMLA Act. The ED’s powers were clarified in the Vijay Madanlal Chaudhary case. Judgments in the Martin and Nagaraj cases in 2022 also upheld the ED's powers. The Supreme Court ruled that ED and local police investigations should be complementary. In such cases, the aggrieved person does not need to be directly affected. The ED can also file a complaint against the 'B' Report, he argued.
following which, the lawyer for the complainant, Snehamayi Krishna, argued that if any person provides information, they should be considered a witness.
But while the Lokayukta police gave one version, the ED gave another. The Lokayukta said the police had not considered the ED's report.
The court, after hearing all arguments, reserved its order for April 15.
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.
Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
