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SSC Scam: Its Not My Money, Claims Partha Chatterjee

SSC Scam partha Chatterjee
ED seized around Rs.50 crore cash from Partha Chatterjee aide Arpita Mukherjeeโ€™s residences during raids in connection with alleged SSC Scam.

Mumbai: Partha Chatterjee, former Bengal minister has today asserted that the money found did not belong to him, days after large sums of money and kilograms of gold were recovered from the residence of his aide Arpita Mukherjee in Kolkata. During the raids related to the alleged irregularities in teacher recruitment or the SSC scam, the Enforcement Directorate (ED) confiscated around 50 crore rupees in cash from two houses of Ms. Mukherjee.  Both Arpita and Mr. Chatterjee were both detained earlier this month.

When the former minister, who has since been suspended by his party, was taken to a central government-run hospital in Kolkata today for a checkup, reporters encircled him. The former minister said they would find out everything โ€œwhen the time comesโ€ in response to a query about if anyone was working against him. When questioned about the recovery of cash taken from Ms. Mukherjeeโ€™s properties, he responded, โ€œItโ€™s not my money.

In addition to the cash, the ED officials also discovered a sizable amount of foreign currency, gold, and documents of several locations where the scammers kept their properties.
Investigators were informed by Ms. Mukherjee that the piled up cash were the bribes she got for transfers and for assisting institutions get recognition.

Mamata Banerjee, the president of the Trinamool Congress and chief minister of West Bengal, is accused by the BJP of being complicit in the alleged irregularities as well. The Trinamool eventually changed its position and dismissed Mr. Chatterjee as a minister after originally coming to Mr. Chatterjeeโ€™s defence and accusing the Centre of abusing investigation agencies.

 

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Elon Musk Terminates The Twitter Deal,Faces Legal Threat

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The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement,โ€ Mr. Taylor tweeted.

Billionaire Elon Musk, the chief executive officer of Tesla, steps back from his $44 billion deal to buy Twitter, accusing the company of โ€œmisleadingโ€ statements about the number of fake accounts according to him, the social media company had breached multiple provisions of the merger agreement.

Twitterโ€™s chairman, Bret Taylor, said the board will pursue legal action to enforce the merger agreement.

 โ€œThe Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement,โ€ Mr. Taylor tweeted.โ€œWe are confident we will prevail in the Delaware Court of Chancery,โ€ Taylor wrote.

In the letter, disclosed in a Securities and Exchange Commission filing, Skadden Arps attorney Mike Ringler said that โ€œTwitter has not complied with its contractual obligations.โ€ Ringler claimed that Twitter did not provide Musk with the relevant business information he requested.โ€œSometimes Twitter has ignored Mr. Muskโ€™s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information.โ€

Ringer added, โ€œDespite public speculation on this point, Mr. Musk did not waive his right to review Twitterโ€™s data and information simply because he chose not to seek this data and information before entering into the Merger Agreement. In fact, he negotiated access and information rights within the Merger Agreement precisely so that he could review data and information that is important to Twitterโ€™s business before financing and completing the transaction.โ€

While Musk is now officially seeking to walk away from the deal, this saga is likely far from over. Under the terms of the agreement, Musk agreed to pay $1 billion if he backs out. But as Twitterโ€™s board chair indicated they would do, the company can seek to hold Musk to his original deal by suing him for walking away if they dispute that his reasoning should let him out of the contract.

Twitter has reason to seek to hold Musk to his original terms. Shares of Twitter were down 6% at $34.58 in extended trading. That is 36% below the $54.20 per share (on the day of the announcement of the deal) , when  Musk agreed to buy Twitter in April. Hence, Musk is apparently paying attention to the stock price too.

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