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Madras High Court restrains Tamil Nadu government from unveiling MGR Arch, allows construction

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Madras High Court

Chennai | The Madras High Court has allowed the Tamil Nadu government to go ahead with the construction of the MGR Centenary Arch here but restrained from inaugurating it.

The 66-feet-wide and 52-feet-tall structure will commemorate the birth centenary of late chief minister and AIADMK founder M G Ramachandran, who was popularly known as MGR.  It will come up on the arterial Kamaraj Salai, just off the Marina Beach where the late matinee idol-turned politician’s memorial is located.

A bench comprising justices M Sathyanarayanan and N Seshasayee, however, restrained the government from inaugurating the arch till a public interest litigation opposing it is disposed. Almost 60 percent of the arch’s construction has been completed and the inauguration is scheduled for the next month. The bench gave the order when the petition came up for hearing Monday.

Referring to allocation of Rs 2 crore for the arch’s construction, the bench observed that the government concentrated on such things while people were made to run from pillar to post to get compensation for lands acquired by it. The bench said cases related to about Rs 850 crore of compensation were pending in subordinate courts in Tamil Nadu for the past 15 years.

Petitioner D Dinesh Kumar, an advocate, contended that the construction of the arch on the road was causing hindrance to the people and it was for “political supremacy.”  He said as per the Tamil Nadu Highways Act, no permanent structure can be constructed either on the middle or the pathway of a road. Hence, any construction was unauthorised and an encroachment, in respect to highways, Kumar claimed.

Tamil Nadu Advocate General Vijay Narayan submitted that the place where the arch was being built did not fall under the highways department but within corporation limits. The bench posted the matter for further hearing to December 17.

The ruling AIADMK celebrated the birth centenary of MGR, as Ramachandran was popularly known, last year on a grand scale and Chief Minister K Palaniswami laid the foundation stone for the arch in August this year. A charismatic leader, MGR a recipient of Bharat Ratna, ruled the state from 1977 till his death in 1987 after breaking away from the DMK and forming the AIADMK in 1972.

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Hasmukh Adhia rumoured to be the next RBI governor: sources

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Hasmukh Adhia

New Delhi | After the resignation of Reserve Bank of India governor Urjit Patel on Monday, former Finance Secretary Hasmukh Adhia is rumoured to be the next RBI governor, as per unconfirmed sources.

Adhia, a 1981-batch Gujarat cadre officer of the Indian Administrative Services (IAS), served as a secretary in the Department of Financial Services after Narendra Modi became the Prime Minister.  A close of aide of  PM Narendra Modi and Arun Jailtley retired on November 30 this year.

Adhia also served as the Union Revenue Secretary and Union Financial Services Secretary, in the Union Government which makes his case stronger for the post of the RBI governor.

Earlier Urjit Patel on Monday resigned from the post of Reserve Bank of India (RBI) governor. Patel’s three year team was to end in September 2019. Patel is also the first RBI governor to resign since 1990.

Submitting his resignation, Urjit Patel cited personal reasons and stepped down with immediate effect. He said, “On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years,” Urjit Patel said in a statement. “The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future,” he added.

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Breaking: Vijay Mallya to be extradited to India

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Vijay Mallya

London | In what could be termed as end of the party for the king of good time, Liqour baron Vijay Mallya to be extradited to India as the London court gives its nod for the same

London’s Westminster Magistrates Court orders the extradition of Vijay Mallya to India. The Court has further referred the matter of extradition of Vijay Mallya to India to the Secretary of State. The Central beaurue of Investigation has welcomed the decision of the London’s court. Chief Magistrate Judge Emma Arbuthnot announcing the order stated that he found prima facie a case against Vijay Mallya for fraud, conspiracy and money laundering.

Speaking on the extradition CBI said,”We hope to bring him soon and conclude the case. CBI has its own inherent strengths. We worked hard on this case. We are strong on Law and facts and we were confident while pursuing extradition process.”

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Urjit Patel resigns from RBI governor’s post

Anil Rajpurohit

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Urjit Patel

New Delhi | Urjit Patel on Monday resigned from the post of Reserve Bank of India (RBI) governor. Patel’s three year team was to end in September 2019. Patel is also the first RBI governor to resign since 1990.

Submitting his resignation, Urjit Patel cited personal reasons and stepped down with immediate effect. He said, “On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years,” Urjit Patel said in a statement. “The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future,” he added.

RBI Governor Urjit Patel earlier appeared before a parliamentary panel to brief on demonetisation and NPA situation in the public sector banks, among other issues. The RBI Governor appeared before the panel days after the central bank’s face-off with the finance ministry over issues ranging from appropriate size of reserves to be maintained by RBI to easing of lending norms for small and medium enterprises.

Business Editor of HW Business and Finance Akhilesh Bhargav states it is not only the failure of the finance ministry but the board of the Reserve Bank of India.

Urjit Patel who was appointed as the 24th Governor of the Reserve Bank of India (RBI) succeded Raghuram Rajan on 4 September 2016.

 

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