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Madhya Pradesh Chief Minister nephew Ratul Puri arrested in bank fraud case: Congress claims move ‘politically motivated’

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[vc_row][vc_column][vc_column_text]Madhya Pradesh Chief Minister Kamal Nath’s nephew Ratul Puri, the former Executive Director of Moser Baer India Limited (MBIL), was arrested on Tuesday (August 20) by the Enforcement Directorate in connection with a Rs 354-crore bank fraud case filed by Central Bank of India, an agency official said.

The Chief Minister came out defending his nephew saying that the action against his relative was mala fide. He also said that he has full faith in the country’s judiciary and exuded confidence that Puri will come out clean. 

“I have no connection with the business they are doing. To me, it appears to be a purely mala fide action. I have full faith that courts will take a corrective stand in this,” he said.

Several Congress leaders have also come out in support of Puri, terming the arrest as “politically motivated”.

Also Read: Delhi High Court issues notice to Centre on Shah Faesal’s detention

Three days prior to the arrest, the Central Bureau of Investigation (CBI) registered a case against Puri, his company, his father and Managing Director Deepak Puri, Directors Nita Puri (Ratul’s mother and Kamal Nath’s sister), Sanjay Jain and Vineet Sharma for alleged criminal conspiracy, cheating, forgery and corruption. 

The case has been registered based on a complaint from Central Bank of India. In its complaint to CBI, the bank alleged that the company was taking loans from various banks since 2009 and went for debt restructuring a number of times.  When it was unable to pay the debt, a forensic audit was done and the account was declared as “fraud” by the Central Bank of India on April 20, 2019, the bank alleged.

“The MBIL has committed fraud and cheated the complainant bank thereby making a wrongful gain to themselves and a wrongful loss to the lender bank which is a custodian of public money,” the complaint to the CBI said.

The CBI on Sunday (August 18) had also carried out searches at six locations, including the residences and offices of the accused directors.

The Moser Baer Company manufactures optical storage media like compact discs, DVDs and solid state storage devices. According to the bank statement, Puri had resigned from the post of Executive Director in 2012, while his parents continued to be on the board.

Meanwhile, the Moser Baer released a statement terming the arrest as unfortunate.  “The arrest by ED is unfortunate, the company has operated in accordance with all legal compliances and the case now, when Moser Baer is in NCLT (National Company Law Tribunal), is motivated,” the statement read.

Also Read: INX Media case: Chidambaram denied protection from arrest by HC, may move Supreme Court

The ED summoned Puri on Monday (August 19) in connection with the high-profile AgustaWestland VVIP choppers corruption case where he’s facing a non-bailable warrant. He’s currently on bail as interim protection from arrest was granted to him by the Delhi High Court on August 14. 

However, Puri was arrested under the Prevention of Money Laundering Act (PMLA) case  that emerged from the CBI FIR even before the court’s hearing in Agusta case. He will be presented before a court in Delhi where the agency will seek his custody to interrogate him in connection with the loan fraud case.[/vc_column_text][/vc_column][/vc_row]

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Former Prime Minister Manmohan Singh, architect of India’s economic reforms, passes away at 92

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Manmohan Singh

In a moment of national sorrow, former Prime Minister Manmohan Singh has passed away at the age of 92 due to age-related medical conditions. The announcement was made by the All India Institute of Medical Sciences (AIIMS) in Delhi, where Singh had been receiving treatment in recent days.

According to the statement released by AIIMS, Singh was found unconscious at his residence earlier today, December 26, 2024. “He was promptly administered resuscitative measures at home and brought to the AIIMS medical emergency at 8:06 pm,” the statement said. Despite all efforts to revive him, he was declared dead at 9:51 pm.

Manmohan Singh, who served as the Prime Minister of India for two consecutive terms from 2004 to 2014, was a towering figure in Indian politics. His tenure is marked by his leadership in the Congress-led United Progressive Alliance (UPA) government. He was widely recognized for his calm and intellectual approach to governance, though it was his role as Finance Minister in the early 1990s that cemented his legacy as one of India’s most influential political figures.

Singh’s role in the landmark economic reforms of 1991, which included liberalizing India’s economy, reducing trade barriers, and opening the doors to foreign investment, is often credited with saving the country from economic collapse. These reforms transformed India’s economic landscape, setting the stage for its rapid growth in the subsequent decades.

In the wake of his passing, tributes poured in from across the political spectrum. Congress leaders Priyanka Gandhi Vadra and Sonia Gandhi arrived at AIIMS soon after the news of Singh’s hospitalization became known. Congress President Mallikarjun Kharge and party MP Rahul Gandhi, currently in Belagavi for a Congress Working Committee meeting, are en route back to Delhi, according to reports.

Singh’s death marks the end of an era in Indian politics. He is survived by his wife, Gurcharan Singh, and their three daughters. Known for his humble and dignified nature, Singh’s contributions to India’s economic transformation will continue to resonate for generations to come.

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PM Modi says need to equip youth with skills in emerging technologies like AI

He acknowledged the significant contribution of youth energy to India’s advancement and reaffirmed his government’s commitment to nurturing young talent and boosting their self-confidence.

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Prime Minister Narendra Modi on Thursday emphasised the importance of adapting to the rapidly evolving world, noting that emerging needs, expectations, and future directions underscore the necessity for a modern approach in equipping young people with skills in emerging technologies like artificial intelligence and machine learning.

He acknowledged the significant contribution of youth energy to India’s advancement and reaffirmed his government’s commitment to nurturing young talent and boosting their self-confidence.

In his remarks during the ‘Veer Baal Diwas’ celebrations, Modi stated, “This era has moved beyond machines to machine learning. AI is taking centre stage, and we can see its application replacing conventional software. It is essential to make our youth future ready to tackle these challenges.” The observance of ‘Veer Bal Diwas’ honors the courage and sacrifices of Guru Gobind Singh’s four sons, esteemed figures in Sikhism.

The Prime Minister outlined that the government’s policies are focused on youth, encompassing various sectors, including the startup ecosystem, space economy, sports and fitness, fintech, manufacturing, skill development, and internship programs.

He highlighted that the new National Education Policy is designed to modernize education, facilitating expansive learning opportunities.

Additionally, Modi announced the launch of the ‘Suposhit Gram Panchayat Abhiyan,’ aimed at fostering healthy competition among village panchayats to eliminate malnutrition, thus laying the groundwork for a developed India. He encouraged the youth to excel in their respective fields, whether in railways, semiconductors, travel, or astronomy.

The Prime Minister highlighted that youth power is at the forefront of driving revolutions across various fields, including startups, science, sports, and entrepreneurship. He emphasised that all government policies—whether related to the startup ecosystem, the future of the space economy, the sports and fitness sector, fintech and manufacturing industries, or skill development and internship programs—are designed with a youth-centric focus to benefit young people.

During the Veer Bal Diwas ceremony, Modi paid tribute to the “unparalleled” sacrifices of Guru Gobind Singh’s sons, the Sahibzadas, who chose “unwavering courage and faith over submission to the Mughal Empire’s oppression.” He remarked that the government established this day of remembrance to honor the bravery of the Sahibzadas, stating, “Their legacy continues to inspire.”

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Mahatma Gandhi’s legacy under threat from Modi government: Sonia Gandhi

Approximately 200 leaders, including CWC members, special invitees, party officials, and former chief ministers, convened for the Congress meeting in Belagavi.

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Congress Parliamentary Party (CPP) chief Sonia Gandhi on Thursday said Mahatma Gandhi’s legacy is under threat from those in power in New Delhi and the ideologies and institutions that have nurtured them. She urged the party workers to bolster their commitment to addressing these challenges with determination.

As the Congress Parliamentary Party Chairperson, Gandhi slammed the Narendra Modi government and the RSS, urging action against the forces she accused of fostering the toxic environment that contributed to Mahatma Gandhi’s assassination.

“It was a transformative moment in our nation’s history. Today, we recommit to honoring, safeguarding, and advancing the legacy of Mahatma Gandhi, who has always been and will remain our fundamental source of inspiration,” she stated.

“His influence shaped and guided the remarkable leaders of his time. However, his legacy now faces threats from those in power in New Delhi, along with the ideologies and institutions that support them,” she continued in her message.

“These organisations never stood for our freedom; they vehemently opposed Mahatma Gandhi and are responsible for creating a toxic environment that led to his assassination. Furthermore, they celebrate his assassins,” Gandhi asserted.

She highlighted that “Gandhian institutions across the nation are under assault” and expressed that it is fitting for this meeting to be named Nava Satyagraha Baithak. She called for a renewed determination to confront these forces with all available strength.

Additionally, she encouraged party workers to unite and tackle the challenges ahead with urgency and renewed enthusiasm.

Congress President Mallikarjun Kharge, also speaking at the meeting, accused the BJP of disrespecting freedom fighters, particularly B.R. Ambedkar. He alleged that Prime Minister Narendra Modi and his administration refuse to acknowledge the error made by Home Minister Amit Shah regarding his “extremely insulting” comments about Ambedkar.

In response, the BJP condemned the Congress’s gathering, labeling the Belagavi session as a “monumental mockery of the principles of Mahatma Gandhi.” Senior BJP leader C.R. Kesavan remarked that “Rahul Gandhi’s Congress stands in stark opposition to Mahatma Gandhi and his ideals.”

Approximately 200 leaders, including CWC members, special invitees, party officials, and former chief ministers, convened for the Congress meeting in Belagavi.

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