ED SUMMONS CONGRESS CHIEF SONIA GANDHI, RAHUL IN MONEY LAUNDERING CASE

The Enforcement Directorate Wednesday summoned Congress chief Sonia Gandhi and Rahul Gandhi in the money laundering case linked to the running of the National Herald newspaper, which is owned and run by the Congress party. The I-T probe against the Congress leaders arose from the investigation into a private criminal complaint filed by BJP leader Subramanian Swamy before a trial court in Delhi in 2013.

The matter that the Congress described as “a weird case of money laundering in which no money was involved” relates to Swamy’s allegations that the Gandhis formed a shell company called Young Indian to illegally acquire assets of National Herald newspaper worth Rs 2,000 crore. The assets belong to Associated Journals Limited (AJL), a firm that published National Herald, founded by India’s first Prime Minister Jawaharlal Nehru in 1938.

Swamy’s case is that the newspaper closed down in 2008 after a Rs 90.25 crore Congress loan failed to revive it and in 2010, a new company called Young Indian, with Sonia and Rahul Gandhi as directors, was incorporated with just Rs 50 lakh, but with rights to recover Rs 90.25 crore debt.

“It is an open and shut case, with Sonia and Rahul Gandhi owning 80 per cent shares of Young Indian. They maliciously acquired assets of AJL. It is a case of cheating and breach of trust,” Swamy again alleged yesterday.

With Sonia and Rahul Gandhi on bail in the matter since December 2015, the Congress asked why the ED took so long to act, having even closed the case in August 2015 for want of substantive evidence.

“Here is a strange case of alleged money laundering without money. There is AJL, which over the years published National Herald but commercially could not succeed... So, the Congress gives Rs 90 crore as financial support. This makes AJL an indebted company and, like other companies would do, AJL converts its debt into equity. The Rs 90 crore debt is assigned to a new not-for-profit company called Young Indian, which by definition cannot give dividends to shareholders or directors nor can make profits. Young Indian just holds AJL shares while AJL continues to hold profits as earlier,” senior lawyer and Congress leader Abhishek Manu Singhvi said.

Priyanka Gandhi Vadra said the Congress would not budge, bend or buckle.

BREAKING WITH CENTRE, BIHAR BJP BACKS NITISH KUMAR ON CASTE CENSUS

After an all-party meeting, Chief Minister and JD (U) leader Nitish Kumar said since the Centre has made it clear that a nationwide caste census cannot be done, the state has decided to conduct its own caste census.

Breaking ranks with the party on the issue of caste census, the Bihar unit of the BJP Wednesday joined all political parties of the state to unanimously decide in favour of a state caste census.

“All nine parties unanimously decided to go ahead with the caste census. We will soon get it approved by the (state) Cabinet and allocate funds for the purpose. We will duly advertise the process and set a completion deadline,” said Chief Minister Nitish Kumar.

The Centre has been pointing to what it calls the “problematic and erroneous” 2011 caste census. It maintains it is “impractical” to conduct such a census.

SATYENDRA JAIN SHOULD BE AWARDED ‘PADMA VIBHUSHAN’: KEJRIWAL

Delhi Chief Minister Arvind Kejriwal on Wednesday said Satyendar Jain, arrested by the Enforcement Directorate, should be awarded the Padma Vibhushan for giving the ‘mohalla clinics’ model that treats people free of cost. Kejriwal defended Jain as a “hardcore honest and patriot” person who was being framed in a “false case” and hoped the minister will come out clean after the ED probe.

“The country should be proud him as he gave the model of Mohalla Clinic that are being visited by people from the world, including (ex) Secretary General of the UN. He gave a health model that treats people free of cost. “I think, he should be given top awards like the Padma Bhushan or Padma Vibhushan,” Kejriwal said.

CONG SUMMONS HARYANA MLAs TO DELHI, MAY SEND THEM TO RESORT

The Congress leadership has summoned its 31 MLAs in Haryana, including top leader Bhupinder Singh Hooda, for a meeting in New Delhi Thursday amid apprehensions of cross-voting in the June 10 Rajya Sabha polling.

This comes after the son of expelled leader and former Union minister Venod Sharma — media baron Kartikeya Sharma — filed his nomination papers as an Independent candidate for Rajya Sabha from Haryana. Sharma is backed by the JJP’s 10 MLAs in Haryana and is likely to gain support of BJP as well as several Independent MLAs. The Congress candidate is Ajay Maken.

The party leadership will first hold a meeting of all the MLAs and will likely send them to a resort in Chattisgarh capital Raipur.

COVID DASHBOARD – INDIA

As of 0800 IST / June 2

from mohfw.gov.in ,

New Cases on Wednesday 3,712

Active Cases 19,509 (+1123)

Total Deaths (Deaths Yesterday) 5,24,641 (0)

INTERNATIONAL AFFAIRS

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US TO SEND PRECISION ROCKETS TO UKRAINE; BIDEN ASSURES PUTIN US NOT SEEKING NATO-RUSSIA WAR

As Russian troops edged closer to seizing control of the eastern city of Sievierodonetsk on Wednesday, the US and Germany pledged more advanced weapons to Ukraine, underscoring Western resolve to hobble President Vladimir Putin’s war effort. The US will send Ukraine advanced rocket systems and munitions as part of a new $700 million package of military equipment, President Biden and White House officials said on Tuesday. Biden announced his decision to provide the rocket systems, in an Op-Ed published online by New York Times. He said the delivery of the advanced weapons would enable Ukraine to “fight on the battlefield and be in the strongest possible position at the negotiating table. "

But a senior administration official said later that the weapons system — the most advanced provided to the Ukrainians to date — was promised only after direct assurances by Ukraine’s leaders that they would not use it against targets within Russian territory.

In his article, Biden also offered specific assurances for Putin that the US does not intend to provoke a wider conflict or the use of weapons of mass destruction. Biden stated bluntly in his article that he did not seek to overthrow Putin, despite his off-the-cuff remarks during a speech in Poland earlier this year, when he said the Russian president “cannot remain in power. ” “We do not seek a war between Nato and Russia,” he said. “As much as I disagree with Putin, and find his actions an outrage, the US will not try to bring about his ouster in Moscow. So long as the US or our allies are not attacked, we will not be directly engaged in this conflict, either by sending American troops to fight in Ukraine or by attacking Russian forces. ” “Standing by Ukraine in its hour of need is not just the right thing to do,” he wrote. “It is in our vital national interests to ensure a peaceful and stable Europe and to make it clear that might does not make right. ”

CHINA SAYS IT HELD ‘READINESS PATROL’ AROUND TAIWAN

The Chinese military said on Wednesday it had conducted a combat “readiness patrol” in the seas and airspace around Taiwan in recent days, saying it was a necessary action to respond to “collusion” between Washington and Taipei China, which claims democratically governed Taiwan as its own territory.

China has been particularly unhappy with US support for Taiwan. US President Biden angered China last week by appearing to signal a change in a US policy of “strategic ambiguity” on Taiwan by saying the US would become involved militarily if China were to attack the island. China PLA said that the combat “readiness patrol” had happened around Taiwan in recent days and was “a necessary action against US-Taiwan collusion”.

THE REST

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EMOTIONS RUN HIGH AT CREMATION OF HINDU TEACHER SHOT DEAD IN J-K

Slogans of "Rajni Bala amar rahe, amar rahe" rent the air as her husband, Raj Kumar, lit the pyre and a sea of mourners bid a tearful farewell to her.

Bala, who was posted at a govt school in Kulgam's Gopalpora, was shot dead by terrorists on Tuesday.

Kumar, also a govt school teacher, said in view of the targeted killings of Hindus in the Valley, he and his wife had repeatedly requested the administration to transfer her to a safer area. His and his wife's transfer orders came on Monday night. Tuesday was supposed to be Bala's last day at the school in Gopalpora, he said.

In view of increased threat perception, the Jammu and Kashmir administration on Wednesday decided to immediately post Kashmiri migrants employed under prime minister's special package and other employees belonging to the Jammu division in "secured locations'' in the Valley by June 6, officials sources said. The decision comes after a series of targeted killings of Hindu govt employees by terrorists in Kashmir and fears of their exodus from Kashmir.

PEACE CANNOT BE RESTORED BY ARMY AND POLICE IN KASHMIR: FAROOQ ABDULLAH

Asserting that peace cannot be restored by the use of army and police in Kashmir, National Conference President Farooq Abdullah batted strongly for bringing all political parties on board to find out a way to tackle this grave situation and said people want protection of their families.

Abdullah asked the govt to be very alert during forthcoming Amarnath yatra and said if there is one single untoward incident during the yatra, there will be countrywide repercussions.

“They (govt) will have to think about the security aspect. They will have to do something (to ensure security of these Hindu employees). Please call leaders of different political parties to find out way as to how we control this (security) crisis,” Abdullah said, adding, “Peace cannot be restored through army and police.”

SRI LANKA PLANS TO DEVELOP TRINCOMALEE PORT AS INDUSTRIAL HUB, STIRS GLOBAL INTEREST

Sri Lanka’s announcement that it plans to develop Trincomalee as an “industrial harbour” and will soon float tenders for this could see the economically beleaguered nation put up a couple of thousand hectares of land on lease to set up industries in a special economic zone and the associated development of the strategically located port, stirring up geopolitical interest in that part of the Indian Ocean.

The proposal to develop an industrial harbour in Trincomalee is a long-standing plan to monetise land that belongs to the Sri Lanka Port Authority, by getting foreign and local investment for a special economic zone, an industrial park, or an energy hub.

Besides India, the development of Trincomalee port has been of interest to several countries, including Japan and the US. It offered not just one of Asia’s finest natural harbours, but was also seen as a way to balance China’s influence in the country, and dominate the martime trade routes in the region through its involvement in Colombo port for container traffic and Hambantota port for cargo. Japan commissioned 2020 ADB study on the development of Trincomalee port.

GST COLLECTIONS SLIP BELOW RS 1.5-TRN MARK IN MAY

The collection of goods and services tax (GST) fell short of the expected Rs 1.5-trillion level in May, a month after hitting a record. The mop-up of Rs 1.41 trillion in May is 16 per cent (Rs 26,655 crore) lower than the record collection of Rs 1.68 trillion in April.

However, the latest figure is 44 per cent higher than Rs 97,821 crore a year ago. Also, the mop-up in May is still the fourth-highest since the inception of GST in July 2017.

The sequential dip in the GST inflows in May was on expected lines, as the April GST collection was enhanced by year-end flows. At the same time, the high YoY growth reflects the low base of the second wave.

AIR INDIA OFFERS VRS, 3K STAFF ELIGIBLE

In an attempt to bring in efficiency in its functioning, Tata Group-owned Air India has announced a voluntary retirement scheme (VRS) for permanent employees, who have completed 55 years of age or 20 years of continuous service with the airline. This move will help the airline let go about 3,000 employees.

Additionally, for some cabin crew, clerical and unskilled staffers, the VRS eligibility age has been relaxed from 55 years to 40 years. Employees who apply for Voluntary Retirement between 1st June and 30th June 2022, will also receive an additional incentive over and above the VRS settlement.

KK LET SLIP SIGNS OF COMING HEART ATTACK

The first among several tell-tale signs of Bollywood singer KK’s unease in his last stage performance at south Kolkata’s Nazrul Mancha on Tuesday was something uncharacteristic — he hurried offstage without singing ‘Pal’, his signature show-ender. But no one caught the signals.

Krishnakumar Kunnath, known by his stage name KK, died of a massive cardiac arrest an hour after the concert, where the crowd count was nearly three times the auditorium’s capacity. His death triggered a debate Wednesday on the level of physical stress performers suffer in overcrowded, stifling venues.

Second among the signs was that he was sweating profusely and requested for a drone camera to fly over his head, so that he could get some air from its rotors. Third, he kept asking the organisers to switch off the spotlights trained on him, probably because he could not bear the heat. Fourth — and this came to light only on Wednesday — was cops finding several sachets of antacid in his hotel room, an indicator that the singer had felt some uneasiness in his chest.

But as long as he was on stage, it was an energetic performance and he spent every ounce of his energy on it — jumping, blowing kisses, shaking hands with fans, posing for selfies and goading the audience to sing along.

US JURY RULES AMBER HEARD DEFAMED JOHNNY DEPP

A Virginia jury on Wednesday ruled that actor Amber Heard defamed ex-husband Johnny Depp in a widely watched six-week trial that featured explicit and graphic evidence and testimony detailing the former Hollywood couple’s soured relationship.

The jury also ruled in favor of Heard in some aspects of her counter-suit against Depp.

The jury awarded Depp $15 million in damages from Heard. The panel awarded Heard $2 million in damages.

Depp, the 58-year-old “Pirates of the Caribbean” star, sued Heard for $50 million and argued that she defamed him when she called herself “a public figure representing domestic abuse” in a newspaper opinion piece.

Heard, 36, countersued for $100 million, saying Depp smeared her when his lawyer called her accusations a “hoax.”

Depp has denied hitting Heard or any woman and said she was the one who turned violent in their relationship.

Depp and Heard met in 2011 while filming “The Rum Diary” and wed in February 2015. Their divorce was finalized about two years later.

PM MODI MEETS BOXING MEDALLISTS

Prime Minister Narendra Modi on Wednesday met India’s newest boxing world champion Nikhat Zareen and her teammates Manisha Moun and Parveen Hooda, who recently won bronze medals in the Istanbul event.

While Nikhat clinched the coveted gold in flyweight (52kg) division, Manisha and debutant Parveen earned podium finishes in the 57kg and 63kg categories respectively.

“Glad to have met boxers nikhat zareen, Moun and Parveen Hooda who made India proud at the Women’s World Boxing Championship. We had excellent conversations on their life journeys including passion towards sports and life beyond it. Best wishes for their future endeavours,” Modi said.

FRENCH OPEN: CILIC OUSTS RUBLEV IN EPIC BATTLE

Marin Cilic completed his set of Grand Slam semi-finals by knocking out No.7 seed Andrey Rublev 5-7, 6-3, 6-4, 3-6, 7-6(10/2) in a marathon showdown on Wednesday at Roland-Garros.

Cilic, a US Open champion in 2014 and a former runner-up at the Australian Open and Wimbledon, had never made it past the quarters in Paris but has now made the semis or better at all four majors.

After needing nearly six months to achieve his 2022 goal of reaching a first Grand Slam quarter-final, Casper Ruud’s next career milestone came fairly quickly by comparison.

The Norwegian was tested by Denmark’s Holger Rune over three hours and 18 minutes on Court Philippe-Chatrier, in the first all-Scandinavian quarter-final in Roland-Garros history.

But as another chapter in their region’s storied history was written in Paris, it was Ruud who had the last word. The 23-year-old surged past Rune and weathered a mid-match wobble to win 6-1, 4-6, 7-6(2), 6-3 and move into his first Grand Slam final four, where he will meet 2014 US Open champion Marin Cilic.

Semi Final Line up - Men's Singles

R.Nadal (5) vs A.Zverev (3)

C.Ruud (8) vs M.Cilic (20)

Semi Final Line up - Women's Singles

I.Swiatek (1) vs D.Kasatkina (20)

M.Trevisan vs C.Gauff (18)

ASIA CUP HOCKEY: INDIA BEAT JAPAN 1-0 TO CLINCH BRONZE MEDAL

The young Indian men's hockey team produced a spirited performance to beat Japan 1-0 and clinch the bronze medal in the Asia Cup in Jakarta yesterday.

After missing out of a place in the title clash on goal difference following an exciting 4-4 draw with South Korea on Tuesday, defending champions India came out with purpose and scored a field goal through Raj Kumar Pal as early as in the seventh minute of the game and then defended in numbers to seal the deal.

Trailing by a goal, Japan continued to attack and in the process earned two consecutive penalty corners in the 20th minute but the Indians defended in numbers to keep their lead intact.

Later in the day, Malaysia edged out Korea 5-4 in the final.

INDICATORS

Sensex 55,381 (-185), Nifty 16,523 (-62), Trading Value NSE (Rs.crores) 49,750

Nasdaq 11,994 (-87) Dow 32,813 (-177), S&P 4,101 (-31)

US$-Rs. 77.43 GBP-Rs. 97.15, Euro-Rs. 82.78, UAE Dhm-Rs.21.07, Can$-Rs. 61.21, Aus$- Rs. 55.61

GBP 0.79 /US$, Euro 0.93 /US$, Jap.Yen 129.59 /US$, Aus$ 1.39 /US$, Sing 1.37 /US$, Bang Taka 87.23 /US$, Can$ 1.26 /US$, Mal Ring 4.38 /US$,

Pak Re 197.57 /US$, Phil Peso 52.46 /US$, Russian Rouble 62.61 /US$, NZ$ 1.53 /US$, Thai Baht 34.30 /US$, Ukraine Hryvnia 29.22 /US$

Bitcoin - USD 29,787

Dollar Index 102.59 Brent Crude 114.00 BDI 2,633

Gold world Spot Price USD/aoz 1,845 India (Rs. per gm 24k/22k) 5,182 / 4,750, Silver (Rs. Per KG) 67,000

THOUGHT FOR THE DAY

Even peace may be purchased at too high a price. - Benjamin Franklin

OFF TRACK

Joe just arrives in America and needs a job and has no qualms about inventing the necessary qualifications. The sales manager is interviewing him.

"You say you have experience selling books?"

"Lots of it," replies Joe.

"And you have a Master`s in American history from the University of Michigan?"

"Correct," replies Joe. "History is my field of study."

"Well then," says the sales manager, "As soon as I can complete this form, we can get you started in our firm."

While the sales manager is making a few notations, Joe, obviously pleased with himself, begins to whistle. Looking around the room, he notices pictures of Washington and Lincoln on the walls.

Pointing to the portraits, he turns to the sales manager and says, "Fine looking men. Your partners?"