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It is time that the inordinately prolonged enforcement and execution proceedings of foreign awards in India draw legislative and judicial attention.
However, it has been shipping rice to friendly and neighbouring nations such as Indonesia, Senegal, Gambia, Nepal, Bhutan, Sri Lanka, Maldives, Malaysia, Indonesia, Vietnam and Iran on a government-to-government basis. This is being facilitated by the National Cooperative Exports Ltd (NCEL), a government export body which was set up under the Multi-State Cooperative Societies (MSCS) Act, 2002.
ED had last month summoned both Prasad and Yadav for questioning, but they haven't appeared before the agency so far. As per available information, they will be summoned again. The agency will confront Prasad and Yadav with "damning" statements of Amit Katyal, a co-accused in the case who was charge-sheeted earlier this week along with Rabri Devi and others, and other evidence.
It might be mentioned here that a month before his arrest, in November last year, Katyal had petitioned the Delhi HC seeking stay on any coercive steps by the ED. Interestingly, Katyal in his petition, reviewed by ET, had claimed that he was a protected witness of the Central Bureau of Investigation (CBI). Katyal had claimed that he had "fully cooperated" with the CBI which resulted in a charge sheet filed by the agency. He had also claimed that he was cited as a witness by the CBI in its charge sheet.
While Nifty has seen one of its most successful years in 2023, here are the biggest midcap losers on the index this year.