Skip to main content

Posts

Showing posts from August, 2014

Constitutional Morality - Prime Minister and Chief Minister's wisdom!

The Supreme Court on Wednesday refused to recognize pending criminal cases against MPs as a disqualification for their appointment as ministers. However, the SC bench said that both the Prime Minister and chief ministers owe it to constitutional morality not to appoint persons with criminal background as ministers. The SC said it cannot read an additional disqualification for appointment of ministers other than what is provided in the Constitution. However, it said the Constitution gave such primacy to the PM that he will have to set an example of constitutional morality by not appointing such persons as ministers against whom serious criminal cases or corruption charges were pending. A five-judge constitution bench, headed by the CJI, gave its judgment on a PIL by Manoj Narula, who had sought direction against criminalization of politics. Courtesy: TOI 27th Aug 2014 "The strength or weakness of constitutional morality in contemporary India has to be understood in the light of a

History of Insurance of India - source: IRDA website

In India, insurance has a deep-rooted history. It finds mention in the writings of Manu ( Manusmrithi ), Yagnavalkya ( Dharmasastra ) and Kautilya (Arthasastra ). The writings talk in terms of pooling of resources that could be re-distributed in times of calamities such as fire, floods, epidemics and famine. This was probably a pre-cursor to modern day insurance. Ancient Indian history has preserved the earliest traces of insurance in the form of marine trade loans and carriers’ contracts. Insurance in India has evolved over time heavily drawing from other countries, England in particular.    1818 saw the advent of life insurance business in India with the establishment of the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency. 1870 saw the enactment of the British Insurance Act and in the last three decades of the nineteenth century, the Bombay Mutual

CJI seeks report from MP HC CJ in female judge sexual harassment case 12/08/2014 12.8.2014 (UNI) Chief Justice of India Justice R M Lodha has requested Madhya Pradesh High Court Chief Justice to investigate the allegations made by Gwalior female judge against the administrative judge of Gwalior bench for MP High Court. The female Gwalior additional district judge had resigned following sexual harassments and threats. MP High Court Judge had allegedly been pressurising the female judge to come to his bungalow all alone and perform a dance on an item song. She was transferred after she refused to oblige. Interestingly the victim was the chairperson of Gwalior district court sexual harassment against women committee. Justice Lodha has also requested MP High Court Chief Justice A M Khanvilkar to submit his report. UNI

CJI seeks report from MP HC CJ in female judge sexual harassment case 12/08/2014 12.8.2014 (UNI) Chief Justice of India Justice R M Lodha has requested Madhya Pradesh High Court Chief Justice to investigate the allegations made by Gwalior female judge against the administrative judge of Gwalior bench for MP High Court. The female Gwalior additional district judge had resigned following sexual harassments and threats. MP High Court Judge had allegedly been pressurising the female judge to come to his bungalow all alone and perform a dance on an item song. She was transferred after she refused to oblige. Interestingly the victim was the chairperson of Gwalior district court sexual harassment against women committee. Justice Lodha has also requested MP High Court Chief Justice A M Khanvilkar to submit his report. UNI

Parliament clears Securities Laws (Amendment) Bill 2014 - UNI

13.8.2014 (UNI) With the Rajya Sabha passing it by a voice vote, Parliament cleared a Bill seeking to empower the Securities and Exchange Board of India to crackdown on fraudulent investment schemes and instil confidence among investors. The Securities Laws (Amendment) Bill, 2014, moved in the Upper House by Finance Minister Arun Jaitley, has already been passed in the Lok Sabha on August 6, 2014. Replying to a debate, the Finance Minister said the Bill would make SEBI more effective. He said a regulation in the securities market was necessary to ensure that there was a fair play in the market. Responding to members' concerns, the Minister said the power to tap telephones was not given under the Act. 'There is no power to tap telephones under the Act. The power to tap telephones falls under the purview of the Telegraph Act. The Bill was later passed by voice vote. The legislation seeks to empower and strengthen SEBI to crackdown on fraudulent investment sche