CBI nabs NCLT’s interim resolution professional, 2 others in graft case


Mumbai, May 5 | The Central Bureau of Investigation (CBI) has arrested an interim resolution professional (IRP) of the National Company Law Tribunal (NCLT), Mumbai, and two others including a jeweller in a bribe case of Rs 2 lakh, here on Thursday.

Following a complaint lodged against the IRP, Subrata Maity and others for demanding Rs 20 lakh to settle a NCLT matter of the complainant’s company, the CBI started its probe.

The complainant also stated that the accused demanded an advance of Rs 2 lakh which would be collected by a private person in Pune.

The CBI laid a trap and caught the private person, Ashish Somani, who was working for R.J. Jewellers in Navi Mumbai.

Later, he led them to Maity and the jewellery firm’s proprietor Ruchit Tanka whose role also came to light and they were arrested.

The CBI raided the premises of the accused trio in Pune and Navi Mumbai which led to recovery of incriminating documents and they are being produced before a Special CBI Court in Pune.

Source: IANS

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Share Market Closing Bell: Market ends the week in green, Sensex surges 1,534 pts and Nifty sinks below 15,850

Share Market Closing Bell: Market ends the week in green, Sensex surges 1,534 pts and Nifty sinks below 15,850

The NIFTY 50 recouped the previous day’s losses and ended at 2.89 percent higher on strong global cues after China cut key lending rates. Nifty continued its upside rally throughout the day as it ended at 16266.15 levels. Bank nifty closed the session at 34276.40 level with a gain of 960 points. VIX closed at 23.10 down by 5.94%.

48 stocks out of NIFTY 50 closed in green which suggest broad based buying. All the sectoral indices are trading higher with metal, pharma, PSU bank and realty indices up 2-3 percent each. Stocks like DRREDDY, JSWSTEEL, NESTLEIND, TATAMOTORS & TATASTEEL were the top gainers, While SHREECEM & UPL were only two losers. The Nifty has formed Open Bullish Marabozu on a daily time frame which indicates upside momentum for an upcoming session.

Moreover, Nifty has been trading in a range of 15750-16410 levels throughout the week, crossing either side can direct further direction. In addition, Nifty has given a closing above 9-Day Moving Average which indicates a bounceback from lower levels can be seen.

However, the momentum indicators MACD & Stochastic were trading witha positive crossover & reversed from oversold zone on an hourly chart which suggest a northward journey in Nifty. The Nifty may find Strong support around16000 levels, while on the upside 16410 may act as an immediate hurdle. On the other hand, Bank nifty has support at 33200 levels while resistance at 34800levels.

Palak Kothari
Research Associate
Choice Broking

Source: Choice India


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