Delhi HC to hear Alapan Bandyopadhyay’s plea on CAT order transfer on Jan 24

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New Delhi, Jan 17 | The Delhi High Court on Monday said it would continue hearing on January 24 the plea filed by former West Bengal Chief Secretary Alapan Bandyopadhyay challenging the Central Administrative Tribunal (CAT) Principal Bench order which transferred his case concerning disciplinary proceedings initiated by the Centre from West Bengal to the national capital.

A bench of Justice Yogesh Khanna on Monday listed the matter for January 24 (Monday) for the next hearing. Solicitor General Tushar Mehta represented the Centre and said that the tribunal has an exclusive power to transfer the case from one bench to another, arguing that there is no prejudice in the matter.

During the course of the hearing, Alapan Bandyopadhyay’s counsel submitted that the CAT order was passed in complete violation of the principles of natural justice, equity, and fair play. The petitioner further submitted he was not even granted a right to file its written objections to the Transfer Petition.

Former civil servant Bandyopadhyay came into the limelight when he did not attend a meeting chaired by Prime Minister Narendra Modi in Kolkata in the wake of cyclone Yaas in May last year.

Accordingly, he was issued a show-cause notice under the Disaster Management Act. The bureaucrat, however, resigned from service, but was subjected to disciplinary proceedings initiated by the Centre.

He then approached the Central Administrative Tribunal (CAT) in Kolkata against these proceedings. Following this, the CAT’s Principal Bench in Delhi transferred the case to the national capital.

Bandyopadhyay then moved the High Court against CAT, New Delhi order. The High court on October 29, took strong objection to the manner in which the CAT Principal Bench favoured the Central government in transferring Bandyopadhyay’s case to itself and quashed CAT’s order. Thereafter, the Centre approached the apex court against the High Court order.

The apex court said that the Calcutta High Court did not have the jurisdiction to decide the plea of Bandyopadhyay. It also granted liberty to Bandyopadhyay to approach the jurisdictional High Court (Delhi) to challenge the order of the CAT Principal.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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