SC rules NGT has powers to take suo moto cognisance on environmental issues


New Delhi, Oct 7 | The Supreme Court on Thursday ruled that the National Green Tribunal (NGT) has power to take suo motu cognisance – on the basis of letters, representations, and media reports — and can initiate proceedings on its own on issues pertaining to the environment.

A bench of Justices A.M. Khanwilkar, Hrishikesh Roy, and C.T. Ravikumar delivered the judgment on a batch of petitions which raised the issue whether the NGT has suo motu jurisdiction.

Senior advocate Sanjay Parikh had argued that the NGT has been conferred powers to pass orders for the restitution of environment, hence it can exercise suo motu powers. However, a battery of senior advocates opposed his arguments, stating that only constitutional courts can exercise suo motu powers and a statutory tribunal like the NGT has to act within the confines of its parent law.

Additional Solicitor General Aishwarya Bhati, representing the Centre, held that the NGT does not have the power to take cognisance of a matter on its own. But she also contended that the tribunal’s powers cannot be bound by procedural constraints.

“This is a peculiar tribunal dealing with environmental matters. Often, environment ends up being nobody’s baby,” she said.

The bench had queried her that if the tribunal were to receive an information in connection with environment, will it not be duty bound to initiate process? The ASG responded that once a letter or communication is received by the tribunal, it is within its power to take cognisance of it.

On September 8, the bench had reserved verdict on the issue. Senior advocate Arvind Grover, amicus curiae in the case, had opined that the NGT cannot exercise suo motu powers on the basis of letters, representations, or media reports.

Source: IANS

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Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.

bhaskarlive market closing

The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.

In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.

Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.

Om Mehra
Research Associate
Choice Broking

Source: Choice India


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