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CBI, ED preparing chargesheet to strengthen extradition case; Mallya alleged to have systematically duped banks by repaying some loan and borrowing more after gaining their confidence Strengthening the case for fugitive businessman Vijay Mallya's extradition from the United Kingdom, the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) are reported to be preparing a charge sheet alleging the former liquor baron laundered a major chunk of the Rs 6,027-cr loan taken for the defunct Kingfisher Airlines. Mallya, the 61-year-old chief of the erstwhile Kingfisher Airlines who owes over Rs 9,000 crore to IDBI Bank and various other Indian banks, had fled India to escape legal proceedings in connection with default on the loan repayment. The money, borrowed from a consortium of banks led by State Bank of India, was allegedly diverted through shell firms in seven countries, including the United States (US), the UK, France and Ireland, The Times of I...

Democrats are united against the bill, saying it would end healthcare coverage for millions LATEST NEWS : US Senate Republicans have voted in favour of a floor debate on their efforts to re-write healthcare policy, with Vice President Mike Pence breaking the tie. The Senate on Tuesday decisively rejected a Republican proposal to repeal-and-replace Obamacare as Senator John McCain returned from Arizona to applause from fellow senators to cast a critical vote for Republicans, CNN reported. The floor debate will on Wednesday morning continue to overhaul the Affordable Care Act, even though there are no guarantees the votes are there to eventually pass the bill. Two GOP senators -- Susan Collins and Lisa Murkowski -- sided with all Democrats in opposition, meaning all remaining Republicans and Pence were necessary for the motion to pass. The vote came as Senate Majority Leader Mitch McConnell and President Donald Trump dared their fellow Republicans to block th...

US President claimed that the climate deal was unfair Former US President Barack Obama and other political leaders on Firday slammed Donald Trump's decision to withdraw the US from the historic Paris climate deal, saying he has squandered America's global leadership and put the country with "a small handful of nations that reject the future." "The nations that remain in the Paris Agreement will be the nations that reap the benefits in jobs and industries created. I believe the United States of America should be at the front of the pack," Obama said in rare a statement. "But even in the absence of American leadership; even as this administration joins a small handful of nations that reject the future; I'm confident that our states, cities, and businesses will step up and do even more to lead the way, and help protect for future generations the one planet we've got," he said. He said it was the steady, principled American ...

India is being quite strategic in certain sectors, said Dean of School of Public Policy, Robert Orr India is "thinking big and moving big" to catch up fast in development as it lags behind its giant neighbour China, offering tremendous opportunities to a country like the US, American lawmakers have been told. "India is moving quite quickly in a number of areas as well, again, on renewable energy, which is kind of a golden thread running through this hearing. India is thinking big and moving big," Robert Orr, professor and dean, University of Maryland, School of Public Policy, told lawmakers during a Congressional hearing. "They have big goals on solar and wind. They are meeting them. They are surpassing them. And they will keep attracting investment, both domestic and international. Their smart cities initiative of the Prime Minister has many components. But I think it's a strategic vision that is both at once developmental and economic,...

Jacob Neiheisel, assistant professor answers five questions about how impeachment works in the US Editor’s Note: Impeachment is a predominantly legislative process currently followed in several dozen countries, including Brazil, South Korea and the Philippines. “Impeach” has roots in the Latin word for being caught. It allows members of the legislature to indict, or charge, an official with criminal activity. The official will be removed from office only if convicted. The Conversation Jacob Neiheisel, an assistant professor at the University at Buffalo, SUNY answers five questions about how impeachment works in the United States. 1. What sort of crime can lead to impeachment? The U.S. Constitution states that the president, as well as the “Vice President, and all civil Officers of the United States” can be removed from office, after being both impeached and convicted, for “Treason, Bribery, or other High Crimes and Misdemeanors.” Treason and bribery are straightforw...

Indian IT firms account for less than 20 per cent of the H-1B visas Indian IT industry's apex organisation has said that the two top companies -- TCS and Infosys -- got only 8.8 per cent of the H-1B visas for placement of workers in the United States. "Of the six Indian IT companies, software majors TCS (Tata Consultancy Services) and Infosys received 7,504 H-1B visas in FY 2015, which is 8.8 per cent of the total H-1B visas," said the National Association of Software Services and Companies (Nasscom) in a statement here. The apex body's clarification was in response to a US official last week accusing top Indian IT firms TCS and Infosys of unfairly cornering majority of the H-IB visas, by applying more in the lottery system. Read this : Only eight of Nifty50 stocks are at all-time high level Only six Indian IT firms were among the top 20 recipients of the H-1B visas in fiscal 2015 for their professionals to work in the US, said Nasscom. US ...