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Anil Ambani plans to withdraw defamation suits against Cong, Herald

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Anil Ambani, Reliance Group, Reliance Defence, Reliance Infrastructure, Reliance Aerostructure, Defamation suits, Congress, National Herald, Rafale fighter jet deal, Rafale fighter jet, Business news

Ahmedabad: The Reliance Group chairman Anil Ambani has decided to withdraw the Rs 5,000-crore civil defamation suits filed in an Ahmedabad court against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal.

The suits were being heard in the court of city civil and sessions judge P J Tamakuwala.

“We have intimated the defendants that we are going to withdraw the suits against them,” the complainant’s lawyer, Rasesh Parikh, told media persons on Tuesday.

P S Champaneri, the lawyer representing the National Herald and some other defendants, said he was told by the Reliance Group’s counsel that he received instructions from his client to withdraw the defamation suits against them.

 

Anil Ambani, Reliance Group, Reliance Defence, Reliance Infrastructure, Reliance Aerostructure, Defamation suits, Congress, National Herald, Rafale fighter jet deal, Rafale fighter jet, Business news

 

The formal process to withdraw the suits will be taken up in the court when it resumes after the summer vacation, Champaneri said.

Reliance Defence, Reliance Infrastructure and Reliance Aerostructure-part of the Anil Ambani-owned Reliance Group-had earlier filed civil defamation suits against Congress leaders including Sunil Jakhar, Randeep Singh Surjewala, Oommen Chandy, Ashok Chavan, Abhishek Manu Singhvi, Sanjay Nirupam and Shaktisinh Gohil, and some journalists and news organisations like the National Herald.

The defamation suits were also filed against the National Herald’s editor Zafar Agha, and Vishwadeepak, the author of a news article published by it.

 

Reliance Group chairman to withdraw defamation suits against Cong, Herald:

 

Before going for summer vacation, the court was hearing applications moved by the defendants questioning the territorial jurisdiction of the court in Ahmedabad to hear such suits.

The complainants said the defendants made libelous and derogatory statements against the Reliance Group and its chairman Anil Ambani pertaining to the Rafale fighter jet deal and his firms.

They asked the defendants to “cease and desist” from levelling allegations against the company in connection with the Rafale deal.

 

Anil Ambani, Reliance Group, Reliance Defence, Reliance Infrastructure, Reliance Aerostructure, Defamation suits, Congress, National Herald, Rafale fighter jet deal, Rafale fighter jet, Business news

 

The defamation suit filed against the National Herald pertained to an article published by it, titled ‘Anil Ambani floated Reliance Defence 10 days before Modi announced Rafale deal’.

The article “misleads the general public to believe that undue business favours are being extended to them by the government of the day,” the petition said.

It conveys a “negative image” and “adversely affects the public perception” of Reliance Group and its chairman Ambani, it said.

It has caused “considerable damage” to the reputation and goodwill of plaintiff firms, it said, seeking damages of Rs 5,000 crore.

 

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US ditches Indian currency money from monitoring list of trading

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India, China, United States, America, India currency rupee, Money, Dollar, Donald Trump, Currency monitoring, Macro Economic and Foreign Exchange, Business news

Washington: India has been removed from currency monitoring list of major trading by the US Treasury Department of Donald Trump administration because country has made improvements and developments.

India was placed for the first time by the US in its currency monitoring list of countries according to report in October 2018, the Treasury had said that India has made improvements and its name have been removed from the currency manipulation list in the next report.

Along with India other nation such as Switzerland has been removed by the US from its currency monitoring list which among others include China, Japan, South Korea, Germany, Italy, Ireland, Singapore, Malaysia and Vietnam.

 

India, China, United States, America, India currency rupee, Money, Dollar, Donald Trump, Currency monitoring, Macro Economic and Foreign Exchange, Business news

 

In latest semi-annual report on Macro Economic and Foreign Exchange policies of major trading partners of the US sent to the Congress the Treasury department said, “India has been removed from the monitoring list in this report, having met only one out of three criteria-a significant bilateral surplus with the US-for two consecutive reports.”

Further adding to this he said, “Neither Switzerland nor India met the criteria for having engaged in persistent, one-sided intervention in either the October 2018 report or this report. Both Switzerland and India have been removed from the monitoring list,” along it’s report running into over 40 pages.

 

US trumps Indian currency money from monitoring list of trading:

 

With new names on the list who added are Italy and Ireland from European Union (EU) and three Southeast Asian countries-Singapore, Malaysia and Vietnam.

The Department’s Currency which published report on May 28 says even 2 out of 3 measures for currency manipulation were tightened US again decided not to label China or any other country as a currency manipulator.

 

India, China, United States, America, India currency rupee, Money, Dollar, Donald Trump, Currency monitoring, Macro Economic and Foreign Exchange, Business news

 

In report Philip Wee, forex strategist at DBS Group Research said, “Washington’s restraint in not labeling China a currency manipulator was a relief.

Unfortunately, this would not be enough to offset the China-US trade tensions weighing on currencies.”

Meanwhile, Indian currency on Tuesday opened at 69.75 against the dollar, weaker than 69.6850 on close.

 

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