Month: August 2013

Indian held on insider trading charges in Microsoft-Yahoo deal

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An Indian-origin financial analyst has been arrested and charged by US authorities for spilling confidential information about a blockbuster deal between Microsoft and Yahoo to a portfolio manager at a hedge fund.

Sandeep Aggarwal, 40, was charged by Securities and Exchange Commission yesterday for tipping secret information to a S A C Capital portfolio manager who had earlier been charged with insider trading.

Fraud charges were announced against Aggarwal a day after he was arrested in San Jose, California.

UP govt likely to charge sheet suspended IAS officer

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Notwithstanding the severe criticism of its action, Uttar Pradesh government is likely to charge sheet suspended IAS officer Durga Shakti Nagpal, who has the reputation of having taken on sand mafia in Noida.

“The charge sheet is being prepared which would be served to her shortly,” a senior official said.

After senior cabinet minister Shivpal Singh Yadav justified Nagpal’s suspension, the view of the government became clear that it would go ahead and serve charge sheet to her and that it was in no mood to revoke the order.

Three Sikhs convicted of attacking Lt Gen Brar in UK

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Three members of a Sikh gang, including a woman, were today convicted of slashing the throat of Lt Gen (retd) Kuldip Singh Brar, the hero of the 1984 Operation Blue Star, here last year.

Brar, 78, was attacked as he walked with his wife Meena, in Old Quebec Street, central London, on September 30, 2012.

Mandeep Singh Sandhu, 34, of Birmingham and Dilbag Singh, 37, Harjit Kaur, 39, of London were convicted of wounding with intent at Southwark Crown Court.

Barjinder Singh Sangha, 33, of Wolverhampton, had admitted the charge.

UK’s first Muslim MP renounces citizenship to be Pak governor

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Britain’s first Muslim MP, Mohammed Sarwar, has renounced his British citizenship to become the governor of Punjab, Pakistan’s most populous province.

Sarwar, a close aide of Pakistan’s Prime Minister Nawaz Sharif is a former Labour party MP from Glasgow in Scotland. He will now lead over 90 million people in Pakistan’s largest province.

Sarwar was forced to renounce his British nationality as Pakistan’s law forbids ministers and senior officials from holding dual nationality.

Seemandhra seethes with anger over state’s division

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The coastal Andhra and Rayalaseema regions erupted in fury Wednesday, a day after the United Progressive Alliance coordination committee agreed to the division of Andhra Pradesh and the formation of a separate Telangana state.

The politicians in the two regions, however, appear to have reconciled to the fact as unlike Tuesday, when one MP and four state legislators had announced their resignations, no public representative quit Wednesday.