China credit market crumbling

Global markets are eyeing over the Greece's debt woes, but the world second biggest economy China's debt situation is not that much different from Greece game.

Chinese banks are also witnessing pain in their books as the balance sheet of  banks are not giving rosy picture because in there off-balance sheet lending, very few facts and a lot of fears is visible.

The amount of Chinese bank credit book has doubled from December 2007 to May 2011, which is the perfect textbook example of a credit bubble in the system.

Despite the fact that the loan growth rate in China has been halved to 15% over the last 2 years, the value of lending extended during that time which is prime concerns for them. 

Total outstanding of Chinese bank loans stood at USD 6,500 per capita in 2010 with respect to GDP per capita of USD 4,400, which is not going to sustain in near future.

There is an overhang though of the excesses those were booked in the previous 2 years on the book of banks. When they mature over the coming 2, 3 years, the will certainly see defaults. In China non-performing loans (NPL), which at 1% of total loans, are bound to increase going forward.

Some analysts are even estimating that this could increase to 6% of loans, 10% of loans, and even 15% of loans within a few years’ time. However as per general consensus NPL of Chinese bank are inching to get double in 3 year.

The worsening situation in China will create big storm in world economy as China is not much transparent and once the bubble will burst will derail the global growth.

Technical Education Institution in Bihar

Engineering Education

The main technical institute that provides the engineering education in Bihar are,SBTE, Patna,IIT, Patna,NIT, Patna,BIT, Patna,MIT, Muzaffarpur,BCE, Bhagalpur,Maulana Azad College of Engineering and Technology, Patna,Netaji Subhas Institute of Technology, Amhara,Millia Institute OF Technology, Purnea,Vidya Vihar Institute of Technology, Purnea.

Bhagalpur College Of Engg provides B.E / B.Tech : Civil Engineering (Seats:30), Computer Science & Engg.(Seats:40), Electrical Engineering (Seats:45), Electronics & Comm. Engg. (Seats:40), Mechanical Engineering (Seats:45).

Bihar Institute Of Silk & Textiles Nathnagar, Bhagalpur – provides B.E / B.Tech:Silk Tech. ( Consensed Course) (Seats:30), Silk Technology (Seats:20), Textile Technology (Seats:20)

Muzaffarpur Institute Of Tech. provides B.E / B.Tech : Civil Engineering (Seats:60), Electrical Engineering (Seats:60), Electronics & Telecomm. Engg. (Seats:40), Information Technology (Seats:40), Leather Technology (Seats:15), Mechanical Engineering (Seats:60) M.E / M.Tech : Thermal Engg (Seats: 18, Machine Design (Seats: 18)

Maulana Azad College Of Engg. & Technology provides B.E / B.Tech : Computer Science & Engg.(Seats:60), Electronics &Comm. Engg. (Seats:90), Information Technology (Seats:30), Mechanical Engineering (Seats:90)

Miilia Institute Of Technology Ram Bagh, Purnea, provides B.E / B.Tech : Mechanical Engineering, Computer Science & Engg., Electrical Engineering, Electronics & Comm. Engg. (60 Seats each)

National Institute Of Technology Formely Bihar College Of Engg. Patna – provides B.E / B.Tech : Civil Engineering (Seats:60), Computer Science & Engg. (Seats:40), Electronics &Comm. Engg. (Seats:15), Information Technology (Seats:40), Mechanical Engineering (Seats:35)

R.P. Sharma Institute Of Technology Danapur, Patna – provides B.E / B.Tech : Civil Engg. (Seats:30), Computer Science & Engg. (Seats:60), Electronics & Comm. Engg. (Seats:120), Electrical & Electronics Engg. (Seats:60), Information Tech. (Seats:30), Mechanical Engg. (Seats: 120)

Siwan Engg. & Tech. Institute Islamia Nagar, Shurapur, P.O. & Distt. Siwan –  provides B.E / B.Tech :Computer Science & Engg., Electronics & Comm. Engg., Electrical Engg., Mechanical Engg. (60 Seats each)Women's Institute Of Technology Navodya Complex, Kameshwarnagar, Darbhanga -  provides B.E / B.Tech : Information Technology (Seats:60)

Architecture College

National Institute Of Technology Formely  Bihar College Of Engineering,B. Arch.

In medical education

Darbhanga Medical College, Laheriasarai,Shree Krishna Medical College, Muzaffarpur,Patna Medical College, Patna,Jawaharlal Nehru Medical College, Bhagalpur,A.N. Magadh Medical College, Gaya,Nalanda Medical College, Patna,Katihar Medical College, Katihar,Mata Gujri Medical College, Kishanganj.

Dental Colleges 

Budha Institute of Dental Sciences Patrakarnagar, Kankarbagh, Patna – BDS (Seats:40) Darbhanga Dental College,Mir Gheyas Chak, Millat College West Road, Darbhanga– BDS (Seats:40),Dr. B.R. Ambedkar Institute of Dental Sciences & HospitalNew Bailey Road, (West of Canal) Patna – BDS (Seats:40) ,Dr. S.M. Naqui Imam Dental College & Hospital Behera BDS (Seats:60),Mithila Minority Dental College & Hospital Samastipur Road, Mansukh Nagar (Ekmighat) Loheriasarai, Darbhanga, BDS (Seats:60) Patna Dental College & Hospital Ashok Raj Path, P.O. Bankipur, Patna –  BDS (Seats:40), MDS Prosthodontics (Seats:02)Sarjug Dental College Hospital Road, Laheria Sarai, Darbhanga BDS (Seats:40).

Veterinary College

Bihar Veterinary College Patna.

In the Ayurvadic education .

Ayurvedic Medical College Gaya –Ayurvedacharya (Seats:30),Dayanand Ayurved College & Hospital Siwan–Ayurvedacharya (Seats:40),Government Ayurvedic College Post-Graduate ,Training & Research Centre Kadam Kuan, Patna – Ayurvedacharya (Seats:40), Ayurved Vachaspati Dravyaguna (Seats:04), Rasashastra (Seats:04),Moti Singh Jogeshwari Ayurved College & Hospital Bara Telpa, Chhapra-Ayurvedacharya (Seats:40) Nitishwar Institute of Medical Sciences Bawan Beegha, Kanholi, P.O. Ramna, Muzaffarpur- Ayurvedacharya (Seats:40)

Rajkiya Ayodhya Shivkumari Ayurved Mahavidyalaya Begusarai-Ayurvedacharya (Seats:30) Rajkiya Maharani Rameshwari Bhartiya Chikitsa Vigyan Sansthan Mohanpur –Sh. Yatindra Narayan Ashtang Government Ayurvedic College P.O.Champanagar, Bhagalpur,Shri Dhanwatri Ayurved Mahavidyalaya Ahirouli, Buxar-Shri Ravindranath Mukherji Ayurved CollegeDistt. Champaran, Motihari,Swami Raghwendracharya Tridandi Ayurved MahavidyalayaKarjara Station, P.O. Manjhol, Gaya.

Homeopathic Education

Bihar Homoeopathic Medical College,Gola Road, Patna B.H.M.S.,B.N.M. Homoeopathic Medical College & Hospital Saharsa B.H.M.S. Dr.Halim Homoeopathic Medical College and Hospital Ekmighat, P.O. Laheria Sarai, Bihar B.H.M.S. G.D.Memorial Homoeopathic Medical College and Hospital East Ram Krishna Nagar, Patna-800 020 B.H.M.S. Gaya Homoeopathic Medical College Gaya.B.H.M.S. Kent Homoeopathic Medical College and Hospital At & P.O. Khilwat (Via-Bidupur Bazar), Hajipur Distt. Vaishali -844 516 B.H.M.S. Magadh Homoeopathic Medical College Biharsarif, Station Road, Nalanda. B.H.M.S. Maharshi Mahi Homoeopathic Medical College and Hospital Katihar.B.H.M.S. Mangla Kamla Homoeopathic Medical College & Hospital Professor Vishnu Kumar Marg, Srinagar, Siwan B.H.M.S.

Patna Homoeopathic Medical College and Hospital Ram Krishan Nagar, (Sorangpur), Patna. B.H.M.S. R.B.T.S. Govt. Homoeopathic Medical College Ram DayaluNagar ,P.O Ramna, Muzaffarpur-, Bihar.B.H.M.S. R.D. Kedia Homoeopathic Medical College and Hospital East Champaran, Bihar B.H.M.S. Sinha Homoeopathic Medical College and Hospital Laharisarai, Darbhanga.B.H.M.S. The Temple of Hahnemann Homoeopathic Medical College Munger.B.H.M.S.

Unani College

Govt. Tibbi College Kadam Kuan, Patna-Kamil-e-Tob-o-Jarahat (Seats:40) Nizamia Unani Medical College & Hospital Mohalla choti Masjid, Bari Road, Gaya- Bihar Kamil-e-Tob-o-Jarahat Salfia Unani medical College & Hospital At &PO Lehariasarai, Distt.Darbhanga- Bihar. Kamil-e-Tob-o-Jarahat Zulfequar Haider Unani Medical College & Hospital Nawalpur P.B. No.12 Siwan- Bihar Kamil-e-Tob-o-Jarahat

Law College

Anugrah Memorial Law college Gaya, Bihar,LL.B 3 year,Biswanath Singh Institute of Legal Studies Munger, Bihar LL.B 3 year,C. K. M. Law College,Araria, Bihar,LL.B 3 year Bihar Institute of Law Patna, Bihar LL.B 3 year,Biraja Mohan Thakur Law College Purnia, Bihar LL.B 3 year College of Commerce Patna, Bihar LL.B 3 year R. M. M. Law College Saharsa, Bihar LL.B 3 year Faculty of Law, Patna University Patna LL.B and LL.M,Mahadeo Singh Law CollegeBhagalpur Bihar LL.B. Tilak Manjhi Bhagalpur University Faculty of Law, Bhagalpur 812007 Bihar Master of Law (LLM)

T.N.B. Law College Bhagalpur, Bihar LL.B ,S.K.J. Law College Muzaffarpur, Bihar LL.B Suryadeo Law College Katihar Bihar LL.B A.M. College Gaya, Bihar LL.B. Maharaja College Arrah, Bojpur, Bihar LL.B. Patna Law College Patna, Bihar LL.B. Bidheh Law College Madhubani, Bihar LL.B.

Samastipur Law College Samastipur, Bihar LL.B. Shivanand Mandal Law CollegeMadhepura, Bihar LL.B. M.S. College Motihari, Bihar LL.B. C. M. Law College Darbhanga Bihar LL.B. Videh Law College Madhubani Bihar LL.B. Chanakya National Law University A.N. Sinha Institute of Social Studies Campus Gandhi Maidan, Patna, Bihar.Five Year B.A., LL.B. (Hons.) Seats: 80

Jai Prakash Vishwavidyalaya Dak Bunglow Road, Chapra -LL.B.,Nawada Vidhi Mahavidhyalaya Nawada Bihar 3 years and 5 years R. P.S. Law College Patna Bihar LL.B

Management Colleges

Chandragupt Institute of Management, Patna,Gaya College (Affiliated to Magadh University), Gaya, Bihar,Indian Institute of Business Management (Recognised by AICTE, New Delhi), Buddh Marg, Patna ,L.N.Mishra Institute of Economic Development and Social Changes, Patna,Patna Women's College (Affiliated to Patna University), Bailey Road, Patna,Shanti Sewa Samiti's Indian Institute of Hotel Management, 11 IAS Colony, Kidwaipuri, Patna

Mass  Comunication

Jai Prakash VishwavidyalayaDak Bunglow Road, Chapra - B.J.M.C. Bachelor of Journalism & Mass Communication- 1yr

NALANDA OPEN UNIVERSITY 2nd/3rd Floor, Biscomaun Bhawan,Gandhi Maidan, M.A. (Journalism & Mass Communication),Post Graduate Diploma in Journalism and Mass Communication

Hotel Management

Institute of Hotel Management Near Ramashish Chowk, Opp. State Circuit House, Hazipur,Vaishali (Bihar) Bachelor of Science programme in Hospitality and Hotel Administration Indian Institute of Business Management Budha Marg, Patna ,3 year Diploma in Hotel Management & Catering Technology(Seats: 60) Shanti Sewa Samiti's Indian Institute of Hotel Management 11, I.A.S. Colony, Kidwaipuri, Patna 3 year Diploma in Hotel Management & Catering Technology,Institute Of Hotel Management & Catering Technology Patna Campus, Budha Marg, Patna - D.H.M.C.T. (Seats: 120)

Bio technology

Bihar National College Patna University, Ashok Rajpath, Patna 4-year B.Sc. (Hons) in Biotechnology Anugrah Narayan CollegePatna, Bihar.B.Sc Biotechnology ,Lalit Narayan Mithila University Kameshwar Nagar, Darbhanga M. Sc Biotechnology (Self financing) seats: 20 Faculty of Basic Sciences & HumanitiesRajendra Agricultural University Pusa, Samastipur, India B.Tech.(Biotechnology) - Bachelor of Technology in Biotechnology. M. Sc.(Agril. Biotech)

Kingdom is back

Now for the good news. If opinion polls are right, more than 60 per cent of India will be ruled by women of substance from the middle of May. Between them, Sonia Gandhi, Mayawati, Jayalalithaa and Mamata Banerjee could preside over the destiny of Delhi, Haryana, Rajasthan, Maharashtra, Andhra Pradesh, Kerala, Tamil Nadu, Bengal and Uttar Pradesh, along with a part-share in Jammu and Kashmir and the North East. Add a supplementary, that BJP has chosen a woman, Sushma Swaraj, as leader of the Opposition in the Lok Sabha, and you have a burst of feminine power not seen in India since Razia Sultan sat on the Delhi throne in the 13th century.

Silly columnists rush in where angels fear to tread. Sensible angels don't make poll predictions. Alas, for journalists, no angels, this is a bread-and-butter requirement. Mamata Banerjee may be more wind than flight, but she will land in Writers' Building once results are declared on May 13; not as comfortably perhaps as she imagines, but still there. She has already acquired heavy-frame spectacles in the billboard image sprawled across Calcutta; if you want to be chief minister of Bengal, it helps to look like an intellectual. In Tamil Nadu, the polls are done. Jayalalithaa has gone on holiday and the Karunanidhi clan returned to family squabbles. No one can be certain of the Tamil Nadu result, but the theme of this series of Assembly elections is taking shape: if you are establishment, you are in trouble.

The Leftist rock in Bengal is looking more like rock salt; while the DMK is writhing in pain from different wounds. The Assam Congress, which began this campaign in a chipper mood, is now visibly distraught at the possibility of losing office. In all states, the Congress vote has dropped sharply from its 2009 levels because of the crime opera being serialised in media every day. But an intriguing variation has spawned an anomaly in Kerala. The Left has repositioned the contest as one between two establishments, the local Left versus the national Congress, and switching the question from 'Who is better?' to 'Who is worse?' But this is unlikely to prevent a Congress-front victory.

Men are psychologically destabilised by the thought of women on top. All through history, across nations and cultures, their contempt for women who aspire for power has been well-documented. They have repeatedly used doctrine and sword to keep the "weaker sex" in its place, which, in their world-view is ideally restricted to the pillow, their influence whispered into the ear, or stretched to seduction. The image is as old as Genesis. Eve initiated proceedings in heaven when she "tempted" Adam with her apple, but on earth it was Adam who occupied the temporal throne. A role reversal has been long overdue, but had to await the gender equality enshrined in adult franchise, a process which began through faltering steps, in the 20th century.

The first phase of feminine empowerment was marked by accident, opportunity and individual ability. Indira Gandhi, Margaret Thatcher and Golda Meir have been declared successful (by men) because they were re-imagined as proto-males, the only-man-in-the-Cabinet syndrome. When all three decimated foes in war with calm ruthlessness, men cheered them on as one of their own, implying that their success was due to a functional male gene in a dysfunctional female DNA. The sexism was unnoticed by one gender, and ignored by the other.

Democracy has at long last hit critical mass. Sonia Gandhi, Mayawati, Jayalalithaa and Mamata Banerjee-or for that matter Angela Merkel-are where they are not because of genes, but by the collective will of an unsentimental electorate. How much real change will this represent in India? To suggest that women in power will be less corrupt is fatuous, and contrary to all prevalent evidence. Even Mamata Banerjee, who has spent decades suggesting that money was seriously injurious to her health, has abandoned pretence and is promoting a North Indian moneybag as an elixir of the Coming New Bengal Economy. Given the protection of privacy, such women would doubtless argue that they need cash for their counteroffensive in a hostile environment where gender bias starves them of resources. So will they, to use an apt metaphor, be merely cosmetic?

It depends on whether these women decide to behave like faux men, or whether they obey their natural instincts. A woman does not have to bear babies to be a mother. Men take pride in achievement; women take pride in feeding the family. Every member of a family is not an achiever, and will not bring the same amount to the kitty, but everyone has to be fed equally. It is, in essence, the difference between exclusive growth and inclusive growth. Men gave us the first. Women should give us the second.

We hire the chakars on Akkha Teej

THE RED scarf that hangs around Sana Basava’s neck loudly proclaims his identity. He is a chakar — technically a contractual farmhand but, for all practical purposes, a bonded labourer in vibrant Gujarat.

A resident of Puniyad village of Sinor block in Vadodara district, Sana goes to a nearby village to till his employer’s field.

The terms of his assignment are spelt out in black and white. Long working hours — when fields need to be irrigated, he has to put in a 24x7 effort — an annual average payment of ` 18,000, a fixed amount being docked from this measly salary every time he takes leave and the money to be handed over to him only at the end of the year.

For generations, Sana and other members of the tribal community have been slaving away for the affluent farmers of rural Gujarat under the tradition of Chakar Pratha . On Akshay Tritiya ( Akkha Teej in local parlance), an auspicious day when the rest of the country celebrates by splurging on gold and silver, the fate of the state’s Sanas gets decided for the next one year.

“ We hire the chakars on Akkha Teej ,” Thakur Patel, a farmer from Shimli village in Karjan block of Vadodara, says. “ This year the rate is around ` 20,000 for a year. We have to hire them on a yearly basis, because the daily rate of about ` 100 turns out to be too expensive,” Thakur adds.

It is another matter that the chakars often do not even know how much money they will get at the end of their gruelling 365- day term. Sitting in his motley hut in Shimli, Chandu Desai says: “ I got ` 15,000 last year, but this time they have not informed us about the sum we will be given.” Gujarat’s brand of ‘ bonded labour’ isn’t confined to men.

“ Women are also hired on an annual basis for domestic work and are called panihari ,” reveals Ramesh Vasava, a tribal activist from the area. Sexual abuse is not uncommon for paniharis . Gender discrimination is also evident in the wages for women.

Champa Vasava makes ` 1,200 a year and gets the leftovers of meals from her employer’s house, which she shares with her children and husband Dadu Vasava. Dadu was crippled owing to alleged police torture after he was accused of stealing a couple of years ago. At that time, he was working as a chakar at a farm.

For the exploited tribals, it is not just about abysmally low wages.

There is a debt angle as well. “ The ill- paid tribals often borrow from the Patels and are then forced to slog it out in their fields to repay the debt,” Ramesh says. “ In effect, the chakars end up with very little money at the end of the year, pushing them into a debt trap.” “ Chakars do borrow money from us. We don’t have a problem if a labourer wants to work with some other farmer, but before that he has to clear his debts in cash or by working in the farm,” Viral Patel, a Shimli farmer, says.

Vadodara’s labour officer M. S. Patel categorically denied the existence of bonded labour. “ Chakar pratha was prevalent in the days of the British, but now there is no such practice in the state,” Patel says. “ These people are not bonded labourers. They go home at night and work during the day.

In fact, the government has fixed their wages at ` 100 per day.” Noted writer- activist Indukumar Jani says: “ The system is common in areas such as Vadodara or Jambusar in Bharuch. We have time and again raised the issue, but no government — be it the Congress or BJP — has ever officially acknowledged it.” Back in Shimli, Magan Vasava got only ` 12,000 last year. His son’s marriage is due in a few months and the estimated expenses are ` 50,000. He will borrow again, then roll up his sleeves and brace for payback time on the fields.

FREEDOM & BONDAGE GETBLURRED

EMINENTeconomist and former vice- chancellor of Bhavnagar University, Prof. Vidyut Joshi says that labourers under the Chakar Pratha officially do not forfeit their right to change their employer, which helps the government not to acknowledge them as bonded labourers.

“ All the other conditions of bonded labourer are fulfilled as there are meagre advance given to them apart from loans, which bind them to their employers,” Joshi said, adding that every time a labourer wants to change his employer, he is asked to pay off his debts.

“ But that is more often than not beyond his capacity, and thus he remains vulnerable to exploitation.”

Top politicos in Ali confession don’t figure in ED chargesheet

Agency lists only ` 600- cr of his alleged hawala transactions

THE HASAN Ali case promised to be India’s biggest, most explosive money laundering case.

Instead, it has turned out to be one of the biggest whitewash jobs in the history of the Enforcement Directorate ( ED).

In a complete turnaround from what it threatened to do, the ED has gone out of its way to ensure that those named by Hasan Ali – the man who it claimed was India’s biggest money launderer, catering to India’s rich and powerful – do not even appear in the chargesheet.

The voluminous, 950- page chargesheet – based on which the trial court will actually frame charges against Ali – does not contain the names of any of the major politicians, including several chief ministers, top bureaucrats or industrialists whom ED sources had said Ali had named during his interrogation.

Mail Today had earlier reported that Ali had revealed the names of as many as five former chief ministers alleging that he had laundered money for them.

Three of them were from Maharashtra and two from Andhra Pradesh. The list of those who had routed their ill- gotten wealth through Ali included top bureaucrats from Maharashtra and many film stars, especially from Andhra Pradesh — powerful links which allegedly kept Ali safe for over two decades.

During this period, Ali is said to have accumulated ill- gotten wealth of over ` 36,000 crore, stashed in safe havens abroad.

But in the chargesheet submitted to the sessions court in Mumbai, the ED, while charging Ali under the Money Laundering and Prevention Act, 2002, has shown that Ali’s scam was worth just a few hundred crore rupees.

Instead, the actual crimes with he has been charged largely relate to how the tax cheat had helped illegally sell off the erstwhile Hyderabad Nizam’s jewellery.

“ This is to be expected. Since these ( ED officials) people work under the government you cannot expect them to go and put the names of the politicians. This will happen until they are given freedom and are working under an ombudsman. You put yourself in their place, it is very hard to go against the system,” former top policeman Julio Rebeiro said.

While the ED does mention that Ali has multiple accounts in Singapore and Switzerland, it fails to detail the trail of the remaining amount of black money in Ali’s account. Instead of money laundering, most of the chargesheet is on the Nizam’s jewels, with the ED claiming that Ali had connections with the Nizam’s family and was involved in smuggling out and selling the jewellery.

“ You talk to our superiors, as to why we couldn’t add the names of top politicians and bureaucrats that were told to us. We were told to prepare the chargesheet focusing on Nizam’s jewels and the fake passport and dilute everything else,” said an ED officer on condition of anonymity.

The chargesheet also doesn’t reveal Ali’s monetary transactions or links with international arms dealer Adnan Khashoggi and Swiss hotelier Philip Anandraj The probe detailed in the chargesheet accounts only for about ` 600 crore of the ` 36,000 crore worth of deals he is supposed to have entered into.

In his interrogation, Ali had revealed information on as much as ` 1,600 crore of illegal deals — a fact that the ED has also mentioned in its report tabled before the Supreme Court.

However, all that has vanished from the chargesheet.

This is strongly reminiscent of what happened in the Abdul Karim Telgi fake stamp paper case. Back in 2003, Telgi — accused in the ` 43,000 crore fake stamp paper scam — had apparently revealed the names of political biggies, none of which made it to the chargesheet.

Karnataka and Maharashtra politicians — where the scam occurred — were opposed to handing over the investigations to the Special Investigative Team formed by the Bombay High Court. Eventually not a single big political name made it to the chargesheet in that case. Only two lesser known MLAs — one each from Maharashtra and Karnataka — were investigated and arrested.

In Ali’s case too, just two politicians — Bihar Congress politician Amalendu Pandey and the Lieutenant Governor of Puducherry, Iqbal Singh, have been questioned so far. They too, do not figure in the chargesheet.

Former Maharashtra DGP Arvind Inamdar, however, held out hope for a fair investigation. “ This would not be the end, the court can ask for the investigation papers if they feel that the case has not been investigated properly and the court can well hand over the probe to another agency,” he said.

How strong the ED case against Ali actually is can be gauged from the fact that the charges against Ali occupy around 69, pages while the rest is made up by statements from different accused and correspondence, mostly related to Ali’s fake passports.

Not much of this is the ED’s actual investigative report. Another officer associated with the case said that they were back to square one. “ The Supreme Court asked us to investigate. However, we can’t swim with our hands tied.

There were hundreds of phone calls asking us to hush up high profile names.” Reactions are split along party lines. “ Anyone who is in custody can take big names to sensationalise the issue but there is no truth in it,” Maharashtra Congress spokesperson Hussain Dalwai said.

The Opposition Shiv Sena’s Subhash Desai said: “ How can you expect the ED, which works under the Centre, to function independently? This is the same government that declined to reveal the names of those people who have black money abroad to the Supreme Court.” The ED’s sudden about- turn is bound to benefit Ali. On Tuesday, his lawyer filed a bail plea for his client saying the chargesheet had nothing new.