TUESDAY, AUGUST 21, 2018 (PAGE 4) DAILY EXCELSIOR, JAMMU

Chidambaram’s wife, daughter-in-law India, Japan resolve to deepen

appear before court
CHENNAI, Aug 20:
Former Union Minister P
Chidambaram's wife Nalini and
daughter-in-law Srinidhi today
appeared before a court here in
connection with a black money
case.
His son Karti Chidambaram,
also an accused in the case, did
not appear in the court. The court
was informed that Karti
Chidambaram had gone to
London after obtaining due per-
mission from the Supreme Court.
Recording the appearance,
Chief Metropolitan Magistrate S
Malarvizhi directed the prosecu-
tion to provide copies of the doc-
uments pertaining to the proceed-
ings to Nalini Chidambaram and
Srinidhi.
Recording the submission, the
judge ordered all the three to
appear on September 3.
According to the Income Tax
Department, Karti Chidambaram
had not disclosed his bank
account in Metro Bank, the UK,
and investments he had made in
Nano Holdings LLC, USA.
The department said Karti
Chidambaram had failed to dis-
close investments made by Chess
Global Advisory, a company co-
owned by him, which is an
offence under the Black Money
Act.
It also said the trio had not
disclosed Rs 5.37 crore worth of
property they jointly own in
Cambridge in the UK and Rs 3.28
crore worth of properties in the
US.
The department initiated pros-
ecution against them under
Section 50 of the Black Money
(undisclosed foreign income and
assets) and Imposition of Tax Act.
Challenging it, the three
approached the high court.
As a single judge of the court
refused any relief, they moved an
appeal.
On June 27, the first bench
headed by the then Chief Justice
Indira Banerjee reserved its order
on the appeal.(PTI)
maritime cooperation
NEW DELHI, Aug 20:
India and Japan today decid-
ed to expand their maritime
cooperation and work together to
ensure peace and stability in the
Indo-Pacific region, which is
witnessing growing Chinese
assertiveness, officials said.
The two countries also decid-
ed hold the first-ever joint Army
exercise later this year besides
deepening cooperation in co-
development of military hard-
ware and weapons.
The decisions were taken
during wide-ranging talks
between Defence Minister
Nirmala Sitharaman and her
Japanese counterpart Itsunori
Onodera.
The India-Japan defence dia-
logue came a day before Chinese
defence Wei Fenghe arrives here
on a four-day visit.
Officials said the two minis-
ters also exchanged views on
India's long-pending proposal to
procure the US-2 ShinMaywa
amphibious aircraft from Japan
for its Navy.
The two sides also firmed up
a project in the area of
Unmanned Ground Vehicle
(UGV) and robotics, marking the
start of first such bilateral initia-
tive.
They said Japan Maritime
Self-Defence Force (JMSDF)
and the Indian Navy are working
towards firming up an arrange-
ment for deeper cooperation
between the two navies.
"The ministers shared the
recognition that it is important
for the two countries to further
strengthen defence and security
cooperation under the 'Japan-
lndia Special Strategic and
Global Partnership' that aligns
Japan's Free and Open Indo-
Pacific Strategy' with India's 'Act
East Policy'," a a joint press
statement said.
It said Sitharaman and
Onodera recognised that stability
of the Indian Ocean and the
Pacific Ocean are crucial for
ensuring the peace and prosperi-
ty of the Indo-Pacific region.
The two ministers also delib-
erated on the situation in Korean
Peninsula.(PTI)

Jio tops Fortune’s Change

The World list
NEW YORK, Aug 20:
Richest Indian Mukesh
Ambani's telecom unit Reliance
Jio has been ranked as the top
company globally on Fortune's
'Change The World' list that
ranked companies using the prof-
it motive to help the planet and
tackle social problems.
Jio is ranked ahead of pharma
giant Merck and Bank of
America, according to Fortune
list released today.
Chinese group Alibaba is
ranked 5th on the list that has
food and drug stores Kroger at
number six, industrial machinery
firm ABB at number 8 and net-
work and communications giant
Hughes Network System at num-
ber 10.
"If access to the Internet is a
basic human right -- and the
United Nations declared it one in
the summer of 2016 -- then
Reliance Jio deserves more credit
than most for expanding access to
it," Fortune said.
Jio stormed the sector with
free calls and data forcing rivals
to merge or exit in September
2016 and has amassed 215 mil-
lion subscribers since then and
says it is profitable.
Fortune said Ambani "likes to
say it provides the public with
'digital oxygen'" but "two years
ago there wasn't much oxygen to
go around in the world's second-
most-populous country."
"Mobile phones crawled on
2G networks, and consumers typ-
ically paid more than Rs 200 for
one gigabyte of data. India had
just 153 million mobile Internet
subscribers among its population
of 1.3 billion.(PTI)

DIP/J-5048/18
Dated: 20-08-2018