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Journalism of Courage
The Centre on Wednesday opposed in the Supreme Court a public interest litigation (PIL) seeking the removal of UK Sinha,chairman,Securities and Exchange Board of India (Sebi) on grounds of alleged irregularities in his appointment.
Attorney General GE Vahanvati refuted all the allegations against Sinha and also said that a similar PIL had been dismissed earlier.
Solicitor General Mohan Parasaran said Omita Paul,currently secretary to the President who was then advisor to the then finance minister,had no role in the appointment of Sinha as Sebi chairman.
The petition has challenged the appointment of Sinha on the grounds of his not being a person of integrity which was one of the eligibility conditions as laid down in Sub-Section 5 of Section 4 of the Sebi Act.
The petition further alleged that Sinha committed a fraud on the Search and Selection Committee and the Appointment Committee of the Cabinet. The fraud relates to concealing from the Committees the unheard emoluments of over Rs 4 crore per annum,which he wrongfully earned while working for a PSU by declaring the post of the CMD,UTI AMC as commercial appointment.
