[Breaking] Relief To Sachin Pilot Camp: Rajasthan HC Orders Status Quo On Speaker’s Notices; Defers Judgment Till SC Orders

first_imgTop Stories[Breaking] Relief To Sachin Pilot Camp: Rajasthan HC Orders Status Quo On Speaker’s Notices; Defers Judgment Till SC Orders LIVELAW NEWS NETWORK23 July 2020 11:07 PMShare This – xIn a relief to Sachin Pilot-led group of Congress rebel MLAs, the Rajasthan High Court on Friday ordered status quo on the disqualification notices sent by the Speaker.The High Court also said that it was deferring the judgment on the petition filed by 19 rebel legislators, till the Supreme Court decides on the questions of law.The status quo order essentially means that the Speaker will not…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginIn a relief to Sachin Pilot-led group of Congress rebel MLAs, the Rajasthan High Court on Friday ordered status quo on the disqualification notices sent by the Speaker.The High Court also said that it was deferring the judgment on the petition filed by 19 rebel legislators, till the Supreme Court decides on the questions of law.The status quo order essentially means that the Speaker will not be able to proceed further on the notices under Tenth Schedule of the Constitution to disqualify the dissident MLAs, even if they do not submit their replies to it.The HC on Friday also allowed the application filed by the petitioners to add Union of India as a respondent to the case in view of the challenge to the constitutionality of paragraph 2(1)(a) of the Tenth Schedule.It was on July 21 that the division bench comprising Chief Justice Indrajit Mahanty and Justice Prakash Gupta had reserved the verdict on the petitions filed by 19 Congress rebel MLAs led by Sachin Pilot against the disqualification notices sent by the Speaker. While doing so, the bench had ‘requested’ the Speaker to extend the time for submitting replies to the notices – which was to expire at 5.30 PM on July 21 – till the delivery of the pronouncement of the judgment on July 24. After making such a ‘request’, the bench said in the order ‘we direct accordingly’.Contending that the HC cannot make such a direction to the Speaker, who is a constitutional authority, the Speaker approached the Supreme Court.Yesterday, the Supreme Court ordered that the judgment pronounced by the HC will be subject to the orders passed by the SC in the petition filed by Speaker against the HC direction to extend the time for reply. A bench headed by Justice Arun Mishra of SC observed that the matter required “prolonged hearing” due to the “serious questions relating to democracy” and adjourned the hearing to July 27.It was on July 14 that the Speaker, Dr C P Joshi, served the notices on the 19 dissident MLAs, including Pilot, amid their rebellion against Chief Minister, Ashok Gehlot. They were initially given time till 1 PM, July 17 to submit the replies.The basis of the notices was the complaint filed by Mahesh Joshi, the Congress Party Whip, who alleged that rebel MLAs had attracted disqualification under Tenth Schedule of the Constitution with their anti-party statements and refusal to attend the party meetings on July 13 and 14, defying the whip’s directives. Meanwhile, the 19 MLAs approached the High Court on July 16, challenging the Speaker’s action. The Court started hearing the matter on Friday, and in view of the pendency of the proceedings, the Speaker extended the time for reply.Senior Advocates Harish Salve and Mukul Rohatgi, appearing for the petitioners in the HC, had in essence argued that the petitioners had not defected or given up the membership of Congress party. They are expressing dissent against the functioning of the Chief Minister, by staying within the party. Stating that intra-party dissent cannot be regarded as voluntary giving up of party membership, they contended that the Speaker had no jurisdiction to issue notice invoking Paragraph 2(1)(a) of the Tenth Schedule of the Constitution. It was their further argument that that Speaker was acting with “mala fides”. They contended that the Speaker issued the notices on the same day of receiving complaint from the party whip, Mahesh Joshi, and granted only 3 days time for reply, though the legislative rules stipulate 7 days time for responding to the notice. The petitioners also argued that whip was applicable only to proceedings within the House, and therefore, defiance of party whip’s directions to attend the party meetings cannot attract disqualification proceedings. The petitioners asserted that the High Court has powers under Article 226 to interfere with the Speaker’s action, even before a decision has been taken. Courts can quash a show-cause notice if it is issued without jurisdiction, or in excess of jurisdiction, or is a colourable exercise of power, or is issued with mala fides, or in violation of the principles of natural justice (Detailed report of the arguments of Salve and Rohatgi may be read here and here) On the other hand, Senior Advocate Dr Abhishek Manu Singhvi, appearing for the Speaker, submitted that Courts have restrictions in interfering with proceedings within the house. Article 212 of the Constitution prescribe that the legality of house proceedings cannot be called into question. The proceedings for disqualification are deemed to be house proceedings as per Para 6(2) of 10th Schedule. Relying on the SC decision in Kihoto Hollohan vs Zachillhu, Singhvi submitted that the Courts cannot interfere at a stage anterior to the Speaker’s decision. A Speaker of the Legislative Assembly is not like any other tribunal over which the HC exercises supervisory jurisdiction, he submitted.  Senior Advocate Devadatt Kamat, appearing for the Congress Whip Mahesh Joshi, submitted that submitted that the petitioners should be construed to have voluntarily left the party from their conducts such as open statements against the government and the refusal to attend party meetings. During the hearing, Chief Justice Mahanty orally observed that whip can only apply to house proceedings, and not to party meetings. Also, when the Chief Justice expressed surprise when he was told that two of the petitioners were subsequently suspended for anti-party activities. “You say these members have voluntarily given up their membership of the party. Now you have issued suspension against them. The assumption behind suspension is that they are members. Either they are members of your party, or not members. It cannot be both ways”, the Chief Justice remarked. Next Storylast_img read more

Iloilo farmers sell 1.1M bags of rice to NFA

first_imgAt its office in Jaro, Iloilo City NFAhas two huge warehouses. ILOILO – The National Food Authority(NFA) has procured 1.1 million bags of rice from farmers here in the secondhalf of this year or from July to Dec. 21. The purchase price was P10 per kilo ofrice, according to Pat Espinosa, provincial information officer of NFA-Iloilo. Other farmers chose to deliver theirproduce themselves to NFA warehouses, said Espinosa, with the help of theirlocal government units which provided trucks for the hauling. According to Espinosa, this wasNFA-Iloilo’s answer to Gov. Arthur Defensor Jr.’s call for NFA to reach outmost especially to farmers reeling from the drop in rice prices primarily dueto the deluge of cheap, imported rice.center_img NFA set up rice procurement sites in10 municipalities to make it easier for farmers to sell their produce to thegrains agency. In September NFA bought 250,554 bagsof rice; October, 386,833 bags; November, 345,145 bags; and Dec. 1 to 21,146,133 bags. Some of the buying stations ofNFA-Iloilo were in the towns of San Dionisio, Dumangas, Pototan, Dumangas, andDueñas./PNlast_img read more

FDA, STI, Partners Brainstorm on Forest Management

first_imgThe Forestry Development Authority (FDA), Sustainable Trade Initiative (STI), concession heads, civil society representatives, stakeholders, donor partners have stressed the need for the forest management process to move forward.These assertions were advanced yesterday in Monrovia at a one day consultative conference on the Concept Note crafted by the IHD Sustainable Trade Initiative. The ceremony was held at the National Bureau of Concessions (NBC) in Monrovia, where FDA Managing Director Harrison S. Karnwea, Sr., said in order for Liberia to conserve the forest, a letter of Intent was signed last year with the Kingdom of Norway in New York, the United States of America.According to him, the actual intent of that letter signed with Norway is to preserve and conserve the Liberian forest and increase productivity in the cash and food crops.He also pointed out that Liberia does not want to conserve the forest and see Liberians dying with hunger and other related socio-economic hardships in the country.“As a result of that vital forest initiative, a high-powered delegation is currently in the country to hold discussions with the government, stakeholders, forest concessionaires, partners in the oil palm sector in the country,” Director Karnwea asserted.He also disclosed that the two separate delegations are in the country to assist Liberia forest stakeholders and partners work out plans that would make the Liberian forest productive and sustainable.Earlier, the Director General of the National Bureau of Concessions, Madam Ciata Bishop, urged the participants to talk and work out concrete modalities for the sustainable preservation of the Liberian forest.“It is our hopes that our partners will work together to finalize documents that would be in the best interest of the country,” Madam Bishop concluded.In a brief remark, the Focal Person on Liberia-Norway deal, Arid Skedsmo, urged the participants to accelerate the process of putting finishing touches to the documents that would enhance the sustainable management and conservation of the forest. Also speaking, Civil Society representative Francis K. Colee of Green Advocates assured the FDA management and partners of the Liberian civil society groups willingness to work together and finalize the forest documents.He then stressed the need for the enhancement of the forest concept paper in order that forest dwellers and community land owners could experience the benefits of their natural resources.“We are all in the same boat and I want to assure you people that we will work together to see the practical implementation of the concept paper,” Mr. Colee noted.The concept paper among other components intimated that international companies are compelled to avoid deforestation by their commitment to environmental standards at every level. According to the paper, the successful development of concessions necessarily requires the simultaneous achievement of commercial, community and conservation objectives.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

A look at buying put options

first_imgShare Facebook Twitter Google + LinkedIn Pinterest By Jon Scheve, Superior Feed Ingredients, LLCThe market continues to watch the actions of the President and China. It’s hard to know if there will be a trade fix at the G20 meeting in just over a week. I expect a sideways market through the holiday and leading up to the big meeting between world leaders. After the meeting, it’s still uncertain, but recent history indicates the market hits its low at the end of November and starts increasing in December.The last two weeks I explained why I prefer to sell calls and why I avoid buying calls for my farm operation. But, what about put options? What is a “put” option?Buying a put is the right to sell grain at a desired price. Basically it allows a farmer to guarantee a floor price for their grain while leaving unlimited upside potential if the market rallies. When buying a put there is an upfront cost premium, but no risk of margin call.This sounds like a safe, low risk option. With so much uncertainty in farming, like the weather and politics, buying puts on the surface looks like it can help minimize farmer fears of an unpredictable market. However, like all option trades, it’s not a perfect solution. Issue 1: The cost of the putWhen buying a put I have to subtract that cost from the price level I purchase. For example, Dec ’19 futures are about $4 right now with a $4 put costing about 25 cents. That means the true floor price for my grain is $3.75 ($4 – $.25 = $3.75).Most University studies say the average farmer needs $4.20 futures to cover all production costs. So, I’m not interested in protecting a floor price that is 40 to 50 cents below the average farmers’ breakeven. Issue 2: The value of a put decreases during market ralliesIf the market rallies over the summer, I’ll lose some or all of the premium I paid to buy the put. This isn’t exactly bad because it means the price of grain is going higher and the puts did their job. But just like my floor price is actually below the price level I buy when I purchase a put so too then is the higher price I sell after I subtract out my costs for buying and later selling the put.For example, let’s say I bought the $4 put for 25 cents today and then the market rallies to $4.40 in late summer and I sell my grain at that point. Since I no longer need the floor protection the put provides, I should sell it back out to recover as much of the premium I can. However, by then it’s value would have likely decreased by 15 cents to about the 10 cent level. Since I still need to take into account the cost of the put, the price of my sold grain is actually $4.25 not $4.40 ($4.40 – $.15 put ownership cost = $4.25). While that’s above the average breakeven, it’s not by much.With what we know today, a rally to $4.40 next summer could be unattainable. For the last w years the market stalled out between $4.15 to $4.30 over the summer. So, for me it would be a better plan to just sell those values, if they become available, than to buy a put today that provides a floor for well below my breakeven.To illustrate my point, let’s say I buy the $4 put today for the 25 cents and futures rally to $4.20 next summer. If that happened, I could sell corn for $4.20, and then sell back the put, which is now worth likely only 15 cents (10 cents less than the amount purchased). Since I still need to take into account the 10 cent difference, my corn sale at $4.20 is now only worth $4.10. $4.10 is only 10 cents higher than current prices today, so buying the put actually limited my upside potential from the small rally I’m hoping for.Now if prices fall to $3 next fall, I would want puts in place. But, I’m not sure $3 is likely, just like I don’t think $4.50 is likely with the information I have today. I find it’s usually best for me to not get overly greedy hoping for a huge rally with my options strategy and just sell my grain in early and middle summer. This is where its so important to have a sound marketing plan in place and to have a strategy that takes into account a market that could move in any direction. Is there a good time to buy a put?Back in 2011, 2012 and 2013, it was possible to buy put options where the guaranteed price, after the cost of the premium, was above my breakeven point. But since 2013, similar opportunities have been limited.This year I had some success buying puts about a week or so before a few USDA reports, but the money made and protection levels received were limited. In hindsight, I should have just sold futures instead of trying to cling to hope that prices would go higher.In looking back at 2018, the best opportunity to buy a put successfully was if a farmer bought a $4 put for 20 cents in mid-May when the market hit it’s high for the year at $4.25. However, with that trade the best a farmer would have done was to have a $3.80 floor, because the market only went down right after that. Instead, the better strategy would have been to just sell futures from $4.20 to $4.25, which was at least 40 cents better than clinging to hope with the put strategy.In my experience, I’m generally better off selling futures when prices rally above the average farmers’ breakeven point instead of trying to buy protection below my cost of production. Ultimately, if the market rallies significantly I have next year’s grain to sell that will now be at much higher levels. What about selling puts?Put option sellers receive a premium upfront in exchange for having to buy grain at a certain level. There could be margin call on this trade if the market fell and this trade would then make the put seller long grain. Typically this type of trade would be done by end users and not grain producers. A producer selling puts would be speculative and would add risk to their operation. Buying and selling put options are not a perfect solutionMany in the trade make it seem like buying put options is a perfect solution for farmers, but as detailed above, they are far from perfect and have many limitations. I’m always cautious with the promise of downside protection and unlimited upside potential. In grain marketing there is often a catch when something sounds too good to be true.The reality when buying puts is that I will usually miss out on opportunities if prices go up, down or sideways. And on the flip side, if I sold a put, I make a little money when the market goes up or stays sideways, but my downside isn’t protected and I’ve added risk to my operation because I could actually have more grain than what I started with that I would have to worry about.While buying put options can provide another layer of opportunity in a grain marketing strategy, they aren’t the perfect solution many in the trade make them out to be. It’s why I seldom by puts for my operation. Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results. He can be contacted at [email protected]last_img read more

Are You a Caregiver?

first_imgThe term ‘caregiver’ can be defined as an individual that provides care, whether it is paid or unpaid, to someone with an impairment. However, when we hear the term ‘caregiver’ our thoughts are immediately drawn to the idea of caring for an aging adult. The term may be hard to accept, especially if you are caring for a younger adult…say from the military perhaps.As a military spouse or family member caring for your wounded service member, the term ‘caregiver’ may not even cross your mind. You assume as spouse or family member that it is just part of caring for the individual you love. In reality, we are all caregivers at some point in our life – caring for our children, parent, spouse or friend.In the video below Michael Roos, Military Family Life Counselor at Joint Base Lewis McChord, explains his thoughts on the term ‘caregiver.’ Listen to the video below and how his comments may relate to your personal experience.How do you define ‘caregiving?’ Do you consider yourself a caregiver?For military spouses, families or friends caring for wounded, ill and injured service members, it is important to understand that you are now taking on a new role as ‘Military Caregiver.’ While you may not see yourself as a caregiver, it is important to identify yourself in this role in order to understand specific education and information related to your service member’s injury or condition and how it may affect you.So I ask the question again – How do you define ‘caregiving?’ Do you consider yourself a caregiver?This post was published on the Military Families Learning Network blog on October 28, 2014.last_img read more

UFC: Trilogy bout with Nate Diaz should happen at 155 lbs, McGregor insists

first_imgLATEST STORIES But if Diaz is indeed interested in a trilogy bout, McGregor insists that it has to be in the 155-lb. division, which the Irish superstar currently lords over.“I’m the 155-pound champion, I faced him at 170, he beat me, then I rematched him at 170, I beat him,” he was quoted as saying in a BBC News report. “Now I’m the 155-pound world champion. If he wants that fight, he must come down”.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games openingAfter fighting above his weight class for their first two matches, “The Notorious” believes it’s only natural that the third match take place under his stipulations.“That’s a fair trade. I didn’t ask for the rematch at a lower weight, I asked for the rematch at the exact same weight,” he explained. “I thought that was a fair play move on my half and then I came in and I won. So now I won that, then I won the 155-pound title after that. If he wants to fight, he’s got to make that 155-pound limit.” Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Robredo should’ve resigned as drug czar after lack of trust issue – Panelo Hotel says PH coach apologized for ‘kikiam for breakfast’ claim #KicksStalker: Jordan’s second shoe gets new life Meanwhile, McGregor is expected to take some time off fighting after competing in the biggest fight of his life against undefeated boxing legend Floyd Mayweather Jr.He also made it clear that he is open to taking another boxing match if the right fight comes along.  Khristian Ibarrola /raRELATED STORIES:Olympic medalist Michael Phelps challenges Conor McGregor to swimming raceLOOK: McGregor congratulates Mayweather, says he has ‘strong tools’ for MMAADVERTISEMENT Sports Related Videospowered by AdSparcRead Next UFC fighters Nate Diaz (left) and Conor McGregor. AP File photoNow that Conor McGregor’s tenure inside the boxing ring has passed, it’s time to get back to the UFC and settle some unfinished business inside the octagon.Perhaps high on the UFC Lightweight Champion’s list is a grudge match against Nate Diaz, whom he engaged in two thrilling welterweight bouts last year.ADVERTISEMENT Trump signs bills in support of Hong Kong protesterscenter_img Celebrity chef Gary Rhodes dies at 59 with wife by his side Biggest Pogo service provider padlocked for tax evasion NATO’s aging eye in the sky to get a last overhaul Lacson: SEA Games fund put in foundation like ‘Napoles case’ Don’t miss out on the latest news and information. MOST READ Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games View commentslast_img read more

Big Day Five Ahead At Super Trans Tasman

first_imgDay five of the 2013 Super Trans Tasman Series is shaping to be the biggest yet, with eight games back-to-back and a lot on the line for the Australian teams. In the Masters divisions, Australia and New Zealand have both won two series each, with Australia claiming the Men’s 40’s and Men’s 50’s and New Zealand winning the Senior Mixed and Women’s 30’s. The Masters Trans Tasman title rests with the team who wins the third and deciding Men’s 30’s decider, and after two very exciting games so far, the third match will no doubt be an exciting spectacle.Games start at 10.50am NZ time, with each of today’s eight games played on the stadium field. In the Open’s division, Australia needs to take out the Men’s and Mixed games two to level the series back at 1-all after their respective losses yesterday. The Women’s Open team will be hopeful of taking out game two today and taking an unbeatable 2-0 lead in the series after their 6-3 win yesterday. Stay tuned to the www.austouch.com.au website and the Touch Football Australia Facebook and Twitter pages to keep up-to-date with all of the latest news and results:www.facebook.com/touchfootballaustraliawww.twitter.com/touchfootyausStay tuned to the TFA YouTube channel over the coming days to see all of the highlights of the Masters Trans Tasman Series and Open’s Trans Tasman Series:www.youtube.com/touchfootballausSuper Trans Tasman Day Five10.50am – Men’s 50’s12.00pm – Men’s 40’s1.10pm – Senior Mixed2.20pm – Women’s 30’s3.30pm – Men’s 30’s4.40pm – Mixed Open5.50pm – Women’s Open7.00pm – Men’s OpenRelated LinksSTT Day Fivelast_img read more

Listen: Brandon Harris’ High School Coach Wants Him To Transfer From LSU

first_imgLSU fans wait in line outside Tiger Stadium.BATON ROUGE, LA – SEPTEMBER 19: Fans wait outside of Tiger Stadium to watch the football team arrive between the Louisiana State University Tigers and the University of Louisiana-Lafatette Ragin’ Cajuns at Tiger Stadium on September 19, 2009 in Baton Rouge, Louisiana. (Photo by Chris Graythen/Getty Images)Freshman quarterback Brandon Harris had a shot to win the quarterback job at LSU this season. After promising performances against Mississippi State and New Mexico State, Harris had a putrid game in the Tigers’ loss to Auburn, completing just 3-of-14 throws for 58 yards in a 41-7 loss. Harris threw just one more pass on the season, an interception against Kentucky. Harris’ high school coach David Feaster doesn’t believe that his former player got a fair shot in Baton Rouge, and encouraged him to transfer to JuCo and eventually another Division I program.Feaster: I tried to talk Brandon Harris into transferring at the break. Since he qualified, he could go JUCO, play 1 yr., go elsewhere— TheTimFletcherShow (@FletchWorldWide) January 28, 2015Feaster: LSU had worst passing game and best QB on the bench— TheTimFletcherShow (@FletchWorldWide) January 28, 2015Feaster: Brandon is dedicated to LSU. He really wants to make it work— TheTimFletcherShow (@FletchWorldWide) January 28, 2015You’re not biased towards your kid or another but you KNOW when an athlete could play in the collegiate level. -Wilson— TheTimFletcherShow (@FletchWorldWide) January 28, 2015Apparently LSU is still telling WR recruits that “you’re QB, you know, Brandon Harris.”— TheTimFletcherShow (@FletchWorldWide) January 28, 2015Feaster said he was sick of LSU telling lies to the public.— TheTimFletcherShow (@FletchWorldWide) January 28, 2015If Feaster were Anthony Jennings dad, he’d be upset with Miles for saying this year was a disappointing QB year.— TheTimFletcherShow (@FletchWorldWide) January 28, 2015Between the lack of faith in both Harris and Anthony Jennings, and the fact that LSU has reportedly had contact with potential transfers like Everett Golson and Braxton Miller, Feaster has a point. However, we totally understand why Harris would want to stick it out at a program like LSU.[247Sports]last_img read more