Desi Talk - page 16

– that’s all you need to know
International Community Should Act On
Pakistan Terror Links: Jaitley
16
April 28, 2017
CITY VIEWS
By Arul Louis
– NEW YORK
W
arning that most terrorism
“across the world have some
footprint” in Pakistan, Indian
Finance and Defence Minister Arun Jaitley
said Monday that the international com-
munity has to take action.
While India’s relations with its neigh-
bours have improved, “our problem comes
from our western neighbour” because of
terrorism, he said at the Council on
Foreign Relations here.
Every initiative by India to improve ties
with Pakistan have met with hostile reac-
tions, the latest being the “unprovoked ges-
ture of a military court sentencing an
Indian to death through a kangaroo court
process” in the case of Kulbhushan Jadhav.
“I think that doesn’t help the cause of
peace in the region at all,” he said.
Pakistan has alleged that Jadhav was a
spy for India and following his capture
under controversial circumstances in area
near the border with Iran, a military court
handed him a death sentence.
“If you’ve seen all our efforts over the
last few years to normalize the relationship
(with Pakistan), we’ve seen a reaction,” he
said. Prime Minister Narendra Modi “went
there, and it was immediately followed up
by an attack in Pathankot air base in India,
then an attack on our Uri military camp”.
Answering audience questions about
the state of India’s relations with neigh-
bours, Jaitley said economic relationship
was an area of strength with China and has
picked up significantly, but border prob-
lems persisted despite an initia-
tive by then Prime Minister Atal
Behari Vajpayee to resolve them.
“We had a mechanism set up
in order to resolve the (issue) and
define the border itself,” he said.
But over the last 14 years, “the
mechanism has not been able to
come out with an answer”.
“We believe that it’s important
the border get settled, because
that’s in the interests of regional
peace,” he added. “And obviously,
you’ll have occasionally some
issues arising because of that
unsettled situation.”
China is now India’s biggest
commercial partner accounting
for about $70 billion in annual bi-
lateral trade.
By a StaffWriter
OPIO, the Global Organization of
People of Indian Origin, together
with the NewYork Consulate
General of India, will launch the
U.S. chapter of GOPIO’s International
Chamber of Commerce at the Consulate
premises April 28. The GICC was inaugu-
rated on Jan. 10 in Mumbai by Governor of
Maharashtra and Tamil Nadu Vidyasagar
Rao.
Consul General Riva Ganguly Das, chief
guest, and GOPIO’s elected officials as well
as prominent members of the community
will engage and par-
ticipate in this inau-
gural event at the
Consulate Ballroom,
a GOPIO press release
said.
The Indian
Diaspora, 30 million
strong and well estab-
lished over many
decades has also
established over 3
million businesses
overseas, GOPIO says.
GICC aims to bring
these diverse busi-
nesses spread
throughout the world
together onto one platform. The chamber,
through its networking and educational
efforts and by eventually establishing
chapters in various countries and many
key cities throughout the world, will
encourage these businesses to harness
their energies towards mutual advance-
ment and benefit.
GOPIO’s host committee for the New
York launch includes Dr. Thomas
Abraham, chairman, GOPIO International;
H. R. Shah, chair of the GICC Launch;
Prakash Shah, co-chair, GICC; Ram
Gadhavi, vice president, GOPIO
International; Dr. Rajeev Mehta, North
America International coordinator, GOPIO;
Lal Motwani, NewYork Tri-State Area coor-
dinator, GOPIO; and Beena Kothari, New
York Chapter president, GOPIO.
At the Mumbai GICC launch, Gov. Rao
expressed confidence that GICC will play a
big role in the future of India and in con-
necting businesses in India with Diaspora
businesses. “Success of Overseas Indians
are due to their hard work and determina-
tion and you are making significant contri-
bution to your adopted countries and at
the same time contributing to India,” he
told the GOPIO delegates.
Found in 1989, GOPIO, currently head-
quartered in NewYork, has 70 chapters in
30 countries around the world.
GOPIO International To Launch New York Chapter Of
International Chamber of Commerce
G
Maharashtra Governor Vidyasagar Rao delivers the inaugural address at the GOPIO International Chamber of Commerce (GICC) launch in
Mumbai on Jan. 10. Seated from left are, Vinod Juneja, Suresh Chokhanji, Noel Lal, Raj Purohit, Niraj Baxi, Vinesh Mehta, Prakash Shah,
Dr. Thomas Abraham and Nitin Shah.
Indian-American Arrested, Charged With Insider Trading In Manhattan
By a Staff Writer
A
n Indian-origin man who works as a
vice president and risk management
specialist for a Manhattan-based
investment bank was arrested April 24, and
charged with insider trading.
Avaneesh Krishnamoorthy, allegedly
made approximately $48,000 in connec-
tion with stock and options trading based
on material non-public information about
a private equity fund’s potential acquisi-
tion of a publicly traded company, accord-
ing to a press release from the office of the
U.S. Attorney for the Southern District of
NewYork. Krishnamoorthy was presented
on April 24 in Manhattan federal court
before United States Magistrate Judge
Kevin Nathaniel Fox. He is charged with
one count of securities fraud, which carries
a maximum sentence of 20 years in prison
and a maximum fine of
$5 million, or twice the
gross gain or loss from
the offense.
According to his
LinkedIn profile,
Krishnamoorthy is a
1993 graduate of the
National Institute of
Technology in
Karnataka. He earned
his MBA at Carnegie
Mellon University’s
Tepper School of Business. Since 2011, he
worked as a market risk manager at
Nomura Securities. Prior to that he was a
vice president at Morgan Stanley from
2007-2011.
“Avaneesh Krishnamoorthy is charged
with violating his duty to his company and
trading on insider information. He
allegedly exploited his access to informa-
tion about a pending acquisition to pur-
chase stock and options, making tens of
thousands of dollars in illegal profit for
himself,” said U.S. Attorney Joon Kim.
According to the papers filed in court,
Krishnamoorthy, as a vice president and
risk management specialist, had access to
material nonpublic information concern-
ing mergers and acquisitions for which the
Investment Bank might potentially provide
financing.
In November 2016, the U.S. Attorney’s
office says, a private equity fund contacted
the Investment Bank concerning financing
for the Fund’s acquisition of Neustar, Inc., a
publicly traded company whose shares
trade on the NewYork Stock Exchange.
Around that time, Krishnamoorthy
received multiple emails regarding the
Investment Bank’s potential involvement
in the transaction, including emails that
summarized the details of the deal, prose-
cutors say. They accuse Krishnamoorthy of
violating company policy and using the
information to acquire Neustar stock and
options, in his own name and that of his
wife. They also accuse Krishnamoorthy of
not revealing these trades or the existence
of these brokerage accounts to the
Company.
The public announcement of the Fund’s
acquisition of Neustar on Dec. 14, 2016,
resulted in an approximately 20 percent
increase in the value of Neustar stock in
the hours following the announcement,
resulting in a corresponding increase in the
value of the call options and equity stock
held by Krishnamoorthy and his spouse,
prosecutors maintain.
A street sign for
Wall Street is seen
outside the New
York Stock
Exchange (NYSE) in
Manhattan, New
York City, U.S. Dec.
28, 2016.
REUTERS
1...,6,7,8,9,10,11,12,13,14,15 17,18,19,20,21,22,23,24,25,26,...36
Powered by FlippingBook