Arihant launched at Visakhapatnam

India’s first indigenously built nuclear propelled strategic submarine named ‘Arihant’ meaning ‘Destroyer of the Enemies’ was launched today, 26 Jul 09, at the Ship Building Center, Visakhapatnam. India has thus joined a select group of nations which have the technological capability to build and operate nuclear propelled submarines.

The launch ceremony was attended by the prime Minister. Dr. Manmohan Singh, accompanied by Smt. Gursharan Kaur, Raksha Mantri Shri.AK Antony, Chief minister of Andhra Pradesh Dr. YS Rajasekhar Reddy, Raksha Rajya Mantri Shri MM Pallam Raju, Minister of State for Human Resource Development, Smt. D Purandareswari, Chief of the Naval Staff Admiral Sureesh Mehta and high ranking officials from the Navy, Department of Atomic Energy, and Defence Research and Development Organisation.

On this occasion, the Prime Minister congratulated the Director General of the ATV (Advanced Technology vehicle) Program Vice Admiral DSP Verma (Retd) and all personnel associated with it for achieving this historic milestone in the country’s defence preparedness. He noted that they had overcome several hurdles and barriers to enable the country to acquire self reliance in the most advanced areas of defence technology. The Prime Minister made a special mention of the cooperation extended by Russia.

The Prime Minister stated that the Government is fully committed to ensuring the Defence of our national interests and the protection of our territorial integrity. The Government would render all support to the constant modernization of our defence forces and to ensuring that they remain at the cutting edge of technology.

The Raksha Mantri conveyed to the gathering that the industrial capacity, Know-how and trained manpower that has been built up will sustain the construction of not only strategic platforms but will kick start a new age in ship construction in the country.

The ATV Program has spawned a new era in the field of cooperation between DRDO, BARC, Navy, PSUs and Private industry in which these organisations have synergized their efforts to achieve a significant technological and strategic milestone. Following the launch, the submarine will undergo various trials before it is formally commissioned in the Indian Navy.

CBI Inquiry into Rice Export and State Trading Corporation

The Central Bureau of Investigation has registered a case against President of Delhi based firm and some officials of State Trading Corporation (STC) for causing loss to the tune of Rs. 72.43 Crores to the STC and corresponding gain to the firm. It is alleged that some officials of STC in furtherance of a criminal conspiracy with President of Delhi based firm abused their official position as public servants to show undue favours to the firm, which resulted in a loss to the STC.

During 2001-2005, wheat and rice was exported by STC with the help of said firm, which was one of its associate companies. This wheat & rice was obtained from Food Corporation of India (FCI) and STC made a payment of Rs. 154.2 Crores to FCI on behalf of said firm. However, STC could recover only Rs. 101.7 Crores from the exports made through said firm and Rs. 72.43 Crores are still outstanding on the part of said firm. It is further alleged that the firm had committed various irregularities and illegalities in the export and had cheated STC. The STC officials did not take any action against the firm and allowed the company to use STC’s funds in violation of the laid down norms. Some of the export proceeds were illegally received by this firm directly in their account and were not paid to STC. The firm had unauthorizedly used letterheads of STC to divert some of these export proceeds.

Searches were carried out in Delhi and Ahmedabad at the office & residences of the accused persons/ company i.e. the President of Delhi based firm; the then CMD, STC ( now retired); two Directors, STC (now retired); GM,STC ( now retired); CGM, STC, New Delhi; Marketing Manager,STC, New Delhi; Branch Manager,STC, Ahmedabad and the then Branch Manager,STC, Ahmedabad.

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