Current Affairs 20th May 2014

Current Affairs 20th May 2014 - Important Points

• 630 crore rupees penalty on DLF upheld by Competition Appellate Tribunal

• Army Chief General Prayuth Chan-ocha declared to impose martial law in Thailand

• Former Indian President Dr. APJ Abdul Kalam honoured with honorary degree by University of Edinburgh

Current Affairs 20th May 2014 - Details

630 crore rupees penalty on DLF upheld by Competition Appellate Tribunal

The Competition Appellate Tribunal (Compat) on 19th May 2014, upheld a Rs 630-crore fine on reality giant DLF imposed by fair trade regulator in 2011 on a complaint that it had imposed arbitrary and unfair conditions on buyers in some group housing projects in Gurgaon.  DLF, as a result, will have to pay the penalty of 630 crore rupees levied by the CCI (Competition Commission of India) along with 9 per cent interest. 

This is the first major ruling of CCI in which its order has been upheld by the Compat. The Compat has given 60 days time to the company for the same. 

Earlier on 12 August 2011, CCI had imposed the penalty on DLF for abusing its dominant market position with regard to a residential society in Gurgaon. It slapped the penalty on DLF for violating Section 4 of the Competition Act, 2002.

Army Chief General Prayuth Chan-ocha declared to impose martial law in Thailand

General Prayuth Chan-ocha, Commander-in-Chief of Royal Thai Army, declared to impose martial law in Thailand on 20 May 2014. This decision was taken after caretaker government headed by Prime Minister Niwattumrong Boonsongpaisan refused to step down. The Army chief signed the military statement imposing the martial law in accordance with the 1914 law that allowed military to intervene during crisis time.

The martial law was imposed in the country amid political crisis to preserve law and order in the country. The declaration also granted wide ranging powers to the army to enforce its decision. 

Former Indian President Dr. APJ Abdul Kalam honoured with honorary degree by University of Edinburgh

The former president of India, Dr APJ Abdul Kalam has been awarded an honorary degree by the University of Edinburgh. The award - which was presented by University Principal, Professor Sir Timothy O'Shea - is in recognition of Dr Kalam's outstanding contribution to science and technology, and his commitment to helping transform India into a developed nation by 2020.