Latest news with #Baskaran
The Hindu
12-07-2025
- The Hindu
Sub-Registrars booked on charges of accepting bribe in Puducherry
Two Sub-Registrars of the Registration Department Office at Saram, Puducherry, have been booked by the Vigilance and Anti-Corruption unit of the Puducherry police on charges of demanding a bribe for the registration of a settlement deed for a property in Mudaliarpet. An officer in the Vigilance unit identified the accused as R. Sriganth and M. Baskaran. They have been booked under Sections 7, 12, 14 (1)(b) of the Prevention of Corruption Act, 1988. Steps are under way to arrest the accused. The case was registered following a complaint made by District Registrar J. Dayalane. The charges came to light after a video of Mr. Sriganth allegedly taking a sum of ₹10,000 as bribe from a person near a toilet at the Registration office surfaced on social media. The Revenue department ordered an internal probe after suspending Mr. Sriganth. Later, it was revealed that Mr. Baskaran, who was assigned only to deal with marriage registration as Sub-Registrar, had collected ₹10,000 on behalf of Mr. Sriganth on another occasion in connection with the registration of the settlement deed. The Vigilance has gathered digital evidence as proof of Mr. Baskaran collecting the bribe, the officer said.
CNBC
28-06-2025
- Automotive
- CNBC
How China could shut down auto factories around the world
China's dominance of the global supply chain is starting to hurt automakers. On April 4, the country cut off exports of a class of minerals called "heavy rare earth elements," and it sent the global auto industry into a panic. Rare earths are a class of 17 elements that have become indispensable in all kinds of applications — everything from fighter jets and submarines, to smartphones and appliances. You can even find them in sports equipment, like tennis rackets and baseball bats. They are also, of course, essential to the modern automobile. Gas burning cars use them to filter pollution through the vehicle's catalytic converter. Electric vehicles use them in motors and batteries. "Rare earths are really critical, and not just for electric vehicles," said Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies. "They are in your seat belt, your steering wheels, various parts of your electrical components. You are not going to manufacture a car without rare earths." Rare earths are split into further categories, based on their atomic weight. Light rare earths are easier to source. It's the medium and heavy ones that China has totally monopolized. China controls about 70% of the world's rare earth mines. But where it really dominates is in processing. The name "rare earth elements" is a bit misleading — the elements themselves are not that rare in nature. What makes them "rare" is the complex and difficult process of separating them from the rock they are embedded in, and from each other. China controls about 90% of the world's rare earth processing, and has a total monopoly on the processing of heavy rare earths. Since at least 2023, China has been tightening its grip on several of the key critical minerals it provides for the world, Baskaran said. Still, the April 4 export restrictions shocked the automotive world. "It came out of nowhere," said Dan Hearsch, managing director at AlixPartners. "Nobody had any time to react to it. I mean, within a matter of weeks, all of the material in the pipeline was out." European automakers shut down factories. Ford had to idle production of its popular Explorer SUV. This month, China started permitting some access to companies that supply parts to some automakers. And this week the Trump administration said it had reached a deal to expedite rare earth and magnet shipments to the U.S. Still it is unclear how durable these deals will be. "We're not out of the woods yet," Baskaran said. "There is a lot of volatility in the U.S.-China relationship in between tariffs and mineral restrictions. We've seen China ramp up restrictions over two years. Rare earths are just the newest one." There are longer-term solutions if China cuts off access again: recycling, developing other sources and innovation, for example. This crisis may even spur the industry to take action that reduces dependence on China. But this rare earths crisis is just the latest in a series of supply disruptions over the last several years. Hearsch said it will likely get worse. "Today it's rare earths," Hearsch said. "But tomorrow it can and will be something else that maybe we're not thinking about, that maybe isn't even all that valuable and suddenly will be." Watch the video to learn more
NBC News
24-06-2025
- Business
- NBC News
How a war-torn Myanmar plays a critical role in China's rare earth dominance
Beijing has been stepping up controls on rare earth exports, triggering global shortages and exposing industries' dependence on Chinese supply chains. However, over recent years, China itself has become reliant on rare earth supplies from an unexpected source: the relatively small and war-torn economy of Myanmar. While China is the world's top producer of rare earths, it still imports raw materials containing the coveted metals from abroad. Myanmar accounted for about 57% of China's total rare earth imports last year, Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, told CNBC. According to Chinese Customs data, Myanmar's rare earth exports to China significantly picked up in 2018 and reached a peak of nearly 42,000 metric tons by 2023. Baskaran added that the imports from Myanmar are also particularly high in heavy rare earth element contents, which are generally less abundant in the earth's crust, elevating their value and scarcity. 'Myanmar's production has significantly strengthened China's dominant position, effectively giving Beijing a de facto monopoly over the global heavy rare earths supply chain — and much of the leverage it wields today.' The country has become a key source of two highly sought-after heavy rare earths, dysprosium and terbium, that play crucial roles in high-tech manufacturing, including in defense and the military, aerospace and renewables sectors. 'This dynamic has given rise to a supply chain in which extraction is concentrated in Myanmar, while downstream processing and value addition are predominantly carried out in China,' said Baskaran. Why Myanmar? Myanmar is home to deposits that tend to have higher heavy rare earth content, David Merriman, research director at Project Blue, told CNBC. These 'ionic adsorption clay,' or IAC, deposits are exploited through leaching methods that apply chemical reagents to the clay — and that comes with high environmental costs. According to Merriman, the vast majority of the world's IAC operations were in Southern China in the early to mid-2010s. But, as Beijing began implementing new environmental controls and standards in the rare earths industry, many of these projects began to close down. 'Myanmar, particularly the north of the country, was seen as a key region which had similar geology to many of the IAC deposit areas within China,' Merriman said. 'You started to see quite a rapid buildout of new IAC-type mines within Myanmar, essentially replacing the domestic Chinese production. There was a lot of Chinese business involvement in the development of these new IAC projects.' The rare earths extracted by these IAC miners in Myanmar are then shipped to China mostly in the form of 'rare earth oxides' for further processing and refining, Yue Wang, a senior consultant of rare earths at Wood Mackenzie, told CNBC. In 2024, a report from Global Witness, a nonprofit focused on environmental and human rights abuses, said that China had effectively outsourced much of its rare earth extraction to Myanmar 'at a terrible cost to the environment and local communities.' China's rare earth risks China's reliance on Myanmar for rare earths has also opened it up to supply chain risks, experts said. According to Global Witness's research, most of the heavy rare earths from Myanmar originate from the Northern Kachin State, which borders China. However, following Myanmar's violent military coup in 2021, the military junta has struggled to maintain control of the territory amid opposition from the public and armed groups. 'Myanmar is a risky jurisdiction to rely on, given the ongoing civil war. In 2024, the Kachin Independence Army (KIA), a group of armed rebels, seized sites responsible for half the world's heavy rare earths production,' said CSIS' Baskaran. Since the seizure, there have been reports of supply disruptions causing spikes in the prices of some heavy rare earths. According to a Reuters report, the KIA was seeking to use the resources as leverage against Beijing. Chinese customs data shows imports of rare earth oxides from Myanmar fell by over a third in the first five months of the year compared with the same period last year. 'If Myanmar were to cease all exports of rare earth feed stocks to China, China would struggle to meet its demand for heavy rare earths in the short term,' said Project Blue's Merriman. Not surprisingly, Beijing has been looking to diversify its sources of heavy rare earths. According to Merriman, there are IAC deposits in nearby countries, including Malaysia and Laos, where some projects have been set up with Chinese involvement. Still, he notes that environmental standards are expected to be higher in those countries, which will present challenges for rare earth miners. China's decision to cut back on its own extraction of heavy rare earth elements may serve as a warning to other countries about the costs of developing such projects. A report by Chinese media group Caixin in 2022 documented how former IAC operation sites in Southern China had left behind toxic water and contaminated soil, hurting local farmers' livelihoods.
CNBC
24-06-2025
- Business
- CNBC
How a war-torn Myanmar plays a critical role in China's rare earth dominance
Beijing has been stepping up controls on rare earth exports, triggering global shortages and exposing industries' dependence on Chinese supply chains. However, over recent years, China itself has become reliant on rare earth supplies from an unexpected source: the relatively small and war-torn economy of Myanmar. While China is the world's top producer of rare earths, it still imports raw materials containing the coveted metals from abroad. Myanmar accounted for about 57% of China's total rare earth imports last year, Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, told CNBC. According to Chinese Customs data, Myanmar's rare earth exports to China significantly picked up in 2018 and reached a peak of nearly 42,000 metric tons by 2023. Baskaran added that the imports from Myanmar are also particularly high in heavy rare earth element contents, which are generally less abundant in the earth's crust, elevating their value and scarcity. "Myanmar's production has significantly strengthened China's dominant position, effectively giving Beijing a de facto monopoly over the global heavy rare earths supply chain — and much of the leverage it wields today." The country has become a key source of two highly sought-after heavy rare earths, dysprosium and terbium, that play crucial roles in high-tech manufacturing, including in defense and military, aerospace and renewables sector. "This dynamic has given rise to a supply chain in which extraction is concentrated in Myanmar, while downstream processing and value addition are predominantly carried out in China," said Baskaran. Myanmar is home to deposits that tend to have higher heavy rare earth content, David Merriman, research director at Project Blue, told CNBC. These "ionic adsorption clay" or IAC deposits are exploited through leaching methods that apply chemical reagents to the clay — and that comes with high environmental costs. According to Merriman, the vast majority of the world's IAC operations were in Southern China in the early to mid-2010s. But, as Beijing began implementing new environmental controls and standards in the rare earths industry, a lot of these projects began to close down. "Myanmar, particularly the North of the country, was seen as a key region which had similar geology to many of the IAC deposit areas within China," Merriman said. "You started to see quite a rapid build out of new IAC type mines within Myanmar, essentially replacing the domestic Chinese production. There was a lot of Chinese business involvement in the development of these new IAC projects." The rare earths extracted by these IAC miners in Myanmar are then shipped to China mostly in the form of "rare earth oxides" for further processing and refining, Yue Wang, a senior consultant of rare earths at Wood Mackenzie, told CNBC. In 2024, a report from Global Witness, a nonprofit focused on environmental and human rights abuses, said that China had effectively outsourced much of its rare earth extraction to Myanmar "at a terrible cost to the environment and local communities." China's reliance on Myanmar for rare earths has also opened it up to supply chain risks, experts said. According to Global Witness's research, most of the heavy rare earths from Myanmar originate from the Northern Kachin State, which borders China. However, following Myanmar's violent military coup in 2021, the military junta has struggled to maintain control of the territory amid opposition from the public and armed groups. "Myanmar is a risky jurisdiction to rely on, given the ongoing Civil War. In 2024, the Kachin Independence Army (KIA), a group of armed rebels, seized sites responsible for half the world's heavy rare earths production," said CSIS' Baskaran. Since the seizure, there have been reports of supply disruptions causing spikes in the prices of some heavy rare earths. According a Reuters report, the KIA was seeking to use the resources as leverage against Beijing. Chinese customs data shows, imports of rare earth oxides from Myanmar fell by over a third in the first five months of the year compared to the same period last year. "If Myanmar were to cease all exports of rare earth feed stocks to China, China would struggle to meet its demand for heavy rare earths in the short term," said Project Blue's Merriman. Not surprisingly, Beijing has been looking to diversify its sources of heavy rare earths. According to Merriman, there are IAC deposits in nearby countries, including Malaysia and Laos, where some projects have been set up with Chinese involvement. Still, he notes that environmental standards are expected to be higher in those countries, which will present challenges for rare earth miners. China's decision to cut back on its own extraction of heavy rare earth elements may serve as a warning to other countries about the costs of developing such projects. A report by Chinese media group Caixin in 2022 documented how former IAC operation sites in Southern China had left behind toxic water and contaminated soil, hurting local farmers' livelihoods.
India Today
20-06-2025
- Politics
- India Today
High Court pauses ED action against film producer in Tamil Nadu liquor scam
The Madras High Court, on Friday, halted all proceedings by the Enforcement Directorate (ED) against film producer Aakash Baskaran. The court also directed the investigation agency to return all materials seized from ED raided multiple locations linked with Baskaran, and his associate, Vikram Ravindran, on May 16, in connection with the alleged scam in Tamil Nadu State Marketing Corporation (Tasmac). The ED's search and seizure operations at multiple premises were part of the intensified probe into the Tasmac a film producer at Dawn Pictures, came under the ED's scanner due to his alleged proximity to the ruling DMK party, specifically Deputy Chief Minister Udhayanidhi Stalin. His name emerged in connection with the alleged siphoning off of funds in the Tasmac scam. The Madras High Court questioned the legal foundation of the ED's actions against Baskaran and Ravindran. The Division Bench comprising Justices MS Ramesh and V Lakshminarayan held that the authorisation for the raids appeared to be prima facie beyond the ED's court also noted that the materials relied upon by the agency lacked any incriminating content justifying such coercive measures. The judges underscored that sealing premises in the absence of the occupants — without recording the presence of any material evidence — violated the scope of Section 17 of the Prevention of Money Laundering Act (PMLA), mere act of sealing cannot be presumed as equivalent to seizure,' the bench observed, as quoted by Live Law, adding that such actions risked misleading implications about the agency's on May 22, the Supreme Court issued a stay on ED's investigation into Tasmac. A senior DMK leader viewed this as a welcome move, stating it provides relief not just for Tamil Nadu but for all non-BJP states. The Supreme Court order came after the Tamil Nadu government moved a petition challenging Madras High Court's Madras High Court's sharp observations on Friday came after Baskaran and Ravindran submitted that the ED had sealed their offices and homes in their absence, and that no seizure was recorded in their presence as mandated by law. In response, the ED claimed it had attempted to contact the petitioners multiple times, but they did not cooperate. However, the court held that this did not justify sealing premises without following due and Ravindran both stated they weren't named as accused in any registered Enforcement Case Information Report (ECIR). This was confirmed by the ED's Special Public Prosecutor during the hearing, stated a report in the Indian court, noting this, directed the agency to return all seized materials and unseal the premises forthwith, reinforcing the principle that investigatory powers must remain within constitutional CASE OF ALLEGED TASMAC SCAMadvertisementThe ED's investigation stems from an alleged Rs 1,000 crore scam involving Tasmac. According to ED sources, distilleries under-reported expenses and issued bogus invoices — particularly for bottle manufacturing — in order to syphon unaccounted cash. These funds were allegedly used to pay bribes for securing favourable supply filed by the Directorate of Vigilance and Anti-Corruption (DVAC) between 2016 and 2021 form the basis of the PMLA ED, on March 6 and 8, conducted extensive raids targeting Tasmac's top officials, including Managing Director S Visakan, as well as private individuals suspected to be beneficiaries of the scheme. Aakash Bhaskaran's name surfaced due to alleged investments of diverted funds into the film industry, prompting the May 16 raids at locations associated with him and Ravindran.
