Latest news with #NisarAli
New Indian Express
24-06-2025
- Business
- New Indian Express
J&K suffered over Rs 60K cr in losses due to IWT: Expert
SRINAGAR: Jammu and Kashmir has suffered economic losses of over Rs 60,000 crore due to the Indus Waters Treaty (IWT) since the bilateral pact came into force in 1960, according to an expert. 'Jammu and Kashmir has been the sufferer, worst hit by the IWT,' said former Professor of Economics at Kashmir University, Dr Nisar Ali, demanding a scientific assessment to know the true extent of the loss. The estimated losses are around Rs 60,000 crore, while official reports peg them at Rs 20,000 crore between 1960 and 1998, Dr Ali said. Under the IWT, Pakistan received an allocation of the western rivers (Indus, Jhelum, and Chenab), while India received the eastern rivers (Ravi, Beas, and Sutlej). According to Dr Ali, J&K's losses began to mount as it was not allowed to construct dams beyond a certain height and 'we cannot irrigate more than 13 lakh hectares of land'. As a result, the state failed to make optimum use of the Chenab and Indus waters, he said, adding: 'We cannot make big dams for power projects. We must utilise the run-of-the-river resources. If we had big dams, we could have stored more water and generated more electricity.' Such underutilisation led to the loss of electricity as a resource and limited agricultural activities, which, in turn, impacted development. Else, 'we could have big industries here'. Experts contend that of J&K's hydro potential of 20,000 MW, only 3,400 MWs have been harnessed. The result is that from being a self-sufficient economy in 1954, J&K is now dependent on central funds, and the IWT is partly responsible for this, according to the Professor. Sources said that past state governments had twice attempted to quantify the losses J&K suffered due to IWT by hiring external consultants. However, the first attempt in 2013 did not see the light of day because the consultant backed out because of official cold-shouldering. The second one in 2018 was shelved for unknown reasons, he said.
Time of India
14-05-2025
- Business
- Time of India
Two held for duping man of 83 lakh on pretext of investment
Indore: Two habitual fraudsters involved in a high-value investment scam worth Rs 83 lakh were arrested in Indore. The complainant alleged that the duo lured him into investing in various business DCP Rajesh Dandotiya said that Mohit Mahajan, 38, a resident of Telephone Nagar, Kanadia Road and Nisar Ali, 39, a resident of Labaria Bheru, lured the victim by promising high returns on investments in music events, tiles and marble business, and FMCG product wholesale to the complaint filed by Rohan, the fraud occurred between August 25, 2023 and March 19, 2024. During this period, the accused collected a total of Rs 1.17 crore from the victim, initially building trust by returning small amounts as profits. However, they eventually withheld a substantial sum of Rs 83 lakh, deceiving the the complaint, the Crime Branch registered an FIR. Investigators gathered technical information about the accused and arrested both individuals. It was revealed during interrogation that the duo committed similar offences against multiple victims and several cases are already registered against Mahajan, who is educated up to class 12, claimed to work as a property broker and in music events. He has two previous fraud cases registered against him at Palasia Police Station. Nisar Ali, on the other hand, confessed to running a money-lending business and admitted to being involved in multiple fraudulent activities in the accused were produced in court and police remand was sought for further interrogation and investigation into their network and additional crimes.
