Breaking news: Breaking news

Anchor: To all of you just joining us, we have a major breaking news at this hour and to get the full details of the same we will go straight across to our Chief Correspondent Neena Kaur, who is right now at the Supreme Court. Neena, what is the latest development in the breaking news that we are reporting now?

Neena: Sumeet, as I speak, with the Supreme Court right behind me, I can confirm that this is indeed breaking news, but the details as they emerge are sketchy. So we wouldn’t want to speculate or report something that can prejudice the developments. But at this point in time it does, however, look like that this is a huge breaking news. Back to you, Sumeet

Anchor: Neena, is the Prime Minister, who is right now in China, aware of the latest developments? Has he been kept in the loop by his team here?

Neena: Sumeet, again it is too early for me to say. Sources in the PMO are, as has been the case for the last one year, tightlipped and are not willing to divulge anything away. But we can take it that he would have been briefed about the news that we are breaking now.

Anchor: Good work, Neena. We will keep coming back to you for further updates on this important breaking news that we have now. Meanwhile, we will go across to our National Editor Rajesh Varma to get a political perspective on the developments. Rajesh, give us your take on the whole thing.

Rajesh: Sumeet, what we are breaking now has no real political parallel here or anywhere else. But having said that let me also hasten to add that we should wait a bit for more details to emerge, which I suppose it would very shortly. But make no mistake about it, we are in for some very, very interesting times. To be sure, the ramifications as and when they happen would be greatly political.

Anchor: Rajesh, nicely summed up, covering the various political aspects of the story that we are breaking now. Also, we are now being joined by our Mumbai Bureau chief Vaidehi Krishnan with all the latest developments from Mumbai over the latest developments from Delhi.

Vaidehi: That’s right, Rajesh. What we have indeed is the absolute latest, even though it is too early for us to say anything specific or concrete over and above what we already know. But needless to say, this has huge financial implications, too and to discuss the same I have with me Abhishek Shah, a leading stock broker. Abhishek, how will the stock market respond to all that is happening?

Abhishek: These developments without doubt will have a bearing on the stock market. You can bet that the share prices will react one way or the other, which they anyway do. But which way the stock market is headed is something difficult to speculate now as there are many imponderables. But If I were the Finance Minister I wouldn’t be feeling easy.

Vaidehi: You mean to say that the Finance Minister has a huge headache in prospect. And he has to clear the mess right at the start before the whole thing grows casts a shadow on the all-important corporate confidence, which, at any rate, is not exactly very high. Back to you, Sumeet.

Anchor: Thanks, Vaidehi. The news from Mumbai is certainly something that should deeply concern the Finance Ministry officials, who, of course, are not ready to go on record on the problem that they are facing now. We are once again joined by our Chief Correspondent Neena for more latest news. Neena, what have you got for us?

Neena: Sumeet, we can now confirm to our viewers that the Supreme Court, from where I am speaking now, is fully seized of the matter thanks to a PIL filed by a Delhi advocate, who wanted the court to get to the depth of the news that we have been breaking. In response to the PIL, the Supreme Court has sent notices to the Prime Minister’s Office, the Finance Ministry and the National Stock Exchange and asked them to respond within two weeks, even though the court itself will be in vacation for the whole of next month.

Anchor: I will now sum up all the developments at this hour: In a major embarrassment to the PMO, the Supreme Court has sent a notice to it seeking, among other things, explanation on what exactly is happening between it and the Finance Ministry over some developments, which are still sketchy at the moment. It is also learnt that the PM, who is in China, may have been kept intimated and, upon his return, he is expected to confront the Finance Minister on the perplexing turn of events, especially ahead of the Bihar elections. As we slip into a small commercial break, don’t forget to tune into our special show later tonight where we discuss the latest developments with Ranbir Kapoor, Anushka Shrama and other cast of Bombay Velvet.