No liquor shops in vicinity
of schools,
hospitals in UP: SC

NEW DELHI, Feb 25: The Supreme Court today directed that no liquor shop will be allowed in Uttar Pradesh within a radius of 100 metres from educational institutions.......more

Indian defence market,
the new battleground
for pvt players

NEW DELHI, Feb 25: From traditional Indian auto makers to large constructions giants, Indian private companies are gearing up to tap into the multi billion dollar Indian defence market.....more

SC to hear bail pleas
of 2 cops in Sohrabuddin
case on March 24

NEW DELHI, Feb 25: The Supreme Court today fixed March 24 to hear the bail pleas of two police officials, allegedly involved in the......more

India’s moon mission
pushed to July first week

BANGALORE, Feb 25: India’s first planetary mission, Chandrayaan-1, has now been rescheduled to take place in the first week of July as the mission personnel work overtime to sort out payload integration ...more

Women to get complete
legal equality: President

NEW DELHI, Feb 25: Women in the country can hope for complete legal equality, with the Government making efforts to remove discriminatory legislations, President Pratibha Patil ....more

Terror arrests shock
people of Mithila belt

PATNA, Feb 25: The arrest of Mohammed Sabbauddin in connection with the recent blast at CRPF camp at Rampur village in neighbouring Uttar Pradesh has shocked people of the Mithila belt on the porous Indo-Nepal border where terrorist activity ......more

Honda to expand
dealership network in
3 yrs; doubles capacity

GREATER NOIDA, Feb 25: Preparing for its planned foray into the compact car segment ....more

Dish TV cancels issue
of Rs 250 cr securities
to PE fund

MUMBAI, Feb 25: Dish TV India, a part of Zee Network Enterprises, today said it has cancelled the allotment of securities worth Rs 250 crore to Mauritius-based .....more

     

Coens ‘no country for old men’ wins four Oscars...........

HDFC bank to issue one share for every 29 in CBOP for merger ...........

Terror arrests shock people of Mithila belt ..........

Strike of public sector banks called off ........

No liquor shops in vicinity of schools, hospitals in UP: SC

NEW DELHI, Feb 25: The Supreme Court today directed that no liquor shop will be allowed in Uttar Pradesh within a radius of 100 metres from educational institutions, hospitals and religious places.

A bench comprising Justices A K Mathur and Aftab Alam issued the directions on the petition filed by the Uttar Pradesh Government challenging the Allahabad High Court order permitting liquor shops in close vicinity of schools in Lucknow.

Acccording to the UP Government, sale of liquor in the vicinity of schools, hospitals and religious places can be a source of public nuisance and spoil the atmosphere around such places. It will also result in disturbing the peace required around such places. (UNI)

Indian defence market, the new
battleground for pvt players

NEW DELHI, Feb 25: From traditional Indian auto makers to large constructions giants, Indian private companies are gearing up to tap into the multi billion dollar Indian defence market.

Even though, firms like Tata, Mahindra and Mahindra, Ashok Leyland, Larsen and Toubro (L&T) among others have been associated with the Indian military for some years, industry leaders point out that in the coming years, defence would turn out to be a huge market in which the private players will play a major role.

While the Union Budget 2007-2008 has earmarked Rs. 96,000 crore for national Defence, industry Chambers like CII, estimates that total defence spending over acquisition and purchases for the next five years would be approximately Rs 1,88,000 crores (USD 45.85 billion).

And, experts point out that this market potential is driving Indian firms to set up R&D and ink JVs with foreign defence players eager to offer their products to the Indian military.

"Though industry estimates have stated that in the next 3-5 years, Indian defence spending is likely to increase to around USD 40 billion, our analysis say that the market figures are underestimated," Mahindra and Mahindra, Vice Chairman and Managing Director, Anand Mahindra said.

He adds, "The market can anywhere be around USD 100 billion and this gives the private players like us a huge market to tap into."

He says, at present Defence contributes to just about Rs 100 crore to the firm’s annual income.

Not just the Mahindras, Tata, one of the largest private industrial group in India, is also keen to tap into the defence market.

"Defence is one sector that we are keenly looking at. We have been associated with this sector for a very long time. We will continue to play a major role in this sector in the coming years," says V S Noronha, Head of Defence Business in Tata Motors, refusing to elaborate.

Even, Ashok Leyland, one of the largest heavy vehicle manufacturers and a supplier of heavy vehicles to the Indian armed forces, is now focusing on building light armoured vehicles for the Indian army. The firm is also working on developing a mine-protected vehicle and is in talks with overseas firms to partner it in the project.

"The defence market offers great growth. We have been front runners in offering land systems to the Army. We have already launched our new vehicles including a light specialist vehicle which is currently in trial with the army. We have set out eyes not only on the domestic market but as well as the foreign market," says B Khaitan, Special Director, Specialist Vehicles, Ashok Leyland.

Defence experts point out that with liberalisation and opening up of the defence market to private players, a new and huge market previously dominated by public sector has opened up for the Indian private firms.

Experts point out that after considering the capital intensive nature of defence industry sector as also the need to infuse foreign technology and additional capital including FDI, Government decided in May, 2001 to open Defence industry for private sector participation up to 100 per cent with FDI permissible up to 26 per cent - both subject to licensing.

Now with this policy change all defence related items have been removed from Reserved Category and transferred to the licensed category, as a result of which private sector can manufacture all types of defence equipment after getting a licence, they say.

"After the announcement of policy changes, there has been a paradigm shift in the role of private sector in the field of indigenisation, that is, from the role of supplier of raw materials, components, sub-systems, they have now become partners in the manufacture of complete advanced equipment/system," says a senior CII official.

"The market is still growing for the private players. There are a few hiccups which the Government needs to take care of. We as a firm are not associated with defence just because of the market alone but also because of a national commitment," says Jayant D Patil, Vice President, Heavy Engineering Division, L&T.

L&T is one of the largest private player in the defence market especially in Naval systems.

Agreeing that the income generated from defence products is very small to the annual turnovers of the companies, officials point out that, it is the growth potential of the market that excites them.

"The turnover generated by Mahindra Defence Systems (MDS) which is our defence arm is small compared to our overall revenue. But, we are investing in R&D to offer the best services to our armed forces. In terms of market, then it is the future that we are looking at," says Mahindra.

M&M is hoping to bid for an estimated USD 3 billion for land systems to the Indian military in the next 3-5 years with its new stable of five specialised armoured vehicles - Mahindra Axe, Marksmen, Striker, Up Armoured Scorpio and Mine Protected Vehicle.

MDS, which is primarily into land defence systems, like bulletproof vehicles among others, is aggressively looking at diversifying into other peripheries, Mahindra added.

Similarly, Tata Motors,recently unveiled its new range of tactical and armoured vehicles which can be used by armed forces for special missions and to turn the tide in counter insurgency operations.

This is the second major foray by the company in the defence sector after it won the bid to make Pinaka multi barrel rocket launchers.

Though there are reports that the Tatas plan to form an independent defence industrial entity, its top executives present at the launch were tight lipped about the matter.

But, it is not just the big players with deep pockets who are concentrating on the defence sector, but also much smaller firms.

"Defence is one sector where we see ourselves growing. In terms of revenue, it is a small market for us at present but we are constantly coming out with new products for the armed forces," says Vishwanath S H, Marketing Manager, EDS Technologies, a Bangalore based company which is into making computer softwares for Defence establishments.

Senior officials of the firms spoke to admit that it is not just the domestic market that attracts them but also foreign markets.

"Domestic market is a different thing. Overseas markets also throws up huge scope for us to offer our products. It is now becoming a win-win situation for us," says a senior official of a major private Defence player. (PTI)

SC to hear bail pleas of 2 cops
in Sohrabuddin case on March 24

NEW DELHI, Feb 25: The Supreme Court today fixed March 24 to hear the bail pleas of two police officials, allegedly involved in the fake encounter case relating to Sohrabuddin Sheikh in Gujarat.

A bench headed by Justice Arijit Pasayat issued notice to the Gujarat government on the petition filed by Rajasthan cadre IPS officer Dinesh M N and N K Amin, a DSP rank officer in the Gujarat police.

Dinesh had allegedly assisted the Gujarat police in the encounter, while Amin has been accused of disposing off the body of Kauser Bi, wife of Sohrabuddin, two days after she was killed. (PTI)

India’s moon mission pushed to July first week

BANGALORE, Feb 25: India’s first planetary mission, Chandrayaan-1, has now been rescheduled to take place in the first week of July as the mission personnel work overtime to sort out payload integration and launch-related issues.

"We are targeting the end of June. We will try to make it in the first week of July," a senior scientist associated with the Rs 386 crore moon mission said here today on condition of anonymity.

The lunar mission was originally scheduled for April this year, a time-frame targeted four years ago to get all the payloads well ahead of time and to galvanise the scientists into mission mode with a target to work on.

Indian Space Research Organisation officials insisted that there are no hardware problems and that the space agency is moving more cautiously to ensure that all systems are well tested before and after integration at each stage.

The 525-kg lunar orbiter will carry as many as 11 instruments (payloads), including six from overseas-two from the US and one each from Britain, Sweden, Germany and Bulgaria.

"Normally we have 2-3 instruments (on board satellite). For the first time, we have 11 instruments from different institutions. We have to ensure that the integration work takes place to our satisfaction", Project Director of Chandrayaan-1 M Annadurai said.

Stressing on inter-compatibility of various instruments on board, Annadurai said ISRO is working on ensuring that "all the systems (one system) does not disturb other systems’ performance". "Any system of this volume will have its own issues that need to be solved before proceeding to the next step," he said.

"The issue gets compounded as the organisations are many. When we do this, it will add to taking away schedule cushions. Just to keep the launch target, we don’t want to overlook any issue that will compromise the unqualified success of the mission".

ISRO had earlier proposed to launch the lunar probe on April nine and if not on that day, then on April 23.

"If systems (once integrated and with propellants loaded) are kept for 14 days, then there could be some deterioration", he said, adding, ISRO is now working on a strategy that would allow it to have more number of launch opportunities. "We have almost arrived at a strategy".

ISRO would keep a half-an-hour launch window on a given day, and if it is not in a position for the mission during that period, it could be done in the subsequent two days as well, Annadurai explained. (PTI)

Women to get complete legal equality: President

NEW DELHI, Feb 25: Women in the country can hope for complete legal equality, with the Government making efforts to remove discriminatory legislations, President Pratibha Patil said today.

"We have moved closer to complete legal equality for women in all spheres by removing discriminatory legislation, amending existing legislation and by enacting new legislation that gives women equal rights of ownership of assets like houses and land," Patil said addressing the Joint Sitting of Parliament on the opening day of the Budget Session.

She said amendments were being considered to the Indecent Representation of Women (Prohibition) Act, 1986, the Dowry Prohibition Act, 1961 and the Medical Termination of Pregnancy Act, 1971.

Laws pertaining to bonded labour, plantation labour, factory and migrant labour will also be made gender-sensitive.

"Removal of age-old prejudices, particularly bias against women in society is the biggest challenge to achieve equality," said Patil, who made history by becoming the first woman President of the country.

"My Government is committed to strictly enforce laws relating to dowry, female infanticide, female foeticide and human trafficking and to realise a gender-neutral India," she said.

The President also said empowerment of women through female literacy was the single biggest challenge in the social sector.

"The National Literacy Mission will make acceleration of female literacy its key goal," she said. (PTI)

Terror arrests shock people of Mithila belt

PATNA, Feb 25: The arrest of Mohammed Sabbauddin in connection with the recent blast at CRPF camp at Rampur village in neighbouring Uttar Pradesh has shocked people of the Mithila belt on the porous Indo-Nepal border where terrorist activity is unheard of.

Sabbauddin’s arrest, which also stunned his family members, and establisment of link of some other youths to underworld Don Dawood Ibrahim, the Rampur blast and the Mumbai train blast have also alerted the security set-up in the Mithila belt.

Sabbauddin, who was arrested from Lucknow a few days after the incident, is alleged to be a member of the dreaded terrorists’ organisation - Laskar-e-Toiba - official reports said.

Deputy Inspector-General of Police (Mithilanchal range), Darbhanga, Vinay Kumar, however, said that the arrest of some youths could not be taken as a proof of the entire belt’s slide to terrorism.

"In fact, our investigations suggest that there are some instances of a couple of youths, who ventured out of the area for livelhood or studies, were trapped and forced by terrorists to engage in unlawful activity and anti-national acts," he said.

Inquiry revealed that Sabbauddin, who was arrested in connection with the Rampur CRPF camp blast, hailed from a ordinary family as his father Shabbid Ahmed, a resident of Sakri Police Station in Madhubani district, was a Panchayat representative and all other family members were well educated, the DIG said.

"Investigations have revealed that Shabbir’s is a respected family which has never been engaged in any social evil and we are surprised by his link with terrorist organisation," the DIG said.

Earlier, one Mohammed Kalam of village Basopatti in Madhubani district was arrested in connection with Mumbai train blast case.

There was nothing found on records about Kalam’s criminal antecedents in Bihar, official sources said.

Kalam, a sober and decent youth, left home searching for job outside the state, but he was lured by terrorists into doing unlawful acts, they said.

Alleged connections of Fazlur Rehman, who hails from village Baghauli under Jale Police Station in Darbhanga district, with underworld Don Dawood Ibrahim has also brought disrepute to the Mithilanchal belt.

Rehman, who was arrested from Uttar Pradesh, is now lodged in judicial custody in a jail at Darbhanga, the sources said.

Another youth from Darbhanga Jama Khan, who is believed to be closely associated with the Dawood Ibrahim gang, fell prey to internecine conflicts within the gang in Nepal a few months ago, the police revealed. (PTI)

Honda to expand dealership network
in 3 yrs; doubles capacity

GREATER NOIDA, Feb 25: Preparing for its planned foray into the compact car segment in India, Japanese auto major Honda today said it will be expanding dealership network across 90 cities in the country in the next three years.

The company will also expand its production capacity to 1,60,000 units by the end of next year.

"In preparation for Honda’s planned foray into the compact car segment, we are expanding our dealership network to 160 in 90 cities in the next three years," Honda Siel Cars India President and CEO M Takedagawa said at the inauguration of its new unit here.

The company currently has a network of 80 dealers in 51 cities and will be taking up the number to 100 in 2008-09.

HSCI’s facility here will have a capacity of 1,00,000 units, up form the current 50,000 units. It has invested Rs 400 crore in the capacity expansion. With this investment, HSCI has invested a total of Rs 1,620 crore since it started operations in India in 1997.

The company, which is currently constructing a second manufacturing facility in Rajasthan, expects to start production there with an initial capacity of 60,000 units. (PTI)

Dish TV cancels issue of Rs 250 cr securities to PE fund

MUMBAI, Feb 25: Dish TV India, a part of Zee Network Enterprises, today said it has cancelled the allotment of securities worth Rs 250 crore to Mauritius-based private equity fund Indivision India Partners (IIP) on a preferential basis.

The process of issue and allotment of equity shares and warrants to IIP on a preferential basis stands withdrawn and cancelled, Dish TV said in a filing to the Bombay Stock Exchange.

"Due to recent volatility in the Indian markets, IIP wanted to drop taking the warrants and the Board of Dish TV felt that since the promoters are fully backing as well as the growth of customer acquisition is robust, we should not accept the change in deal structure, hence the company declined the change," Dish TV Managing Director Jawahar Goel said.

The company has a complete plan for required funding, Dish TV said in a filing to the Bombay Stock Exchange.

"We reiterate our commitment toward Dish TV business and are confident of its growth prospects ahead. The promoters have in the past infused funds into the business as and when required, and would continue to support in the near future," Dish TV Chairman Subhash Chandra said.

Indivision was supposed to be allotted 1.25 crore equity shares of Dish TV of Re 1 each at a price of Rs 100 each, aggregating Rs 125 crore.

Further, the private equity fund was to subscribe 9,615,385 warrants - each convertible into an equity share - at a price of Rs 130 per equity share aggregating to Rs 125 crore. (PTI)

Coens ‘no country for old men’ wins four Oscars

LOS ANGELES, Feb 25: The Coen brothers completed their journey from the fringes to Hollywood’s mainstream, their crime saga "No Country for Old Men" winning four Academy Awards, including best picture, in a ceremony that also featured a strong international flavour.

Europeans swept the acting categories last night. British actor Daniel Day-Lewis and France’s Marion Cotillard were best lead actor and actress. The supporting actor and actress prizes went to Spain’s Javier Bardem and British actress Tilda Swinton.

Bardem won for supporting actor in "No Country," which earned Joel and Ethan Coen best director, best adapted screenplay and the best-picture honour as producers.

Accepting the directing honour alongside his brother, Joel Coen recalled how they were making films since childhood, including one at the Minneapolis airport called "Henry Kissinger: Man on the Go."

"What we do now doesn’t feel that much different from what we were doing then," Joel Coen said. "We’re very thankful to all of you out there for continuing to let us play in our corner of the sandbox."

Day-Lewis won his second best-actor Academy Award for the oil-boom epic "There Will Be Blood," while "La Vie En Rose" star Cotillard was a surprise winner for best actress, riding the spirit of Edith Piaf to Oscar triumph over British screen legend Julie Christie, who had been expected to win for "Away From Her."

Swinton won for her portrayal as a malevolent attorney in "Michael Clayton."

As a raging, conniving, acquisitive petroleum pioneer caught up in California’s oil boom of the early 20th century, Day-Lewis won for a part that could scarcely have been more different than his understated role as a waiter with severe cerebral palsy in 1989’s "My Left Foot"

"My deepest thanks to the academy for hacking me with the handsomest bludgeon in town," Day-Lewis said.

Day-Lewis walked up the steps to accept his trophy from Helen Mirren, then went down on one knee before her, head bowed. Mirren, last year’s best actress winner for "The Queen," picked up his cue, touching Lewis’s Oscar to his shoulders as she could royal sword.

"That’s the closest I’ll ever come to getting a knighthood," the Englishman said.

The Coens missed out on a chance to make Oscar history-four wins for a single film-when they lost the editing prize, for which they were nominated under the pseudonym Roderick Jaynes.

"The Bourne Ultimatum" won the editing Oscar and swept all three categories in which it was nominated, including sound editing and sound mixing.

Past winners for their screenplay to 1996’s "Fargo," Joel and Ethan Coen joined an elite list of filmmakers to win three Oscars in a single night, including Francis Ford Coppola ("The Godfather Part II"), James Cameron ("Titanic") and Billy Wilder ("The Apartment").

Cotillard, the first winner ever for a French-language performance, tearfully thanked her director, Olivier Dahan.

"Maestro Olivier, you rocked my life. You have truly rocked my life," said Cotillard. (AGENCIES)

HDFC bank to issue one share for every
29 in CBOP for merger

MUMBAI, Feb 25: Board of HDFC bank today approved issuance of one equity share for every 29 held in Centurion Bank of Punjab for merger of the two financial institutions.

The board has approved the share swap ratio of one share of Rs 10 each of HDFC bank for every 29 shares of Re one each held in Centurion Bank of Punjab, HDFC bank said in a filing to the Bombay Stock Exchange.

The share swap ratio is subject to due diligence to be conducted in this regard, it said.

The board noted that in the event of the merger, it would consider making a preferential offer to its promoter, Housing Development Finance Corporation Ltd, to enable HDFC to maintain its shareholding percentage in the bank.

HDFC bank’s board will meet on February 28 to consider the draft scheme of amalgamation, it said.

With the announcement of share swap ratio, the HDFC bank scrip surged 3.33 per cent to Rs 1,524, while that of CBOP dropped 7.27 per cent to Rs 52.30 on the Bombay Stock Exchange.

The proposed merger would help HDFC bank become the largest private sector lender in terms of branch network. The combined branch network would go up to 1,348 as against the existing private sector leader ICICI bank, which has close to 955 branches.

Country’s second-largest lender HDFC bank has about 754 branches while CBOP is currently having 394 branches across 180 locations.

However in terms of assets, ICICI bank would be much bigger than the proposed entity. While ICICI bank has Rs 3,76,700 crore worth of assets, the proposed combined entity would have over Rs 1,10,000 crore.

Hdfc bank has a promoter holding of 23.28 per cent, held jointly by HDFC Ltd, HDFC investments and HDFC holdings. The bank has 26.57 per cent FII holding, while local mutual funds and insurance firms own 3.39 per cent and 2.81 per cent respectively.

The bank has 1.08 per cent held by Central/State Governments, according to shareholding pattern as on December 31, 2007, as filed with the bourses.

Centurion Bank of Punjab, which is the fourth-largest private sector lender, is promoted by Bank of Muscat, HSBC finance, Sabre capital. Bank of Muscat holds the maximum equity of 14 per cent in the bank.

Following inorganic route of growth, Centurion Bank had in the past acquired Bank of Punjab and Lord Krishna Bank. HDFC bank had earlier acquired times bank. (PTI)

Terror arrests shock people of Mithila belt

PATNA, Feb 25: The arrest of Mohammed Sabbauddin in connection with the recent blast at CRPF camp at Rampur village in neighbouring Uttar Pradesh has shocked people of the Mithila belt on the porous Indo-Nepal border where terrorist activity is unheard of.

Sabbauddin’s arrest, which also stunned his family members, and establisment of link of some other youths to underworld Don Dawood Ibrahim, the Rampur blast and the Mumbai train blast have also alerted the security set-up in the Mithila belt.

Sabbauddin, who was arrested from Lucknow a few days after the incident, is alleged to be a member of the dreaded terrorists’ organisation - Laskar-e-Toiba - official reports said.

Deputy Inspector-General of Police (Mithilanchal range), Darbhanga, Vinay Kumar, however, said that the arrest of some youths could not be taken as a proof of the entire belt’s slide to terrorism.

"In fact, our investigations suggest that there are some instances of a couple of youths, who ventured out of the area for livelhood or studies, were trapped and forced by terrorists to engage in unlawful activity and anti-national acts," he said.

Inquiry revealed that Sabbauddin, who was arrested in connection with the Rampur CRPF camp blast, hailed from a ordinary family as his father Shabbid Ahmed, a resident of Sakri Police Station in Madhubani district, was a Panchayat representative and all other family members were well educated, the DIG said.

"Investigations have revealed that Shabbir’s is a respected family which has never been engaged in any social evil and we are surprised by his link with terrorist organisation," the DIG said.

Earlier, one Mohammed Kalam of village Basopatti in Madhubani district was arrested in connection with Mumbai train blast case.

There was nothing found on records about Kalam’s criminal antecedents in Bihar, official sources said.

Kalam, a sober and decent youth, left home searching for job outside the state, but he was lured by terrorists into doing unlawful acts, they said.

Alleged connections of Fazlur Rehman, who hails from village Baghauli under Jale Police Station in Darbhanga district, with underworld Don Dawood Ibrahim has also brought disrepute to the Mithilanchal belt.

Rehman, who was arrested from Uttar Pradesh, is now lodged in judicial custody in a jail at Darbhanga, the sources said.

Another youth from Darbhanga Jama Khan, who is believed to be closely associated with the Dawood Ibrahim gang, fell prey to internecine conflicts within the gang in Nepal a few months ago, the police revealed. (PTI)

Strike of public sector banks called off

NEW DELHI, Feb 25: The two-day strike of the public sector banks through out the country has been called off following an agreement between the banks and unions to discuss their demands.

Chairman of the Indian Banks Association (IBA) M B N Rao said from Bangalore that the IBA and united forum for bank unions have agreed to hold discussions on the union demands.

Rao said a formal agreement to hold discussion between the two sides would be signed today. Rao said pending discussions, the unions agreed not to carry out their strike today and tomorrow.

Rao said detailed schedule for talks would be drawn on March 3.

Union sources said an MoU is likely to be signed between Indian Banks Association (IBA) and the United Forum of Bank Unions, which had called for the strike, later today in Mumbai on various demands of employees, union sources said.

The unions are demanding early settlement of wage revision, second option for employees to go for pension scheme and compassionate appointment, among other things.

They are also protesting against merger between PSU banks.

Earlier, a conciliatory meeting called by Chief Labour Commissioner S K Mukopadhyay on Friday and another by the IBA on Saturday had failed. (PTI)

 



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