NEW DELHI, Jan 15: Mentha oil prices rose 0.19 per cent to Rs 853 per kg in futures trading today as speculators enlarged their positions, driven by rising domestic as well as export demand.
Besides, restricted arrivals from Chandausi in Uttar Pradesh also influenced the mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in February gained Rs 1.60, or 0.19 per cent, to Rs 853 per kg in business turnover of 31 lots.
Likewise, the oil for delivery in January edged up by Rs 1.40, or 0.17 per cent, to Rs 841.50 per kg in 170 lots.
Analysts said the rise in mentha oil prices at futures trade was mostly attributed rising domestic and export demand against tight supplies in the spot markets triggering speculators to enlarge positions. (AGENCIES)
Mentha oil futures gain 0.19% rising demand
Cardamom futures weaken 0.18% on low demand
NEW DELHI, Jan 15: Cardamom prices drifted 0.18 per cent to Rs 725 per kg in futures market today as speculators lightened positions amid sluggish demand in the spot market.
At the Multi Commodity Exchange, cardamom for delivery in January declined by Rs 1.30, or 0.18 per cent, to Rs 725 per kg in business turnover of 18 lots.
Similarly, the spice for delivery in February shed 80 paise, or 0.11 per cent, to Rs 711.30 per kg in 71 lots.
Market analysts said offloading of positions by speculators triggered by subdued demand in the spot market against adequate stocks position mainly led to decline in cardamom prices at futures trade. (AGENCIES)
Crude palm oil futures rise 0.24% as demand picks up
NEW DELHI, Jan 15: Crude palm oil prices rose by 0.24 per cent to Rs 532.10 per 10 kg in futures trade today after speculators enlarged positions triggered by rising demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in January rose by Rs 1.30, or 0.24 per cent, to Rs 532.10 per 10 kg in business turnover of 201 lots.
Likewise, the oil for delivery in February traded higher by Re one, or 0.19 per cent, to Rs 537.50 per 10 kg in 95 lots.
Analysts said speculators indulged in creating fresh positions after pick up in demand in the spot market mainly helped crude palm oil prices to trade higher at futures trade. (AGENCIES)
Gold futures fall 0.45% on global cues
NEW DELHI, Jan 15: Gold prices fell by 0.45 per cent to Rs 28,966 per ten grams in futures trade today as speculators indulged in trimming positions in tandem with a weak global trend.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 130, or 0.45 per cent to Rs 28,966 per ten grams in business turnover of 1,274 lots.
Similarly, the metal for delivery in far-month April contracts lost Rs 99, or 0.35 per cent, to Rs 28,373 per ten grams in 128 lots.
Analysts attributed the fall in gold futures to speculators trimmed positions in tandem with a weak global trend amid speculation that the US Federal Reserve will continue reducing asset purchases.
Meanwhile, gold fell 0.5 per cent to USD 1,239 an ounce in Singapore in early trade today. (AGENCIES)
SC agrees to hear plea of law intern
NEW DELHI, Jan 15: The Supreme Court today agreed to hear a petition filed by a former law intern, who has made allegations against Justice Swatanter Kumar, to constitute a permanent mechanism to deal with sexual harassment cases at work place in judicial bodies. A bench three-judge bench headed by Chief Justice P Sathasivam, however, made it clear that at this moment it was not expressing any opinion on the allegations made by the intern against Justice Kumar and issued notice to the Centre. The bench also issued notice to Justice (retd) Swatanter Kumar, Chairperson of National Green Tribunal, and Secretary General of the Supreme Court, who were made parties by the intern in the petition. The bench also appointed senior advocates Fali S Nariman and K K Venugopal as amicus curiae in the case and directed Attorney General G E Vahavati to assist it in the matter. At the outset of the hearing, Justice Sathasivam raised question on why the intern came out so late regarding alleged harassment and expressed apprehension that complaint can be filed against a judge 20 years after his retirement. “Why she waited so long. Our apprehension is that even after 20 years when the judge reaches the age of 90 years, complaint can be filed,” the bench observed. Senior advocate Harish Salve, appearing for the intern, submitted that once a mechanism is set up to deal with such cases, then people will come within reasonable time to file the complaint. He submitted that the court can fix the time frame within which a person can approach with complaints. (PTI)
No immediate review of Guv opinion on Chavan: CBI
NEW DELHI, Jan 15:
CBI has decided not to seek a review as of now of Maharashtra Governor K Sankarnarayanan’s opinion declining permission to it to prosecute former Chief Minister Ashok Chavan in the Adarsh Housing Society scam case.
Sources said that according to legal opinion received by the agency, it can, however, seek a review of the Governor’s rejection of sanction for prosecution if it manages to bring out new evidence or legal infirmity in the order.
They said since all the gathered evidence indicating alleged involvement of Chavan had already been placed before the Governor, it will not be immediately filing for the review of the Governor’s order.
However, they said, in case the agency, during its probe, manages to find some new material which further boosts the case against the former Chief Minister, it would not hesitate to seek a review of the Governor’s opinion.
The sources said the developments will soon be shared with the competent court in Mumbai.
Chavan, who resigned as Chief Minister of Maharashtra after the scam surfaced, was among 12 persons charge sheeted by CBI in connection with the case.
The former Chief Minister had challenged inclusion of his name in the charge sheet, saying no sanction for prosecution was taken from the Governor whereas CBI countered it by saying since he was a former minister at the time of being charge sheeted and there was no need for sanction. More
The court, however, directed the agency to get the sanction for prosecution.
Later, CBI approached the Maharashtra Governor seeking the sanction which was rejected even though the agency had made a detailed submission for it.
CBI had said in its charge sheet that Chavan had increased the floor space index of Adarsh Housing Society in Mumbai in return for two flats to his relatives.
Chavan’s mother-in-law Bhagvati Sharma, sister-in-law Seema Sharma and father-in-law’s brother Madanlal Sharma have flats in the society.
Chavan also asked the Society to take 40 per cent members from civilian category when it was originally meant only for war veterans, CBI has alleged, adding Chavan played a key role in the scam. (PTI)
IOC seeks refund of HPL earnest bid money
KOLKATA, Jan 15: Indian Oil Corporation (IOC), the sole bidder for stake in Haldia Petrochemicals Ltd (HPL), has sought the release of their earnest bid money, indicating withdrawal from the sale process.
“We have written a letter asking for the earnest money of around Rs 20 crore submitted for the bid,” an IOC official told reporters.
IOC was the sole valid bidder and the West Bengal government had accepted its bid in October 2013.
“The IOC board had given a conditional nod that the company could participate in the HPL sale process only with management control,” the official said.
IOC is of the view that the recent developments on the leagal front between the State Government and another promoter The Chatterjee Group (TCG) will delay a final order on the 155 million shares in question, he said.
HPL management’s control will go to the promoter who gets access to the 155 million shares block. TCG has got right to contest its claim on those 155 million shares at the international court of arbitration.
West Bengal Industrial Development Corporation officials didn’t deny the development, but declined to comment.
The State Government had sought a bid for its entire stake, which is close to 40 per cent, and hoped to get legal clearances for the 155 million shares in question to offload.
IOC currently has 8.89 per cent stake in HPL, with the Tata group and financial institutions being the other minority shareholders. (AGENCIES)
Ganguly bats for Shukla India comeback
Kolkata, Jan 15: Urging Bengal skipper Laxmi Ratan Shukla not to lose hope for a India comeback, Sourav Ganguly today said the national selectors would surely be noticing the allrounder’s sparkling show if they make the Ranji final.
“If Bengal make the final, Shukla’s performance will be counted by the national selectors, (Ashoke) Dinda will also make a strong case for himself for a comeback,” Ganguly said of Shukla who played three ODIs way back in 1999.
Despite having got the Lala Amarnath award for the best all-rounder in domestic limited overs by the Board, the 32-year-old is still being overlooked as Stuart Binny was chosen for the allrounder spot in India’s five ODIs in New Zealand.
Defending the decision, Ganguly said the selectors had considered the burly allrounder’s IPL show for the Rajasthan Royals and rued that Bengal had little representation in the T20 extravaganza which is taken as a yardstick.
“He (Binny) had been a stand out performer for the Rajasthan Royals and in their qualification into the (IPL 6) final. He has also been retained by Rajasthan Royals.
“But if you look at Bengal, our boys are not even get a chance to play in IPL regularly…
“On form, Shami is the best Indian pacer at the moment, but it’s unfortunate that he’s not retained by the state franchise (KKR).
“These are the things national selectors take into account. Selectors are bound to give importance to a big tournament like IPL, that’s the way it is, that’s the system,” Ganguly pointed out.
Hailing Bengal for making the Ranji semifinal for the first time since 2006-07, Ganguly said: “They have all performed under from pressure, right from skipper Shukla, Dinda who is still being overlooked by the national selectors…
“All these players have stood under pressure. For four years, they have fought relegation. I’ve seen it very closely. I know how tough it is,” the left-hander told a Bengali news channel.
“On paper, Bengal have beaten stronger teams to make the semis than Maharashtra who have come from lower rung group C. But any team at this stage is strong, they (Bengal) have to play all five days of good cricket to be in the final,” he said of Bengal who will face Maharashtra in Indore from January 18-22.
Ganguly further said India would do well in the five ODI and two-Test series in New Zealand, an “inferior” side to South Africa.
“They dont have (Dale) Steyn or (Morne) Morkel in their side. New Zealand are an inferior side in comparison to South Africa. If their coaches are intelligent enough, they would have out and out greentops.
“I’m very very hopeful of success against New Zealand. We’ve just come back from a tough tour of South Africa, losing both Test and ODI series. We have seen India doing well after a difficult tour. But I’m hopeful of Team India doing well in New Zealand.”
Ganguly, who has already got an honorary fellowship from University of Central Lancashire, will be conferred D.Litt by the Bengal Engineering and Science University, Shibpur.
“That I will be honoured in my home town makes it all the more special. It’s a big honour for me. I feel proud,” Ganguly concluded. (PTI)
BSP to go it alone in LS polls: Mayawati
LUCKNOW, Jan 15:
Kicking off her party’s election campaign at a mega rally here, Mayawati today said BSP would not forge an alliance with Congress, BJP or any other party and would go it alone in the Lok Sabha polls.
“BSP will fight the Lok Sabha elections across the country, alone,” she said, addressing ‘Savdhan Vishal Maharally’ here, coinciding with her birthday.
The BSP supremo asserted that her party would not form an alliance with any party in Uttar Pradesh or at the national level.
“We will not enter into an alliance with Congress, BJP or any other party in UP or at the national level. There have been reports in a section of media that BSP will enter into alliance with Congress. This is not true,” she said.
Mayawati also lashed out at Gujarat Chief Minister Narendra Modi for the Godhra riots.
“When the Chief Minister of a state having a population of six crore could not prevent Godhra riots between Hindus and Muslims, how can he generate unity among people from various castes and religions?
“Godhra incident jolted the country but in all his meetings, Modi make promises and talks about Gujarat pattern of development,” she said.
The BSP leader claimed that the reality was, however, different and cited a CAG report to highlight the condition of children and SC/STs in his home state.
“They (BJP) claim to end corruption but in Gujarat, the institution which keeps an eye on it, the Lokayukta, was set up only on the directive of the court and it is also very weak,” she said.
“He (Modi) is promising to curb inflation, corruption, unemployment and also bring blackmoney back into the country, but the saying ‘garajne vale badal bareste nahin’ (clouds that thunder don’t produce rain) appears appropriate in this case,” she said.
Mayawati also accused the then BJP Government of misusing CBI to pressurise her party in 2003 to forge an alliance at the national level.
“In those days, we had formed a coalition Government with BJP in Uttar Pradesh and there was an understanding that both parties will head the Government for six months each. BJP, which was also heading the NDA Government, thought that if they can force an early Lok Sabha election and win most seats in Uttar Pradesh, they can continue to rule 15 to 20 years,” she said.
The BSP supremo claimed that the national leadership of BJP had given her an offer that she can continue to rule Uttar Pradesh for the next five years on her own, but forge an alliance with the NDA for Lok Sabha polls and give it maximum seats.
“I had decided that I will not trade my movement with the communal forces even if I had to spend my entire life behind bars,” she said.
In an indirect attack on Congress, she said, “It is not just good policies but also the clear intention to implement them which is important.” Mayawati said unlike parties which make promises and offer allurements, her party believed in doing work at the ground level.
She said the poor, farmers and common man in the country were suffering due to the wrong policies of the Congress-led UPA Government at the Centre.
Hitting out at Samajwadi Party, Mayawati accused the SP Government of shutting down various welfare schemes started during her regime and claimed that the State had turned into “crime pradesh” under its rule.
The former UP chief minister also criticised BJP’s proposed move to set up ‘Statue of Unity’ in memory of Sardar Patel and said BJP’s ‘Run for Unity’ on his death anniversary recently was a “big drama” to woo the voters of his caste.
Slamming the party, Mayawati said, “BJP ruled the country for six years and has Government in several states.. Why have they not fulfilled all these promises there?”
“If Muslims vote en masse for BSP, it would weaken BJP and forces doing communal politics and it (BJP) would not be able to form Government easily at the Centre,” Maywati said.
Taking on Samajwadi Party, she said, “A number of welfare schemes started during my regime have been shut down by the current SP Government due to political malice.”
Corruption and communal tension were at a peak in Uttar Pradesh, she said, adding that “Under these circumstances, the Centre should have put the state under President’s Rule and established brotherhood and amity.”
Speaking at the rally at Ramabai Ambedkar maidan, the BSP supremo, who chose not to celebrate her birthday because of the Muzaffarnagar riots, said Uttar Pradesh has become “Crime Pradesh” under SP rule and people in Muzaffarnagar and Shamli were yet to recover from the riots.
Mayawati also warned the people of the designs of her opponents, who she said could project a Dalit as prime minister or chief minister for taking their votes.
“They can also make them (Dalits) as prime minister or chief minister but for a short time. The real power would be in the hands of the one having casteist mentality,” she said. (PTI)
Cabinet puts off Rail Tariff Authority proposal
NEW DELHI, Jan 15:
Union Cabinet today put off a proposal to constitute a Rail Tariff Authority (RTA) which is meant to advise the Railway Ministry on fares, an important reform measure for the cash-strapped public transport system.
Sources said the proposal could not be taken up as Railway Minister Mallikarjun Kharge was not present in the Cabinet meeting.
A close aide of Kharge said the Minister could not attend the meeting as he is out of town and will be reaching here this evening. The Cabinet meeting was to take place in the evening but it was rescheduled for the morning because of which he could not attend.
The RTA, seen to be a major reform proposal, is crucial for the cash-strapped railways as it will recommend fare revision from time to time taking into account input cost and volatile market condition.
The Cabinet is also expected to approve formation of a search committee for appointing RTA members and its chairman. Cabinet Secretary and Railway Board Chairman are members of the search committee.
However, the RTA’s recommendation will not be mandatory for railways as, according to existing law, only the Railway Board, and not any outside body, can fix the tariff.
RTA will be given mandatory powers only after the amendment of the Railway Act, 1989, in Parliament which is unlikely to happen in the UPA-II regime whose term comes to an end in a few months. The next Government will initiate the process of making RTA a mandatory body by amending the Railway Act, 1989 to insert a sub-section called Chapter 5 (A). (PTI)