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Sunday,
December 23, 2001, Chandigarh, India  
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100 cr for Punjab credit coops
Agri export zone in Patiala soon
AirTel replaces Spice in
Kolkata |
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Apportionment
Airports security not satisfactory
UTI offloads shares
of Thomas Cook
Another Star game show from Dec 25
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100 cr for Punjab credit coops Chandigarh, December 22 The sharing of this package between the Centre and the states will be in 60:40 ratio. The recommendations are an improvement on the Jagdish Capoor report. The primary aim being to restructure, countrywide, the cooperative credit banks as well as the primary agricultural credit societies making them viable. According to the Registrar, Cooperative Societies, Mr Suresh Kumar, the accumulated losses of the Punjab Central Cooperative Bank and its 19 branches are to the tune of Rs 38.12 crore, as on March 31, 2001. The losses in respect of the primary agricultural credit societies are about Rs 65 crore. Punjab, going by the committee’s recommendations, will get about Rs 100 crore to wipe out these losses. The scheme will become operative from April 1, 2002. In fact the credit cooperatives have got this reprieve following representations by national organisations demanding that the state cooperative banks and primary agricultural credit societies could be enabled to become operationally viable on the same pattern as commercial banks were helped by the RBI that pumped in Rs 18,400 crore to enable these banks to clear their balance sheets or liquidated. Asked about the consequences of this measure, according to the Patil report recommendations, Mr Suresh Kumar said once the losses were liquidated, the viable or potentially viable banks and societies would survive, while the rest would get merged. A perusal of the joint committee report reveals that cooperatives account for an almost 44 per cent share in the rural credit flow for agriculture and 31 per cent in rural deposits in the country. The small farmers constitute 42 per cent of their total membership.
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Agri export zone in Patiala soon Chandigarh, December 22 The export promotion zone which will be set up in Patiala district with satellite centres in Jalandhar, Ludhiana, Bathinda and Muktsar is likely to involve an investment of Rs 10.43 crore crore in the first stage. “The zone will be set up before the end of this month and will start by next month”, stated a Markfed press release. The agri export promotion zone has been sanctioned by the Steering Committee of the Centre. Markfed and private promoters will spend Rs 2.15 crore, the remaining amount will come from agencies of the Central Government or APEDA as an aid or grant. The scheme envisages export of potato seeds to Sri Lanka, Bangladesh, Nepal, Bhutan besides tableware potatoes to Mauritius, Maldives, Dubai and Sri Lanka. The zone will have infrastructural facilities like grading, packaging and transport facilities, including reefer vans. It will also help developing backward linkage and promote contract farming.
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AirTel replaces Spice in Kolkata
Kolkata, December 22 The Chairman of Bharti Televentures, Sunil Mittal, said AirTel would attempt to provide world-class mobile service to customers. Bharti Mobitel had acquired the Spice brand from Spice Cell in an all cash deal. With this launch, the AirTel brand will be available in six Indian cities, Delhi topping the list in terms of market leadership, company officials said. Bharti has also installed a new switch with a capacity of 2.5 lakh connections, which would reduce network congestion. Since the acquisition of Spice, the company had invested more than Rs 50 crore, Mittal said, adding that Bharti had more investments lined up. AirTel would compete with other cellular service providers in the city, Command and BSNL. Mittal said Bharti planned to command 90 per cent of the country’s cellular revenue.
PTI
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by Praful R. Desai
Apportionment Q: In view that hardship caused to the dependent unmarried sister. Whether apportionment of compensation made between wife and unmarried sister of deceased employee justified? Ans: This issue was settled by Madras
H.C. in Chandra v Commr. for Workmens’ Compensation II, Madras [2001-II-LL-1306] as under. The compensation of Rs 58, 152 was determined as payable to the dependents of the deceased employee. Question involved in this writ petition is as to the justification of apportionment made by the Commissioner in respect of the compensation awarded to the various dependents namely, the widowed wife, mother, unmarried sister and minor brothers of the deceased. The H.C. said that though no fault can be found with the apportionment made in respect of the younger brothers of the deceased and also the mother of the deceased, it felt that the apportionment made in respect of the unmarried sister of the deceased could have been made little more having regard to the fact that she is yet to get married, while the widow of the deceased did not have any issue through her late husband. While considering the plight of the dependent sister who is yet to get married, the H.C. was of the view that the hardship would have been much more for the dependent sister. In that view, the H.C. took the view that the apportionment made in favour of the minor sister can be increased from Rs 5,000 to Rs 17,000 while reducing the compensation apportioned in favour of the second respondent from Rs 42,000 to Rs 30,000. Accordingly, while modifying the order impugned in the present writ petition, by reducing the apportionment made in favour of the second respondent-widowed wife of the deceased from Rs 42,000 to Rs 30,000 there shall be an increase in the compensation awarded in favour of the second petitioner-unmarried sister of the deceased from Rs 5,000 to Rs 17,000. The H.C. ordered the first respondent to make out the consequential benefits payable to the petitioner and second respondent on that basis. Accordingly, the present writ petition was allowed on the aforesaid terms. |
cr
Airports security not satisfactory Boeing and Airbus Industries are currently engaged in strengthening the air transportation system. Boeing, for example, has already proposed several new security measures. Three among them are: strengthening flight-deck doors, better position-tracking transponders and video surveillance system. The proposal details price, offer ability and availability of engineering design and kit parts for the enhancement. Boeing, which has collaborated with C and D Aerospace, is optimistic that the security measures will be sufficient to combat any attack on board the flight. The additional measures, according to Boeing, will be provided by April 2003. Aviation experts opine that the security measures in aircraft are essential. But what is need of the hour is that the ground security measures should be fool proof. Despite terrorist attacks in New York and recently and on Parliament on December 13, the security measures at most of the airports are far from satisfactory. The Indira Gandhi International Airport (IGIA) continues to have weak zones. The IGIA and other international airports are, for example, manned by several security agencies. The multiplicity of authority causes more problems. The experts hold the view that there must be one trouble-shooter to whom all agencies and units should be answerable. The accountability is the key to success. As it is , each one passes the buck to other when the emergency arrives or the situation goes out of control. The morale of the officials working at the IGIA has become so shaky that they recently mistook a snag in aircraft for hijack. The Alliance Air Boeing 737-200 aircraft, commandered by Capt B. Misra, lost contact with the ATC because of communication failure. For about an hour, there was total chaos at the airport until the flight landed and taxied to a secluded parking bay. Civil Aviation Minister Shahnawaz Hussain has envisaged several measures to steady Air India and Indian Airlines. Several off-line offices of AI have been closed and some downgraded to reduce overhead expenses. Plans for fleet expansion have been approved by the authorities concerned.
Jet Airways Jet Airways has introduced same day return facility on Chennai-Madurai sector. Two flights ATR 72-500, one in morning and another in the evening, are in operation. The airline now operates to 44 destinations with 255 flights daily. |
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UTI offloads shares of Thomas Cook New Delhi, December 22 The shares have been offloaded to the two acquirers against an open offer made by them. The transfer amounts to 2.15 per cent of the company’s paid-up equity capital. Meanwhile, the UTI has declared an interim income distribution of 10 per cent under UTI G-Sec Fund and 3.25 per cent under CRTS 81.
ITC Bhadrachalam gets merger nod The merger plan of ITC Bhadrachalam Paperboards with parent company, ITC Limited, has been overwhelmingly approved by shareholders at a court convened Extraordinary General Meeting (EGM). At least 98 per cent of the ITC Bhadrachalam shareholders gave the merger plan the green signal at the Andhra Pradesh High Court convened EGM in Secundrabad on December 14, according to a statement issued by the ITC Limited here today. The meeting held under the Chairmanship of Justice S. Dasaratharama Reddi (retd) recorded more than 6.90 crore votes in favour of the merger resolution and only a little over 16 lakh against. The merger has already been approved by the ITC shareholders at a court-conducted EGM here on December 7.
BPL debenture scheme downgraded Crisil has downgraded the ratings assigned to BPL Limited’s various outstanding non-convertible debenture programmes as the company has not been able to bring about the anticipated correction in its financial risk profile within the envisaged time frame. The rating for Rs 1,000 million non-convertible debenture issue has been downgraded to “A-” from “A+” while that assigned to the Rs 1,000 million commercial paper programme to “P2” from “P1”, Crisil said in a release. Agencies |
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Another Star game show from Dec 25 Mumbai, December 22 The show, to be telecast every
Tuesday at 9 p.m., involves a group of strangers, who have to work together as a team to win prize money up to Rs 25 lakh, a press release here stated yesterday. However, only one person wins the money while the others leave with nothing, as round by round they are voted off as the weakest link by the team members. :Kamzor Kadii Kaun’’ is based on the hit BBC game-show “The Weakest Link’’. Directed by Sidhartha Basu the show will follow the original UK format, including set design, graphics, music and overall look. Television actress and producer Neena Gupta will host the show.
UNI
Plant-based cream launched CHENNAI: The city-based Vale Exports, specialising in herbal-based cosmetics, has launched a plant-based fairness cream, “All Fair’ in a bid to capitalise the demand for skin care products, having an estimated Rs 650 crore market in the country. About 40 per cent of this demand comes from South India. Launching the product last night, Ashok Kumar, CMD of Vale Exports, said All Fair had been developed with technical collaboration from the Swiss firm Milbelle AG Cosmetics, the largest cosmetic manufacturer in Switzerland.
UNI
Microsoft, Korea Telecom tie up SEOUL: Microsoft Corp and Korea Telecom Corp (KT) announced today the formation of a strategic alliance to provide up-to-date integrated web services in South Korea. The alliance, which includes a $ 500 million investment in Korea Telecom by Microsoft, will enable and accelerate the delivery of a rich variety of web services to the South Korean market, the two companies said. The venture will allow “KT,
Microsoft and an array of partners to deliver dynamic solutions and services to this globally connected community,” Bill Gates said.
AFP
IIT scientists developing airship MUMBAI:
Scientists of the IIT at Powai here are working in conjunction with the Bangalore-based Aeronautical Development Agency (ADA) to develop a Helium-based “Flying Ship” similar to the Zeppelin airship. An exhibit on this “Airship” project will be on display at the Techfest, 2002, IIT Powai’s fifth annual technology extravaganza which is the biggest of its kind in Asia. The exhibition has been scheduled between
February 1-3. The “Flying Ship” concept has never been used in India and will be used for transportation and other purposes in regions where conventional means are not available, IIT sources said here.
UNI |
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Golden Forests Ministries merged IDBI bond Forex reserves Udyog award |
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