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News:
Sena-BJP rift widens
SC refuses to allow all three Hindujas to go abroad
Cabinet approves Rs.34,200 crore scheme for rural roads
Plea against noise pollution
India presenting distorted picture of Agra Summit: Pak
No plan to join NDA, says Pawar
Tribunal's verdict: Worli-Bandra link is unviable
MSRDC at sea over sea link project - TNN
Subramanyam, Kapur, Basu, Mehta get bail, Johari gets JC
Sinha dismisses downgrading of India of S&P
US grants 540 mn USD preferential trade access to India
Broker Hiten Dalal surrenders, taken into custody
BSE:Equities move narrowly at early stages
India go down again in Azlan Shah Cup Hockey
Indians lose to Croatia in Chess
Vandort props up Sri Lankan Board XI
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Sensex: 3302.32, -17.35
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Sena-BJP rift widens
Mumbai,Wednesday, August 08, 2001: The ongoing tussle between Shiv Sena and BJP - allies for over one-and-half decades - seems far from over with the former lamenting that those forseeing Sharad Pawar as a partner would never understand the real value of its friendship.
"If Sharad Pawar, who played a crucial role in the fall of Vajpayee government by a solitary vote, is seen by some as an ally in the future, how can they be expected to gauge the worth of the Sena's true friendship", an editorial in 'Saamna', the Sena's mouthpiece said today.
Without referring to BJP, the editorial said that everybody in Maharashtra knows who has benefitted by aligning with the Sena. "The Sena believes in friendship, but if someone is in search of opportunities to humiliate it, then it can also unmask the opportunist", the editorial warned.
"The Sena's growth as a party has nothing to do with its participation in power at the centre or state and those who feel otherwise must be living in a fool's paradise", it said.
The rift between the Shiv Sena and BJP widened yesterday with each daring the other to break off ties and Sena supremo Bal Thackeray asking the BJP to stay within their limits.
The verbal duel between the two allies intensified despite an unqualified apology by Sena MP Sanjay Nirupam, who had created a storm by attacking PM's Office on the UTI muddle, to Prime Minister Atal Bihari Vajpayee for hurting his (Vajpayee's) sentiments.
The Sena supremo had yesterday made it clear that the BJP was free to break the alliance if it wanted.
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SC refuses to allow all three Hindujas to go abroad
New Delhi,Wednesday, August 08, 2001: Refusing permission to the three Hinduja brothers, accused in Bofors payoff case, to go abroad at the same time, the Supreme Court today allowed Prakashchand to go out of the country and asked the other two brothers to decide as to who would stay back.
A Bench comprising Justice M B Shah and Justice R P Sethi allowed Swiss national Prakashchand to go abroad on the same terms and conditions on which Srichand and Gopichand were earlier allowed to go out of India by an order of the Court after he said on oath that if any extradition proceeding was instituted against him in his country he would not oppose it.
The Bench asked the Swiss national to execute a personal bond of Rs 15 crore, be present before the trial court as and when required and barred his counsel from taking adjournments of the trial proceedings on the ground of his absence.
The Bench asked either of the two brothers to make an appropriate application before trial court regarding the one who was staying back in India even as S P Hinduja volunteered to stay.
Meanwhile, the Court, which had allowed Srichand and Gopichand to go abroad till August 20 by the May 12 order, extended the operation of the interim order till October one.
In view of the repeated submissions of the Hindujas' counsel Kapil Sibal that the trial would linger on for years together, the Bench asked the trial court to submit a report by August 30 detailing among other things the time needed for the conclusion of trial in the Rs 64 crore Bofors payoff case.
The petitions by the three Hinduja brothers seeking permanent permission to go abroad would come up for hearing on August 30.
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Cabinet approves Rs.34,200 crore scheme for rural roads
New Delhi,Wednesday, August 08, 2001: In a bid to boost rural road connectivity, the government has given the green signal for the Rs.34,200 crore Pradhan Mantri Gram Sadak Yojna (PMGSY).
The 100 per cent centrally sponsored scheme was approved by the Union Cabinet last night, Parliamentary Affairs Minister Pramod Mahajan told reporters today.
Mahajan said that in a significant departure from the ususal practice, the scheme, launched in December last year, will not require approval by the full Planning Commission.
Under the programme, 1.40 lakh habitations would be connected by all-weather roads by 2007, he said.
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Plea against noise pollution
The city's first writ petition filed by an individual on sound pollution was admitted by the Bombay high court on Monday. Other appeals filed by different action groups are pending with the court.
The current petition seeks the court's directions to the police to enforce laws against the noise nuisance, especially during religious festivals. The court has considered expedious hearing in the matter.
The case filed by 67-year-old H.S. D'Lima, who is campaigning against the abnormally high sound levels and the misuse of public space during festivals, has been admitted by a division bench comprising Justice Vishnu Sahai and Justice P.D. Upasini.
The petition cites the alleged misuse of loudspeakers, cymbals and drums during Muharram in Andheri, Gaothan Lane number 1. The organisers of the festival, the Gulzar Niyaz Committee, are one of the respondents in the case.
In his affivadit, the police commissioner, the sole regulating authority under the new noise pollution control Act, admits that the police do not have ``the necessary equipment and expertise'' to measure noise levels.
The case could set off judicial activism on the issue in the city. In Calcutta, judicial initiative has perceptively curbed the menace in the ground level, and has forced the police to diligently implement the laws.
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India presenting distorted picture of Agra Summit: Pak
Islamabad,Wednesday, August 08, 2001: Hours after Prime Minister Atal Bihari Vajpayee blamed President Pervez Musharraf for the breakdown of the Agra summit, Pakistan Tuesday night charged India with presenting a distorted picture of the talks and said this could ruin chances for future engagements between the two countries.
"A number of statements have emanated from India, including at the highest level, that present a distorted picture of the negotiations held at Agra and contain remarks which are in poor taste," a terse foreign office statement said.
"Pakistan believes that misrepresentations and gratuitous observations could neither alter facts nor serve to promote the cause of normalisation of relations between Pakistan and India," it said.
"Pakistan, therefore, urges India not to vitiate the atmosphere for engagement between the two countries," it said.
Replying to a debate on the Agra summit in Lok Sabha Vajpayee said during the talks Musharraf insisted on having a one-point agenda of Kashmir and refused to incorporate references to terrorism and Simla and Lahore agreements in the joint draft document.
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No plan to join NDA, says Pawar
Nationalist Congress Party president Sharad Pawar has vehemently denied that he had any plans to join hands with either the Shiv Sena or the Bharatiya Janata Party (BJP).
Pawar, who is on a tour of the Marathwada region, announced in Aurangabad that there was no plan either to join the National Democratic Alliance in New Delhi or the Shiv Sena-BJP alliance in Maharashtra.
He also ruled out any threat to the NCP legislature party. Referring to the possibility of a few NCP MLAs resigning, he said that all those who wanted to leave could quit the party. However, he added that as far as he knew no one wanted to do so.
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Tribunal's verdict: Worli-Bandra link is unviable
The Indian People's Tribunal's verdict on the Worli-Bandra sea link is out. And it's a thumbs down.
In its inquiry report on the sea link project which was released at a public meeting on Friday, the tribunal unequivocally condemned the project on several counts, including violation of environmental laws and creating a negative social and environmental impact. Concluding that the project was unviable, unnecessary and detrimental to the city's future, it recommended that the project be stopped until reviewed by an independent body of experts.
Comprising environmentalist Darryl D'Monte, retired Justice R.A. Jahagirdar and former state planning board member H.M. Desarda, the panel was set up by the IPT after being called upon by the Shivaji Park Dakshata Samiti earlier this year to look into the project. The 500-km-long sea link will cost Rs 715 crore and is intended to ease the flow of traffic to south Mumbai.
The tribunal's conclusions were based on several findings on the legality of the project, its impact on the environment and the desirability of the project, which it assessed after public hearings and undertaking site visits.
In its report, the panel concluded that the project was illegal on several counts. Since there was no public hearing on the project, the environmental impact assessment, which is necessary for clearance, remained incomplete. The panel also pointed out that the local fisherfolk were not consulted, another condition for the clearance, and that there was excessive, illegal reclamation. It also pointed out that the feasibility studies were outdated and based on alignments which had been changed after the clearance was given.
Besides, after extensive documentation of responses from scientists and citizens of the Dadar-Shivaji Park, Mahim and Bandra fishing villages, the tribunal concluded that the project could prove detrimental to the environment, causing erosion at Versova and Dadar. ``Mangroves, which are vital for breeding fish and cleaning the Mithi river, have also been considerably reduced,'' activist Girish Raut said at the public meeting. The report also pointed out that the project had had a severe impact on the fisherfolk of the area, reducing ``a self-sufficient community to destitution and insolvency''.
Most importantly, the tribunal questioned the desirability of the sea link for the city. ``Considering that the sea link will transport only the motorised public, which constitutes nine to ten per cent of the total commuters, the whole concept of spending on road projects to augment the city's transport must be questioned,'' said Mr D'Monte.
The panel also highlighted the possibility of reclamation in the bay blocking the Mithi river, saying it would lead to stagnation in the channel which acted as a drainage system for the city. Combined with scientists' fears of increased flooding, the panel suggested that it could indirectly lead to increased epidemics in the city.
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MSRDC at sea over sea link project - TNN
It seems the Maharashtra State Road Development Corporation (MSRDC) is unable to make up its mind. Despite the Centre's assurance to grant environmental clearance for the Worli-Nariman Point sea link, the MSRDC has not decided on alternative proposals like the tunnel under Malabar Hill or the Wilson College-Haji Ali flyover.
The Worli-Nariman Point sea link is part of the Western Island Freeway (WIF) which will connect Bandra to Nariman Point. The original plan for WIF included a tunnel under Malabar Hill, for which the Brihanmumbai municipal corporation (BMC) began acquiring land as far back as 1979. According to municipal councillor Subhash Mayekar, the BMC has spent over Rs 5 crore in acquiring land to build a tunnel in the area.
However, the sea link proposal which the MSRDC has sent for clearance to the environment ministry does not include the tunnel under Malabar Hill. The MSRDC executive summary on WIF states, ``In the place of the Malabar Hill tunnel, the alignment of freeway will outskirt Raj Bhavan and be connected directly to Nariman Point.'' When asked if the proposal to build the tunnel had been dropped, MSRDC vice-chairperson and managing director Ajit Nimbalkar said it was an alternate alignment which was still open to consideration.
The original WIF proposal included three stretches: A 2,850-m stretch between Nariman Point and Mafatlal Bath on Marine Drive; a 635-m tunnel through Malabar Hill starting under Kamala Nehru park and ending at Priyadarshini Park; and a 3,100-m road along the road up to Haji Ali. In fact, civic sources said the land on which Priyadarshini Park stood had been reclaimed for WIF.
Doubts have been raised about the MSRDC's ability to raise Rs 1,200 crore for the sea link project. The tunnel is a cheaper alternative. A civic official stated that the MSRDC had been unable to decide if it should go ahead with the tunnel plan in case it is not able to raise the necessary amount for the sea link project. ``Also, now if the MSRDC drops the tunnel proposal, the BMC can claim compensation for the money spent on land acquisition,'' he informed.
Similarly, the MSRDC is yet to decide on the fate of the proposed Haji Ali-Wilson College flyover via Pedder Road. The flyover was proposed as an intermediate solution for the traffic problem ensuing due to the considerable time lag between the completion of the two phases of WIF. The Bandra-Worli sea link, which comprises phase I of WIF, is already underway and is expected to be ready by 2003, while the phase II between Worli and Nariman Point is awaiting environmental clearance.
However, with the Centre's recent announcement that it would grant clearance to the Worli-Nariman Point sea link, observers see no logic in spending over Rs 150 crore in building the Haji Ali-Wilson College flyover.
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Subramanyam, Kapur, Basu, Mehta get bail, Johari gets JC
Mumbai,Wednesday, August 08, 2001: Former Chairman of Unit Trust of India (UTI) P S Subramanyam, suspended Executive Directors M M Kapur and S K Basu and stock broker Rakesh Mehta, charged with misappropriating public funds to the tune of Rs 32.08 crore, were Tuesday released on conditional bail by a special court.
However, the court turned down the bail plea of promotor of M/S Cyberspace Infosys Ltd, Arvind Johari, on the ground that he was the main beneficiary in the scam and was required in another case in Lucknow. He was remanded to judicial custody till August 14.
Perusing case diaries and remand application, special judge S R Mehra opined that documents concerning the scam had already been seized and custodial interrogation of the accused was not required as they were in CBI custody since July 21.
Subramanyam, Kapur and Basu were released on bail in the sum of Rs 1.5 lakh each while Mehta was enlarged in the sum of Rs three lakh.
The judge directed the accused to cooperate with CBI and and attend its office from Monday to Friday between 12 noon and 4 p.m from tomorrow till September 15.
The accused have been further directed not to leave India or the jurisdiction of the court without permission.
All the accused have been restrained from visiting offices of UTI, SBI Capital Market, LIC, GIC and BSE till September 15.
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Sinha dismisses downgrading of India of S&P
New Delhi,Wednesday, August 08, 2001: Finance Minister Yashwant Sinha today dismissed the downgrading of India's sovereign credit rating by Standard and Poor's saying the stability of the markets has proved the global credit rating agency wrong.
"The stability in the market is the biggest commentary, much more than what words could express," Sinha said, adding all the parameters were stable, all projections of crumbling rupee and bond markets have not happened.
S&P on Tuesday lowered India's sovereign credit rating outlook for local and foreign currency to negative from stable.
Sinha also contested S&P assumptions in downgrading the ratings for India saying the issues raised by the rating agency was not valid and criticised the haste with which it had come to conclusions on India.
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US grants 540 mn USD preferential trade access to India
New Delhi,Wednesday, August 08, 2001: In a significant move, United States today announced a grant of 540 million US dollar of preferential trade access to India under its Generalised System Provisions (GSP).
"We have decided to grant about 540 million US dollar of preferential trade access under the GSP provisions...and we hope that the reduction in tariffs under these provisions would be able to go into effect by the end of the month," US trade representative (USTR) Robert B Zoellick told reporters.
Zoellick, who had an hour-long meeting with the Commerce and Industry Minister Murasoli Maran said these reductions would be notified in the Federal register, soon after his return to Washington next week.
The USTR, who is accompanied by five other senior officials said,"this gives us a tangible aspect of trying to improve important trading relationship...US is already India's biggest trading partner and US would like to add more to this".
The GSP, is a trade programme of the US government that grants duty free treatment to specified products that are imported from over 140 developing countries.
US had been denying GSP benefits on over 100 Indian products including agricultural, chemicals and pharmaceuticals India, on the other hand had been pressing for restoration of these benefits.
Commenting on the importance of India for the US he said, the two sides talked about trade relations - both bilaterally and globally and in the context of the WTO.
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Broker Hiten Dalal surrenders, taken into custody
Mumbai,Wednesday, August 08, 2001: Tainted stock broker Hiten Dalal, whose conviction in Rs 78 crore Standard Chartered bank fraud case was recently upheld by the Supreme Court, today surrendered before a special court here after it refused to give him more time to do so and was taken into custody immediately.
He is the first broker to undergo conviction in cases concerning the multi-crore scam which rocked all the stock exchanges in the country ten years ago. The Supreme Court had earlier upheld the one-year sentence imposed on Dalal by a special court.
Rejecting Dalal's plea for more time to surrender, Justice D K Trivedi ordered police to take him into custody but allowed the broker to remain in the court till 4.45 pm to attend another scam case in which he is facing trial.
On July 25, the court had granted him to surrender till today. Dalal appeared before the judge this morning and his counsel R D Ovelekar moved an application seeking more time to surrender on grounds that he was facing trial in other case.
The court was also informed that Dalal had filed a petition in the apex court seeking review of the earlier Supreme Court judgement which had upheld his conviction. Since the review petition was not notified, he may be allowed time to surrender, Dalal pleaded through his counsel.
Prosecutor Kiran Kapoor opposed Dalal's plea for more time to surrender on the ground that the court had taken a lenient view on last occasion by deferring his arrest by two weeks although there was no provision in CR.PC to do so.
The judge held that the court could seek production of Dalal in other scam cases whenever it was necessary and there was no need to defer his arrest.
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BSE:Equities move narrowly at early stages
Mumbai,Wednesday, August 08, 2001: Equities continued to move narrowly and the sensex remained trapped in about twenty-point range at early stages on the Bombay Stock Exchange (BSE) today on alternate bouts of buying and selling.
Resisting the negative news of the downgrade of India's long-term local currency sovereign credit rating to tripple +B+-minus the foreign currency long-term rating to +negative+ from +stable+, select key counters, however, attracted some fresh interest from Foreign Institutional Investors (FIIs).
Technology sector remained under consistent pressure due to a further drift in the Nasdaq Composite Index.
FIIs were the only buyers in the market with domestic mutual funds and financial institutions as well as stocks brokers keeping away from making any fresh investments in the capital markets.
The pay-order scam involving some big operators on the BSE and the financial crisis in the Unit Trust of India followed a string of negative developments besides the ban on badla have not only affected the volume but also forced several broking firms to close down their businesses in the past couple of weeks.
The BSE Sensitive Index opened fractionally down at 3317.51 and later fluctuated in a small range between 3321.18 and 3298.75 before being quoted at 3316.39 at 10.30 a.m. The sensex closed at 3319.67 Tuesday.
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India go down again in Azlan Shah Cup Hockey
Kuala Lumpur,Wednesday, August 08, 2001: India crashed to their third straight defeat, going down to Australia 2-3 in a league match of the Sultan Azlan Shah Hockey tournament here.
With just 30 seconds remaining, Australia on Tuesday scored the match-winner with a perfectly executed Troy Elder penalty corner.
Jamie Dwyer (16th), Matthew Smith (37th), Troy Elder (70th), scored for Australia while Deepak Thakur (13th) and Mukesh Kumar (64th) were the scorers for India.
India's woeful campaign in the prestigious tournament includes defeats to arch-rivals Pakistan (3-4) and Germay (0-2) besides a 2-2 draw with hosts Malaysia.
They have now just a solitary point with two more matches, against England and South Korea, still to go. They must win a match at least to remain in contention for the 5-6 positions in a seven-team field.
In terms of ball possession and chances, Indians had a stronger hand today but they gifted the match away to Australia in the last five seconds.
Both the teams started slowly with India trying to hold onto the ball a little longer to kill Australia's pace. They were successful to an extent but Australia were strong on the counter-attack.
Indians led the charge with Deepak Thakur breaking into the Aussie circle but before he could take a shot, the Aussie defence cleared the ball away.
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Indians lose to Croatia in Chess
Mumbai,Wednesday, August 08, 2001: Asian representative India lost their first round match to Croatia on the opening day of the Team World Cup Chess Championships for the visually impaired at Dusseldorf (Germany) Monday.
According to information received here Tuesday, the Indians, who are in Group A along with Romania, Russia, Croatia, Spain and Germany, salvaged half a point when their seasoned player Vasant Patil drew his match against Stjepan Jankovic after Swapnil Sha, Madan Bagayatkar and Shirish Patil lost their matches to Hinko Cajzler, Milutin Sakic and Vlatko Marendic respectively.
Group-B has Yugoslavia, Poland, Lithuania, Hungary, Slovenia and Ukraine.
The teams from each group will play on round robin league basis before the top three teams from each group make it to the next round where the teams will play on round robin basis to pick the first six positions.
The remaining six teams, who fail to make it to second phase, will play among themselves (league basis) and will fight for seven to 12th places.
Results (first round) Group-A: Romania (2.5) beat Germany (1.5), Russia (2.5) beat Spain (1.5), Croatia (3.5) beat India (0.5).
Group-B: Ukraine (3) beat Yugoslavia (1), Poland (3.5) beat Slovenia (.5), Lithuania (2) drew with Hungary (2).
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Vandort props up Sri Lankan Board XI
Colombo,Wednesday, August 08, 2001: Speedster Javagal Srinath struck early blows before left-handed opener Michael Vandort scored an unbeaten half-century, as the Sri Lankan Board XI reached 103 for 4 at lunch on the first day of a three-day match against India at the P Saravanamuttu stadium here today.
Wicket-keeper Sameer Dighe accounted for all the dismissals of the morning session, snapping up four catches, two off Srinath and one each off Venkatesh Prasad and Rahul Sanghvi.
Vandort was going strong at lunch on 51, while three other Test players - Avishka Gunawardene, Hashan Tillekaratne and Kumar Sangakkara - and youngster Chamara Silva failed to make use of the oppurtunity to impress the selectors.
Earlier, the Board XI skipper Thilan Samaraweera won the toss and elected to bat. India rested Rahul Dravid and Harbhajan Singh and left out Sairaj Bahatule. Captain Saurav Ganguly, who was also due to be rested, later decided to play.
The three-day fixture is the only practice match for the Indians in the longer version of the game before they move to Galle for the first Test on August 14. The second and third Tests are at Kandy and the SSC stadium, Colombo.
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Sensex: 3302.32, -17.35
The sensex closed at 3302.32, down 17.35
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1 U.S. $ = 47.12 INR
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Temperature: 81 F / 27 C
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Moon Rise : 09:59 PM (IST)
Moon Set : 09:26 AM (IST)
Tonight : Low: 73 F / 23 C Chance of a Thunderstorm
Thursday : High: 84 F / 29 C Chance of a Thunderstorm
Thursday Night : Low: 73 F / 23 C Thunderstorm
Friday : High: 84 F / 29 C Chance of a Thunderstorm
Friday Night : Low: 73 F / 23 C Thunderstorm
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