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[Grapevine] For 24 Aug, 2001



Title: The Mumbai Grapevine
The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
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Headlines
News:
Reduction of Army role in counter insurgency recommended
Bhujbal denies talks with Chhota Shakeel
RSS doubts Tehelka tapes genuineness
RSS opposed to ban on SIMI
Pallav Sheth surrenders before special court
300 trees face the axe at Haji Ali
Pakistan keen to cooperate with India in IT
Pakistan to lift ban on textile machinery, ban on sugar stays
Ketan Parekh gets conditional bail; asked to pay Rs 16 crore
Pakistan says "no objection" to Indo-Iran gas pipeline
BSE: Sensex moves in small range at early stages
India 55 for one at close
Tendulkar to leave for South Africa on Aug 26
Warne Tendul-corized!
Pulling out of ATC no indicator in policy shift: Uma Bharti


Markets:
Sensex: 3305.51, -3.28




Forex, Metals and Weather below

News
Reduction of Army role in counter insurgency recommended
New Delhi,Friday, August 24, 2001: Expressing serious concern over the ageing profile of the Armed forces, particularly fighting arms in Army and Air Force, a Parliamentary Committee today asked the Government to come up with drastic steps to make up the shortages which they said were growing year by year. Pulling up the government for exhibiting laxity in the matter, the Parliamentary Standing Committee on Defence has called for immediate action by making short service more attractive and re-examination of the feasibility of giving armed forces officers a running pay band on the lines of civil services.

"The situation is grim, particularly in the Army where shortage is to the extent of about one-third of sanctioned strength of officers. This is really a matter of serious concern in view of the fact that most vacancies are in the rank of Major, Captain and below," the Committee said in its latest report tabled in Parliament today.

As part of an action plan on war-footing, the Committee also recommended urgent measures such as gradual reduction of Army role in counter-insurgency, introduction of VRS for senior Armed forces ranks, review of cadre structure, lateral induction of the officiers in Para-military forces, Central Police Organisation and Defence related PSU's.

In a significant suggestion, the committee also asked the Government to review the step of giving command of a battalion to a full Colonel at the age of 42, when comparative age profile of battalion commanders in Pakistani and Chinese armies was 37 and 40 years respectively.


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Bhujbal denies talks with Chhota Shakeel
Maharashtra deputy chief minister Chhagan Bhujbal has categorically denied having had any conversation with gangster Chhota Shakeel. Responding to reports in a section of the press which alleged that he spoke for about 12 minutes with Shakeel over the phone, Mr Bhujbal said, "I have not spoken to Shakeel even for 12 seconds."

He also stated that he was never in touch with Shakeel, who is currently in Karachi, either directly or through anybody else. The reports had suggested that one Nina Sawant was interacting with Shakeel on Mr Bhujbal's behalf. A tape-recorded copy of the 12-minute telephone talk was alleged to be in the possession of intelligence agencies. According to the report, Shakeel had threatened to leak out the contents of his conversation if Mr Bhujbal did not transfer a few policemen who were demanding hafta from his associates.

Mr Bhujbal said he had not transferred any policeman under pressure from anybody. "It is the crime branch which deals with organised crime. Except for D. Shivanandan, no policeman was transferred out of the branch during my tenure. Even in the case of Mr Shivanandan, who was the joint commissioner, I was not keen on his transfer to the CBI. In fact, I was accused of delaying his deputation to the CBI. I was keen on retaining him in the crime branch," Mr Bhujbal said.

"I had not shown any favour to any individual or gang. I arrested Shiv Sena chief Bal Thackeray and also Abu Azmi of the Samajwadi Party. I sent a police team to Bangkok to arrest Chhota Rajan and also took strict action against the Dawood Ibrahim gang. I arrested Bharat Shah on the basis of his telephone conversation with Shakeel. I also prevented the screening of a film which was financed by Shakeel," he said. "I am single-handedly lobbying for a ban on the Students' Islamic Movement of India. I work without fear or favour. I am not obliged to anybody," he added.


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RSS doubts Tehelka tapes genuineness
Kolkata,Friday, August 24, 2001: Rashtriya Swyamsevak Sangha (RSS) Chief K Sudarshan today expressed doubts over genuineness of the disclosures made in Tehelka tapes. The RSS Chief, who was in city for a day, said the latest technology can show people doing unbelievable things.

"Now-a-days technology has improved to such a level that one can show on video as anyone doing anything though the person concerned might not have done such things", Sudarshan told PTI.

Sudarshan said the transcript released by Tehelka on its alleged recordings were not complete.

"At one point the transcript shows someone talking about bribes to be paid to minister, but at the same time it does not mention the same man saying that George Fernandes does not take money. This is in the so-called 90-hours recording submitted by Tehelka," he added.

Sudarshan said he had been recently shown a video cassette prepared showing people like Pakistan President Parvez Musharraf, Parliamentary Affairs Minister Promod Mahajan and RJD Chief Laloo Prasad Yadav doing absured things.

"I am sure none of these people had ever done anything like that which is being shown in the in the video", he said.

The RSS chief also slammed a section of media for speculating on the so-called differences among RSS, Prime Minister Atal Behari Vajpayee and Home Minister L K Advani.


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RSS opposed to ban on SIMI
The Rashtriya Swayamsevak Sangh (RSS) does not favour imposing any ban on Students Islamic Movement of India (SIMI) which has been accused of links with Pakistan-sponsored terrorist organisa-tion. Nine SIMI activists were arrested in Jalgaon while some others were held Delhi and U.P. for alleged anti-national activities recently.

At a press briefing here on Thursday, RSS spokesman M.G.Vaidya said, "We are not in favour of any restrictions on SIMI." He was reacting to allegations by SIMI secretary general Safdar Nagori that the RSS and the Sangh Parivar were maligning SIMI as they viewed it as a hurdle in the course of Hindutva. The Maharashtra government has recommended to the Centre to ban SIMI and Union home minister L.K. Advani has gone on record, saying evidence was being collected against SIMI for the necessary action.

"We do not think SIMI has any influence to obstruct Hindutva. Instead of any ban on it, it should be dealt with severely if found violating laws," the RSS spokesman said.
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Pallav Sheth surrenders before special court
Businessman Pallav Sheth on Thursday surrendered before a special court to undergo a month’s jail term for committing contempt of court.

He surrendered before special judge Sarosh Kapadia, who ordered the police to take him into custody. The special court had in January this year convicted him for committing contempt in a case pending before it. He filed an appeal in the special court through his counsel.
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300 trees face the axe at Haji Ali
Three hundred trees from Lotus Cinema to Haji Ali circle will be cut down in lieu of the traffic generated at Haji Ali due to the construction of the Bandra Worli sea link project. To maintain a smooth flow of traffic, the Brihanmumbai Municipal Corporation (BMC) is widening the road by 30 feet.

These trees, which are on municipal land, will now be cut to make way for the road. This proposal to cut down the trees was placed before the members of the tree authority, who rejected it.

Speaking to Bombay Times, tree authority member H A Raje, says, "These trees should not be cut right now, as the Worli Bandra sea link project will take time to be completed. Why do they want permission now, to cut the trees? The corporation does not have any money to carry out major development works. Till that time, let the green cover remain."

Shiv Sena’s nominated councillor K P Naik, says, "Why is the BMC keen to cut the trees now? The project will take at least three years to be completed, till that time the green cover should remain. Later we will see what is to be done."

Superintendent of the Garden Department, K L Velodi, says, "There are a lot of casicca and eucalyptus trees along that stretch. We have also developed small gardens along the road. But now as the road requires widening, the permission to do so is being asked for by the road department."

The road department plans to widen the road by 30 feet and the remaining eight feet will be reserved for the footpath, wherein the green cover will be provided. The proposal will, once again, be put up on August 29, for approval by the tree authority.
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Pakistan keen to cooperate with India in IT
New Delhi,Friday, August 24, 2001: Pakistan today expressed its keenness to co-operate with India to develop its Information technology (IT) sector. "India has done extremely well in IT sector and has become a leader in this sector. We see nothing wrong in getting together in IT sector. We will welcome it," Pakistan's Commerce, Industry and Production Minister Abdul Razak Dawood said here.

Dawood said that Pakistan itself was keen on IT sector, and pointed out that it was in the process of setting up Technology Parks.

"Our State Life Insurance owns prime property and we are establishing Technology Parks in some of them," he said.

He said some Indian entrepreneurs from Silicon Valley, under the aegis of The Indus Enterpreneurs (TiE), had already contacted Pakistani IT experts to work on a strategy to develop the industry in Pakistan.

"They, in fact, met our President Gen Pervez Musharraf to discuss the strategy that should be adopted for the development of the sector," he added.


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Pakistan to lift ban on textile machinery, ban on sugar stays
New Delhi,Friday, August 24, 2001: Pakistan said today it will soon lift the ban on import of textile machinery from India even as the ban on sugar import will continue. "We are right now in the process of allowing your textile machinery into Pakistan. Why? Because it makes good business sense. That's why, and we would like to further this process," Pakistan's Commerce, Industry and Production Minister Abdul Razak Dawood said here.

Addressing an interactive session organised by FICCI he said that at the same time last year Pakistan had removed the ban on import of textiles as part of efforts to liberalise its economy and make it more market driven.

The minister, however, clarified that the ban on import of sugar from India would continue to stay.

"The decision (to retain the ban) was taken by none other than myself, but I assure you that there was no politics of the sub-continent or politics of pressure groups operating within Pakistan. I assure you here today that the decision was purely economics," he said.


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Ketan Parekh gets conditional bail; asked to pay Rs 16 crore
Ahmedabad,Friday, August 24, 2001: Stock broker Ketan Parekh, arrested for alleged fraud and misappropriation of public funds belonging to Madhavpura Mercantile Cooperative Bank (MMCB), was today given bail on condition that he would pay Rs 16 crore to the bank within three to six months. Chief Metropolitan Magistrate (CMM) Smitaben Shah, before whom Parekh was produced here by the CBI, who brought him here from Mumbai after expiry of his 15 days remand, also asked the accused to furnish Rs two lakhs in cash and solvency surety of Rs 10 lakhs.

The accused today gave a written undertaking that he would give MMCB Rs 16 crore to be paid to its over one lakh small investors within three to six months.

The CMM also asked Parekh to produce himself every Monday before the CBI in Mumbai which was investigating the MMCB and the Rs 135 crore pay order scam.

Moreover, one of the other conditions of the bail was that Parekh should return to MMCB its Rs 380 crore, which he had allegedly misappropriated with other accused in the case, within three years, failing which he was liable to be arrested.


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Pakistan says "no objection" to Indo-Iran gas pipeline
New Delhi,Friday, August 24, 2001: Pakistan said today it has no ojection to laying of a gas pipeline between India and Iran passing through its territory. Speaking to reporters on the sidelines of an interactive session organised by FICCI, Pakistan Commerce Minister Abdul Razzak Dawood said that though the issue was not specifically taken up during discussions with the Indian counterparts "we have said we have no objections to it".

"I was in Iran last month during our inter-ministerial summit and we have told Iran that we have no objections to the gas pipeline project," he said.

In response to a query on how long it would take for the project to begin Dawood said,"that will take some time. I have been given to understand that the Indian side is currently doing the feasibility study of the project; It is a very large project".

Asked if Pakistan was keen to sell its surplus power to India, Dawood said,"we had a surplus position but now we are getting into a situation that in about a year's time we will not have surplus power".

"I would not recommend us going to discuss on selling power to India. In the last one year we have not set up a single power plant. It will take at least two years for new plants to be set up. We are facing a situation where we could be in a shortage", he added.


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BSE: Sensex moves in small range at early stages
Mumbai,Friday, August 24, 2001: The sensex remained trapped in a small range of about ten points in scrip-specific trading at early stages on the Bombay Stock Exchange (BSE) on selective buying and selling by operators and retail investors. The BSE Sensitive Index opened fractionally lower at 3302.22 as against Thursday's close of 3308.79, and later fluctuated in an extremely narrow range between 3307.07 and 3298.87 before being quoted at 3297.04 at 10.30 am.

The low volume was mainly attributed to slowdown in FII activity with Foreign Institutional Investors (FIIs) turning net sellers, albeit in small quantity, in the first two sessions of the current week.

FIIs have turned extremely cautious in view of depressed sentiment in major world markets. The recovery on Wall Street failed to sustain further with a setback Thursday night due to dispiriting fundamentals and investors disinterest, market sources said adding 'the focus of the Federal Reserve on the depth of the weakness in the US economy had been the only reason of concern for them'.

Among the top gainers, UTI Bank rose by 5.05 per cent, Mastek by 4.97 per cent, Supreme by 3.96 per cent, Thermax by 3.37 per cent, Wipro by 3.28 per cent, MTNL by 2.84 per cent, Bajaj auto by 2.11 per cent and VSNL by 2.09 per cent.

However, HCL Info, SSI Ltd, Trigent Tech, TataFinance, ITC, Grasim and NIIT were among the prominent losers.


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India 55 for one at close
Kandy,Friday, August 24, 2001: Set a target of 264 runs for victory, India were 55 for one in their second innings at stumps on the third day of the second cricket Test against Sri Lanka here today. Earlier, Sri Lanka were all out in their second knock for 221. Brief Scores:- Sri Lanka: 274 and 221. India: 232 and 55 for one in 23 overs (S S Das 19, S Ramesh batting 15, R Dravid batting 11).


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Tendulkar to leave for South Africa on Aug 26
Mumbai,Friday, August 24, 2001: Batting maestro Sachin Tendulkar will leave for South Africa on August 26 for treatment of his right toe by orthopaedic specialist Dr Mark Fergusson. Tendulkar, who injured his toe during the last league match against West Indies in the triangular series in Zimbabwe on July four, will take an early morning flight for Johannesburg, Cricket Board sources said here today.

The Mumbai star missed the on-going Test series and the Triangular series in Sri Lanka due to the injury and is expected to be fit for the forthcoming tour of South Africa from October one.


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Warne Tendul-corized!
Sydney,Friday, August 24, 2001: It is purely a love-hate relationship. Tormented once, as Shane Warne says, by master-blaster Sachin Tendulkar in nightmares, the legendary leg-spinner has finally found words to express his admiration for the batsman. A candid and insightful autobiography by Warne, which hit the stands here, describes how he was "Tendul-corized" and hails the Indian as "number one" in the game. Amongst descriptions of the many memorable matches played against almost all cricketing nations across the globe, Warne relates the legendary on-field battles with Tendulkar as also Brian Lara. "Much has been made of my personal contest with Tendulkar," he writes. "Some people have said that my duel with Tendulkar in India in 1997-98 was the most compelling Test cricket they have ever seen, but there is no doubt he enjoyed the better of the exchanges. "He has played me better than anybody. Most Indian batsmen pick the length very quickly, even when it is flighted above the eyeline, but Tendulkar moved into position even earlier than the likes of Mohammad Azharuddin and Rahul Dravid." The eulogy continues. "His footwork is immaculate. He would either go right forward or all the way back and he has the confidence to go for his strokes. I suppose I would be confident too if I batted as well as Tendulkar".


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Pulling out of ATC no indicator in policy shift: Uma Bharti
New Delhi,Friday, August 24, 2001: Concern over security of some of the top cricketers was one of the main reasons behind the Government decision not to allow the team to tour Pakistan to participate in the Asian Test Championship, Sports Minister Uma Bharti said today. "Players' safety was the primary concern behind Government's decision not to give permission to the team to tour Pakistan," Bharti told PTI here. "I don't mean to say that our players would not have been provided adequate security in Pakistan. I am sure they would have been... But with Dawood Ibarhim operating from that country and the threat perception looming large over some of the cricketers, the Government could not convince itself to allow the team to play ATC matches in Pakistan," she said. "We are obviously concerned about our sportspersons," she added. In an earlier decision, the Government had said it had no problems in India playing against Pakistan in multi-lateral tournaments at regular venues and the ban was restricted to bilateral series between the two countries. However, Bharti insisted the decision to pull out from ATC, a multi-lateral tournament involving Sri Lanka and Bangladesh too, and to be played at venues certified by International Cricket Council, was not a change in Government policy.


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Markets
To get today's complete NIFTY (the NSE index) listing send an e-mail to get-nse@mumbai-central.com
(updated multiple times a day)
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(updated once a day)
Sensex: 3305.51, -3.28

The sensex closed at 3305.51, down 3.28
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Forex
 
1  U.S. $ = 47.11 INR
1  Japanese Yen  = 0.39 INR
1  British Pound  = 67.96 INR
1  Canadian $ = 30.54 INR
1  Singapore $ = 26.89 INR
1  UAE Dirham = 12.83 INR
1  Saudi Arabian Riyal = 12.56 INR
1  Euro = 42.90 INR
 
Metals
No data
Weather
 
Temperature: 86 F / 30 C
HeatIndex: 93 F / 34 C
Humidity: 66%
Dewpoint: 73 F / 23 C
Wind
West  at 9 mph / 14.5 km/h
Pressure: 29.68 in / 1005 hPa
Conditions
Haze
Clouds
Scattered Clouds (SCT): 2000 ft / 611 m
Cumulonimbus,FEW: 3000 ft / 916 m
Mostly Cloudy (BKN): 10000 ft / 3050 m
Sunrise : 06:22 AM (IST)
Sunset : 07:00 PM (IST)
Moon Rise : 11:27 AM (IST)
Moon Set : 11:14 PM (IST)
  
Tonight : Low: 73 F / 23 C Thunderstorm 
 
Saturday : High: 82 F / 28 C Thunderstorm 
 
Saturday Night : Low: 73 F / 23 C Thunderstorm 
 
Sunday : High: 82 F / 28 C Thunderstorm 
 
Sunday Night : Low: 73 F / 23 C Thunderstorm 
  
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