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[Grapevine] For 1 Aug, 2002



Title: The Mumbai Grapevine
The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
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Headlines
News:
India rejects US suggestion on poll observers
Anand brothers get life for killing Rajwansh
NHRC differentiates between rights of army & civilians
Hurriyat & Shabir do not respond unfavourably to Powell offer
MTNL plans direct net access for phone consumers
EU tells Pak to help poll process in J and K for Dialogue
ARF asks Pak to halt cross-border terrorism
Shyamalan : The Next Speilberg
Petrol prices not to be altered: Naik
Rupee steady against US dollar
Paes and Bhupathi have achieved a lot: Becker


Markets:
Sensex: 2975.81, -11.84




Forex, Metals and Weather below

News
India rejects US suggestion on poll observers
New Delhi,Sunday, August 01, 1999: Deputy Prime Minister L K Advani Thursday rejected the US suggestion on allowing International observers for Jammu and Kashmir assembly polls but asserted all steps would be taken to hold "free and fair" elections in the state.

"We do not need any certificate from outsiders. J and K is an inseparable part of India," he said adding the Election Commission has been requested to hold not only a free and fair poll in the state but also it should be seen as free and fair.

Winding up a short duration discussion on J and K in the Rajya Sabha, Advani said the Centre was prepared for devolution of more powers not only to Jammu and Kashmir but also to other states to strengthen federalism but ruled out pre-1953 status for Jammu and Kashmir.

Sharing sentiments of the members who wanted the Government to ensure a free and fair poll in the state, Advani said he had a telephonic conversation with Jammu and Kashmir Chief Minister Farooq Abdullah Thursday morning who assured him that he would take every step for a free and fair poll.

The Chief Minister also said all citizens, NGOs and ambassadors can go to the state to observe the poll process, Advani said.

On US Secretary of State Colin Powell's remarks that Kashmir was on the international agenda, he said Kashmir is an internal problem of the country and if at all there is any international dimension to it, that is cross-border terrorism.


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Anand brothers get life for killing Rajwansh
(Express News Service)

The Sessions Court today sentenced Ketan and Vivek Anand, sons of film-maker Chetan Anand, to life imprisonment along with the two other accused for the murder of actress Priya Rajwansh on March 27, 2000. Climaxing a trial that lasted less than two months, Judge S P Nikam also directed that the Anand brothers be taken into custody immediately. They had been released on bail in September 2000, five months after Rajwansh was killed. The other two accused, the maid Mala Choudhary and her accomplice Ashok Chinnaswamy, are already in custody.

Dictating his order at 11 am today, Judge Nikan said he was sentencing all the accused to life imprisonment under Section 120-b (conspiracy) of the Indian Penal Code (IPC). The Anand brothers, accused of instructing the other two accused to commit the murder, have also been convicted under Section 120-b read with Section 302 (murder) of the IPC but acquitted under Section 302. On the other hand, Choudhary and Chinnaswamy, accused of strangling Rajwansh in the bathroom, have been convicted under Section 302 of the IPC as well. Defence lawyers Harshad Ponda, Satish Maneshinde and Milind Godbole said they would appeal the verdict in the Bombay High Court.

During the course of the trial, the prosecution had produced 28 witnesses including television producer Siddharth Kak while the then chairperson of the Central Board of Film Certification (CBFC), Vijay Anand, deposed as a witness for the defence. After the judge pronounced his verdict, Public Prosecutor Kiran Makasare told the media that the case had been argued on the basis of circumstantial evidence and that the conspiracy had to be proved through diaries penned by Rajwansh.

After appointing an expert to identify Rajwansh’s handwriting in the diaries and in letters she wrote to her brothers, the prosecution relied heavily on these documents to establish that Rajwansh’s life was in danger. In these documents, Rajwansh had repeatedly mentioned threats she had received from the Anand brothers. This was bolstered by the statements of prosecution witnesses, who said that Rajwansh was afraid and kept visiting the bungalow only to establish her claim over the one-third share she had been bequeathed by Chetan Anand, a long-time friend.

Rajwansh was murdered on the night of March 27, 2000, in the bathroom of Chetan Anand’s Ruia Park bungalow in Juhu, where his sons resided after his death.

In his will, Anand had bequeathed his property to his sons and Rajwansh, who enjoyed a one-third share each. The prosecution had established that the Anand brothers had conspired to kill Rajwansh as they did not want to part with her share of the bungalow.
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NHRC differentiates between rights of army & civilians
New Delhi,Sunday, August 01, 1999: Making an obvious differentiation between the rights of an army personnel and a civilian, National Human Rights Commission (NHRC) has rejected a demand of an army Captain seeking compensation following death of his daughter in an attack in militancy-infested Jammu and Kashmir. NHRC, which received a complaint by Captain Ram Niwas Sharma that his daughter was blown up while travelling in an army vehicle to "terrorise the public and send a message that anyone associated with the Army would be eliminated", closed the case after receiving Defence Ministry's reply.

Apparently satisfied with the reply of the Defence Ministry, NHRC Chairman J S Verma in his one page order said "the report (of defence ministry) is taken on record and the case is closed, as no further intervention by the Commission is deemed necessary."

In response to the Commission's notice regarding the matter, the Ministry acknowledged that Sharma's daughter Leena was killed in an Improvised Explosive Device (IED) in Pulwama district of the state while travelling in an army bus from Srinagar to Jammu on completion of her annual examination.

However, it rejected the claim for compensation citing the rules governing the payment of ex-gratia lumpsum compensation and the guidelines to be observed for payment of ex-gratia in various clauses.

According to the Ministry rules, compensation will generally be restricted to those cases where the death of the service personnel was directly caused by actual field operation or was killed by militants, terrorists and extremists after being kidnapped.


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Hurriyat & Shabir do not respond unfavourably to Powell offer
New Delhi,Sunday, August 01, 1999: Separatist leaders in Jammu and Kashmir have not responded unfavourably to the US stress on the poll process in the valley but in their different ways want the process to be linked to solution of the Kashmir issue. While senior separatist leader Shabir Shah favours dialogue before any political exercise could be undertaken, Hurriyat Conference chairman Abdul Gani Bhat called for roping in of international observers to monitor the poll process.

However, both the leaders link their participation in the poll process with resolution of the Kashmir issue.

Shah, who was in the capital, told PTI that he was ready for contesting the elections but only if a decision to this effect was arrived at after a dialogue between India and people of Kashmir.

"I have never shown my back to any test, if it is aimed at ascertaining the representative character," Shah said.

During his brief stay in the capital, the seniormost Kashmiri separatist leader made it clear that the forthcoming elections in the state, scheduled in September, are as of now beyond his political reach.

"If Indian stand is that elections are the first step to peaceful resolution of the issue, then it has to convince us and for that extensive dialogue process has to be initiated," he said.

"Count us in the polls if they are the first step in resolving the dispute but that process should have observers from international community," Bhat told PTI.


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MTNL plans direct net access for phone consumers
Mahanagar Telephone Nigam Ltd (MTNL) is testing a new package that will slash the internet access costs for its telephone customers.

The new programme, called direct internet access service (DIS), is currently undergoing testing and will be launched in Mumbai in a month’s time.

The DIS uses the capacity of the telephone copper wires to provide both voice and data services.

The service means that MTNL’s customers will not have to bear the local call charges while using any dial-up connection for the net.
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EU tells Pak to help poll process in J and K for Dialogue
Bandar Seri Begawan (Brunei),Sunday, August 01, 1999: The European Union (EU) Thursday said peaceful elections in Jammu and Kashmir without any disruption by terrorist strikes could pave way for resumption of the stalled dialogue between India and Pakistan. India and Pakistan can hope to resume their talks and a peaceful elections in Jammu and Kashmir will show a "positive way" for this, EU'S High Representative for Foreign Affairs Javier Solana told reporters here.

Solana made these remarks when asked if Pakistan was under increasing pressure from international community in the past few weeks in implementing its pledge to completely stop support to cross-border terrorism into Jammu and Kashmir.

"It is time cross-border terrorism comes to an end," he observed adding that India and Pakistan should resolve their differences including the Kashmir issue through peaceful means.

"The Kashmir problem cannot be hidden," he noted.

Solana said EU's assessment was that infiltration of terrorists into J and K has diminished but not ended and it expected Pakistan President Pervez Musharraf to ensure that Asembly elections in J and K were not disrupted.

He hoped the elections would be held in a climate of freedom.


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ARF asks Pak to halt cross-border terrorism
Bandar Sri Bagwan (Brunei),Sunday, August 01, 1999: A security grouping of Asian and Western nations asked Pakistan to take "urgent further steps" to halt cross-border terrrorism as an immediate way to de-escalate the Indo-Pak standoff and not to disrupt assembly elections in Jammu and Kashmir. Foreign Ministers of 23-member ASEAN Regional Forum (ARF), Asia's biggest security grouping, also decided yesterday to build a network of intelligence and cooperation aimed at cutting off funding to terrorists.

A declaration adopted by the forum after its day-long meeting here put the onus on Pakistan for resumption of the stalled Indo-Pak dialogue after its foreign ministers echoed India's position on ending cross-border terrorism as an "important step" to facilitate talks.

The declaration by the ARF representing all the major powers came hours after U.S and the EU said it was "incumbent" on Pakistan to ensure an atmosphere free of violence in the runup to the elections in Jammu and Kashmir and that it did not seek to "disrupt" the poll process.

U.S Secretary of State Colin Powell said Pakistan must cease support to cross-border terrorism while EU's top foreign policy representative Javier Solana said Islamabad had a role and responsibility in ensuring that the J and K elections were not disrupted.


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Shyamalan : The Next Speilberg
New York,Sunday, August 01, 1999: As his new alien flick 'Signs' hits the screens tomorrow, India born screenwriter-director Manoj Night Shyamalan is being tipped as the next Steven Speilberg, going by the opinion at the previews, and a cover story devoted to him by a leading US Magazine. "I don't care about box office. I want to be a phenomenon where audience feels some connection," the lad from Pondicherry, described by 'Newsweek' as the "next Steven Spielberg" says.

His goal with movies is to "have a profound effect on the audience." At 31, Shyamalan is among the younger celebrities and highest paid screenwriter in the harsh, competitive and combative world of Hollywood.

Critics say 'Signs' is based on fresh ideas, in a season when most of the movies which did well were either based on old ideas or were sequels.

'Signs' is science-fiction thriller with strong family bonds- subjects which are dear to his heart. It is about a former priest played by Mel Gibson who loses his wife in tragic circumstances and thus loses his faith. His life begins to change when crops circles suddenly appear on his farmhouse, where he stays with his brother and children.

Newsweek says like all of Shyamalan's movies, 'Signs' is obsessed with the unknown, but with themes of family, parenting and self-renewal. The film, says the magazine, is shot with the "unmistakable admonition that we must draw whoever is near and dear to us even nearer."

Says his mother Jayalakshmi, a retired obstetrician, in an interview to the magazine, "I feel he should make nice movies. The latest thing-sex and that sort of thing-I am not for it.


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Petrol prices not to be altered: Naik
New Delhi,Sunday, August 01, 1999: State-owned oil retailing companies will not alter prices of petrol and diesel this fortnight as prices in the international markets have stabilised, Federal Petroleum Minister Ram Naik said Thursday. "For the third successive fortnight, oil companies are not increasing prices of petrol and diesel. This is because international prices have stabilised and we hope the trend would continue in the future," Naik said here.

In accordance with the mechanism evolved by oil companies to review prices every fortnight after dismantling of Administered Pricing Mechansim (APM), Indian Oil, Bharat Petroleum and Hindustan Petroleum reviewed the prices of Motor Spirit (petrol) and High Speed diesel (HSD) and have decided not to increase them as they were almost at import parity, he said.

After deregulation of oil sector from April 1, state-run oil companies for the first time increased prices of petrol and diesel by Rs 2.50 per litre and Rs 1.50 per litre on June 3. In the subsequent fortnight, they hiked prices by Rs 0.25 per litre each on petrol and diesel.

"Prices are more or less on international parity. The situation does not warrant any immediate increase in prices of petrol and diesel," he added.


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Rupee steady against US dollar
Mumbai,Sunday, August 01, 1999: The rupee held more or less steady against the US currency early Thursday in extremely thin and listless dealings at the Interbank Foreign Exchange market but the outlook for the rupee remains upbeat. The domestic unit was quoted at Rs 48.66/67 per dollar in late morning deals, little changed from the overnight finish of Rs 48.6600/6650. The rupee opened at Rs 48.66/68 per dollar.

The forex spot trade remained quiet and range-bound due to lack of market moving factors. However, strong dollar supplies from exporters and foreign fund inflows will continue to give the rupee good underlying support, a forex dealer said.

The rupee scaled an over five-months' peak against the US dollar Wednesday, backed by strong healthy exporter dollar supplies in the absence of adequate import demand.

In cross currency trades, the Euro was quoted at Rs 47.61/63, Pound Sterling at Rs 76.13/15 and Japanese Yen (100) at Rs 40.62/64.


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Paes and Bhupathi have achieved a lot: Becker
Jaipur,Sunday, August 01, 1999: Three-time Wimbledon champion Boris Becker today said India's top doubles pair of Leander Paes Mahesh Bhupathi should not worry about their performance in singles because what they have achieved together was commendable. "They were very good in doubles but they could not concentratre in singles due to their doubles engagements. Otherwise they could have done well in singles too but they should not rue over it because they have achieved much together," Becker said.

Becker, who is in the city for a commercial shoot, ranked Australia's Lleyton Hewitt as the best player among the current crop.

"There are many exciting players on the tennis scene at present like Tommy Haas and Marat Safin who are tremendous players. But I think the current Wimbledon champion Lleyton Hewitt is the best."

Becker will always be known as the youngest player to win at Wimbledon as a 17-year old in 1985. No wonder the mention of the venue, of which he once famously said "it is where I was born," strikes a deep chord in him.

The 34-year-old Becker said he did not approve the idea of retractable roof at Wimbledon's historic Centre Court.

"For the last five or six years I have been hearing about plans to cover the Centre Court, but I dont know when it will be done.

"But if you ask me, I would like it to remain as it is. Wimbledon has its own atmosphere and covering the court with roof will affect it," said Becker.


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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 multiple times a day)
To get today's NAVs for mutual funds send an e-mail to get-mf@mumbai-central.com
(updated once a day)
Sensex: 2975.81, -11.84

The sensex closed at 2975.81, down 11.84
Top


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Forex
 
1  U.S. $ = 49 INR
1  Japanese Yen  = 0 INR
1  British Pound  = 76 INR
1  Canadian $ = 31 INR
1  Singapore $ = 28 INR
1  UAE Dirham = 13 INR
1  Saudi Arabian Riyal = 13 INR
1  Euro = 47 INR
1  Qatar Rial = 13 INR
 
Metals

 No data
Weather
Temperature : 84 F / 29 C  
HeatIndex : 89 F / 32 C 
Humidity : 66%
Dew Point : 72 F / 22 C 
Wind : WNW at 5 mph / 8.0 km/h 
Wind Gust - 
Pressure : 29.56 in / 1001 hPa (Steady)
Conditions : Haze
Visibility - 
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