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News:
Govt to soon issue ordinance on electoral reforms
Calling for a green Ganapati
India considers itself "at war" with Pakistan: Advani
Pak looking ahead to Musharraf-Vajpayee meeting in New York
Crowds witness 'sagar pujan'
Kalam re-promulgates securitisation ordinance
SEBI launches fresh probe on TFL for alleged circular trading
Govt initiates anti-dumping steps against EU, S.A., Singapore
Rupee eases mildly against US dollar
India 132 for one at tea in third test against England
Indian weightlifter disqualified and stripped of medals
Robin Singh likely to lead Indian team for Champions trophy
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Govt to soon issue ordinance on electoral reforms
New Delhi,Thursday, August 22, 2002: The Federal Government is likely to issue an ordinance soon on electoral reforms nullifying the Election Commission notification issued on the basis of Supreme Court's directive.
"The Ordianance on Electoral Reforms is in the pipeline," Minister of State for Law and Justice Ravishankar Prasad told PTI on Thursday.
The Ordinance has been prepared on the basis of unanimity of views at two all-party meetings convened by the Law Minister Jana Krishnamurthy.
The EC notification had caused anxiety among all parties as it had envisaged rejection of nomination of candidates if they did not give proper information about their criminal antecedents, assets and liabilities and educational qualifications.
The Cabinet had on August 16 approved the promulgation of an ordinance on electoral reforms seeking to curb criminalisation of politics.
The Government's resort to issuance of the ordinance comes in the wake of its inability to amend the Representation of the Peoples Act following abrupt adjournment of the Monsoon Session of Parliament.
The Ordinance, expected to be a replica of the Amendment Bill, envisages that a candidate would be disqualified to contest parliamentary and assembly elections only if he had been convicted in a criminal case.
It also stipulates that every elected member would have to file his assets and liabilities to the Speaker of the Lok Sabha or respective assemblies or the Chairman of Rajya Sabha.
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Calling for a green Ganapati
(Express News Service)
With the Ganpati festival hardly 15 days away, the Brihanmumbai Municipal Corporation has been unable to stop trees being cut to accommodate Ganpati pandals. Nearly 45 trees were ‘pruned’ along the route leading to Mumbai Central station from Saat Rasta, leaving one side sparsely green and one skeletal side. Three huge 60-year-old trees were felled opposite Spring Mills Chawl at Naigaum, giving way to a huge pandal. As both instances of involved a large number of trees being cut, tree lovers are worried about the fate of the city’s dwindling tree population with the onset of the festival.
The civic authorities have issued standing instructions to their ward offices that trees found obstructing traffic along the route taken by Ganpati mandals must be pruned, which is how they are explaining the mutilation of the trees near BYL Nair Hospital at Mumbai Central. The trees now appear tilted to one side.
‘‘The effect will be seen over a period of time. The trees will grow weak and die an unnatural death. The pruning has been done with such negligence, it pains to see what they have done to healthy trees. The civic body seems to be making a mockery of its commitment to a green Mumbai,’’ says 15-year-old Jamshed Cooper, who discovered the manner in which the trees were pruned.
While confirming that standing orders have been issued to ward offices on pruning, Superintendent of Gardens K L Velodi however denied that the trees were cut harshly. He said the pruning is conducted twice a year so that pedestrians and traffic are not affected.
Incidentally, the Central Complaints Redressal System telephone number of the BMC (1916) has registered 22 complaints between June 30 and August 4 of indiscriminate cutting or pruning of trees. Four trees were reported cut each outside Ghatkopar Guest House on Station Road at Ghatkopar (West) and at Dilai Road opposite Apollo Mills in Parel. Three trees each were reported cut at Kashinath Patil Wadi on Chembur-Govandi Road and at Plot No 25, Sun Sea Building in Sector 3 of Kandivli, Charkop. None of the culprits was nabbed.
At Dadasaheb Phalke Road, however, residents’ pressure ensured that a shopkeeper who had pruned some trees was jailed for a day and half. Recounting the incident, AGNI Co-ordinator and a resident of Parel Bhaskar Prabhu said, ‘‘Citizens can learn from our experience. In the guise of beautification, the owner of a shop opposite Gautam Nagar had cut a tree. When residents complained to the fire brigade, they merely informed the civic disaster management control room that a tree had fallen and they were collecting the pieces. We managed to find the complaint number from the control room and complained to the local police (Bhoiwada police station) who arrested the shopowner.’’
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India considers itself "at war" with Pakistan: Advani
London,Thursday, August 22, 2002: India considers itself "at war" with Pakistan over Kashmir, though there is no formal declaration of hostilities, Deputy Prime Minister L K Advani said here.
"When people ask me 'will there be a war between India and Pakistan?' they are obviously referring to a declared war like that which happened in 1971 or 1965. But for India, we are at war," he told Britain's Channel Four television.
He said there was no point in resuming talks with Pakistan until cross-border terrorism was put to an end.
Advani, who is on a three-day visit to the United Kingdom, said cross-border terrorism "is still considerable, although there has been some reduction in infiltration because of international pressure on Pakistan."
"However, infiltration is only one aspect of cross-border terrorism. There are other components of cross-border terrorism - training of terrorists, financing them, providing arms to them, letting terrorist camps to continue to function on Pakistani soil."
Advani also observed that Pakistan has been under "great pressure", both internationally and internally.
"Having promoted fundamentalism to harass India, it is facing harassment itself to some extent," he said.
Advani accused Pakistan of sabotaging the forthcoming elections in Jammu and Kashmir by creating an atmosphere of fear in the state, but affirmed that the elections in the state would be held on schedule and would be fully fair and free.
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Pak looking ahead to Musharraf-Vajpayee meeting in New York
Kathmandu,Thursday, August 22, 2002: Despite India ruling out early resumption of Indo-Pak dialogue, Pakistan on Thursday said it would welcome a meeting between President Pervez Musharraf and Prime Minister Atal Bihari Vajpayee at New York next month and expressed its readiness to discuss the issue of terrorism at the level of foreign ministers of the two countries.
"If Prime Minister Vajpayee wishes to meet President Musharraf, we will certainly welcome that," Pakistan Minister of State for Foreign Affairs Inamul Haq told Indian reporters here when asked about the possibility of a meeting between the two leaders on the sidelines of the UN General Assembly session.
Haq's renewed offer for dialogue comes a day after India made it clear that appropriate conditions for talks did not exist and accused Pakistan of not delivering on its commitments to end infiltration and cross-border terrorism in Jammu and Kashmir.
Haq said that at the Agra Summit it was agreed that the issue of terrorism in all its aspects would be discussed at the Foreign Ministers level. "We are ready to engage in these discussions."
He reiterated Pakistan's demand for an international neutral mechanism to monitor the Line of Control to see whether infiltration was taking place or not, a proposal rejected outright by India.
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Crowds witness 'sagar pujan'
MUMBAI: A sea of humanity converged at Girgaum Chowpatty on Thursday evening for the ‘sagar pujan’ organised by the ‘Swadhyaya parivar’, a spiritual movement, founded by Pandurang Shastri Athavale.
Fisherfolk from Gujarat to Goa witnessed the ‘puja’, which is traditionally performed on the full moon day of Shravan month,which also marks the beginning of the fishing season. This year’s function marks the tenth year of such celebrations.
Chief minister Vilasrao Deshmukh, mayor Mahadeo Deole, BJP MP Kirit Somaiya and other dignitaries were present on the occasion.
Mr Athavale, fondly addressed as ‘Dada’ by his followers, was present on the occasion. However, he did not give a discourse.
A wooden platform was specially erected a few metres into the sea,where the rituals were performed. Jayashree Talwalkar, affectionately addressed as ‘Didi’, by the followers of Mr Athavale had the honour of performing it.
Simultaneously, ‘aartis’ and devotional songs were sung over the microphone for those assembled.
The ‘Swadhyaya movement’ is widely supported by the fisherfolk of Maharashtra and Gujarat, who credit Mr Athavale for bringing about a radical transformation in their lives. Expressing his gratitude to Mr Athavale, one fisherman said that he gave the different communities and castes engaged in fishing activity, a common identity -’Sagarputra’.
Ms Talwalkar noted Mr Athavale had given a new direction to the fisherfolk. “He did not just change names (to ‘sagarputra’) but helped uplift their lives.’’
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Kalam re-promulgates securitisation ordinance
New Delhi,Thursday, August 22, 2002: President A P J Abdul Kalam has re-promulgated the securitisation ordinance to enable banks and financial institutions to take possession of defaulters' securities and sell them, in a bid to tackle the problem of non-performing assets (NPAs) estimated at over Rs 100 billion.
This seeks to replace a similar ordinance promulgated on June 21 this year, an official release here on Thursday said.
This would also permit banks and FIs to create a market for the securitised assets and help improve their asset-liability management.
The re-promulgation of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance 2002 would enable banks and FIs to set up Asset Reconstruction Companies which would buy NPAs from banks and securitise them in exchange for debenture units.
The Federal government and the Central Bank, Reserve Bank of India (RBI) have advised banks and financial institutions to take several steps for recovery of dues by evolving and implementation of recovery policy, compromise settlements through Settlement Advisory Committee and Monitoring and follow-up of NPAs at various levels in banks.
The Federal Cabinet had given its nod for re-promulgation of the ordinance last week.
The ordinance would, however, not cover agricultural loan and small loans.
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SEBI launches fresh probe on TFL for alleged circular trading
Mumbai,Thursday, August 22, 2002: Even as auditors A F Ferguson face the critical scrutiny of the Department of Company Affairs for alleged malpractices linked to Tata Finance controversy, the Securities and Exchange Board of India has launched a fresh probe into the books of the finance company on charges of circular trading.
"The fresh probe has been initiated after we came across a reference to circular trading in the report prepared by chartered accountancy firm A F Ferguson on irregularities in Tata Finance," SEBI sources told PTI here on Thursday.
Sources said a copy of the controversial report was later withdrawn by the firm after some of its portions were leaked to the media.
"We are still investigating the issue and have not arrived at any conclusions," they added when asked whether there was any indication of findings against former TFL managing director Dilip Pendse.
According to sources, SEBI is already investagating insider trading, allegedly done by Pendse and another director J E Talaulikar, in the finance company's scrip.
While investigation into Taluaulikar's case was complete, the entire probe was in an advanced stage, sources said.
Reserve Bank of India also undertook a routine inspection of TFL's accounts.
DCA has consulted RBI and other regulators in connection with financial irregularities involving TFL and Ferguson report.
DCA had indicated that it may launch inspection of TFL's books of accounts to determine whether any financial irregularities had taken place.
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Govt initiates anti-dumping steps against EU, S.A., Singapore
New Delhi,Thursday, August 22, 2002: Government has initiated an anti-dumping investigation against imports of Methylene Chloride from European Union, South Africa and Singapore.
Directorate General of Anti-dumping and Allied Duties, under the Commerce Ministry, has initiated the investigation on the basis of a petition filed by Vadodara-based Gujarat Alkalies and Chemicals Ltd on behalf of the domestic industry.
In its initiation notification, the DGAD said "there is sufficient evidence that normal values of the product under consideration in the said countries are significantly higher than the prices at which it has been exported to India, indicating, prima facie, that the subject goods are being dumped by the exporters from the EU, South Africa and Singapore".
The period of investigation for the purpose of the present investigation is from April 2001 to March 2002.
The product, Methylene Chloride, is a solvent used in photo films, bulk drugs and pharmaceutical industries. It is also used for manufacture of foam, resin casting, fumigant and agrochemical and as a paint stripper.
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Rupee eases mildly against US dollar
Mumbai,Thursday, August 22, 2002: The rupee eased marginal ground against the US currency early Thursday on stray dollar demand, but trade was quiet and range-bound at the Interbank Foreign Exchange market with sentiment remaining positive for domestic unit.
Opening on a weak note at Rs 48.54/55 per dollar, the rupee is currently quoted at Rs 48.53/54, mildly lower from the overnight finish of Rs 48.5275/5325.
Despite light dollar demand exerting mild pressure on the rupee, outlook for the currency remained distinctly positive due to sustained strong dollar supplies from exporters and inward remittances, dealers said.
The rupee gained by nearly four paise Wednesday, backed by healthy dollar supplies from export proceeds and foreign fund inflows in the absence of adequate buying support from importers.
In cross currency trades, the Euro was quoted at Rs 47.48/50, Pound Sterling at Rs 74.13/15 and Japanese Yen (100) at Rs 40.76/78.
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India 132 for one at tea in third test against England
Leeds (England),Thursday, August 22, 2002: Sanjay Bangar and Rahul Dravid struck half-centuries to give India a solid start on the opening day of the third cricket Test against England here on Thursday.
Both the batsmen were unbeaten on 51 as India reached 132 for one at tea after opener Virender Sehwag had been dismissed for only eight runs in the morning.
Indian captain Sourav Ganguly won the toss and elected to bat on a pitch which offered a lot of sideways movement.
True to its reputation, the pitch did make the life of the batsmen difficult but both Bangar, who was a surprise replacement for Wasim Jaffer ahead of Shiv Sunder Das, and Dravid played determined knocks to deny England any further success after Sehwag's dismissal.
It was tough progress for them and the scoring was very slow, especially in the morning session when only 58 runs came from 28 overs. But Bangar and Dravid did well to keep their wickets secure and they were far more comfortable in the post lunch session.
Their troubles were compounded by the uneven bounce and slow outfield. But the English bowlers were guilty of bowling slightly wide outside the off-stump thus allowing the Indian batsmen to settle down.
Both the batsmen reached their half-centuries towards the end of the post-lunch session. Dravid, when he reached 30, also completed 5,000 runs in Test cricket.
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Indian weightlifter disqualified and stripped of medals
London,Thursday, August 22, 2002: Commonwealth Games Federation on Thursday confirmed that Indian weightlifter Satheesha Rai had been disqualified and stripped of his medals for failing a dope test in the recent Commonwealth Games in Manchester.
The Karnataka lifter, who claimed two gold medals and a bronze in the 77 kg category, tested positive for strychnine, a prohibited substance under the International Olympic Committee's class of stimulants.
With Rai's disqualification, India now slipped behind Canada to the fourth position on the medals table.
The Indians had completed their engagaments in Manchester with a record haul of 32 gold medals, one more than traditional powerhouse Canada. But with two gold medals taken away, they now go down to the fourth position with 30 gold.
Rai thus became the second Indian to fail the dope test after weightlifter Krishnan Madasamy had tested positive for the banned nandrolone and was promptly stripped of his three silver medals in the 62 kg category.
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Robin Singh likely to lead Indian team for Champions trophy
New Delhi,Thursday, August 22, 2002: With top Indian cricketers making themselves unavailable by refusing to sign the sponsorship contract, veteran all rounder Robin Singh is likely to lead the second-string team for next month's Champions Trophy in Sri Lanka.
Apart from Robin Singh, 13 of the 25 probables drawn up by the national selection committee have confirmed participation for the tournament which has run into rough weather following the International Cricket Council's controversial sponsorship policy.
While four players from Tamil Nadu --Robin Singh, Sadagopan Ramesh, Hemang Badani and L Balaji have already confirmed, ten players from other states have given their verbal consent to take part in the Colombo meet, Board sources
here said.
The Cricket Board, which has withheld announcement of the list fearing pressure from senior players, had asked the respective associations to get the confirmation of the selected probables. "Only after the probables confirmed their avaibility, the contract forms would be sent to them", the sources said.
The list of probables: S Ramesh, Gautam Gambhir, Gagan Khoda, Daniel Manohar, Connor Williams, Hemang Badani, Rohan Gavaskar, Jacob Martin, Hrishikesh Kanitkar, Reetinder Singh Sodhi, J P Yadav, Vijay Bharadwaj, Rakesh Patel, Sarandeep Singh, Murali Karthik, Ramesh Powar, Sairaj Bahutule, Javagal Srinath, Venkatesh Prasad, Robin Singh, Irfan Pathan, L Balaji, Debashish Mohanty, Deep Dasgupta and MSK Prasad.
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Sensex: 3080.70, -3.68
The sensex closed at 3080.70, down 3.68
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