[Grapevine] For 24 Dec, 2007

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______News_______

(From various agencies)

• Modi says he is not bigger than party
• CBI files charge sheets against Ketan Parekh, ex-GTB officials
• UNPA to make agriculture as main poll plank for Lok Sabha polls
• 30 Killed in Sri Lanka clashes
• Malaysia launches plan to protect Hindu temples
• India offers scholarships to Sri Lankan students
• Govt nod for 19 FDI proposals; GBN to sell 26 pc stake
• India scraps wheat tender; not to import more this year
• Check credentials before investing in IPOs: Govt
• Sania sets her eyes on Australian Open
• Clarke looking to attack Kumble at first opportunity
• Prakash Amritraj, Vishnu Varadhan get wildcards for main round
• Malik poor captain, give it to Yousuf: Shabbir
• Guj election was fought almost like a General election
• Big budgeted multi-star flicks dominate Bollywood in 2007

  Modi says he is not bigger than party  

 Gandhinagar, Dec 24 (PTI) A triumphant Narendra Modi today sought to play down his larger-than-life image and said he was not not "bigger" than BJP, his "mother".
 A day after his sweeping win in the Gujarat Assembly elections, an emotion-charged Modi took on the "perverted mindset" of the media which had portrayed him as bigger than the party in remarks which would be reassuring to those in the top echelons of his party wary of his triumph.

 "Those who say Modi is bigger than the party do not know what the history of BJP and Jan Sangh is. The son cannot ever be bigger than a mother," he said in his speech after his election as the leader of the BJP Legislature Party leader that will enable him become Chief Minister for a third term.

 The 57-year-old former RSS pracharak, who virtually ran the election campaign single-handedly, had tears in his eyes and was overcome by emotion when he hit out at the media for its predictions and for projecting him as bigger than the organisation.

 "It is "vikrut manssikta" (perverted mindset) to say that Modi is bigger than the party", he said.

 "In the days of Jan Sangh, candidates of the party used to lose their deposits in most of the elections. At that time, many dedicated workers and families sincerely worked for the party.

 "My image appears to be bigger because of the limitation of your lenses which stop at me. But if you were to widen your focus, you could see thousands of BJP workers who have lifted me up on their shoulders," Modi said, taking a dig at the media which has been  projecting him as bigger than the party.

 "The leading media had no inclination about the outcome of the Gujarat elections, prompting them to rely on `satta bazaar' (betting)", he said PTI  



  CBI files charge sheets against Ketan Parekh, ex-GTB officials  

 New Delhi, Dec 24 (PTI) The CBI has filed three charge sheets against stock broker Ketan Parekh and six others including former top executives of Global Trust Bank for allegedly entering into a criminal conspiracy and swindling public money to the tune of Rs 250 crore.
 The CBI filed the charge sheets against Parekh, Darmesh Doshi, Jatin S, Kirti Parekh, Kartik Parekh (all directors of companies held by Ketan) and Chairman of Singapore-based Brentfield Holdings T L Chandran.

 Ramesh Gelli, the former Chairman and Managing Director of GTB, which has now merged with Oriental Bank of Commerce, and its Executive Director Sridhar Subasiri were also named in the charge sheet filed under various sections of Indian Penal Code and Prevention of Corruption Act at a Mumbai court, CBI sources said here today. The two together held 40 per cent of total shares of GTB.

 According to the CBI charge sheet, GTB bank officials allegedly entered into a conspiracy with Parekh and his associates by giving him temporary overdraft facility worth Rs 250 crore without either seeking an application or collaterals or ascertaining the genuineness of "pay-in" requirements.

 Under the "pay-in" requirements, banks give overdraft facility to registered brokers whose money is expected to come from customers who have been sold shares.

 Part of these funds were used by Gelli and Subasiri to increase their stake in GTB by purchasing shares from foreign promoters. The CBI alleged that the money was also used for manipulation of the stock market by Parekh.

 The second charge sheet pertains to the violation of Reserve Bank of India's "Group Exposure norm", whereby no individual or a company is given more than 50 per cent of bank's capital for overdraft facility. PTI  



  UNPA to make agriculture as main poll plank for Lok Sabha polls  

     Hyderabad, Dec 24 (PTI) Seeking to make agriculture as the main poll plank in the run up to the 2009 Lok Sabha polls, the United National Progressive Alliance (UNPA) today said it will hold farmers' conventions at three important cities in the country.

The meetings would be held at Jaipur on January 21, Mumbai (Feb 3) and Ranchi on February 6, Telugu Desam parliamentary party leader K Yerran Naidu told reporters after a meeting of the party's politburo here. The meetings follow a massive farmers' rally organised by UNPA in Vijayawada last month where the front decided to launch a nation-wide movement to highlight farmers' problems. The conglomeration of regional parties also held a meeting with experts in New Delhi recently on issues relating to agriculture. The politburo meeting, chaired by party chief Chandrababu Naidu, felt that the UNPA had succeeded in bringing the farmers issues to the centre stage of national politics and forced the other parties to talk about agriculture. Referring to Prime Minister Manmohan Singh's recent remarks regarding impending food crisis and the need for giving low interest loans to farmers, Naidu said, "we have set the agenda". The TDP which has been making a string of promises to woo farmers said it would constitute a state-level commission on agricultural prices if voted to power in the next elections. PTI

30 Killed in Sri Lanka clashes
T V Sriram Colombo, Dec 24 (PTI) Heavy gunbattle between Sri Lankan troops and Tamil Tiger rebels left 28 militants and two security personnel dead in the island nation's embattled north, the Defence Ministry said today. While three militants were killed in Kaduruvittankulam during clashes, four rebels were gunned down in Kallikulam in Vavuniya yesterday, it said. A soldier was injured during a confrontation with militants at Thampane in Vavuniya. In a clash at Villanthikulam, three militants were killed and seven other injured, it said, adding one army personnel was killed and nine others sustained injuries in the incident. One militant was killed in Jaffna when troops launched an attack in Muhamalai last morning, it said. In North-western Mannar eight LTTE militants were gunned down in a confrontation with troops yesterday, the defence ministry reported. Of it five were killed in Narikkulam area, it said, adding the rest were gunned down in Palaikuli and Tettakuli areas on Mannar. One soldier also lost his life in the incident. One soldier was reported injured during a confrontation in Thampane in Vavuniya district. PTI

Malaysia launches plan to protect Hindu temples
Jaishree Balasubramanian Kuala Lumpur, Dec 24 (PTI) Unveiling a major plan to protect temples in this Muslim-majority nation, Malaysia today said no Hindu shrine, either legal or illegally built, will be demolished in the future without a "thorough check." The "new approach" of the Malaysian government on this sensitive matter came in an apparent attempt to assuage the feelings of ethnic Indians protesting against alleged marginalisation and demolition of their places of worship. Prime Minister Abdullah Badawi has asked Works Minister Samy Vellu, the President of Malaysian Indian Congress (MIC), to continuously monitor all Hindu shrines and submit a report on the status of the temples to the cabinet periodically. Vellu said he was specifically asked to forward to the premier and the cabinet the list of temples that may have to be demolished for various reasons. "No temples, either legal or illegally built, will be demolished without a thorough check and discussions with the MIC," Vellu, whose party is a cosntituent of the ruling coalition, said in a statement today. "As temples are sensitive matters, a new approach is necessary to resolve them and the MIC will take over this task completely," Vellu said. The Minister said he would travel to all the states soon to prepare a report on the number of temples in the country and their problems, which will be submitted to the cabinet. "We will identify the illegally-built temples first and check on their status. We want to know if there have been any moves or notices to demolish or relocate them," he said. He said he would scrutinise all matters concerning temples with a view to ensure that no Hindu shrines were demolished in the future and if they had to be brought down then suitable alternative sites were allocated first. PTI

India offers scholarships to Sri Lankan students
Colombo, Dec 24 (PTI) India is providing scholarships to students from Sri Lanka to study in various universities in the country. The Indian High Commission in Colombo has offered 40 scholarships to Sri Lankan students to follow undergraduate courses in various universities in India during the forthcoming session. Besides a monthly sustenance allowance, all scholarships cover full tuition fees for the entire duration of the course. It also covers accommodation allowance and an annual grant for books and stationery. Besides, all scholars are provided with health care facilities, first class train fare and an annual grant for educational tours to various parts of the country, a high commission statement here said, adding the last date for applying was January 10, 2008. PTI

Govt nod for 19 FDI proposals; GBN to sell 26 pc stake
New Delhi, Dec 24 (PTI) The government today gave its approval for 19 foreign direct investment proposals amounting to Rs 726.88 crore, which include Global Broadcast News Ltd's proposal to sell 26 per cent stake for Rs 500 crore. GBN is a part of media group Network 18. The proposal of Cyprus-based Dunbay to acquire additional 5 per cent stake in Delhi Stock Exchange for Rs 10.61 crore has also been approved. "The Finance Minister approved 19 FDI proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held on December 14," said a Finance Ministry statement here. GBN has proposed to induct up to 26 per cent FDI worth Rs 500 crore, including investment by foreign institutional investors (FIIs). The broadcaster, which runs English news channel CNN-IBN, had raised around Rs 105 crore from the capital market with an initial public offer (IPO) early this year. The company has also announced to set up a joint venture with Jagran Group to bring out a business newspaper in Hindi language. The government also gave its approval to the UK based- Middlebrough Oils to invest Rs 200 crore to set up a subsidiary to undertake extraction of crude Jatropha oil from Jatropha seeds. Daimler Chrysler of Germany has also been allowed to set up a joint venture company to undertake body building of buses. PTI

India scraps wheat tender; not to import more this year
New Delhi, Dec 24 (PTI) Government today scrapped a tender to import wheat citing high prices and said it will not undertake more purchases of the grain from overseas market this season as the current buffer stock is comfortable. "We have scrapped the tender. Prices were high," Commerce Secretary G K Pillai said. The State Trading Corporation, which is importing wheat on behalf of the government, on December 10 floated a tender to import wheat. The corporation received three bids from global suppliers in the range of 459.9-579.6 dollars per ton for supply of about 3.15 lakh tons. Swiss firm Glencore, US trading company Cargill and Germany's Toepfer submitted bids in a range of 459.9 dollars to a record of 579.6 dollars per ton for supply of about 3.15 lakh tons, trade sources had said. When asked whether government plans to float more tenders to import five lakh quantity left out of the planned 10 lakh tons, Pillai said: "We will not import more wheat this year. We have reasonable amount of buffer stock of wheat now." The stock position of wheat with the Food Corporation of India as on today stands at 76.64 lakh tons, while the buffer norms stipulate a stock of 82 lakh tons as on January 1, 2008. The Commerce Ministry had earlier this month allowed PEC Ltd to import 1.5 lakh tons of wheat at 396.9 dollars per ton. On November 23, MMTC Ltd decided to buy 3.425 lakh tons at an average price of 400.19 dollars a ton. Australia-based J K International would supply wheat to PEC, while Cargill and Glencore would supply to MMTC. The government has decided to import 23 lakh tons of the grain during 2007-08. Before this STC tender, orders had been placed for import of 17.985 lakh tons by STC, MMTC and PEC. PTI

Check credentials before investing in IPOs: Govt
New Delhi, Dec 24 (PTI) The government today cautioned small investors against misleading advertisements of companies looking to tap the capital market and advised them to verify their credentials before putting in their money. The Ministry of Corporate Affairs has, in fact, offered its services to investors for helping them check the promoters' track record and regulatory compliances, among others. The caution came in a public interest advertisement in leading newspapers today and assumes significance in the wake of over 50 IPOs awaiting regulatory clearances. The initiative of the Corporate Affairs Ministry is on the lines of alerts issued by the Bombay Stock Exchange and National Stock Exchange, which had categorically said: "Do not get swayed by promises of high returns. Verify the tall claims made in advertisements." The information needed to make an informed decision for IPO investments is available with the ministry on its website as also on other investor-focused government websites. The ministry said information like master data of companies, details on directors and documents like annual returns and balance sheets as well as a list of those that had duped investors are available on its website. It said that in order to get an overview of the company, investors should compare the financial results and performance of the company over the last 3-5 years. PTI

Sania sets her eyes on Australian Open
Mumbai, Dec 24 (PTI) After a breakthrough year which gave her a career-best ranking, Sania Mirza today said she would start her new season with the belief that she can upset the top players, including World No 1 Justin Henin. Sania said she has recovered from her injuries and raring to go all out at the season's first Grand Slam --Australian Open, where she is eyeing an upset. "I feel fit right now and is good to start off the year without any injury. Many players, playing the Australian Open (next month) start off after a long break and this is the place where one can expect the most number of upsets," Sania said here today. Sania said her win over Martina Hingis has boosted her confidence to take on the best and she even fancy her chances against current world number 1 Justin Henin of Belgium. "If I have a choice I'll beat Henin. After defeating Martina (Hingis, at Los Angeles) you feel that you can beat the best in the game," she said after signing a contract with sports goods major Adidas. Having missed the action for two months due to a knee injury this year, Sania said her priority in the new season would be to stay fit. "My first goal is to remain injury-free throughout the season and avoid getting involved in any freak accidents. I feel fit right now and is good to start off the year without an injury," said Sania who reached a career high of 27 this year. PTI

Clarke looking to attack Kumble at first opportunity
Ashish Shukla Melbourne, Dec 24 (PTI) Fast approaching 600 Test wickets, skipper Anil Kumble will be the lynchpin of the Indian bowling in the upcoming Test series, but middle-order batsman Michael Clarke is looking to attack the veteran leg-spinner at the first opportunity. The New South Wales youngster said he would use his quick footwork to negate Kumble's accuracy. "Kumble has been a great one for a long time. His line of attack implies that you have to be patient against him. "But I will try to put the pressure back on him. I'll have to move my feet and play my natural game," Clarke said ahead of the four-Test series starting on Wednesday at the MCG. Much has been said about India's inexperienced bowling but Clarke felt that left-arm paceman Zaheer Khan, along with Kumble, were part of a potent attack which could capitalise on the conditions. "I wouldn't say it's an inexperienced attack. Zaheer certainly has some experience and if they bowl well, they'll get the opportunity to take wickets. The conditions will suit India here, with it being a little bit slower," he said. But the right-hander had no doubt that the batsmen from both sides will hold the key to the series. PTI

Prakash Amritraj, Vishnu Varadhan get wildcards for main round
Chennai, Dec 24 (PTI) Prakash Amritraj, ranked 269 in the world, has got a wildcard to the ATP Chennai Open for the sixth year in succession, along with compatriot Vishnu Varadhan (ranked 944). Thirteen-year-old tennis prodigy Yuki Bhambri of Delhi, who distinguished himself as number one (U-16) and three (U-18) in the AITA ranking list, has been extended a wildcard in the qualifying event of the championship slated for December 29 and 30 with the main event starting on New Year's Eve. IMG, owners and organisers of the championship sponsored by a consortium of Indian companies, has given the third main draw wild card to Spaniard Bartolome Salva Vidal for the second successive year. Vidal played a tough first round match against Austria's Stefan Koubek stretching him to three sets last year. Thanking IMG for the opportunity to play in an ATP international series, Bhambri, ranked 1469 in world, said he was thrilled at the prospect. "I will contine to play each game with enthusiasm and determination and look forward to the challenges that await me," he said. PTI

Malik poor captain, give it to Yousuf: Shabbir
Karachi, Dec 24 (PTI) Shoaib Malik is just an average Test player and instead of him, Pakistan should have handed over the captaincy to Mohammad Yousuf, feels pace discard Shabbir Ahmed.

On his return from India after playing in the rebel Indian Cricket League (ICL) there, Shabbir lashed out at Malik and questioned his acceptability to the senior members in the side. "Malik was never a good Test player and to make him captain in the presence of more senior players is a decision beyond me," Shabbir said. He also blamed Malik for the both Test and ODI series defeat in India. "If the board wants to save the team from more defeats, it should make Mohammad Yousuf the captain," Shabbir said. Shabbir last played for Pakistan early this year in South Africa before being injured but made a lasting impression in the ICL Twenty20 tournament, taking four wickets in the final. The lanky pacer, who appeared in 10 Tests during which he was thrice reported for a suspect bowling action, claimed he had been stopped from playing domestic cricket by the board. PTI

Guj election was fought almost like a General election
Snehesh Alex Philip Ahmedabad, Dec 23 (PTI) The Gujarat Assembly election 2007 was fought almost like a General Election with mostly all national leaders camping in the state to address rallies, mobilise party cadres and even to organise road shows. "This election was the most keenly fought election among all the Assembly elections in the last decade and half. Not only our country but even many other countries have been keenly following the trends in this election," a senior BJP leader told PTI. The Gujarat election is been looked at by many as a referendum for the national politics with the speculation of General Election taking place much before the stipulated time doing rounds. The BJP, to ensure a win had even dropped a large number of the sitting MLAs while the Congress took a considerable amount of time to come out with its list of candidates, he said. The importance of the election can be gauged from the fact that Congress Chairperson Sonia Gandhi and her son Rahul Gandhi spent considerable time in the state addressing rallies to organsing road shows. BJP's PM candidate L K Advani too chipped in. While the main campaigner for BJP was Narendra Modi himself, even former Prime Minister Atal Bihari Vajpayee who had stayed away from active campaigning citing health reasons at the last moment also appealed to the public to vote for BJP through an ad released by the party. PTI

Big budgeted multi-star flicks dominate Bollywood in 2007
Shambhu Sahu New Delhi, Dec 22 (PTI) The year 2007 can easily be compared to an over-budgeted multi-starrer masala flick with additional glam and spice. However, it should perhaps be best remembered for the grand promotions with lots of hype, shocking box-office disasters, emergence of sports as a new success-mantra and an encouraging increase in children's films, besides the usual blockbusters, star break-ups and link-ups, and controversies. We can safely start with the most noted Battle Royale between Shah Rukh Khan's 'Om Shanti Om' and Sanjay Leela Bhansali's 'Saawariya.' While the films battled each other at the ticket window, the superstar actor and critically acclaimed director of his times fought it out off-screen. With the promotion costs of both films breaking all the records, this sure has been the most aggressive marketing battle ever in the Bollwyood. Irrespective of who won and who lost, the fight has sure given us all a hint at how cruel the fights would be off and on screen. Meanwhile, it is 'OSO' that's apparently having the last laugh at the Box Office. But till the film breaks all the revenue records in the coming weeks, it is yet another SRK starrer Shimit Amin-directed 'Chak De! India' that tops the list of the year's blockbusters. It is followed by Mani Ratnam's 'Guru, David Dhawan's 'Partner,' Sajid Nadiayadwala's 'Heyy Babyy,' Priyadarshan's 'Bhool Bhulaiya.' Among other successful films include 'Dhamaal,' 'Life in a Metro,' 'Shootout at Lokhandwala,' 'Namastey London,' 'Aap Ka Surroor' The movies and others. Here Sagar Bellary's 'Bheja Fry' needs a special mention. Just like last year's 'Khosla Ka Khosla' this film was the underdog of the year. Made at a budget of about 50 lakhs the film went and made over six crores! PTI

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