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If deal fails during Bush admn, uncertainty will rise: Saran
New Delhi, May 6 (PTI) Pressing for completion of the Indo-US nuclear deal during the tenure of President George W Bush, Prime Minister's Special Envoy on Nuclear Deal Shyam Saran today said "political uncertainty" over the agreement could increase if the government in Washington changes.
He said the Left parties had raised "valid questions" on the "nature of obligations of India and the obligations of the US" under the agreement and the government was trying to address the allies' reservations while stressing on advantages of going ahead with the deal.
"This government has a commitment to the agreement and every effort possible will be made to see the deal through," the former Foreign Secretary, who has been India's key interlocutor on the deal, said while interacting with members of the Women's Press Corps here.
Asked about the prospects of the deal if it fails to go through during the tenure of Bush administration, he said "Obviously, the sooner we have the deal, the better. As the process continues, the world is not standing still. The level of political uncertainty will increase. Therefore, it is in our interest to get it through sooner than later." Saran noted that there are "certain political realities on the ground" here and also on the US side.
Underlining that it was "not a matter of going this far and leaving it unfinished," he said the nuclear deal is a joint enterprise between India and the US and therefore "we have to work together to make it a practical reality." PTI
BJP slams sine die adjournment of Rajya Sabha
New Delhi, May 6 (PTI) BJP today strongly resented the abrupt curtailment of the Rajya Sabha session, saying the sine die adjournment of the Upper House skipping discussion on a key labour Bill would send a wrong message.
"It is undemocratic and is bound to send a wrong message," senior BJP leader Sushma Swaraj said soon after the House was adjourned sine die amidst high drama over introduction of the Women's Reservation Bill.
She said adjourning the House without any proper reason and avoiding discussion on the much-delayed Unorganised Sector Workers' Social Security Bill would not augur well for democracy.
"The bill for providing a social security net for unorganised sector figured in today's list of business but despite that the Government decided to adjourn the House sine die," she told reporters here.
She said her party had voiced its opposition in the morning meeting of leaders of various parties to adjournment of the Upper House sine die without discussing the Bill, which has been hanging fire for nearly four years.
Swaraj also expressed disappointment over the way the Upper House had to be adjourned without the Chairman's customary concluding address. "It is unfortunate. Concluding speech is a tradition of the Rajya Sabha," she said. PTI
FB Rajya Sabha member resigns to make way for CPI
New Delhi, May 6 (PTI) Forward Bloc Rajya Sabha member Barun Mukherjee today resigned from the House following a decision of the Left Front in West Bengal to give the seat to CPI.
CPI is not represented in Rajya Sabha, while Forward Bloc General Secretary Debabrata Biswas was re-elected to the House in the bye-elections in March this year.
"I personally met the Chairman (Vice President Hamid Ansari) and handed him over the letter. It was decided by the Left Front earlier that I should step down to make room for CPI," Mukherjee told PTI here.
With this resignation, Forward Bloc has set a precedent by deciding to call back Mukherjee from the Rajya Sabha, four years before his term ended.
Asked about the decision, Mukherjee said several Left leaders met him in Delhi and expressed regrets. "I have been in Forward Bloc for 50 years and if the party has agreed to the decision, I have to go by that." However, he added that "the question of political propriety" of the decision remained as a sitting member of a party had to quit before the end of the tenure to make way for another Left Front partner.
Earlier, the party's state unit secretary Ashok Ghosh had described the Left Front decision as "a loss of face" for the Forward Bloc. PTI
Nanavati shocked by footage of Bhajji-Sreesanth slapgate
Mumbai, May 6 (PTI) BCCI-appointed Commissioner Sudhir Nanavati, investigating the slapping row between Harbhajan Singh and S Sreesanth, today said he was left stunned after seeing the video footage of the incident.
"What I saw was shocking but it has made my job easier. It will also help me in my further investigation," he told reporters after viewing the footage of the incident, that took place after an Indian Premier League match between Mumbai Indians and Kings XI Punjab on April 25.
Nanavati saw the footage at the BCCI headquarters here with IPL Chairman and Commissioner Lalit Modi, Board Secretary Niranjan Shah and Joint Secretary M P Pandove.
The Ahmedabad lawyer will submit his inquiry report on the matter to Board President Sharad Pawar on Monday.
Nanavati took the statement of match referee Farokh Engineer and will also speak to Mumbai Indians coach Lalchand Rajput, who was allegedly standing behind Harbhajan when he slapped Sreesanth after the match.
He has already spoken to umpire Amish Saheba, who was suspended for a match after criticising Sreesanth's behaviour in an interview. Saheba had, however, denied making any statement against Sreesanth.
With this, Nanavati is expecting to wrap up the investigation by Sunday and send his findings to the BCCI chief on Monday. PTI
Stressed out Tait recovering, aiming comeback next season
Melbourne, May 6 (PTI) Barely four months after quitting cricket citing "mental and physical exhaustion", Australian pacer Shaun Tait said he has started recovering from the stress and is working towards a comeback next season.
The slinger, who "hated cricket" at the time of taking the break, said he was beginning to remotivate himself.
"I am starting to think about cricket again, which I didn't do at all after I made the decision," Tait was quoted as saying by 'The Sydney Morning Herald'.
"It would be pretty safe to say I will be around the traps next season," the 25-year-old added.
Tait had quit the game in the middle of the Test series against India in January after coming a cropper at the fastest track the world -- the WACA in Perth.
But he has been backed to the hilt by Cricket Australia which retained him in the list of centrally contracted players besides assisting him in his rehabilitation.
The pacer is currently training with the squad selected for the tour of West Indies starting with a Test series on May 22. PTI
Harshal wins national under-9 chess title
New Delhi, May 6 (PTI) Local favourite and Commonwealth silver medalist Harshal Shahi of Modern School won the National Under-9 Open title by defeating Jerome Jorge Ebenezer of Tamil Nadu in the 11th and final round of the competition here today.
Harshal notched up a brilliant 10 points out of possible 11 at the Bapu Samaj Sewa Kendra.
Among girls, Commonwealth Under-10 Gold Medalist C H Meghna of Kerala, seeded seed here, drew her last round game against Niveditha K of Tamilnadu to finish with nine points and the title.
Harshal needed just a draw to secure the title but he turned down Jerome's offer to sign peace pact in the early stages of the game and went on to wrap up the tournament in style with a resounding 32-move victory in Guico Piano Opening.
Jeet Jain and Hetul Shah both from Gujarat finished second and third respectively. Jeet shocked top seed Arjun Bharat of Karnataka while second seed Hetual had to be satisfied with a draw against Dhonnar Nachiket of Maharashtra in the final round game.
In the girls section, Meghna played it safe and accepted the draw offer made by Niveditha after 47 moves and tied for the pole position along with World Under-8 champion Ivana Maria Furtado of Goa with nine points.
Ivana beat state mate Savant Riya in the final round but she had to be content with the runner up spot as Meghna had a better progressive score than her. Shiny Das of Tripura finished third with eight points. PTI
Resurgent Mumbai looks to halt Rajasthan juggernaut
S S Ramaswamy
Mumbai, May 6 (PTI) The dramatic turnaround in their fortunes notwithstanding, Mumbai Indians have a tough task in hand to stop the relentless march of Rajasthan Royals when the two teams cross swords in their Indian Premier League tie at the D Y Patil Stadium tomorrow.
The home team, which is likely to miss the services of injured icon player and captain Sachin Tendulkar for their seventh match running, have turned the corner with superb victories over Kolkata Knight Riders and Delhi Daredevils.
But the Mumbai outfit, sixth in the table going into their needle clash under lights, have a tough task at hand now as it aims to halt the relentless progress of the Shane Warne-led and coached Jaipur franchise, which has surprised one and all with their brilliant performance after their only loss in the lung opener to Delhi.
First and foremost, the Mumbai Indians' batsmen need to convert their starts into big innings, as conceded by their veteran opener Sanath Jayasuriya yesterday who said that in a Twenty20 game at least one batsman in the top order needs to bat up to the 15th over.
A fascinating contest could evolve between Jayasuriya and the great Warne in the middle overs.
For this to happen the Mumbai top order needs to take head-on, Pakistani Sohail Tanvir, who had a sensational 6-14 haul that floored Chennai Super Kings at the Sawai Man Singh Stadium two nights ago, and the likes of Munaf Patel and Siddharth Trivedi.
The confrontation between the Marauder from Matara and the spin wizard from Oz should whet the appetite of the large crowd of over 50,000 that regularly assembles at this venue on what is widely expected to be the last match here of the season. PTI
Economy poised to grow better than RBI projection
New Delhi, May 6 (PTI) Projecting a much better forecast than those made by the government and RBI, economic think tank NCAER today said the Indian economy could grow by up to 8.9 per cent during 2008-09, despite a global slowdown.
"While the GDP growth in the base case is projected to be 8.5 per cent, in the more comprehensive case, GDP growth is projected at 8.9 per cent," the latest quarterly review of the economy by NCAER said.
Last week, RBI had projected a GDP growth of 8-8.5 per cent this fiscal, assuming that global financial and commodity markets and real economy will be broadly aligned with the central scenario and normal monsoon conditions prevail.
The short-term prospects are less attractive than a year earlier despite the fundamentals of growth remaining intact, NCAER said.
Inflation, during the year, is likely to be in between 4.9 and 5.2 per cent against 4.4 per cent last year. At the same time, fiscal deficit is projected to be close to 3 per cent of GDP even under the higher growth scenario, it said.
As per the advance estimates for 2007-08, the country's economy expanded by 8.7 per cent.
The report said the sustainability of the growth momentum is clearly subject to overcoming the shocks and constraints along the way.
Pointing out the constraints, the report said the cyclical downturn in advanced economies and high commodity prices in international markets due to both short-term supply shortages as well as high growth in economic activity in the emerging economies could act as shocks. PTI
Markets close weak, Sensex down 118 points
Mumbai, May 6 (PTI) The markets ended in red for the second day today with the benchmark Sensex losing another 118 points on weak trends in European bourses amidst oil prices soaring to record levels, augmenting inflation fears.
The 30-share Sensex on the Bombay Stock Exchange ended the day at 17,373.01, a loss of 117.89 points, or 0.67 per cent, from its last close.
The index dipped to intra-day of low of 17,237.68 points before it recouped partly in the last thirty minutes.
The broader 50-share S&P CNX Nifty of the National Stock Exchange also fell by 47.60 points, or 0.92 per cent, to close at 5,144.65.
The European markets were trading in the red in their opening following reports that Swiss Bank UBS will make sizeable job cuts and had had a preliminary deal with a US-based asset manager to sell a 15 billion dollars portfolio of sub-prime mortages.
Asian indices, however, recovered their initial losses and ended in the black. Japanese markets were closed today.
Marketmen said investors looked uncomfortable with the inflation at 42-month high at 7.57 per cent and world oil prices hitting a new record at 120.30 dollars a barrel in Asian trade.
The market is dragged by negative global factors with the earnings season at home already completed, they added.
Among Sensex-relates stocks, Bharti Airtel which is talks for acquisition of South African telecom player closed the day lower at 5.29 per cent. Realty stock DLF at 5.26 per cent and Jaiprakash Associates 5.15 per cent followed Airtel.
Other blue-chip stocks SBI, Rel Com, L&T, BHEL and REL lost in the range of 1-5 per cent. PTI
Futures trade not feeding inflation: Ahluwalia
New Delhi, May 6 (PTI) The debate on contribution of futures trading to inflation gathered momentum, with Planning Commission Deputy Chairman Montek Singh Ahluwalia today saying such trading does not lead to higher prices of commodities.
Ahluwalia's comments came two days after Finance Minister P Chidambaram hinted at a ban on futures trading in food articles as part of efforts to contain rising prices.
"If rightly or wrongly, people perceive that commodity futures trading is contributing to a speculation- driven rise in prices, then in a democracy you will have to heed that voice," Chidambaram had said in Madrid, where he attended the Asian Development Bank's annual meeting.
Ahluwalia said the government can take some more measures to contain inflation in case prices do not soften in the coming days.
"We are not at all happy with the rate of inflation. It should come down. Government can take more measures if needed," he said at an event organised by Microsoft India.
Inflation touched a 42-month high of 7.57 per cent for the week ended April 19 as compared to 7.33 per cent in the previous week.
Ahluwalia, however, did not elaborate on specific measures that the government should take to contain inflation.
Bellying the expectation that steps taken to contain inflation would impact growth, Ahluwalia said the country is likely to record a growth of 8 per cent during the current fiscal.
According to the RBI annual credit policy, Indian economy would grow between 8-8.5 per cent during the current year. During 2007-08, the economy expanded by 8.7 per cent. PTI
Farmers seek ban on GM crops in India
New Delhi, May 6 (PTI) Farmers today demanded a complete ban on genetically modified (GM) crops and food in India saying it would not only affect humans and livestocks, but also soil and environment.
Protesting against GM crops in the national capital, farmers under the banner of 'Coalition for a GM-Free India' voiced against government's decision to allow field trials of bt brinjal in the country.
Addressing the farmers, senior BJP leader Murli Manohar Joshi said that GM crops are yet another attempt by corporates to take over Indian agriculture. He exhorted farmers to resist it forcefully.
Member secretary of the Coalition, Kavitha Kuruganti expressed similar views and said that allowing GM field trials shows lack of vision for Indian farming.
"The government should make it clear as to where does it intend to take the country's farming by promoting GM food and crops, which are harmful for one and all," she said.
On bt brinjal, farmers' representatives pointed out that entry of such vegetable in India would put an end to consumers choice of differentiating between normal and genetically modified brinjal, as there is lack of segregation and labeling facility in India.
They said the government should take a cue from the adverse impacts of bt cotton cultivation.
"Farmers who even touched the crop developed allergy while animals grazing on it died. The fate would be similar in case of any other GM crop and food," they said, adding that studies on GM food have found various adverse health results like stunted growth, impaired immune systems, bleeding stomach and reduced digestive enzymes among humans.
The farmers' call was also supported by cine stars Nafisa Ali and Milind Soman among others. PTI
Bombay HC orders status quo in RIL-RNRL gas supply dispute
Mumbai, May 6 (PTI) The restraint on Reliance Industries to sell natural gas from its eastern offshore KG-D6 field to third parties will continue till July 22, after the Bombay High Court today ordered status quo to be maintained in the case filed by Anil Ambani Group firm RNRL.
A Bombay High Court division bench fixed July 22 as the next date of hearing in the dispute over implementation of a gas supply agreement between Mukesh Ambani-led Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL).
The court had previously asked RIL not to enter into contracts to sell KG-D6 gas with companies other than RNRL and state-run NTPC and asked the two brothers to settle the dispute within four months. But the two sides failed to reach an agreement within the stipulated timeframe.
At the hearing today, RIL counsel Harish Salve argued that the earlier interim order, restraining RIL from selling gas to third party, had lapsed.
He said that RIL would start gas production from KG-D6 by end of July, and requested it be allowed to enter into contracts with third parties for sale of gas.
Drawing from the June 2005 family demerger agreement, RNRL claimed at least half of the 80 million standard cubic meters per day peak production planned from KG-D6 fields.
RNRL lawyer Ram Jethmalani strongly opposed Salve's plea, saying there was a strong possibility of appeals never getting disposed of if RIL was permitted to sign contracts.
Finally, the division bench of Justices J N Patel and V M Kanade said that status quo will be maintained till July 22. PTI
China evades queries on secret submarine base
Raghavendra
Beijing, May 6 (PTI) China today did not confirm or deny reports that it has secretly built a major underground nuclear submarine base but said its military build-up was not a threat to any country.
"We have a vast territorial sea. It is the sacred duty of the Chinese army to safeguard our security on sea, the sovereignty of our territorial sea and maritime rights and interests," Foreign Ministry spokesman Qin Gang told a bi-weekly media briefing.
Qin, who was asked about reports on the submarine base, Refrained from a direct reply but insited that "China follows the path of peaceful development and pursues a national defence policy which is defensive in nature. China will always be the backbone of world peace".
The base with a capacity to conceal 20 vessels posed a major threat to Asian countries and American interests in the region, British newspaper The Daily Telegraph said citing satellite imagery.
India has voiced its apprehensions over the build-up of Chinese submarines, with Naval Chief Admiral Suresh Mehta saying it was a "cause for security concern".
"It is not the nuclear submarine bases that matter, we are concerned over the number of nuclear submarines that are being built in our neighbourhood," he said.
When pointed out that the British government had expressed concern and asked if China had communicated anything to London or the Indian government on the base, Qin said, "I am not aware of the communication". PTI
Address "fundamental" issues of Tibetans: US tells China
Washington, May 6 (PTI) The dialogue between China and the representatives of the Dalai Lama should address some of the "fundamental" Tibetan concerns on freedom of religion and cultural values in the Himalayan region, the US has said.
Welcoming the resumption of dialogue between the two sides as the "best way" to resolve the Tibet issue, White House spokesman Scott Stanzel said the talks should address some of the fundamental Tibetan complaints about freedom of religion and cultural values.
"We believe that dialogue between the Chinese government and representatives of the Dalai Lama is the best way to address some of the fundamental issues in Tibet," Stanzel said while commenting on the latest round of talks.
"People in Tibet feel that they are unable to freely practice their religion, freely practice some of their cultural traditions and values, so we believe that talks to discuss those issues are a good step," he said.
US President George W. Bush was one of the world leaders who pressured China to restart negotiations to end the recent crisis in Tibet.
The Dalai Lama's envoys and Chinese officials met in the southern city of Shenzen on May 4 for the first time since the unrest erupted in Tibet in mid-March.
At the in-camera meeting, China did some tough talking asking the Dalai Lama to make "credible moves" to stop violence and not to "sabotage" the Beijing Olympics to create conditions for the next round of parleys.
China's state-run press reported earlier that the talks had ended with an agreement to meet again, although no date was set and no other major breakthrough was reported.
Talks have been described as a "good first step" by Lodi Gyari, one of the Dalai Lama's representatives, who said: "All very candid. We had very candid discussions." "It was a good first step," he said at the Hong Kong International Airport before returning to India. PTI
China refuses to set date, says onus on Dalai to sustain talks
Raghavendra
Beijing, May 6 (PTI) Refusing to set a date for the next round of parleys with the Dalai Lama's envoys, China today said the Sunday's meeting was only a "beginning" and insisted that the Tibetan leader should take "concrete actions" to create conditions for further talks.
In the first comments on the meeting between the two sides that lasted only a few hours, the Chinese Foreign Ministry said, "the central government's policy is consistent and clear cut. The door for dialogue is always open".
"I want to stress that the current contact is only a beginning," Foreign Ministry spokesman Qin Gang said at a regular bi-weekly media briefing.
At the meeting, the first since the unrest erupted in Tibet in March, Chinese officials talked about the riots in Lhasa and central government's policy towards the Dalai Lama and "we agreed to continue with the contact when appropriate", he said.
During the talks, officials had "clearly and comprehensively" expanded on China's position and "we believe that the Dalai's representatives have heard it very clearly", Qin said.
Describing the current contact as "sincere", Qin said, "so long as the Dalai side exerts sincerity especially in actions, then the contact will continue".
He hoped that the Tibetan leader "will mean his words and really stop separatist activities, stop provoking violent activities and stop disrupting the Beijing Olympics so as to create conditions for further contact".
Qin said central government officials also answered questions by the Dalai Lama's representatives "with patience and they also exchanged views on their contact".
He said representatives of the Dalai Lama also explained their position and said they would report about the meeting to him. PTI
Jindal says no possibility of running for vice-president
Washington, May 6 (PTI) Indian-American Governor of Louisiana Bobby Jindal said he did not expect to be asked to become the running mate of presumptive Republican presidential nominee John McCain, maintaining that he was quite content working to rebuild the Katrina-ravaged state.
The 36-year-old has found himself in the national spotlight after conservative talk show host Rush Limbaugh floated the idea of Jindal running for vice-president, going on to describe him as the next Ronald Reagan, the darling of the conservatives within the Grand Old Party.
"Let me be clear -- I do not think the senator is going to ask (to be his running mate)," Jindal said in an interview with Fox News yesterday.
"I am flattered that my name made the list, but we have important work to do," said Jindal, who took office as Governor of Louisiana in January.
"This is a once-in-a-lifetime opportunity for Louisiana to be built better than we were before the storms. This is where I want to be. This is where I think I was meant to be," he said.
Jindal is half the age of Senator McCain and political analysts have said that this ticket would take care of the age fears concerning the Arizona Senator who will be the oldest President to take office if elected.
The youngest was John Kennedy who was sworn in to the high office at the age of 43 and the oldest was Reagan who was 74 years old when he was sworn in for a second term in 1984. PTI
Detained ex-premier Khaleda Zia formally charged in graft case
Dhaka, May 6 (PTI) Bangladesh's Anti-Corruption Commission has, for the first time, formally pressed charges against detained former premier Khaleda Zia for allegedly contracting out several gas fields to a Canadian oil company in exchange of kickbacks, officials said here today.
The powerful ACC in emergency-ruled country accused Zia and 10 others of "corruption" and "abuse of power" in awarding a gas exploration and extraction deal to Niko Resources Ltd causing a loss of Rupees 8,233 crore (Taka 13,777 crore) to the state while her Bangladesh Nationalist Party ruled the country from 2001 to 2006.
Detained former law minister Moudud Ahmed and former state minister for energy AKM Mosharraf Hossain of Zia's BNP government were among the others charge-sheeted in the case lodged with a magistrate court late yesterday.
This is the first time formal charges have been laid against Zia since her arrest on September 3 last year as part of a massive anti-graft campaign being spearheaded by the current interim government since its installation with crucial military support on January 12, 2007.
Investigations against Zia, however, is underway in several other graft charges.
ACC in its chargesheet said the 11 accused, several of them already in jail in other graft cases, should be brought to trial as the charges against them "have been proved primarily".
ACC officials said they were expected to submit chargesheet today against Zia's arch-rival and Awami League chief Sheikh Hasina, another detained former premier and six others in a related case for promoting Niko Resources Limited through corruption while her government was in power from 1996 to 2001. PTI
Aamir tears his hamstring muscle on the sets of "Ghajini"
Mumbai, May 5 (PTI) Bollywood actor Aamir Khan has torn his hamstring muscle while shooting for the film "Ghajini" in Hyderabad on Sunday afternoon, a fortnight after suffering a similar injury there.
Aamir had pulled his hamstring while performing an action sequence on the sets of the film about two weeks back, after which he took rest for a couple of days before getting back to work.
According to sources close to the actor, Aamir did not want the shooting of 'Ghajini' to suffer because of his injury.
Everyone on the sets was against the actor pushing himself but Aamir was insistent that he should shoot close-ups shots. He spoke to director A R Murgadoss and decided to shoot close-up sequences which wouldn't aggravate his injury, sources said.
However, it was a bad idea as his muscle got further strained.
During a sequence of chase, Aamir's leg was in an awkward position and his hamstring muscle was torn. After the shot was okayed, he could not get up for almost 40 minutes. Initially, everyone on the sets thought Aamir was pulling a fast one but only when he started screaming in pain that everyone got into action, the sources said.
The physiotherapist was present on the set and he requested for a specialist to be called in. Aamir was taken to a local hospital.
The actor has been asked to take three weeks of complete bed rest and the shooting has been cancelled. PTI
Ireland vies to host IIFA awards in 2010
Prasun Sonwalkar
London, May 6 (PTI) After the 2007 International Indian Film Academy (IIFA) awards in Yorkshire proved a money-spinner for the region, the neighbouring Ireland is now vying to host the 2010 edition of the glittering high-profile ceremony.
A committee has been formed in Ireland to lobby and host the IIFA awards in 2010. Local officials hope the event will inject 20 million pounds into the local economy.
The glitz and glamour of Bollywood - including brand ambassador Amitabh Bachchan - had descended on the Yorkshire region in June 2007 for the widely televised awards.
Several events were held during the weekend in Sheffield, Leeds, Bradford and nearby areas, including a cricket match at Headingley.
Much to the delight of local tourism and trade officials, the 2007 IIFA awards generated a local spend of nearly eight million pounds.
A delegation from the IIFA has twice visited Ireland to meet government and tourism representatives.
A senior manager of Tourism Ireland, the official tourism body, will attend the 2008 IIFA awards ceremony in Bangkok next month, along with a delegate from the Department of Foreign Affairs.
A spokesman for Seamus Brennan, Irelands Minister for Arts, said there would be benefits to hosting the awards, particularly in terms of raising Ireland's profile in India and Asia. PTI
Pritish Nandy Comm inks deal with Sony Pic for film production
Mumbai, May 6 (PTI) Pritish Nandy Communications today said it has entered into an agreement with US-based Sony Pictures for co-production of three films.
Pritish Nandy Communications (PNC) has signed a deal with Sony Pictures for co-production of three films in India, the domestic film production firm said in a filing to the Bombay Stock Exchange.
"The co-production deal is a major breakthrough for Indian cinema and brings together Indian talent and international talent and studio expertise to exploit the global opportunities that exist for our kind of movies," PNC Chairman Pritish Nandy said.
Details of the films would be released subsequently, one of which 'Raghupati Raghav Raja Ram' is in the last stages of being finalised between the two production houses, the filing said.
PNC has a turnover of about Rs 42.5 crore and has been listed twice by Deloitte Touche among the fastest growing media companies in the Asia Pacific region.
Shares of PNC closed at Rs 58.40 at the BSE, up 9.98 per cent from the previous close.
SC notice to Sridevi, cheque bounce case
New Delhi, May 5 (PTI) The Supreme Court today issued notice to actress Sridevi and Maharashtra Government on a petition filed by film financiers alleging that Rs 10 crore cheques issued by her had bounced.
A bench headed by Chief Justice K G Balakrishnan sought responses from the actress and the state government on the petition filed by Mumbai-based raw photo film suppliers and financiers - G G Photo Ltd, Photo Film Industries and Foto Industries.
They had approached the apex court challenging a Bombay High Court order that stayed criminal proceeding initiated against Sridevi in the case.
Madhu Gupta and Sushil Gupta, the owners of the three firms, alleged that the three cheques issued by the actress against a loan for production of films bounced due to insufficient funds in her account in Vijaya Bank, Santacruz branch.
"The accused in the course of her business under different banners availed financial assistance and credit facilities from the petitioner. The accused to discharge her legally enforceable liability gave these cheques and all the three cheques were returned due to insufficient funds," the petition filed through K K Mani stated.
The court of Kurla Metropolitan Magistrate, on a criminal complaint filed by Guptas, had issued summons against the actress under Section 138 of the Negotiable Instruments Act. PTI
After singing, Shibani gears up for acting
Sabi Hussain
New Delhi, May 6 (PTI) After Himesh Reshamiya and Sonu Nigam, Shibani Kashyap of "Ho gayi Hai Mohabbat Tumse" fame is gearing up for acting in movies.
"I am really thinking seriously towards it as few filmmakers have approached me. It totally depends on the good script," she says.
"I am ready to perform roles and if something fruitful lands in my kitty, I am open to it," she says.
Shibani, who shot to fame by singing signature tune of AIR FM channel of All India Radio and Amul India is also planning to launch yet another music album after the success of albums 'Nazakat' and 'Hakim Tara Chand'.
"My new album on which I am working quite hard is going to be very philosophical. It will reflect my own personal feelings." Shibani, who has sung and composed the title track of the recent release 'Sirf' starring Kay Kay Menon and Manisha Koirala, says it was a wonderful experience lending music for the film and it feels great when people appreciate your efforts.
"It was a romantic composition, which makes you think about our fast paced life in which we are living with less time for your loved ones," she says.
"Listeners are really enjoying the track as I have received lot of praise for that." PTI
Diagnostic clinical research outsourcing market
Ashwini Shrivastava
New Delhi, May 5 (PTI) After business, knowledge and legal process outsourcing, the Indian industries are now eyeing 'diagnostics jobs' outsourcing from other countries.
According to industry experts, a number of hospitals in the US and Europe are outsourcing laboratory and diagnostic tests to India as it helps in saving cost and money while maintaining quality.
The Indian diagnostics and pathology laboratory business is around USD 864 million and is growing at a rate of 20 per cent annually, they say.
Accordng to FICCI, the size of the global clinical trials market was nearly USD 10 billion and predicted to have touched by USD 26 billion by 2007 "Diagnostics and lab testing outsourcing is certainly the most potential business domain. We are trying to tap available opportunities in it," says Dr G S K Velu, Managing Director, Metropolis Health Services India Ltd.
"There is an excellent outsourcing opportunity to test around one million samples a year," he says.
The other emerging sector --Clinical Research Outsourcing (CRO) -- is also witnessing surge in the country. The drug manufacturing units are outsourcing different phases relating to development of medicine to India.
In the case of diagnostics, X-rays and other procedures are done abroad and the reports by experts are written here and sent back, while in the case of lab tests,the photomicrographs are electronically sent here and the doctors send back the results, says Velu. PTI
Couples from UK, Afghanistan look to India for sperm donors
Kamal Narayan
New Delhi, May 4 (PTI) Unable to conceive but longing for their own baby, couples from Britain, Afghanistan and other countries are now turning to India, seeking a sperm donor.
India, being the only country in South Asia, with semen banks and a large number of willing donors, has become a hot spot for artificial insemination.
Experts feel that opposed to the adverse legal and social scenario in other countries, India where 'donor sperms' are easily available is growing as a prime destination for treating this condition.
"There has been an acute shortage of donor sperm of ethnic Indian origin in the United Kingdom and this has led to a dramatic jump in couples coming here from UK for artificial insemination," says Dr Shivani Sachdev Gour, consultant Fertility specialist in the capital's Fortis Hospital.
On an average 45-50 such couples from London visit her clinic annually to avail this service.
In UK, for example there is a shortage of semen donors, because it has become mandatory for donors to now disclose their identity, says Sachdev.
Similarly, many come to India from neighbouring countries in quest of semen donors.
Dr Iqbal Mehdi, Head of Department, Cryogene Lab Pvt Ltd, the oldest sperm bank in country, says, "A large number of couples from Afghanistan, Bangladesh and Sri Lanka visit our lab seeking donated semen." According to Dr Mehdi, his bank get maximum clients from Afghanistan, which is almost 25 per cent of total visitors, followed by Dubai (10 per cent).
Besides, people from Saudi Arabia, Pakistan, Uzbekistan, Srilanka, Bangladesh and Nepal, also visit his lab, says Dr Mehdi. PTI
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Sensex: 17373.01, -117.89
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