Economy to grow by around 7 pc in FY'09, hopes FM

NEW DELHI: Revival in steel and cement sectors and ample funds available with states for spending on Saturday gave the centre the confidence that the country will grow by around 7 per cent in the current fiscal.

For the first nine months of this fiscal, the economy grew by 6.9 per cent and the government's advance estimates pegged the growth at 7.1 per cent for the entire 2008-09.

Replying to a question on economic growth, Mukherjee said, "All these are estimates and of course between 6.9 and 7.1 (there is) not much difference, but I do hope when the final figures come out it would be around seven per cent."

The economy grew by 5.3 per cent in the third quarter of current fiscal.

To a query whether market is losing confidence due to slackening growth, he said, "I don't agree with your (interviewer's) contention." He said exact numbers could be known only after it becomes clear how will economy respond to stimulus packages.

"All these things...have to be seen for example slow revival of steel and cement industry has started, housing industry have been made adequate allocations, states have been provided funds, they themselves have good cash reserves of about Rs 91,000 crore, quite a few of them would like to spend a substantial quantum of money this year... all this would be available after March 31," he added.

Soruce:http://timesofindia.indiatimes.com/Business/Economy-to-grow-by-around-7-in-09/articleshow/4203968.cms

India rubbishes Pak navy's claims on sea route

NEW DELHI: India on Friday rubbished Pakistan navy's claims that Ajmal Kasab and other terrorists didn't use sea route to reach Mumbai.

Home Minister P Chidambaram took a dig at Pakistan on Friday for its flip-flops on Mumbai terror attacks.

"New Delhi is very clear regarding where the attackers came from,” Minister of State for External Affairs Anand Sharma said.

“Several countries too have supported our findings on 26/11 probe. Pakistan government too had accepted them. Now their navy is belying its own government’s claims,” Sharma added.

Meanwhile, Indian naval forces told Times Now, "We have enough proof of the fact that the terrorists came from Pakistan via sea. We have their boats and satellite phones."

Earlier, in a stunning denial Pakistan navy on Friday claimed that Ajmal Kasab, the lone surviving terrorist of the Mumbai attacks, and others didn’t sea route to land in Mumbai.

Pak Admiral Norman Bashir on Friday told reporters, "There is no proof behind Indian claims that Kasab landed in Mumbai to carry out attacks using sea route from Pakistan."

“Mumbai terror attacks reflect a complete failure of Indian navy,” Bashir added.

At the same time, he admitted that patrolling the waters on the Pakistani side of the international border off the Gujarat coast was "difficult" due to the dispute over the Sir Creek, IANS reported.

The latest statement by Pakistan navy is in complete contrast to the findings of the interior ministry in the 26/11 terror probe.

According to IANS, Bashir also sought to discount suggestions that Pakistan was engaged in an arms race with India.

Source:http://timesofindia.indiatimes.com/

Slowdown pulls down India's growth to 5.3%

NEW DELHI: Impacted by the global economic meltdown, the Indian economy has clocked slowest quarterly growth in over five years, at 5.3 per cent, in October-December of this fiscal as agriculture and manufacturing contracted, despite a stimulus package.

Against the whopping 8.9 per cent growth in the same period a year ago, economists said it is now the Reserve Bank's turn to provide stimulus to the economy by cutting rates, as inflation is already down to 3.36 per cent.

While the fall in manufacturing, by 0.2 per cent, in the third quarter was expected, as was evident in negative industrial production numbers for October and December, contraction in farm output by 2.2 per cent was a bit surprising.

"What has come as a surprise is agriculture. There is a turnaround but we can be optimistic that the figures will improve," Chief Statistician Pronab Sen said.

For the nine months of this fiscal, the economy grew by 6.9 per cent against nine per cent a year ago, which may make it difficult to attain the 7.1 per cent growth this fiscal, as was pegged officially.

The Government put up a brave front, saying the third quarterly growth is not much off the mark.

"We had maintained seven per cent with a downward bias. That much has been said, but (there is) still a quarter to go. Even with 5.3 per cent, it still comes around seven per cent, maybe a shade below that," Minister of State for Finance P K Bansal said here.

However, others are not as sure about the possibility of attaining 7.1 per cent growth this fiscal. "It is unlikely that the growth is going to be 7.1 per cent (for the entire 2008-09)," Sen said.

In December, the Government provided the first stimulus package, cutting excise duty by four per cent across the board and increasing planned expenditure by Rs 20,000 crore among other things.

However, stimulus packages, also provided in January, and then the interim Budget, would take some time to work their way through the system, economists said.

"(The) Government will not be able to achieve over 7 per cent growth. The stimulus packages will take 6-8 months (to lift the economy) and (it will take) 8-9 months to get about 7 per cent (growth)," Crisil Principal Economist D K Joshi said.

It was only services that provided a sliver lining to the otherwise gloomy situation on the growth front.

Source:http://timesofindia.indiatimes.com/Business/India-Business/Sensex-Nifty-end-in-red/articleshow/4201061.cms

BSNL launches 3G services in 11 cities

DELHI: Bharat Sanchar Nigam Ltd (BSNL), said on Friday it had launched third-generation (3G) services in 11 cities and planned to expand Smartphones services to other areas in the country.

BSNL said in a statement it had invested Rs 2,700 crore ($530 million) on rolling out 3G infrastructure and would cover all district headquarters and important commercial towns.

India will hold an auction of 3G spectrum later this year, but state-run firms have already been given one slot in each service area, and will have to match the highest bid from private operators.

Third-generation services give users a chance to enjoy fast Internet access, games and a host of multimedia content from maps to music on their cellphones.

BSNL provides telecoms services across the country except in the major cities of New Delhi and Mumbai, which are covered by another state-run firm, Mahanagar Telephone Nigam.

Soruce:http://timesofindia.indiatimes.com/Business/Rupee-hits-record-low-against-dollar/articleshow/4198725.cms

Sensex up further by 52 pts on fall in inflation

Mumbai, Feb 26: On the back of fag-end buying amid short-coverings mainly in auto, refinery and IT counters due to a fall in inflation as well as firm European cues, the benchmark Sensex reversed its initial weak trends and ended up by another 52 points, despite sustained capital outflows.

Brokers attributed the recovery in share values mainly to the covering of short positions on the last day of the February derivatives contract today.

The Bombay Stock Exchange 30-share Sensex initially touched a low of 8,788.32 but rebounded sharply to settle the day at 8,954.86, a rise of 52.30 points or 0.59 per cent over its previous close. Yesterday it was up by over 80 points.

The 50-share Nifty of the National Stock Exchange too rose by 23.15 points or 0.84 per cent to 2,785.65 from its last close.

Asian indices, however, gave a mixed performance with a downward bias due to fall on Wall Street yesterday on warning given by the US government about the financial institutions.
However, a smart rally in European markets at the opening also helped the late recovery in the index.

Gold to touch Rs 17K by August: Assocham

Date : Feb-26-2009 09:24
Gold prices are expected to touch Rs 17,000 per 10 grams by August, an industry body said on Feb 25. In the same way, silver prices would also climb to Rs 24,000 a kg by the same time, as assessment study by industry body Assocham said. Since global financial crises has diminished investment opportunities in stocks, mutual funds, government securities and bonds, investments in gold and silver would continue to grow and restrict at Rs 17,000 per 10 grams and Rs 24,000 a kg, respectively by August 2009, it said.

Nevertheless, gold and silver would subside to fall to realistic levels of Rs 12,000 per 10 gram and less than Rs 17,000 a kg by January 2010 onwards, it pointed out. The assessment on ''Prospects of Bullion Trade'' for the next six months, carried out by Bullion Trade Committee headed by bullion expert S K Jindal, anticipated that peak crisis in stocks, realty and other secured markets would gradually start fading away by August and until then, gold and silver will continue to lure investors for their surpluses. In March, the average gold price would go up to Rs 15,750 per 10 gram, while silver would stray at around Rs 23,000 a kg, it said.

Market traded in red despite fall in inflation data: Sensex below 9K mark

Date : Feb-26-2009 13:32
The key benchmark Indices plunged on concern over global financial sector crisis and recession in key global economies has pushed economic growth in India down to a six-year low. Further, concerns about rising borrowing costs for Indian corporate pondered on the market as fears a downgrade of India’s sovereign rating by global rating agencies worries larger segment of the market.

Now all eyes are waiting for the RBI to reduce its key rates that would pump in more liquidity into the system and prompt the banks to reduce their respective PLRs to enhance the credit growth.

Volatility is likely to remain as rollover of Nifty positions from February 2009 series to March 2009 series stood at 62% while market wide rollover of positions was 57%, as on Wednesday, 25 February 2009.

On the sectoral front, traders off-loaded position across the sectors. Metal stocks declined on concerns a weakening domestic and global economy will have negative impact on demand. Banking stocks fell on fears of rising defaults in a weakening economy. Realty stocks plummeted on recent reports falling rates have failed to boost housing demand.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,207 stocks traded so far, 821 shares advanced while 1,285 shares declined. Nearly 101 shares are unchanged.

At 1.30PM, the BSE Sensex is trading lower by 45.37 points at 8,857.18 and NSE Nifty is down by 13.50 points at 2,749.00.

The BSE Mid Cap is trading lower by 2.28 points at 2,754.70 and Small cap is trading down by 26.03 points at 3,108.65.

Major losers from the BSE Sensex pack are Ranbaxy Labs deteriorated 16.55% to Rs. 172.95 along with ICICI Bank tumbled 5.65% to Rs. 321.25, Housing Development Finance by 4.09% to Rs. 1,203.15, Hindalco Ind by 2.00% to Rs. 39.25, Jaiprakash Associates by 1.94% to Rs. 65.75 and HDFC Bank by 1.75% to Rs. 849.00 among others.

Major gainers from the BSE Sensex pack are Tata Motors advanced by 1.89% to Rs. 142.50 along with Larsen & Toubro Ltd by 1.31% to Rs. 620.45, Grasim Industries Ltd by 0.98% to Rs. 1,421.00, ACC by 0.28% to Rs. 559.70 and Infosys Tech by 0.23% to Rs. 1,219.00 among others.

The BSE Bankex index is lower by 136.78 points or 3.20% at 4,140.25. Stocks trading in red are ICICI Bank fell by 5.65% to Rs. 321.25, Karnataka Bank by 4.43% to Rs. 61.45, Punjab National Bank by 4.38% to Rs. 326.50, Axis Bank 4.37% to Rs. 350.25, Canara Bank by 3.58% to Rs. 156.25, IDBI Bank3.45% to Rs. 47.60 and Yes Bank by 3.27% to Rs. 51.80 among others.

Ranbaxy Laboratories deteriorated 16.55% to Rs. 172.95 after US regulators raised questions against falsified data and test results.

Reliance Industries fell by 0.01% to Rs. 1,265.90 on fears a worsening global economy will hit demand for petrochemicals.

ONGC rose 0.06% to Rs. 697.20 and Cairn India gained 1.25% to Rs. 162.50 as crude oil prices surged over 6% on the New York Mercantile Exchange on Wednesday, 25 February 2009.

Piramal Healthcare rose 16.65% to Rs. 208.40 on report French drug maker Sanofi-Aventis has emerged as the front-runner to buy a substantial stake in the Indian firm.

Matrix Laboratories advanced 2.92% to Rs. 91.60 after the company said it got approval from the World Health Organisation for generic version of a HIV drug.

Larsen & Toubro rose 1.31% to Rs. 620.45 on bagging new orders aggregating to Rs. 1,162 crore.

Madras Aluminium Company was locked at 5% upper limit at Rs. 94.95 after Twin Star Holdings set a price of Rs. 105 for acquiring 20% stake in the Indian aluminium maker as part of a delisting offer.

Strides Arcolab jumped 6.99% to Rs. 71.90, on reporting strong financial performance for CY2008.

Petron Engineering Construction gained 0.82% to Rs. 67.55, after the company said it bagged two orders aggregating to Rs. 72.55 crore.

DLF slumped 3.62% to Rs. 149.00 on reports the Income-Tax department has ordered a special audit of the accounts of the real estate giant for the assessment year 2006-07.

HDFC MF launches 13 months plan

Date : Feb-25-2009
HDFC Mutual Fund house has commenced initial offering period of HDFC Fixed Maturity Plan 13 Months March 2009 (1) under HDFC Fixed Maturity Plans-Series X. The NFO will open for subscription on March 3 and close for subscription on March 24, 2009. The face value of new issue is Rs 10 per unit.
It is a close-ended income scheme. The objective of the fund is to generate regular income through investments in debt as well as money market instruments and government securities. The scheme offers wholesale plan and retail plan with growth and dividend option.

The minimum application amount under the retail plan will be Rs. 5,000 and in multiples of Rs. 10 thereafter. On the other hand, the minimum investment amount is Rs. 25 lakh under the wholesale plan and in multiples of Rs. 10 thereafter. The scheme will invest 60%-100% in debt as well as money market instruments, with low to medium risk profile. The scheme will also invest up to 40% in government securities with low risk profile. The FMP will not charge an entry and exit load. As the scheme is being listed, the investors during the tenor of the Scheme will not be able to redeem their units and there will be redemption by the fund only on the maturity of the scheme.

Tata Cap NSD issue over subscribed 6 times

Date : Feb-26-2009
Tata Capital's non-convertible debenture (NSD) issue was oversubscribed six times of the offer. It received bids worth above Rs 3,000 crore on vigorous response from all categories of investors. The Rs 500 crore issue had opened for subscription on February 2 and closed on February 24.
Tata Capital said in a statement that the company would retain subscriptions worth Rs 1,500 crore from the issue of secured NCDs. The instrument would be listed on the National Stock Exchange (NSE).

MR Praveen P Kadle, Tata Capital managing director, said, "The issue has gained significant acceptance and this re-instates investor confidence in Tata Capital. Based on the good response we feel such bonds will become an instrument of choice for investors and other corporates leading to the development of a strong corporate bond market."

Amount raised from the issue is planned to use for company's various activities including lending and investments, for capital expenditure and to repay existing loans, he added.

6% hike in DA for Central govt employees

NEW DELHI: The Union Cabinet on Thursday raised the Dearness Allowance for Central government employees from the existing 16% to 22% with effect from Jan 1, 2009.

The Cabinet met today and cleared the hike which will increase the burden on the exchequer to over Rs 6,000 crore.

The move is significant since elections are round the corner and notification from the Election Commission is expected shortly.

In other decisions, the Cabinet cleared Rs 8,160 crore for upgrading roads in Naxal-affected areas. It also allowed states to let their fiscal deficit go up to 3.5% as compared to 3% earlier.

On Tuesday, more sops were announced by stand-in finance minister Pranab Mukherjee, who declared cuts of 2% in service tax and in excise duties on most goods. Ahead of Lok Sabha polls, the sops are estimated to cost the government over Rs 29,000 crore.

Announcing that the 4% cut in central excise duties made in December 2008 would continue for the next fiscal, the FM said excise rates at 10% would be cut by a further 2% to bring them down to 8%. Other excise slabs like 4% or 8% or items taxed at more than 10% would be unaffected by the cut. Experts said while only one slab had been slashed, it accounted for almost 96% of all items, which makes the cut almost across-the-board.

Source:http://timesofindia.indiatimes.com/

Govt mulling diesel price cut

NEW DELHI: As crude oil prices hover around four-year lows, the government may look at slashing diesel prices further that will help cool inflation by lowering goods transportation charges.

When contacted, Petroleum Minister Murli Deora said: "There is no plan as of now to cut fuel prices." But, sources in the know said the Oil Ministry was pushing for the matter to be taken up by the Cabinet at the earliest.

According to a source, "There is a scope for reduction in diesel rates only." Going by the calculations, diesel prices can be cut by Rs 2 a litre on top of the Rs 4 a litre reduction effected in two installments since December.

State-owned fuel retailers Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum are selling petrol at almost break-even point while they make Rs 3.26 a litre profit on diesel sales.

New York's main contract, light sweet crude for April delivery, was trading at $40.07 a barrel as demand was still weak.

Soruce:http://timesofindia.indiatimes.com/Business/Govt-orders-special-audit-of-DLF/articleshow/4189734.cms

Chargesheet filed in Mumbai terror attacks

MUMBAI: Three months after the unprecedented terror attack in Mumbai, a voluminous chargesheet was filed on Wednesday against about 20 people including the lone arrested gunman Mohammad Ajmal Amir Kasab for crimes ranging from murder to waging war against the country.

The nearly 5,000 page chargesheet in the Mumbai siege which brought the country's financial capital down to its knees for 72 hours killing 183 people also included the reports and forensic examination conducted by the FBI, which had been working along with the Central Security agencies in the case.

Special public prosecutor Ujwal Nikam filed the chargesheet before the metropolitan magistrate M J Mirza.

Nikam told reporters, “We want the trial to end in six months. We will give the copy of chargesheet to Kasab.”

There are 35 names in all figuring in the chargesheet, according to TV reports. Nikam refused to reveal how many of them are Pakistanis.

Kasab, the lone terrorist caught alive in the Mumbai terror attacks, was not produced in the court.

Kasab is facing charges ranging from waging war against the country to murder, attempt to murder and other provisions of the Indian Penal Code and under the stringent MCOCA.

He is also being charged under the Unlawful Activities Prevention Act and for entering the railway platform without ticket, PTI reported.

Besides Kasab, nine other Lashkar terrorists killed in the encounter, over a dozen accused have been named in the chargesheet.

source:http://timesofindia.indiatimes.com/Chargesheet-filed-in-Mumbai-terror-attacks/articleshow/4189975.cms

Sensex gains 134 pts in early trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex gained over 134 points in the opening trade on Wednesday due to buying of funds on firm global markets amid covering up of short positions by speculators ahead of Thursday's expiry in the derivatives segment.

The 30-share barometer gained 134.02 points to 8,956.08 with the banking, realty and metal sector stocks leading the recovery. The index had lost nearly 220 points in the previous two sessions.

The broad-based National Stock Exchange Nifty also moved up by 35.80 points to 2,769.70.

Stock brokers said apart from short-covering by speculators in view of Thursday's monthly expiry in the derivatives segment, fresh buying by funds driven by overnight rally on the US markets and firming trend in other regional bourses, helped sentiments improve to some extent.

They said the market also got a boost after the government announced that the 4 per cent across-the-board excise duty cut would continue beyond March 31, 2009, and also reduced excise duty rates by two per cent to bring it down to 8 per cent.

Soruce:http://timesofindia.indiatimes.com/Business/Sensex-gains-134-pts-in-early-trade/articleshow/4187110.cms

Reliance opposes gas supply to NTPC

NEW DELHI, Feb 23: Reliance Industries Ltd has opposed supplying its Krishna-Godavari basin gas to NTPC as its legal dispute with the nation’s largest power generator, previously cited by the state-owned firm to block the sale of KG-D6 gas, is still pending at the Bombay High Court.
The Power Ministry has identified NTPC plants to take nearly half of the 18 million standard cubic metres per day of KG-D6 gas earmarked for the power sector.
This prompted RIL to question the logic of supplying gas to the state-owned firm that cited the court case not only to refuse participation in the process of discovering the price of KG-D6 gas but also blocked moves to sell the fuel to the Dabhol power plant.
"In the backdrop of continuing litigation it is completely inappropriate for the Government to require Reliance to enter into commitments for sale of gas with NTPC," Reliance wrote to the Petroleum Ministry earlier this month.
Reliance had in 2007 offered gas from its KG-D6 fields to Ratnagiri Gas & Power Pvt Ltd (earlier Dabhol) but NTPC, which is half owner of the country's largest gas-fired unit, blocked the move even though this gas is cheaper than imported-LNG being used to fire the plant.
The Government has now decided that KG-D6 gas, priced at a cap of USD 4.20 per million British thermal unit, will meet the entire fuel requirement of Dabhol. (PTI)

Hinduja Group prefers taking 51% stake in Satyam: CFO

NEW DELHI: The Hinduja Group, one of the interested parties in acquiring a stake in Satyam Computer, today said it would prefer taking 51% in the IT major.

"It will be preferred if somebody can get 51%. Suppose the open offer does not come to 20%, then it will be less than 51%. Also, till the time proper restated account is available or crystallisation of liability is happened, no bidder can really put a value on that company," Hinduja Group CFO Prabal Banerjee said.

Last week, the board of Satyam approved the stake sale process as directed by the Company Law Board and said it would release the process of the sale after getting due approvals.

Earlier, another suitor Spice Group's chairman B K Modi had said that his company would be interested in Satyam only if the entire 51% stake is offered through the preferential route.

"The entire money should go into Satyam. The CLB has already laid down the broad framework of the process to be followed. They have also recognised that any strategic investor would like to have adequate equity shareholding, which would enable the investor to constitute its own board," Modi had said.

L&T, the 12% stakeholder in Satyam has already said it needs to know the details of the stake sale process before commenting.

Soruce:http://timesofindia.indiatimes.com/Business/Hinduja-eyes-51-stake-in-Satyam/articleshow/4183410.cms

Bihar gets Rs 16k crore from the Planning Commission

Date : Feb-24-2009 12:41
The Planning Commission on Monday approved its annual plan outlay worth Rs 15,900 crore for the fiscal year 2009-10. For the year 2008-09 the plan size was Rs 13,500 crore. The new plan also includes Central assistance of Rs 4,798.96 crore out of which Rs 110 crore will be used to fund the special projects of the state. The new grant was approved between Planning Commission deputy chairman Montek Singh Ahluwalia and chief minister Nitish Kumar at Vikas Bhavan in New Delhi.

Montek Singh Ahluwalia however has complimented Bihar for the plan aimed at accelerating infrastructure development. He has also stressed the need for better plan realisation and provision of land for power sector infrastructure.

The planning commission panel has also advised the Bihar Chief Minister to engage financial institutions in skill development and avail itself of the benefits on offer under the Jawaharlal Nehru Urban Renewal Mission for upgradation of civic amenities.

The Bihar Chief Minister however said that since Bihar is a development deficit state, it needs higher plan size. He also said that the state has plans for private investment at different stages in the sugarcane and thermal power sectors. "We have created an investment-friendly climate. Four sugar mills will be opened soon, and they include two by HPCL," he said, adding Bihar expects to spend 24% of the allocated amount on basic infrastructure, including roads and bridges.

Bharti AXA MF extends NFO closing date

Date : Feb-23-2009
Bharti AXA Mutual Fund has published corrigendum to notice mentioned that closing date of New Fund Offer (NFO) period of Bharti AXA Regular Return Fund. The new issue will close for subscription on February 26, 2009 instead of February 27, 2009. The NFO was opened for subscription on January 28, 2009.

Bharti AXA Regular Return Fund, an open-ended income scheme that seeks to generate regular income through investments in fixed income securities as well as to generate long term capital appreciation by investing a portion in equity as well as equity related instruments.

Railways to upgrade security infrastructure

Railways to upgrade security infrastructure

: NEW DELHI, Feb 19: Amid heightened threat perceptions, Railways have decided large-scale commando training for their RPF personnel apart from standardising and upgrading zonal RPF training centres and installing ‘integrated security system’ in the four metro cities. In two years, five zonal training centres of RPF will be upgraded and equipped with modern devices to train the personnel to thwart terror attacks, Minister of State for Railways R Velu said in the Lok Sabha today.

He said proposals have also come for creation of three more battalions of the Railway Protection Force (RPF). In a written reply, he said slots have been sought in reputed training institutes of other paramilitary forces for the commando training of the RPF personnel. Railways have also released Rs 14 crore for procurement of vehicles for RPF for improved mobility of the force, he added. The five zonal RPF training institutes identified for upgrade are in Kharagpur, Kimber Garden in Southern Railway, Bandikui in North Western Railway, Rajahi Camp in Gorakhour and Mokama in East Central Railway. (PTI)

Illegal trade in endangered birds flourishes in Delhi

Illegal trade in endangered birds flourishes in Delhi

: NEW DELHI, Feb 19: Hundreds of colourful parakeets, pretty canaries, menacing falcons and other endangered birds can be found in the national capital - not in zoos or forested areas but in the cages of illegal bird sellers who openly flout laws to make a quick buck. “If there is demand, there will be supply. Several ministers and big people come here to buy these birds. This keeps us going despite seizures and prohibitory laws,” a bird seller near Jama Masjid told IANS on condition of anonymity. Jama Masjid in Old Delhi is just one of the several places in and around the capital where laws are flouted to sell endangered birds. Behind the Red Fort, at INA Market, Moolchand crossing, Minto Road and Noida’s Sector 18 market, many vendors flaunt the birds without fear.

“I have broken several cameras. If you want the same thing to happen to you then go ahead and take pictures,” threatened a bird seller in Noida’s Atta Market but didn’t attempt to hide his illegal wares, which included the rare macquacaca.
“The root cause of this business flourishing is that the wildlife inspectors who seize the endangered birds show only the less important birds in court, allowing the illegal sellers to be let off after a meagre fine of Rs 100,” said Ashok Kumar, a trustee of the Wildlife Trust of India (WTI). The illegal vendors usually sell each parakeet for Rs 40-50, but those wanting talking birds have to shell out Rs 500. A falcon can cost as much as Rs 20,000 depending upon the breed, while owls are priced only marginally lower. The pretty hill mynahs are sold for about Rs 2,500.
According to Kumar, endangered birds worth hundreds of thousands of rupees are smuggled into Delhi every day from Bihar, West Bengal and Uttar Pradesh. “On any given day, around 50,000 birds are brought here - mostly parakeets, mynahs, munias, bulbuls, koels, hill mynahs, canaries and eagles,” he said.

“The rose-ringed parakeet, which is a talking species, is much in demand. Then come other parakeet varieties like Alexandrian and red-breasted species. The black-headed munia and finches are also widely traded,” Kumar added. Some birds are kept as status symbols since they are very expensive and exotic. However, many are also bought for religious, superstitious and medicinal reasons. The claws and feathers of birds like great-horned owls, pariah kites and even bats are used by those who believe in sorcery.
Kumar feels that the present laws are inadequate to prevent trade in endangered birds. According to him, the Wildlife Protection Act 1972 and Convention on International Trade in Endangered Species (CITES) need to be strengthened to ensure that the lovely winged creatures do not become extinct and are free to fly. (IANS)

Extreme negativity amongst schoolchildren: NCERT study

Extreme negativity amongst schoolchildren: NCERT study

: NEW DELHI, Feb 19: Concerned about the mental well-being of children as they grow into adults, the National Council of Educational Research and Training (NCERT) is conducting a nationwide survey to analyse the emotional experience of children in schools and the initial results have not been encouraging.

“The initial results of the survey have revealed that there is extreme negativity amongst schoolchildren,” NCERT director Krishna Kumar said at a panel discussion on corporal punishment in schools here on Thursday.

“There is so much pressure on a child these days that it becomes difficult for him or her to deal with stress. From examination stress in grade one right up to the pressure of performance at the IIT and MBA entrance examinations, the narrow mindset of parents and teachers that marks, are all that a child needs to build his future is frustrating.
“To analyse the emotional experience of children as they go through school, we decided to conduct a nation wide survey. The result of the survey is expected to be out by August-September this year,” Kumar told IANS on the sidelines of the discussion.
He was also extremely critical of ‘the system’, which he says refuses to take a wider view of education.
“We have failed to convince the government to stop centralized examinations at grade 10. There has to be a wider view of the education system so that subjects don’t become terrorising for a child,” Kumar said. (IANS)

Arjun tank gets vote of support from Indian Army chief

Arjun tank gets vote of support from Indian Army chief

: NEW DELHI, Feb 19: In a reversal of the Indian Army’s stand on the indigenous main battle tank (MBT) Arjun, which has been 37 years in the making, Army chief General Deepak Kapoor has written to the Defence Ministry appreciating the tank’s performance. The Army chief’s letter has come months before the MBT Arjun, which India has been trying to manufacture indigenously for more than three decades, is headed for head-to-head ‘comparative trials’ with the Russian T-90 tanks that the Army currently operates.

“The Army chief for the first time has appreciated Arjun tank for performing well. In a letter written earlier this year, he said that the tank was subjected to the most strenuous of tests and it performed ‘admirably well’,” a Defence Ministry official told IANS on the condition of anonymity. The letter from the Army chief came after last year’s winter trials of the tank, which has already cost the exchequer Rs.3.5 billion ($71.7 million). The stand is a complete u-turn as the Army had made it clear that it would buy no more than the 124 Arjuns it has contracted for because it is unhappy with the tank on various counts.

Inflation rate dips to 3.92%

Inflation rate dips to 3.92%

New Delhi, Feb 19: India’s annual rate of inflation dipped further in the week ended February 7 to 3.92 per cent from 4.39 per cent the week before, official data showed on Thursday. The inflation rate, based on the official wholesale price index (WPI) stood at 4.98 per cent for the corresponding week of the previous fiscal, showed the statistics released by the Industry Ministry here. The WPI for all commodities declined 0.2 per cent to 228 (provisional) from 228.4 (provisional) the week before. The index for primary articles declined 0.2 per cent to 248.0 (provisional) from 248.5 (provisional) for the previous week, while that for manufactured products declined 0.4 per cent to 199.7 (provisional) from 200.6 (provisional) the week before. (IANS)

Clinton announces envoy for NKorean nuclear talks

Clinton announces envoy for NKorean nuclear talks

SEOUL: US secretary of state Hillary Clinton announced Friday the appointment of Stephen Bosworth as special envoy for the North Korean nuclear talks.

In a press conference, Clinton said Bosworth, a career diplomat who once served as ambassador to South Korea, "is up to the task."

Source: http://timesofindia.indiatimes.com/Clinton_announces_envoy_for_NKorean_nuclear_talks/articleshow/4158387.cms?TOI_latestnews

Obama should apologise for Iraq war: Tutu

LONDON: Archbishop Desmond Tutu has warned that US President Barack Obama risks squandering goodwill from around the world if he fails to take concrete steps such as apologising for the Iraq war.

Tutu, the Nobel Peace Prize laureate and retired archbishop of Cape Town, urged Obama to support the International Criminal Court (ICC) and "come down hard" on African dictators.

The 77-year-old anti-apartheid icon said that when Obama was elected in November last year, "I wanted to jump and dance and shout" as he had done after voting in his homeland for the first time in 1994.

But a few weeks into the new administration, he now warned in an article for the BBC's website that the high hopes surrounding Obama's presidency may turn sour.

Obama "could easily squander the goodwill that his election generated if he disappoints," Tutu wrote.

"It would be wonderful if, on behalf of the nation, Obama apologises to the world, and especially the Iraqis, for an invasion that I believe has turned out to be an unmitigated disaster."

Source: http://timesofindia.indiatimes.com/Obama_should_apologise_for_Iraq_war_Desmond_Tutu/articleshow/4158398.cms?TOI_latestnews

Man who killed police officer executed in Virginia

JARRATT, VIRGINIA: Virginia has executed a purported drug dealer who gunned down a police officer during a foot chase a decade ago.

Corrections department spokesman Larry Traylor said Edward Nathaniel Bell was pronounced dead at 9:11pm. on Thursday (0200 GMT Friday) at the Greensville Correctional Center.

The 43-year-old was put to death by lethal injection for shooting police Sgt. Ricky Timbrook on Oct 29, 1999.

Bell had maintained that he did not shoot Timbrook. Prosecutors, however, say Bell was a flashy drug dealer who held a grudge against Timbrook for arresting the Jamaican man two years earlier.

Bell was the 103rd Virginia inmate executed since capital punishment was reinstated in 1976. Virginia ranks second only to Texas in the number of executions since then.

Source; http://timesofindia.indiatimes.com/Man_who_killed_police_officer_executed_in_Virginia/articleshow/4158459.cms?TOI_latestnews

NCP gains ground in state

MUMBAI: The NCP is working overtime to consolidate its hold over western Maharashtra which has 10 LS seats. The party is planning to secure at least 35 seats so that its president Sharad Pawar could stake his claim to prime ministership in the event of a hung house. It is trying to bag the bulk of these seats from western Maharashtra.

At present, the party has eight of the 10 seats from this region, but it is planning to capture all 10. A fairly sure seat will be that of Pawar himself who is planning to contest from Shirur in Pune district.

Pawar's daughter Supriya Sule will contest from Baramati-from where he has been elected several times. In Solapur, which has a BJP MP, Union minister Sushilkumar Shinde is planning to field his daughter Preeti on a Congress ticket. But NCP is strategising to capture this seat too by tacitly backing a powerful Independent. In the last elections, Shinde's wife, who was the Congress nominee, was defeated by the BJP.

In Kolhapur, the NCP may field speaker Babasaheb Kupekar or former health minister Digvijay Khanvilkar. There are indications that Khanvilkar, who belongs to a royal family and has a mass base in the district, may be rewarded for his steadfast loyalty to Pawar. On Sunday, Khanvilkar proved his clout by organising a huge rally in Kolhapur to commemorate the martyrs of 26/11. The success of the rally has become the talk of western Maharashtra.

The NCP has decided to set up a war chest containing upwards of Rs 400 crore for the upcoming Lok Sabha polls. As there is no limit on the amount spent by a party, the NCP will loosen its purse strings generously. The party controls a string of sugar factories and banks in the cooperative sector. Some of its second-rung Maratha leaders are individually worth Rs 100 crore each.

Apparently, the NCP's friends in the intelligence community have informed it that no party or combination of parties will obtain a majority and that the polls will throw up a fractured verdict. Apart from its own MPs, the NCP is also expecting the support of parties like the Sena. Though the Sena has an alliance with the BJP, if Pawar has a good chance of becoming PM, then the saffron party may support him on the grounds that he will be the first PM from Maharashtra.

Source: http://timesofindia.indiatimes.com/Cities/Mumbai/NCP-gains-ground-in-state/articleshow/4157613.cms

Race course restoration in 3 months' time

MUMBAI: Work on restoration and conservation of the member's enclosure at the Mahalaxmi Race Course -which suffered major damages in two fires last year - is set to start before the end of this month.

The proposal by the Royal Western India Turf Club (RWITC) earlier received a go-ahead from the Mumbai Heritage Conservation Committee (MHCC) to reconstruct the stands; municipal commissioner Jairaj Phatak gave a green signal to the plan last week. According to the architects - Mahimtura & Consultants - the grade II heritage structure will be restored to its former glory in less than three months. "Our idea is to just replicate the original architecture and heritage. No changes will be made to the exterior and even the interiors will only be minimally altered," said architect Shailesh Mahimtura.

The upper and centre decks of the member's stands, which about 1000 patrons, were gutted in fires on July 3 and September 19, 2008. The cost restoration, reconstruction and conservation of the member's stands will be over Rs 1 crore.

Under the plan, the roof will be relaid with Mangalore tiles, repairs will be carried out on the cement coba of the pantry, passage and sitting area. The roof will be decorated with wooden brackets and facia boards. Painted masonry brackets and plinth mouldings will also be put in place.

Vivek Jain, chairman, media and marketing committee of RWITC, said the ground floor of the member's enclosure is open to patrons. "We want to repair the affected parts of the first and second floors,'' he said.

The MHCC has however withheld permission for repair and reconstruction of enclosure 2 near the member's stand. Dinesh Afzulpurkar, chairman, MHCC, said, "Keeping in mind the new racing season from January 31, we granted permission to restore the old members' enclosure. But for enclosure 2, we are waiting for more documents.''

Source: http://timesofindia.indiatimes.com/Cities/Mumbai/Race-course-restoration-in-3-months-time/articleshow/4157614.cms

No Bangla link in carnage: Cops

Mumbai police officials have denied the possibility of a Bangladeshi link to 26/11.


Bangladesh foreign affairs minister Hassan Mahmud hinted on Thursday that the terrorists involved in the 26/11 attacks might have used Bangladeshi soil, media reports said. This is the first time an official from the Bangladeshi government has pointed to a Dhaka involvement in the attack. "Since terrorist attacks have been happening in the region in the past few months, even in Mumbai, terrorists have cross-border links,'' Mahmud was quoted by the Bangladesh-based newspaper, The Independent.

"Not only Lashkar (LeT) and HuJI, but other terror organisations also. They trained in Afghanistan, they were in Pakistan, then they came here. It is dangerous. They cooperate among themselves, now we have to cooperate among ourselves in the region to combat them,'' Mahmud added.

Mumbai's police, however, have taken the official Indian line and discounted the possibility. "We have found nothing in the course of our probe that suggests any Bangladeshi link in 26/11,'' joint commissioner of police (crime) Rakesh Maria told TOI.

Source: http://timesofindia.indiatimes.com/Cities/Mumbai/No-Bangla-link-in-carnage-Cops/articleshow/4157734.cms

Nariman House still throws up 26/11 bullets

Nariman House caretaker Zakir Hussain, also a witness to the carnage last November, has found several empty shells of cartridges on the premises over the past few weeks.

We've got what we need: Cops

Joint commissioner of police (crime) Rakesh Maria, however, felt this did not necessarily point to a shoddy investigation. "We have collected all the evidence we need,'' Maria told TOI.

Clear all evidence: Expert

Police officer-turned-lawyer Y P Singh said the police should have collected every piece of evidence from the spot and furnished it in court. "And, if the shells are Ordnance Factory material and have been used by policemen and soldiers, then they should have collected everything after the operation was over,'' he added.

Source: http://timesofindia.indiatimes.com/Cities/Mumbai/Nariman-House-still-throws-up-2611-bullets/articleshow/4157736.cms

Dawood forges tie-up with Taliban: Reports

MUMBAI: Dawood Ibrahim, India's most-wanted, is learnt to have tied up with a powerful section of the Taliban.

Sources in Indian security agencies say Dawood has worked out a "good equation" with Maulana Fazlullah aka Maulana Radio, commander of Tehrik Nifaz Shariat-e-Mohammadi (TNSM), an organisation active in areas along the Pakistan-Afghanistan border, especially Swat.

The changing political equations in Pakistan-the latest factor being the decision to impose sharia in strife-torn Swat-have apparently prompted Dawood to go for the "tie-up". Also, this has reportedly been done with the full knowledge of Pakistan's ISI.

Sources say the Taliban is known to play a crucial role in the narcotics trade; the D-gang, too, has a major stake in this. "Apart from business interests, political compulsions have compelled Dawood to network closely with the Taliban,'' a security official pointed out.

What is worrying police agencies here is that the Taliban and al-Qaida have a close network with the Lashkar-e-Taiba as well as its front organisations, including the Indian Mujahideen.

Dawood has already been designated by the US as a "global terrorist''. His new link with the Taliban makes him even more dangerous for India, say officials.

The activities of Dawood's henchmen in Mumbai and other places are being closely monitored by security officials. The D-gang is also expected to back selected candidates for the Lok Sabha elections in Uttar Pradesh and other states.

"We can act against these elements in India provided we get the green signal from the Centre,'' an official said.

Source; http://timesofindia.indiatimes.com/India/Dawood_forges_tie-up_with_Taliban_Reports/articleshow/4152167.cms

Pranab defends response to terror

NEW DELHI: Foreign minister Pranab Mukherjee on Wednesday strongly rebutted BJP's charge that the government's response to terrorism had been inadequate claiming that diplomacy had yielded results with international pressure being brought to bear on Pakistan.

He rejected BJP's criticism that anti-terror laws were half-baked, saying that their effectiveness lay in how they were implemented. He also ruled out military action, saying that retaliatory action was not necessarily the best way of resolving an issue. "We can't imitate other countries, their way of doing things because many innocent lives are lost," he said.

He also based his arguments against reactive strikes on terror bases by pointing out that diplomacy was achieving results without moving a single soldier or laying mines, a dig at the NDA government's decision to go in for Operation Parakram.

The minister, who spoke in both Houses, also took on the Left's perennial criticism that India was kowtowing to the US by pointing out that foreign policy was guided by national interest. "We are pro none. If at all, we are pro India." He denied the charge of deviating from India's held policy of supporting Palestinian people for their home land.

"Foreign policy is nothing but promotion of national interest," Mukherjee said and added that India was fully with the Arab League in condemning the attack on the Gaza Strip. He said he had visited Iran thrice and had close ties with Arabian countries who were the "principal suppliers of our fuel". "But I can have friendship with both," he added.

Mukherjee said, "We are not subservient to any one. We are not afraid but we don't go around brandishing our sword like Don Quixote at every windmill."

In Lok Sabha, he also indicated that government disapproved of chief election commissioner N Gopalaswami's recommendation for the removal of Navin Chawla as election commissioner.

BJP had charged that India under UPA had become a weak state with Taliban at its door steps, and internal security compromised for "vote bank politics". Leading the attack, Arun Jaitley had charged that Prime Minister Manmohan Singh was like a night watchman in cricket who was waiting for the heir apparent to take charge from him and that the UPA government failed to bring a effective law against terrorism.

CPM's Brinda Karat had alleged that government's apathy towards farmers was reflected in the president's speech where there was no mention of it at a time when farmers were committing suicide.

Source: http://timesofindia.indiatimes.com/World/Pakistan/Pranab-defends-response-to-terror/articleshow/4151855.cms

Lakhvi, Shah remanded to police custody for 14 days: Report

ISLAMABAD: Top Lashker-e-Taiba operatives including Zakiur Rehman Lakhvi and Zarar Shah arrested on Wednesday for their links to the Mumbai attacks
by Pakistani authorities, were on Thursday remanded by an anti-terrorism judge to police custody for 14 days.

With this, the total number of suspects remanded to the custody of law enforcement agencies has gone up to four.

LeT activist Hamad Amin Sadiq, described by Pakistani officials as the "main operator" behind the attacks, was remanded to custody of the Federal Investigation Agency on Monday.

Though interior ministry chief Rehman Malik had announced the detention of the three men — Lakhvi, Zarar Shah alias Abdul Wajid and Abu Al Qama — along with other suspects on February 12, police officials told the judge that they were only arrested yesterday in the garrison city of Rawalpindi.

Police charged the three LeT operatives with conspiracy and facilitating and collaborating in the attacks.

Lakhvi, Zarar Shah and Abu Al Qama were produced before an anti-terrorism court judge who remanded them to police custody for a fortnight, TV channels quoted court and government officials as saying.

Police told the judge that they needed custody of Lakhvi, Shah and Qama in order to recover some explosives from the suspects. The judge granted custody for further interrogation and investigation.

Malik had said last week that two more suspects had been detained by Pakistani authorities though their legal status and whereabouts are currently unknown.

The spokesmen for the interior ministry and other concerned departments have refused to speak on the status of Pakistan's probe into the Mumbai attacks, saying they had been asked by their higher-ups not to comment on the issue.

Meanwhile, attorney general Latif Khosa on Thursday told reporters that Pakistan could seek custody of Ajmal Amir Kasab, the lone terrorist captured by India for the Mumbai incident, through Interpol only if a court issued an order in this regard.

Khosa said if the Pakistani police and prosecution named Kasab as one of the suspects in their chargesheet, the court could then issue an order for him to be produced before it.

But if the police said Kasab cannot be produced as he is outside Pakistan, the court could then secure his custody through Interpol, he said.

Source: http://timesofindia.indiatimes.com/India/Lakhvi-Shah-remanded-to-police-custody-Report/articleshow/4156139.cms

Evidence stacks up against Kasab

The state-run forensic laboratory and the US Federal Bureau of Investigation (FBI) have analysed hundreds of pieces of evidence - both physical and

electronic - to be used in the trial against the lone 26/11 terrorist caught alive, Amir Ajmal Kasab. The forensic lab is working overtime as well as on weekends to help the police present a watertight case in court; FBI help is coming in for analysing all the communication, via e-mail, satellite phone and GPS devices, between the 10 terrorists and their masters in Pakistan

What the forensic lab got

Evidence I: Arms & Ammo

The forensic lab has carried out 69 ballistic tests on the arms and ammunition recovered from the sites (Taj, Oberoi, Cafe Leopold, Nariman House and CST). The evidence includes AK-47s, 9-mm pistols, bullets and cartridges, hand grenades, traces of TNT and detonators used by the terrorists. The police say the 9-mm pistols used by the terrorists were manufactured by the Pakistan-based Diamond Nedi Frontier Arms Company and the grenades by Arges, a Pakistan Ordnance Factory franchisee.

Evidence II: The Rdx-Laced Bombs

Tests have revealed that the bombs used by the terrorists contained RDX. Two exploded in taxis at Vile Parle and Wadi Bunder, two at Oberoi, one exploded on the fifth floor of the Taj, two were discovered around the hotel, one burst on the Nariman House premises, another a few metres away at a petrol pump and the 10th (and last) was recovered from a bag left behind at CST.

Evidence III: The Debris

The debris from the two taxi blast sites at Wadi Bunder and Vile Parle has been analysed.

Evidence IV: DNA samples from articles of daily use

DNA samples of Kasab and the nine other terrorists matched with those found on articles they used on M V Kuber (the fishing trawler they travelled in from Porbandar to Mumbai). Forensic experts collected DNA samples of 16 articles. Ten were collected from toothbrushes, jackets, blankets and food packets and all matched with samples collected from the 10 terrorists. But six DNA samples gathered from the trawler did not match the terrorists'; officials said they must have belonged to Kuber crew members. This evidence proves conclusively that the terrorists travelled by the trawler.

Evidence V: The Motor

The terrorists used a dinghy to land at Badhwar Park, Cuffe Parade. The motor used in the dinghy was a Yamaha engine imported into Pakistan and distributed by Business of Engineering Trends, Lahore.

Evidence VI: The Viscera

Forensic experts also examined the slain terrorists' viscera. It did not show traces of any drug but established that they had been on a diet of nuts before entering Mumbai.

What's Left

Experts are yet to analyse a few ballistic samples and a couple of detonators.

What the police expect from FBI

The e-mail angle

The FBI is assisting Mumbai's cops in probing the origin of the e-mails sent on the evening of 26/11, purportedly by Deccan Mujahideen, from IP address deccanmujahideen@gmail.com. The address has been traced to a proxy server in Russia. LeT communication coordinator Zarrar Shah supervised the creation of a new e-mail account and had another ID, drmoazam@ymail.com, registered in Pakistan on 24 June 2008.

The satellite phone

The terrorists used Voice over Internet Protocol (VoIP) to contact their handlers based in Pakistan. One of the virtual numbers was set up with a US company, Callphonex, by one Kharak Singh from India; payment for the account was made from Italy by Pakistani national Javid Iqbal.

The GPS trail

The Global Positioning System was pre-programmed to help the terrorists reach Badhwar Park. Officials suspect the terrorists used the GPC to travel and locate their targets.

The guns

The FBI is also assisting Mumbai investigators to locate the origin of the 10 AK-47s used in the attack.

Source: http://timesofindia.indiatimes.com/World/US/Evidence_stacks_up_against_Kasab/articleshow/4157735.cms

Mumbai police gets 26/11 evidence from FBI

WASHINGTON: The Mumbai police has obtained "crucial evidences" from the FBI that points that the plot to execute the 26/11 terror attack was hatched in Pakistan.

The three-member team led by Mumbai Police Deputy Inspector General Deven Bharti received the evidences that also include the information collected by the FBI, which it had gathered by sending its team to Pakistan.

These evidences, ranging from details of Voice Over Internet Protocol (VoIP), satellite phones used by terrorists, exchange of emails, intercepts and forensic examination of bullets used by attackers and others substantiates the links between the terrorists and their handlers in Pakistan.

The evidences also include the information collected by the FBI, which it had gathered by sending its team to Pakistan. The Mumbai police team left for India yesterday. It had come to Washington to hand over a Letters Rogatory issued by a Mumbai court and vetted by the Ministry of External Affairs to the US Department of Justice in Washington.

FBI's help had been sought in sharing the proofs like call details made through VoIP and from the satellite phone besides getting the documents related to Global Positioning System used by the terrorists while sailing from Karachi.

Backed up by its state of the art technological equipments, the FBI is believed to have got minute details of the voice over internet protocol services and satellite phones, which the terrorists used to call up their bosses in Pakistan.

The forensic examination of the bullets used by the terrorists in Mumbai was also a part of the evidence gathered from FBI by Mumbai Police. The evidence from FBI is expected to make the case water-tight as this kind of proof would further nail Pakistan's claims that the conspiracy behind 26/11 was not hatched in that country alone.

India and the United States share a Mutual Legal Assistance Treaty (MLAT) which came into effect on December 3, 2005.

Source: http://timesofindia.indiatimes.com/Mumbai_police_gets_2611_evidence_from_FBI/articleshow/4157975.cms

Dev.D does good business at the box office

Anurag Kashyap’s Abhay Deol starer Dev.D managed to get critical acclaim from all quarters and also managed to garner good moolah at the ticket window. The path breaking music and the controversial content did the trick and in the first week this medium budgeted film managed to gross a whopping Rs. 13 crores at the box office and is also still running strong.

A good small budget movie rakes in an average of Rs. 6 crores and this is for the third time in a row that a film from the spot boy palette that has done so exceptionally well. However, more than anything else I had complete faith on Anurag Kashyap’s work and the concept of the film. I am glad that the film is garnering such a tremendous response and has surpassed all expectations. With rave reviews and continued positive word of mouth, I am sure the film will keep up with its pace considering the story being so much in sync with the youth of today- Vikas Behl, COO UTV Spot Boy. -Sampurn Media

Vidya Balan’s single but not ready to mingle

Vidya Balan might be linked to every other co-star but she claims to be still single.

After her first big film ‘Parineeta’, there were talks of her closeness with co-star Sanjay Dutt.

Then she was romantically linked to ‘Salaam-E-Ishq’ co-star John Abraham. During ‘Kismat Connection’ there were talks of her connection to Shahid Kapoor though many made fun of how she looked much older than him on screen.

She denied all that outright and said in a TV interview that if she actually was linked with all her co-stars then she should be a person to wear her heart on her sleeve, which is not the case. So they are only rumours and nothing else.

She would rather be stuck with her work and is busy shooting for ‘Chenab Gandhi’ with Vibhu Puri wielding the microphone.

She’s acting alongside Amitabh Bachchan and Harman Baweja for the first time and it revolves around the life of Khan Abdul Gaffar Khan, better known as Frontier Gandhi as well as Bachchan Sr. and Abhishek. -Sampurn Media

Shilpa Shetty’s super costly music video

Shilpa who joined the IPL league after Preity Zinta is set to make a super rich music video to promote her cricket team.

The sizzling music video will have an evocative Rajasthani-folk number entitled ‘Halla Bol’ composed by Anand Raj Anand.

Interestingly it will be choreographed by Ken Ghosh who stopped doing music videos after turning feature filmmaker.

Shilpa says, “I’m so glad Ken is making an exception for me. We chose Anand Raj Anand because he’s an expert at catchy folk songs. I first worked in a film with his music when he scored for Pardesi Babu. I was simply bowled over by the numbers. Today when I hear the song he has composed for our team I feel deeply enthused.”

Shilpa’s beau and co-partner Raj Kundra is mighty excited by Anand Raj Anand’s Rajasthani song and have apparently decided to shell out a mini fortune close to Rs. 1 crore, to shoot the song featuring Shilpa.

The inside buzz is that the video would be better than anything that she has done. The word is that close to a total amount of Rs. 3 crores is expected to be spent.

The source has said, “From ‘UP Bihar Lootne’ to ‘Shut Up And Bounce’…Shilpa’s item songs have always been special. She wants her IPL music video to be her best item song ever. She’s working on the costumes, accessories everything in advance so that when they shoot the video in March she’ll sizzle like never before.”

However Shilpa refused to reveal any figures and simply said that they could all see the effect in the video.

-Sampurn Media

CLB permits Satyam to start sale process, raise equity capital

CLB permits Satyam to start sale process, raise equity capital

New Delhi, Feb 19 (PTI) Paving the way for bringing in a new owner at Satyam Computer, the Company Law Board today allowed the distressed IT firm to conduct a public auction for inducting a strategic investors and to raise its equity base.

After hearing a petition filed by Satyam yesterday, CLB ordered that the company could conduct an open transparent auction process for inducting a strategic investor.

CLB also authorised the company's government-appointed board for making allotment of preferential shares and raise its equity capital from Rs 160 crore to Rs 280 crore. The authorised equity capital of the company, whose shares have a face value of Rs 2 each, would increase to 140 crore from 80 crore, an increase of 75 (RPT 75) per cent.

Seeking to expedite the process of its sale, Satyam yesterday sought CLB's permission to conduct a public auction for induction of a strategic investor and get the funds needed to ensure its uninterrupted operations.

The company also warned that many of its key clients and staff have threatened to quit due to the firm's financial troubles and therefore, it urgently needed fresh capital.

Those having evinced interest in acquiring Satyam include engineering major L&T, B K Modi group and Hindujas. PTI

L&T to take decision on bidding after studying CLB order: Naik

Mumbai, Feb 20 (PTI) Larsen and Toubro today said it would soon take a decision on bidding for Satyam Computer Services after studying the CLB order.
"(The) CLB order has come only at night, we are studying it. We hope to complete it (the study) by tonight and we will take a decision over the days," Larsen and Toubro Chairman A M Naik said.

Yesterday, the Company Law Board allowed the distressed IT firm to conduct a public auction for inducting a strategic investor and to raise its equity base, after hearing a petition filed by Satyam.

CLB also authorised the company's government-appointed board for making allotment of preferential shares and raise its equity capital by 50 per cent from Rs 160 crore to Rs 240 crore. PTI

Scientists to clone Pashmina goat

Jammu, Feb 20 (PTI) A team of scientists from Jammu and Kashmir and Haryana are working on a project to clone the famous pashmina goat, the success of which is expected to give boost to the dwindling trade in the sought-after fur.

Under a World Bank aided project, the scientists from Sher-e-Kashmir University of Agricultural Sciences and Technology and National Dairy Research Institute will use somatic cells from the ear of a goat to produce the clone.

"The work on cloning of pashmina goat has begun under an ambitious World Bank aided project - National Agriculture Innovation Project - in joint partnership between National Dairy Research Institute (NDRI) and Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST)," Assistant Director Research, Animal Sciences, SKUAST, Dr Farooq Ahmed told PTI.

Sanctioned by the Indian Council of Agriculture Research, the project comprises four components and has been granted Rs 9 crore aid by the World Bank. Out of this, SKUAST will get Rs 1.80 crore and rest will be given to NDRI, Dr Ahmed said.

The project 'Value Chain on Zone Free Cloned Embryos Production and Development of Elite Germ Plasma Pashmina' hopes to change the pashmina production scenario in the state.

Dr Ahmed said a six-member team will use somatic cells of the goat to clone the cell to produce new pashmina goat using a hand-guided cloning technique and the four-phased project would run for next three years.PTI

HC clash rocks Tamil Nadu Assembly

HC clash rocks Tamil Nadu Assembly

Chennai, Feb 20 (PTI) The issue of violent clashes between lawyers and police in the Madras High Court rocked Tamil Nadu Assembly today with the entire opposition demanding that the Question Hour be postponed to discuss it, leading to walkout by AIADMK and its allies and en masse eviction of PMK members.

As soon as the proceedings started, the opposition members demanded that the Question Hour be postponed to discuss yesterday's clashes in the high court which left scores, including a judge and advocates and mediapersons injured.

Speaker R Avudiyappan declined to postpone the question hour, saying he would consider the matter later even as the AIADMK members shouted slogans, saying "the state is burning".

As the speaker stuck to his decision, the AIADMK members staged a walk out, followed by members of MDMK, CPI and CPI-M, shouting slogans condemning the DMK Government.

The PMK members persisted with their demand even as the Speaker proceeded with the question hour.

As they kept on pressing for postponement of the question hour despite his repeated pleas, the Speaker ordered the ward and watch staff to remove the slogan-shouting PMK members.

The AIADMK members later returned to the House. PTI

CLB allows auction to find Satyam buyer

NEW DELHI: The Company Law Board on Thursday came to the rescue of cash-starved Satyam Computer Services and allowed the IT firm to increase its
authorised share capital.

The CLB added Satyam could issue preferential shares "at par or at a premium".

CLB chairman S Balasubramanian allowed the company to increase its authorised share capital to Rs 280 crore (comprising 140 crore equity shares of Rs two each) from the current Rs 160 crore.

The CLB asked the company to use the share through a preferential allotment and said the strategic investor should be found through a "transparent, open and competitive process."

Balasubramanian said the price bid auction process should be overseen by a retired judge of the Supreme Court/ a former CJI of India.

Source: http://timesofindia.indiatimes.com/CLB_allows_auction_to_find_Satyam_buyer/articleshow/4156335.cms

US state set to recognize 'personhood' of fetus

WASHINGTON: North Dakota has become the first US state to move towards passing a law that defines "personhood" as starting at the moment of conception, which would effectively outlaw abortion, pro-life groups said.

Lawmakers in the North Dakota lower house voted 51 to 41 on Tuesday to pass the Personhood of Children Act, which confers the same basic rights on "all human beings from the beginning of their biological development, including the pre-born, partially born."

Voters in Colorado rejected by three-to-one a personhood amendment to their state constitution in a referendum in November. The North Dakota bill is expected to go before the state senate in around two weeks.

If passed, it would be used to challenge the supreme court's 1973 Roe versus Wade decision, which legalised abortion in the US and gave the country the least restrictive abortion laws in the world, experts said.

Source: http://timesofindia.indiatimes.com/World/US/US_state_set_to_recognize_personhood_of_fetus/articleshow/4157646.cms

Alleged US fraudster Allen Stanford located: FBI

WASHINGTON: Texas financier Allen Stanford, accused of a multibillion dollar fraud that prompted governments to shut down his banks and seize their assets, was located on Thursday in Virginia, the FBI said.

But the man accused two days ago by securities regulators of perpetrating "a fraud of shocking magnitude that has spread its tentacles throughout the world," and whose whereabouts until now were unknown, was not arrested.

"The agents served Mr. Stanford with court orders related to the SEC (Securities and Exchange Commission) civil filing against the Stanford Financial Group," FBI spokesman Richard Kolko said in a statement.

A US judge has frozen the assets of Stanford, his banks and two top executives and investigators are working to track down and seize assets overseas.

That could be complicated by the actions of other governments who have shut down -- and in the case of Venezuela seized -- his banks, said Securities and Exchange Commission spokesman John Nester.

"In any investigation involving multiple jurisdictions, there are complications that arise," Nestor said.

In the Caribbean and Latin America, authorities sought to quell fears among depositors who formed long queues outside local branches.

Five Latin American countries have already taken action against companies owned by Stanford, 58, whose wealth management and financial services group was particularly successful in Latin America and the Caribbean, where it lured investors with promises of big returns that never materialized.

Stanford Investment Bank claims to serve 50,000 clients in more than 130 countries while the umbrella Stanford Financial Group has more than 50 billion dollars "under advisement," according to the SEC complaint.

Faced with a run on a local subsidiary by panicked Venezuelans, Caracas "made a decision to intervene and to immediately sell" financial companies owned by Stanford, Finance Minister Ali Rodriguez said on Thursday.

Stanford Bank Venezuela, which has 15 branches in the country, already has received offers from interested parties, he said.

Peru's securities regulator on Thursday suspended operations for 30 days at the local office of Stanford Financial Group, promising it was working to secure investors' funds.

In Panama, banking authorities took over "administrative control" of a local Stanford branch after nervous clients made massive withdrawals of deposits on Wednesday.

Ecuador suspended a Stanford affiliate from operating in the Quito stock exchange for 30 days or until the company resolves the claims.

The Stanford affiliate in Colombia agreed on Wednesday to suspend its activities on the Bogota stock exchange. Banking authorities said they had taken steps to "protect customers and investors in the entity and to preserve confidence in the stock market."

On the tax haven island of Antigua, hundreds of people queued up Wednesday at the Stanford-owned Bank of Antigua to withdraw funds despite authorities' assurances their accounts were not in danger.

For the past two decades, Stanford has been based in the Caribbean, where he built a reputation as a cricket patron.

Stanford allegedly ran the most high-profile fraud since Wall Street financier Bernard Madoff was charged in a 50-billion-dollar Ponzi scheme in December.

The scandal has caused huge embarrassment in English cricket with the bosses of the national association facing calls to resign after they signed a now unraveling deal with Stanford to stage matches in Antigua and England.

Source: http://timesofindia.indiatimes.com/World/US/Alleged_US_fraudster_Allen_Stanford_located_FBI/articleshow/4158062.cms

Stanford goes missing as worried investors pull funds

WASHINGTON: Authorities were trying to track down Texas billionaire financier Allen Stanford on Thursday as fraud charges against the cricket impresario prompted panicked investors to withdraw cash from his banks.

Two days after the US Securities and Exchange Commission (SEC) accused Stanford, 58, of perpetrating "a fraud of shocking magnitude," SEC officials were still in the dark about his whereabouts -- as were close members of his family.

Authorities in the Caribbean island of Antigua —the centre of Stanford's financial empire — and in parts of South America meanwhile sought to quell fears among depositors as big queues formed outside branches of his bank.

In an interview with the Houston Chronicle newspaper, Stanford's 81-year-old father James said he understood that authorities were searching for his son, but insisted he had no idea where his son could be.

"I'd spoken to him a week or so ago — he'd called — about problems with the business climate in general, but nothing of this magnitude," he said.

"I cannot imagine, I cannot believe, I will not believe what is being alleged actually happened.

"I cannot believe that my son would run," he added.

Reports also emerged on Wednesday that the Federal Bureau of Investigation has launched an investigation into whether Stanford was involved in laundering drug money for Mexico's powerful Gulf cartel.

ABC News, citing unnamed federal officials, said Mexican police detained one of Stanford's private planes and found checks inside believed to be linked to the ultra-violent cartel.

The network also reported that Stanford spent eight million dollars in Washington wooing lobbyists and lawmakers, and that red-faced lawmakers, including former presidential candidate Senator John McCain, were scrambling to return or donate thousands of dollars Stanford gave to their campaigns.

A substantial portion of Stanford's clients are in South America, where the Venezuelan government issued a request for more information from US authorities.

"They are wondering what will be done with Stanford Bank in Venezuela," finance minister Ali Rodriguez said Wednesday.

"At the moment, we are investigating what repercussions may have occurred with the institution abroad, while at the same time we are asking US authorities about the real situation."

Rodriguez added that Venezuela's finances were "secure and stable."

In Ecuador, transactions at the Stanford Financial Group were temporarily suspended on Wednesday and Stanford representatives barred from engaging in any trading or other business in the Quito stock market.

In Antigua, hundreds of people queued up Wednesday at the Stanford-owned Bank of Antigua to withdraw funds. For the past two decades, Stanford has been based in the Caribbean, where he has built a reputation as a cricket patron.

Late Tuesday, Antigua's Prime Minister Baldwin Spencer rushed to assure depositors that their money was safe.

Spencer said the Stanford charges "have profound serious implications for Antigua and Barbuda," but that the government and the Eastern Caribbean Central Bank (ECCB) were "putting in place a contingency plan."

"Therefore there is no need for panic," he added.

While the Bank of Antigua has not been officially implicated in the fraud, another offshore bank, Stanford International Bank (SIB), has been involved in Stanford's alleged scheme.

The SEC filed civil charges Tuesday against Stanford for what they called a fraud "of shocking magnitude" in selling 9.2 billion dollars in securities, "promising ... improbable high interest rates."

A US district judge consequently froze Stanford's assets.

He ran the most high-profile alleged scheme since Wall Street financier Bernard Madoff was charged in a 50-billion-dollar Ponzi scheme in December.

Aside from SIB, Stanford's companies include Houston-based broker-dealer and investment adviser Stanford Group Company, and investment adviser Stanford Capital Management.

Stanford's wealth management and financial services group has offices across North America, Latin America, Europe and the Caribbean.

The scandal has also caused huge embarrassment in English cricket with the bosses of the national association facing calls to resign after they signed a now unraveling deal with Stanford to stage matches in Antigua and England.

Source: http://timesofindia.indiatimes.com/World/US/Stanford-goes-missing-as-worried-investors-pull-funds/articleshow/4156856.cms

US winks at Pak-Taliban deal

WASHINGTON: The United States appears to have acquiesced in another Faustian bargain in Pakistan, allowing Islamabad to cede space to a rampant Taliban advancing from the west in exchange for continued cooperation in the war on terror, including Predator strikes mounted from Pakistani air bases.

Reactions from US officials to Islamabad’s latest "peace deal" with extremist forces who have scorched the Swat region indicated that Washington was once again buying into the discredited theory of "good Taliban and bad Taliban." Pakistan has argued that some Taliban (those sponsored by the ISI whom it regards as strategic assets) can be won over and trusted whereas others (who have turned "rogue") and are irreconcilable.

In initial reactions to the Swat deal, Secretary of State Hillary Clinton said that while "the activity by the extremists in Pakistan poses a direct threat to the government of Pakistan as well as to the security of the United States, Afghanistan and a number of other nations," Washington is studying the agreement and trying to understand the Pakistani government’s "intention and the actual agreed-upon language."

There were more signals from the State Department that the Obama administration, like its predecessor, would not take a firm stand against the agreement, despite the assessment of the military-intelligence community that similar deals in the past only gave time and space for the Taliban to regroup.

Asked on Tuesday for the administration's view of the truce, acting Spokesman Gordon Duguid said Washington was in touch with the government in Pakistan and discussing the issue. "We’ll wait and see what their fuller explanation is for us," he added.

More seriously, the administration brushed aside the growing concern that Pakistan was ceding not just geographical, but also ideological space, to extremists with medieval views.

TOI: Nothing further on the deal about allowing the rule of Islamic law?

DUGUID: Well, as I understand it, Islamic law is within the constitutional framework of Pakistan. So I don’t know that that is particularly an issue for anyone outside of Pakistan to discuss, certainly not from this podium.

TOI: But is it a good development or a bad development?

DUGUID: We’ve seen these sorts of actions before. What is, of course, important is that we are all working together to fight terrorism, and particularly to fight the cross-border activities that some Taliban engage in attacking in Afghanistan.

Human rights activists and terrorism analysts who have seen the consequence of such deals in the past are less sanguine about it. Bill Roggio, a terrorism expert who runs the Long War Journal, maintained that the "agreement will lead to a further deterioration of the situation in Pakistan and is a direct threat to the security of the Pakistani state."

Indeed, even as Islamabad was dressing up the deal to make it palatable to rest of the world, the Taliban leader Sufi Mohammed, with whom Pakistan’s democratically elected government clinched the deal, was telling a news agency about his hatred for democracy and his vision of imposing Islamic rule throughout the world.

"From the very beginning, I have viewed democracy as a system imposed on us by the infidels. Islam does not allow democracy or elections," Sufi told Deutsche Presse-Agentur. "I believe the Taliban government formed a complete Islamic state, which was an ideal example for other Muslim countries."

Roggio said Islamabad’s willingness to negotiate with the Taliban despite the failure of past agreements "is eroding the viability of the Pakistani state." Washington, Roggio told ToI, is repeating the same mistakes it made in 2006.

During the "peace periods," he explained, the Taliban would use the time granted to add new recruits, rest and re-arm its forces, and consolidate control over the new-found territory. The peace agreements also served to embolden and restore the morale of the Taliban while demoralizing those who fought against the Taliban and live in the regions.

Successive US administrations going back to the mid-1990s have been indulgent about the Taliban, buying into the thesis by its sponsor Pakistan that the outfit represents Pashtuns and is representative of its interests in the region.

But the increasingly nihilistic Taliban have been spreading a dark reign of terror in the region and are now, in the words of Pakistan’s own President, threatening to take over the country. Yet, both Washington and Islamabad appear to believe there is a "good Taliban" they can deal with.

On Wednesday, the same dark forces telegraphed their intentions by killing a Pakistani journalist hours after the "peace" deal.

Source: http://timesofindia.indiatimes.com/articleshow/4152578.cms?TOI_mostemailed

Afghanistan can become Obama's Vietnam if he emulates Russians: Bill Clinton

WASHINGTON: If the US president attempts to do what the British and the Russians did in the past, then Afghanistan could become 'Barack Obama's Vietnam', but it is unlikely to happen, former president Bill Clinton has said.

"If President Obama were to do what the British tried to do in the 19th century and literally control the country, or what the Russians did into the 1980s, trying to, have a puppet government and then send the whole Russian Army in there to fight, it could become Vietnam," Clinton told Larry King of the CNN in an interview.

"But I don't expect that to happen," Clinton said when asked if Afghanistan has the potential to become Obama's Vietnam. "In theory, it could happen. But I don't think so. I think what they mean is that Afghanistan has often been a sinkhole for other country's aspirations, that it is big, tough terrain, rugged people and impossible to control the borders," he said.

"He's (Obama) got perhaps our smartest General, Gen Petraeus, and our most successful diplomat in the modern era, Dick (Richard) Holbrooke, working together to craft a military and diplomatic strategy, strongly supported by (Secretary of State) Hillary (Clinton) and Secretary (of Defence Robert) Gates," Clinton said.

Source: http://timesofindia.indiatimes.com/articleshow/4148724.cms?TOI_mostread

UN talks to expand Security Council begin

UNITED NATIONS: The General Assembly launched negotiations on Thursday aimed at reforming the powerful UN Security Council after nearly 30 years of efforts mired by national and regional rivalries.

Representatives of the 192 member states met informally behind closed doors to listen to the timetable for talks on five key issues, including the size, composition and power of an expanded council.

``This is a historic day in the United Nations,'' Assembly President Miguel d'Escoto Brockmann said. ``Finally, today, we are about to enter into the substance of this reform.''

There is widespread support for revamping the UN's most powerful organ to reflect current global realities rather than the international power structure after World War II when the United Nations was created. But all previous attempts, starting in 1979, have failed because rivalries between countries and regions blocked agreement on how to expand the council.

The Security Council, which is responsible for maintaining international peace and security, has 15 seats. Ten are filled by non-permanent members elected for two-year terms that come from all regions of the world, and there are five permanent members with veto power whose support is essential for any reform to be adopted - the U.S., Russia, China, Britain and France.

In 2005, world leaders called for the council to be ``more broadly representative, efficient and transparent.'' The General Assembly's last session, which ended in September, asked the current session to start intergovernmental negotiations on council reform by Feb. 28.

German Ambassador Thomas Matussek, whose country is seeking a permanent seat as a reflection of its economic might, said prospects for compromise ``are better than they were before, because against the backdrop of the international financial and economic crisis everybody talks about global governance.''

The question, he said, is whether countries want the world to be run by small groups of economically and politically powerful nations or ``by the only legitimate global institution that we have, and that is the UN''

Italian Ambassador Giulio Terzi di Sant'Agata, whose country recently hosted a ministerial meeting of 80 countries to discuss remaking the council, said that ``everybody feels the pressure of the international situation - be it in the peace and security (area), be it in the financial aspect.''

But Chinese Ambassador Zhang Yesui said he viewed the negotiations as a continuation of talks in the assembly's working group. ``The problems remain,'' he said. ``We have to see how people present their views in this new forum.''

D'Escoto said the first negotiations, on March 4, will tackle the different categories of Security Council membership. That session will be followed by meetings on the veto and regional representation later in March.

The size of an enlarged council and its working methods as well as the relationship between the council and the General Assembly will be up for consideration in April.

A second round of negotiations is scheduled for May. Chances for a deal remain to be seen, and some diplomats said talks could stretch into next year.

Deep divisions forced the General Assembly to shelve three rival resolutions to expand the Security Council in 2005:

- The so-called Group of Four - Germany, Japan, Brazil and India - aspired to permanent seats without veto rights on a 25-member council.

- A group of middle-ranking countries, including Italy and Pakistan, wanted a 25-member council with 10 new non-permanent seats.

- The African Union, whose 53 members argue that their continent is the only one without a permanent seat on the council, wanted to add 11 new seats: six permanent seats, including two for Africa with veto power, and five non-permanent seats.

Calling Thursday's launch of negotiations ``a significant event,'' British Ambassador John Sawers said ``the need for change is great.''

``The current climate of economic instability has highlighted the need for strong, representative and effective international organizations,'' he said.

But Sawers cautioned that in undertaking reforms, ``we have to ensure that this council remains capable of taking the effective action necessary to confront today's security challenges.''

US Ambassador Susan Rice echoed this view, saying President Barack Obama's administration supports council expansion ``in a way that will not diminish its effectiveness or its efficiency.''

``We will make a serious, deliberate effort, working with partners and allies, to find a way forward that enhances the ability of the Security Council to carry out its mandate and effectively meet the challenges of the new century,'' she said.

China's Yesui said Beijing supports expansion of the Security Council ``and we think priority should be given to an increase of the representation of developing countries, particularly from African countries.''

Pakistani Ambassador Abdullah Hussain Haroon called Thursday's meeting ``an important starting point'' and reiterated his government's support for regional rotation of seats on the council to ``give everyone a fair chance.''