Times Chennai E-paper, March 12, 2009

VOL: 2 ISSUE 55

March 12, 2009

Confident of organising free and fair polls: CEC Navin Chawla Chennai, March 12: E l e c t i o n Commission on Thursday expressed confidence on organising "free, fair and transparent" Lok Sabha

taken against such persons in the upcoming elections. With a view to preventing excess use of

elections, which is scheduled between April 16 and May 13. "We aim for free, fair and transparent elections in the country, let alone a state, there is no doubt about it," Chief Election Commissioner designate Navin Chawla, who is here to hold review meeting with the state's Chief Electoral Officer, told reporters. H e w a s answering a query on reported comments of Andhra Pradesh DGP praising the ruling Congress in that state, and whether free and fair elections were possible there under such circumstances. Chawla assured that the EC was taking all steps to ensure free and fair elections such as video recording of required proceedings and deploying officials to monitor them. "In the recent six state Assembly elections, we found surrogate candidates contesting as independents, using all the facilities given by the EC in good faith," he said, adding that strict action would be

money, Chawla said officials from the Income Tax will be posted on poll duty who will report to the EC. Highlighting the EC's efforts in this regard, Chawla recalled the recovery of Rs 40 crore in cash and other 'freebies' during Karnataka Assembly elections, which were allegedly meant for voters. On the issue of Andhra Pradesh DGP allegedly praising the ruling Congress, Chawla said he would look into the matter during his review meeting in Hyderabad scheduled later in the day. Responding to a query, he said the model code of conduct was in place and the EC had circulated a list of "Dos and Donts" to the respective state governments. Quoting his meeting with the Chief Electoral officer (CEO)of the state, Chawla said issuing of 97 per cent of Electoral Photo Identity Cards (EPIC) was over in

Ta m i l N a d u a n d described it as "highest percentage in India by all standards." The rest would be issued in the next couple of weeks, he

added. Chawla is said to have instructed the CEO to give priority to the "landless poor" as well as the "urban poor" in this regard, "since they may not have other

forms of identity" (proof). "Multiple forms of identification," could be furnished by voters who did not get their EPIC, Chawla said. Poll officers and poll staff

have been instructed to strictly register all forms of identity proof. He warned against "defacement of public property" in the form of posters or graffiti.

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Times Chennai E-Paper

March 12, 2009

Redefining the role of language seminar gets underway Chennai, March 12 A two day seminar on role of language in higher education got underway at

the SRM University on Thursday. The seminar was inaugurated by To m o n o r i M I N O W A Consul, Consulate General of Japan at Chennai. Speaking on the occasion, Dr. T P Ganesan Pro Vice Chancellor, said, “In all the magnificent improvements and gradual developments of mankind, communication plays the most significant role. From the primitive age to the modern era, this universe has been relying on different modes of communication. Today, any progressive nation needs to maintain international co-operation and understanding. English stands as an unmatchable language to meet this demand.” “The modern

English teacher assumes more significant role unlike the previous generations, they have to prepare the students in

developing their communication skills to get them ready to face the challenges ahead of them when they are out of the college in the job m a r k e t . T h e i r potentialities and capabilities are judged by their communication abilities. Hence the task of the language teacher is becoming more and more important, difficult and complicated,” he added. M r. M i n o w a stressed the importance of learning a foreign language especially English which has changed his lifestyle and opened up more opportunities. M r . P ManiDirector Regional Institute of English, South India emphasized

the need for a curriculum i m p a r t i n g communication skills and improve vocabulary than grammatical instructions

in higher education. The present conference will focus on identifying new methods in the realm of language teaching and learning and thereby improving the language skills of the students to cater to the present would where knowledge explosion and tremendous c h a n g e s a r e continuously taking p l a c e i n a n unprecedented level in all the fields such as education, industry, c o m m e r c e , communication and the entire gamut of other social and environment scenario. E a r l i e r University Registrar Prof. Sethuraman welcomed the gathering.

Jaya flays CM on Lanka fast comments Chennai, Mar 12 AIADMK General Secretary J Jayalalithaa today said she would ensure that the funds raised during her fast on March 9 reached the suffering Tamils in Sri Lankan through the International Red Cross ''overcoming all obstacles put in the way'' by Tamil Nadu Chief Minister and DMK President M Karunanidhi. Reacting to Mr Karunanidhi's statement yesterday in which he ridiculed the former Chief Minister's claim that India rushed medicines and medical equipment to Colombo only afer she observed a fast in support of them, Ms Jayalalithaa said his statement only

showed that he wanted to stop the funds raised from reaching the suffering Lankan Tamils. In a statement here this morning, the former Chief Minister said though she observed the fast on March 9, she had announced the agitation on March 5, giving enough time for the Centre to make arrangements to send the medical relief to Colombo. Assailing the Chief Minister for remaining silent when New Delhi was sending arms and modern Defence equipment to Sri Lanka to fight the rebels and giving training to the island nation's Defence

forces, Ms Jayalalithaa said he had no right to take up the issue of Sri Lankan Tamils. Ms Jayalalithaa also said the people of Tamil Nadu were bracing to teach Mr Karunanidhi a befitting lesson for his alleged cooperation in destroying Lankan Tamils. Her reaction came as Mr Karunanidhi wondered if it was possible to send 25 tonnes of medicines and medical equipment in a day after the AIADMK leader observed a fast in support of the Sri Lankan Tamils. -Agencies

Chennai lawyers clash: High Court rejects striking lawyers plea Chennai, March 12: Rejecting pleas by agitating advocates to immediately hear their

yesterday pleaded before a Bench comprising Chief Justice

petition regarding alleged police excesses in the court premises on February 19, the Madras High Court has asked them to return to work. When senior lawyers T V Ramanujum and R Krishnamurthy

H L Gokhale and Justice F M Ibrahim Kallifulla that the matter be taken up immediately, they were told their petition was being heard by a threejudge Bench headed by J u s t i c e S J Mukhopadhaya.

"When a Bench is seized of the matter it is not proper for it to be withdrawn from that Bench," Justice Gokhale said. The advocates then argued that Justice Mukhopadhaya was indisposed. The chief justice replied that Justice Mukhopadhaya could come to the court any day, adding it was not the first time that a judge was unwell and the matter could wait. Advocates have been boycotting work ever since February 19 when they clashed with police within the high court premises after 13 lawyers were arrested in connection with the attack on Janata Party chief Subramanian Swamy in the court on February 17. -Agencies

PM calls CM, wishes speedy recovery Chennai, Mar 12: Prime Minister Manmohan Singh today telephoned Tamil Nadu Chief Minister M Karunanidhi and enquired about his health and wished him speedy recovery. Dr Singh called

Mr Karunanidhi, who was taking rest at his residence after spinal surgery on February 11 and wished him complete recovery and return to office soon, an official release here said. Thanking Dr Singh, the Chief Minister

also enquired about the Prime Minister's health following a recent heart surgery. The Prime Minister told Mr Karunanidhi he was keeping good health and resumed official work, the release said.

March 12, 2009

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Times Chennai E-Paper

National

Left, key regional parties launch Third Front (Karnataka), March 12: Launching the 'third force', the Left and major regional parties on Thursday joined hands to

take on the Congress and the BJP in the upcoming general elections, saying both of them had failed to address people's grievances. Addressing a massive rally here, leaders of these parties announced that they had come together to provide a "new alternative" to the voters ahead of the Lok Sabha polls. “This is a historic get together of all democratic, secular and Left parties in the country to declare that we are all coming together to constitute a third force in this country," CPI(M) General Secretary Prakash

Karat said. He said the third force stood for the interests of the vast masses for the firm defence of secularism against communal forces. The platform, he said, would fight for s o c i a l justice for t h e oppressed sections. Joined by CPI leader A B Bardhan, T D P c h i e f N Chandrababu Naidu and former Prime Minister and JD(S) chief H D Deve Gowda among others, Karat said, "Today we have come together because the country needs a new alternative." Recalling the formation of the United Front government headed by Gowda 13 years ago, Karat said people came to know in 1996 that "the future of this country does not lie either with Congress or the BJP." He said the UF then comprised all secular, democratic and

regional parties, along with the Left to provide an alternative to the Congress and BJP. He said even after 60 years of independence, both the major parties had "failed to fulfil the aspirations of the people.” Rebutting Congress claims of a nine per cent economic growth rate, Karat asked as to what it meant for the common people and said the country still witnessed the "shameful spectacle" of farmers committing suicide and people facing the brunt of high unemployment and rising prices. " L i f e i s unbearable for the ordinary people," the CPI(M) leader said, adding that on top of this, the global economic crisis had led to loss of millions of jobs and the crash of the world financial system and banks. Though the chiefs of AIADMK and BSP, J Jayalalithaa and Mayawati, skipped the function, their representatives V Maitreyan and Satish Chandra Mishra were present.

Killing another in self-defence is one's right: Supreme Court New Delhi, March 12: Thirty years after they killed a man, the Supreme Court on Thursday let off two accused holding that they were entitled to acquittal as the act was committed in exercise of self-defence which is permitted under the law. A person can kill another when there exists a reasonable apprehension that his adversary is going to cause him/her grievous injury even though he might not have actually inflicted any, the Supreme Court ruled. "In that event he can go the extent of causing the latter's death in the exercise of the right of private (self) defence even though the latter may not have inflicted any blow or injury on him," a bench of Justices Dalveer Bhandari and H S Bedi observed. The bench passed the ruling while dismissing an appeal filed by the UP Government challenging the acquittal of Gajey Singh and Rajpal Singh in a murder case that occurred on January 27, 1979 in Meerut town following an old enmity.

In this case, Lakhi Ram along with a few others had gone to the place of Gajey and Rajpal where a scuffle took place and the duo was assaulted with sharp weapons. In retaliation, Rajpal at Gajey fired a shot resulting in the death of Ram. The trial court convicted the duo for murder and sentenced them to life imprisonment, but the accused were acquitted by the Allahabad High Court which held that they committed the act in self defence. Aggrieved by the High Court's verdict, the State Government appealed in the apex court. Interpreting Section 100 of the IPC, the apex court said the law justifies the killing of an assailant under the "right of private defence" which was rightly exercised by Gajey and Rajpal. According to Section 100 of the IPC, killing of another person is not an offence, if the same was done in the exercise of self-defence. In the instant case, the apex court said that there

was sufficient evidence to indicate that Ram and his accomplices had come to the house of the accused and assaulted them with sharp weapons resulting in grievous injuries to both of them. "In such a situation, accused persons could have a reasonable apprehension of death or at least of grievous hurt. It was a case of single gun shot which was not repeated. Therefore, it cannot be said that the accused persons had exceeded their right of private defence in any manner," the bench observed.

March 12, 2009

SP accused of 'cash distribution' Ettawah, March 12: Samajwadi Party chief Mulayam Singh Yadav has landed into trouble for alleged poll code violation, as his party

members were seen distributing money to people during Holi celebrations here on Wednesday.

Election Commission has ordered the District Magistrate to submit a report on into allegations of violation of election code. “We have sought a report from the district magistrate in this regard” Chief Electoral Officer, AK Bishnoi said. H o w e v e r, refuting the charge, Mulayam Singh said that all the allegations are false and he is ready for a n y investigation. The news r e g a r d i n g distribution of money at a "Holi Milan" programme in Mulayam Singh Yadav's native Saifai in Etawah district was aired by some news channels. Some persons,

allegedly SP workers, were shown distributing Rs 100 notes to the people assembled for the holi milan programme. Alleging that both SP and BSP were flouting the model code of conduct, BJP state Vice President Hriday Narain Dixit said his party would register a formal compaint in this matter with the EC. "Yadav is habitual offender of model code of conduct and the Commission should immediately take action against him. The way in which money is openly distributed in his presence at Safai should not be tolerated", Dixit alleged. He added that the video of the programme was available and Commission could easily verfiy the facts. -Agencies

Teacher in Kerala has Gandhi's ‘charkha' in his collection Thrissur, Mar 12: Close on the heels of the auction of Mahatma Gandhi's memorabilia, a 68-yearold teacher here has claimed that he has a 'charkha' (spinning wheel) used by the father of the nation during his historic Dandi March. A retired teacher and antique c o l l e c t o r, A n t o n y Chittatturaka said he obtained the priceless articles from Gandhi's disciple Raghavji. Antony said he has a pinch of bloodsoaked sand taken from the spot in Delhi where Gandhi fell to Nathuram Godse's bullets and letters and post cards penned by the Mahatma with signatures appended to them. He also has a gramaphone record of Gandhi's speeches delivered at his prayer meetings. Though there have been enquiries from various quarters

about these articles, Antony said that he would not give them away under any circumstances. "They might bring me a big sum. But I don't want to part with them so long as I am alive since their emotional value is much higer than material value," he said. Of the ten letters Antony has in his possession, two were written on post cards. The post cards, sent by Gandhi to Raghavji, carry the dates of February 2 and July 6, 1931. The charkha and the letters were gifted by the Mahatma to his disciple Naduvilpatt Raghavan Poduval, an inmate of the Sabarmathi Ashram, from whom Antony obtained them. The foldable charka was used by Gandhi during his famous Dandi Yatra. It was also believed that the same 'charka' was

carried by Gandhi when he had gone to attend the Round Table Conference in London, according to Poduval, popularly known as Raghavji, Antony said. Antony met Raghavji in 1965 when he was a teacher at the Gandhi Seva Sadan School near Ottapalam in Palakkad district. At that time Raghavji was staying in a Gandhi Ashram near Shornur. The pinch of sand soaked by Gandhi's blood was collected from P P Nambiar of Thalassery, a retired subedar, who was on the spot when Gandhi was shot dead by Nathuram Vinayak Godse on January 30, 1948. Nambiar was part of the contingent guarding the residence of then British Governor General Lord Mountbatten. Shocked by what he had witnessed, Nambiar collected the pinch of soil where Gandhi's blood had spilled.

Pak turmoil: Manmohan Singh reviews situation at CCS New Delhi, March 12: With Pakistan plunging into political turmoil, Prime Minister Manmohan Singh on Thursday took stock of the situation at the Cabinet Committee on Security (CCS), which he chaired for the first time since his bypass surgery about seven weeks back. T h e C C S a s s e s s e d t h e

implications of political instability in Pakistan, particularly on crossborder terrorism which affects India directly, sources said. The meeting was also attended by External Affairs Minister Pranab Mukherjee, Defence Minister A K Antony and Home Minister P Chidambaram. Pakistan is witnessing

political crisis leading to speculation that there could be a change of guard with army assuming greater role. Mukherjee d e s c r i b e d t h e developments in Pakistan as its "internal matter" but said India wants to see the government in the neighbouring country stable so that it can tackle

terrorism emanating from there. “ We d o h o p e these issues will be resolved by their own system and by their own mechanism," Mukherjee told reporters after the CCS meeting when asked to comment on the developments in Pakistan. -Agencies

March 12, 2009 Times Chennai E-Paper

World

Pak PM Gilani, army chief Kayani reach compromise Islamabad: March 12: Pakistan Prime Minister Yousuf Raza Gilani and chief of army staff General Ashfaq Parvez Kayani have

reached a compromise formula, in an attempt to address the growing political turmoil, Pakistani media reported on Thursday. Gilani, reports said, is contemplating a series of actions to address the political crisis. The prime minister is preparing for these actions following

another one-on-one meeting with Kayani. The situation in Pakistan has already caused serious concern in Washington where US President Obama's administration is increasingly worried that Pakistan, because of this political turmoil, is fast losing focus from the war against terrorism. Gilani was made aware of this concern in London a n d Wa s h i n g t o n when the United States and the British ambassadors in Islamabad met him. G i l a n i i s devising a strategy that can make way to reverse governor’s rule in the Punjab. The PM is also l o o k i n g i n t o Constitutional action to undo the Supreme Court disqualifications of

Nawaz and Shahbaz Sharif and options available to reinstate Justice Iftikhar Muhammad Chaudhry and other judges. Gilani is bitter that though he didn't approve the idea of governor’s rule in Punjab the presidential proclamation for governor’s rule mentioned him as advising the president for this action. Pakistan army is backing the PM’s i n i t i a t i v e f o r reconciliation on road to establishing strong trust base for democratic institutions and leadership. Gilani is hoping that PPP parliamentarians seeing survival of democracy and continued PPP-led government in the Centre would back him in the Parliament. -Agencies

Germany mourns after school shooting Winnenden, March 12: Germany was in mourning on Thursday after a teenage gunman ran amok at a school and the local area, killing at least 15 people and finally himself in a shootout with police. Seventeen-yearo l d Ti m K r e t s c h m e r Wednesday burst into his former secondary school in Winnenden, a picturesque town in southern Germany, and opened fire, leaving nine pupils aged between 15 and 16 and three teachers dead. Another three bystanders also died during a massive manhunt involving hundreds of armed police commandos and snipers in black body a r m o u r, a s s i s t e d b y helicopters and dogs. Less than three hours after the killing spree began, the gunman eventually turned his weapon on himself after being injured in a fire-fight with police, bringing the death toll to 16. A visibly shaken Angela Merkel, Germany's Chancellor, described the c r i m e a s "incomprehensible". "It is a day of mourning for the whole of Germany. Our thoughts go out to the families and the friends. We are thinking of you and we are praying for you," she added. Interior Minister Wolfgang Schauble ordered flags across Germany to be flown at half mast Thursday as a mark of respect for the slain. Church services took place Wednesday in the town, which has a population around 27,000. The slaughter started at 9:30 am (0830 GMT) when Kretschmer entered the school he left last year, pulled out his nine-millimetre pistol and began his bloody rampage.

" H e w a s constantly reloading his weapon," local police chief Konrad Gelden told reporters. "He just opened the door, pulled out his gun and started shooting," one pupil said on German television. "One person saw someone shot in the head." "My brother was in the classroom in which it happened," said another. "He was sitting next to his girlfriend and she was shot." Kretschmer went into classroom 10d three times, the Bild daily said on its website, hissing on the third visit: "Aren't you all dead yet?" A teacher threw herself in front of a female pupil -and was shot by the gunman, Bild said. All but one of the nine pupils killed at the school were girls, and the three teachers were women, said Heribert Rech, interior minister of the southern state of Baden-Wuerttemberg where the slaughter took place. "I don't want to speculate too much about this at this point ... The pupils sitting nearest the door were girls," he said. H o w e v e r, officials said the killer apparently had no motive for the bloodbath and there were no indications that he held a grudge against the school. "The gunman wanted to destroy an entire school," Rech told reporters. "He was c o m p l e t e l y unremarkable." Kretschmer had achieved "average" marks in his schoolleaving certificate and then enrolled in a course to be a salesman, Rech

said. He also regularly worked out at the gym and belonged to a sports club. The school, which has 600 pupils, was part of a complex of several other schools with a total of 1,700 students aged from six to 19. We d n e s d a y ' s massacre was one of the worst school shootings in Germany in recent years. In April 2002, 19-year-old Robert Steinhaeuser, a disgruntled student from Erfurt in eastern Germany who had been expelled, killed 16 people before turning the gun on himself. In November 2006, a former student at a vocational school in Lower Saxony in northwestern Germany went a shooting spree in the establishment, injuring 37 people before killing himself. The German school shooting came just hours after a gunman went on the rampage in the southern US state of Alabama, killing 10 people before also turning the gun on himself. In the late afternoon, eight hours after the first shots were fired, the town, bathed in weak sunlight, still seemed to be in a state of shock. Only policemen in green uniforms were still on the streets, the commandos in black camouflage long since back in their barracks. After the screams and police sirens that had broken the calm of this picturesque southern German town, silence reigned. Bureau Report

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CPPCC session concludes, vows to help develop economy Beijing, March 12 : The Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) concluded here Thursday morning, pledging efforts to help maintain steady and relatively fast economic development in 2009. Jia Qinglin, chairman of the CPPCC National Committee who presided over the closing meeting, described the annual session as a success in boosting confidence and strengthening unity for China's development. "This year is crucial for us to brave grave challenges both at home and abroad and achieve new progress," Jia said. He urged the political advisors to shoulder their responsibilities, keep in mind the people's wellbeing, and contribute to the national effort to maintain steady and relatively fast economic development. The meeting adopted the work report of the 11th CPPCC National Committee's Standing Committee over the past year, and a report on how suggestions and proposals from CPPCC members were handled since the last session. A total of 1,987 members of the 11th CPPCC National Committee had submitted 5,571 proposals on economic d e v e l o p m e n t , government building, democracy and the legal system, among others, by 2 p.m. on March 8. According to the report on the handling of proposals, political advisors attached great importance to issues related to people's wellbeing. They raised 551 proposals on maintaining economic growth, calling f o r e ff o r t t o b o o s t economic restructuring and expand domestic demand under the backdrop of the global financial crisis. Their proposals also include 603 on farmers and agricultural and rural development, 632 on employment, 301 on social security, 657 on education, 426 on medical services and health care, 146 on food safety, and 294 on promoting democracy and the rule of law, says

the report. The Committee for Handling Proposals of the CPPCC National Committee called two special meetings during the 10-day annual session, focusing on employment of returned migrant workers and stimulation of domestic demand for steady and relatively rapid economic growth. Major officials from key government departments such as the National Development and Reform Commission joined in discussions about how to handle the proposals at the two meetings. According to the report, the CPPCC National Committee will hold a meeting on March 24, when the proposals will be transferred to 168 g o v e r n m e n t departments and units for further handling. A political resolution also adopted at the closing meeting hailed China's achievements over the past year, saying that the Communist Party of China (CPC) Central Committee had led people of all ethnic groups in advancing socialist economic, political, cultural and social development and ecosystem preservation despite major challenges rarely seen in history. "Maintaining steady and relatively fast economic development was the principal task in this year's economic work in China," says the resolution, calling on CPPCC members to perform their duty earnestly to help mitigate the impact of the global financial crisis on the country. It urged political advisors to continue researches on macroeconomic regulation, agriculture, expanding domestic demand, industrial restructuring, export, education and social security, in order to provide important references for the CPC and government in the policy making process. The resolution also urged political advisors to give priority to social harmony. The members from the ethnic minority and religious circles in particular were required to work hard to promote unity among all ethnic groups and harmony among people with different religious

belief. Hailing the major breakthroughs made in the relations across the Taiwan Straits over the past year, the resolution called for more efforts to help expand economic cooperation and personnel and cultural exchanges across the Straits for new progress in peaceful development of cross-Straits relations. "We also support CPPCC members from Hong Kong and Macao to work actively in the local social and political affairs and encourage them to contribute to the country's development and social s t a b i l i t y, " s a y s t h e resolution. The year of 2009 marks the 60th anniversary of the founding of New C h i n a a n d t h e establishment of the CPPCC, and CPPCC members should uphold the unique role of the political organization and continue to improve the system of multiparty cooperation and political consultation under the leadership of the CPC, it said. The CPPCC is a patriotic united front organization of the Chinese people, serving as a key mechanism for multiparty cooperation and political consultation under the leadership of the Communist Party of China (CPC), and a major manifestation of socialist democracy. Members of the C P P C C a r e representatives of the CPC and non-Communist parties, personages without party affiliation, and representatives of people's organizations, ethnic minorities and various social strata. The CPPCC also has the representation of compatriots of Hong Kong, M a c a o a n d Ta i w a n , returned overseas Chinese, and specially invited people. Top CPC and state leaders Hu Jintao, Wu Bangguo, Wen Jiabao, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang were present at the closing ceremony. The CPPCC annual session ran parallel to an annual session of China's to legislature, the National People's Congress (NPC). The CPPCC National Committee members listened to the work reports of the government along with deputies to the NPC. -Agencies

Times Chennai E-Paper Business

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Satyam sale process underway; bidders face deadline Bangalore, March 12: Fraud-hit Satyam Computer Services closes registrations for potential bidders on Thursday, kicking off a process to sell a majority stake in the company caught in the country's biggest corporate scandal. Some firms are likely to put in expressions of interest, attracted by Satyam's strong client base and its large workforce, but final bids will depend on clarity on Satyam's finances and legal liabilities. S a t y a m ' s government-appointed board is keen to bring in an investor to restore confidence among its roughly 50,000-strong staff and more than 600 customers, which include General Electric and Qantas Airways. "We will see many companies registering their interest by the end of the deadline today, but it remains to be seen how many of them will stay the course after the due diligence," said Tejas Doshi, head of research at Bombay-based Sushil Finance. Satyam has said it would provide shortlisted bidders access to certain business, financial and legal information. "Unless the Satyam board makes available enough data based on which a buyer can put a value to the company, I don't think there will be many left in the final stages of bidding to take a

shot in the dark," Doshi said. Satyam has been struggling for survival since founder a n d C h a i r m a n Ramalinga Raju shocked investors in January, saying Satyam's profits had been overstated for years and assets falsified. T h e government intervened quickly and appointed new board members and state-run financial companies have provided funding to the beleaguered firm. Raju, the managing director and the chief financial officer quit and were later arrested. Satyam, whose shares jumped nearly 40 percent in the previous two sessions, eased 1.9 percent to 47.8 rupees by 0815 GMT on Thursday. The company's market value has plunged to $630 million from $7 billion last May. BIDDERS A spokesman for the top engineering firm, Larsen & Toubro Ltd, which controls about 12 percent of Satyam, said it would submit its interest to acquire the company. Bidders need to register their interest by end of Thursday to buy a 51 percent stake in Satyam. They will be asked to submit a detailed expression of interest and show availability of at least 15 billion rupees ($290

million) by March 20. Analysts say global IT services companies are unlikely to join the race for Satyam. Capgemini, Europe's largest computer consultancy, has no interest in buying a stake in Satyam, a spokesman said on Wednesday. Earlier, sources said IBM was unlikely to be interested in bidding. A n o t h e r potential suitor, diversified Hinduja Group, said it had not yet decided whether to submit its bid interest. Meanwhile, Te l e c o m s o f t w a r e company Tech Mahindra today said it has registered its expression of interest (EoI) for participating in the bidding process of Satyam Computer Services. "Once the company receive the RFP (request for proposal) it will evaluate and conclude on next step," the company said in a statement. Registering does not essentially mean any company would appear in the final bidding process. Shares of Tech Mahindra were quoted at Rs 267.55 at BSE in afternoon trade, up 1.71 per cent over the previous close. Satyam's board had appointed KPMG and Deloitte in January to restate accounts.

Inflation dips to 2.43% New Delhi, March 12: Inflation fell for the sixth consecutive week, to 2.43 percent, the lowest in over six years, as prices of food items like pulses, dairy products and edible oil softened further in the last week of February. Even the prices of manufactured items, including iron and steel, textiles, chemicals and batteries, declined during the week ended February 28. Wholesale prices-based inflation is now at a level seen in June 2002, by falling 0.6 percentage points from 3.03 per cent a week ago. It was 6.21 percent during the corresponding week a year ago. Te r m i n g t h e decline below 3 percent on expected lines, economists expect inflation to reach zero in the next couple of months. "This is on expected lines. It was during last February and March that inflation spiked. The prices of commodities, primarily oil and foodgrains, have moderated," said Chief

Statistician of India Pronab Sen. According to ICRIER Director Rajiv Kumar, "It is no surprise. In fact, we should now begin to start worrying about deflation. We could see zero inflation in 2-3 months." During the week, the prices of maize, arhar and moong declined by one per cent each. Dairy products fell by about 2 per cent while edible oil also fell by about one per cent. A m o n g manufactured products, prices of textile items like nylon filament yarn declined by two per cent while sacking bags fell by one per cent. At the same time, steel ingots were cheaper by as much as 13 percent and batteries prices softened by three per cent. The fuel index remained unchanged at its previous week's level of 323.5. During the week, prices of fruit and vegetables and bajra were expensive by two percent each while bakery products and

masur prices firmed up by one per cent each. Elsewhere, cement and some inorganic chemicals prices also firmed up. The declining inflation has also raised hopes of further cuts in the benchmark rates by the Reserve Bank to spur the economy as industrial production declined for the second month in a row to 0.5 per cent in January 2009. Crisil Principal Economist D K Joshi said, "I believe there could be a cut of 50 basis points in both the repo and reverse repo rates next month." Last week, the RBI slashed the shortterm lending and borrowing rates -- the repo and reverse repo -by 50 basis points to arrest economic slowdown with India's GDP growth falling to over a five-year low of 5.3 per cent in Q3. Inflation for the week ended January 3, 2009, was revised upward to 5.33 per cent from 5.24 per cent in the provisional estimates. -Agencies

March 12, 2009

Industrial growth turns negative again, contracts by 0.5 percent in Jan New Delhi, March 12: Industrial output showed negative growth for the second month in a row, the decline being 0.5 percent in January, highlighting that stimulus packages failed to perk up manufacturing as well as mining so far. This is the first

time in 16 years that industry shrank for two consecutive months. As such, the partial recovery in November proved an aberration in recent months with industrial growth turning negative in October, December and January. Manufacturing output, having a weight of around 80 per cent in the Index of Industrial

Production (IIP), declined by 0.8 per cent and mining production by 0.4 per cent in January, leading to negative industrial growth against a 6.2 per cent growth rate in the same month of 2008. H o w e v e r, electricity generation rose, though at a slow pace of 1.8 per cent against 3.7 per cent a year ago. This c l e a r l y showed that stimulus packages have not given industry the desired boost. "All three stimulus packages have not picked in. The industrial production figures would not reflect their impact," Chief Statistician Pronab Sen said. The fall in industrial production in December was not as steep as initial estimates showed last month. The revised figures show that production contracted by 0.63 per cent against the

earlier estimate of 2 per cent. This gives some hope for January figures too getting better. "Given the last three-four months' trends, it (January figures) could result in upward (movements) after revised estimates come," Sen said. In terms of specific industries, 12 out of 17 sectors showed decline in growth in January. The highest fall in production, 16.1 per cent, was witnessed in food products, followed by wood and wood products (15.2 per cent) and transport equipment and parts (13.4 per cent). Among those that showed positive growth, the production of machinery and equipment other than transport was up 17.5 per cent. With fiscal packages failing to propel industry, economists are not sure whether only the RBI's measures to ease liquidity will push up demand as there is a model code of conduct for the Government restricting the announcement of any more such measures. -Agencies

Nano may find it tough to enter Europe: Audi Ingolstadt (Germany), March 12: Tata's small car Nano may not be able to enter Europe due to stringent safety and emission norms, leading German luxury carmaker Audi said joining the list of auto players, who are sceptical about the prospects of the world's

they faced problems," Audi AG Member of the Board (Finance and Organisation) Axel Strotbek said. Asked if Nano could also face such difficulties in entering into Europe, he said: "Yes ... I don't think it will come here." Axel said that

cheapest car. Nano has always elicited sharp reactions from rival carmakers, including Maruti Suzuki, about its compatibility with safety norms, which Tata Group Chairman Ratan Tata has been challenging. "Entering (by any model) the US and European market is very tough due to very stringent security and consumption regulations. Many Chinese carmaker had earlier tried to enter Europe, but could not as

safety, fuel efficiency and emission norms are very important for the European customers, "which I am very apprehensive of getting in this price (Nano's price)". Last week, India's largest auto m a k e r Ta t a M o t o r s unveiled the European version of Nano at the Geneva Motor Show and received huge applause from car enthusiasts. The company plans to launch 'Nano Europa', loaded with additional safety

features and complying with Euro V emission norm, by 2011. Nano would be launched in India on March 23, booking for which would start from the second week of April. It was originally to be launched in the secondhalf of 2008, but was delayed after the company was forced to shift manufacturing base from Singur in West Bengal to Sanand in Gujarat. The company's website featuring Nano has registered 30 million hits or visits since the car, with a base-price tag of Rs 1,00,000, was first unveiled. The company had announced the lowcost car project in 2006. The hatchback car features a 624-cc petrol engine and the company claimed that Nano would give a mileage of 20 km per litre. Its engine is located on the rear and the boot space in the front. Tata Motors chief Ratan Tata had last year said that he would retain the price tag at Rs 1,00,000 (for the base model) despite input costs shooting up. But since then, steel prices have plunged by up to 40 per cent from early 2008 levels and overall demand in the economy too has witnessed a slump.

March 12, 2009

Times Chennai E-Paper

Business

Sensex up 183 pts, closes at 8,343 Mumbai, March 12: The Bombay Stock Exchange benchmark Sensex on Thursday gained over 183 points amid investors indulging in catching up with the rise in the US stock markets and inflation declining to over a six-year low. After the market opened after two holidays, the Sensex surged to 8,439.71 before winding up at 8,343.75, revealing a gain of 183.35 points. The rally was led by Reliance Industries, Infosys Technologies and ICICI Bank, which carry nearly a 27 per cent weight in the index. Inflation fell to nearly a seven-year low of 2.43 per cent for the week ended February 28. The 50-share National Stock Exchange index Nifty rose by 44.30 points to 2,617.45, after touching the day's high of 2,646.50 points. A steep fall in

index-linked Bharti Airtel stocks by 6.37 per cent to Rs 550.30, after reports that the company CEO sold his entire holding, trimmed market gains. A weak opening at the European stock markets this afternoon further checked the upsurge in the domestic stock prices and even reduced gains. The overall shape of the market was better as Reliance Industries, with the heaviest weight in the Sensex, surged Rs 4.1 per cent to Rs 1,201.95 on reports that the company resumed crude oil production from its MA-I field in the east coast block this week. The secondlargest tech-major Infosys Technologies rose by 2.54 per cent to Rs 1,227.15. Banking stocks led by ICICI Bank and HDFC Bank surged,

coinciding with a worldwide rally in financial companies as JPMorgan Chase and Citigroup said they were profitable this year. The US Dow Jones Industrial Average recorded a handsome gain of nearly 7 per cent in the last two sessions. ICICI Bank, the second-largest lender, rose for the first time in seven days, climbing 8.1 per cent to Rs 284.25, and Axis Bank by 8.35 per cent to Rs 304.35. The rebound in banking stocks led the rally even as industrial production declined in two consecutive months, for the first time in 16 years. Output at factories, utilities and mines fell 0.5 per cent in January from a year earlier after a 0.6 per cent drop (revised figure) in December. The auto index was the front-runner,

surging 3.70 per cent to 2,695.27, following reports of vehicle sales rising in February. The banking index was the second-best performer, rising 3.33 per cent to 3,754.22, followed by the oil and gas index, which rose 3.21 per cent to 5,814.64. The metal index gained 2.87 per cent to 4,566.46, the IT index 2.38 per cent to 2,073.53, the FMCG index 2.25 per cent to 1,843.27, the capital goods 2 per cent to 5,562.47, the healthcare index 1.23 per cent to 2,549.78, the PSU index 1.06 per cent to 4,725.20, the power index 0.54 per cent to 1,623.83 and the realty index 0.44 per cent to 1,309.41. However, the consumer durable index fell 1.30 per cent to 1,452.44 and teck index by 0.09 per cent to 1,634.12.

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Hinduja group opts out of Satyam bidding process New Delhi, March 12: The Hinduja group has decided not to participate in the bidding process of Satyam Computer. “We have not put in any expression of interest for Satyam," Hinduja group CFO Prabal Banerjee said. Asked about the reason for not participating, he said, "As the bidding process has started, as a responsible corporate citizen we would not like to divulge the reason for our decision. -Agencies

Central Bank freezes home loan rate at 8 pc for one-year Mumbai, March 12: Public sector lender Central Bank of India has frozen lending rate on new housing loans up to Rs 20 lakh at eight per cent for a period of one year. The bank has targeted to disburse an additional Rs 500 crore of home loans by April end with the introduction of the new scheme, a statement said here on Thursday. Lending rates for loans between Rs 5 lakh and Rs 20 lakh would now be offered at eight per cent as against 9.25 per cent earlier, the bank said. After one year, this rate would be reviewed according to the prevailing market situations, a Central Bank official said. Customers who have been sanctioned loans between March 12 and April 30, 2009, can avail the benefit of the scheme, the bank said. In February, Central Bank had reduced its lending rate on home loans up to Rs five lakh from 8.5 per cent to eight per cent. State-owned banks started cutting their home loan rates after the country's largest lender, State Bank of India, froze its new home loan rates at eight per cent for one year recently. -Agencies

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Times Chennai E-Paper

Sports

India survives scare to move into Super Six stages New South Wales ( Australia) March 12: India survived a scare against Sri Lanka before a completing a 35run win that guarantees it a

place in the Super Six

stage of the ICC Women’s World Cup. Vice-captain Amita Sharma led a much improved bowling performance after a poor batting display had left India in all kinds of trouble. Mithali Raj (75 not out) was again the key player for India, one of only three Indian players to register double figures, as it struggled to reach 137-7 off 50 overs. But it would have been relieved to get to that total having at one stage been 35-4 and then 78-7, as some disciplined and consistent bowling restricted one of the pretournament favourites. C h a m a r i Polgampola took 2-17,

Udeshika Prabodani recorded figures of 2-20 and Suwini de Alwis achieved 2-34 in a fine all-round bowling display. A slow but steady first-wicket stand of 37 between Dedunu de Silva (21) and Chamari Polgampola (12) provided a good platform for Sri Lanka to chase its target, but once again a poor batting effort was to prove costly. Only Eshani Lokusooriya (20) provided any kind of resistance in a total of 102 all out, as Amita Sharma (3-19), Rumeli Dhar (2-10) and Gouher Sultana (2-16) led a great bowling performance. -Agencies

Kiwis leave out injury-prone Oram of first Test against India Auckland, March 12: Injury concerns have forced New Zealand Cricket selectors to leave all-rounder Jacob Oram out of the squad while including uncapped pace bowler Brent Arnel for the first Test against India in Hamilton from March 18. Oram, who has been plagued by injury, was left out since it was felt he was not fit enough for the first Test. The allrounder, who has five hundreds and 60 wickets in his kitty in 31 Tests, was replaced by James Franklin. Oram played in the one-day series against India but has been found wanting with his fitness since returning from a calf muscle strain. "He has made good progress in recovering from injury, but Jacob is not yet fully confident that his body would stand up to the rigours of a five-day game," NZC selection committee chief Glenn

Turner said. Oram will instead play first class cricket and could be considered for later Tests in the series, Turner added. The second Test starts in Napier from March 26 and the third will be played in Wellington from April 3. Returning from injury was opening fast bowler Chris Martin. The selectors also decided to reward Martin Guptill for his impressive performance in the one-dayers with a call up to the Test squad for the first time. Guptill has scored 391 runs at an average of 48.87 in 11 one-day internationals since making his ODI debut in January. Arnel's fine performance for New Zealand A against the England Lions saw him being included in the squad for the Hamilton Test. “He's bowled

well consistently over a period of time, and has the advantage of having done quite a bit of bowling in recent fourday matches," Turner said about the 30-yearold Arnel. Franklin, who has been suffering from a knee injury, earned a recall to the Test side after his good showing with the bat for the A team. New Zealand, who have already lost the five-match one-day series 3-0 with the second abandoned due to rain, named an unchanged side for the last ODI in Auckland on Saturday. Squad for first Test: Daniel Vettori (captain), Brent Arnel, Daniel Flynn, James Franklin, Martin Guptill, Tim McIntosh, Brendon McCullum, Chris Martin, Kyle Mills, Iain O'Brien, Jeetan Patel, Jesse Ryder, Ross Taylor. -Agencies

Sangakkara takes over Sri Lankan captaincy Colombo, March 12: Sri Lanka has named Kumar Sangakkara as captain for the World Twenty20 tournament in England later this year, while Muttiah Muralitharan has been appointed his deputy in the provisional 25-member squad announced by the national selection committee. The 31-year-old Sangakkara, vice-captain for three years, has played 80 tests and 246 one-day internationals. He succeeds Mahela Jayawardene, who stepped down as captain at the end of the two-test series in Pakistan which was abandoned last week after terrorists attacked the team's bus in Lahore. Sri Lanka do not have any international fixtures until the World

Twenty20 tournament which begins on June 5. Their first match is

against Australia on June 8 at Trent Bridge. -Agencies

IPL opening ceremony will be bigger and better: Modi Mumbai, March 10: The opening ceremony of the high-profile Indian Premier League`s second edition on April 10 would be bigger and more colourful than last year, its Chairman and Commissioner Lalit Modi said today. "The 2009 opening ceremony (to be held at the D Y Patil Stadium in Navi Mumbai) would be spectacular and better than last year. It will be a 30 minute visual extravaganza," Modi said while launching the new season of the T20 league rechristened as "DLF IPL" here. The organisers have planned various cultural items like "Drums of India", featuring the drummers from the five zones of the country, besides showcasing a top international roller skating duo, acrobats and fire dancers, among others.The closing ceremony, on May 24, will also be held at the same venue, Modi declared. -Bureau Report

March 12, 2009

Australia squad: Hilfenhaus, Siddle rested; Laughlin included Melbourne, March 12: Uncapped Ben Laughlin was on Thursday included in the Australian squad and allrounder Brett Geeves was rewarded for his performance against Bangladesh as the National Selection Panel announced teams for two Twenty20 and five oneday internationals against South Africa. Laughlin and Geeves will replace Ben Hilfenhaus and Peter Siddle, who are being rested from the South African one-day series as part of their workload management to prepare for key upcoming events, including the World Twenty20 and the Ashes. David Warner and Shane Harwood have also been brought in the squad but the duo will return to Australia after the two Twenty20 matches, NSP Chairman Andrew Hilditch said. "Both Peter and Ben had significant injuries during the 2008 off-season. Since returning to cricket they have had a demanding and heavy Australian season and will have completed three back-toback Test matches in South Africa," Hilditch

said in a statement. " T h e recommendation of the coaching and fitness staff was that they have time off now to allow them to recuperate and then commence a structured training program in ideal preparation potentially for the World Twenty20 and the Ashes. " T h i s recommendation is fully supported by the National Selection Panel as an appropriate strategy leading into key tournaments and in particular the Ashes," he said. Hilditch said Geeves had impressed in Bangladesh, while Laughlin was being looked as a 2011 World Cup prospect. "With this of c o u r s e c o m e s o p p o r t u n i t y. B r e t t Geeves performed well in the Top End Series against Bangladesh for Australia and has continued to perform well domestically. In addition to his bowling he is a potentially explosive batsmen and fielder and adds to the versatility of the one-day side. "We also take the opportunity to

introduce Ben Laughlin to Australian cricket. Ben has had an extremely good summer for Queensland and was instrumental in their one-day final victory. Ben will add to the versatility of the Australian bowling line up as we continue to look at options progressing forward to the 2011 World Cup," he said. On absence of Shaun Marsh, he said "It was not considered appropriate to rush him back into one-day cricket for Australia". " S h a u n i s recovering from a significant hamstring injury. He is recovering well, but further testing of hamstring strength is being undertaken and he has not been match tested at all. We would expect Shaun to be available for selection in the Pakistan one-day series," he added. The squad: Ricky Ponting (c), Michael Clarke (vc), Nathan Bracken, Callum Ferguson, Brett Geeves, Brad Haddin, Nathan Hauritz, James Hopes, David Hussey, Michael Hussey, Mitchell Johnson, Ben Laughlin, Adam Voges, Cameron White, David Warner, Shane Harwood. -Agencies

I'm in a unique phase of my career as captain: Ponting Melbourne, March 12 H a v i n g salvaged the team's pride when everyone had written off his young and inexperienced brigade against South Africa, Ricky Ponting feels he is in a unique phase of his career as the Australian captain. Ponting has guided his team to 2-0 unassailable lead in the three-match Test series against South Africa to secure the team's top position in the ICC rankings. "It's certainly a unique phase in my career as a captain. To h a v e a number of debutants, and a number of inexperienced guys, it's something I haven't been accustomed to," he said. "When these challenges came up and this transitional phase first started, I looked at it as being one of the most exciting little phases of my career. "It's even more exciting when guys like Phillip come in and fare so well right from the start. All these guys have come in, put their hands up and put their heads up

under very trying circumstances. That's what makes me proud as captain of a younger team," he told Australian media. Australia was playing with its most inexperienced side in 20 years in South Africa but recorded two thumping win to retain the world No. 1 ranking. Ponting, whose team was struggling since losing in a Test series in India and then at home against South Africa, admitted Aussies dominated after a long time and it was a great achievement to manage the series-clinching win over South Africa in Durban. “To win the way we have here, against a side that no one thought we could beat, makes the achievement very special. " Wo r l d C u p s are great, to win the Ashes 5-0 in 2006-07 was an amazing achievement, but this is just as good. There'd be a lot of people around the world who didn't think this was achievable," he said. "This is as happy as I've been in my whole career as an

Australian player. It's just very satisfying. I'm very proud of this group of players, that we've been able to play at this level. We played some amazing Test cricket here — a level of cricket everybody outside our dressing room thought we weren't capable of. "That's been the most satisfying thing for me. We played our best cricket for long periods of time. We dominated, we didn't give an inch. This is a great achievement," he added. Ponting said he always believed that his team could win here despite starting as the underdogs. "I absolutely thought the team could win here. Deep down, something inside me just said we could compete against South Africa. "You've always got different personalities coming into the side, but this time we've had five or six at once. Being on an overseas tour makes it easier. You get to know the guys, what makes them tick on and off the field. We've bonded over here, gotten to know each other and taken that onto the field.

March 12, 2009

Times Chennai E-Paper

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