Subramanian Swamy close to nailing Chidambaram in 2G scam?
Are P. Chidambaram's days under the sun numbered? At least Janata Party president Subramanian Swamy believes so.
Swamy, who has kept the heat on the home minister with his allegation that Chidambaram was complicit in the 2G scam, on Tuesday approached the special court with a complaint that the CBI, despite a court order, is yet to give him a file of letters that he believes will implicate the home minister in the case.
The CBI, in turn, told special judge O.P. Saini that it would provide the file - containing correspondence between former telecom minister A. Raja (currently in jail in the 2G scam) and Chidambaram - to Swamy by Thursday. "The court heard my complaint. It (the CBI) has now promised to give me the file by 5 pm on Thursday," Swamy said after the court proceedings. "I will look over the document and then bring it to the court on the next day of hearing (December 3)."
The special court had on November 8 ordered the CBI to give Swamy the file, saying it was satisfied that he needed them to pursue his complaint in the 2G scam.
"Complainant (Swamy) has filed an application that the file relating to UASL policy regarding the sale of equity (lock-in period) was seized by the CBI," the court had said, in its order. "After hearing the complainant, I am satisfied that a copy of the aforesaid file would facilitate the prosecution of this case. Accordingly, the CBI is directed to supply a photocopy of the file to the complainant at the earliest."
A week later, Swamy told the court that the agency was dillydallying and was yet to provide him the file. "This file contains crucial information about share dilution, which is central to the Prevention of Corruption Act levelled against these accused. How can they claim that it is not traceable? One newspaper says that it has been moved around, another says something else. I'm worried that it might be tampered with," Swamy said.
CBI counsel A.K. Singh, however, told Swamy that the agency would provide him with the file once it has been found among tens of thousands of documents it had seized in connection with the 2G case. Swamy claims the file includes sufficient evidence to prove Chidambaram's involvement, including signing on spectrum guidelines regarding the dilution of shares and the sale of equity. He claims that it was Chidambaram who told Raja that he can permit Swan Telecom and Unitech Wireless to offload shares to foreign firms Etisalat and Telenor, respectively, who had been blacklisted by the home ministry on separate occasions.
The CBI's chargesheet claims Shahid Balwa's Swan Telecom, which paid `1,537 crore for licences in 13 circles, was allowed to offload 45 per cent of its shares to UAEbased Etisalat for Rs.4,200 crore. The agency also claims Unitech Wireless offloaded 60 per cent of its shares to Norway-based Telenor for Rs.6,200 crore.
Wednesday, November 16, 2011
Monday, November 14, 2011
Dr.Abdul Kalam suggests 10-pt programme for Kudankulam
Chennai: Four-lane highways, a mega desalination plant, construction of houses, schools, hospitals as well as cold storages are amongst the suggestions to the central government made by former president A.P.J. Kalam for the development of Kudankulam and surrounding areas in Tamil Nadu.
In a report, Kalam, who Sunday visited the Kudankulam Nuclear Power Project (KNPP) in Tirunelveli district and believes the plant is totally safe, said the 10-point Kudankulam PURA (Providing Urban Amenities in Rural Areas) programme should be implemented by 2015. It involves an outlay of around Rs.200 crore and is aimed at benefiting Kudankulam and its 60 odd neighbouring villages.
The 39-page report has been authored by Kalam and his advisor V. Ponraj. It will be submitted to the state and central governments, Ponraj told IANS.
The report asks New Delhi to link Kudankulam and other villages in Tirunelveli district, around 650 km from here, with Tirunelveli, Kanyakumari and Madurai.
Industries that can provide direct employment to around 10,000 people should be located within a 30-60 km radius of Kudankulam and youth should be extended subsidised loans for starting their own business ventures, suggest Kalam and Ponraj.
They also suggest the building of 'green houses', apartments for people living along the shores of Kudankulam and neighbouring areas.
For the benefit of fishing community small jetties, fish processing units, cold storages should be built.
On providing drinking water to the populace, Kalam, a former nuclear and missile scientist, has suggested setting up a one million litres per day desalination plant and also bringing water from Pechiparai dam for drinking as well as agricultural use.
The report has also recommended building a 500-bed hospital in Kudankulam area, setting up tele-medicine hospitals in all villages and two mobile hospitals with facilities to carry out diagnostic tests.
The setting up of five state board and Central Board of Secondary Education (CBSE) stream schools with hostel facilities, provision of broadband connections and disaster management centre and provision of higher education with proper training to selected youth and placing them in a permanent job are the other suggestions.
According to the report, the government should also start other schemes in consultation with the local populace.
It should allay fears of the people about the Kudankulam nuclear power plant by providing them proper information.
The report went on to say that the central government should join hands with the state government to start generation of power at Kudankulam that houses the safest reactors in the world.
India's nuclear power plant operator Nuclear Power Corporation of India Ltd (NPCIL) is building two 1,000 MW nuclear power reactors with Russian technology and equipment in Kudankulam.
The first unit is expected to go on stream in December. The project is estimated to cost around Rs.13,160 crore (over $2.5 billion).
However, villagers fear for their lives and safety in case of any nuclear accident and the long-term impact it would have on the population.
Their agitation has put a stop to the project work, thereby delaying the commissioning of the first unit by several months.
According to the report, Tirunelveli district is expected to attract an investment of around Rs.20,000 crore with the setting up of the 4,000 MW (2,000 MW existing and 2,000 MW in the future) nuclear power plant which would feed the state nearly 50 percent of the power produced.
In a report, Kalam, who Sunday visited the Kudankulam Nuclear Power Project (KNPP) in Tirunelveli district and believes the plant is totally safe, said the 10-point Kudankulam PURA (Providing Urban Amenities in Rural Areas) programme should be implemented by 2015. It involves an outlay of around Rs.200 crore and is aimed at benefiting Kudankulam and its 60 odd neighbouring villages.
The 39-page report has been authored by Kalam and his advisor V. Ponraj. It will be submitted to the state and central governments, Ponraj told IANS.
The report asks New Delhi to link Kudankulam and other villages in Tirunelveli district, around 650 km from here, with Tirunelveli, Kanyakumari and Madurai.
Industries that can provide direct employment to around 10,000 people should be located within a 30-60 km radius of Kudankulam and youth should be extended subsidised loans for starting their own business ventures, suggest Kalam and Ponraj.
They also suggest the building of 'green houses', apartments for people living along the shores of Kudankulam and neighbouring areas.
For the benefit of fishing community small jetties, fish processing units, cold storages should be built.
On providing drinking water to the populace, Kalam, a former nuclear and missile scientist, has suggested setting up a one million litres per day desalination plant and also bringing water from Pechiparai dam for drinking as well as agricultural use.
The report has also recommended building a 500-bed hospital in Kudankulam area, setting up tele-medicine hospitals in all villages and two mobile hospitals with facilities to carry out diagnostic tests.
The setting up of five state board and Central Board of Secondary Education (CBSE) stream schools with hostel facilities, provision of broadband connections and disaster management centre and provision of higher education with proper training to selected youth and placing them in a permanent job are the other suggestions.
According to the report, the government should also start other schemes in consultation with the local populace.
It should allay fears of the people about the Kudankulam nuclear power plant by providing them proper information.
The report went on to say that the central government should join hands with the state government to start generation of power at Kudankulam that houses the safest reactors in the world.
India's nuclear power plant operator Nuclear Power Corporation of India Ltd (NPCIL) is building two 1,000 MW nuclear power reactors with Russian technology and equipment in Kudankulam.
The first unit is expected to go on stream in December. The project is estimated to cost around Rs.13,160 crore (over $2.5 billion).
However, villagers fear for their lives and safety in case of any nuclear accident and the long-term impact it would have on the population.
Their agitation has put a stop to the project work, thereby delaying the commissioning of the first unit by several months.
According to the report, Tirunelveli district is expected to attract an investment of around Rs.20,000 crore with the setting up of the 4,000 MW (2,000 MW existing and 2,000 MW in the future) nuclear power plant which would feed the state nearly 50 percent of the power produced.
Saturday, November 12, 2011
Kingfisher in trouble with Wooping 6000 crore debt
Last fiscal its losses stood at 1027 crores, and its total debts stands at a whooping 6000 crores. The flamboyant owner of the company Vijay Mallaya has asked for government help to stay afloat.
Bad times has hit the king of good times. Kingfisher Airlines has hit turbulence and it needs government help to keep flying, that is the message coming from the Mallaya camp.
The carrier has cut a number of flights to cut costs, and has amassed huge debts that it becoming increasingly hard to pay off. An exodus of pilots has not helped matters.
The airline which was launched by Kingfisher, the beer bigwig, in the go-go years for Indian Airlines has yet to post any profits, five years from its launch.
It has amassed huge debts to oil companies, airport authority of India and to private airport operators like GVK and GMR.
Last fiscal its losses stood at 1027 crores, and its total debts stands at a whooping 6000 crores. The flamboyant owner of the company Vijay Mallaya has asked for government help to stay afloat.
The airline owes huge amounts to oil companies, the Airports Authority of India and private airport operators GVK and GMR Group. The airline has not posted any profit since its launch five years ago, and reported a net loss of Rs.1,027 crore last fiscal and Rs.263 crore in the last quarter.
Mallaya has asked the government to give it time to pay off oil companies, and facilitate lending from banks.
However, BJP is against any government help for the troubled company. Former Finance Minister Yashwant Sinha, opposed the move saying the government can’t bail out a private company. If Mallaya was unable to pay his debts, it was upto him to find ways to get out of the mess, Sinha said.
The bailout, which has become popular in recent years, perhaps due to the major bailouts engineered by US and Europe for their troubled companies at the height of the financial crisis, is an unfair use of public money for private sector entities.
When profits go to the companies themselves, it stands to reason that they should be the one bearing the losses, and the risks.
The question is, does facilitating loans from private banks fall in the same category as a bailout. And will banks be willing to lend to Kingfisher without some sort of government guarantee that it will pick up the tab if Kingfisher fails?
The recent turmoil in the airline started after it reduced 32 flights from its daily schedule, a move which the company said was taken to rationalise route plans and improve yields.
However, this was seen only as another sign of distress by the stock markets.
The company’s stock at the Bombay Stock Exchange (BSE), declined over 19 percent in early trade to a new low of Rs.17.55. It however pared some of the losses and closed the day at 19.65, down 9.45 percent.
Also, the airline saw about 100 pilots quitting recently, but the company’s chief executive said such attrition levels were normal for the aviation business.
“Some 100 pilots have quit over the several months. There is a natural attrition which happens in any airline. UB group has continued to support us, so there is no question about the future or the viability of the airline,” Sanjay Aggarwal, chief executive Kingfisher Airlines, told a news channel.
In the backdrop of a 30 percent increase in jet fuel prices since December 2010, the domestic airlines’ are expected to lose Rs.3,500 crore in the first six months of this fiscal.
Bad times has hit the king of good times. Kingfisher Airlines has hit turbulence and it needs government help to keep flying, that is the message coming from the Mallaya camp.
The carrier has cut a number of flights to cut costs, and has amassed huge debts that it becoming increasingly hard to pay off. An exodus of pilots has not helped matters.
The airline which was launched by Kingfisher, the beer bigwig, in the go-go years for Indian Airlines has yet to post any profits, five years from its launch.
It has amassed huge debts to oil companies, airport authority of India and to private airport operators like GVK and GMR.
Last fiscal its losses stood at 1027 crores, and its total debts stands at a whooping 6000 crores. The flamboyant owner of the company Vijay Mallaya has asked for government help to stay afloat.
The airline owes huge amounts to oil companies, the Airports Authority of India and private airport operators GVK and GMR Group. The airline has not posted any profit since its launch five years ago, and reported a net loss of Rs.1,027 crore last fiscal and Rs.263 crore in the last quarter.
Mallaya has asked the government to give it time to pay off oil companies, and facilitate lending from banks.
However, BJP is against any government help for the troubled company. Former Finance Minister Yashwant Sinha, opposed the move saying the government can’t bail out a private company. If Mallaya was unable to pay his debts, it was upto him to find ways to get out of the mess, Sinha said.
The bailout, which has become popular in recent years, perhaps due to the major bailouts engineered by US and Europe for their troubled companies at the height of the financial crisis, is an unfair use of public money for private sector entities.
When profits go to the companies themselves, it stands to reason that they should be the one bearing the losses, and the risks.
The question is, does facilitating loans from private banks fall in the same category as a bailout. And will banks be willing to lend to Kingfisher without some sort of government guarantee that it will pick up the tab if Kingfisher fails?
The recent turmoil in the airline started after it reduced 32 flights from its daily schedule, a move which the company said was taken to rationalise route plans and improve yields.
However, this was seen only as another sign of distress by the stock markets.
The company’s stock at the Bombay Stock Exchange (BSE), declined over 19 percent in early trade to a new low of Rs.17.55. It however pared some of the losses and closed the day at 19.65, down 9.45 percent.
Also, the airline saw about 100 pilots quitting recently, but the company’s chief executive said such attrition levels were normal for the aviation business.
“Some 100 pilots have quit over the several months. There is a natural attrition which happens in any airline. UB group has continued to support us, so there is no question about the future or the viability of the airline,” Sanjay Aggarwal, chief executive Kingfisher Airlines, told a news channel.
In the backdrop of a 30 percent increase in jet fuel prices since December 2010, the domestic airlines’ are expected to lose Rs.3,500 crore in the first six months of this fiscal.
Monday, November 7, 2011
Massive Solar Flare - Giant Sunspot Unleashes
.A powerful solar flare that erupted Thursday (Nov. 3) from a huge blemish on the sun's surface has been classified as an X1.9 flare, ranking it in among the most powerful types of storms from our star can unleash.
The flare originated in a humongous sunspot that was sighted earlier this week, which ranks as one of the largest sunspots seen in years. The event began at 4:27 p.m. ET (2027 GMT).
The flare "triggered some disruption to radio communications on Earth beginning about 45 minutes later," NASA officials wrote in a statement. "Scientists are continuing to watch this active region as it could well produce additional solar activity as it passes across the front of the sun."
NASA's Solar Dynamics Observatory and twin Stereo sun-watching spacecraft snapped photos and video of the huge solar flare during solar storm.
A flare is a powerful release of energy that brightens the sun, and is often associated with an area of increased magnetic activity on the solar surface. This magnetic activity can also inhibit the flow of heat to the surface in a process called convection, creating darkened areas on the face of the sun called sunspots.
The huge active region on the sun right now, called AR11339, is about 50,000 miles (80,000 km) long, several times wider than the Earth.
"This large and complex active region just rotated onto the disk and we will watch it for the next 10 days," astronomers with NASA's Solar Dynamics Observatory satellite wrote in an update.
Later on the same day as the flare, in another area of the sun, a burst of charged particles called a coronal mass ejection released from the surface. This eruption came from the back side of the sun and is headed toward the planet Venus, so should not pose any risk to Earth.
Because NASA has a suite of spacecraft observing the sun at all times from many directions, the agency was able to observe the coronal mass ejection as well as the solar flare.
Scientists say we probably haven't seen the last of activity from this dynamic region of the sun.
"The large, bright active region remains potent," officials from the National Oceanic and Atmospheric Administration (NOAA). "Odds are good there's more to come."
And recent events are just part of a larger ramping up of action on the sun lately, as our star moves toward the peak of activity in its 11-year cycle around 2013.
Friday, November 4, 2011
Narendra Modi plans world's biggest stupa near new Maruti plant site
AHMEDABAD: In a bid to turn Gujarat into a pilgrim place for countries which follow Buddhism, chief minister Narendra Modi is pulling out all stops to build the world's biggest stupa, over 100 km from the place Suzuki has chosen for the biggest Maruti plant in North Gujarat.
The project will cost Rs 1,000 crore, centred around a 351-ft high stupa towering over a 151-ft statue of Lord Buddha. The site - Dev-ni-Mori in Sabarkantha district - is two km away from Shamlaji temple located on the Ahmedabad-Delhi National Highway. An active archeological site, this is the 5th place in the world where Buddha's body relics have been found.
The relics are at present kept wrapped in a silk cloth in a gold-plated casket at the archaeology department of MS University in Vadodara. A team from the department then headed by well-known archaeologist and professor B Subbarao had unearthed the ashes belonging to third or fourth century in Dev-ni-Mori in 1957. It was shifted to Vadodara as the site was getting submerged under the Meshwo dam. Prominent archaeologist and former MSU professor V H Sonawane says the casket's inscription refers to it as bodily remains of Buddha.
Modi is not only eyeing foreign tourists from the Buddhist world but also big business from South-East Asia economies like Japan and South Korea which have lined up bigticket investments here. Of 22 companies which evinced interest in the project, Gujarat has shortlisted two from China, a country Modi is visiting next week.
Lord Buddha himself visited several places in Gujarat. Excavations of stupas and viharas suggest that Buddhism came to Gujarat during his lifetime itself. Chinese traveller Huen Tsang has mentioned about the several monasteries in the Vadnagar-Vijaynagar region and that almost 1,300 monks lived here.
Modi may also steal the thunder of his Bihar counterpart Nitish Kumar, who has been actively promoting Bodh Gaya, Nalanda and other sites. This may enhance his appeal among dalits - a large number of them being Buddhists - besides tribals who also have belief in the Buddha sites in North Gujarat.
Bihar would, of course, not be able to match the money power of Gujarat which plans to spruce up the stupa site with resorts, retreats, ecotourism and a riverfront on the Meshwo. About 100 acres of land have been notified for it and more may be acquired.
The project will cost Rs 1,000 crore, centred around a 351-ft high stupa towering over a 151-ft statue of Lord Buddha. The site - Dev-ni-Mori in Sabarkantha district - is two km away from Shamlaji temple located on the Ahmedabad-Delhi National Highway. An active archeological site, this is the 5th place in the world where Buddha's body relics have been found.
The relics are at present kept wrapped in a silk cloth in a gold-plated casket at the archaeology department of MS University in Vadodara. A team from the department then headed by well-known archaeologist and professor B Subbarao had unearthed the ashes belonging to third or fourth century in Dev-ni-Mori in 1957. It was shifted to Vadodara as the site was getting submerged under the Meshwo dam. Prominent archaeologist and former MSU professor V H Sonawane says the casket's inscription refers to it as bodily remains of Buddha.
Modi is not only eyeing foreign tourists from the Buddhist world but also big business from South-East Asia economies like Japan and South Korea which have lined up bigticket investments here. Of 22 companies which evinced interest in the project, Gujarat has shortlisted two from China, a country Modi is visiting next week.
Lord Buddha himself visited several places in Gujarat. Excavations of stupas and viharas suggest that Buddhism came to Gujarat during his lifetime itself. Chinese traveller Huen Tsang has mentioned about the several monasteries in the Vadnagar-Vijaynagar region and that almost 1,300 monks lived here.
Modi may also steal the thunder of his Bihar counterpart Nitish Kumar, who has been actively promoting Bodh Gaya, Nalanda and other sites. This may enhance his appeal among dalits - a large number of them being Buddhists - besides tribals who also have belief in the Buddha sites in North Gujarat.
Bihar would, of course, not be able to match the money power of Gujarat which plans to spruce up the stupa site with resorts, retreats, ecotourism and a riverfront on the Meshwo. About 100 acres of land have been notified for it and more may be acquired.
China visit: Narendra Modi says no to 'state hospitality'
Gujarat Chief Minister Narendra Modi has refused “state hospitality” during his visit to China next week, The Indian Express learnt on Thursday.
Modi, who will be in Shanghai and Beijing from November 8-12, has reportedly told the Congress-led UPA government that he will not avail of “state hospitality” in China.
“He was offered state hospitality, as is customary for any visiting chief minister, but he has refused it,” a source said.
According to government rules, “state hospitality” means the Indian embassy in the country takes care of the accommodation, food and transport of a visiting Indian leader.
The visiting leader also gets a dearness allowance, which varies from country to country. For instance, for China, it comes to about US $100 per day.
The Gujarat CM, however, has not cited any reason for bearing his own expenses.
Modi, who will be in Shanghai and Beijing from November 8-12, has reportedly told the Congress-led UPA government that he will not avail of “state hospitality” in China.
“He was offered state hospitality, as is customary for any visiting chief minister, but he has refused it,” a source said.
According to government rules, “state hospitality” means the Indian embassy in the country takes care of the accommodation, food and transport of a visiting Indian leader.
The visiting leader also gets a dearness allowance, which varies from country to country. For instance, for China, it comes to about US $100 per day.
The Gujarat CM, however, has not cited any reason for bearing his own expenses.
South Korean envoy meets Narendra Modi
South Korean, envoy, meets, Narendra Modi Ahmedabad: South Korean Ambassador Kim Joong Keun on Thursday met Gujarat Chief Minister Narendra Modi and expressed his country's interest in collaborating with the state in infrastructure and other areas.
Showing interest in sectors like auto, shipping, electronics and knowledge industries, Keun urged the Chief Minister to establish trade relations between Kyunggi province of South Korea and Gujarat, official sources said.
Modi appraised the visiting envoy of how Gujarat was developing as a car manufacturing hub, with Tata, Ford, PSA Peugeot Citroen and Maruti having decided to set up plants.
Gujarat's doors were open to Korean auto major Hyundai, Modi told Keun, sources said.
The Chief Minister also invited Korean ship-building companies to set up units in Gujarat, assuring land off the sea coast.
Modi told the Ambassador that his government was keen to develop ship-building industries along the 1,600 km-long state coastline and also construct the world's largest man-made fresh water reservoir, sources added.
Modi also invited Korean companies to set up facilities in electronic zone in Gandhinagar and in Dholera SIR.
Showing interest in sectors like auto, shipping, electronics and knowledge industries, Keun urged the Chief Minister to establish trade relations between Kyunggi province of South Korea and Gujarat, official sources said.
Modi appraised the visiting envoy of how Gujarat was developing as a car manufacturing hub, with Tata, Ford, PSA Peugeot Citroen and Maruti having decided to set up plants.
Gujarat's doors were open to Korean auto major Hyundai, Modi told Keun, sources said.
The Chief Minister also invited Korean ship-building companies to set up units in Gujarat, assuring land off the sea coast.
Modi told the Ambassador that his government was keen to develop ship-building industries along the 1,600 km-long state coastline and also construct the world's largest man-made fresh water reservoir, sources added.
Modi also invited Korean companies to set up facilities in electronic zone in Gandhinagar and in Dholera SIR.
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