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Cong polls draw first blood
The ongoing power tussle within the Congress took an ugly turn yesterday when supporters of the anti-Sitaram Kesri lobby, who were staging a dharna outside the AICC office, assaulted a youth who objected to slogans being raised against the party chief.
EC to announce Presidential poll after by-elections
Though the 60-day countdown for the Presidential election began on May 24, the Election Commission (EC) has decided to issue the notification only after the by-elections. The EC has in the meantime called for by-polls in three Parliamentary and nine Assembly seats on May 29.
Politicians skip Sandhu funeral
The mortal remains of Ajit Singh Sandhu, former SSP of Tarn Taran was consigned to flames with full police honours yesterday at his farm house in Mannawala village. Senior police officers however, resented the fact that not a single minister or representative was present at the funeral.
Advani calls for review of FCRA
BJP president, L K Advani has called for a review of the Foreign Contribution Regulation Act (FCRA) in the light of the Act getting violated quite often. The existing Act lacked teeth and the same was exposed by the Home Consultative Committee when the matter had come up for a debate a few years ago, he said. Advani, a member of the Committee, had called for modifying the Act as Foreign Exchange Prohibition Act.
HC directive to Bihar may hasten Jharkhand polls
The directive of the Ranchi bench of the Patna high court to Bihar chief secretary B P Verma, to personally appear in the court on July 15, and clarify the Government's stand on the Jharkhand Area Autonomous Council (JAAC) polls, has given a breather to the State Election Commission and evoked a positive response from the people.
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FIs to come under SLR regime: RBI
The Reserve Bank of India (RBI) will impose only the statutory liquidity ratio (SLR) on financial institutions' short-term funds raised following the recent relaxation in resource mobilisation norms. This, in effect, means the cost of funds for institutions borrowed through this route will be cheaper than that of banks, which are subjected to both CRR and SLR.
Arthur Andersen to study Tainwala recast
International consultant Arthur Andersen has been roped in by the Rs 150-crore Tainwala group for a restructuring exercise being done to hive off some activities. The group's three areas of operations are personal care products, packaging and plastic sheets, of which it may get out of two.
Birla-AT&T set to kick off roadshows
BankAm and Toronto Dominion plan to kickstart roadshows to raise $257-million foreign currency loans for the Rs 1,800-crore Birla-AT&T cellular service venture in Gujarat and Maharashtra on May 29 in Singapore. The three-city roadshow caravan will return to Mumbai on May 30 and then roll on to London on June 2.
Sun to pump in $3.5m more into Caraco
Sun Pharmaceuticals has mooted an additional injection of $3.5 million into the US-based Caraco Pharmaceutical Laboratories. It is set to receive stock in the American company in return for its technology on a range of 20 generic drugs, old and/or new.
Indian Hotels to hold 35% per cent in Bandra-Kurla exhibition
Indian Hotels Corporation, together with other Tata group and Taj associate companies, plans to hold not less than 35% of equity in the planned joint venture company, International Convention & Exhibition Centre Bombay. The venture will operate and manage the proposed convention and exhibition centre at the Bandra-Kurla Complex in Mumbai.
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