Companies & Sectors
Mahindra tractor sales fall by 31 percent in March 2015
The farm equipment division of Indian automotive-maker Mahindra and Mahindra on Wednesday said its total tractor sales for March fell by 31 percent at 12,254 units against 17,673 for the same month last year owing to dampened demand.
 
Domestic sales of tractors fell by 37 percent at 10,392 units against 16,571 units during March 2014. Exports, however, rose by 69 percent for the month at 1,862 units.
 
"Unseasonal rains and hailstorms have adversely affected market sentiments," the company's president and chief executive of farm equipment and two-wheeler division Rajesh Jejurikar said in a statement.
 
The company's overall automobile, two-wheeler and farm equipment sales in March fell by 12 percent at 45,212 units against 51,636 sold in the corresponding month of 2014.
 
Total sales for the fiscal year 2014-15 declined by eight percent at 464,848 units from 507,176 units sold in the previous fiscal.

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Pune activist threatened by local politician-builder
RTI activist Vijay Kumbhar was threatened on Monday afternoon, by a corporator-builder during file inspection under RTI at the Pune Municipal Corp 
 
Threats and assaults on Right to Information (RTI) activists have unfortunately become a common phenomenon across the country and one more incident has been added from Pune. On 31st March, Corporator Kailash Gaikwad, threatened RTI activist Vijay Kumbhar while he inspecting certain files under Section 4, at the Pune Municipal Corporation (PMC). The files Kumbhar was inspecting pertain to the politician’s construction site in upmarket Aundh area.
 
Kumbhar, who is a resident of the neighbourhood where the construction is coming up, went for file inspection to check out the permissions given by PMC for this construction site.
 
Kumbhar says he was shocked when suddenly Corporator Gaikwad came in and threatened him in front of the PMC officials. Gaikwad told Kumbhar that he (Kumbhar) should know that it is his (Gaikwad’s) project and he (Kumbhar) should not dare to put any hurdles; and if he does, then will have to bear the consequences. Kumbhar says he was shocked at the language used by Gaikwad.
 
In his official complaint to Police Commissioner Satish Mathur, where he describes the corporator’s threat in detail, Kumbhar has stated that, being a resident of the neighbourhood where the construction is coming up, he wanted information on certain permissions given by the PMC. He has also stated that, given the backdrop of continuous threats to whistle-blowers, the Commissioner should take up his complaint, seriously.
 
Kumbhar also stated in the complaint that after the incident was over, one of the Corporator’s builder friend called up to say that perhaps Gaikwad was not aware that Kumbhar was a RTI activist. He hence suggested that a meeting could be held to resolve the issue which Kumbhar says, he is not interested to do.
 
Kumbhar, who has pioneered inspection of files under Section 4 of the RTI Act, continues to use this tool effectively to not only expose corruption and financial irregularities in the civic corridors but has been instrumental in making the civic body amend some regulations, for better transparency.
 
The builder lobby in Pune is largely owned or controlled by the political fraternity and any transparency in this area is often met with threats.
 
Kumbhar has also sent copies of his Police complaint to the Pune’s Municipal Commissioner and the City Engineer.
 
Let us see what action the Pune Police Commissioner takes in this regard.
 
Here is Kumbhar’s letter to Pune Police Commissioner Satish Mathur:
 

 

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COMMENTS

vswami

2 years ago


OFFHAND
"Threats and assaults on Right to Information (RTI) activists have unfortunately become a common phenomenon across the country..."

Such obnoxious incidents could, perhaps, be stopped from recurring,once for all, should the Regulatory legislation mooted but being delayed with no serious thought given so far is taken forward to fruition.

One of the proposed measures therein,- namely, to have disclosed on the website of the regulatory authority, all the crucial details of any building project- if enacted sooner than later or never,should help in avoiding such unlawful and detestable incidents,not only faced by social activists, but by one and all concerned from the society at large.

Dr Reddy's to buy select products of UCB for Rs800 crore

The Hyderabad-based firm said it entered into a definitive agreement to acquire a select portfolio of the established products in India, Nepal, Sri Lanka and the Maldives

 

Pharma major Dr Reddy's Laboratories on Wednesday announced it will acquire a select portfolio of the established products business of Belgian drugmaker UCB for Rs800 crore.
 
The Hyderabad-based firm said it entered into a definitive agreement to acquire a select portfolio of the established products in India, Nepal, Sri Lanka and the Maldives.
 
The transaction is expected to be closed in the first quarter of the financial year 2015-16.
 
The transaction includes approximately 350 employees engaged in operations of the India business. The revenues of the acquired business is approximately Rs150 crore for calendar year 2014.
 
The acquisition will help Dr Reddy's to expand its footprint in the areas of dermatology, respiratory and pediatrics diseases.
 
"The acquired UCB portfolio shall accelerate Dr Reddy's presence in the high growth areas of dermatology, respiratory and pediatrics with market leading brands like Atarax, Nootropil, Zyrtec, Xyzal, Xyzal M etc," said Alok Sonig, senior vice president and India business head, Dr Reddy's.
 
"UCB is in a strong position with a solid platform for continuous growth thanks to our core products and our promising pipeline. This position allows us to enhance our focus on our key neurology portfolio in India, providing innovative solutions to patients living with severe diseases," said Mark McDade, UCB's chief operating officer.
 

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