Spending
Taking Care of Your Radiator
Removing a radiator to clean it can become a major exercise
 
Every summer, water-cooled-engine-powered motor- vehicle-owners in India would get their radiators flushed. This meant every car, truck and bus, with the possible exception of the VW Beetle and some other air-cooled engines. The drill was simple—open the drain cock at the bottom of the radiator; let the rust-coloured (or worse, mud-coloured) water and slurry out. Then put a hose-pipe with running water on top; let the engine tick over gently and keep pouring water till what comes out looks like what went in.
 
In a day and age prior to green and other coloured chemical coolants, this worked very well; it got rid of all the scaling, rust as well as muck which impacted cooling efficiency. To a keen eye, it also gave an indication of engine health; but more on that some other day.
 
For the purists, a ‘reverse flush’ was also essential and consisted of unbolting the radiator from the body; holding it upside down; and pouring water bottom to top while thumping it gently to dislodge anything that got stuck inside. It never failed to surprise me how much more garbage would pour out even after the ‘straight flush’ had visibly cleaned things up.
 
Unfortunately, in modern cars, radiators often cannot be flushed; certainly it is almost impossible to reverse flush them. Removing a radiator to clean it up if it gets choked after a few years can become a major exercise as authorised dealers will try to charge you also for full engine removal since it is very likely that the sludge and scaling has moved on to other parts of the cooling system.
However, where there is a will, there is a way; and every town has its radiator specialists who will find some home-grown method to bring the cooling functions back to original tick. It’s that, or alternately, spend a huge sum of money getting it done by the authorised lot.
 

Lobby against Public Transport

It is not just the expected bad results from the agricultural sector that may drive down new motor-vehicles sales this year but also the huge number of over-aged second-hand motor-vehicles of all sorts heading for non-urban India. In addition to the large number of people now opting for new forms of public transport in many cities, Delhi, the largest market, is one example.
 
This is why the lobbies, fighting for better public transport, appear to be back in full form. The long delay in the opening of the vital Mandi House to ITO stretch of the Delhi Metro, for example, is one outcome. This important arterial connection will reduce road traffic load of vehicles as well as pedestrians on one of the most congested street junctions in Delhi. It has been ready for almost six months now; but its operation is being held back on a technicality between two ministries—that single-line operation is unsafe. This is not true, because single-line operation under controlled conditions has been allowed in the past too.
 
It is said that the automobile lobby, already reeling under reduced sales of new motor-vehicles, has been behind this also. Not difficult to believe.
 
(Veeresh Malik started and sold a couple of companies, is now back to his first love—writing. He is also involved in helping small and midsize family-run businesses re-invent themselves.)

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Nifty, Bank Nifty, Sensex still headed higher – Tuesday closing report
Nifty has to stay above 8,300 for the uptrend to continue
 
We had mentioned in Monday’s closing report that CNX Nifty is on an uptrend and it may move higher if it manages to stay above 8,250. The index opened marginally lower and after hitting the day’s low it started moving up. Just before the beginning of the noon session the index moved into the green and it continued to move higher. However at 2.03 pm there was a sudden fall and it moved into the red. After making an effort to revive, the index closed marginally lower.
 
Sensex opened at 27,663 while Nifty opened at 8,356. The indices hit their low at 27,574 and 8,335 and moved to 27,872 and 8,428. Sensex closed at 27,646 (down 42 points or 0.15%), while Nifty closed at 8,366 (down 8 points or 0.10%). Bank Nifty too moved in the same manner today. After opening at 18,365 it moved from the low of 18,297 to the high of 18,556 and closed at 18,380 (down 43 points or 0.23%). NSE recorded a volume of 76.76 crore shares. India VIX rose 2.05% to close at 18.2700.
 
Prime Minister Narendra Modi today promised a more stable and predictable taxation system and said his government was working aggressively to make India a very easy place to do business.
 
SEBI reportedly plans to raise the minimum contract size for trading in equity derivatives. The lot size will be raised from the existing Rs2 lakh to Rs5 lakh or Rs10 lakh. This is the first time since derivatives trading kicked off in India that the market regulator plans to raise the limit for the minimum contract size.
 
Finance Minister Arun Jaitley plans to meet PSU bankers to discuss stake sale plans and the problem of rising bad loans which have crossed a staggering Rs2.5 lakh crore.
 
To mobilise gold held by households and institutions, the government on Tuesday released a draft scheme under which a person or entity can earn interest by depositing the metal with banks. To make the scheme attractive to households, the interest earned on it will likely be exempt from income tax, wealth tax, and capital gains tax. As per the draft guidelines, minimum gold deposit is proposed at 30 gram.
 
Rating agency Crisil today said expectations from Prime Minister Narendra Modi-led government have moderated in its first year, as it was not able to push demand due to the issues it inherited.
 
The International Monetary Fund voiced alarm Monday about energy subsidies across the world, saying they were expected to reach $5.3 trillion in 2015, more than government health spending.
 
VA Tech Wabag (8.19%) was the top gainer in ‘A’ group on the BSE, while PMC Fincorp (9.84%) was the top loser in the group. PMC Fincorp hit its 52-week low today.
 
Hero MotoCorp (2.16%) was the top gainer in Sensex 30 pack, while Tata Motors (1.95%) was the top loser in the pack.
 
On Monday US indices closed flat with positive bias. Asian indices showed mixed performance. Shanghai Composite (3.13%) was the top gainer while KLSE Composite (0.76%) was the top loser.
 
China's State Council yesterday, 18 May 2015, released guidelines on capital-market reform priorities, touching on areas such as the Shenzhen-Hong Kong Stock Connect and further liberalising interest rate and boosting the yuan's global status.
 
China unveiled an ambitious plan to enhance the competitiveness of its manufacturing sector by encouraging innovation and raising efficiency in an effort to boost economic growth. The blueprint, titled "Made in China 2025," comes as China's factories are struggling with sluggish demand, increasing competition from other developing economies and a slowing domestic economy.
 
In an interview yesterday on Greek television, Finance Minister Yanis Varoufakis reportedly said that a bailout agreement with creditors is expected in about a week, which would help the cash-strapped country meet debt repayments due next month.

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Pachauri influencing witnesses: Complainant

Justice Sunita Gupta issued notice to Delhi Police and Pachauri and sought their responses by Wednesday

 

The woman research analyst who filed a sexual harassment complaint against TERI director general R.K. Pachauri on Tuesday told the Delhi High Court that he was "influencing" the witnesses in the case and sought the cancellation of his bail.
 
Justice Sunita Gupta issued notice to Delhi Police and Pachauri and sought their responses by Wednesday.
 
Appearing for the research analyst, advocate Prashant Mendiratta told Justice Gupta that a "free and fair investigation" cannot be carried out if Pachauri is allowed to roam free
 
The woman alleged that there is "overwhelming evidence" that he misused the bail granted to him by the trial court on March 21.
 
"Even police has filed an application in the trial court alongwith some documents that Pachauri has violated various conditions imposed on him while he was given bail and that he also influenced witnesses. Police have even said that he was not cooperating with them," the advocate told the court.
 
Mendiratta contended that Pachauri is an "influential man" who has been the top boss of The Energy and Resources Institute (TERI) for the last 34 years and was in active touch with its officials and influencing the witnesses.
 
Pachauri is "dictating what needs to be said to the witnesses" in the case, the lawyer further added.
 
The woman also opposed Pachauri seeking modification of a trial court order that bars him from entering the TERI premisis.
 
Pachauri, who is facing charges of sexual harassment and currently is on leave from TERI has requested a modification of an earlier court order and permission to resume work from the office premises.
 
"Pachauri now sought modification of order by which he was granted anticipatory bail. He is influential man he should not be allowed to enter TERI premises till the investigation is going on," argued Mendiratta.
 
Justice Gupta posted the plea before another bench on Wednesday.
 
After the sexual harassment complaint, Pachauri had stepped down as chairperson of the UN Intergovernmental Panel on Climate Change (IPCC) in February and proceeded on leave from TERI.
 
He has denied the allegations against him.
 
Citing several SMS texts, e-mails and WhatsApp messages as evidence, the woman accused Pachauri of sexually harassing her soon after she joined TERI in September 2013 and filed a complaint this February.
 
Pachauri was granted anticipatory bail on March 21 but was directed not to not enter the TERI office till the investigation is complete and not to leave the country without the court's permission.

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