The tablet computer, circa 1989

Around two decades ago, Apple asked a few firms to come up with concepts for a tablet device. Here’s what came up.

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    SEBI says its ban against Chimming Trading continues

    Last year SEBI barred Chimming Trading from accessing the securities market till further orders, as it was prima facie found to be involved in the alleged manipulation of shares of five companies

    Market regulator Securities and Exchange Board of India (SEBI) has said that its ban against Chimming Trading Company Ltd (CTCL) continues till further notice. In an order, Dr KM Abraham, whole-time director, SEBI, said that the company's role or involvement in the alleged manipulation would be reviewed after the investigation in the matter is concluded.

    Last year in June, SEBI, vide an ad interim ex-parte order barred CTCL from accessing the securities market and further prohibited it from buying, selling or dealing in the securities market, directly or indirectly, till further orders, as it was prima facie found to be involved in the alleged manipulation of shares of Cals Refineries Ltd, Confidence Petroleum India Ltd, Bang Overseas Ltd, Shree Precoated Steels Ltd (now known as Ajmera Realty & Infra India Ltd) and Temptation Foods Ltd.

    The market regulator said that 'connected clients' were involved in these transactions. 'Connected clients' or fronts used by Ketan Parekh for his transactions (many of them linked to the sons of Shirish Maniar) often sold shares without having them in their possession. They subsequently obtained the shares in time for delivery through off-market transactions through other ‘connected entities’ within the circle of operators.

    The 'connected clients' also indulged in trading in the aforesaid scrips amongst themselves, thereby creating market volumes. Further, some of the inter se trades of the ‘connected clients’ were found to be synchronised in nature.

    They were also found to have transferred shares of the identified scrips amongst themselves and that in certain cases, the delivery obligations of one 'connected client' was fulfilled by the off-market borrowing of shares from another 'connected client'. The acts of the 'connected clients' were thus found to be prima facie the cause for the increased market traded volumes and that their volume contribution appears to have induced unwary investors into dealing in the shares of the aforesaid companies during the relevant period, SEBI had said.

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    R Balakrishnan

    1 decade ago

    It would be interesting to see which mutual funds and PMS schemes own this stock. They are the typical exit conduits for the 'fixers'

    CIL’s FY10 profit at Rs10,616 crore; IPO likely in August

    Coal ministry says that coal-block allotment to private players would only be done through a bidding process in the future

    The country’s largest coal producer Coal India Ltd (CIL) has seen an estimated two-fold jump in profit to Rs10,616 crore in 2009-10, coal minister Sriprakash Jaiswal said today, reports PTI.

    Profits of CIL for 2009-10 stood at Rs10,616 crore, which is almost double of last year's figure, Mr Jaiswal told reporters.

    In 2008-09, CIL had registered a profit-before-tax of Rs4,238.58 crore, which the company said was low on account of the over Rs5,000 crore wage revision for its employees.

    The minister further said that the company’s IPO is likely to be launched in August, which will see the Centre divesting 10% of its stake in the coal major. The government at present holds 100% stake in the company.

    Mr Jaiswal said that almost 90% of the coal produced in the country was of “average quality” and it was trying to get coal properties outside the country to meet requirements.

    Though the average quality coal can be used in thermal plants, the country required good quality for cement, paper and other industries for blending it with the one available with the country, he added.

    Mr Jaiswal said that henceforth, coal-block allotment to private players would be only through bidding process.

    “Only the highest bidder would be given coal blocks in the country, as it was found that private players were acquiring them as property assets,” the minister said adding that an amendment Bill for the same is awaiting a Parliamentary nod.

    He, however, stressed that under the government dispensation, the Centre would decide on allotting coal blocks to states demanding them, but it would be only on merit.

    “It would be seen which state is making the demand first and the status of its power plants besides considering other merits before allotting coal blocks,” the minister added.

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