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Moneylife Digital Team 18 June 2010
Secunderabad-based XL Telecom and Energy Ltd said it won two orders worth Rs52.5 crore for supply of export of solar photovoltaic panels to Europe. One of the customers is an EPC company in Italy from whom this is the trail order. The second order is for supply of the popular 230 Wp size...

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Moneylife Digital Team 18 June 2010
Sun Pharmaceuticals Industries Ltd said it received abbreviated new drug application (ADNA) from the US Food and Drug Administration (USFDA) approval for its alprazolam tablets a generic version of Xanax. Alprazolam tablets are used for treatment of anxiety disorder or the short-term relief...

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Until now, we told investors that bank fixed deposits, although taxable, would at least ensure that your tax-paid principal amount, usually your hard-earned savings or retirement kitty, is safe. Well, not anymore. Beware. A bank could be nibbling away at your principal in the name of deducting...

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After asking Life Insurance Corporation (LIC) to repeatedly bail out public sector disinvestment issues, the government seems to be headed for some sensible policy changes. These changes, apparently the result of the low-key efforts of disinvestment secretary, Sumit Bose, could revive retail...

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BV Rao 18 June 2010
Home minister P Chidambaram is certainly one of the star performers of the UPA government. He brought his ministry in sync with the changed security scenario after 26/11 and squarely brought the Maoist violence to national centre stage. He brought a sense of purpose to a ministry that was seen...

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At a time when even junior ministers are daring to trample upon P Chidambaram, the sudden debate in Parliament over the inclusion of caste in the ongoing census, repeatedly raised by the Opposition and refused by the government, might offer an answer to the question: Who would want to put PC in...

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Pallabika Ganguly 18 June 2010
Real-estate companies are offering financing schemes and cash discounts if you pay 100% upfront. Don’t fall for it Real-estate companies are trying a variety of financing schemes to sell their unsold inventory.  In Mumbai, K Raheja Corp is offering 11% returns on a reducing-balance basis if a...

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The revival of retail investor interest is an issue that needs attention, well beyond the immediate imperative of hawking public-sector shares to meet disinvestments targets. Regulators and policy-makers need to understand that the preparation required to start investing in the capital market is...

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After this apparent sleight wherein it seemed like Pranabbabu was taking the decisions that were in his territory, Mr Chidambaram threw a fit. He was completely compromised and made to look like he had no clue on what was going on around him. That seems to be the reason why Jairam Ramesh got a...

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In a welcome move, SEBI has made it mandatory for mutual funds to disclose to investors how they exercise their voting rights as corporate shareholders—never mind that SEBI does not want to probe clear cases of fraud. Mutual funds are not only large enough to be heard on matters of governance,...

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Singapore’s Changi Airport has been named the world’s best airport in the Skytrax World Airport Awards. Incheon International Airport (rated the best in 2009) came a close second. These awards are based on the results from 9.8 million questionnaires completed by airline passengers during...

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A survey in Britain has revealed that one in every five spouses secretly checks the partner’s email or text messages. Surveillance was undertaken more often by women than men. Around 8% of men and 14% of women read their spouse’s emails. Even mobile phones were not spared. Among males, 7%...

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The babus have never had it so good. A few years ago, every secretary of the government of India used his/her pre-retirement years to lobby for a post-retirement sinecure. Regulatory bodies have been their favourite destinations, because they ensure a continuation of power and clout over all the...

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This happy scenario of IAS officers planting themselves into every conceivable aspect of public and private administration is only likely to face a block when it comes to exercising quasi-judicial functions. In a landmark judgement in May 2010, a five-judge constitutional bench of the Supreme...

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Ravi Samalad 18 June 2010
SEBI’s new contentious rule on client-broker relationship has been postponed till 30 June 2010. But the onus is now on stock exchanges to handle this thorny issue To bring clarity and accountability into a client-broker relationship, the Securities and Exchange Board of India (SEBI) had issued...

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Even regular market-watchers were rather startled with the SEBI press release announcing that Motilal Oswal Securities had filed consent terms in what was dubbed the IPO (initial public offering) or multiple application scam of 2003-05. The firm settled the case on 6th May by paying Rs5 lakh...

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The Income-Tax Department keeps the transcripts of the Niira Radia tapes a closely guarded secret. They are marked ‘Top Secret’ and ‘Strictly Confidential’, obviously because the PR firm, which has the accounts of Reliance Industries Limited as well as the Tata group, is bound to have enormous...

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Can Indage Vintners be salvaged? Indage Vintners, an audacious and a pioneering venture of Shamrao Chougule, who started his life as a farm boy, is unravelling. In late March, the Bombay High Court ordered India’s largest wine producer to wind up, following a winding-up petition filed by its...

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Pallabika Ganguly 18 June 2010
The Unilever chief should be deeply worried about HUL’s recent record Unilever chief Paul Polman recently visited India as successive Unilever chiefs do. All these years, Unilever chairmen have been praising Hindustan Unilever (HUL) as the jewel in the crown—even when growth was clearly...

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Ravi Samalad 18 June 2010
Multi-level marketing schemes are expressly prohibited under the Insurance Act. Yet such schemes are proliferating under various guises, reports Ravi Samalad Gujarat-based insurance broker agency, Jeevan Suraksha Medicare Services Ltd, is among a long and growing list of companies engaged in...

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