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# The Global Intelligence Files

On Monday February 27th, 2012, WikiLeaks began publishing The Global Intelligence Files, over five million e-mails from the Texas headquartered "global intelligence" company Stratfor. The e-mails date between July 2004 and late December 2011. They reveal the inner workings of a company that fronts as an intelligence publisher, but provides confidential intelligence services to large corporations, such as Bhopal's Dow Chemical Co., Lockheed Martin, Northrop Grumman, Raytheon and government agencies, including the US Department of Homeland Security, the US Marines and the US Defence Intelligence Agency. The emails show Stratfor's web of informers, pay-off structure, payment laundering techniques and psychological methods.

## [MESA] INDIA COUNTRY BRIEF 110929

Released on 2012-09-03 09:00 GMT

Email-ID | 3839236
Date | 2011-09-29 15:52:57
From | animesh.roul@stratfor.com
To | ct@stratfor.com, os@stratfor.com, mesa@stratfor.com
List-Name | mesa@stratfor.com

[facing difficulty in Attaching the Word doc. Will try again-Animesh]=20
INDIA COUNTRY BRIEF
110929
Basic Political Developments
=E2=80=A2 The Central Bureau of Investigation on Thursday told the Supreme =
Court that three jailed Anil Dhirubhai Ambani Group (ADAG) employees might =
turn approvers in the 2G case.=20
=E2=80=A2 Sonia Gandhi held meetings with senior leaders, including Finance=
Minister Pranab Mukherjee, Defence minister A K Antony and Ahmed Patel on =
2G scam issue.=20
=E2=80=A2 The Supreme Court deferred the hearing of a petition filed by Sub=
ramanian Swamy seeking CBI probe into the role of Union Home Minister P Chi=
dambaram in 2G scam till October 10.=20
=E2=80=A2 AICC general secretary Ghulam Nabi Azad said he would submit a re=
port on Telangana within two days to party president Sonia Gandhi and Prime=
Minsiter.=20
=E2=80=A2 A total of 32 legislators of Telugu Desam Party (TDP) from Telang=
ana submitted their resignations to press the demand for separate statehood=
to the region.
=E2=80=A2 Prime Minister Manmohan Singh, Defence Minister A.K. Antony and H=
ome Minister P. Chidambaram all met with the UPA Chairperson recently over =
the spectrum issue.
=E2=80=A2 CPI(M) today began deliberations on its ideological approach in t=
he changed times following serious electoral debacle in West Bengal.=20
National Economic Trends
=E2=80=A2 Food inflation jumped to 9.13 per cent for the week ended Septemb=
er 17 from 8.84 per cent in the previous week.
Business, Energy or Environmental regulations or discussions
=E2=80=A2 The Finance Ministry will discuss with SEBI and RBI the steps req=
uired to broad-base and make vibrant the corporate bond market.
=E2=80=A2 Jindal Steel and Power (JSPL) today said it planned to invest abo=
ut Rs 1,00,000 crore in Jharkhand.
=E2=80=A2 Hyderabad-based microlender Share Microfin today said 31 bankers,=
led by SIDBI and ICICI Bank, have agreed to restructure loans worth Rs 1,2=
00 crore given to it.=20
=E2=80=A2 NALCO plans to diversify into nuclear power investing Rs 11,450 c=
rore, but may move out of Orissa for its new smelter and power project in v=
iew of uncertainty on location.=20
=E2=80=A2 After arresting the general manager of Essar Steel Limited for hi=
s alleged involvement in giving protection money to Maoists, Chhatisgarh po=
lice have launched a hunt for an Orissa-based deputy manager of the group.
=E2=80=A2 Kingfisher Airlines got guarantees worth over Rs 6,100 crore from=
Chairman and key promoter Vijay Mallya last fiscal toward loan and other l=
iabilities.=20
Activity in the Oil and Gas sector (including regulatory)
Militant Activity/Terrorism (Particularly in Bangalore, Mumbai, Noida, Chen=
nai, Coimbatore)
=E2=80=A2 The railway police in Haridwar, has received a letter purportedly=
sent by Pakistan-based terror group Lashkar-e-Toiba threatening to attack =
in Uttarakhand during the festival season.
=E2=80=A2 Security forces in Gadchiroli, Maharashtra, busted an intensive t=
raining camp of Maoists in the jungles of Gyrapatti under Kurkheda police d=
ivision.=20
Labor/Social Unrest
=E2=80=A2 A fresh round of talks to end the month-long unrest at the Manesa=
r plant of Maruti Suzuki remained inconclusive on Wednesday.=20
Full Text
Basic Political Developments
Jailed ADAG employees may turn approvers in 2G scam: CBI
http://www.indianexpress.com/news/jailed-adag-employees-may-turn-approvers-=
in-2g-scam-cbi/853563/
The Central Bureau of Investigation told the Supreme Court on Thursday that=
three jailed Anil Dhirubhai Ambani Group (ADAG) employees might turn appro=
vers in the 2G case.=20
The agency told court it would investigate through them who were the real b=
eneficiaries of the spectrum allocation in the case of Reliance ADAG.=20
Appearing for the CBI, senior lawyer K K Venugopal told a Bench of Justices=
G S Singhvi and A K Ganguly that the three accused =E2=80=93 Group Managin=
g Director, Reliance ADAG, Gautam Doshi and Senior Vice-Presidents Surendra=
Pipara and Hari Nair =E2=80=93 have said they were merely employees of ADA=
G and not in charge of decisions relating to the disbursal of funds to get =
spectrum licence.=20
The three had earlier maintained they had taken all decisions.=20
Reopening senior lawyer Prashant Bhushan's allegation that CBI had not inve=
stigating Anil Ambani's role in the 2G issue, Venugopal said the agency has=
found that 107.91 lakh equity shares were sold from Swan (allegedly the fr=
ont company of Reliance ADAG) to Mauritius-based Delphi for a mere Rs 15 pe=
r share. This was grossly undervalued, the CBI contended.=20
2G note: Sonia holds meetings with Pranab, Antony, Ahmed=20
http://www.uniindia.com/
New Delhi, Sep 29 (UNI) Efforts by the Congress to defuse the controversy, =
generated by the Finance Ministry note to the Prime Minister's Office on th=
e 2G issue, continued today with party president Sonia Gandhi holding meeti=
ngs with senior leaders, including Finance Minister Pranab Mukherjee, Defen=
ce minister A K Antony and her political secretary Ahmed Patel, party sourc=
es said. The sources said Ms Gandhi held a meeting this afternoon with Mr P=
atel and Mr Antony to resolve the controversy generated by the
note. They said the Finance Minister also joined the meeting later. This is=
the second meeting by the Finance Minister with Ms Gandhi in the past thre=
e days. Union Home Minister P Chidambaram had earlier met Ms Gandhi on Tues=
day on the issue.The controversy has arisen over the Finance Ministry's not=
e on the 2G issue to the PMO on March 25 suggesting that as the Finance Min=
ister in 2008 when 2G spectrum was allocated, Mr Chidambaram could have sto=
pped A Raja (the then Telecom Minister) from=20
perpetrating the scandal. Mr Mukherjee's letter has said the 2G scam could =
have been avoided had Mr Chidambaram insisted on auction instead of giving =
licences at 2001 prices. The Opposition BJP has also stepped up its pressur=
e on the Congress.=20
2G Scam: SC defers hearing of Swamy petition till Oct 10=20
http://www.uniindia.com/
New Delhi, Sep 29 (UNI) The Supreme Court today deferred till October 10 th=
e hearing of a petition filed by Janata Party president Subramanian Swamy s=
eeking CBI probe into the role of Union Home Minister P Chidambaram in 2G s=
cam. The adjournment of the hearing by a bench comprising Justices G S Sing=
hvi and A K Ganguly was seen as a reprieve to the beleaguered Home Minister=
facing allegations of involvement in 2G spectrum case. In another major de=
velopment, senior counsel K K Venugopal told the apex court that CBI was in=
vestigating the real beneficiaries in the scam indicating that the=20
Reliance group top brasses including Anil Ambani were under CBI scanner. Th=
ough Mr Venugopal, appearing for CBI, did not name Mr Anil Ambani, but it =
was obvious when he said the Reliance group officers, arrested in the case,=
may take a U-turn and some of them may become approvers. CBI also submitte=
d before the Court that Tata group of companies did not get benefit from 2G=
licences allocation as former Telecom Minister A Raja favoured others and=
the aforesaid company had too suffered a lot because of him. CBI, however,=
gave clean chit to the Videocon company.=20
Telangana: Azad to file report in two days=20
http://ibnlive.in.com/news/telangana-azad-to-file-report-in-two-days/188563=
-60-114.html
HYDERABAD:=EF=BF=BD AICC general secretary Ghulam Nabi Azad said Wednesday =
that he would submit a report within two days to party president Sonia Gand=
hi and Prime Minsiter Manmohan Singh on what stand the Centre should take o=
n the Telangana issue. He also said there is a need for wider consultations=
at the national level. He implied that the issue had to be placed before t=
he UPA partners.=20
Speaking to mediapersons in Delhi after conferring with a delegation of Tel=
agnana Congress Steering Committee members, Azad said he was keen that a de=
cision on Telangana be announced at the earliest but would not say when. He=
said the decision was not in his hands.
The report that he would present would be based on the consultations he has=
had with leaders from both Seemandhra and Telangana regions. =E2=80=9CI he=
ld 12-13 meetings with leaders of both regions. The last meeting was held t=
oday,=E2=80=9D he said.
The Congress general secretary said he was aware that the Sakala Janula Sam=
me has paralysed life in Telangana and made an appeal to the Telangana Join=
t Action Committee (TJAC) to call it off. He also asked the chief minister =
to initiate a dialogue with the strikers.
After a three-hour meeting with Azad, Steering Committee chairman K Keshava=
Rao said Telangana Congress leaders would stay put in Delhi till such a ti=
me as Azad submits his report to the party high command.
In the meeting, the delegation told Azad in clear terms that any delay in m=
aking an announcement on the Telangana issue would only erode the base of t=
he Congress in the region and help the TRS gain an electoral advantage. The=
y also briefed him about the impact of the Sakala Janula Samme on the state=
administration and how chief minister Kiran Kumar Reddy was trying to unde=
rmine the agitation. One member of the steering committee reportedly accuse=
d the chief minister of using the police force to eliminate an employees un=
ion leader.
Azad, according to the Steering Committee leaders, asked them not bring pre=
ssure on the party leadership on the issue since it is seized of the matter=
. He wanted them to wait patiently since the party was finalising its stand.
Telangana stir intensifies, 32 TDP legislators resign for separate state
http://indiatoday.intoday.in/story/telangana-agitation-tdp-trs-bjp-hyderaba=
d-protest/1/152995.html
A total of 32 legislators of Telugu Desam Party (TDP) from Telangana on Wed=
nesday submitted their resignations to press the demand for separate stateh=
ood to the region.
After day-long deliberations, the legislators reached the assembly on Wedne=
sday evening and submitted their resignations to legislature secretary.
This is the second time in three months that TDP legislators have resigned.=
Their move is aimed at pressurising the legislators of ruling Congress to =
quit.
TDP leader E. Dayakar Rao told reporters that they submitted the resignatio=
n in the speaker's format.
Except Gampa Goverdhan, who is reportedly planning to join Telangana Rashtr=
a Samithi (TRS), all legislators of TDP have submitted their resignations.
Four rebel legislators of TDP had already submitted their resignations last=
month along with all 11 legislators of TRS.
In July, over 100 legislators including 45 of Congress party had submitted =
their resignations, demanding separate Telangana state. Speaker N. Manohar,=
however, rejected all the resignations.
Telangana Joint Action Committee, which is spearheading Telangana movement,=
had asked all legislators from the region to again submit their resignatio=
ns. TDP legislators offered to resign only after their counterparts from Co=
ngress submit their resignations.
Police detained scores of protesters including TRS and BJP leaders, who blo=
cked traffic at different locations in Hyderabad, as the 'Sakala Janula Sam=
me' (general strike), called by Telangana Joint Action Committee entered th=
e 16th day.
TRS legislators K T Rama Rao, Harish Rao besides BJP leaders including form=
er union minister Bandaru Dattatreya, JAC convener M Kodandaram were among =
those who were taken into preventive custody for staging 'rasta roko' agita=
tion and disrupting traffic after indulging in altercations with policemen.
Tension prevailed near Mettuguda junction in Secunderabad when police forci=
bly evicted Rama Rao and his supporters. Rama Rao, who is son of TRS chief =
K Chandrasekhar Rao, accused the Centre of not responding to their repeated=
pleas over the statehood demand.
"The Centre is playing spoilsport. We are requesting the Union Government t=
o immediately intervene and come forward and make a statement (for granting=
Telangana state) to pacify the anger and agitation of the people of the re=
gion," he said and warned that if things go out of hand resulting in violen=
ce, the Centre will be held responsible.
Harish Rao was taken into custody for staging 'rasta roko' near Hitec City,=
while Dattatreya was detained near Abids area even as several pro-Telangan=
a advocates were taken into custody after they blocked traffic near Mozamja=
hi market.
Pranab, Chidambaram meet Manmohan
http://www.thehindu.com/news/national/article2496637.ece?homepage=3Dtrue
Prime Minister Manmohan Singh, Defence Minister A.K. Antony and Home Minist=
er P. Chidambaram all met with the UPA Chairperson recently over the spectr=
um issue.
Amid the raging controversy over 2G note, Finance Minister Pranab Mukherjee=
and Home Minister P. Chidambaram on Thursday met Prime Minister Manmohan S=
ingh to discuss the issue.=20
This is the first time the two Ministers came face-to-face since the contro=
versy broke out a week ago after the surfacing of a Finance Ministry note t=
hat suggested that the 2G scam could have been avoided if Mr. Chidambaram a=
s the then Finance Minister in 2008 had insisted on auctioning of spectrum.=
=20
The meeting of Mr. Mukherjee and Mr. Chidambaram with the Prime Minister, t=
he first after his return from visit to New York, came on a day of hectic d=
iscussions in the Congress camp.=20
In the morning, Mr. Mukherjee met Congress president Sonia Gandhi after sen=
ior leaders A.K. Antony and Ahmed Patel held confabulations with her.=20
Later, Law Minister Salman Khurshid and MoS in the PMO V. Narayanasamy met =
Mr. Chidambaram before he left for the meeting with the Prime Minister.=20
=E2=80=9CAll is well. Don=E2=80=99t worry,=E2=80=9D Mr. Khurshid said after=
their 20-minute meeting with Mr. Chidambaram.=20
The 2G note of the Finance Ministry is believed to have caused frictions be=
tween Mr. Mukherjee and Mr. Chidambaram which the party leadership is keen =
to end.=20
CPM deliberates on ideological approach in changed times
http://ibnlive.in.com/generalnewsfeed/news/cpm-deliberates-on-ideological-a=
pproach-in-changed-times/840072.html
New Delhi, Sep 29 (PTI) CPI(M) today began deliberations on its ideological=
approach in the changed times following serious electoral debacle in its s=
trongholds as senior West Bengal leader Buddhadeb Bhattacharjee skipped the=
crucial meeting of the party's highest body. A fresh political-ideological=
document would be drafted for adoption at the 20th Party Congress schedule=
d next year.This would be a repeat of the exercise which it undertook 19 ye=
ars ago at the 14th Congress after the collapse of USSR. Senior Polit Burea=
u members responded in a terse manner when asked about absence of Bhattacha=
rjee, who is said to be cut up with the central leadership over the politic=
al line adopted, from the crucial deliberations. While Bengal CPI(M) Secret=
ary Biman Bose said he was not the spokesperson of the former Chief Ministe=
r, another Polit Bureau member Sitaram Yechury said it was for Bhattacharje=
e to answer the query. When asked whether they would call him 'absentee PB =
member', Yechury said Bhattacharjee was not running away from responsibilit=
ies and "even today, he is attending a meeting" in West Bengal. He said the=
Polit Bureau is undertaking the exercise of preparing a draft ideological =
approach so as to keep pace with the changing times. The CPI(M) had adopted=
a new ideological approach in 1992 Party Congress after the collapse of US=
SR. "In the past 20 years, the world has changed a lot. We have gone throug=
h globalisation and liberalisation," Yechury told reporters here on the fir=
st day of the meeting. The party is also reviewing the political situation =
in the wake of a series of corruption scams and rising inflation as the top=
brass would plan the future course of action to rope in non-BJP Opposition=
parties.
National Economic Trends
Food inflation inches up to 9.13% for week ended September 17
http://www.thehindu.com/business/Economy/article2496549.ece
Terming the fluctuations in food inflation an area of "grave concern," Fina=
nce Minister Pranab Mukherjee said the figure is perilously close to double=
digits
Food inflation jumped to 9.13 per cent for the week ended September 17 from=
8.84 per cent in the previous week, mainly due to a rise in prices of pota=
toes, pulses and poultry.
Finance Minister Pranab Mukherjee termed the rise in food inflation as an a=
rea of =E2=80=9Cgrave concern=E2=80=9D.
While prices of onions eased marginally during the week, gram, masoor, arha=
r, urad and poultry rates firmed up on an annual basis, as per Wholesale Pr=
ice Index (WPI) data released by the government today.
Potato prices, too, firmed up by about 15 per cent on an annual basis.
However, as a whole, inflation in the fruit and vegetable segments eased du=
ring the week under review vis-a-vis the same period last year.
In the week ended September 10, food inflation had declined to 8.84 per cen=
t from 9.47 per cent in the previous week.
=E2=80=9CThese fluctuations are taking place and it is one of the areas of =
grave concern,=E2=80=9D Mr. Mukherjee told reporters, adding, =E2=80=9C(Foo=
d inflation)... is perilously close to double digits.=E2=80=9D
As per the WPI data, inflation in cereals, milk, eggs, meat and fish also e=
ased to 13.17 per cent during the week under review.
Overall, inflation in primary articles stood at 11.43 per cent for the week=
ending September 17, compared to 12.17 per cent in the previous week. Prim=
ary articles constitute over 20 per cent of the WPI basket.
Non-food articles, which include fibres, oil seeds and minerals, recorded 1=
2.89 per cent inflation during the week ended September 17, down from 17.42=
per cent in the previous week.
Meanwhile, inflation in the fuel and power segment went up to 14.69 per cen=
t during the week ended September 17 from 13.96 per cent in the previous se=
ven-day period.
Headline inflation, which factors in manufactured items, fuels and non-food=
primary items, in addition to food commodities, stood at a 13-month high o=
f 9.78 per cent in August.
The Reserve Bank has already hiked policy rates 12 times since March, 2010,=
to tame demand and curb inflation.=20
Business, Energy or Environmental regulations or discussions
Finance Ministry to discuss steps with SEBI, RBI to boost corporate bond ma=
rket
http://www.thehindu.com/business/markets/article2496950.ece
The Finance Ministry will discuss with SEBI and RBI the steps required to b=
road-base and make vibrant the corporate bond market to help mid-sized firm=
s to raise funds at competitive rates.
The ministry on Thursday discussed the issue with participants of the debt =
market to enlist views for widening the corporate bond market.
=E2=80=9CVarious suggestions have come (on making corporate bond market vib=
rant), but no decision so far. We will discuss these suggestions with SEBI =
and RBI,=E2=80=9D a senior finance ministry official said after the meeting.
While India has a well established government securities (G-Sec) market, th=
e corporate bond segment is yet to pick up mainly due to the asset quality =
of the debt papers.
The official said the discussions were held with the representatives of fin=
ancial institutions like Morgan Stanley, ICICI Securities, PNB Gilts, Tata =
Group and AK Capital, on the steps for boosting corporate bond market.
He said there would be another round of meeting next month with the market =
players to crystallise the suggestions.
Sources said the Government is mulling tax incentives such as reduction in =
Securities Transaction Tax (STT) and Stamp Duty, besides withdrawal of with=
holding tax, to help companies raise funds at competitive rates.
G-Secs are preferred over corporate bonds as they enjoy sovereign guarantee=
and are highly traded, as compared to bonds.
However, in comparison to G-Secs, corporate bonds offer better rate of inte=
rest and people prefer to hold them till maturity, hence there is less trad=
ing in the segment.
The official said the government is ready to put in whatever it takes to br=
ing liquidity in the corporate bond market.
A vibrant corporate bond market, as suggested by India Inc in its August 1 =
meeting with Finance Minister Pranab Mukherjee, would help small and medium=
sized companies to get credit at comparative rates.
Large companies are able to get loan through private placement and from ban=
ks, while the smaller players face problems.
JSPL to invest Rs 1 lakh cr in Jharkhand=20
http://www.business-standard.com/india/news/jspl-to-invest-rs-1-lakh-cr-in-=
jharkhand/147767/on
Jindal Steel and Power (JSPL) today said it planned to invest about Rs 1,00=
,000 crore in Jharkhand to set up two steel plants of 11 million tonne annu=
al capacity by 2016, along with 6,600 MW power plants.
Of this, a steel bar mill of 1.2 million tonne per annum capacity in Patrat=
u was commissioned today by Chief Minister Arjun Munda and Jharkhand Mukti =
Morcha leader Shibu Soren, the company said in a statement.
It added that a steel plate mill of 0.6 million tonne per annum is already =
operational in Patratu, where the JSPL intends to set up an integrated stee=
l mill of total 6 million tonne capacity by second half of 2015.
"Both the mills form an integral part of our 6 million tonne integrated ste=
el plant being set up at Patratu with an investment of over Rs 25,000 crore=
," the statement said.
Besides this, JSPL also has plans to set up another 5 million tonne capacit=
y steel plant at Asanboni in East Singhbhum district in the state which is =
expected to be commissioned by 2016, it added.
Talking about setting up power plants in Jharkhand, the company said that t=
wo plants of 1320 MW each at Dumka and Godda is also on the anvil. It, howe=
ver, did not give the proposed investment on the power plants and by when i=
t will get commissioned.
Moreover, Jindal Power, a subsidiary of JSPL, is coming up with 2,640 MW po=
wer plant in Simdega in the state, while a separate group firm is setting u=
p a 1,320 MW plant in Jharkhand, the company statement said.
"The total investment outlay for Jharkhand is over Rs 1,00,000 crore which =
upon successfully commissioning will provide direct and indirect employment=
to more than 75,000 persons," it added.
Stating that this would be the single largest investment in the Eastern sta=
te, company's Managing Director Naveen Jindal said, "We are happy to be a p=
artner in the progress of Jharkhand. The plant will provide gainful employm=
ent in the state and will also help in the economic and infrastructure deve=
lopment of the region."
Share Microfin gets Rs 1,200-crore debt recast deal
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/s=
hare-microfin-gets-rs-1200-crore-debt-recast-deal/articleshow/10170483.cms
MUMBAI: In a big respite, Hyderabad-based microlender Share Microfin today =
said 31 bankers, led by SIDBI and ICICI Bank, have agreed to restructure lo=
ans worth Rs 1,200 crore given to it.=20
The agreement for corporate debt restructuring (CDR) gives Share a year's m=
oratorium on repayments on principal and the loans will be restructured ove=
r a seven-year period, the microlender's Managing Director, Udaia Kumar, to=
ld PTI over phone.=20
Interest on the outstanding loans has been fixed at 12 per cent, he said, a=
dding a committee of five top banks will now monitor the company on a regul=
ar basis.=20
Share's total debt stands at Rs 1,900 crore, of which Rs 1,200 crore has be=
en restructured and the remaining Rs 700 crore is held by lenders in the fo=
rm of preferential shares with conversion rights, Kumar said.=20
Small Industries Development Bank of India's (SIDBI) share is at Rs 350 cro=
re, while ICICI Bank's exposure is Rs 217 crore, he said.=20
"The CDR package gives us an opportunity to survive," Kumar said.=20
Microfinance institutions (MFIs) have been having a difficult time for arou=
nd a year now, ever since problems erupted in their largest market, Andhra =
Pradesh.=20
Some borrowers allegedly committed suicides due to strong-arm tactics of re=
covery agents, which prompted the Andhra Pradesh Government to enact a legi=
slation last year to control MFIs.
NALCAO plans to dversify into nuclear power
http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/=
metals-mining/nalcao-plans-to-dversify-into-nuclear-power/articleshow/10170=
674.cms
BHUBANESWAR: Buoyed by 31 per cent jump in net profit at Rs 1,069 crore in =
2010-11, NALCO plans to diversify into nuclear power investing Rs 11,450 cr=
ore, but may move out of Orissa for its new smelter and power project in vi=
ew of uncertainty on location.=20
"The company earned a net profit after tax of Rs 1,069 crore in 2010-11 as =
compared to Rs 814 crore in previous year, registering a jump of 31 per cen=
t," NALCO CMD B L Bagra said addressing its annual general meeting.=20
Similarly, sales revenue during the year at Rs.5,959 crore was higher by Rs=
.904 crore, an increase of 18 per cent as compared to the previous year, he=
said.=20
Rise in profit was because of higher sales, Bagra said adding the results w=
ould have been still better, but for the adverse impact of exchange rate of=
rupee on sales, which made a dent of Rs.159 crore during the year.=20
Operating cost was higher by Rs.399 crore, an increase of 10 percent over p=
revious year due to increase in the prices of coal, fuel oil and wage revis=
ion, he said.=20
NALCO achieved highest-ever domestic metal sale of 340,752 tonnes surpassin=
g the previous record of 289,032 tonnes in 2009-10. It was 17.9 percent hig=
her than last year.=20
Total metal sale of the company in 2010-11 was 438,952 tonnes, which is the=
highest-ever, surpassing previous best of 435,979 tonnes achieved during t=
he previous year, he said.=20
On future plans, the CMD said NALCO had identified Kakarapar Atomic Power S=
tation (KAPS) - 3 & 4 project for development, jointly with Nuclear Power C=
orporation of India Ltd at a cost of Rs.11,450 crore. The recommendation fo=
r the investment is under consideration by the Government.=20
Bagra said the company had been pursuing to set up a smelter and power proj=
ect in Orissa. However, considering uncertainty on location, company might =
have to explore for an alternate location elsewhere in the country, he said=
.=20
Nalco is actively pursuing to set up a smelter and power project in Indones=
ia, primarily because of availability of good quality coal at economic pric=
e. Two coal mining firms have been identified for long-term arrangement for=
sourcing coal for the planned project, he said.
Chhattisgarh cops search for Essar official in Orissa
http://timesofindia.indiatimes.com/city/bhubaneswar/Chhattisgarh-cops-searc=
h-for-Essar-official-in-Orissa/articleshow/10162416.cms
BHUBANESWAR: After arresting the general manager of Essar Steel Limited for=
his alleged involvement in giving protection money to Maoists, Chhatisgarh=
police have launched a hunt for an Orissa-based deputy manager of the grou=
p, C Srinivas.
When contacted, SP (Dantewada) Ankit Garg declined to divulge details about=
Srinivas' role in the monetary transactions with the Red rebels, but said =
"strong evidence" was also found against him. "It will not be proper to dis=
close much on the issue at this stage. The search is on to trace him. We ar=
e in close touch with Malkangiri police," Garg said. SP (Malkangiri) Anirud=
h Singh said Srinivas had not visited the district for the last few months.=
"We are extending all cooperation to Chhatisgarh police," Singh added.
Essar's 267-km-long Kirandul-Vizag pipe line to carry iron ore in slurry fo=
rm passes through Chitrakonda in Malkangiri district, which is often attack=
ed and damaged by Maoists ostensibly to extort money from the company. Sour=
ces said Srinivas does not permanently stay at Chitrakonda and visits the c=
ompany's establishment at Paradip where a similar pipeline project is at pr=
esent under construction for bringing iron ore from mines in Keonjhar distr=
ict, which is also one of Orissa's major Maoist-affected areas. "Beyond Mal=
kangiri, Chhatisgarh police may have to take the assistance of authorities =
in other districts to conduct raids," said a police official.
Sources said Chhatisgarh police have got "vital clues" about the money trai=
l from the corporate house to the Maoists while interrogating Jairam Korram=
, a tribal sarpanch of Badapadar panchayat in Malkangiri district's Chitrak=
onda block. Korram reportedly played a key role for the release of former M=
alkangiri district collector R Vineel Krishna, whom the Maoists had kidnapp=
ed and kept hostage for nine days in February. Chhatisgarh police got wind =
about Korram's link with the extremists during recent raids at the offices =
of a Bastar-based NGO. Sources said the sarpanch was later "whisked away" f=
rom his village to Dantewada for interrogation. As Korram remained missing =
for days and Malkangiri police pleaded ignorance about his whereabouts, ang=
ry villagers vented their anger by attacking Essar's pump house at Chitrako=
nda. On September 19, Korram appeared before a local court in Dantewada dis=
trict as a "witness" and recorded his statement. "He (Korram) is one of our=
important witnesses. He recorded his statement during interrogation and in=
the court as well," the Dantewada SP said. Korram has since returned home.
Kingfisher Airlines got Vijay Mallya's guarantee for Rs 6,176 cr in 2010-11
http://economictimes.indiatimes.com/news/news-by-industry/transportation/ai=
rlines-/-aviation/kingfisher-airlines-got-vijay-mallyas-guarantee-for-rs-61=
76-cr-in-2010-11/articleshow/10170291.cms
NEW DELHI: Working hard to lower its debt and interest costs, Kingfisher Ai=
rlines got guarantees worth over Rs 6,100 crore from Chairman and key promo=
ter Vijay Mallya last fiscal toward loan and other liabilities.=20
For providing the additional level of collateral for its funding needs, the=
company paid a little over Rs 50 crore to Mallya as 'guarantee and securit=
y commission' during the year ended March 31, 2011, Kingfisher has told its=
shareholders.=20
Mallya had also furnished guarantees totalling Rs 2,799.56 crore in the pre=
vious fiscal (2009-10) on behalf of the company for loans and other liabili=
ties, but did not get any commission that year.=20
The airline disclosed the guarantees worth Rs 6,175.63 crore provided by Ma=
llya and the commission totalling Rs 50.87 crore paid to him in its Annual =
Report for the year 2010-11, which was made available to shareholders ahead=
of its AGM yesterday in Bangalore.=20
The company did not reply to detailed queries regarding the need for collat=
eral from Mallya and the exact details of the loans and other liabilities f=
or which he had to furnish his personal guarantee.=20
However, Mallya told shareholders during his address at the AGM that he "pe=
rsonally stepped in to provide a third level of comfort to the lenders who =
have been extremely supportive of Kingfisher."=20
Kingfisher, which claims to be the country's single largest airline with a =
market share of about 20 per cent, is taking various steps to improve its o=
perating performance and as part of these efforts, has decided to phase out=
its low-cost service, Kingfisher Red, in about four months.=20
Mallya said the company has implemented a debt-recast programme to lower it=
s debt liabilities and Kingfisher was continuing to work with the consortiu=
m of banks with a view to further reduce interest costs.=20
In an investor presentation in June this year, the company said that its to=
tal debt before the recast stood at Rs 7,651.12 crore and came down to Rs 6=
,007.30 crore after the recast.=20
"The banks have not only given relief to Kingfisher in the form of a morato=
rium on repayment, extended tenor of loans and reduced interest rates but a=
lso converted 30 per cent of their outstanding loans into preference and eq=
uity capital," Mallya said.=20
"By the same measure, I, too, have given my personal comfort to the lenders=
over-and-above the securities provided by the company and the additional c=
ollateral of UBHL guarantees," he added.=20
Besides Mallya's guarantees, Kingfisher Airlines also got guarantees worth =
Rs 16,853 crore during 2010-11 from its holding company, United Breweries (=
Holdings) Ltd (UBHL), which was paid a commission of about Rs 58 crore.=20
UBHL had also got a commission worth Rs 49.5 crore in the previous fiscal, =
2009-10, during which it had given guarantees of about Rs 6,985.5 crore.=20
Mallya said the promoters have consistently supported the airline through d=
irect investment, advances from the holding company, guarantees from the ho=
lding company and also by securing third party funds to meet exigencies in =
Kingfisher.=20
He said that UBHL has provided Kingfisher with corporate guarantees totalli=
ng Rs 9,135 crore and each of these primary obligations was supported, in t=
he first instance, by Kingfisher's assets and cash flows.
Activity in the Oil and Gas sector (including regulatory)
Militant Activity/Terrorism (Particularly in Bangalore, Mumbai, Noida, Chen=
nai, Coimbatore)
Now, Uttarakhand gets terror letter from LeT
http://www.rediff.com/news/report/now-uttarakhand-gets-terror-letter-from-l=
et/20110929.htm
The railway police in Haridwar has received a letter purportedly sent by Pa=
kistan-based terror group Lashkar-e-Toiba threatening to attack top governm=
ent functionaries and vital installations in Uttarakhand during the festiva=
l season, police said on Thursday.
The letter was received on Wednesday by the office of the Haridwar Railway=
Superintendent, which had also got several such letters in the past.=20
A spokesman of Haridwar Police said efforts were on to trace one Karim Ansa=
ri, who is said to have written the letter.
The terrorist outfit had earlier threatened to attack vital installations o=
n the occasion of Independence Day.
Naxal camp busted by security forces
http://timesofindia.indiatimes.com/city/nagpur/Naxal-camp-busted-by-securit=
y-forces/articleshow/10170142.cms
CHANDRAPUR: Security forces in Gadchiroli busted an intensive training camp=
of Naxalites in a major operation carried out in the jungles of Gyrapatti =
under Kurkheda police division. While several Naxals are suspected to be in=
jured in the encounter, forces have recovered a couple of Bharmar guns and =
hoard of Naxal material from the camping site. The operation was carried ou=
t on September 24 but details of operation were revealed to media on Wednes=
day.
"It was a joint operation in which forces from CRPF-191 battalion, COBRA ba=
ttalion and district police participated. Joint forces were mobilized on th=
e basis of tip-off about Naxal training camp and the security personnel int=
ercepted the camping Naxal during morning hours. The encounter lasted for m=
ore than an hour, after which the Naxalites fled," said official sources.
The gun battle began around 9am, when over 50 Naxals belonging to Khobramen=
da and Tippagarh dalam fired at approaching security forces. However, they =
could not face the assault of security forces for long and retreated into t=
he jungle.
"We found blood stains at several places, which suggest at least half a doz=
en Naxals might have been injured or killed in the gun battle. However, fle=
eing Naxals managed to carry away their injured and dead aides, leaving non=
e behind," said an officer who participated in the operation. No one on the=
police side was injured in the exchange of fire.
He claimed that it was an intensive training camp involving training in fir=
earms, explosives, use of medicine, political agenda and media approach. "W=
e have recovered inflammatory banners, posters, Naxal literature, ration, d=
etonators, wire bundles, two Bharmar guns (manually loading guns) along wit=
h 10 tents. There were black boards scribbled with mathematics, extensive s=
upply of medicines, radio kits etc, giving a sense intensive Naxal training=
in the dense jungle," said the officer.
He claimed that Naxals might have been camping at the place since a fortnig=
ht. It took almost two days for the security forces to gather the belonging=
s of the Naxalites and destroy the camp. Security forces have intensified t=
he anti-Naxal operation in the area following the presence of fleeing Naxal=
ites.
Labor/Social Unrest
Talks between Maruti management, workers at Manesar remain inconclusive
http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/=
talks-between-maruti-management-workers-at-manesar-remain-inconclusive/arti=
cleshow/10163918.cms
NEW DELHI: A fresh round of talks to end the month-long unrest at the Manes=
ar plant of Maruti Suzuki, the country's largest carmaker, remained inconcl=
usive on Wednesday.=20
The negotiations between the company and the representatives of Gurgaon pla=
nt-based Maruti Udyog Kamgar Union (MUKU) and workers of the Manesar unit y=
ielded little result, triggering the possibility of fresh industrial protes=
ts in the region.=20
Union workers at the Gurgaon plant said they were still working with the Ma=
ruti management to resolve the crisis. "We have had several rounds of talks=
, but the issue is struck on the reinstatement of all the 62 sacked workers=
. While Maruti has agreed to take back 18 trainee workers and may convert t=
he status of some dismissed workers to suspension, we are expecting some po=
sitive outcome from the negotiations," MUKU general secretary Kuldeep said.=
=20
"We would decide our course of action in a day or two as we are still hopef=
ul of some positive outcome from the current round of negotiations," said R=
ajesh Kumar, general secretary of Suzuki Powertrain India Employees Union, =
though he did not rule out a flash protest in a day or two if the standoff =
continues.=20
--=20
Animesh