Laloo, Mishra granted bail
New Delhi: Supreme court on 21 January granted bail to former Bihar chief ministers Laloo Prasad Yadav and Jagannath Mishra in fodder scam cases being tried in a special court at Ranchi.
A Bench comprising Justice K T Thomas and Justice S N Phukan ordered their release on bail on the same condition as imposed in an order passed on 14 December 2001.
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Communication Commission to be set up
Jaipur: The government is planning to set up a communication commission which will have super-regulatory power in telecom and broadcast sectors.

This would be done as soon as communication convergence bill pending with the standing committee of Lok Sabha gets clearance in the coming union budget.

The measure will facilitate corporatisation of telecom and broadcast sectors.

The Commission will process composite licenses in five broad categories -- infrastructure, bandwidth, content application, internet and unified message.
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Company managers pay revised
New Delhi: The government has enhanced the managerial remuneration in the corporate sector from the existing minimum Rs 75,000 per month to Rs 150,000 per month for companies with effective capital of less than Rs 1 crore.

According to a deparment of company affairs notification, the managerial remuneration has been enhanced to Rs 400,000 per month from Rs 200,000 per month for companies with effective capital of Rs 100 crore or more.

For companies with effective capital of over Rs 1 crore, but less than Rs 5 crore, the managerial remuneration had been doubled to Rs 200,000 from the present level of Rs 100,000.

The managerial remuneration has been hiked to Rs 250,000 per month from Rs 125,000 per month for the companies with effective capital of Rs 5 crore or more but less than Rs 25 crore.

For such companies, which have an effective capital of over Rs 25 crore and less than Rs 50 crore, managerial remuneration has been increased to Rs 300,000 from Rs 150,000 per month.
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Rs 2,700 cr needed for convergence
New Delhi: The working group of the planning commission on convergence and e-governance has said the government needs to invest around Rs 2,700 crore during the 10th Five Year Plan to facilitate e-governance and convergence in the country.
Out of this, Rs 1,850 is for convergence and the remaining Rs 850 crore is earmarked for e-governance.

The pegged amount spread over a five-year Plan period is likely to be much more if the private sector, state government outlays and the allocated three per cent IT spending is considered.
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Crude oil production falls 1.1%
New Delhi: A sharp dip in production in country's prime Mumbai High Offshore fields saw domestic crude oil production dipping by 1.1 per cent to 2.78 million tonnes in December 2001 as opposed to 2.81 million tonnes produced in the same month last year.

Crude oil production was 1.9 per cent lower at 24.015 million tonnes in the first nine months of current fiscal as compared to 24.470 million tonnes in April-December 2000-01, according to the latest figures released by the petroleum ministry.

Crude oil production from Mumbai High fields was down 1.5 per cent in December to 1.444 million tonnes and 5 per cent to 12 million tonnes in first nine months of current fiscal.

Refinery production, however, was 8.8 per cent higher at 9.518 million tonnes in December 2001 as against 8.751 million tonnes of the same month the previous year.
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TV ad revenues dip in H2
Mumbai: Television advertising revenues have seen a marked dip in the second half of 2001. The decline is in the region of 13-15 per cent.

Big spend sector like white goods, which includes Samsung and LG, has seen slashed budgets for TV advertisement.

During the second half of 2001, conventional advertisers like Bajaj Auto and Titan Industries have significantly reduced their presence on television.
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Norms for differential voting rights relaxed
New Delhi: In a move that would expedite the issuance of more shares with differential rights as to dividend or voting in the corporate sector, the government has relaxed the existing norms governing the issuance of such shares.

The department of company affairs has held that a company having distributable profits in terms of Section 205 of the Companies Act, 1956, for three financial years preceding the year in which it has decided to issue such shares would be eligible for issuing shares with differential rights. A notification to this effect was issued by DCA recently.
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