Gujarat violence claims over 100 lives
Ahmedabad: Army staged a flag march in some of the most affected areas of Ahmedabad following large-scale violence that killed over 133 people so far.

Violence erupted in the state since 58 people were killed when the Sabarmati Express was set on fire in Godhra on 25 February.

Nine columns of the Army which had been flown in to Ahmedabad early had already taken positions in the streets. A strong contingent of central paramilitary forces, including the Central Reserve Police Force and Border Security Force, is also likely to join them shortly.

Altogether 37 towns in Gujarat have been placed under curfew.
Back to News Review index page  
First Global chief gets bail
Mumbai: Additional chief metropolitan magistrate V.P.Taware has granted bail to Shankar Sharma, chief of First Global.

Sharma had been in custody for 73 days for alleged violation of provisions of the Foreign Exchange Regulation Act.

Sharma will have to deposit his passport with the court and appear before the Enforcement Directorate (ED) whenever summoned.

The court also allowed him to appear before a joint parliamentary committee on 6 March to answer charges in the probe.

The ED had filed a complaint in Mumbai against Sharma for offences under FERA. He reportedly violated Reserve Bank Of India (RBI) guidelines in respect of investments made by foreign institutional investors in 5,92,950 preferential shares of Himachal Futuristic Communication Limited (HFCL) in March 2000. The ED alleged that the shares had been sold at half the market rate.
Back to News Review index page  

Budget Highlights