Governor recommends central rule in UP
New Delhi: Uttar Pradesh governor Vishnu Kant Shastri has recommended imposition of President's rule in the state.

Shastri also recommended that the newly elected assembly be kept in suspended animation.

The governor sent his report to the home ministry containing the recommendations after coming to the conclusion that no political party was in a position to provide a stable government in the state.
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Probe ordered into Gujarat violence
Ahmedabad: Gujarat government has appointed retired judge of Gujarat high court justice K G Shah as head of the judicial commission to inquire into the Godhra train attack and the subsequent violence.

The panel has been asked to submit its report on all aspects of violence 'within three months'.

The terms of reference for the Commission would be to inquire into the facts, 'circumstances and the course of events of the incidents that led to setting on fire of some coaches of Sabarmati Express on 27 February.'

Among the other terms of reference for the Commission would be to look into the events that led to the subsequent incidents of violence and 'also on the role of the administration in dealing with the Godhra station violence and the fallout.'
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Maharashtra to infuse Rs 406 crore in textile mills
Mumbai: The Maharashtra government has decided to advance Rs 406 crore as equity capital to 60 textile mills in the state by the Maharashtra Cooperatives Development Corporation.

Of the 60 mills in the state, nine from the backward regions would receive Rs 93 crore, while Rs 313 crore would be infused into the remaining 51 mills, each of which would be required to raise five per cent of their equity.
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Sebi move to prevent interim dividend by Cos
New Delhi: The Securities and Exchange Board of India has directed stock exchanges not to allow companies to pay interim dividend without total compliance of norms.

Stock Exchanges have been told to advise companies of the requirement of due notice period under Clause 16 of listing agreement, and that no relaxation of the said notice period would be permitted.

Under Sebis listing agreement norms, a company has to inform the stock exchanges about the notice period for book closure and record date, which should not be less than 30 days for demat shares and 42 days for shares in physical form.

Companies which have announced dividend payments after Budget includes Reliance Industries, Reliance Petroleum, Reliance Capital, Tata Tea, Tata Power, Tisco, BSES, MRF, Dr Reddy, Cipla, Wockhardt, Dabur, GE Shipping, Britannia, Hero Honda, Bajaj Auto, Dalmia Cement, Nestle, Kesoram and Mirc Electronics.
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Sebi to revamp organisational structure
Mumbai: The Securities and Exchange Board of India is to revamp the organisational structure, human resource practices and systems to promote and protect the stakeholders interest.

The review and changes in the structure and working practices would be carried out through an internal exercise and feedback from market participants and investor organisations.
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Intelsat to offer Internet via satellite
New Delhi: Intelsat is launching Internet connectivity via satellite covering both the space and terrestrial segments.

The Internet Trunking Service is the first product that combines space and terrestrial segment capabilities to provide high-speed Internet backbone connectivity for Internet service providers (ISPs).

The company is planning to introduce this product first in India and then other developing markets in Africa, Latin America and Asia Pacific. Intelsat will introduce this Internet Trunking service to both category A and B ISPs through its subsidiary called Intelsat Global Sales and Marketing Ltd.
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CII, Australian group sign MoU
New Delhi: Confederation of Indian Industry (CII) and Australian Industry Group (AL Group) have signed a memorandum of understanding to develop a strong partnership between India and Australia.

According to the MoU, CII and AL Goup will take initiatives to promote bilateral trade and suggest the Indian and Australian governments to strengthen the economic ties between the two countries

AL Group is one of the national industry organisations of Australia with about 10,500 member companies engaged in manufacturing, construction and allied service industries, including Information Technology (IT), telecommunication and food processing.
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Arundhati Roy jailed for a day
New Delhi: The Supreme Court has sentenced Arundhati Roy to one-day symbolic imprisonment for contempt of court and fined her Rs 2000.

She was taken to Tihar Jail soon after the verdict.

The SC bench comprising Justice G B Pattanaik and Justice R P Sethi said Arundhati Roy is found to have committed criminal contempt of court by scandalising it and lowering its dignity through her statements made in her affidavit.

The court had issued suo motu contempt notice to Roy taking exception to a few paragraphs in an affidavit filed by her in reply to a petition seeking initiation of contempt proceedings against her for allegedly raising slogans against the apex court during a demonstration held at its gate in December 2000. The demonstration was in protest against the Narmada dam project.
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