Whirlpool, Birla Global get FIPB clearance
NEW DELHI, March 6 — The Foreign Investment Promotion Board today cleared foreign direct investment proposals worth Rs 325 crore including that of Birla Global, De Beers and Whirlpool.

Panel to guide government downsizing
NEW DELHI, March 6 — The proposed Expenditure Commission will determine the details of activities where the government should operate and this will determine the downsizing plans of the government, Union Finance Secretary Vijay Kelkar, said today.

Whirlpool, Birla Global get FIPB clearance

NEW DELHI, March 6 (PTI) — The Foreign Investment Promotion Board (FIPB) today cleared foreign direct investment (FDI) proposals worth Rs 325 crore including that of Birla Global, De Beers and Whirlpool.

As per the proposal of Birla Global, Canadian Financial Services Company Sunlife will pick up a 50 per cent stake in Birla Global resulting in FDI inflow of Rs 93.7 crore, official sources said.

Marvin, which earlier had a 33.3 per cent stake in Birla Global, would offload its stake in favour of Sunlife. Further, Birlas would reduce their existing stake by 16.7 per cent which would be picked up by Sunlife.

South African mining giant De Beers would bring in an FDI of Rs 12.6 crore for conducting prospecting and mining in Andhra Pradesh and other parts of the country.

This is the fourth such proposal of De Beers cleared by FIPB which has a 100 per cent subsidiary in India. However, it is not allowed to mine for iron ore and coal.

Honda Motors of Japan’s proposal for manufacturing other types of vehicles besides cars had also been cleared. “This would allow Honda to have a flexible assembly line”, sources said.

American consumer appliances major Whirlpool’s proposal to hike its stake to 92 per cent from 81 per cent earlier through a rights issue was also approved. This would bring in an FDI of Rs 63.4 crore.

Daewoo power’s proposal to restructure the equity of 1,050 MW Korba East thermal power project in Madhya Pradesh by offering 50 per cent stake to Swiss-Swedish engineering major ABB was approved.

The Korean Chaebol would retain the remaining 50 per cent. Earlier, Daewoo held 100 per cent equity in the project.

Paints company Goodlass Nerolac’s proposal to give 1.9 per cent stake to its technical collaborator, Kansai of Japan, was also cleared. This would result in a FDI inflow of Rs 4.6 crore, sources said.

Dutch pharmaceutical company Akzo Nobel Interbet International’s proposal to hike its stake to 92.6 per cent from the existing 75 per cent was cleared. The Dutch company would bring a fresh FDI of Rs 10 crore.

However, the FIPB deferred all the cases relating to foreign investments in information and broadcasting sector by a week.

The proposals of Reader’s Digest, Sony, Bloomberg, Mudra, Chaitra, Discovery, R.K. Swamy and Zen Communications are at present pending with the FIPB.

Panel to guide government downsizing
Tribune News Service

NEW DELHI, March 6 — The proposed Expenditure Commission will determine the details of activities where the government should operate and this will determine the downsizing plans of the government, the Union Finance Secretary, Dr Vijay Kelkar, said here today.

Addressing a conference on the Union Budget, organised by the standing conference of public enterprises (SCOPE) here, Dr Kelkar said reducing the size of the government was absolutely critical for fiscal correction.

Dr Kelkar said downsizing was not confined to the government alone and even public sector enterprises should give a thought to it.

He said the voluntary retirement scheme should not be restricted only to sick PSUs but must also encompass profit-making public sector companies.

In this regard he said the increased retirement age of 60 years for the government servants was not mandatory for the public enterprises and these undertakings could consider lowering the superannuation age to 58 years.

He said the ONGC had sent a proposal to roll back the retirement age to 58 years and a decision on this would be taken soon.

He said even Air India was contemplating a similar measure to trim its outfit and other PSUs could also consider the same.

Dr Kelkar said the government had for the first time offered some concrete measures to even profit making PSUs to go for VRS to be able to compete in the changed scenario.

The Secretary said the PSUs have been at a disadvantage because of zero import duty on capital goods and this was the reason for the government doing away with this provision and lowering rates of tariff protection.

He said the government has set a very ambitious target for disinvestment or privatisation. It intends to garner Rs 10,000 crore from PSU disinvestment.

He said the Budget provides much greater scope for internal restructuring besides, incentives for merger, de-mergers and spin offs.

Budget smoothens SSI sector growth
By P.D. Sharma

BUDGETS are not intended to please people. The only tangible measure of success of a budget is how uniformly it distributes dissatisfaction. So wrinkles hindering the growth of SSI sector have been smoothened while lot has been left for the future budgets.

The Finance Minister has given special attention to SSI sector. Budgetary provisions to improve the delivery system for credit to SSI with help this sector. It is claimed that 36 of the 135 recommendations of the S.L. Kapoor Committee have been accepted.

The Credit Guarantee Scheme has been initiated to overcome the bottleneck of collateral securities. It has been started with a modest corpus of Rs 100 crore and is likely to be strengthened. SSI sector which has shown the growth rate twice of the industrial growth rate shall get a big boost. Finance Minister has promised to open more SSI branches and to give more power to branch managers. Banks should take measures in right spirit by affecting attitudinal change.

The Minister has increased the eligible limit of applicability of Nayak Committee from Rs 4 to 5 crore. This shall increase the quantum of credit to SSI sector. Similarly limit of composite credit to tiny units has been raised from Rs 2 to 5 lakh. Integration of all self employment schemes and technology upgradation fund shall improve the effectiveness of these schemes.

Regarding NPAs the Minister has announced some concrete steps. It has been decided to set up five more debt recovery tribunals (DRTs) taking the strength to 14. Four debt recovery appellate tribunals shall be opened. In the existing arrangement there was only one such tribunal. It will be in the interest of all if the stringent conditions for appeal are softened to make them workable. Appeal can only be filed by depositing 75 per cent amount. This is quite impractical and exercise of opening more appellate tribunals shall be futile.

Finance Minister has accepted proposals of banks for setting up of bank specific Settlement Advisory Committees (SACs) to take care of the chronic cases of bad debts. This shall ensure timely and speedy settlement of sticky loans pertaining to SSI sector. Lok Sabha’s Estimate Committee had also made similar recommendations.

The Minister has announced steps to increase the out reach of banks to the tiny sector. Lending by banks to NBFCs or other financial intermediaries for the purpose of on-lending to the tiny sector is being included within the definition of priority sector for bank lending. Credit delivery to tiny sector shall get a boost.

Benefit of SSI exemption limit has been extended to units producing cotton yarn and small job workers engaged in printing of glazed tiles. SSI units manufacturing cosmetics toiletries, refrigeration, air conditioning equipment have also been given major excise concession.

Punjab is the home of SSI sector. As the Budget details are coming to light some resentment is discernible. Ludhiana and Amritsar have the largest concentration of dyeing units mostly doing job work. Dyeing of acrylic yarn shall now attract excise duty. This has triggered a wave of resentment in Ludhiana. Finance Minister should visualise the plight of these units who can not afford to cater to the requirements of excise procedures. Financial burden of duty is too much for these units which are already shaky during this recessionary phase. This proposal needs to be taken back.

Ambala durree industry in bad shape
By Satish Handa

AMBALA durree industry which was having cent per cent holding before partition in 1947 has slipped to a situation where it has hardly 12 to 15 per cent of the market share in the country today. With the situation not expected to improve in future, a majority of Muslim artisans working with this industry have migrated to other states. Due to the diminishing domestic market and increasing problems for the procurement of raw material and other fronts, entrepreneurs feel, the only option left for the survival may be to diversify into allied field.

“The cost of raw material has sky rocketed due to shortage of cotton production in the region for the last two years. We are ulilising hardly one third of our total production capacity due to demand recession” says Naresh Aggarwal, President of Ambala Durree Manufacturers Association.

“Indian durree manufacturers are facing a tough competition from China and Pakistan in export market and due to the fluctuation in price of raw materials it is hard for the exporters to stick to the price of durrees offered by them in the international market where a price war is going on” says Kamal Parkash of Sarla Handicrafts who established their unit in 1987 and are involved in 100 per cent export of their production to Japan, Britain and Australia.

“We have to either diversify or close down, there are no orders in hand” adds Rajiv Kumar of Aashu Handloom who started his unit in 1986. “Several durree manufacturers in Panipat have either switched over to manufacture blankets or allied products or have closed down their shutters” Prior to start his unit, Rajiv was doing job work for local exporters. He continues, for the last two years the export market too has been in a slump.

But there are some entrepreneurs in Ambala who have survived in the scare and are doing well despite problems. Sham Sunder Mehra who started his unit Hindustan Durree Industry in 1960, is one such businessman who has switched from domestic to export business and have enough clientage in Britain, France and Italy. He is engaged in making seasonal designs in different colours as per the requirement of his customers. “Foreign buyers are very quality conscious and do not hestiate to pay more for a good quality product” says Mehra.

The majority of durree makers feel pitty that they invest, help provide employment, earn revenue for the government, work for 18 hours a day but still are neglected. Unfortunately, there is no help from government in sight. On the contrary, Inspector Raj has become a way of life and running an industrial unit has become a curse. “We are forced to handle a fleet of inspectors. Only government can save us, the only option left may be to go in for diversification” says entrepreneurs.

Tandon new GIC Managing Director

MUMBAI, March 6 (PTI) — The central government has appointed M.K. Tandon as Managing Director of General Insurance Corporation of India (GIC). Tandon was earlier General Manager in charge of GIC’s investment and finance operations, a gic release said here today. Tandon joined insurance industry in 1964 and has handled varied and diverse assignments of marketing and development, corporate planning, publicity, training, human resources development and personnel administration.

Golden Group celebrates raising day
Tribune News Service

CHANDIGARH, March 6 — The Golden Group celebrated its 13th raising day near here today. Many team members and investors from all over the country joined the function. Justice Dr B.K. Mishra, Grievances Forum Jamshedpur, was the chief guest, Mr R.K. Syal, Chairman of the group addressed the function.

Mr Syal said the group has set business target of Rs 5,000 crore. He said the organisation has paid maturity worth Rs 600 crore till date to its investors and has secured a record re-investment of Rs 250 crore.

He said the Golden Tourist Resort, a subsidiary company of the Golden Group is engaged in developing tourism throughout the country.

SBI deposits cross Rs 4,400 crore in Punjab
Tribune News Service

CHANDIGARH, March 6 — State Bank of India has crossed the deposits level of Rs 4,400 crore in Punjab State and the advances stood at 1,983 crore at the end of January 1999. The bank’s total market share in the State deposits stood at 16.08 per cent and advances at 13.68 per cent.

Mr K.K. Narula, Chief General Manager, SBI Chandigarh Circle said while inaugurating bank’s fully computerised branch at Mohan Nagar, Industrial Area, Amritsar which is 100th fully computerised branch of the Bank in Chandigarh Circle.

Mr Narula said that bank’s priority sector advances in Punjab State stood at Rs 1,257 crore which is 63.38 per cent of the total advances against the national goal of 40 per cent. Bank’s export finance in the state stood at Rs 180 crore at the end of January 1999.

Kisan card

CHANDIGARH, March 6 (TNS) — The State Bank of Patiala has launched Kisan Credit Card Scheme in Punjab. It was launched at Kalyan Sukha village, near Bathinda, by Deputy General Manager of the bank, Mr S.S. Trehan.

by Praful. R. Desai

Claim survives

Q: When the landlord filed a suit for eviction on the ground of reasonable requirement for footwear business with sons, whether the claim would survive on the death of the landlord?

Ans: In India Hobby Centre (P) Ltd v Jabbar Ahmed (1998 (2) R.C.J. 940) the Karnataka HC was expressing the view thus:

During the proceedings of the case, father-landlord died. The evidence on record clearly shows that they are from a very small background. Under these circumstances, if two youngsters, who have lost their father during the pendency of the proceedings, state on oath that they require the petition schedule premises for the purpose of starting the business in which one of them has gained sufficient experience, and in that background, a finding is recorded in their favour by the Trial Court, the HC did not find any justification to interfere with the said finding in exercise of the revisional jurisdiction under S. 50 of the Karnataka Rent Control Act.

The court will have to consider the broad probabilities of the case and the fact situation. If the entire matter is considered from that point of view the HC held that it was fully satisfied that the claim made by respondents for eviction of petitioner is reasonable and bonafide. In that way, the HC gave a finding in favour of the respondents (landlord).

It is also relevant to point out that apart from the schedule property, the petitioner-tenant will be continuing to be in possession of a premises measuring about 20’x20’, which is adjacent to the petition schedule premises. Therefore even if the petitioners are evicted, still the petitioners will have sufficient accommodation in their possession. That would satisfy their need, while striking a balance between the claim made by the respondents and also the need of the petitioner. Therefore, this point also goes in favour of the respondent-landlord.

Thus, the property transferred being distinct and well defined and rent payable also having been apportioned as payable to the property transferred and tenancy stood split upon transfer and the petition filed for eviction of the petitioner-tenant, the HC held it is maintainable in law.

In that way, the petitioner was dismissed.

Software scam?

THE grapevine has it that some of the software companies, especially the ‘johnnies come of late’ have learnt a trick or two from diamond exporters. In short, as the rumour goes, they are indulging in circular exports to boost their revenue figures? Does this explain the unbelievable boom on in that segment?

Dark horse bet

PUNTERS at the bourses are invariably on the look-out for dark horses to place their bets. The latest to do the rounds is Tata Telecom, whose shares are being steadily accumulated by big BSE operators. Perhaps a favourable Budget announcement is in the offing.

SEBI

SEBI, in its wisdom has decided to become the sole disseminator of information about FII purchases and sales at the Indian bourses. Why? Well, it seems that the figures released by the NSE and the BSE differed so significantly that SEBI began wondering whether there was more to it than was meeting the eye good show, SEBI (for a change)!

Infotech

IT is no secret that the once booming finance sector in India is in bad shape. So, what do they do about it? Simple, change the name of the company, that is drop the Finance tag and add the Infotech or Software tag. And then what? Watch its share price zoom. Now, remember what good old Abe Lincoln said about fooling some of the people all the time?

Time for her to get angry again

Germaine Greer is at it again. In her new book “The Whole Woman,” she claims that labour-saving devices are labour-wasting. For example: “Washing used to be done on a single day of the week, usually Sunday. When washing machines became cheap enough to be owned by the majority, washing came gradually to be done on any day of the week, and then on every day of the week. Laundry is nowadays done several times a day.”

The Telegraph, London, has carried interesting extracts from her book. “Women are the stomping ground of medical technology, routinely monitored, screened and tortured”, another “Barbie has been instrumental in teaching broad-shouldered women, short-legged women, wide-bodied women, real women the world over to despise their bodies as we do.....”

“It’s time to get angry again,” she says. To get angry about male criminality and violence, women’s smaller earnings, lack of support for mothers and families — even for fathers. A bit of constructive anger about these things could be fruitful.

“Men have not agreed to do a share, let alone a fair share, of domestic work. It is always a woman who pops the meal in the microwave, whips off her apron, uncorks the wine, lights the candles and waits.”

Women who do too much housework need therapy for “obsessive compulsive” behaviour. Are these observations based on her life story?

In her book “Daddy We Hardly Knew You”, she was painfully, and sometimes touchingly, open about a childhood in which she was denied parental affection; never praised, never valued, never even hugged by her father. She generalised from that experience: “Women are always ready to believe that men love them, despite all appearances to the contrary.” — TNS

Unluckiest!

IF there were a prize for the world’s unluckiest man, British solicitor Edward Bentley would surely be in the running. His first mistake was to lose thousands of pounds in bad investments.

And disaster followed when he tried to recoup the losses by gambling with money stolen from clients, British newspapers reported. His first idea was to fly to Monte Carlo and place a single £ 60,000 roulette bet on either the red or black, which would have doubled his money had he won.

But the casino’s maximum stake on this kind of bet was £ 10,000 so he flew back frustrated. Next he tried betting on racing and after careful study of the form books placed a £ 10,900 on a horse which was bound to win. It fell.

Then he tried the stock market, buying a risky £ 49,000 futures option which promised a huge reward if the main FTSE-100 index fell. It rose, leaving him with a grand total of £ 1,000 from his original stake.

By now Bentley must have realised his luck was not going to improve and he tried to commit suicide by sitting in his car with a pipe from the exhaust pumping noxious gases into the vehicle. The engine promptly seized up. He tried again, but his second attempt was halted after police stopped him during a routine vehicle check. He told investigators the theft had turned into a “comic opera.”

Bentley’s only stroke of luck was finding a lenient judge, who gave him a 15-month suspended sentence on Friday for stealing £ 64,000 of his clients’ money.

Of excellence

Alan Goodman is a man at the cutting-edge of science and a multi-millionaire businesman. And his enthusiasm for both elements of his chosen career is infectious.

He left school at 16 and spent the early years of his career as a trainee accountant with ICI. Then came a stint with the Trebor sweets group.

But his first love was science. O-level physics was not an option at school, so he got the qualification by teaching himself and later embarked upon a maths degree.

Even now, with a paper fortune worth millions, he still says his ideal career would have been as a mathematician because of the “elegance and purity” of the subject.

But for the past 15 years he has been immersed in the world of biotechnology.

At 48 he is Chairman of two quoted companies — one in vaccines and one specialising in gene therapy cancer treatments — in which he has share stakes worth some £ 4 million.

Yet they take just 50 per cent of his time and he fills the rest of his working hours heading a private biotech company working on diseases of the central nervous system and directing an investment fund which provides financial backing for new biotech start-ups.

Goodman says he looks for three things when his Quantum Healthcare Fund is approached by would-be health entrepreneurs.

I look for excellence in scienec, the desire to succeed and the ability to enumerate complex science very simply. — Agencies

by R.N. Lakhotia

Q: I am working in Haryana Govt. I have been given the arrears of revised pay scales amounting to Rs 42,000 in the current financial year. These arrears are for period 1.1.96 to 31.12.98. Please intimate whether this arrear can be split into previous years and how? Is income tax rebate admissible, if arrear is split into previous years.

I have a plot in Sector-8, Ambala. I was sanctioned a loan for payment of instalment towards the price of plot. Can I claim any Income-tax rebate on this loan.

— B.B. Mehta, Manimajra

Ans: In respect of arrear salary received by you, the arrear can be split by your employer in terms of Section 89 (1) of the Income-tax Act, 1961. No deduction can be claimed in respect of loan payment of an instalment merely for the cost of the plot. The deduction either for interest or the deduction for payment of instalments, etc. is available only when the payment is towards purchase or construction of a residential house and the payment is on account of any instalment, etc. for such house. Hence, merely in respect of land the instalment payment will not be allowed as a deduction.

Q: My saving during the Financial Year 1998-99 will be as under:

GPF Rs 39, 000
LIC Rs 3513
ULIP Rs 12000
NSC Rs 16000
Total Saving Rs 70513

Kindly let me know that whether I shall get tax rebate of Rs 14000 @ 20 per cent of Rs 70,000 or Rs 12000. It is further intimated that I am a Govt. servant.

— A.C. Sharma, Amritsar

Ans: On the facts stated by yoy, you are eligible to tax rebate on the maximum amount of Rs 60,000 @ 20 per cent. Hence, the maximum tax rebate available to you be Rs 12,000. You should make investment of Rs 10,000 in other specified investments so as to be eligible for tax rebate on the higher amount.

Q: My query is regarding “Capital Loss”. If there is resultant loss under the head “Capital Gains” then can it be adjusted in any other way such as carry forward to the next accounting year and how?

— Tarsem Jain, Patiala

Ans: The resultant loss under capital gains cannot be adjusted in any way against any other income of the year. The said capital loss will be allowed to be adjusted in subsequent 8 years only against capital gains.

Q: My friend is working in a foreign country for a limited time. As per terms and conditions of service, he is to get his salary in foreign currency free of tax. He is interested in knowing about the tax aspect of the amount he brings to India at the expiry of the assignment, in foreign currency. Will it be tax free? If not, what steps are required to save the tax? For a Senior Citizen, there is a tax rebate of Rs 10,000. Is this tax rebate still available, if his net taxable income exceeds Rs 1,25,000 in the accounting year 1997-98.

— Parkash Chand, Ambala Cantt.

Ans: Any amount brought to India in foreign currency would not be liable to income-tax. For a senior citizen the tax rebate u/s 88B would be Rs 10,000 even when his taxable income exceeds Rs 1,25,000 for the Assessment Year 1998-99.

Q: I am a senior citizen of 65+ years of age. Also I am a retired employee with no pensionary benefits. I have no other source of income except that from interest on bank deposits and U.T.I. dividend. This comes to about Rs 60,000 per year.

Now I want to withdraw Rs 50,000 from the Post Office which I deposited earlier under National Savings Scheme of 1987. Can I fill in form 15-I and get the amount without any deduction of tax at source. will it be all right?

— R.C. Aggarwal, Panchkula

Ans: On the facts stated by you by submitting Form No. 151 no tax will be deducted at source in respect of withdrawal of the money from the N.S.S. A/c with the Post Office.

by A.K. Sachdeva

Q: Our company is engaged in the business of manufacture and sale of vegetable ghee in Punjab being a dealer registered under the Punjab General Sales Tax Act, 1948 and the Central Sales Tax Act, 1956. During the assessment year 1995-96 we have had sent certain consignments to our agent based in Uttar Pradesh for sale on commission basis. The agent undertook to provide us with form ‘F’ for the despatch of the material but subsequently he declined to issue the same for one reason or the other. This also led to a dispute with him which is presently pending adjudication in the appropriate court of law. The assessing authority during the course of the assessment proceedings opines that the claim of transfer of goods to the agent for which form ‘F’ have not been produced is not admissible and he therefore proposes to tax these transactions as inter-state sales. Kindly advise.

— Anupam Sethi, Ludhiana

Ans: The provisions contained in section 6A of the Central Sales Tax Act, 1956 lay down the complete procedure as to how a dealer transferring goods to his agent based in some other state can claim exemption from the payment of tax. According to the existing scheme of the Act it is for the dealer who claims exemption from payment of tax to prove before the appropriate assessing authority that the movement of goods from one state to another was occasioned by reason of transfer of such goods to his agent and not by reason of sale in the course of inter-state trade or commerce.

This burden can be discharged by the dealer either by way of filing a declaration which is called form ‘F’ or by adducing some other documentary evidence which proves that the movement of goods from one state to another has taken place otherwise than by way of a sale. That being so, even if the agent has refused to issue the prescribed declaration against the dispatches of the material, it is still open to the queriest to submit some other documentary evidence such as copies of goods receipts, delivery challans or statement sent by the agent remitting the sales proceeds of the goods. In other words, it is not mandatory to furnish from ‘F’ in support of the claim of exemption from payment of tax in terms of section 6A of the Central Sales Tax Act, 1956.

Q: During the assessment year 1996-97 we filed returns before the assessing authority being a registered dealer under the provisions of the Haryana General Sales Tax Act, 1973 and the Central Sales Tax Act, 1956 wherein adjustment of first stage tax was claimed on account of tax paid purchases made from within the state. At the time of assessment, the assessing authority proposes to reduce the claim of set-off to some extent on the ground that some goods in relation to tax paid account were lying in stock with us as on March 31, 1997. We have resisted to this proposal by filing an objection on the plea that rule 24-A of the Haryana General Sales Tax Rules, 1975 permits adjustment of tax to full extent. Kindly advice.

— M.L. Sharma, Bhiwani

Ans: As per the existing provisions of rule 24-A of the Haryana General Sales Tax Rules, 1975 which rules to the admissibility of benefits of tax adjustment, a registered dealer has no right to claim the benefit of adjustment so long as the goods are not disposed of. If the goods are still lying unsold with the dealer buying tax paid goods, the claim of set-off cannot be permitted by the assessing authority.

Admittedly, in the case of the queries the assessing authority proposes to reject the claim of set-off to the extent of tax involved in the tax paid goods remaining unsold at the close of the year under assessment. Therefore, the view expressed by the assessing authority is fully in accordance with the provisions of law.

Silver dips
NEW DELHI, March 6 (PTI) — Silver prices dropped on the bullion market today on stockists offering on global advices and closed with losses. Elsewhere, gold and silver coins hold previous position on scattered buying support. The quotations: silver .999 (ready) 7850, delivery 8150, coins buyer 10,500 and seller 10,700. Standard gold 4400, ornaments 4250 and sovereign 3800.

Elected
YAMUNANAGAR, March 6 (FOC) — The following have been elected office-bearers of the Jagadhri Metal Manufacturers and Suppliers Association here. President — Mr Jai Bhagwan Garg; Vice-President — Mr R.K. Saluja; General Secretary — Mr Sunder Lal Batra; Joint Secretary — Mr Satyendra Kumar Jain; and Cashier — Mr Arun Kumar Garg.

Alcatel
CHANDIGARH, March 6 (TNS) — Alcatel Professional & Consumer Division (Alcatel PCD), part of the global telecommunications giant, Alcatel, launched the One Touch TM Pocket cellular phone in Mumbai today. It was launched in association with Max Touch TM, a leading cellular service operator in Mumbai. The One Touch TM Pocket will be available through distributors and retail outlets of Max Touch TM.

Exhibition
LUDHIANA, March 6 (TNS) — Mr Apinder Singh Grewal, Mayor of Ludhiana, today inaugurated “Aashiana-99”, a three-day exhibition on building materials. More than 50 traders are displaying their products including ceramic tiles, concrete blocks, sanitary ware, bathroom fittings, pipe fittings etc. in the exhibition.