Sunday, August 5, 2001,
Chandigarh, India

 

L U D H I A N A   S T O R I E S

 

 

Inflated estimates for projects a routine in MC
Kuldip Bhatia

Ludhiana, August 4
Close on the heels of an incident in which a junior engineer of the Municipal Corporation was suspended and subsequently reinstated on charges of preparing an inflated estimate for paving of streets in Ward No 61 in the city, another classic case of grossly inflated (more than three times) estimate for laying of sewerage pipes in Satguru Nagar (Ward No 29) has come to light. Ironically, the MC administration has taken the matter very lightly and instead of fixing the responsibility the matter has been sought to be brushed under the carpet by terming it as a clerical error.

The O and M Cell in the MC had prepared an estimate of Rs 14.47 lakh for laying 8” dia storm water pipe sewer in Street Nos. 6, 7 and 8 in Satguru Nagar and the work was allotted vide work order No. 173/G/33 dated February 28, 2001, to M/s K.K. Construction Company against their tender for Rs 11,67,592. While the work was near completion, supervising officials found that the contractor had already obtained a payment of Rs 4,49,535 against his running bill and mere Rs 35,000 would become payable for the balance work.

On the intervention of the area councillor, Mr Kashmir Singh, MC officials asked the contractor to lay sewer pipes in Street Nos 8, 9, 9½ and 10 in Basant Nagar for which an estimate of Rs 6,73,667 was already prepared. The tendering firm agreed to execute the work on the previously quoted rates, which worked out to Rs 5,49,780. Going by the original estimate, prepared for laying of sewer pipes in Satguru Nagar, even more than double the quantity of work involved a total expenditure of Rs 10.34 lakh or 71 per cent of the estimated cost.

An agenda item, seeking approval of the Finance and Contracts Committee of the MC, for the work of laying sewer pipes in Basant Nagar colony in the same ward, described the excess amount of estimate as a ‘clerical mistake’.

Reliable sources in the MC revealed that preparation of inflated estimates for development works in almost all branches of the civic body was a routine, rather than an exception. The funds siphoned off in the process were proportionately shared between the colluding MC officials, councillors and contractors, the sources added.
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Penury not glory is INA veteran’s lot
Kanchan Vasdev
Tribune News Service

Bhaini Arora (Ludhiana), August 4
For years, she along with her husband fought for the country’s freedom. Five decades after the realisation of their dream, Sarjit Kaur, an INA veteran, is still fighting for the recognition of her husband’s contribution to the country’s Independence. Her husband Hazoora Singh Chahal, had died long ago unsung and unrecognised.

Not only the nation but a majority of residents of this sleepy hamlet are also unaware of the INA veteran who was living, unnoticed and unsung, amidst them, since Independence.

Hazoora Singh Chahal, who was with Netaji Subash Chander Bose at Singapore during 1944 to 1945 and his wife, Ms Sarjit Kaur had not only sacrificed their youth but their child for the country’s freedom. Ms Sarjit Kaur claims that she had to throw her newborn baby while at Singapore as she could not bear the condition of the starving infant. Substantiating her claims she shows the picture of her baby bearing stamp of a studio in Singapore.

Though bitter at the treatment given to them as they had not been able to get pension or recognition even after 52 years of independence, Sarjit Kaur is still hoping that she would get a pension as her son Mr Jarnail Singh is making all efforts to get it.

According to the documents produced by Sarjit Kaur, Hazoora Singh had joined the Indian National Army on February 23, 1944. He worked as a Havildar with 1/8 Guerilla, First Battalion, A. Coy no. 34451. His area of operation was Ipoh Perak, Malaya and Captain Bhaskar C.Com of Maharashtra was his Commander under whom he had served.

The documents also said he was imprisoned for seven months at various jails at Ipoh and Bidda Dari Camp in Singapore. He had to surrender in November 1945 to the British Army.

He had also furnished this information to the Ministry of Home Affairs, Government of India after the Deputy Secretary had asked him for it through a letter (No. 27L/11997/74) addressed to him in 1974.

His correspondence with the Centre and state governments continued for more than 40 years but even then he did not get any pension or economic relief which was provided to the INA veterans. In a letter (dated January 30, 1958) written to the Secretary to the Government of Punjab Hazoora Singh had given the details of his tenure with the INA at Singapore and had asked for the economic relief. But he did not get any positive response.

He did not get a pension even after another INA veteran, Lt Kirpal Singh, INA, 2/8, Guerrilla Regiment, had declared under oath that Hazoora Singh was imprisoned in Ipoh with him for several months.

His fight to get pension ended with his death but his wife is still waiting for the day when her husband’s struggle for the freedom of country would be recognised and she would be given pension which would be the only means of her livelihood.

Ms Sarjit Kaur said she was not getting even old-age pension even though she was running from pillar to post.

Her neighbours told Ludhiana Tribune that she had no income and was dependent on other villagers for food.
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ASI faces inquiry for selling junk
Tribune News Service

Ludhiana, August 4
An in charge of a police post in the city is in the centre of a controversy regarding the alleged sale of some parts of rusted vehicles stored in the police post as case-property. The district police has initiated an inquiry into the case.

The inquiry has been entrusted to the SP (Headquarters), Mr Naunihal Singh, on the directions of Mr Suresh Arora, DIG Ludhiana Range. The inquiry has been ordered after a Home Guard complained to senior officers that Mr Mukesh Kumar in charge, Atam Park police post, had sold parts of the rusted vehicles. He has been accused of pocketing around Rs 25,000 in the deal. The Home Guard is learnt to have furnished evidence in support of his allegations.

A senior police official preferring anonymity, has confirmed the allegations as well as the inquiry orders. He said, however, it was too early to comment on the veracity of the allegations, as the statement of the police personnel and others persons concerned with the alleged sale was yet to be recorded.

Sources said according to the preliminary reports, some kind of sale had definitely taken place at the police post in the last few weeks. However, it was yet to be ascertained whether the items sold included parts of the case-property vehicles or scrap of furniture or some other items repaired recently by the police post officials.

The sources said the inquiry has been concentrating on the possible angle of personal rivalry between the parties concerned.

It was being alleged that the complaint Homeguard and a Head Constable of the police post concerned were not on good terms with in charge Mukesh Kumar. ASI Mukesh Kumar when contacted, admitted that some scrap was sold but clarified that it did not include parts of the case-property vehicles.

He said he had joined last month as in charge of the Atam Park Police post.

He claimed that he took personal initiative in cleaning the post and had got it repaired and renovated. He said consequent to the repair certain worn out iron pipes and other building material, including rubble, apart from broken furniture was sold as scrap. The quantity was substantial and it fetched about Rs 10,000 to the police.

He said he had deposited the amount in the police post. He claimed to have sent a complete report about this to senior police officials and had also maintained a record about it in the Rojnamcha.

Denying the allegations he said he had complained about a Home Guard and a Head Constable posted at the police post and it was probably due to this that the false complaints had been lodged against him.
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Innovative way of celebrating raksha bandhan
Tribune News Service

Ludhiana, August 4
Om Praksah a small-time shopkeeper in the Field Gunj area, has no brothers or sisters. But he did not feel disappointed today on raksha bandhan. He tied not just one rakhi but two on both his wrists. And no ordinary rakhis. Each rakhi was strapped with Rs 500 notes amounting to Rs 25,000 each.

As he tied the two rakhis on his two wrists, he went around the market on his motor cycle displaying rakhis with pride.

Om Prakash had all the reasons to celebrate rakhsha bandhan with such enthusiasm.

He was lucky enough to have got his money back from the sale of his UTI share before the shares crashed.

Others also celebrated the rakhi with equal enthusiasm in the city and around.

It was not just the sisters tying the rakhi to brothers, but even brothers tying the rakhis to brothers. The sisters of the Brahmakumari mission also tied rakhis to hundreds of people, while at the same time conveying the message of brotherhood.

Raksha Bandhan is one of the few festivals which is celebrated by people of different sects and ages together.

Moreover, it leads to the permanent bonds of love and care between people.

Sisters would travel mile to reach their brothers for tying the rakhis on their wrists.

The markets were abuzz with hectic activity usually associated with the raksha bandhan. There was a huge rush at the gift and sweet shops.

Some leading sweet shops of the city witnessed unprecedented rush of customers.

Long queues of customers could be seen outside these shops. And fruit sellers also did brisk business.

Another important feature of rakhsha bandhan was, the flying of kites.

The sky was coloured with a collage of different colours as people, particularly the young ones, were flying their kites from roof tops.
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‘Punish those responsible for ’84 riots’
Our Correspondent

Mandi Gobindgarh, August 4
“Centre has failed during the past 18 years to take action against H. K. L. Bhagat, Jagdish Tytler and others who were alleged to be involved in 1984 anti-Sikh riots in Delhi,” Mr Karnail Singh Peermohamad, president of the All India Sikh Federation (AISSF), said while addressing a workers’ meeting of circle Mandi Gobindgarh on Friday at Sangat Pura Mohalla.

Mr Peermohamad threatened to launch a nationwide stir if the alleged culprits were not punished. He said Mr Atal Behari Vajpayee had constituted Nanavati commission to prepare a report of the riots, but no action had been taken against any person.

Mr Randhir Singh Cheema, former minister, Punjab, urged the youth workers to adhere to the Sikh principles and to launch a campaign against the use of drugs among the Sikh youth.
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Residents rue lack of civic amenities
Our Correspondent

Ludhiana, August 4
The sanitation wing, working under the Health Department of the Municipal Corporation, continues to be in poor health, tall claims made by the MC administration to the contrary notwithstanding.

The threat of an epidemic-like situation in several city localities and swelling number of patients, suffering from cholera, gastro-enteritis, malaria and other contagious diseases, in local hospitals, has failed to move the MC health administration in action, which remains as indifferent and apathetic as ever.

Residents in city localities, including those in posh areas, almost without exception, complain of worst insanitary conditions, with heaps of decomposing garbage, overflowing garbage containers, lack of adequate cleaning of streets and roads, choked and back-flowing sewers and contaminated water supply. The slipshod preventive measures, like fogging and anti-malaria spray, distribution of chlorine tablets and ORS packets, coupled with a poor sanitation level, has worsened the situation to an alarming level, exposing city population to serious health hazards.

While MC officials attribute the hue and cry by the people over sanitary conditions to the inadequate number of safai workers, totally disproportionate to the size of population in the mega city, reliable sources maintain that even the available number of 2,000-odd employees are not being properly utilised. The mohalla safai committees, set up by the MC to involve the residents representatives in the sanitation work, had also proved a fiasco, amidst allegations of funds provided by the civic body for payment to safai workers, engaged on a contract basis, being misappropriated and non-existent workers being shown on the rolls of these committees.

Several shopkeepers and hotel owners around Society Cinema rued that the insanitary conditions prevailing in the area had to be seen to be believed. In the absence of regular safai workers, garbage and other discarded material continued to be littered around the container, which emitted an unbearable stench. Several representations made to health officials of the MC by shopkeepers and other residents had failed to evoke any response so far.

Residents in Chet Singh Nagar in Janata Nagar were getting blackish and highly polluted water from the taps for the past several days. Mr Madan Pal Bedi, a resident of the area, told Ludhiana Tribune that apparently the water supply residents were getting was getting mixed with sewage due to some leakage somewhere. Their fervent pleas to area councillor, Dharam Dev Kaka as well as MC officials had proved futile.

The plight of residents in Street No. 4 of New Janata Nagar, Near ATI, is still worse. Some vacant plots in the street were being used as dumping grounds for household waste and garbage, both by safai workers of the MC and the people, residing around these plots. Mr Kuljit Singh Chitarkar and Dr Ajmer Singh, residents of the locality, say that these plots, besides becoming a breeding grounds for flies and mosquitoes, were frequented by stray animals, who littered the entire place with rubbish and garbage.

The area residents were sore at the virtual disappearance of safai workers from the area. Some housewives in the locality disclosed that the streets were hardly ever swept and safai workers deployed in the area expected residents to pay them for whatever little work they did. However, most of them performed well around festival days in order to collect money and thereafter repeated the vanishing trick.

While people in general complained of garbage and waste, littered all around the garbage containers kept at various places in the city, the problem of shopkeepers in Guru Nanak Market, Dugri was entirely different. They complained that the container, lying in the park opposite the market, had been removed for reasons best known to the MC authorities. As a result, garbage and refuse was being dumped in the open and the entire area around the market, had become a hunting ground for pigs, stray dogs and other animals. The stench from rotting heaps of rubbish had become a big nuisance for shopkeepers and customers.

Guru Nanak Market shopkeepers have also drawn the attention of the MC administration towards the construction of a road, which had been left incomplete for the past more than four months. The construction done so far, shopkeepers charged, was of poor quality and after the recent spells of rain, the entire stretch of road had become full of potholes. 
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Protest against female foeticide
Tribune News Service

Ludhiana, August 4
The Malwa Sabhyachar Manch today staged a demonstration denouncing the female foeticide which has adversely effected the sex ratio in the state. The demonstration was organised to coincide with the holy festival of Raksha Bandhan, when sisters tie rakhi on the wrist of their brothers and pray for their safety and welfare.

According to the chairman of the manch, Mr K.K. Bawa, the demonstration was planned today only to make people realise that the girls are as important as boys. He pointed out that Raksha Bandhan, the festival of sisters, was the best occasion to highlight this issue.

Hundreds of people representing different sections of the society participated in the demonstration. Cutting across party lines people joined the demonstration to register their concern over this problem that is assuming alarming proportions in the state.

Addressing the audience, Mr Bawa urged the youth to create awareness among the people, particularly in the rural areas about the dangerous trend of female foeticide. He pointed out, the sex ratio was disturbing and a cause for concern.

Speaking on the occasion the Chairman of the Indian Youth Congress (Urban Development Cell) Mr Pawan Dewan underlined the importance of creating awareness about this problem. He said, it was a serious social problem. He observed, there were other problems related to it. He said, this campaign would be followed up with the awareness against dowry problems.

Mr Gurbhajan Gill an eminent Punjabi poet pointed out that girls were no longer in any way behind the boys now. He said they had excelled in all fields of life and had even outsmarted boys in different fields. He observed, there was a need for creating an awareness among people about these things. He also demanded a ban on the sex-determination tests as they were primarily responsible for this problem.

Mr Akshay Bhanot a youth Congress leader said, all the places where sex determination tests were being conducted should be imposed with severe penalty. 

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Udham Singh remembered
Our Correspondent

Ludhiana, August 4
Shaheed Udham Singh Memorial Trust, Ludhiana, organised an impressive function to commemorate the sacrifices made by the great martyr Udham Singh and mark his 61st martyrdom day at Shaheed Udham Singh Library at Thind market here on Thursday.

Dr Jaswant Singh Chamak, secretary general of the trust, dwelt at length on the heroic exploits of the great martyr in the pursuit of freedom for the country. He said Udham Singh was a man with total conviction for the cause. He chased Michael O’Dwyer, responsible for the massacre, for 21 years before shooting him in Caxton Hall, London, on March 13 ,1940 and kissed the gallows on July 31 in a London prison, said Mr Charmak.

The German radio had also in its broadcast on March 13,1940 commented on the incident as “The cry of the tormented people thus spoke with shots”.

Dr Chamak lamented that the Punjab government was dithering on the issue of allotting land to the trust for constructing Shaheed Udham Singh Memorial Bhavan at Ludhiana.

Participants at the function, passed a number of resolutions and appealed to the Chief Minister to fulfill the demands, which included, a two-acre plot in the jurisdiction of Ludhiana Municipal Corporation for raising Shaheed Udham Singh Memorial Bhavan, wherein a library, a charitable dispensary, a computer centre and an academy for poor sections of the society could be set up.

Secondly, a chair in the name of “Ram Mohammad Singh Azad- Udham Singh” should be set up in any of the universities of Punjab, preferably in the department of economics and sociology, PAU, Ludhiana, the trust demanded.

The third resolution said a portrait or a statue of the great martyr should be installed in the precincts of the Punjab Vidhan Sabha and the Lok Sabha alongwith those of other martyrs of the nation.

Mr Kundan Kamboj and Dr Chamak were applauded for their rendering of patriotic poems on Udham Singh.

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CITY SCAN
A college that binds two cities
M. S. Cheema

A Tale of Two Cities binds Paris and London with a sentimental cord. There is another tale of two cities that awaits a Dickens of Punjab. The cities are Ludhiana and Gujranwala. A manifestation of the historical bridge is Gujranwala Guru Nanak Khalsa College. For brevity it is known as GGN.

Gujranwala is full of glory. This district has been a nursery of eminent persons. Dr Mathura Dass Pahwa (Eye-surgery-wizard, Moga fame), Dewan Singh Maftoon (Riyast fame), Swami Ram Tirath (mystic and philosopher), Kalidass Pipnakha (poet), Bawa Budh Singh (Critic) and Amrita Pritam, to name a few. Khalsa College (Gujran-wala) is the second oldest among Khalsa Colleges, next only to the famous Khalsa College of Amritsar.

This Khalsa College has passed through two distinct phases-pre-partition (1917-47) and post-partition (1953 onwards). The first is Gujranwala-based, the second is in Ludhiana. This institution links two cities, two Punjabs, two countries. It also welds two eras of time.

The founder- principal was Mr Moore, M.U. possibly from the elite pool of I.E.S. Teja Singh, Bhai Jodh Singh and Bawa Harkishan Singh headed the faculty. Prof Kirpal Singh Narang, Prof Sahib Singh, Prof Fauja Singh, Prof Karam Singh Gill besides several luminaries served on its staff.

During those historic three decades this college served the Rachna Doab. It developed a big campus with science laboratories, theatres, a rich library, besides a hostel . Its alumni include historians Dr Mohd Yusuf Abbasi, Dr Kirpal Singh, Lt-Gen. J.S. Bawa , Lal Singh (IAS), Iqbal Singh (IAS), K.S. Narang (IAS), and Mr Justice Harbans Singh (Chief Justice Punjab and Haryana H/Court).

In 1947, many dreams were shattered . It took full six years to rehabilitate this institutions. An eminent educationist, Prof Maha Singh, accepted principalship. Devoted persons like Giani Lal Singh, Raghbir Singh, Sant Singh Aroop, Giani Harjit Singh, besides those committed to the academic service worked as a team. The College retained its Gujranwala legacy. It was not merely a rehabilitation, it proved a resurrection.

The institution came to be known as Gujranwala Guru Nanak Khalsa College, Ludhiana. It bridged the gap of six years (1947-53). Subsequent Principals Sujan Singh, Sardul Singh, Joginder Singh, Kuldip Singh and the faculty worked hard. The college invited its alumnus from Pakistan, Dr M. Y. Abbasi, to address one of its convocations.

The college displays an Honours Board reminding visitors that Principal Bhai Jodh Singh, Prof K.S. Narang, became vice-chancellors of Punjabi University, Patiala; Prof K.S. Gill, Dr J.S. Grewal and Dr S.P. Singh, became vice-chancellors of G.N.D. University, Amritsar. Prof Sujan Singh served as Registrar Panjab University with distinction. There are many high chairs occupied by one-time members of its faculty. Among the post-partition alumni we find Nirmal Singh Grewal (Asiad-Silver Medallist). Charanjit Singh Atwal (Speaker, Punjab Assembly), Maheshinder Singh Grewal (Ex-minister). Lt Col Raminder Singh, Captain of the national hockey team.

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SAD-BJP govt betrayed people: Ghalib
Our Correspondent

Ludhiana, August 4
Mr Gurcharan Singh Ghalib, Congress MP, has charged the SAD-BJP government with total betrayal of the people and pursuing such ‘anti-people’ policies that had led to virtual ruination of trade and industry and total frustration among all sections of people, including farmers, government employees and students.

Addressing a function in Sarinh village in the course of his tour of villages in Ludhiana rural Assembly segment to distribute development grants from his discretionary funds, Mr Ghalib ridiculed Mr Badal for his ‘sangat darshan’ programmes to dole out funds in order to woo the electorate. “The ruling combine had forgotten the ‘sangat’ for more than four years and now, when the Assembly poll are due, the Chief Minister is trying to win back the support of the masses through indiscriminate distribution of grants.”

Mrs Harinder Kaur Alamgir, member, Punjab Pradesh Congress Committee, Mrs Darshana Devi, sarpanch, Sarinh, Mr Harbans Singh, sarpanch, Dangora, Mr Balbir Singh, sarpanch, Kaid, Mr Shangara Singh, sarpanch, Rania, along with a large number of Congress activists, accorded a welcome to Mr Ghalib on this occasion.

Addressing the meeting, Mrs Alamgir made an appeal to the party activists to mobilise the public in favour of the party and to prepare for the coming elections in order to rid the state of the misrule by the SAD-BJP coalition. She expressed confidence that the Congress would inflict a crushing defeat to the ruling combine and come back to power under the dynamic leadership of the PPCC President, Capt Amarinder Singh.

Mr Ghalib presented a cheque for Rs 1 lakh for the village dharamshala to the sarpanch, Mrs Darshana Devi, and assured that needed funds would be made available for other development projects in the villages, falling in the Ludhiana rural segment.

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‘Shobha yatra’ to mark Janmashtmi
Our Correspondent

Ludhiana, August 4
Shri Sanatan Dharam Mahotsav Committee will take out the 50th annual ‘shobha yatra’ on August 10 in connection with the Krishan Janmashtmi festival on August 12. This was stated by committee chairman, Mr Madan Lal Chopra in a press release issued today.

Mr Chopra said the yatra would commence from Daresi Grounds at 3 p.m. and was likely to end at Haridev Mandir Chowk at around 7 p.m.

Apart from religious personalities, such as Jagdaguru Madhavashram, Swami Ved Bharti and Swami Nigam Bodh who would lead the shobha yatra, a large number of political figures, including Mr Sat Pal Gosain, Mr Rakesh Pandey, Mr Gurcharan Singh Ghalib, Mr Jagdish Loomba and Mr Sham Sunder Malhotra would also attend the function.

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Harassment of traders’ by MC staff
Our Correspondent

Ludhiana, August 4
Akal Market Shopkeepers’ Association has charged the octroi staff of the Municipal Corporation with harassment of traders, who they alleged issued threats to extort money through various arm twisting methods. A deputation of traders led by Mr Amarjit Singh Happy, president of the association, met the MC Additional Commissioner, Mr Raminder Singh on Friday and demanded stern action against the defaulting employees.

Mr Happy in a press release cited various instances of corruption and highhandedness by octroi staff. Mr Raminder Singh assured the deputation that the matter would be inquired into and strict action would be taken against the defaulting employees. It was later learnt that the goods seized from one Iqbal Ahmed whose case was also cited were returned back in the afternoon and the employees, reportedly involved in the incident at the Railway Station, would appear before the officials holding inquiry on Monday.

Among others who went in deputation were Mr Arvinder Singh Tony, Mr Surjit Singh Lamba, Mr Rajinder Singh Jolly, etc.
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LSE business hit
K. S. Chawla

Ludhiana, August 4
With the implementation of ban on “badla” and introduction of rolling settlements since July 2, the volume of business of not only of major stock exchanges like NSE and BSE but of regional stock exchanges has gone down drastically and Ludhiana Stock Exchange has also suffered.

The daily turnover of Ludhiana Stock Exchange (LSE) has nosedived from an average of about Rs 15 crore in June, 2001 to little over Rs 3 crore in July 2001. This is significantly lower as compared to the average turnover of Rs 40 crore recorded by the LSE in July 2000-recording a fall of 92.5 per cent.

Members of the LSE used to trade only on terminals of LSE itself. Subsequently LSE established connectivity with Mumbai Stock Exchange in September 2000 and with the National Stock Exchange (NSE) in December, 2000 through its wholly owned subsidiary LSE Securities Limited. As a result of this connectivity with BSE and NSE, the combined daily turnover of LSE alongwith its subsidiary-LSE Securities Limited rose to an average of about Rs 75 crore to Rs 84 crore in January and February, 2001.

With the unearthing of stock scam soon after the presentation of the Union Budget, the turnover recorded a sharp fall of 50 per cent which used to be in the range of Rs 30-40 crore a day. The business of LSE further suffered a setback when the Income Tax Department conducted large scale surveys in the month of March and the daily turnover was reduced to about Rs 25 to 30 crore which has now fallen to an average of only Rs 18-19 crore-recording a fall of about 60 per cent after the commencement of compulsory rolling settlement and ban on “badla”. The market watchers and particularly members of the LSE and other investors are concerned to note that there does not seem to be any chance of revival of the market in the near future.

Mr R.C. Singal, president, Ludhiana Stock Exchange, admitted that the volume of business at LSE has indeed declined by about 60 per cent since the shift to trading on rolling settlements mode but was hopeful that volumes would pickup once the general market scenario improved.

Mr Singal said the management of the LSE was seized of the matter and with a view to increase the volume and also help members of LSE and the investors at large in this part of the country. It proposes to commence trading in derivative products via NSE and BSE through its wholly owned subsidiary-LSE Securities Ltd. and for that LSE has already approached the SEBI to allow its members to trade in derivative products. 

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Industry resents ‘overload’ levy
Our Correspondent

Mandi Gobindgarh, August 4
The Punjab Government decision to impose an overload slip for excess load at the rate of Rs 150 PMT on Punjab registered vehicles and Rs 300 PMT on other states registered vehicles was a death blow to iron and steel industry of the region and specially at Mandi Gobindgarh, which sustains only on import of raw material and export of finished goods.

The market rates have crashed and the freight rates have got higher rendering the trade and industry unable to compete with other stations.

This was stated by Mr Bharat Bhushan Jidal, Mr Joy Kutty and Mr J.P. Sharma president, senior vice-president and general secretary, respectively, of the Gobindgarh Steel Chamber of Commerce and Industry, in a press release here today.

According to the press release, business community has been highly resentful of this levy. The situation has become explosive and shall lead to an unprecedented strife if the overload slip was not withdrawn immediately, said the press release.

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