Sunday,
May 19, 2002, Chandigarh, India  
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Now Pizza Hut in soup over beef
Ind Swift to launch formulations overseas
New Siena models in city
Malaysia plans more flights from India |
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Regular Appointment
Replace IT with living tax
Oriental Bank net zooms 58 pc
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Now Pizza Hut in soup over beef New York, May 18 Pizza Hut Inc. is a subsidiary of Tricon Global Restaurants
Inc. and is recognised as a leader in the $25 billion pizza category. Exactly a month before an Illinois court on May 1 gave preliminary approval to the McDonald’s settlement, Seattle-based Bharti had filed a suit against Pizza Hut, claiming that yet another favourite American chain had lied about what was contained in its vegetarian pizzas. McDonald’s had said the oil used to cook its popular French fries contained no beef extracts, a claim Bharti proved wrong. The April 1 class action for Pizza Hut has been filed at a Superior Court in Washington in and for King County. Bharti’s brief alleges the chain “intentionally failed to publicly disclose its continued use of beef product in its pizza and other food items sold as vegetarian.” Pizza Hut spokesperson Patty Sullivan denied the claim. “There are no beef products in the Veggie Lover’s pizza... the pizza sauce is pure. It does not contain beef or chicken flavouring,” she said. Pizza Hut fully discloses all ingredients on its website in view of dietary requirements of customers and the firm exceeds federal labelling and disclosure requirements, she claimed. “The enzymes used in our pizza cheese, both shredded and sliced, are vegetable/microbial based,” Sullivan added. But Bharti said this was not the case and has attached a sworn affidavit of one of his clients that declares she had been told by Pizza Hut employees that there was beef in the enzymes. “They say there is no beef in the vegetable pizza. Our claim is they have 50 per cent beef in their cheese,” Bharti said. “I am not surprised that their initial knee-jerk reaction is to deny. First we are going to have them admit it. Just as you saw how McDonald’s denied it. It took them (McDonald’s) three months to apologise and admit. It’s perhaps too early for Pizza Hut.” Bharti said the notification of the McDonald’s settlement was going to be published in various papers by the end of May. “This (Pizza Hut) case is much better than McDonald’s, the reason being that when McDonald’s was selling fries they did not say ‘vegetarian’ fries. But these guys (Pizza Hut) are saying ‘vegetarian’ pizza,” Bharti contended. The feisty lawyer, who came to the USA in 1983 after practising in the High Court of Punjab and Haryana, continues to work here on other seminal-class action cases, including one against the Boeing Corporation for discriminating against the Indian Americans. Pizza Hut has 8,000 units in the USA and more than 4,000 in 88 other countries.
IANS |
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Ind Swift to launch formulations overseas Mumbai, May 18 According to company sources, the patents are for the products in the anti-histamines and anti-infectives segments. The company is conducting further studies on these molecules after which the products will be introduced internationally. It expects to get the patents for these products by 2004-2005, the company told the BSE in a communication today. “These are the leading molecules with world market of over $4 billion and $2 billion, respectively, and they are growing annually at a rate of over 30 per cent and 10 per cent,’’ a company official said. “The presence of Ind-Swift Labs, a group company dealing in APIs (Active Pharmaceutical Ingredient) in the international market with an export turnover of over Rs 40 crore, will facilitate the smooth entry of the ISL in those market,’’ he added. The company is in advanced stage of negotiation with leading generic companies for licensing of these products for the domestic and international markets. “We will finalise the same as soon as the bio-equivalence studies are completed and the application is moved for final registration in the European and other regulated markets,’’ the official said. The company also plans to file patents for other drugs besides filling two Abbreviated New Drug Applications by 2004-2005. The process for regulatory approvals for the group’s manufacturing facilities is at an advanced stage. Ind-Swift is directing its investment towards upgrading the manufacturing standards of the existing three GMP compliant state-of-the-art manufacturing facilities.
UNI |
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New Siena models in city Chandigarh, May 18 Mr Sandeep Bhardwaj, General Manager (after-sales), Fiat India, while addressing a press conference, said: “The new Fiat Siena is all set to redefine the dynamics of the C-segment of the Indian automobile market”. The car had been redesigned by noted designer Giorgio Giugiaro, he said. While three models-ELX (1.6 litre; Rs 6,22,000 ex-showroom, Chandigarh), EL (1.6 litre; Rs 5,70,000 ex-showroom, Chandigarh) and EX (1.2 litre; Rs 4,95,010 ex-showroom, Chandigarh) will be available initially, the fourth variant-Maestro (1.6 litres Rs 6,77,000 ex-showroom Chandigarh) will be introduced shortly. The range of colours in which Siena will be available include silver frost, royal gold, ecstacy purple, peacock blue, thunder black and hazel grey. “Adhering to the international standards, the new Fiat Siena has an Economic Council of Europe standard crash-tested cabin that crumples in a controlled manner on collision and a fire prevention system that cuts off the fuel supply to prevent fire during an accident”, said Mr Bhardwaj. Other features include a sleek bonnet that flows smoothly into a single-chrome slat, slender lamps and stylish alloy-centred wheels. He said Fiat was planning to increase the number of its dealerships shortly from the existing 62 to 75 by the year-end. “The company already has 100 service points across the county and will increase these to 150 by the end of this year,” he said. On the plans regarding sales, Mr Bhardwaj said Fiat achieved an 85 per cent level of localisation in March this year and planned to sell 50,000 cars in 2002. He said the company was manufacturing 220 cars a day on a two-shift basis at its Kurla plant, which has a capacity of manufacturing 60,000 cars annually. |
rc
Malaysia plans more flights from India MALAYSIA
is yet another country which has realised the importance of aviation and tourism. Aware that financial gains and image are easily attainable through tourism, the Malaysian Government has taken effective measures to increase tourist traffic. There is unprecedented demand from Indians to visit Malaysia. Apart from several exotic locations, the lodging and boarding facilities are immense and also at reasonable rates. No wonder there is heavy demand for visa for Malaysia. According to Malaysian High Commission, it receives requests for about 1500 visas a day. In view of it, the Malaysian Government has been endeavouring to operate more flights than 18 flights every week out of India. As against Indian tourist traffic of 45,000 in 2000, there was a traffic of 1.45 lakh to Malaysia last year. In 2002, the Malaysian authorities are hoping for the traffic of more than 2 lakh. No wonder, Malaysian Airlines is seeking permission for more flights ex-India. Judging from enormous traffic between Malaysia and Chennai, the Malaysian authorities are interested in Chennai Airport. The experts have already undertaken survey and after examining infrastructure at Chennai Airport, Malaysia may opt for Chennai Airport on lease contract. For leasing Indian airports, there were roadshows in Delhi and London. Ministry officials claim that the shows were a grand success. Following these shows, the Indian Government has appointed global advisers. Malaysian Tourist Minister Ling Liong Sik, reportedly, had a fruitful meeting with the Civil Aviation Minister Shahnawaz
Hussain. Route rationalisation If proposal of route rationalisation of two national carriers — Air-India and Indian Airlines — becomes a reality, the two carriers will be able to offset sizeable losses. For the first time, the ministry appears to be serious to club routes of the two airlines so that there is no duplicity, wastage of manpower and unnecessary utilisation of aircraft. The trouble in the two national carriers has persisted because they are trying to be rival to each other instead of supplementing to each other. If the route rationalisation comes about, it will be possible for Air-India to start operations to the west coast of the United States. For Air-India, there are several slots lying vacant. Virgin Airlines wants to start a third flight between India and London. Air-India is, however, wary of allowing Virgin to start operating another flight. If Virgin is denied permission to operate third flight, it may sever its bilateral agreement with Air India. Richard Brandson is one who will translate his threats into reality. Virgin currently operates twice a week direct flights between Delhi and London. Lying unutilised The space allotted for courier service has not been made use of effectively as there is little understanding between the Airports Authority of India (AAI) and the agency controlling courier parcels. As a result of inefficient functioning, the Indira Gandhi International Airport (IGIA) wears a shabby look and also causes inconvenience to passengers and airline officials. The AAI has suffered heavy losses for un-utilisation of this precious space at the IGIA. On a recent visit at the IGIA, the Civil Aviation Minister was visibly shocked at the condition of the concourses for passengers. The space has been lying unused since 1998. The AAI was an explanation for its casualness. |
cr
Regular Appointment Q: Whether rejection of application by the Service Selection Board regarding his qualification sustainable? Ans: This question was considered by S.C. in Rajpal v State of Maharashtra (2002-I-LLJ 1096). The appellant was appointed as a canal patwari in 1995 and thereafter sought for regular appointment by applying to the Service Selection Board. That application was rejected. He filed a writ petition before the H.C. challenging the action by the Board. It was disclosed that the appellant had passed Matriculation examination conducted by the Varanaseya Sanskrit Vishwavid-yalaya in the year 1989. It was found later on, that the said Vishwavidyalaya is not a University established by law in India nor it has been declared to be ‘deemed University’ U/s. 3 of the University Grants Commission Act, 1976 and he has been found to possess certain qualifications which could not be taken note of and, therefore, the action of the Board was upheld by the H.C. in considering his case. Hence this appeal before the S.C. It is brought to the notice of the S.C. that the appellant had passed 10+2 exam. held by the Haryana Education Board, which qualification is not suspected or doubtful. When the appellant possess higher qualification from an appropriate Board, the S.C. did not think it fit for necessary for the H.C. to examine other aspects of the matter. In that view of the matter, the H.C. should have allowed the writ petition rather than to dismiss it, in the opinion of the S.C. The respondent relied upon the decision of this Court in H.S.E.B. v Rajinder Kumar (C.A. No. 6870/1999) wherein it was noticed by this Court that it is permissible for the Govt. when it came to know that the institution from which the appellant had passed was not recognised by the University Grants Commission, to take appropriate action in the matter. On the other hand, the appellant drew the attention of the S.C. to the decision of this Court in Suresh Pal v State of Haryana (AIR 1987 SC 2027) to the effect that it would be unjust to tell the students that at the time of joining the course it was recognised and they cannot be refused the benefit of such recognition thereafter. It is unnecessary to examine these questions in the view S.C. have taken, said the S.C. In the circumstances, the S.C. set aside the order made by the H.C. and allowed the writ petition filed by the appellant. However, it would be appropriate for the Service Selection Board to examine the case of the appellant on the date he had filed the application which was the subject matter of the writ petition and decide the matter by making an appropriate recommendation to the Govt. The appeal was allowed on those terms. |
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Replace IT with living tax THE
recent rollback by the Finance Minister in Finance Bill is nothing but a mere eyewash. Rebate at 15 pc of savings and increasing the saving limit is impractical. How can a salaried person save Rs 1 lakh just for the sake of Rs 15,000 as rebate with severe taxation which the minister has
levied to a common man. Moreover there is hardly any will shown by him to increase the tax base. This is shameful that in this nation of 104 crore population only 2 crore people pay tax. And out of these majority of the tax payers are salaried persons those who cannot conceal their income. This is a irony of truth that nobody in this nation bereft of nationalism wants to pay the tax and does not feel proud by being a tax payer. Now in such a condition it becomes the duty of the government to either increase the tax base or change the taxation system. Surprisingly the government seems unwilling to do the both. Due to faulty taxation system full of lacunae revenue collection is very poor. Simple example of tax evasion is that every year about 70,000 luxury cars costing over Rs 7 lakh are sold where as only 75,000 people have declared income more than 10 lakh. Is the government and tax authorities unaware of such facts? Therefore, this is high time that the government should abolish income tax and start with living tax or expenditure tax. DR.K.K.SHARMA Defective notes One 100 rupee notes bundle issued by bank carried 4 defective notes (3 in 2 pieces and one 80 per cent torn), thereby causing loss of Rs 200 as per RBI norms. The customer may be at fault for not having checked before leaving the counter as per bank instructions. But the matter does not end here. How such defective notes sneaked into the bundle even after doubly checks, thus attracting action against intentional carelessness of bank employees. Modus operandi is to keep new notes on the outer sides of he bundle to win the customer’s confidence, but in fact it is deceiving him. The another bundle issued by another bank carried 2 half burnt 100 rupee notes. The notes with tapes is a common practice. The incidents are sufficient to shake the banking confidence. The system should have been improved and mere printed wrapper containing instructions does not absolve the banker from its responsibility. Let the Government issue suitable instructions on the subject. BABU RAM DHIMAN Maruti share Now, the Government has fixed Maruti share price to be sold to Suzuki at Rs 3,500 per share. Just about three years back, the then Industries Minister, Mr Murasoli Maran has sold Maruti shares to Suzuki at a mere Rs 150 per share. Does this not call for a CBI investigation as to why just three years back, shares were virtually given away free. Surely Maruti performance has not changed so much in three years where share price should be 20 times? Maruti is an old economy stock which does not change appreciably over the years. Should we see this as a massive loss to the Government or as a massive profit to Suzuki and others. Someone may want to raise this issue in Parliament. MAHESH CHANDRA UTI scheme I had invested a sum of Rs 12500 units in UTI’s scheme GMIS 1991 and was issued a unit certificate No 9124127067 for 1250 units of Rs 10/- each. The scheme was of five years duration and upon its completion the investor were to be paid twice the amount of their respective investment in the year 1996. Although the scheme was matured in 1996, no such amount had been received by me till date. SATISH KUMAR |
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Oriental Bank net zooms 58 pc New Delhi The operating (gross) profit has gone up from Rs 534 crore last year to Rs 917 crore as on March 31, 2002, thereby registering an increase of 71.7 per cent. Addressing a press conference here, Chairman and Managing Director of the bank B.D. Narang said the profit and loss account as on March 31, 2002, was adopted by the Board of Directors here. Mr Narang said the total business of OBC had gone up to Rs 42,646 crore in 2001-02 (as compared to Rs 35,935 crore in the previous year), showing a growth of 18.67 per cent. The deposits of the bank are up from Rs 24,680 crore last year to Rs 28,488 crore average cost
of deposit has come down from 8.4 per cent last year to 7.7 per cent for 2001-02. The gross advances of the Bank have risen from Rs 11, 255 crore to Rs 14,486 crore, registering a growth of 28.7 per cent with a yield of 11.6 per
cent. TNS
Forex reserve crosses $ 55 b Mumbai In rupee term, total forex reserve appreciated by Rs 452 to Rs 2,72,876 crore. According to the RBI weekly statistical report, the entire growth in forex reserve was contributed by foreign currency assets (FCAs) as gold reserve and special drawing rights (SDRs) remained unchanged during the week. FCA moved up by $ 92 million (Rs 452 crore) to $ 52,569 million (Rs 2,57,483 crore) while gold reserves and SDRs remained unchanged at $ 3,131 million (Rs 15,333 crore) and $ 12 million (Rs 60 crore), respectively.
UNI
ACC allots shares under ESOP Mumbai Consequently, the paid-up share capital of the company has risen from 1,70,800,485 shares as on April 23, 2002 to 1,70,811,885 shares of Rs 10 each as of date, the company informed the Bombay Stock Exchange today.
UNI
Abbott Lab net down 62.35 pc Mumbai The total sales for the period under review also decreased to Rs 90.18 crore from Rs 97.03 crore in 2000-01, the company informed the Bombay Stock Exchange today.
PTI |
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Insurance firm Bharat Forge Allahabad Bank Rashtriya Chem HDFC Fund Spice roadshow Reliance Cap MF |
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