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Sunday,
January 12, 2003, Chandigarh, India  
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Microsoft settles lawsuits
It’s Punjab, Haryana turn to woo NRIs
Ford Ikon Nxt to cost 5.63 lakh
In the wonderland of investment |
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Jagson set to spread wings
Forex reserves near $ 71 bn
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Microsoft settles lawsuits Seattle, January 11 The settlement will be paid out to up to 13 million eligible California businesses and consumers in the form of vouchers to buy computers and software, including products made by Microsoft rivals, a lawyer for the plaintiffs said. The California lawsuits were the largest of their kind pending against Microsoft, although the world’s No. 1 software company, which admitted no wrongdoing under the settlement, still faces claims it overcharged consumers in other states. The settlement came on the same day that a federal judge in Baltimore refused to dismiss anti-trust charges brought against the company by competitor Sun Microsystems Inc. and two small software companies. “We believe that this agreement makes a significant step forward to resolve our anti-trust legal issues,” Microsoft General Counsel Brad Smith told a conference call. The final approval of the California settlement is still pending and subject to approval by a San Francisco court later this month. California consumers and businesses who purchased Microsoft’s Windows operating systems, or Excel or Word programs between February 18, 1995, and December 15, 2001, will be eligible to receive the vouchers under the settlement. The amount of the rebate will be set per software licence. Businesses, which often buy Microsoft software licences for many employees, could get a substantial voucher payment, said Daniel Furniss, a partner at San Franciso-based Townsend Townsend and Crew and co-lead counsel in the case. “Businesses are going to have big claims,” Furniss said. For example, computer users will receive a voucher for $26 for each copy of Excel purchased during the period in question. The voucher will be set at $16 per copy of Microsoft’s flagship operating system software and at $5 per copy of its word-processing program Word or the now-discontinued program Works, Furniss said. Microsoft will also pay for plaintiff’s legal fees, to be determined by the court and for administration of the voucher program. The Redmond, Washington-based company, has agreed to mail and e-mail notifications to all California computers users in its database, publish newspaper ads to publicise the voucher program and set up a website to allow users to get claim forms, Furniss said. Two-thirds of any unclaimed settlement proceeds up to $1.1 billion will be donated to California’s neediest public schools to be used for computer equipment and related services in a program to be administered by the state.
Reuters
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It’s Punjab, Haryana turn to woo NRIs New Delhi, January 11 Punjab admires the contribution of NRIs towards the industrial development in the state, the Minister of Industries and Commerce, Punjab, Mr Avtar Henry, said addressing the NRIs gathering at the Pravasi Bhartiya Divas here today. The new industrial policy of Punjab, which is under finalisation, will focus on providing a congenial environment to the entrepreneurs by simplification of procedures, eliminating the “inspector raj” and bringing transparency in decision making. Haryana Chief Minister Om Prakash Chautala said the state is committed towards providing the best of facilities for industrialists. He asked NRIs to visit the state and witness the facilities for themselves. Exhorting the NRIs to invest liberally in Rajasthan, Rajasthan Chief Minister Ashok Gehlot said, “I want to associate all of you to the main stream of all-round development of the state more closely”. His government had started a process of reviving bonds with non-resident Rajasthanis.
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Ford Ikon Nxt to cost 5.63 lakh Chandigarh, January 11 Ford showcased its next generation “Josh Machine”- The Ford Ikon Nxt. Encapsulating both performance and styling enhancements, the Ford Ikon Nxt variants have new exterior styling cues, interior refinements and contemporary looks. Revealing the Ford Ikon Nxt, Mr Randy Shockley, Vice-President, Ford India, said the car has 149 changes over the Ikon and an all new engine. The Ford Ikon Nxt in the Clxi version or the base version is priced at Rs 5.63 lakh in Chandigarh and Rs 5.57 lakh in Ludhiana. Its next model is the 1.6 litre engine which is priced at Rs 6.63 lakh in Chandigarh and Rs 6.57 lakh in Ludhiana. The diesel version is priced at Rs 7.27
lakh in Chandigarh and Rs 7.20 lakh in Ludhiana.
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In the wonderland of investment Q: I bought a second house very recently. I took a bank loan for both houses. The first house was bought by me last year. I heard that the tax exemption will be given only for one house. Is this true? If the interest paid by me in a given year is less than 1.5 lakh will I get exemption from both loans? Durga Prasad A: Since you own two houses, one will be treated as self-occupied and the other will be treated as let out even if none of these are let out. The annual value of the one treated as self occupied will be considered as NIL. The interest payable against the loan taken for this house can be set off against the annual value subject to certain limits. The interest payable for the loan taken for the house let out or deemed let out can be adjusted against the annual value in full. If the income from house property is negative it may be adjusted against any head of your other income. If both your houses are let out the annual value of each will be calculated as per the act and entire interest payable on the relevant loans can be set off against the income from house property. There is no restriction on the number of houses one can own and claim the set off of interest payable on the loans taken for housing property. Q: Over the decades, GPF has served as one saving an employee could most rely upon. On February 14, 2001, it was reported that the government was thinking to impose 30 per cent income-tax on GPF withdrawals by the employees. Though better sense prevailed and the idea was shelved but it very well gave the signal of what was going on in the minds of our “finance-wizards” sitting at the top. However, the Finance Ministry is revising the interest rates for GPF and PPF every year at its will. A reduced rate of interest is not at all admissible for the amounts deposited in PPF or GPF in the previous years. For example, for the NSCs bought in 1999, when the average interest rate was say 11 per cent, we are still getting the same interest now even though the present interest rate is much lesser. But in case of PPF/GPF, the amount that was deposited in 1999 is also getting the present reduced rate of interest. Isn’t it legally invalid? The investments made in previous years in GPF/PPF should continue to get same rates of interest that were applicable at the time of those deposits while the new deposit should earn the newly announced rate of interest. This needs to be looked into by the Finance Ministry. What is your opinion? Sushma Goyal, Chandigarh. A: I have shouted myself hoarse on this issue. Someone will have to file PIL
petition against this reduction of interest on the earlier deposits. I cannot do this because of lack of funds, time and energy. Not even the Opposition seem to be interested in this. There are no good samaritans/godfathers for small investors. I have been clamoring for the same for past 3 years now but there are no takers. People are more interested in crying for the blood of UTI or Salman Khan than taking up cudgels for the small investors.
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Jagson set to spread wings Malaysia’s progress in the world of aviation during last decade has been phenomenon. The Kuala Lumpur International Airport is now one of the best in world. It is almost on par with Singapore airport in regard to facilitations for incoming and outgoing passengers and also for visitors. Malaysian Airlines and Tourism Malaysia have jointly initiated ‘Showcase Malaysia 2003’. Already launched from January 5, 2003, the special package provides free stay for four days and three nights in Malaysia for two people (twin sharing basis) who purchase Malaysian airlines tickets. The offer stands valid until May 29, 2003. Passengers availing of ‘Showcase Malaysia’ will be offered several other facilities and concession to make their trip highly enjoyable and successful.
Jagson Airline Blessed with licence from the Civil Aviation Ministry, Jagson Airline will soon start operating scheduled flights on domestic sectors. Presently, it operates three small Dornier aircraft. But with the licence, it plans to operate medium-sized aircraft on many routes. Chairman of Jagson Airline Jagdish Gupta has gone on record as saying that he will invest about Rs 10 crore on fleet expansion and fly on many routes which are not being served effectively by three other operators.
Mishap at IGIA As if fog has not played enough havoc at the Indira Gandhi International Airport, there was a mishap near the domestic terminal. Two alliance Air technicians were hit by the Sahara Airline coach (SAL PC-003), which was negotiating a bend. The technicians were busy doing their routine work when they were hit by the coach near Parking Bay 3. One of the two sustained serious injuries.
Providential escape There was a providential escape near Bombay airport as two aircraft, Royal Jordanian plane and British Airways plane, came very close to each other for mid-air collision. Only one minute separated them. According to aviation officials, this was one of the closest air misses reported in Indian skies.
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by Praful R. Desai Deemed vacancy Q: Can simply a bald agreement between landlord and tenant regarding tenancy bind authorities under U.P. Rent Control Act? Ans: Allahabad H.C. in Sankatha Prasad v Add. Dis. Mag. (Supply), Varanasi [2002(2)-RCJ 231], held thus: The proceedings were initiated after the Rent Control Inspector submitted its report on 27-10-98. On the basis of this report, Rent Control Eviction Officer has issued notices to all concerned, including the petitioner. After considering the case set up by all the parties, came to the conclusion that the petitioner is occupying the aforesaid accommodation, which is covered with the provisions of U.P. Act, without any allotment order and therefore, the vacancy has been declared and the parties were to remains present, for next hearing, the next day. Petitioner, in this writ petition, raised a preliminary objection that since the petitioner is getting the accommodation under an agreement from the landlords and is living with their consent in the said accommodation since before July, 96, he cannot be termed as an unauthorised occupant. He has also relied upon an injunction order passed by the Civil Court that petitioner cannot be evicted except in accordance with law. The contesting respondents-landlords in reply to the aforesaid objection submitted that the petitioner is living with the consent of the landlords under an agreement. He relies upon a F.B. decision of this Court Nutan Kumar V Add. Dist. Judge, Banda (AIR 1994 Art 298) wherein the F.B. has held that with regard to the premises, which is regulated and governed with the provision of U.P. Act. an agreement entered into between landlord and tenant is simply a balled agreement. The view taken by the Rent Control and Eviction Officer declaring the vacancy does not warrant any interference by this Court under Art 226 of the Constitution. Accordingly, the H.C. held that the present has no merit and is otherwise covered by the findings of fact, does not warrant any interference by this Court. That way, the present writ was dismissed.
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Bharti Tele UTI distribution ATM at KU Canara rates J&K Bank notices Gold looks up Telco sales up |
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