The Tribune, Chandigarh, India

	Gas Row Invoking govt is RIL’s mischief: RNRL to SC New Delhi, September 9 Anil Ambani group firm RNRL today told the Supreme Court that the government's approval was not required for sale of gas by RIL to it and alleged that the Mukesh Ambani-led company had "wrongfully and mischievously" sought to pass this off as a condition. "The allegation that government approval is a condition precedent to sale of gas by RIL to either (power PSU) NTPC or to RNRL is completely wrong and incorrect," RNRL said in its affidavit, replying to RIL's petition in the Supreme Court. It questioned RIL's argument that government's approval was required for price fixation, saying that even the empowered Group of Ministers had decided that any policy on the subject would be without prejudice to the RIL-RNRL case. RNRL has never questioned the ownership of the government on gas, but RIL has complete market freedom to deal with gas that belongs to it, the affidavit said. "The Anil Ambani group is of course entitled to claim damages for the loss and damage caused to RNRL on account of continuing breach and violations committed by RIL, in addition to directions to RIL for supply of gas," it said. The two sides approached Supreme Court against the Bombay High Court's June 15 ruling that asked RIL to provide 28 mmscmd of gas to RNRL at USD 2.34 per mmBtu. RIL's plea is that as a contractor, it does not have power to fix price. The government has moved a petition in the case asserting its right on pricing and distribution of gas and the apex court has decided to commence hearing all these matters on October 20. RNRL told the Supreme Court that RIL had itself conceded and stated before the courts that it would make profits even at a price of $2.34 per mmBtu and the Director General of Hydrocarbons has also said so. "The Director General of Hydrocarbons has made a public announcement on August 5 that the cost of production of natural gas from KG D6 is $1.28 per mmBtu and RIL will earn a profit of $1.06 per mmBtu plus the marketing and risk management charges of $0.12 per mmBtu," RNRL said. Stating that RIL has been changing its stance with regard to the MoU (family agreement that provides for sale of gas by RIL to RNRL), Reliance Natural Resources detailed RIL's response on different occasions and said "this fully exposes RIL's blatant lie and falsehood." "RIL has complete marketing freedom for sale of gas within India. The marketing freedom would include within its scope the freedom to sell the gas on such terms and at such price that RIL deems fit and proper," RNRL said. Stating that the supply of gas was not subject to gas utilisation policy of the government under the PSC with RIL, RNRL said in its affidavit that "the petitioners (RIL) are seeking to mis-interpret the terms... to suggest that any sale of gas has to be in accordance with the (government) policy." RNRL further said RIL had made a "valid, binding and enforceable commitment in the year 2005 to supply gas on the agreed terms to RNRL" and the said commitment and obligation was not affected in any manner by the gas utilisation policy announced by the government in 2008. — PTI
	Satyam Aftermath Early warning system set up New Delhi, September 9 The government has set up an early warning system (EWS) to detect Satyam-like corporate frauds on a pilot basis by keeping the accounts and activities of 50 identified companies under the scanner. “We have already got (working) with SEBI. We have worked out a model of the EWS. We are already running a pilot project... with 50 companies. We can now say with confidence that the EWS is already in operation,” Corporate Affairs Minister Salman Khurshid said. The experience gained in operating the pilot project to detect corporate frauds would be used in fine-tuning the system and giving it a final shape, Khurshid said, without disclosing the names of the companies that have been put under the scanner. On the effectiveness of the system to prevent a Satyam-like fraud which went on undetected for years, the minister said, “Essentially I put it like a lipid profile test to tell if your lipid profile is going wrong so that you step in immediately”. After the multi-crore Satyam fraud, which went on for several years till its founder B Ramalinga Raju disclosed it, the ministry decided to set up a system to pick up early signals of misconduct and take preventive measures. — PTI
	Dubai to build world’s tallest residential tower Dubai, September 9 After a brief lull, Dubai is back to its biggest and tallest ways and once again it is a building that is set to make the statement. As a step in this direction, Trident International Holdings has awarded a $400 million contract to Arabian Construction Company (ACC) to build the world's tallest residential tower the 'Pentominium' in Dubai Marina. According to the developer, the 124-floor Pentominium "whose name is derived from two words: penthouse and condominium" will be one of the world's tallest man-made structures and is projected to be the second-tallest building in the world after Burj Dubai. Each apartment in the 618 metres tower will consist of either half a floor, or an entire floor. The total built-up area will be 170,000 square metres and the construction duration is expected to take 48 months, a company statement released yesterday said. The Pentominium will be the tallest all-residential building in the world upon completion and it currently has the highest projected height of any residential building under construction, according to Aedas, the project designers. Executive Director and CEO of Trident International Holdings, Wazir Daredia, said "Pentominium is a unique project that escalates the concept of luxury living to new heights and with construction major ACC on board, the project has joined an exquisite bouquet of brand partnerships we have forged for the development. — PTI
	Ford to ramp up output; rolls out new Endeavour Tribune News Service New Delhi, September 9 Ford India today joined the re-launch bandwagon as it brought out its refurbished sports utility vehicle (SUV) Endeavour. The new Endeavour will come in two variants and will boast of five speed automatic transmission and airbags on the sides in addition to those in front of the driver and passenger seats. The new Endeavour is priced at Rs 17.99 lakh for 3-litre, 4x4 automatic transmission and Rs 15.99 lakh for the 2.5-litre, 4x2 manual transmission variant. "We expect good response with this launch," Ford India managing director Michael Bonham told reporters here. The new variant has a seven-inch touch-screen satellite navigation system, built-in DVD player, a rear camera and bluetooth communication system on the automatic transmission variant, which also has a USB input. Ford has redesigned the SUV with a multi-bar chrome grille and chrome-accented lower grille combining with sleek, wraparound headlamps. The company, which sold 1,200 units of Endeavour between January and August, claims to have a market share of 28 per cent in the SUV segment. Meanwhile, the company today said it would increase vehicle production in India by over 30 per cent from this month to meet increased demand in the upcoming festival season. "We have been producing about 130 vehicles a day but this will be increased to 174 vehicles a day this month," Boneham said. He said demand has increased for its entry-level sedan Ikon, which was given a facelift last November, mid-sized sedan Fiesta and also for SUV Endeavour. The company has an installed production capacity of 1,00,000 units at its Chennai plant, which will be expanded to 2,00,000 units. Boneham said the company would start exporting both petrol and diesel engines to markets, including the ASEAN countries, once the new plant come up by early 2010.
	India Inc’s hiring outlook improves New Delhi, September 9 Job prospects for professionals and managers have brightened as over half of the companies in the country have begun hiring, a global survey has said. According to a quarterly survey by global recruitment firm Antal International, the percentage of companies in India hiring professionals and managers has rebounded to 51 per cent currently, after a dramatic fall to 29 per cent at the beginning of 2009. “As a result, job prospects for professionals and managers in India are now better than global average,” the survey said. Globally, the current hiring level, too, has improved to 50 per cent now from 46 per cent in April. Hiring outlook for the next three months also looks promising, with as many as 66 per cent Indian companies expecting to recruit. Moreover, the job cuts are expected to drop to 21 per cent over the next quarter. “After a substantial dip in hiring levels at the start of 2009, confidence seems to have returned to the Indian job market in a dramatic fashion. Two-thirds of the businesses we spoke to are already in the process of hiring for the next quarter,” Antal International India managing partner Joseph Devasia said. Globally, the percentage of companies intending to hire in the coming quarter has also risen to 48 per cent from 44 per cent. Besides, the percentage of organisations intending to shed staff across the globe has fallen to 25 per cent now from 35 per cent in the spring. The firm surveyed over 7,000 companies in August this year in major markets such as western and eastern Europe, Africa, India, China and the US whether they were currently hiring at professional and managerial level. — PTI
	Free LPG stoves for BPL families mooted New Delhi, September 9 The government may give poor people LPG stoves free of cost as part of its blueprint to expand domestic cooking gas coverage to at least three-fourth of the population. The Petroleum Ministry was considering a proposal to use the funds state-run oil firms set aside for corporate social responsibility (CSR) activities, an official source said. “Public sector oil companies have been asked to spend at least 2 per cent of their net profit each year on CSR initiatives. A part of these funds is proposed to be use to give free LPG stoves to poor people,” he said. The scheme, he said, was part of Petroleum Minister Murli Deora’s blueprint to release 5.5 crore new LPG connections by 2015, taking the total number of LPG connections from the present 11.5 crore to 16 crore. This would increase current coverage from 50 per cent of population to 75 per cent. “People living below poverty line (BPL) will be given free stoves and subsidised LPG,” he said. As part of the agenda for the first 100 days of the UPA government’s second innings, Deora has already rolled out mobile phone text or SMS booking for LPG refills and toll-free number to make complaints. Deora’s ministry has surpassed the targets set for first 100 days by rolling out a path-breaking Gramin LPG Vitarak Yojana, raising oil and gas output and laying of roadmap for expanding city gas services. The beginning of oil production from the Mangala oil field in Rajasthan and ramping up of output from the Krishna Godavari basin KG-D6 gas field had been the hallmark of the 100 days, an official statement issued said. Peak output of 8.75 million tonnes from the Mangala field will reduce the nation’s oil import bill by about 8 per cent while gas from the KG-D6 will cut fertiliser subsidy and boost power generation. The 8th bid round of the New Exploration Licensing Policy (NELP-VIII) offering 70 blocks covering an area of about 1.64 lakh sq km and the fourth bid round of Coal-Bed Methane (CBM -IV) offering 10 blocks covering an area of about 5,000 sq km were launched with a view to intensify exploration, it said. — PTI
	Wipro scouts for buyouts Bangalore, September 9 Wipro is scouting for acquisitions of technology companies which have new business models and is evaluating a few candidates for large buyouts, a key company official said. "We continue to be active in acquisitions," the Bangalore-based company's Chief Financial Officer Suresh Senapaty told PTI here. "We are looking at acquisitions which can fill in some of the gaps that we have in our practices, our verticals and our geographies and/or in terms of technologies which are going to be technologies of Horizon 2 and Horizon 3 which means which will be some of value to us... new models of business after two-five years," he said. — PTI
	15 power firms keen on Rajpura project Tribune News Service Chandigarh, September 9 As many as 15 firms have shown interest in the 1,320 MW Rajpura thermal plant project after an appeal by its earlier lone bidder Lanco calling for acceptance of its negotiated bid by the Punjab State Electricity Board (PSEB) was rejected by the Appellate Tribunal for Electricity. The vehicle formed by the PSEB for this purpose - Nabha Power Limited, had earlier extended the time period of the bid after Lanco approached the Appellate Tribunal protesting the decision to go in for a rebid. Earlier the Punjab government had gone in for negotiations with Lanco and approached the Punjab State Electricity Regulatory Commission (PSERC) to accept a new bid negotiated with Lanco. However, the commission asked the board to go in for a rebid. At a proposal bidder’s conference held here today as many as 15 firms, including Adani Power, Lanco Infratech, Reliance Energy, Welspun Urja India, DS Construction, NTPC, Dalmia Cement, Essar Power, Larsen and Toubro, Gammon India, JSW Energy, OPG Power, India Bulls, AMTech Group, e-Gateway India, participated. Nabha Power officials, while answering queries of the representatives of the firms, said the plant is to be built on build, own and operate basis through tariff-based competitive bidding process as per the guidelines of the Power Ministry. About 1,078 acres of land required for the plant has already been acquired and the Union government had approved long-term coal linkage. The last date of bidding for the project is October 9.