INDIA BUSINESS WORLD - MARCH - APRIL 2007
The Month that was ...

News & important developments from the most prospective of the New World markets..... India. Our effort is to provide you with the latest and relevant developments that take place in the Indian business, economic and legal environment.

ECONOMIC & LEGAL NEWS

STATES WANT SARVA SHIKSHA TO BE CENTRE'S ABHIYAN: Fearing that lack of funding will derail the gains in elementary education, states have opposed the new funding pattern for the Sarva Shiksha Abhiyan (SSA). More...

ARCELOR MITTAL NOT TAKING OVER POSCO: South Korean media reports about the world's largest steel maker Arcelor Mittal eyeing a hostile takeover bid for Posco, the third largest steel company in the world, have been denied by both companies. More...

CHARGESHEET FILED BY CBI IN KAVITA RANI CASE: THE Central Bureau of Investigation (CBI) on Friday filed a charge sheet in the Kavita Rani murder case, which had caused a political storm in UP and led to the resignation of two ministers in the Mulayam Singh government. More...

BENCH SEEKS GUJARAT'S OPINION ON FRESH PROBE INTO '02 RIOTS: THE Supreme Court on sought responses of the Gujarat government and others on a plea that major incidents of communal violence that broke out in the state in February/March 2002 should be probed by an independent investigating agency. More...

LALU TO FLAG OFF CHEAPER E-TICKETING CHARGES: RAILWAY minister Lalu Prasad Yadav is set to offer yet another sop to railway passengers. More...

SC DISMISSES 4G INFORMATICS' PLEA AGAINST LAB CELL: The Supreme Court has dismissed UK-based biometric solutions provider 4G Informatics' plea seeking quashing of a contract awarded by Andhra Pradesh government to Lab Cell Biometric Technologies for deploying a system to check fraudulent ration cards. More...

TEXTILE COMMITTEE CESS TO BE WRAPPED UP: THERE'S good news for the textile industry. The government is likely to scrap the textile committee cess. More...

GOVT TO CORRECT WRONGS IN EDUCATION RIGHTS BILL: FIVE years later, and the fundamental right to education is yet to be notified, because the enabling—Right to Education—legislation is not ready. More...

GALLOWS FOR PETROL PUMP OWNER IN MANJUNATH MURDER CASE: AGHAST over how an unarmed man was put to death without provocation, a district court on Monday sent to gallows a petrol pump owner for murdering Indian Oil executive Manjunath More...

SC TO EXAMINE NON-EXCLUSION OF OBC CREAMY LAYER IN TAMIL NADU: THE Supreme Court on Monday said that it will examine the issue of non-exclusion of creamy layer within the backward classes from the benefit of reservation in government jobs and educational institutions in Tamil Nadu. More...

LAW TO RECOVER DISCOUNT FROM DRUGS COS SOON: PHARMACEUTICAL companies will soon have to think twice before doling out princely discounts to chemists. More...

NOVARTIS SHIFTING CASE FOCUS IN ITS CHALLENGE TO INDIAN PATENT LAW: LAWYERS representing domestic drug makers said on Monday that Novartis is shifting the focus on its challenge to the Indian patent law from a substantive provision to its explanation. More...

US STRIVES FOR IMMIGRATION REFORMS: IMMIGRATION reform is once again at the centre stage on the Hill. A Bill introduced in the US House of Representatives by Democrat Luis V Gutierrez and Republican More...

INDIA TO JOIN GLOBAL FIGHT AGAINST MONEY LAUNDERING: INDIA will share information on money laundering with other countries such as the US, the UK, Canada and Australia. More...

GOVERNMENT UNLIKELY TO ALLOW MASHELKAR RE-VISIT ITS REPORT: THE government is unlikely to give the Technical Expert Group on patent law — headed by former CSIR DG RA Mashelkar — more time to re-visit its report. More...

INDIA GETS READY TO REDUCE IMPORT DUTY ON LIQUOR: REFUSING to give India more time to reduce its import duties on wines and spirits to WTO committed level, the European Union has asked WTO to rule on the legality of the high duties. More...

DEMOCRATS DEMAND US ADHERE TO WTO OBLIGATIONS ON TRIPS: THE Doha Declaration on Trips and Public Health Agreement has become contentious with Swiss pharma major Novartis challenging the Indian Patents Act More...

COURT STAYS QUOTA IN CENTRALLY-FUNDED EDUCATIONAL INSTITUTIONS: IN A decisive intervention, the Supreme Court on Thursday stayed the 27% reservation for other backward castes (OBCs) in centrally-funded educational institutions. More...

GOVT TO LIFT FREEZE ON SEZ CLEARANCES: THE Congress leadership on Thursday gave its nod for lifting the freeze on SEZ clearances. More...

PATENTED PILLS LIKELY TO TURN CHEAPER FOR INDIA: PRICES of medicines that would get patent protection in India in due course would be sold cheaper than their lowest international prices. More...

J & K, GUN MAKER SERVED SC NOTICE: THE Supreme Court on Monday issued notices to the Jammu and Kashmir government and a private gun manufacturer on a central plea that an increase in manufacture More...

SUPREME COURT UPHOLDS BAN ON NEW SUGAR MILLS NEAR OLD ONES: THE Supreme Court has upheld the ban on setting new sugar factories within 15 km of an existing mill if effective steps for the functioning of the sugar factory are taken by the owner within the stipulated time period. More...

SC HAS POWER TO ORDER CBI PROBE: THE centre on Wednesday backed the judicial order of CBI inquiry even without the consent of the states. More...

BROADCASTERS CAN'T GIVE MSO EXCLUSIVE RIGHTS, SAYS APEX COURT: The Supreme Court has ruled that broadcasters cannot appoint agents who are part of the network or competitors to others who receive signals. More...

GOVT TO GIVE PATENT PROTECTION TO FOLK CULTURE: AFTER starting a dialogue with patent offices in the US, Japan and Europe for protecting India's centuries-old knowledge in medicine, the government has now turned its attention to protecting elements of folk culture that has immense commercial value. More...

AIRLINES GET RELIEF FROM DELAY PENALTY: THE National Consumer Disputes Redressal Commission has stayed the order passed by the redressal commission in Delhi directing all airlines operating More...

SIX IMPORTANT BILLS PASSED WITHOUT DEBATE IN HOUSE: THE stand-off between the UPA-Left combine and the NDA over the Nandigram killings had its fallout on legislative business in the two houses of parliament, with as many as six crucial bills being passed in the melee, without any discussion. More...

HEFTY FINE IF MEGA MERGERS DO NOT NOTIFY CCI: IT WOULD soon become mandatory for corporates to notify the Competition Commission of India (CCI) about the mega mergers they go for, or they will be slapped with a hefty penalty. More...

GOVERNMENT TO ALLOW CONVERSION OF SECTOR-SPECIFIC SEZS: RECOGNISING the problems faced by developers in acquiring huge tracts of land for multi-product SEZs, the government has decided to allow conversion of sector-specific SEZs, requiring less land, into multi-product ones once the mandated quantum of land is acquired. More...

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