‘7’

AMENDMENT IN NOMINATION FORMS FOR INVESTORS

    The Government (Department of Company Affairs) has issued a Notification amending Form 2B of nomination form in the Companies (Central Government’s) General Rules and Forms, 1956. The amending Notification has been issued under Clauses (a) and (b) of Sub-Section (1) of Section 642 read with Sub-Section (11) of Section 58 A and Section 109 A of the Companies Act, 1956.

    Under the amendment, the nomination can be made by individuals only applying or holding shares or debentures on their own behalf singly or jointly. Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of power of attorney cannot nominate. If the shares are held jointly, all joint holders will sign the nomination form. In the amended form, space has been provided as a specimen, if there are more joint holders, more sheets can be added for signatures of holders of shares or debentures and witness.

    A minor can be nominated by a holder of shares or debentures or deposits and in that event the name and address of the Guardian shall be given by the holder.

    The nominee shall not be a trust, society, body corporate, partnership firm, Karta of Hindu Undivided Family or a power of attorney holder. A non-resident Indian can be a nominee on repatriable basis.

    Nomination will stand rescinded upon transfer of share or debenture or repayment or renewal of deposits made.

    Transfer of share or debenture in favour of a nominee and repayment of amount of deposits to nominee shall be a valid discharge by a company against the legal heir.

    The intimation regarding Nomination or Nomination Form shall be filed in duplicate with Company or Registrar and Share Transfer Agents of the Company who will return one copy thereof to the share or debenture or deposits holder.

    This is the fourth amendment effected in the year 2000 and 77th since 1956 when the Companies Act was enacted and enforced.

    All the amendments effected in the Companies (Central Government’s) General Rules and Forms, 1956, so far , have been intended to safeguard the interests of shareholders, debenture holders and depositors.

 

 

'28'

CEA APPROVES MULTIPURPOSE HYDRO POWER PROJECT IN MIZORAM

    The Central Electricity Authority (CEA) has accorded techno-economic clearance to the 2 x 40-Megawatt Bairabi Dam hydroelectric project in the state of Mizoram. The project is to be located on the Bairabi River, which is the lifeline of Mizoram. A 62-metre high and 180 metre long earth fill dam would be built to generate 210 million units of electricity every year. The construction of the dam would raise the upstream water level making the river navigable through-out the year and it will provide a 180 kilometre waterway for transportation of goods from the capital of Mizoram, Aizwal to Silchar. The waterway will not only decongest roads but also provide cheaper means of transport.

    The project is likely to be developed in 7 years time and is estimated to cost Rs. 522.60 crore. It would be financed through 100% central assistance and cost of generation would be Rs. 2.21 crore during the first year, which would gradually go down. Power generated at this project is proposed to be evacuated to the District headquarters of Kolosib through a 132 kV single circuit transmission lines and another 132 kV double circuit transmission lines would be provided to evacuate power to Aizwal.

    The proposed reservoir would submerge 6 villages with a total population of 6,500. The submergence area comprises of notified revenue, private forestland, WRC land and jhoom land. However, the cost of rehabilitation and afforestation has been taken into account in the project cost estimates.

 

 

'43'

PRESIDENT CALLS FOR BETTER LAND CARE

    The President Shri K.R. Narayana has called for better land care for sustainable development. Inaugurating the five day conference on "Land Resource Management for Food, Employment and Environmental Security" here today, he expressed concern at the depletion of land resources. The per capita availability of land has declined from 0.48 hectares in 1952 to 0.15 hectares in 2000 due to population increase, he pointed out. The shortage of land is compounded by increase of waste land which is estimated to be 63.8 million hectares. We are also loosing 15 million hectares of land due to spread of urbanisation and the demand for more land for housing, industries and communication. How can we, in such a situation, provide 0.5 hectares of arable land per capita which is the minimum required for ensuring food and other essential needs of an individual, he asked?

    The President observed that the green revolution in our country in which late Shri C.Subramaniam and Dr. M.S. Swaminathan played a crucial role, had helped us in securing food self-sufficiency by increasing our annual foodgrain production from 55 million tonnes in 1950 to more than 200 million tonnes in 1999. He pointed out that an interesting aspect of the green revolution was that most of the production took place in a limited land area and hence a lot of land was saved from agricultural operation. We have no option but to produce more from the limited land available to ensure food security, he stressed. While doing so, we may be mindful of the soil health for future generations, Shri Narayanan said. The future of food security lies in conserving prime land for agriculture and restoring the biological potential of degraded lands, he added.

    The President said the Government had taken initiatives to involve people for land re-generation. He complimented the good work done in this area in several parts of the country. Emphasising on the need for effective community-led land care movement, he said that the people should be in the forefront to manage land and water resources and the scientists must provide leadership in the movement.

    The President noted that women were the worst victims of land degradation as they had to bear the increasing burden of ecological problems. The vital role of women in land resource management must be acknowledged. He pointed out that in our panchayats with 33 per cent reservation, one million women had already completed a term of 5 years and played an important role in management of natural resources.

    The President said the green revolution of the 60s and 70s could be converted into an evergreen revolution, if there was a paradigm shift in our research and development strategy leading to a change from a purely commodity-centered approach to an integrated natural resource management strategy. Scientific and agricultural experts will have to join together with the farmers and the common people in a popular movement for protection of the land, he said .

    In his key note address, the well known scientist Dr. M.S. Swaminathan said that the conference would help in focussing attention on development of guidelines, financial support for grass-root level workers and international cooperation for sustainable soil health. While there is global concern for land care, greater political and public support in this critical area is needed. He pointed out that better management of land resources would not only lead to increased yield and income but also help in developing rural micro-enterprises. Emphasising that to be richer we have to be greener, Dr. Swaminathan described land and water as the two life support systems for the humanity.

    Addressing the conference, the Rural Development Minister Shri M. Venkaiah Naidu described the land resource management as a challenging task as it would have to take care of the twin needs of increasing food production and improving land resources. Pointing to the poverty and backwardness in rural areas, he regretted at the urban-rural divide in the country. The system is biased towards organised and urban areas, he said. The time has come to focus attention on rural areas so that the urban-rural divide can be bridged. Calling for optimum utilisation of land resources for alround improvement in rural areas on the basis of holistic land management, Shri Naidu informed the conference that a national policy of land resource management was under preparation. Voluntary organisations have an important role and there is also need for international cooperation. Shri Naidu added that the conference would help in pooling and sharing of experiences in this critical area.

    In his address, the Agriculture Minister Shri Nitish Kumar called for a re-look into the agricultural perspectives keeping in view the challenges before agriculture in the 21st century. These would include increased food requirements and the need for high value agro technology, he said. He informed the conference that in spite of drought like conditions in some parts of the country, the food production last year was nearly 206 million tonnes. However, the prospect of depletion of land resources in decades ahead could not be ignored. He called for according high priority to development of rainfed areas and said that a common approach to watershed development had been established in various Ministries.

    In her address at the conference Dr. Brenda Gael Mcswaneey of UNDP said that the fragile eco-system posed serious implications for the mankind and there was need for sound land and water management. She praised the work of local communities in this area and said that UNDP would continue to lend support in such endeavors. India has demonstrated that it is possible to reverse the trend of land degradation through people-centred efforts, she said.

 

 

‘27’

HIGH PRIORITY ACCORDED TO RAINFED AREAS BASED ON WATERSHED APPROACH

    Union Minister for Agriculture Shri Nitish Kumar while speaking at the inaugural function of the International Conference on Land Resource Management for Food, Employment and Environmental Security said that the strategies for the future imply intensification of agriculture for the foodgrain production to keep pace with population growth , impetus to the process of diversification for greater employment and higher income and competitive world standard of quality , packaging and stability to obtain export opportunity.

    Shri Nitish Kumar emphasised that care would need to be taken to ensure that increases in agricultural output are commensurate with preserving and improving the health and status of the natural resources. Better management and preservation of soil and water, dissemination of technologies based on bio-fertilizers and bio-pesticides to reduce chemical pollution, protection of fragile ecosystems in mountain, coastal and arid areas, and containment of deforestation are the need of the hour. The need for wise stewardship of our natural resources namely land, water and biodiversity becomes one of our foremost imperatives to meet the needs of present and future generations.

    He said that modern agricultural technologies developed and extended over the past three decades have contributed to unprecedented growth in the country' food production. Expressing concern he said that these mainstream technologies might not be sustainable. As per estimates about 175 million hectares, nearly half the country’s land suffers from varying degrees of degradation such as water erosion, wind erosion, ravines, salt affected areas, water logging, shifting cultivation and degraded forests. Out of 142 million hectares of cultivated land irrigated area, about one third of the crop land, contributes 55 per cent of the total foodgrain production. The remaining two third is rainfed region which is about 90 million hectares and contributes only 45 per cent to foodgrain output exhibits low levels of productivity.

    Shri Nitish Kumar said that very high priority has been accorded to the holistic and sustainable development of rainfed areas based on watershed approach. Indeed, the watershed approach represents the principle vehicle for transfer of rainfed agricultural technology. The National agriculture Policy seeks to promote the integrated development of rainfed areas through conservation of rain water and augmentation of biomass production through agro and farm forestry with the active involvement of watershed community. In 1999-2000 for the first time a Watershed Development Fund was established at NABARD with a corpus of Rs. 200 crore for treatment of larger areas under watershed development. The Minister was certain that the valuable and practical recommendations of experts with rich and varied experience participating in this International Conference will be used as input for shaping future strategies.

 

 

'28'

REDUCTION IN TRANSMISSION AND DISTRIBUTION LOSSES ESSENTIAL IN POWER SECTOR

    The Minister for Power, Shri Suresh Prabhu has said there is an urgent need to eliminate Transmission and Distribution (T&D) losses in the power sector. The Minister was speaking while inaugurating TRAFOCON 2000, the National Conference on Distribution Transformers. The theme of the two-day Conference is "Efficiency and Reliability, Challenges for India in the New Millennium".

    Shri Prabhu said the huge T&D losses are simply not acceptable. Shri Prabhu said this is especially so when our neighbour China has been able to reduce T&D losses to 7%. The Minister stressed that means have to be found to remove these losses. Referring to manufacture of sub-standard distribution transformers, the Minister asked the joint organizers of the Conference, the Indian Transformer Manufacturers’ Association (ITMA) to identify those of its members who produce sub-standard distribution transformers. He urged ITMA to become a Self-Regulatory Organisation (SRO) and come forward with the names of such manufacturers and once again stressed the Government’s commitment to lay strict standards for the production of distribution transformers.

    The Power Minister also emphasized that there was a need to provide cheap power to the consumer and new technologies would have to be found so that project costs could be reduced by 25%. The Minister also announced that a portal would soon be launched which would bring in total transparency in the purchase of items required in power projects in which Central assistance was involved.

 

 

'42'

SHRI S.S. DHINDSA ASSUMES CHARGE AS MINISTER OF CHEMICALS & FERTILIZERS

    Shri Sukhdev Singh Dhindsa assumed charge, here today, as the Minister for Chemicals & Fertilizers. Shri Dhindsa was given the charge of the Ministry in the recent reshuffle of the Cabinet. Shri Dhindsa was earlier the Minister for Urban Employment & Poverty Alleviation and before assuming the charge of the Chemicals & Fertilizers Ministry was the Minister for Youth Affairs and Sports and Mines.

    Born on April 09, 1936, Shri Dhindsa has been a Member of the Rajya Sabha since 1998.

 

 

'21'

INCREASE IN NUMBER OF PEOPLE SEEKING EMPLOYMENT

    9.83 lakh candidates registered themselves in Employment Exchanges during July, 2000 while 20 thousand were placed in jobs. The registrations for employment were over two lakhs more as against the previous month which stood at 7.77 lakhs demonstrating an increasing trend. A total number of 412.78 lakh persons are awaiting employment as per Live Register in 955 employment exchanges at the end of July, 2000. The number , however does not necessarily mean that all of them are unemployed Over 2 lakh 21 thousand placements in jobs were made through Employment exchanges during 1999.

   According to projections made by the Planning Commission on the basis of National Sample Survey Organisation’s (NSSO) Labour force survey data, employment and labour force are expected to grow at the same rate, i.e., approximately 2.5 per cent each per annum during the 9th Plan. The Primary object of the 9th Plan is to generate productive employment particularly in regions having high unemployment rate by focusing on sectors and technologies which are labour intensive. Centre is also running special employment programmes for setting up self employment ventures by educated unemployed under the Prime Minister Rozgar Yojna (PMRY) and Swarna Jayanti Shahhari Rozgar Yojna (SJSRY). Centre has released Rs. 755.87 crore under SJSRY during 1997-2000 period, while Rs. 47.44 crore were released under PMRY during the same period.

 

 

‘43’

CONFERENCE ON LAND RESOURCES MANAGEMENT

    Shri M. Venkaiah Naidu, Minister for Rural Development said that a National Policy on the Management of Land Resources is being formulated in consultation with the Food and Agricultural Organisation of the United Nations, and the premier training institutions of the country, seeking inter alia to shift the focus from mere ‘land use’ to ‘Land Resource Management’. Addressing the International Conference on "Land Resource Management for Food, Employment and Environmental Security" here today, Shri Naidu said that it is desirable that the beneficiaries of the watershed development programmes are provided with the basic needs such as rural roads, rural drinking water supply, housing etc., and necessary provision be linked as an integral part of the watershed programme.

    Referring to the problem of wasteland in India, Shri Naidu informed that according to the Wastelands Atlas of India the extent of degraded lands in the country is 63.85 million hectares – about 20% of the entire landmass in the country. Degradation of this valuable resource has become a matter of serious concern. It has been estimated that more than 5,000 million tones of top soil is eroded annually alongwith about 5 million tones of nutrients. Therefore, to improve the soil health and land productivity, to secure food security regime and to enhance the quality of life of the people – especially the resource poor living on the edge - the management of land resources needs to be organized on a holistic basis conducive to securing synergy among all the players.

    Shri Naidu urged upon all the delegated to identify more such areas and assist in fine-tuning existing mechanisms in consultation with the partners present here, for working towards the cause of growth and prosperity of all the developing nations of the world.

    Shri Naidu further said that the proposed Delhi Declaration would become an important milestone in the history of land resource management, to be cherished as a historic contribution at this Conference.

    The Conference is jointly organized by Department of Land Resources, Ministry of Rural Development and Soil Conservation Society of India.

 

 

'31'

POLIO CASES IN U.P. REDUCED TO 109 THIS YEAR FROM 773 LAST YEAR

    Union Minister of Health and Family Welfare, Dr. C.P.Thakur, has informed the media persons here today that polio cases in Uttar Pradesh have come down to 109 this year (upto October). Last year it was 773. This shows the efficacy and credibility of the Oral Polio Vaccine administered in Uttar Pradesh.

    Addressing the press conference, Dr. Thakur has further said that out of 3653 samples of Oral Polio Vaccine tested in eight States and UTs namely, Uttar Pradesh, Tamil Nadu, Pondicherry, Madhya Pradesh, Haryana, Kerala, Gujarat and Delhi, 3418 cases were found satisfactory. Only test results of 235 cases were not satisfactory. In all, 93.57 percent of the samples were found satisfactory.

    National Institute of Virology, Noida has reported that 20 samples out of 48 samples tested there, for the first time, are found unsatisfactory, about which the Ministry of Health and Family Welfare has initiated the investigation.

 

 

'15'

DIRECT TAX COLLECTION UPTO OCTOBER 2000 GROWS BY 40.29%

TOTAL TAX COLLECTION DURING APRIL-OCTOBER UP BY 18.22%

    Total collection of all taxes, including both direct and indirect taxes, during the month of October, 2000 have amounted to Rs.12170.43 crore as compared to Rs.11011.04 crore during October, 1999 registering a growth of 10.53%. On a cumulative basis upto October 2000, total tax collection have amounted to Rs.94709.61 crore, as compared to the total collection of Rs.80114.09 crore upto October, 1999, registering an increase of 18.22%.

    Total collection of direct taxes during October, 2000 is Rs.2803.23 crore, as against Rs.2398.92 crore during the corresponding month of last year, showing a growth of 16.85%. Total collection of direct taxes upto October, 2000 is Rs.29344.00 crore, as against Rs.20917.36 crore upto October, 1999, showing an increase of 40.29%.

    The collection of income tax during the month of October, 2000 is Rs.1955.41 crore as compared to Rs.1439.54 crore during the month of October, 1999, i.e., an increase of 35.84%. Collection of corporation tax during October 2000 is Rs.804.61 crore as compared to collection of Rs.927.10 crore during the month of October, 1999, i.e., a decrease of 13.21%. The collection of income tax upto the end of October, 2000 is Rs.14894.32 crore as compared to Rs.10364.82 crore upto the end of October, 1999 i.e., an increase of 43.70%. Collection of corporation tax upto October, 2000 is Rs.14254.94 crore as compared to collection of Rs.10433.46 crore during the corresponding period last year, registering an increase of 36.63%.

    Total collection of indirect taxes during October, 2000 is Rs.9367.20 crore as compared to Rs.8612.12 crore during the same month last year, representing an increase of 8.77%. Total collection of indirect taxes upto October, 2000 is Rs.65365.61 crore as compared to Rs. 59196.73 crore upto October 1999, registering an increase of 10.42%.

    The collection of excise duties during the month of October, 2000 is Rs.5423.55 crore, as compared to Rs.4663.33 crore collected during October, 1999. Thus, excise collection during October, 2000 is higher by 16.30%. Collection of customs revenue during October, 2000 is Rs. 3707.51 crore, as compared to Rs.3749.48 crore, thereby registering a decrease of 1%. The collection of excise duties upto the end of October, 2000 is Rs.36375.06 crore, as compared to Rs.31635.64 crore collected upto October, 1999, thereby registering an increase of 14.98%. Collection of customs revenue upto October, 2000 is Rs.27039.26 crore, as compared to Rs.25940.56 crore during the corresponding period last year, thereby showing a growth of 4.24%.

 

 

'31'

INDIAN DELEGATION ON HEALTH TO VISIT CHINA- DR. C.P.THAKUR

   Union Minister of Health and Family Welfare, Dr.C.P.Thakur, has indicated that a delegation from India will visit China soon to study the health scenario there including the traditional medicine.

    Addressing the media persons here today, the Minister has said that during his visit to Beijing in connection with the "Sixth Annual Board Meeting of the Partners in Population and Development" held on 3rd November, this month, his counterpart of China has extended an invitation to him to pay an official visit to China. As soon as a formal invitation to this effect is received from China, a delegation from India will make a visit to China to study the health scenario including the traditional medicine. It is believed that traditional medicine of China took its origin from India through Buddhist Monks.

    Many member countries of the WHO were of the view that the prices of the essential drugs should be outside the purview of World Trade Organisation. This view was expressed by them during the Global Health Symposium held in Japan on 1st November.

 

 

‘21’

CENTRE DECLARES SECURITY PAPER MILL, HYDERABAD AS PUBLIC UTILITY SERVICES UNDER THE INDUSTRIAL DISPUTE ACT

    Central Government has declared the services in the Security Paper Mill, Hyderabad as public utility service under the Industrial Disputes Act, 1947 for six months with immediate effect. In a notifications issued here, today, the Labour Ministry said the public interest required that the Paper Mill should be declared as public utility service.

 

 

'33'

BRO BUILDING ROADS IN TERRAIN AREAS

    Border Roads Organisation (BRO) has an allocation of 1,150 crore rupees for the current financial year. The organisation has completed nearly 50 per cent of its target by October this year. The works completed include 362 kms of formation cutting against 730 kms of target, 554 kms of surfacing and 687 kms of resurfacing against, 1612 kms and 2423 kms of its target respectively. The department has completed 486 metres of permanent bridges against its total target of 1500 metres and has also completed permanent works worth Rs.12090 lakhs against the total target Rs. 22440 lakhs. This was disclosed by the Director General Border Roads Organisation, Lt Gen A K Puri to the pressmen here today.

    Gen Puri added that BRO has completed 160 kms of road connecting Tamyu-Kalemup-Kalewa in Northern Burma along the Indian border and will hand over it to the Myanmar authorities shortly ahead of the schedule. The Organisation was engaged in fencing of 1500 kms along the Indo-Bangladesh border, the Director General added. The organisation primarily created 40 years back for connecting the inaccessible corners of the country has now graduated in other high-tech areas like airfield, bridges, major building works and civil engineering support to hydro-electric projects and tunnels. In Bhutan, a 90 metre single span bridge, the longest so far for the organisation was constructed in Eastern Bhutan. The department also exhibited successfully its role on the face of unprecedented flood damages in Arunachal Pradesh, Himachal Pradesh and other areas recently. The road communication was restored speedily despite all odds.

    Lt Gen A K Puri further said that construction of National Highways 150 and 151 in Assam, National Highway 44-A in Tripura and National Highway 202 in Madhya Pradesh, at the same time widening of Pathankot-Srinagar Highway, the life line of Kashmir valley, are some of the prestigious assignments being undertaken by the BRO to be executed next year.

 

 

'24'

PRESS NOTE

REVISION OF RENTAL AND CALL CHARGES FOR FRANCHISED GROUP PBX, PABX AND EPABX

    The Telecom Regulatory Authority of India (TRAI) has decided to revise the rentals and call charges for Franchised Group PBX, PABX and EPABX (for Multi-storeyed buildings, other buildings and Co-operative Housing Societies). The changes are to be made effective from 1st December, 2000.

2. The TRAI noted that Direct Inward Dialling (DID) Franchisees provide a cheaper alternative to the low user group, particularly after the increase in rentals was ordered by the TRAI last year as part of its tariff rebalancing exercise.

3. The tariff for extension users of DID Franchisees was fixed in Telecom
Tariff Order (TTO), 1999, keeping the standard tariff package in view. However, the tariffs for urban low callers (i.e. those making up to 200 metered calls per month) remained unchanged and thus the tariffs for extension users of DID franchisees had become much less attractive than was envisaged in TTO, 1999. The viability of the service had also been adversely affected.

4. The TRAI recalled the emphasis given in TTO, 1999 to DID franchisees as a means of expanding tele-density in the context of enhanced rentals. The TRAI further noted that the extension user of DID has an easier access to a DID Franchisee, than does a corresponding user of Direct Exchange Line (DEL) to his service provider. Thus, the service is likely to be more user-friendly than a DEL. The TRAI also noted that DID provides an option that requires less investment per user in comparison to a DEL. The Authority further noted that at the prevailing tariffs needed to change for the extension users of DID to find the service attractive in comparison to a DEL. Accordingly, the tariffs for end-users of DID have been amended.

5. The standard rental charged for extension user of DID franchisees is to be reduced from Rs.125 per month to Rs.100 per month. The standard call charges are reduced from Rs.1.20 per metered call to Rs.0.90 upto 500 metered call units per month. In respect of calls exceeding 500 metered call units per month, the call charges shall be Rs.1.10 per metered call unit.

Details are available at "www.trai.gov.in"

 

 

'15'

SALE (RE-ISSUE) OF 11.03 PER CENT GOVERNMENT STOCK, 2012

PRESS NOTE

    Government of India have announced the sale (re-issue) of 11.03 per cent Government Stock, 2012 for a notified amount of Rs.4,000 crore through a price based auction. The auction will be conducted by the Reserve Bank of India, Mumbai on November 13, 2000 (Monday) and the successful bidders will have to make payment on November 14, 2000 (Tuesday) before the close of the banking hours.