Stocks open higher after 2008 tumble

Mumbai The year 2009 commenced on a positive note with the benchmark Sensex rising by over 103 points in opening trade on expectations of further fall in the inflation rate and firming trends on the global markets.

The Bombay Stock Exchange barometer, which had lost 68.85 points on the last session of 2008, moved up by 103.94 points to 9,751.25 points in the opening trade with all the sectoral indices, led by metal and Information Technology, trading in the positive zone with gains up to 1.85 per cent.

The wide-based National Stock Exchange's Nifty rose by 30.40 points at 2,989.55.

Marketmen said trading sentiment turned better in anticipation that the inflation rate might drop further and the government might announce more sops in its second stimulus package to be announced soon, to revive the somnolent economy.

They said reports of firming trends on the European markets also influenced the trading sentiment here. The Dow Jones Industrial average closed 1.25 per cent higher, while London's FTSE gained 0.90 per cent on Wednesday.

Shares of Satyam Computer, the country's fourth largest software services firm, continued to remain the centre of brisk activity and gathered another 3.50 per cent at Rs 177 largely on speculations that some big corporates are in talks with equity funds to acquire a strategic stake in the company.

Over 10 lakh shares changed hands in early trade on the BSE.

Other gainers which supported the Sensex were Reliance Industries by 1.2 per cent at Rs 1,245, Reliance Infra by 1.53 per cent at Rs 588.45 and Rcom by 1.43 per cent at Rs 230.50.

Source; http://www.indiavilas.com/redir.asp?l=http://c.moreover.com/click/here.pl?j1752540516

Bandra-Worli sealink to be shrunk by half

While citizens eagerly await the Rs 1,640-crore Bandra-Worli sea link to ease vehicular traffic between the western suburbs and the island city, the Slum Rehabilitation Authority (SRA) wants an important road connecting Dr Annie Besant Road to Pandurang Budhkar Marg to be reduced from its present 90 ft to 45 ft. If this happens, traffic dispersal towards south-central and south Mumbai could get adversely affected.

The reduction of the width of the road will be discussed in the improvement committee meeting of the BMC this week.

The 5.6-km sea-link starts at the Mahim interchange at the northern end and joins Khan Abdul Gafar Khan road on the Worli sea face end.

Traffic jams

Corporators are accusing the SRA of favouring the builder at the cost of inconveniencing tax-paying citizens. "A high court order prohibits rehabilitation of slum dwellers on land reserved for recreation, playgrounds, gardens, and on public amenities like roads. The SRA is suggesting that the road width be reduced and the recreation ground be shifted. This is ridiculous," said Ashish Shelar, a BJP corporator, and member of the BMC improvement committee.

"I have to check what the status of the proposal is. It is routine to send proposals that call for an amendment in the city's development plan to the state government for approval," said Shrikant Singh, SRA chief.

In numbers

63 Qutub Minars laid lengthwise would be equal to length of the link
50,000 South African elephants would weigh the same as the link
1.4 lakh vehicles ply on Mahim causeway daily
40 minutes, time required to travel by road from Mahim to Bandra

Source: http://www.mid-day.com/news/2008/nov/241108-Bandra-Worli-sealink-shrunk-in-half-90ft-roads-Mumbai-News.htm

Insurance co told to pay Rs 27 lakh claim

The Maharashtra State Consumer Disputes Redressal Commission has passed an order to attach the Fort office of the Oriental Insurance company, as the company failed to comply with its order to pay Rs 27 lakh as compensation to a jeweller.

Amrit Shah, a wholesale gold dealer, had filed a case with the consumer commission in October 2006, when the insurance company failed to pay his claim. The commission ruled in favour of Shah, and ordered the insurance company to pay Rs 27 lakh, with an interest of six per cent per annum on November 2007. However, the insurance company kept delaying the payment.

Fed up, Shah approached the commission again and the commission ordered the collector to attach the manager's office, until the company complies with the order.

Somrendra Arora, senior Division Manager, Oriental Insurance company, Fort branch, said "As it is a huge amount we sent the proposal to our head office in Delhi. And they have also approved the amount." However, he refused to comment on the attachment of the manager's cabin at the Fort office.

The case

Shah's jewellery store was looted in 2004, and gold worth Rs 25.7 lakh and Rs 1.5 lakh was found missing. The police arrested Shah for framing the robbery. Due to his arrest, the insurance company denied the compensation. Shah was acquitted in the case in 2005. A year later, Shah approached the consumer commission.

Source: http://www.mid-day.com/news/2008/nov/241108-Oriental-Insurance-Company-Fort-Office-Order-to-pay-claim-Jewellers-compensations-Mumbai-News.htm

Sridevi, husband file contempt case against film financiers

Actor Sridevi and husband Boney Kapoor filed a contempt of court case against film financiers Madhu Gupta and Sushil Gupta after they failed to produce evidence in a Rs 10-crore cheque bouncing and forgery case against them.

According to Dinesh Tiwari, who represents the couple, the Guptas don't want to provide the court or police with the cheques, as they have forged Sridevi's signatures. "This would go against their case. They filed a case against Sridevi alleging that three cheques given by her amounting to Rs 10 crore had bounced. She filed an FIR against them for forging her signature at Juhu police station on November 16, 2007. Till date, the police have not got the cheques."

The Guptas' lawyer, Amar Nagi, had made an undertaking that the cheques would be handed to the court by April 2. But, this did not happen and the Kapoors filed the contempt of court case.

Extortion?

Tiwari said Boney signed some cheques and gave them to the Guptas, but Sridevi was not present then. "The Guptas wanted 33 per cent interest over the finance they provided for Boney's film No Entry. They were trying to create obstacles in the way of the film's release," added Tiwari. While the Guptas were unavailable for comment, Nagi and Boney Kapoor said they did not want to comment.

Source: http://www.mid-day.com/news/2008/sep/030908-sridevi-boney-kapoor-contempt-of-court-case-madhu-gupta-sushil-gupta-financiers.htm

I was cheated: fake art dealer

I have been cheated," claims Shamsunder Desai, who has been arrested for trying to sell a fake painting of renowned artist Subodh Gupta. The owner of Sahiil Art Gallery, Colaba, told DCP Vishwas Nagre Patil that Delhi-based art dealer Raju Tiwari wanted him to sell the painting from his art gallery. "I paid Rs 4 lakh as advance for this painting of Subodh Gupta to Raju Tiwari," said Desai.

"I am not acquainted with the works of Subodh Gupta and so I was not able to make out that this was a fake," he added.

'80 lakh mein bik gaya

'The police made Desai speak to Tiwari on the phone the day he was arrested, to verify his claims. Here are the excerpts of the conversation.

Desai: Bhejo kisiko
Tiwari: Koi kharida hai kya usko?
Desai: Haan haan, 80 lakh mein bik gaya, aap paise lene aajao
Tiwari: Paise rakho aap ke paas
Desai: Nahin, itne paise kahan rakhun apne paas, maine socha aap le ke jao
Tiwari: Main kisi kaam ke chakkar mein pada hoon, aisa karo aap hi aajao
Desai: Main kidhar leke aaoon paise?
Tiwari: Main abhi idhar nahin hoon. Do char din rakho na paise aap ke paas
Desai: Itna paise ghar mein nahin rakh sakta main, aap aajao

'Tiwari showed me the certificate, morphed pic'

"To assure me, Tiwari also produced the authentication certificate and photograph of Subodh Gupta next to the painting, which led me to believe the painting was an original," Desai told the police.

Desai said that in March this year, Tiwari visited his art gallery for the first time on the pretext of selling some of his collection.

Tiwari had then informed Desai that since he was working with many reputed art galleries in Delhi, he had some good contacts with artists.

Three months later, Tiwari called up Desai and informed him about a Subodh Gupta painting, which Tiwari said he was getting from somebody in Patna. Tiwari also agreed to pay 33 per cent commission on the sale price to Desai.

Desai said that he collected the painting from Tiwari at an art exhibition in Kolkata in July. To prove it was an original, Tiwari also allegedly gave Desai an authentication certificate and produced a photograph of Subodh Gupta next to the painting. Desai claims he paid Tiwari Rs 4 lakh as advance.

On returning to Mumbai, Desai checked online for the pricing of Subodh Gupta's artwork and decided to quote a price of Rs 80 lakh for the paiting.

Narco test

Nagre Patil told MiD DAY that Desai was not co-operating with the police and was concealing information and hence a narco test will be done on him shortly.

Source; http://www.mid-day.com/news/2008/sep/030908-shamsunder-desai-cheated-fake-art-dealer-subodh-gupta-paintings-scams.htm

Boyfriend 'rapes' girl, forges cheque

By: Rita Ghose Date: 2008-07-18

Shameen Khan (16) and her mother Farah filed a case against Ahmed Shaikh (19, all names changed) stating that the boy had raped Shameen and had forged a cheque of Rs 58,500 in Farah's name. Police sources suggest that there was a love affair between Ahmed and Shameen, who live three buildings away from each other at Versova.

According to the complaint filed by Farah, Ahmed raped Shameen and also threatened to pour acid on her if she told anyone. The police say that it is possible that Shameen may have taken the cheque book and handed it over to Ahmed.

"I believe that the girl was enticed to hand over the cheque book and was afraid to tell her mother. We don't see any other way in which he could've got the cheque book. We will question her soon," said a officer from Versova police station.

Shameen's father lives separately. The 'victim' has completed her Std X exam and has been admitted to Oshiwara Maternity Home. The police are awaiting the medical results from Cooper Hospital.

Source: http://www.mid-day.com/news/2008/jul/180708city3.htm

Beware when you SELL your phone

By George! In this artist's impression, Hollywood chick magnet, George Clooney gives the cell phone he has been using since 2007, to the highest bidder at an auction. What Clooney may not know is that the buyer can retrieve all the data on his phone (which he obviously deleted) in a couple of minutes (and that includes steamy pics of ex flame Sarah Larson). Illustration/ Sameer Pawar

By: Aditya Anand Date: 2008-07-18

You have just deleted all the data on your cell phone and exchanged your phone for a new one at your dealer. Now, listen up. That picture you shot of your cute five-year-old boy on your cell phone can be posted on a paedophile website. Then, your numbers, confidential text messages, emails, MMSes, and basically every single data that was on your phone can be retrieved in minutes and abused.

How data is retrieved

Step 1 > The handset is connected to a computer loaded with the retrieving software.

Step 2 > The software retrieves the deleted data (which is converted into a image file after deletion) and then reconverts the data into a batch file.

Step 3 > This retrieved data is once again loaded into the handsetCan't delete data on your cellphone permanently"

You can NEVER permanently delete the data on your cell phone. Frankly, what the customer does with the retrieved data is not our concern," said a mobile phone dealer.

According to Nadeem Aibani, a cell phone expert from Heera Panna market, data from a memory card (after being formatted) can be retrieved within minutes with the help of data retrieving software. It costs just Rs 2,000. "But in case the phone is expensive, like a Vertu or a Porsche, we send it to London for cracking, which could cost up to Rs 1 lakh to retrieve the data," said Aibani.

Shop owners who sell second hand handsets specially at Manish market and Heera Panna, say 80 per cent of the cell phones are sold with the memory chip. "Buyers of second hand mobile always demand a memory chip for their own use. But this chip actually contains the data from the old phone," said the owner of a shop in Manish market on condition of anonymity.

Adds Chetan Bairai of Harmony Audio Bombay Limited in Opera House who sell mobile phones and retrieve lost data, "Buyers of second hand phones prefer high-end phones that have push-mail facility, as they become affordable.

" What can be retrieved

>>Contact numbers

>>Personal information

>>Video recordings

>>Audio recordings

>>SMSes

>>Themes

>>Songs

>>Photographs

>>Emails

>>Personal data

Source; http://www.mid-day.com/news/2008/jul/180708city1.htm