Bharat Daily
Art brings world leaders together
Thursday, 02 July 2009 20:31 | 
Author: Administrator | 
Kuala Lumpur, Apr 13: In an unlikely combination, Mahatma Gandhi and Osama bin Laden along with other leaders of the world, have been brought together into one frame by Malaysia's contemporary artist Ahmad Fuad Osman in an acrylic painting. The piece entitled "To Whom It May Concern" features the spectral faces of the stark philosophical opposites, with others such as Mahatma Gandhi, Adolf Hitler, Albert Einstein, Benito Mussolini, Martin Luther King and Joseph Stalin, surrounded by a crowd who are video recording them.Obama too is present in the frame appearing on the camera screens in the painting. Osman the 40-year-old artist and self-confessed Obama fan says, "Obama is the face of hope and the future. Even halfway around the world, here in Malaysia, Obama fever is contagious."The heavy weights of the local art circle are renowned for their postmodern pieces depicting Malaysian culture intertwined with elements of war and economic recession.The exhibition, which will tour the United States and Europe for the next three years, features 20 works by the five artists and are expected to sell for 15,000 dollars to 20,000 dollars.
Kampani's plea annulled by SC, may face arrest Thursday, 02 July 2009 20:31 | Author: Administrator |
New Delhi, Apr 13: The Supreme Court on Monday, Apr 13 annulled a petition filed by Nimesh Kampani to stop the proceeding started against him in relation to Nagarjuna Finance Corp case. This has cleared way for the arrest of the financial industry magnate.However, the Supreme Court bench headed by Justice Altamas Kabir has allowed him to seek anticipatory bail.The firm allegedly failed to return around Rs 98.3 crore collected from 85,160 depositors in 1997-98, which lead Kampani and other executives into trouble.
Schools on warpath over English medium Thursday, 02 July 2009 20:31 | Author: Administrator |
On April 6, the Karnataka High Court (HC) issued an order to the State government and the Department of Public Instruction (DPI) to respond in four weeks to the applications forwarded by unaided schools to begin instruction in English.The HC order was issued after a Bangalore-based private unaided school challenged the deputy directors of public instruction (DDPI) for rejecting the applications.Based on the HC order, more than 500 schools have already sent their applications to the jurisdictional DDPI seeking permission to teach in English.Ashwathnarayan, chairman, Shri Sharada Vidyalaya, said: "We had earlier submitted application to the DPI for English medium of instruction, but the department rejected it saying the case is pending in the Supreme Court.We have now submitted a fresh application and the DPI has to respond on the medium of instruction within four weeks as per the recent HC order."We will abide by the HC order and begin teaching in English medium as the high court order states that the parents have the right to choose the medium of instruction. The State government and the education department have violated the HC order,"he said.The education department had rejected the applications of the private schools "as the case is pending in the Supreme Court".G S Sharma, president of Karnataka Unaided Schools Association Management (KUSMA), has also decided to go by the HC order."The law of the land is greater than any order from the department. The full bench of the HC on July 2, 2008, had passed a fair judgment for the welfare of students and parents. The unaided schools will follow the HC order and will go ahead to teach in English medium," Sharma said.On the recent HC order, RN Nadadur, Principal Secretary for Primary Education, said: "We will have a discussion on the HC order with the officials from the law department. We had earlier issued an endorsement on the applications sent in by the applicants (unaided schools). However, the state government will go by its stand as per the SC judgment."On July 2, 2008, a bench of Chief Justice Joseph Cyriac, Justice Manjula Chellur and Justice N Kumar had termed the 1994 order unconstitutional and ruled that parents had the right to choose the language of instruction for their children.
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Mumbai terror attacks: Pak arrests fifth suspect Thursday, 02 July 2009 20:31 | Author: Administrator |
Islamabad, Apr 14: Pakistan has arrested fifth terror suspect, Shahid Jamil Riaz on Monday, Apr 13 for facilitating financial transactions and planning the terror strike.Seeking more information from India on the Mumbai 26/11 terror strike Interior Ministry Chief Rehman Malik, said that they have arrested Karachi-based, Riaz as suspect for indulging in the operation by providing monetary help. However, Malik refused to give any more information on the suspect.Lashkar-e Taiba (LeT) Operations Commander Zakiur Rehman Lakhvi and other LeT operatives Zarar Shah, Abu al-Qama and Hamad Amin Sadiq are in custody of Pakistani authorities.
Tech Mahindra gets Satyam Thursday, 02 July 2009 20:31 | Author: Administrator |
The government-appointed board of Satyam on Monday named the winner of the auction to sell a majority stake in the company. Tech Mahindra, a joint venture of the auto giant Mahindra & Mahindra (M&M) and British Telecom, on Monday emerged as the top bidder for Satyam Computers with an offer of Rs 58 per share for a 31 per cent equity stake in the fraud-hit company, beating two other strong rivals Larsen & Toubro (L&T) and Cognizant-Wilbur Ross combine.After evaluating the bids, the Satyam board on Monday morning announced that its directors have "selected Venturbay Consultants Private Limited, a subsidiary controlled by Tech Mahindra Limited, as the highest bidder to acquire a controlling stake in the company, subject to the approval of the company law board (CLB)."Engineering firm L&T's bid was at Rs 45.90 per share, while the Cognizant-Wilbur Ross combine had put in their bid at Rs 20 per share, Kiran Karnik, Satyam board chairman told reporters.In effect, Tech Mahindra will have to pay Rs 1,757 crore to buy 31 per cent stake in Satyam. The enterprise value of the company thus stands at Rs 5,667 crore on its expanded equity.Tech Mahindra's total acquisition cost will be Rs 2,890 crore for 51 per cent stake after the 20 per cent mandatory open offer for Satyam shares. If the company fails to get 20 per cent from the open offer, it will be allowed to make good for the shortfall with fresh equity capital.Conflict of interestsDeepak Parekh and S B Mainak stayed off from the selection process due to possible conflict of interests as Parekh sits on the board of M&M, while Mainak is the executive director of a significant shareholder of another bidder.In the open offer, after CLB's approval, all shareholders, including American depository share (ADS) holders, will be able to take part.Earlier in the day, Tech Mahindra and Satyam Computers executed the share subscription agreement with the company envisaging to acquire 30,27,64,327 shares of Satyam.Karnik said the stand-still agreement with the bidders prevented them from buying or selling Satyam's shares for the next six months.So L&T, which is a huge shareholder in the company, cannot sell its stake for the next six months, being privy to the key information during the bidding process.Commenting on Tech Mahindra's successful bid for Satyam, S Gopalakrishnan, CEO, Infosys Technologies, said: "It is commendable that the government-appointed board at Satyam has been able to bring a closure to the uncertainty surrounding Satyam's future.The government has addressed the issue quickly and responsibly. Overall, it is a good thing that the issue is put behind us."
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