Tata Sons board's decision in interest of group's future: Tata

Mumbai, Nov 1 (PTI) As ousted Tata Group Chairman Cyrus Mistry stepped up attack, Ratan Tata today hit back saying his removal was "absolutely necessary" for the future success of the Tata Group.

"The decision to change the leadership of Tata Sons was a well-considered and serious one for its board members. This difficult decision, made after careful and thoughtful deliberation, is one the board believes was absolutely necessary for the future success of the Tata Group," the interim chairman wrote to employees of USD 100 billion Group.

The letter came shortly after Mistry ratcheted up war of words by rebutting "insinuations" of mishandling a dispute with Japan's NTT DoCoMo, saying Ratan Tata was party to all decisions regarding the telecom venture.

Tata, 78, who retired as Tata Group Chairman nearly four years back, justified his return for "maintaining stability and continuity of leadership" and promised to give the group "a world-class leader" when a fulltime boss is appointed.

Earlier in the day, Mistry's office issued a statement saying all decisions on the telecom joint venture with DoCoMo and the following dispute were taken with unanimous approval of Board of Tata Sons as well as family patriarch Ratan Tata.

The handling of the USD 1.17 billion compensation slapped by an arbitration panel over breach of agreement with DoCoMo is said to one of the triggers for Tata Sons sacking Mistry last month.

"Insinuations that the Docomo issue was handled under the watch of Mistry in a manner inconsistent with Tata culture and values are baseless. The suggestion that Ratan Tata and the trustees would not have approved of the manner in which the litigation was conducted is contrary to what transpired," the statement said.

Responding to the statement, a Tata group spokesman said: "The insinuations are being imagined and this (DoCoMo) matter is sub-judice."

Tata in his second letter to employees after the October 24 sacking of Mistry, said the Group companies should focus on their profit margins and their market position and not compare themselves to their own past.

"The focus has to be on 'leading' rather than 'following'," he wrote

Aishwarya turns 43; to celebrate birthday with family

Mumbai, Nov 1 (PTI) Bollywood star Aishwarya Rai Bachchan, who turned 43 on Tuesday, will celebrate the day with her family and close friends.

According to sources, Aishwarya will be having an intimate dinner with family and friends. However, this time the "Sarbjit" actress will not be holding a press conference which she usually does on her birthday at her residence in suburban Juhu.

From being crowned as Miss World to becoming a top Bollywood actress, Aishwarya has achieved great success in her career. She is currently basking in the glory of her recently released movie "Ae Dil Hai Mushkil" in which she is seen alongside Ranbir Kapoor and Anushka Sharma.

The former beauty queen made her acting debut with Mani Ratnam's 1997 Tamil film "Iruvar" starring legendary versatile actor Mohanlal and her first Hindi film release was "Aur Pyaar Ho Gaya" that same year.

She is known for her memorable performances in "Hum Dil De Chuke Sanam", "Devdas", "Chokher Bali", "Raincoat", "Provoked", "Mohabbatein", "Dhoom 2", "Jodhaa Akbar", "Enthiran" and "Guzaarish" among others.

Aishwarya took a sabbatical from acting in 2010, and returned to the silver screen with thriller "Jazbaa". She was then seen in "Sarbjit" and now her latest release is Karan Johar's "Ae Dil Hai Mushkil".

Aishwarya got married to Abhishek Bachchan in 2007 and the couple have a daughter named Aaradhya.

MHA denies charges of phone tapping of judges

New Delhi, Oct 31 (PTI) Government today strongly denied allegations that telephones of some judges were being tapped saying all such reports were "baseless and unfounded".

"The Ministry of Home Affairs strongly denies media reports alleging tapping of telephones of some judges. There is no truth in these reports. These reports are baseless and unfounded," MHA spokesperson Kuldeep Singh Dhatwalia said in a statement.

The denial came after Delhi Chief Minister Arvind Kejriwal created ripples by alleging that there is a "widespread" fear that the phones of judges are being tapped and said if it is true, then it is the biggest assault on the independence of the judiciary.

Union Law Minister Ravi Shankar Prasad has also denied the allegations, saying the independence of judiciary is fundamental and uncompromising for the Modi government.

Kejriwal made the allegations while addressing the golden jubilee celebrations of Delhi High Court here in which Modi and Chief Justice of India T S Thakur were present.

The Union Home Secretary is the competent authority for sanctioning of tapping of telephones and all such orders have to be ratified later by a high-level committee headed by the Cabinet Secretary.

Military base in Cyprus not on agenda of Russian, Cypriot top diplomats talks

Russia’s military bases in Hmeymim and Tartus are enough to conduct counterterrorist operation in Syria, Sergey Lavrov says

MOSCOW, October 31. /TASS/. Moscow and Nicosia did not discuss the issue on deploying Russian military bases to Cyprus, the republic’s Foreign Minister Ioannis Kasoulides said after talks with his Russian counterpart Sergey Lavrov on Monday.

"You say that the issue on Russian military bases has been widely discussed in mass media," the minister said. "I’m afraid it was discussed only in mass media, I don’t think this was discussed by the representatives of government circles."

"Real life showed that Russia can come to Syria without any bases," Kasoulides said, answering a question how Cyprus could help Russia in the fight against international terrorism taking into account its geographic location.

Lavrov confirmed that the issue was not discussed. "We have discussed nothing of the kind. In principle, the vessels of the Russian Navy use the ports of Cyprus, but without any special services," Lavrov said. "I don’t remember that this issue has been ever discussed between the Republic of Cyprus and us."

Lavrov went on to say that Russia’s military bases in Hmeymim and Tartus are enough to conduct counterterrorist operation in Syria.

"The location of our bases in Hmeymim and Tartus is rather favorable, so we can ensure the necessary parameters of the counterterrorist operation conducted at the request of the Syrian government," the minister said.

All foreign troops must be withdrawn from Cyprus, Kasoulidis went on.

"I must brief you on the latest events that occurred in the course of the settlement of the Cyprus problem," he said. "In particular, this concerns the matter of security. It is the most important chapter for us in any solution. We know that Russia’s stance is identical to ours in that the institution of guarantees must be eliminated and all foreign troops withdrawn from Cyprus."

He added that Russia as a UN Security Council member had always adhered to high-principled positions and kept pressing for them today.

Clinton says she won't be 'knocked off course' in final week

Wilton Manors (US), Oct 31 (AP) Hillary Clinton has vowed that she would not be "knocked off course" in the election's final days, as she sought to push past a new FBI email inquiry in a sexting probe that delivered a late jolt to her race against Republican Donald Trump.

"I'm not stopping now, we're just getting warmed up," Clinton declared during a packed rally with gay and lesbian supporters in battleground Florida yesterday.

"We're not going to be distracted, no matter what our opponents throw at us." 

Trump campaigned in Las Vegas at a casino owned by billionaire GOP megadonor Sheldon Adelson and accused the Justice Department, without offering evidence, of trying to protect Clinton following the FBI's discovery of new emails that could be related to its investigation into Clinton's use of a private email server.

"Hillary has nobody but herself to blame for her mounting legal problems," Trump said during a rally.

Clinton's advisers and fellow Democrats pressured FBI Director James Comey anew to release more details about the emails, including whether Comey had even reviewed them himself. The message was aimed at gathering more information about what the bureau is seeking from a computer that appears to belong to disgraced former New York Rep Anthony Weiner, the estranged husband of Huma Abedin, one of Clinton's closest advisers.

Tim Kaine, Clinton's running mate, said Comey owed it to the public to be more forthcoming about the emails under review by the FBI with only nine days remaining before the November 8 election.

Calling Comey's announcement "extremely puzzling," Kaine said that if Comey "hasn't seen the emails, I mean they need to make that completely plain." 

Clinton's campaign chairman, John Podesta, said Comey's handling of the matter was "inappropriate." 

Clinton made unannounced stops yesterday in Florida at an early voting location, a Miami brunch spot and a soul food restaurant. She also addressed a predominantly black church, where she spoke of overcoming disappointments.

"Scripture tells us to rejoice in our sufferings, knowing that suffering produces endurance and endurance produces character," she said. "And character produces hope." 

Clinton made no direct mention of the new FBI investigation, which has created anxiety among Democrats. But while she criticised the FBI for a lack of transparency during a campaign appearance on Saturday, she tried to shift her attention back to Trump yesterday, casting him as a selfish billionaire with a striking lack of empathy.

PM dedicates Diwali to the armed forces

New Delhi, Oct 30 (PTI) Amid tension on the border with Pakistan, Prime Minister Narendra Modi today saluted the valour of the armed forces and lauded their sacrifice while dedicating the festival of Diwali to them.

He hailed the people including celebrities for sending overwhelming messages to his "Sandesh2Soldiers" campaign.

In his monthly "Mann ki Baat" programme on All India Radio, Modi also urged all citizens and state governments to find ways of forging unity across the country and working to defeat separatist tendencies and mentalities.

In the wake of ongoing troubles in the Kashmir Valley, he said, "Unity in diversity is our strength. It is the responsibility of every citizen and all governments to forge unity and curb separatist tendencies to save the country." 

In an apparent reference to tension on the Indo-Pak border, Modi credited the soldiers for maintenance of peace and security in the country and called upon everyone to remember their gallantry while celebrating Diwali.

"In the wake of recent events, our soldiers have been sacrificing their everything for the safety and security of the country. Their dedication and labour has overwhelmed me completely. Let us dedicate this Diwali to our armed forces.

"I had invited everyone to participate in the Sandesh2Soldiers campaign and I have been humbled by the response. From students, villagers and traders to political leaders and sports persons , everyone has sent a Diwali message for our soldiers," he said while referring to the jawans who are stationed in deserts and on the icy heights of the Himalayas and security personnel who are guarding our industries and airports.

"Our forces endure grave hardships for our security.

Someone is stationed in a desert, someone on the Himalayas, someone is guarding our industrial installations and someone is protecting our airports. Everyone is fulfilling a mighty responsibility. If we remember them while being in a festive mood, our remembrance will give them strength and renewed energy. I thank everyone for responding to Sandesh2Soldiers," Modi said in over half-an-hour address on the occasion of Diwali.

In a veiled reference to the unrest in Kashmir Valley, the PM also called for forces of unity to be strengthened and those of separatism to be defeated.

"Unity in diversity is the strength of our country. Every citizen and every government must work to find ways of forging unity and defeating separatist mindset and tendencies," he said as he remembered Sardar Patel who strived hard to forge unity in the country and bind it together.

Mishra spins web as India crush NZ by 190 runs, win series 3-2

Visakhapatnam, Oct 29 (PTI) Amit Mishra produced a magical spell to claim 5 for 18 as India clinched five-match ODI series 3-2 with a thumping 190-run victory in the final game, here today.

It was a perfect Diwali gift for the Indian cricket fans as Mahendra Singh Dhoni's men carried the demolition job in style as the spinners made Black Caps' succumbed to their lowest-ever total against India in ODIs.

Batting first, India scored 269 for six on a surface where scoring was difficult as Rohit Sharma (70) and Virat Kohli (65) hit half-centuries.

In reply, New Zealand were skittled out for a paltry 79 in only 23.1 overs. There were five New Zealand batsman who failed to open their account during their dismal last day on Indian soil.

Mishra, who picked his second five-for was supported well by Axar Patel (2/9 in 4.1 overs) and Jayant Yadav (1/8 in 4 overs).

The leg-spinner, who did not get a chance during the Test series ended up with 15 wickets in the five-match series. Not only did his performance fetch him Man of the Match but also the Man of the Series award pipping Virat Kohli, who scored 358 runs with a century and two half-tons.

A score of 270 on a surface where the ball wasn't coming onto the bat would have been a challenge but New Zealand would have hardly imagined that wickets will fall in a heap when they were placed at 63 for 2.

The visitors lost eight wickets with addition of just 16 runs in space of 51 balls dashing hopes of their first bilateral series win in India.

It took five balls for the Kiwis to realise that the road ahead is rocky when Umesh Yadav cleaned up last match's hero Martin Guptill to make them 0/1 in first over.

Fresh from his match-winning 72 in Ranchi, Guptill was done in a by a beautiful good length ball from Yadav as it squared him up, grazed the pad before toppling the off-stump.

Skipper Kane Williamson and New Zealand's most consistent batsman of the series, Tom Latham (19) tried to build a partnership but before they could settle down a fit-again Jasprit Bumrah gave another breakthrough dismissing the left-hander to end a 28-run partnership.

On a pitch that offered turn, Dhoni brought on left-arm spinner Axar in the ninth over as Williamson and Taylor survived some anxious moments in the middle and progressed at steady pace to being 46/2 after the Powerplay.

Little did they know that they would crash in no time as Dhoni employed spin-force full on from both ends and no one disappointed including debutant off-spinner Jayant, who trapped Corey Anderson (0) lbw en route to his maiden wicket.

Sebi's educational trust comes out in CSE support

Kolkata, Oct 29 (PTI) National Institute of Securities Markets (NiSM), an educational institute established by the Sebi, came out in support for Calcutta Stock Exchange saying 'continuance of CSE far outweighs its discontinuance'.

The country's largest regional bourse, on the fourth consecutive Diwali without trading on its platform C-Star following Sebi's directives, received a surprise with the NiSM supporting its existence.

A recent 'CSE business plan' prepared by the School for Securities Information and Research of NiSM has noted, "On a social cost benefit analysis (SCBA) basis, the 'continuance' of CSE far outweighs its discontinuance." 

Adding further, the report pointed that CSE will have a beneficial impact on investors, intermediaries and issuers with the consequent benefits flowing to a larger ecosystem.

"A detailed consideration of national factors makes a strong case for the role of CSE in eastern India.

International experience shows that closure of small and regional exchanges has been proactively pursued in any jurisdiction," the report stated.

The Sebi had directed CSE not to continue with the clearing and settlement activities of trades executed on C-Star through its clearing house beyond April 5, 2013, till the bourse establishes a clearing corporation in compliance with the provisions of SECC regulations or ties up with another clearing corporation.

The report pointed out numerous rationale for its existence and future role of RSEs.

CSE officials declined to comment on the business plan prepared by the NiSM's research arm.

As per the Sebi norms, a stock exchange whose annual trading turnover is less than Rs 1,000 crore can apply for voluntary surrender of recognition and exit.

Two civilians killed in Pak firing; BSF says it has killed 15 Pak soldiers in one week

Jammu, Oct 28 (PTI) As military confrontation increased on the border, two civilians were killed in Jammu region of India in cross-border shelling and firing overnight even as BSF today claimed to have killed 15 Pakistani soldiers over the last one week.

BSF, which primarily guards the International Border with Pakistan, said it had also foiled two infiltration bids in Samba district two days back. Besides, BAT (Border Action Team) attacks from Pakistani side along the Line of Control have also been thwarted during the past 24 hours.

Firing mortar shells and using automatic weapons, Pakistani troops targeted civilian areas and forward security posts along the International Border and Line of Control in Jammu, Kathua, Poonch and Rajouri districts of Jammu and Kashmir.

"At 1720 hour yesterday, Pakistan Rangers started unprovoked heavy firing and shelling in Kathua sector of Jammu which further spread to Hiranagar and Samba. It continued till 0500 hours today in the area of 24 BSF posts," a senior BSF officer said.

"In the Pakistani shelling, one civilian died in Khour belt of Pallanwala sector today," Jammu Deputy Commissioner Simrandeep Singh said, adding another civilian was injured in R S Pura sector.

Similarly, one woman Usma Bi, aged 50 years, was killed in shelling by Pakistan on Gohlad village in Mendhar tehsil of Poonch district today, Defence spokesman said.

Another civilian was injured in area, the reports said.

BSF Additional Director General Arun Kumar said as per the ammunition used, it seems Pakistani Army Army is backing the Rangers and has taken over the posts of paramilitary force, which is further cause of escalation.

Kumar, who laid wreath at the moral remains of the BSF martyr Head Constable Jitendra Singh here, said "they (Pakistani side) are resorting to heavy firing and shelling and we are giving them befitting reply." 

He said BSF has inflicted heavy damage on Pakistani side.

"As far the number of casualities on other side is concerned, which our men have seen through our eyes and instruments, 15 Pakistani soldiers have been killed after the sniping incident of Constable Gurnam Singh (on October 21)," he said. Gurnam was injured in the sniper firing and then succumbed to the injuries.

"They (Pakistani side) have suffered damage but are hiding them in public domain and they do not accept it. Last night we have destroyed their OP (observation post) towers and some OP towers caught fire due to our firing," Kumar said.

He said Pakistani Rangers, Pakistani regulars and civilian population on their side have suffered heavy damage because of the Indian retaliation.

"The damage to civilian population is much more (than us)... We have seen large number of ambulances coming and picking up injured. They have been making announcements from mosques asking people to assemble for last rites. All that points that they suffered a lot," the BSF officer said.

Samvat 2072 comes to a close, Sensex ticks up 26 pts

Mumbai, Oct 28 (PTI) Samvat year 2072 drew to a close on a positive note as the Sensex on Friday closed higher by 26 points, aided by a rebound in Tata group stocks on value-buying and signs of earnings revival.

The benchmark has risen 2,198.25 points, or 8.53 per cent, from the previous Hindu Samvat year while the broader NSE Nifty surged 854.65 points, or 10.98 per cent, during this period.

For the week though, the Sensex dropped 135.67 points, or 0.48 per cent, while the Nifty lost 55.05 points, or 0.63 per cent.

The day marked the beginning of the November series of derivative contracts. The inflows into derivatives in the last few days has pushed rollovers higher.

The Sensex settled at 27,941.51, up 25.61 points, or 0.09 per cent. It had gained 79 points on Thursday.

The Nifty edged up 22.75 points, or 0.26 per cent, to end at 8,638.

"The auspicious festival season followed by value-buying in Tata group stocks persuaded the market to make a small comeback after a slew of corrections," said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.

After all the turbulence, select Tata group shares came back to the green on value-buying. Tata Motors, Tata Steel and Tata Global Beverages and Tata Chemicals recovered by up to 2.68 per cent.

Bajaj Auto too spurted by 3.35 per cent after the company today reported 7.2 per cent rise in consolidated net profit at Rs 1,200.72 crore for the second quarter to September.

Software exporter Tech Mahindra climbed 5 per cent even after the company reported a 16.93 per cent dip in September quarter net income.

As many as 17 scrips out of the 30-share Sensex ended higher while 12 finished lower. Power Grid ended flat.

In the range-bound trade today that showed a positive bias, buying was seen across the board as most BSE sectoral indices closed with gains up to 2.09 per cent.

Auto, realty, metal, banking and healthcare counters took the lead. Investors chased second-line stocks too.

Meanwhile, provisional data showed foreign portfolio investors (FPIs) sold shares worth a net Rs 469.93 crore on Thursday.

Asian stocks except Japan closed lower on increasing expectations the Federal Reserve will lift interest rates by this year end. Key indices from Hong Kong, Shanghai Composite and Singapore finished lower between 0.26 per cent and 0.77 per cent.

European stocks were trading in the negative terrain in early trade on weak earnings reports. Key indices in London and Frankfurt were down by up to 0.50 per cent while Paris CAC was slightly higher.

The BSE and NSE will conduct a special Muhurat trading session on Sunday, October 30, from 1830 hours to 1930 hours.

Both the exchanges will remain closed on Monday for Diwali Balipratipada. .