Leaves pic on buses: DMK wants EC to derecognise AIADMK

An issue over the painting of pictures of leaves on the newly launched small buses rocked Tamil Nadu Assembly today with DMKalleging it represented the ruling AIADMK's symbol, a charge rejected by the government.

The issue was raised outside the Assembly too with the DMK's legal wing serving notices to Chief Minister Jayalalithaa and others besides petitioning the Election Commission (EC) seeking to derecognise AIADMK for allegedly violating model code of conduct in force for the December 4 Yercaud Assembly bypoll.

The DMK has also sent the complaints to the Comptroller and Auditor General and the state's Directorate of Vigilance and Anti-Corruption demanding action for alleged misuse of public funds to further the poll prospects of the ruling party.

In the Assembly, DMK members sought to raise the issue and some remarks of Municipal Administration Minister K P Munusamy against DMK member E V Velu, a former AIADMK man, led to vociferous exchange of words between the two sides.

Speaker P Dhanapal ordered that none of the remarks made by DMK members will go on record, even as opposition MLAs were up on their feet seeking permission to raise the issue.

Suddenly, DMK members S S Sivasankaran, Soundarapandian and Dravida Mani rushed towards the Speaker's podium and squatted before the chair.

With his repeated pleas to return to their seats going unheeded, Dhanapal ordered the trio's eviction from the House.

Later, Transport minister K T Senthil Balaji denied DMK's contention that the leaves symbol on the small buses were representative of ruling AIADMK's symbol, the "Two Leaves".

Leaves were printed on the sides of the buses to promote the concept of greenery, he said and accused the DMK of making an issue as they were unable to accept the popularity of the AIADMK Government's initiative.

DMK legal wing's notice was also sent to the state Transport minister, Chief Secretary Sheela Balaakrishnan and Managing Director of Metropolitan Transport Corporation among others.

The complaint stated that the AIADMK with calculative and scientific motive has painted its "Two Leaves" symbol on 50 mini-buss launched on October 23 and also on some 610 buses.

More: http://www.business-standard.com/article/pti-stories/leaves-pic-on-buses-dmk-wants-ec-to-derecognise-aiadmk-113102800698_1.html

Samsung launches dual screen flip phone for Rs. 51,900

Korean electronics major Samsung today launched a golden coloured dual screen flip smartphone under its Galaxy series for Rs. 51,900. The phone is equipped with two 3.7 inch screens. "While the outer screen enables the users to make and receive calls, flipping the phone open brings

up the inner screen and a large 3x4 keypad with big and bold keys to help users operate the phone with greater ease," the company said in a statement.

The company said the design is aimed at making the phone easy to use and operate.

The phone also comes with a 'hidden receiver' that allows users to take calls without opening the folder and provides high quality sound in noisy areas.

The device is powered by 1.7GHz dual-core processor, has 1.5 GB RAM and is based on the Android 4.2 Jelly Bean operating system.

It has 8 mega pixel rear and 1.9-mega pixel front camera and comes with 16 GB internal memory.

"With its innovative dual display and premium golden finish, Galaxy Golden brings together the best of touch and type experience on a smartphone," Samsung Mobiles and IT Country Head Vineet Taneja said.

More: http://www.hindustantimes.com/technology/gadgets-updates/samsung-launches-dual-screen-flip-phone-for-rs-51-900/article1-1144054.aspx

SC rejects petition against Robert Vadra, says don’t use PIL to target one person

The Supreme Court on Monday rejected a petition filed by the CBI against Indian buisnessman and Congress president Sonia Gandhi’s son-in-law Robert Vadra in land acquisition case in Haryana.

The court slammed the petition which had demanded CBI investigation in the case.

While dismissing the PIL filed by advocate ML Sharma, the bench of Justice HL Dattu and Justice Ranjan Gogoi said that a PIL cannot be used to target and bring down the reputation of one person and for gaining cheap publicity.

Justice Dattu also told Sharma that he shouldn’t destroy the good job done by him for cheap publicity.

Senior IAS officer Ashok Khemka had alleged in a report that Vadra had falsified documents to execute a series of fraud transactions for the sale of 3.5 acres of land in Gurgaon to real estate giant DLF for Rs. 58 crore.

Meanwhile, the Haryana government has completely denied giving any preferential treatment to Vadra.

More: http://zeenews.india.com/news/nation/sc-rejects-petition-against-robert-vadra-says-dont-use-pil-to-target-one-person_886430.html

Indian bond yields rise ahead of RBI policy review

The government bond yields rose on Monday, a day before the central bank's policy review at which it is widely expected to raise the repo rate to further bolster itsinflation fighting credentials. Dealers are waiting to see whether the central bank signals a further increase in repo rates, which could spark a sell-off in the debt markets.

Post trading hours, the central bank said in a report it is important that monetary policy keeps a tight leash to prevent price shocks from getting generalised.

The Reserve Bank of India is expected to raise the repo rate by 25 basis points for a second consecutive month, but it is also expected to cut the marginal standing facility (MSF) rate by 25 basis points. "We are expecting a 25 bps hike in the repo and an equivalent cut in the MSF rate.

The market will closely watch the guidance of the central bank," said R.Sivakumar, head of fixed income at Axis Mutual Fund. The benchmark 10-year bond yield closed 8 bps higher at 8.66 per cent.

It moved in a range of 8.58 per cent to 8.67 per cent during the session. Tuesday's review comes in the backdrop of benign global cues as the Federal Reserve is now expected to hold on to its extraordinary monetary stimulus till 2014 as data out of the United States continues to remain weak. The rupee has recovered 12 per cent since its life low of 68.85 to the dollar on Aug. 28, giving room to the central bank to move further away from its measures to stabilise the rupee.

In the overnight indexed swap market, the benchmark five-year swap rate closed 5 bps up at 8.24 per cent while the one-year rate ended 6 bps higher at 8.43 per cent.

More: http://economictimes.indiatimes.com/markets/bonds/indian-bond-yields-rise-ahead-of-rbi-policy-review/articleshow/24824433.cms