Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Cauvery issue: TN to move SC seeking damages

Jan 22 2013, 03:16 IST
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SummaryIntensifying the legal battle over the Cauvery issue, the Tamil Nadu government on Monday decided to move the Supreme Court seeking damages from Karnataka for the loss of crops caused by the neighbouring state's “adamant approach” on release of water.

Intensifying the legal battle over the Cauvery issue, the Tamil Nadu government on Monday decided to move the Supreme Court seeking damages from Karnataka for the loss of crops caused by the neighbouring state's “adamant approach” on release of water.

Initiating yet another litigation on the bitter decades-old Cauvery row between the two riparian states, chief minister Jayalalithaa ordered officials to file a suit in the apex court claiming damages to compensate for the loss of Kuruvai (short-term) and Samba (long-term) paddy crops in the state.

Listing out various petitions filed by her government, she said despite directions by the Supreme Court and the Cauvery monitoring committee (CMC), Karnataka had not released water in an “appropriate way”, following which the crops have been “largely affected”. Besides, hydro power generation had also been affected, she said in an official statement.

“Considering the adamant approach of Karnataka in not releasing due share of water to Tamil Nadu in line with the existing Tribunal verdict, which has been recorded by the CMC, I have directed (officials) to file an original suit claiming damages from Karnataka to compensate the damages suffered by Tamil Nadu regarding crop-loss,” she said.

Jayalalithaa said a high-level panel, appointed under finance minister O. Panneerselvam to assess the situation in the Cauvery delta districts in the wake of the crisis, will submit its report soon, following which her government will take appropriate action.

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