The leaders opposing the bill include CWC me-mber Arjun Singh and party leaders K Karunakaran, Vayalar Ravi and Janardhan Poojary. Their contention is that foreign participation in insurance will hurt the "swadeshi" spirit which the party needs to take on its opponents.

Those supporting the measure include former finance minister Manmohan Singh, former defence minister Sharad Pawar and Pranab Mukherjee. This school of thought is credited with the view that the party is committed to supporting the bill right from the beginning.

Caught in a jam over the bill on the eve of its possible tabling in the Lok Sabha on Monday or Tuesday, Sonia Gandhi will listen to both viewpoints at the meeting of the party's legislative affairs committee here tomorrow before announcing the party'sdecision. While the opponents of the bill within the party have taken a specious plea to push their point, the supporters have made a solid case to back their arguments.

Though Sonia Gandhi has not made her views public in the matter, party sources close to her maintain that she is in favour of the bill being passed.

Arjun Singh, it may be recalled, had even opposed PV Narasimha Rao's reform measures initiated in 1992 saying that they lacked "human face", touching off big rumpus in party fora. Subsequently, Arjun Singh resigned from the Rao government.

As for Kerala politicians' opposition to the IRA bill, party sources maintain they are moved more by realpolitic of domestic compulsions in the state currently ruled by the left than by ground realities of international economics. All the left parties are opposing the IRA bill.

Meanwhile, the BJP is all set to introduce the bill in the Lok Sabha. It is, however, keeping its fingers crossed as regards the atmosphere in the house in the wake of rumpusover the women's bill on Friday. The house had to adjourn without transacting any business following quarrel over the women's bill between the SP-RJD-left benches and the BJP.

These benches may again rake up the issue to stall the IRA bill from being tabled. All depends upon the floor management of the ruling party.