EC Indicts Jaya For Pre-poll Sops

Updated: Feb 26 2003, 05:30am hrs
The Election Commission on Tuesday made a strong indictment of Tamil Nadu Chief Minister J Jayalalithaa for announcing several pre-poll sops in Sattankulam constituency and conveyed its "disapproval" of the actions taken by her. "The full commission has gone through carefully the contents of your letter and it is regretfully mentioned that the explanation offered has not been found satisfactory by the commission," an EC spokesman said after a Commission meeting which considered the state chief secretary's letter to it.

Bhel Bags Major TNEB Contract
Bharat Heavy Electricals Ltd (Bhel) has bagged a Rs 70-crore turnkey contract for a 400 kv grid substation in Tamil Nadu in the face of stiff competition from several Indian and multinational companies. The grid substation is being set up with associated 230 kv multi-circuit transmission lines at Allamathy near Chennai by the Tamil Nadu Electricity Board (TNEB). The project, aimed at improving the power supply in Chennai and its adjoining areas, will be commissioned in a tight schedule of 18 months.

New Home Loan Product From IDBI Bank
IDBI Bank will hold a three-day exhibition `Veedu Vasathi Vazhkkai' in Chennai from March 7. The fair aims to bring together 55 housing developers and prospective buyers in the city. The bank will launch its new home loan product wherein customers can avail up to 110 per cent of the property value as loans in the fair. Under the scheme, the bank will provide financial assistance for the complete property value, stamp duty, registration and other amenities like car park, club membership etc. The additional 10 per cent of loan will be given as a personal loan to customers, said Mr Kumar Subramanian, head-operations and retail assets in a press conference in Chennai.

Second Kochi Airport Terminal Cost
Kerala Chief Minister A K Antony told the state assembly on Tuesday that the estimated cost of constructing a second terminal at Kochi international airport at Nedumbassery was Rs 75 crore. The estimated cost for acquiring the required 800 acres of land was about Rs 40 crore, he added.

Kerala Seeks Exemption From IT Directive
Kerala has sought exemption from the income tax directorate's recent order that co-operative banks should provide details of fixed deposits above Rs 50,000, co-operation minister M V Raghavan said. Chief Minister A K Antony had written to the Centre that the directive would discourage flow of deposits to co-operative banks, the minister said.

KSIDC To Be Made Promotion Agency
Kerala State Industrial Development Corporation (Ksidc) would be converted into an investment promotion agency, from a mere long-term loan provider, state industries minister P J K Kunhalikutty said. The government would organise more investment-promotion events like the Global Investor Meet, he added.

Kochi Sky Bus Project
A few investors had shown interest in the proposed Rs 1625 crore Kochi sky bus project, Kerala transport minister K B Ganesh Kumar said. The proposals would be discussed in detail at the follow-up committee on global investor meet, he said. The government plan was to develop a 23 km-long link between Kalamassery and Thripunithura in joint venture.