• NATIONAL NEWS

India and  US give in-principle nod for $10-b infrastructure debt fund

The governments of India and the US have given their in-principle nod for a proposal mooted by industry leaders of both the countries to set up a $10-billion fund to finance core-sector projects in India, by leveraging private capital and set the stage for broader development of the securities market and corporate finance market in India.

Government issues notices to Arcelor Mittal, Tata, Sterlite among 17 others on coal blocks

The Union Coal Ministry has served show- cause notices to Arcelor Mittal, Tata Steel, Sterlite Energy, Reliance Energy and others to explain reasons within 30 days, for delays in development of coal blocks allocated to them.

Ministry of Transport mulls creation of Expressways Authority of India

The government is considering to set up an authority for expressways, on the pattern of National Highways Authority of India (NHAI), to build high-speed road network in the country.

Central & State governments build consensus on stamp duty changes in the proposed GST

The Central government & state governments have agreed on rationalising the present stamp-duty structure on a number of items, including insurance, to reduce incidence of tax and make compliance easier. The draft document has been circulated among states for suggestions and will be finalised soon.

States propose to exempt coal from GST

The State finance ministers have asked the Central government to exclude coal from the list of proposed Goods and Service Tax (GST), so as to minimise tax liability on such an important fuel. Currently, 4% VAT is levied on coal.

Planning Commission mulling to set up Rail Tariff Regulatory Authority

The Planning Commission is mulling establishment of Rail Tariff Regulatory Authority to reduce cross subsidisation of fares and rationalise passenger and freight tariff. The freight rates prevailing in India are extremely high whereas passenger fares are too low as compared to foreign railways.

MCX-SX likely to file appeal against SEBI

The Multi Commodity Exchange is expected to file an appeal with Securities Appellate Tribunal (SAT), challenging the SEBI order to reject its proposal to be allowed to offer equity & equity related products, interest rate futures, a separate platform for SME's etc. It has already filed a writ petition in the Bombay High Court in this regard.

SEBI wants MF's to offer freebies to investors, not agents

SEBI has asked fund houses to invest part of their profits on establishing relationship with the investors, offer training to the distributors to adapt to the new environment, and bring down the commissions given to agents.

U.K government set to introduce visa for Indian entrepreneurs

Britain has announced introduction of a new category of visa - Entrepreneur Visa to encourage foreign nationals, particularly from India and elsewhere, to catalyse economic recovery in the country.

Central government to create two new all-India legal services

The Central government is finalising creation of two new all-India services - Indian Judicial Service (IJS) and Indian Legal Service (ILS) to meet the growing need of additional courts to settle ever-increasing cases and offer professional legal advice to various departments.

A Super regulator proposed to over-see working of all Tribunals, Regulatory Bodies and Authorities

The Government has proposed a super-regulator to oversee functions of all Tribunals and Regulatory Bodies, about 62 in number, set up by the Centre. The Justice department will finalise the cabinet note after receiving comments from all the concerned departments and ministries.

RBI proposes 'multi state status' for eligible UCB's

The Reserve Bank of India has proposed withdrawing restrictions on grant of multi-state status for Urban Co-operative banks (UCB's), having a minimum networth of Rs 50 crore and which have acquired weak banks in other states.

DGCA sets deadline for pilots to learn 'English'

The Director General of Civil Aviation has set a December 31 deadline for all pilots in the country to clear English language proficiency tests, failing which they can't exercise their licence privileges.

Ministry of Labour mulling a mechanism to fast-track social security schemes implementation

The Ministry of Labour is planning to create a mechanism to fast track clearance of social security schemes, financed through National Social Security Fund (NSSF) for workers in the unorganised sector.

AMFI abolishes monthly disclosure of AUM's by domestic MF's

The Association of Mutual Funds in India, the lobbying arm of domestic mutual funds, has decided to do away with the requirement of monthly disclosure of AUM's from October 2010. The disclosure would be made quarterly, which is expected to ease the unnecessary pressure on mutual funds to showcase their AUM's on a monthly basis.

RBI tightens capital-adequacy norms for large financial conglomerates

RBI has released capital-adequacy norms for large financial conglomerates, which require them to set aside more capital if exposure to group entities is above 20% of their paid-up capital. Earlier, the threshold for such capital provisioning was 30% percent.

Coal Ministry issues show-cause notice to DVC

The Union Coal Ministry has issued show-cause notices to Damodar Valley Corporation (DVC) and other mining & power utilities of seven states for delays in development of coal blocks allotted to them.

DOT directive to telecom operators in North-east

The Department of Telecom has asked all the mobile phone companies in the North-east to complete the re-verification of its customers within three months, as no recharge will be allowed for unverified connections after the expiry of the given period.

TRAI exploring ways to block IMEI numbers of stolen mobile handsets

The Telecom Regulatory Authority of India has called upon all stakeholders in the telecom industry to give suggestions on issues relating to blocking the International Mobile Equipment Identity (IMEI) for lost or stolen mobile handsets.

RBI hikes short-term policy rates, tightens housing loan norms

RBI has raised its key policy rates i.e repo & reverse repo rates by 25 basis points to 6.25% and 5.25% respectively to tame inflation. It has further tightened housing loan norms by capping loan disbursement to 80% of the value of property, and increasing asset provisioning & risk weights for home loans.

Delhi government approves bus clusters under the scheme of corporatisation

The Delhi government has given green signal for award of work for cluster 2,3,4 and 5 to private players, which will result in addition of 682 buses under the scheme of corporatisation of bus clusters in the capital.

Mobile Number Portability (MNP) to commence from November 25, 2010

The Department of Telecom has announced the countrywide launch of MNP services in Haryana Licensed Service Area from November 25, 2010 which would enable the customers in Haryana to have the option of changing their service provider without changing their mobile numbers.

ICAI rejects agricultural-accounting norms of IFRS

The Institute of Chartered Accountants of India has decided not to go ahead with IFRS draft accounting standard for agriculture due to India-specific concerns regarding assessment of 'fair value' of the agricultural sector.

Ministry of Environment to unveil clearance norms for coal-related projects

The Ministry of Environment & Forests has decided to consider only those coal-related projects such as thermal, sponge and steel etc which had approved supply of raw material. Moreover, firms would have to give details of the status of environmental clearances of the coal sourced for the project.

US-based Hedge Funds approach SEBI against Shree Ashtavinayak

Two global hedge funds - US based QVT and Highbridge Capital have approached SEBI and the ministry of corporate affairs against film production company Shree Ashtavinayak, saying that the company prevented them from converting their foreign currency convertible bonds into shares without disclosing the reasons.

Government to change selection process for judges

The government is planning to bring amendments to the existing provisions governing selection of judges, to ensure greater transparency and give the executive an equal say in the appointment of judges to the higher judiciary.

National manufacturing policy on the anvil

India will soon unveil a National Manufacturing Policy to push the share of its manufacturing sector to GDP from present 17% to 25% of GDP by 2020.The thrust of the policy is to ensure integrated manufacturing zone development, particularly setting up of greenfield industrial townships across India.

Government plans to amend Railway Property (Unlawful Possession) Act, 1966

The government is planning to bring amendments to the Railway Property (Unlawful Possession) Act, 1966 to empower Railway Protection Force (RPF) officers to conduct enquiry on receipt of information and effectively deal with passenger-related offences.

DoT to commence random testing of mobile towers for radiation

DoT will soon start random testing of mobile tower radiation, to ensure adherence to internationally accepted guidelines. Non compliance will result in stiff penalty.

Ministry of Finance to include 'insider-trading' regulations in SEBI Act

The Ministry of Finance has initiated consultations with various stakeholders to include detailed 'insider-trading' regulations in the SEBI Act to ensure its unambiguous applicability to all possible situations and provide legal sanctity for better administration.

DOT rejects TRAI's demand to adjudicate telecom operators

The Department of Telecommunication has rejected the demand of telecom regulator to be granted powers to penalise erring telecom operators under the TRAI Act. DOT argued that adjudication does not come under the purview of TRAI and it's function is primarily to regulate telecom services.

AP to get six new CBI courts

The Central Bureau of Investigation (CBI) will open six new courts in Andhra Pradesh, out of them, four would be in Hyderabad and two in Visakhapatnam in order to speed up trial of CBI cases.

TRAI regulations to curb unsolicited calls soon

The Telecom Regulatory Authority of India (TRAI) will come out with a regulation on curbing unsolicited calls and messaging before 15 November, 2010, as earlier attempts like the introduction of Do-Not-Call Registry have failed to yield the desired results.

Central government rejects states' recommendations on GST

The Ministry of Finance has rejected both the changes recommended by state governments in the goods and services tax (GST) regime. The states had demanded to give up the proposed GST Council with the Union Finance Minister as its chairman and drop the idea of establishing a dispute settlement body.

Land Acquisition Act to kick off soon

The Central government has expressed its intention to bring an Act for land acquisition soon. The government will announce the relief and rehabilitation package for land losers, and offer work to the families affected by various projects.

• INTERNATIONAL NEWS

U.S. Supreme Court to consider limits on class-action suits

Class-action lawsuits have long been a battleground between consumer lawyers and attorneys representing cell-phone companies, banks, and other large businesses that deal with millions of customers. The U.S. Supreme Court is scheduled to hear arguments in a case pitting AT&T Mobility L.L.C. against a group of California consumers - a case that first arose over a $30.22 dispute but could have huge impact on consumers' and workers' access to the courts. Plaintiffs' attorneys said that they worry as an increasingly business-friendly high court could issue a sweeping decision similar to its unexpectedly broad ruling in January's Citizens United case, which ended long-standing restrictions on corporate political spending. They say such a ruling could undermine their ability to address corporate wrongdoing that falls through the cracks because it causes only a small amount of harm to each of a large number of customers.

Attorneys for AT&T and its allies say consumer class actions and similar cases cost companies billions of dollars in litigation expenses and lead to small payments to class members but large fees for their attorneys. As an alternative, they have crafted language in customer contracts that require arbitration for individual disputes and bar class-wide arbitrations or class-action lawsuits.

High Court Rejects Preliminary Health Reform Challenge

The first preliminary challenge to the health care reform law was rejected by the U.S. Supreme Court. The appeal from a former Republican state lawmaker in California has not been heard in lower courts, so it was no surprise that the appeal was rejected by the Supreme Court. However, the fact that all the high court justices took part in rejecting the appeal may be significant. Both new Justice Elena Kagan and Justice Clarence Thomas apparently voted on the case. Kagan was President Obama's solicitor general before joining the Supreme Court. Some critics have demanded Thomas step aside from the health care reform because his wife is a leading opponent of the law.

Mother using kids to overturn ruling

The Constitutional Court is questioning whether a mother was using her children as a "weapon" in trying to get a previous ruling overturned. It hasn't been raised because the interests of the children wasn't something that worried the mother, the father or the family. The mother approached the Constitutional Court in order to get a ruling by the Supreme Court of Appeal (SCA) overturned. The SCA had denied her leave to appeal her sentence of five years' imprisonment for fraud.

Advocate Adrian Friedman, acting for the mother, argued that the SCA, the High Court and the regional court did not factor in her children when dealing with her sentence. Friedman argued that the SCA was wrong because it did not take into account an earlier Constitutional Court decision dealing with the duties of a court regarding the jailing of a primary caregiver. The Constitutional Court justices grilled Friedman, however, on whether the children's father and his family could not take care of the children in the mother's absence. He argued that the Constitutional Court could address these interests without overturning the rulings of the previous courts. He added that the woman had committed serious offences which did have implications for her family and her children.

Judge fights in Iowa, Illinois signal new era for retention elections

The $3 million that was poured into one race for the Illinois Supreme Court this year was a large but not unusual sum by the standards of judicial elections. Judicial races regularly attract millions of dollars in contributions from trial lawyers, businesses and other special interests hoping to shape the outcome of the vote, particularly when seats on powerful high courts are on the line. What was unusual about the Illinois race is that it was uncontested. Chief Justice Thomas Kilbride was on the ballot alone, part of a regular election asking voters whether they want to keep him. These so-called "retention elections" are held every decade for state Supreme Court justices in Illinois.

Kilbride faced opposition from a pro-business group, the Illinois Civil Justice League, that urged voters to oust him over a string of civil decisions it found objectionable. But Kilbride responded, mobilizing the political and monetary might of Illinois Democrats - including unions, trial lawyers and the party itself - to withstand the group's challenge. After raising more than $2 million, Kilbride kept his job with 66 percent of the vote, meeting the 60-percent threshold required by Illinois law to stay in office. But he complained bitterly about being forced to turn into a glad-handing politician, something he considers inappropriate for a judge.

High court justices in a handful of other states - including Alaska, Colorado, Iowa and Kansas - found themselves in the same position as Kilbride this election cycle. They needed to fend off campaigns to oust them in normally sleepy retention elections, which are almost always won by incumbents without much controversy or major fundraising. With the exception of three justices in Iowa, who were ousted in a backlash over a contentious ruling legalizing gay marriage, all of the state high court justices subject to retention elections won - although some of them won by only a few percentage points, and not without looking uncomfortably over their shoulders.

Judicial commission holds its 1st meeting

The first meeting of the Pakistan judicial commission, set up under the 18th Amendment, was held on in the premises of the Supreme Court. The meeting was presided over by Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry, who, being the chairman of the commission, approved the commission's rules and regulations. It was decided that for each anticipated or actual vacancy of a judge in the Supreme Court or CJ of the FSC or high courts, the CJP/chairman would initiate nominations in the commission for appointment.

According to the rules, the chairman would regulate the commission's proceedings. Whenever a nomination is received under Rule 3, the chairman would call a meeting on a date, time and place determined by him, and notified to each member by the secretary. The commission may call any person or authority for any information required by it to carry out its functions. Its secretary would forward the nominations made by the commission to the secretary of the parliamentary body constituted under Clause 9 of Article 175A.

National Judges selection called into question

The Supreme Court of Jakarta is recruiting new lower court judges, but a flaw in the selection process may lead to the result's legality and transparency to be called into question. The court recently opened registration for new lower court judges and civil servants. Its website says 205 new judges are needed to fill empty seats in district and high courts all over the country. Of the number, 100 would be stationed in general jurisdiction, 75 in religious and 30 in state administrative courts.

But the Judiciary Watchdog Coalition warned of a possible defect in the end result as the Judicial Commission, an institution authorized to play a supervisory role on judges, is still left out of the selection process of new judges. The commission's involvement in the selection of state judges is stipulated in the judiciary reform law passed in late 2009, which says that the selection is conducted together by the Supreme Court and the Judicial Commission.

Texas high courts welcome clerks with diverse views

Almost without fail, liberal justices hire liberal clerks and conservative justices hire conservative clerks.

Given that judges in Texas are elected on partisan ballots, Texas' high court justices perhaps have all the more reason to seek clerks whose political sentiments mirror their own. The nine justices on the Texas Supreme Court, after all, have been entirely Republican for the past 12 years. And yet, the law clerks who serve the court represent no single ideological imprint. More than a stellar academic record, a strong law clerk must have a searching mind and an exceptional ability to write with clarity and concision. These skills exist outside of, and despite any, personal political sentiment. 

 A conclusion evidenced by the fact that the state Supreme Court uniquely permits its law clerks into the court's confidential deliberations, in which the justices discuss petitions and ultimately vote on final opinions. This tradition arguably reveals a particular willingness by the court to enrich and fortify the reasoning behind its decisions. The inference seems to be that some justices are at risk of altering their outcomes based on the persuasion of wayward clerks. A strong judge, after all, invites views that test his own theory of the case. The existence of varying perspectives provides rich ground for assessing competing arguments, exploring the views of colleagues, and ultimately arriving at a resolution that values justice over ideology.

Kanyarukiga guilty of church massacre in Rwanda genocide

A Rwandan businessman has been sentenced to 30 years in prison for his role in destroying a church in which 2,000 Tutsis were sheltering in 1994.A UN tribunal found Gaspard Kanyarukiga guilty of genocide and extermination as a crime against humanity. A court spokesman said Kanyarukiga was found to have assisted in grouping Tutsis in the church before calling for it to be destroyed. Some 800,000 ethnic Tutsis and moderate Hutus were killed in the 1994 genocide. Kanyarukiga had denied the charges. He was arrested in South Africa in July 2004 and transferred to the International Criminal Tribunal for Rwanda (ICTR) in the Tanzanian town of Arusha. He is the second person to be convicted of the massacre at the Notre Dame de la Visitation Catholic church in Nyange. The church's priest Athanase Seromba was sentenced to life in prison in 2008.

Zuma Appoints New Judges

South African President Jacob Zuma announced the appointment of 17 judges to various courts across the country. Last year, President Zuma also appointed Seriti as chairperson of the Independent Commission on the Remuneration of Public Office Bearers, a commission which is tasked with establishing a framework for the allowances and salaries of some public office bearers like councilors. Seriti was appointed alongside Leona Valerie Theron and Stevan Majiedt, who all will assume their duties. Pretoria Bar Council chairperson, Hendrik Johannes de Vos, has been appointed as a judge of the North and South Gauteng High Courts with effect from 15 November. De Vos was appointed alongside Mahomed Ismail, Fayeeza Kathree-Setiloane, Ramarumo Monama, Selewe Mothle and Willem Wepener.

For High Courts in Pietermaritzburg and Durban, Zuma appointed Nompumelelo Radebe and Rishinand Seegobin as judges. They will both assume their duties . Chimanlal Patel was appointed as Deputy Judge President in the same high courts.Only two appointments were made for the Eastern Cape. Belinda Hartle was appointed as a judge of the Eastern Cape High Court and Gloria Mjali as a judge in the Mthatha High Court. One appointment was made for each Western Cape and North West. Monde Samela was appointed as a Judge of the Western Cape High Court, while the Nadia Gutta was appointed as judge of the North West High Court.For the Competition Appeal Court, Zuma appointed Nambitha Dambuza as a judge for a period of ten years with effect from 31 October.

President Jacob Zuma to Promote Developing Countries Interests At G20 Summit

President Jacob Zuma is expected to promote the interests of developing countries and Africa in particular when he leads a South African delegation to the fifth G20 Leaders Summit. The summit is scheduled to take place in Seoul, Republic of Korea and will run from 11 - 12 November.

It is the second such meeting of the G20 for 2010 following the June Summit in Toronto, Canada. South Africa seeks to strengthen multilateralism within the G20, with the ultimate goal of ensuring fair and effective responses to the challenges confronting the world today. It also believes that a global response is required to counter the impact of the global economic and financial crisis, and limit its effects on emerging and developing countries, in particular in Africa.

Nebraska court not to weigh on immigration measure

The Nebraska Supreme Court won't weigh in on whether municipalities can enact immigration-related restrictions on where people can live or work. A federal judge had asked the state's highest court to consider the legality of local restrictions as she hears a lawsuit challenging the city of Fremont's ordinance barring illegal immigrants from renting or working there. The high court said the request didn't allege a violation of state law, so it won't take up the question.

The American Civil Liberties Union of Nebraska and the Mexican American Legal Defense & Educational Fund, also known as MALDEF, have challenged the ordinance. The groups, whose lawsuits have been combined, say the voter-approved ordinance is discriminatory and contrary to what is allowed by state law.

Supreme Court mulls law that could slap game vendors with fine when found selling violent games to minors

Video game retailers that sell games like 'Halo: Reach' to minors could face heavy fine. Retailers who sell the latest Halo or Call of Duty video games to children would face big fines under a law being reviewed by the Supreme Court.

Despite receiving sympathy from some justices, the California law that aims to keep kids from buying ultraviolent video games faces a steep constitutional hurdle. The high court has been reluctant to carve out exceptions to the First Amendment, striking down a ban earlier this year on so-called crush videos that showed actual deaths of animals.

The law would bar anyone under 18 from buying or renting games that give players the option of "killing, maiming, dismembering or sexually assaulting an image of a human being."

U.S Supreme Court to hear arguments on video game law

A high-stakes California case goes before the U.S. Supreme Court .The issue is over the sale of violent video games. The high court will hear arguments about whether California's law to protect children is constitutional. A California law passed five years ago makes it illegal to sell or rent violent video games to minors.

However, it has been struck down by two lower courts. The Supreme Court of the United States is now taking up the case with one side arguing it's a violation of the First Amendment, and the other saying the games incite children to be violent. Six other states have also tried unsuccessfully to ban the sale or rental of violent games. So California could find it a challenge to defend its law. Game developers argue the case is important to a $10 billion industry.The Supreme Court's decision will be issued sometime next spring.

Alaska Supreme Court justice faces retention vote

A retention vote for an Alaska Supreme Court justice has pitted opponents that call her an activist against supporters who argue that criticism distorts her record. The independent Alaska Judicial Council, which reviews qualifications for judges, has recommended that voters keep Justice Dana Fabe, the Fairbanks Daily News-Miner reported. She was the first woman to join Alaska's high court 14 years ago and has been part of many high-profile decisions, including abortion cases. Supporters, working through the recently formed 'Alaskans for Justice' Dana Fabe, said the timing of the opposition election aims specifically to prevent a balanced public debate about her qualifications. At the center of the debate is the Supreme Court's 2007 rejection of a state law that required girls seeking an abortion to get a parent's consent. Voters in August responded to the court decision by passing Proposition 2, which requires parental notification.