Friday, August 26, 2011

Ind-Barath to raise funds through PE


Hyderabad-based Ind-Barath Power is looking to raise Rs 1,000 crore through private equity, after the company shelved its plans to go public due to volatile market conditions.
The company is in discussions to raise the money through a private equity deal of almost the same fund size that it had initially planned to raise through an initial public offer, said a person privy to the development. The company did not respond to an e-mailed questionnaire on the issue. In June 2010, the company had filed a draft red herring prospectus which has expired. It was planning to raise around Rs 1,100 crore. Ever since the markets have been volatile, many companies deferred their plans to go public. “L&T Finance has recently received a good response to its IPO, but the current low valuations of listed power and infrastructure companies are a damper,” say experts.
The company which planned to use the proceeds of the IPO for expanding its power generation capacity is now in need of equity for its projects, which are in various stages of development. It is operating a power capacity of around 300 megawatts.
It has three power plants with a combined generation capacity of 1,337.5 megawatts. The company is developing a 700 megawatt coal-based power project in Jharsuguda, Orissa. The first unit is expected to be commissioned by January 2012.
Ind-Barath is also implementing a 660 megawatt power project at Thoothukudi, Tamil Nadu, that is expected to be commissioned by December 2013. It is developing yet another 300 MW power project in Tamil Nadu, where it has targeted a first unit generation to start by March 2012. It also has a small hydro power project in its kitty with a five megawatt capacity.

National honour for 18 TN police officers


CHENNAI: The Centre on Sunday announced the 2011 Independence Day gold medals for 18 officers of the Tamil Nadu Police.
A press release from the DGP’s office, said the police officers were selected at the all-India level for the distinction, and the medals were awarded on Republic Day and on Independence Day.
The medals — considered the highest honour for police officers — were given, taking into account their achievement and reputation.
Two officers, who had been awarded the President’s Police Medal for Distinguished Service, were Sanjeev Kumar, Additional DGP, Headquarters, Chennai, and M Ashok Kumar, DCP, Chennai. Sixteen officers, awarded the Police Medal for Meritorious Service, were G Venkataraman, Dy IGP, Vigilance and Anti-corruption, Chennai; P Murali, SP, State Human Rights Commission, Chennai; S Jayapandian, Dy CoP, L&O, Tiruchy; A Chandrasekaran, SP, Dindigul; N Sivanantham, Dy CoP, Armed Reserve, Chennai; K Balraj, Commandant, TN Special Police Regimental Centre, Avadi; M Xavier Boneventure Stanley, Dy SP, Uthamapalayam Sub-Division, Theni; P Balasubramanian, Dy SP, Special Division, Special Intelligence Unit, Vellore; P Panneer Selvam, Dy SP/Vice Principal, Police Recruit School, Thoothukudi; M Giridhar, Dy SP, Control Room, Office of the DGP, Chennai; N P Rajendran, Inspector, Jam Bazaar L&O Police Station, Chennai; E Sorimuthu, Inspector, Special Task Force, Erode; K Ravi, Inspector, TN Commando Force, Chennai; M Palaniappan, SI, Special Branch, Salem; P Subbiah, Special SI of Police, Highway Patrol Monitoring Cell, Headquarters, Chennai and G Sundararajan, Special SI of Police, Ammapet Police Station, Thanjavur District.

Consecration of MGR temple today


CHENNAI: Nathamedu, a non-descript village near Tirunindravur in Tiruvallur district, is all set to be the hall of fame for MGR fans, as it would house the first temple that would have a concecrated statute of ‘Makkal Thilagam’ M G Ramachandran.
It would be thrown open to public on Monday.
The consecration (kumbhabhishekam) of Arulmigu MGR Aalayam, situated about 40 km from Chennai, will be conducted as per Hindu customs on Monday. The function is expected to be witnessed by thousands of MGR fans from across the southern states.
“The temple will have three statues of MGR,” said L Kalaivanan, a die-hard fan of the former chief minister who conceived the idea of a temple for the Makkal Thilagam. “A six-feet tall idol is placed in the sanctum sanctorum, besides a two-feet idol inside the temple. Another idol is erected on the gopuram.” Like the tens of thousands of MGR fans, Kalaivanan sees the star, who dominated the celluloid and politics of Tamil Nadu for nearly half-a-century, as God. He said that the temple has been constructed at a cost of Rs 21.5 lakh, of which Rs 1.5 lakh was contributed by MGR fans. It spreads over an area of 1,600 sq feet.
The temple would have a priest for performing poojas to the MGR idol and anadhanam has also been planned during the birth and death anniversaries of the late leader.
Interestingly, Chennai housed a temple of MGR in 1989. According to Solai Narayanan, president of Anaithu MGR Podhu Nala Sangam, a die-hard devotee named Vijaya Kumar had constructed the temple at GKM Colony in Villivakkam. However, it was demolished as the structure was built on a pavement, he added.
Recollecting that small temples were constructed for MGR in southern districts such as Karaikudi and Thoothukudi, he said, “MGR is the only political leader from Tamil Nadu, whose statues have been unveiled in Malaysia and Rathanapura in Kandy district in Sri Lanka.” Rathanapura in the neighbouring island nation is the birthplace of MGR,” he added.

Sipcot's three industrial parks to attract Rs 8,400-cr investment


Three industrials park that were promoted by state-run State Industries Promotion Corporation of Tamil Nadu Limited (Sipcot), are expected to attract investments worth over Rs 8,400 crore. The Corporation is now planning to set up a land bank to help investors address the land acquisition issue.
The Corporation, which plays a catalytic role in the development of balanced industrial growth in Tamil Nadu, so far developed 19 industrial complexes in different parts of the state and allotted an extent of 17,889 acres of developed land to 1,979 units resulting in direct and indirect employment opportunity for about 450,000 persons. Tamil Nadu industries minister S P Velumani announced in the Assembly, the total extent acquired since its inception is around 27,115 acres. This apart, proposals for acquiring land for creation of a land bank to keep adequate land readily available to meet the immediate requirement of the needy investors are under process.
This proposed land bank is developed by acquiring dry and barren lands by carefully avoiding cultivable lands.
During 2009, Thervoykandigai Industrial Park, with 1,127 acres of government poramboke land has been established at Thervoykandigai, Gummidipoondi taluk, Thiruvallur district. In this park, 290 acres have been allotted to Michelin India Tamilnadu Tyres Pvt Ltd and 85 acres to Harsha group based on the MoU entered between the companies and the government.
Besides this, 128.07 acres have been allotted to three units including Tamil Nadu Electricity Board. Through these allotments, there would be an investment of Rs 6,817 crore and employment opportunity to 5,150 persons.
Mappedu Industrial Complex, another complex in the same district at Mappedu will be spread over in 123.08 acres of government poramboke land and the entire extent has been allotted to Chennai Port Trust for setting up an integrated dry port and multi modal logistics hub with an investment of Rs 260.5 crore and with an employment potential of 700 persons.
In Manamadurai Industrial Complex, 94.99 acres of land has been allotted to Unity Appliances Ltd, a group company of Videocon, for manufacturing colour television sets and electronic consumer durables with an investment of Rs 1,500 crore.
Apart from this, 4.76 acres has been allotted to a unit as the vendor of Unity Appliances; 30.44 acres have been allotted to a unit belonging to the group of Videocon for setting up a Solar Photovoltaic power plant.
The minister said that following the administrative sanctions issued by the government, acquisition of lands is in progress in Thoothukudi phase II (1,179 acres), Cheyyar Expanion (2,300 acres), Sriperumbudur 26 (Vallam – Vadagal) Expansion (1,780 acres), Oragadam Expansion II (616 acres), Madurai Industrial Park (1,478 acres) and New Industrial Park at Villupuram District (720 acres).
This would enable Sipcot to keep ready 7,900 acres of land for allotment to industries. Sipcot has also proposed to allot 100 acres of land each for setting up of separate industrial parks for investors from countries like Japan, Korea, Finland, Germany and France to attract more foreign investments from them. Acquisition of lands for the proposal in Sriperumbudur expansion scheme is in progress now.

Spreading the word in their own way


CHENNAI: Fervent attempts to mobilize support to commute the death sentence for Perarivalan, one of the convicts in the Rajiv Gandhi assassination case, by human rights activists and Tamil nationalist groups are yet to catch the attention of mainstream newspapers or television channels. Yet, if the debate has been kept alive in the public fora, the credit should go to some small-time Tamil magazines that do not jostle for space with regular dailies and magazines on the newsstands.
Political and literary publications like ‘Tamil Desiya Tamilar Kannottam’, ‘Samooga Needhi Tamil Desam’, ‘Maanavan’ and ‘Kalachuvadu’ have been highlighting the Perarivalan issue for quite some time, so much so that when the convict’s mercy petition was rejected by the President, thousands of sympathizers gathered for public meetings and protests in Chennai last week.
Thirty-year-old Maamaruthan of Kayathar village near Thoothukudi, who came all the way to participate in a meeting at T Nagar, was spotted browsing small magazines spread out at a make-shift stall at the venue. “In the name of Dravidian ideology, big political parties have cheated Tamils and Perarivalan is one such victim,” said Maamaruthan, who runs a small magazine ‘Porkkalam’ in Tuticorin to address issues affecting Tamils at large and marginalized communities in particular. “We sell around 3,000 copies per month,” he said.
The stalls selling books and magazines are a regular feature in such meetings and protests and the magazines on display go by the names like ‘Tamilkodi Vazhi’, ‘Thaagam’, ‘Manurimai’, ‘Maatram’, ‘Manmozhi’, ‘Mudhanmozhi’, ‘Unmai’, ‘Sindanaiyalan’ and ‘Puthiya Jananaayagam’. They are brought out on shoe-string budgets by small political groups, socially active youth and activists.
“But they have strong vision and want their voices to be heard. It was the genocide of Tamils in Lanka that provoked many youngsters to start these magazines,” said Chinnappa Tamizhar, who has been selling alternative books for the last 15 years.
A R Venkatachalapathy, a professor with the Madras Institute of Development Studies, who has done extensive research on the print culture in Tamil Nadu, called this a healthy trend which has democratised the political space in the state. Pointing out that the print culture is deep-rooted in the history of Tamil Nadu, he said more than 400 small political magazines were in circulation during the peak of Dravidian Movement. “In the present context, various small political parties have their own magazines and have changed their focus based on the issues. A classic example is the Tamil Eelam issue”, he said.
After the assassination of Rajiv Gandhi in 1991, mainstream political parties in the State maintained a stoic silence over the Tamil Nationalism and the Eelam issues. But the small magazines kept the Tamil Nationalism flame alive by debating issues like Mullaperiyar dam controversy, Cauvery Water Dispute and Palar dam apart from the Eelam issue.
“In the name of pan-Dravidian ideology, our rights to livelihood, water and natural resources have been taken away by the neighbouring so-called Dravidian states like Kerala, Karnataka and Andhra Pradesh. We have been highlighting these problems in our magazine,” said P Maniarasan, editor of ‘Tamil Desiya Tamilar Kannottam,’ which has a circulation of around 10,000.
Meanwhile, activists-cum-book sellers like V Venkatesh have even spent time in prison for selling books. “My husband was arrested while selling books on Eelam issue. It took three months for us to bring him out,” said Ananthi, who was busy selling books on rational ideas at Devaneya Pavanar Arangam during a public meeting.
Chinnappa Tamizhar, who also runs a shop in MMDA colony, said he sells around 100 copies of small political magazines. Moreover, small pamphlets on reformers and leaders like Periyar, Ambedkar, Marx and Lenin are also sold in good numbers. Pamphlets on LTTE chief V Prabhakaran are also in demand, he pointed out.
However, the proliferation of the small magazines are not confined to political issues alone. Little magazines with strong focus on modern philosophical, literature and political ideas are coming out. But, without a huge market, their publication will often be irregular, said Venkatachalapathy.
Meanwhile, new technologies like desktop publishing and digital system have changed the face of small magazines. Many magazines like ‘Kalachuvadu’, ‘Uyirmmai’, ‘Pudhiya Kodangi’, ‘Dalit Murasu’, and ‘Nizhal’ have captured the place of little magazines. Interestingly, they have incorporated the tradition of little magazines like publishing serious articles on international politics, culture, literature and critical review on cinema,” said Sorna Bharathi, general secretary of Tamil Chittrithazhgal Sangam.
Explaining how technology comes handy to them, he said that during the earlier times, they needed almost one full day to print a page. It used to take a minimum of 25 days to print 32 pages, but now proof-reading is done through DTP and within four days a magazine could be brought out.
Manushya Puthran, writer and the editor of Uyirmmai said, “Leading literary critics are writing columns and articles in our magazine. The magazine is also available in the book stores in the countries like Canada, Singapore, London and Malaysia,” he said, adding that they have huge online followers too.
“But what worries us is the quality of many of such magazines. Many middle magazines don’t have quality content, and even DTP centre owners have become publishers. This trend will affect the quality of small Tamil magazines in the long-run,” said writer D Ravi Kumar, who is also a general secretary of VCK.
Sharing the same view, social activist and writer A Marx said that even in the case of small political magazines, the articles lack depth. Many of them don’t study the issues in total, but make emotional appeals, he added.
However, Ravi Kumar added that this new trend in the small magazines has created cross-cultural interaction among Tamils, thereby creating a pluralist political culture in the state. “And now issues can be addressed globally,” he added.

TN: Lawyers strengthen Annas arms


THOOTHUKUDI / KARUR: Lawyers here on Tuesday staged a protest outside the District Court premises against the arrest of Anna Hazare and his supporters, who had proposed to launch a fast against the diluted version of the Lokpal Bill being introduced in Parliament.
Lawyer Thabasi spearheaded the protest staged in front of the district court. The lawyers said that arrest of Anna Hazare was violation of a person’s basic rights and was throttling the principles of democracy. They urged for the immediate release of Hazare and warned that it would stir up protests if the government continues action against Hazare. A good number of lawyers took part in the protest.
Similarly, Members of Karur’s Anti-Corruption Movement staged a one-day token strike in front of the taluk office here on Tuesday to express solidarity with Gandhian Anna Hazare’s anti-graft movement.
The protestors reasoned that while Hazare wanted top VIPs including the Prime Minister and judges to be brought under the purview of the Bill, the Centre was trying to stall it for its own gains.
Freedom fighter Kaliannan presided over the protest in the presence of forum president and retired Velliangiri DSP, S Chandrasekar.
A number of local dignitaries also took part in the stir, which concluded in the evening.

Villagers fast for closure of KKNPP


TIRUNELVELI: The agitation against the Koodankulam Nuclear Power Project (KKNPP) has turned into a mass movement as around 10,000 villagers from 13 coastal villages staged a fast at Idinthakarai on Tuesday, demanding immediate closure of the plant. It may be noted that protests demanding closure of KKNPP have intensified in the past one week, with people from Tirunelveli, Thoothukudi and Kanyakumari districts coming together for the agitation. “The agitation has become a great success as more people than expected participated in the fast,” Fr Jayakumar of Idinthakarai said.
Villagers from Koodankulam, Idinthakarai, Kootapuli, Periyathalai, Manapad, Levinjipuram, Kooduthalai, Vijayapathy, Uvari, Kootapanai, Perumanal, Kaamaneri, Kurinkikulam, participated in the protest.
“These villages include a few from Thoothukudi and Kanyakumari districts also,” he said, adding, “a three-day fast would be staged at Koodankulam from Wednesday.” Apart from the fast, around 5,000 country boat fishermen stayed away from sea and students of these villages boycotted classes also.
“Shops were also closed in Koodankulam and Idinthakarai villages and black flags were hoisted to show their opposition,” a protestor said. It may be recalled that around four villages in Tirunelveli district and one in Thoothukudi passed a resolution demanding immediate closure of KKNPP, during the Gram Sabha meeting held on Monday.
Anti-nuclear activist M Pushparayan said that a committee comprising members from Tirunelveli, Thoothukudi and Kanyakumari was formed on Tuesday. “The committee was formed to make the agitation against KKNPP effective with the coordination of people from these three districts.The fast came to an end by 5 pm, following which they submitted a petition.
In the petition, they stressed a four-point charter, which includes permanent closure of KKNPP, suspension of the ongoing ‘hot run’, stopping the proposed safety drill that is scheduled for August 28 and withdrawal of cases foisted against the agitators. “People from these three districts will participate in the three-day fast at Koodankulam that is set to begin from Wednesday,” Sahaya Initha of National Fisherwomen Federation informed.