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RIL rebuts Anil's
charges against ED
In a new twist to the ongoing battle between the Ambani brothers,
younger sibling Anil Ambani on Tuesday questioned the role of Nikhil Meswani,
executive director on the board of flagship company Reliance, alleging that he
was misleading the media and investors on family issues.
Speaking through his spokesperson, Anil said, "Nikhil (a cousin of the Ambani brothers) is not involved in discussions (in the family to resolve the ownership issues). He has no locus standi."
Nikhil could not be contacted immediately for his comments.
The spokesperson said from Mumbai that "Nikhil was involved in false briefing in violation of Sebi's insider trading regulation and fraudulent trade practices regulation."
Reacting to media reports that 90 per cent negotiations were completed on the ownership issues, on which the two brothers are engaged in a bitter battle for the last six months, the spokesperson said, "strong regulatory action is required to protect interests of Reliance shareholders."
Although some of the reports had quoted sources close to Mukesh Ambani, Nikhil Meswani has not made any formal comment on the process of negotiations.
Reliance, however, strongly refuted the allegations against Meswani. A spokesperson of the company said, "All allegations against Meswani are baseless."
| VAT has increased revenue: Kerala FM |
|
Tax collection in Kerala has increased by about Rs 15 crore
in April 2005, the first month under the value added tax (VAT) regime when
compared to the corresponding month of the previous year, state finance
minister Vakkom Purushothaman said today. "The total tax collected in the month was Rs 118.04 crore. The increase is a clear indication that traders in the state were co-operating with the new tax regime," Purushothaman said. The last date for registration by traders under VAT has been extended from April 30 to May 15. The tax system has become more transparent and corruption-free, he added.
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TRAI Pulls up Service Providers
The Telecom Regulatory Authority of India (TRAI) will attempt to analyze the
tariff levied and calculate the charges for SMS, short duration calls and
metering.
TRAI said in a statement, "Any value-added service, which was earlier being
provided free of charge, shall not be made chargeable without the explicit
consent of the customer."
According to TRAI, customers are
increasingly complaining about billing matters such as the inability to verify
the bills from the operators' records, absence of clarity about the tariff
scheme on which they are being billed and inability to select the tariff most
suited for their needs.
It is usually at the time of the launch of a value added service, the customer
is given the service free for a trial period. Subsequently, after the expiry of
the trial period, the consumer is informed, usually by SMS, that if he does not
want the service he should "unsubscribe" by sending a SMS.
The Authority has observed that in the last few months, a number of operators
and also some independent agencies are increasingly providing value added
services like quiz, ringtones, tele-voting etc., through SMS. In most of these
cases, the charges for these services are more than the normal published
tariffs.
"This practice of service providers works against the interest of consumers,"
TRAI said.
This consultation paper analyses the issues relating to charges for SMS and
short duration calls, benchmarks for metering and billing accuracy, code of
practice for billing accuracy, international practices and regime for regulating
code of practice, a TRAI statement said.
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