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Thursday, April 15, 2010
Mongoose Bat..
Honeywell to hire more in India
Honeywell International plans to increase its headcount in India to meet growing demand for aeroplanes and green fuel, which are the two key areas for the company. The automation and technology major, which has designed the cockpit for all U.S. space shuttles, had recently elevated Krishna Mikkilineni, President of Honeywell Technology, to its Global Executive Management Team, a move that signalled the American company's confidence on India
Over the past eight years, Honeywell India has grown from being a $50- million company with about 50 people, to more than $500 million in revenue and 11,000 employees. The company's area of operations include aerospace, automation, transportation and speciality materials, including the recently-developed green fuel that doesn't require cars to change their engines.
Ramalinga Raju's trial story looks bigger than scam
It seems that Satyam Computer Services' Founder B Ramalinga Raju is unlikely to come out of custody in the years to come. The CBI has presented 800 witnesses and submitted 160,000 pages of documents in the court.
It will take at least 800 days to examine 800 witnesses. The court has to record the chief examination of the witnesses, who would be later cross-examined by the advocates of the accused. With 10 accused in the Satyam case being represented by an equal number of advocates and if each of them wants to cross-examine every witness produced by the CBI, it will take at least one working day to complete the cross examination of one witness.
If we go through the court procedure, we get to know that Court works for five days in a week, and if we take public holidays into consideration, there will be not more than 225 working days in a year. This means that it will take nearly four years just to cross-examine the witnesses. Also Raju, who is currently hospitalized at the Nizam's Institute of Medical Sciences, is expected to read the 160,000 pages of documents if he has to defend himself effectively in the court.
It will take at least five minutes to go through a document page, understand it and instruct the advocates about it. At this rate, it will take 13,333 hours for Raju to go through the documents. Even if he manages to read for a minimum of 10 hours a day, it will take 1,333 days or over three-and-a-half years to complete the reading.
The government has set up a special court to expedite Satyam case proceedings. But if we take all these things discussed above into notice, it seems that the trial will not be completed in less than four years. Till now, it is not clear when the CBI is going to complete its investigation.
If we compare this case with Harshad Mehta and Ketan Parekh, who were involved in securities scams involving scores of companies, it seems that Raju is also not getting needed support from lawyers. Harshad Mehta and Ketan Parekh came out on bail in 107 and 53 days, respectively.
It will take at least 800 days to examine 800 witnesses. The court has to record the chief examination of the witnesses, who would be later cross-examined by the advocates of the accused. With 10 accused in the Satyam case being represented by an equal number of advocates and if each of them wants to cross-examine every witness produced by the CBI, it will take at least one working day to complete the cross examination of one witness.
If we go through the court procedure, we get to know that Court works for five days in a week, and if we take public holidays into consideration, there will be not more than 225 working days in a year. This means that it will take nearly four years just to cross-examine the witnesses. Also Raju, who is currently hospitalized at the Nizam's Institute of Medical Sciences, is expected to read the 160,000 pages of documents if he has to defend himself effectively in the court.
It will take at least five minutes to go through a document page, understand it and instruct the advocates about it. At this rate, it will take 13,333 hours for Raju to go through the documents. Even if he manages to read for a minimum of 10 hours a day, it will take 1,333 days or over three-and-a-half years to complete the reading.
The government has set up a special court to expedite Satyam case proceedings. But if we take all these things discussed above into notice, it seems that the trial will not be completed in less than four years. Till now, it is not clear when the CBI is going to complete its investigation.
If we compare this case with Harshad Mehta and Ketan Parekh, who were involved in securities scams involving scores of companies, it seems that Raju is also not getting needed support from lawyers. Harshad Mehta and Ketan Parekh came out on bail in 107 and 53 days, respectively.
Thursday, April 8, 2010
Nokia N97 Mini - Features, specs & reviews - 3 Shop Australia
Nokia N97 Mini - Features, specs & reviews - 3 Shop Australia
The sleek Nokia N97 mini integrates the web into your life and seamlessly connects you to your friends and favourite online services like Facebook and Twitter.
The sleek Nokia N97 mini integrates the web into your life and seamlessly connects you to your friends and favourite online services like Facebook and Twitter.
National Instruments expands R&D centre
National Instruments (NI) has expanded their Research and Development (R&D) facility in Bangalore. The center is expected to provide strategic and operational support and services for clients.
The new centre for innovation is equipped with product development infrastructure and employee workspace to provide the tools and environment required for efficient product innovation, said the company statement. In addition the new center will also focus on filing patents in the field of Motion Control algorithms and software development. As part of the strategic growth, NI will hire new talent and take on more work in the areas of product development.
The new centre for innovation is equipped with product development infrastructure and employee workspace to provide the tools and environment required for efficient product innovation, said the company statement. In addition the new center will also focus on filing patents in the field of Motion Control algorithms and software development. As part of the strategic growth, NI will hire new talent and take on more work in the areas of product development.
Wednesday, April 7, 2010
Fry defends Schumacher's form
Mercedes CEO Nick Fry has defended Michael Schumacher after a slow start to the season.
Satyam's board selection was a careless act: ICAI to Govt
ICAI's probe panel has hit out at bank for not doing due diligence on Satyam Computer Services before giving loans, and government for appointing Deepak Parkeh on its board despite his HDFC group being a major creditor to Ramalinga Raju's company.
The banks which gave loan to Satyam that time were HDFC Bank (Rs.530 crore), Citibank (Rs.223.87 crore) Citicorp Finance (Rs.222.28 crore), ICICI Bank (Rs.40 crore) and BNP Paribas (Rs.20 crore), totaling Rs.1221.16 crore.
In its final report, ICAI panel headed by Former President Uttam Prakash Agarwal stated, "There is no explanation as to why the banks, while sanctioning short-term loans did not seem to have posed any question as to why the company (Satyam) which was supposedly cash rich as per its financial statement was taking loans from them."
The banks which gave loan to Satyam that time were HDFC Bank (Rs.530 crore), Citibank (Rs.223.87 crore) Citicorp Finance (Rs.222.28 crore), ICICI Bank (Rs.40 crore) and BNP Paribas (Rs.20 crore), totaling Rs.1221.16 crore.
In its final report, ICAI panel headed by Former President Uttam Prakash Agarwal stated, "There is no explanation as to why the banks, while sanctioning short-term loans did not seem to have posed any question as to why the company (Satyam) which was supposedly cash rich as per its financial statement was taking loans from them."
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