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Ticket-seeking for Jharkhand
While ticket distribution for Jharkhand elections was on, hundreds of aspirants thronged the Congress headquarters. The Congress managers, desperate to avoid this crowd, met at various undisclosed locations. But this could not save all the leaders. One day, K Kesava Rao, the general secretary in charge of Jharkhand, came to his office at 24, Akbar Road, to take some documents when an irate crowd gheraoed him. Rao was almost physically assaulted amid a heated exchange of words as the aspirants accused him of taking bribes. Congress workers in the office had to rush in to rescue Rao.

21 cos mop up Rs 900 cr on an average from primary mkt
The economic slowdown might have squeezed credit flow, but primary market remained robust in 2009, with 21 companies mopping up an average of over Rs 900 crore.

News of the day

Sensex ends up 153pts
After an initial slide, the Sensex turned volatile on the back of mixed cues from the Asian markets. The index gained strength and touched a high of 16,910 - up 243 points from the day"s low of 16,667.
Management

Gas dispute hurt auction of oil and gas blocks: DGH

Upstream oil and gas regulator DGH today attributed the poor interest in auction of exploration blocks to the Ambani brothers" gas dispute. - RIL abstains from bidding under NELP - Reliance surrenders 14 blocks - DGH bellows innocence through newspaper ads - RIL-RNRL row: DGH defends itself through ad campaign - Anil Ambani"s new charge against DGH, RIL - RIL threatens to pull out of exploration "The (gas) utilisation policy and the pricing are very well clarified in our Production Sharing Contract but these have been regrettably openly challenged," Director General of Hydrocarbons V K Sibal told reporters at the end of the eighth round of bidding for oil and gas blocks. Bids were received for only 36 of the 70 blocks that were on offer. BHP Biliton of Australia, BG of UK and Cairn Energy were the only notable foreign companies that joined the bid, besides home grown giants like ONGC. Mukesh Ambani-led RIL did not put in any bid for oil and gas blocks, although it showed interest in one Coal Bed Methane block that is on auction separately. "This (legal challenge has) sent wrong signal across the world," Sibal said without naming the Anil Ambani group, which has challenged the government"s right to decide on commercial utilisation of gas and approve pricing of the same. Anil-run RNRL is seeking to enforce a 2005 family pact requiring elder brother Mukesh-headed Reliance Industries to supply natural gas from its KG-D6 field to a plant in Uttar Pradesh at a price 44 per cent cheaper than the government- approved rate of $4.20 per mmBtu. The Supreme Court is slated to start hearing on the matter from October 20. "When you invite investment, the signals are what matter the most. We have one of the best PSCs in the world, but wrong signals have gone resulting in what you say is a poor response," said Sibal, who the Anil Ambani group has charged with favouring Mukesh Ambani-led RIL. Essar Oil was the most aggressive bidder bidding for six CBM blocks, RIL one, while Arrow Energy of Australia bid for two. ONGC bid for one block in consortium with Jindal Petroleum and Neyvelli Lignite. Sibal had earlier said that "negative publicity because of the fight between two corporate giants" would result in fewer bids. "Any fight between corporates has a negative impact. No fight has a positive impact."


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