Thursday, March 10, 2011

Trinamool offers 58 seats to Congress in West Bengal

2011-03-09 20:50:00 Last Updated: 2011-03-09 22:13:33

Kolkata: After clearing the DMK hurdle in Tamil Nadu, the Congress is in talks with Trinamool Congress which on Wednesday said it has offered its ally 58 seats in West Bengal as against the national party's demand for 98.

"We have offered Congress 58 of the total 294 seats," Trinamool Congress general secretary Mukul Roy said.

The Union Minister of State for Shipping said that Trinamool has suggested that the seat-sharing be based on the results of 2009 Lok Sabha election and also the subsequent election to the Kolkata civic body and 79 other municipalities last year.

In the 2009 Lok Sabha election, Trinamool had won 19 seats and Congress six. The party had also registered impressive gains in the state-wide civic polls.

However, PCC president Manas Bhuniya demanded that Trinamool should concede 98 seats to Congress based on a '1:2 alliance formula' which was adopted during the 2009 Lok Sabha polls.
The seat-sharing for the 2009 poll was clinched on Mamata Banerjee's terms when Trinamool Congress contested 27 seats and Congress 14 while Trinamool's another ally SUCI fought in one.

A delegation of the West Bengal Pradesh Congress office bearers, led by Bhuniya, is in Delhi to meet the party's central leaders.

"My leader (Mamata Banerjee) has already said it will not be difficult to have an alliance with the Congress. We are already having an alliance with Congress. Do not worry. Everything will be smooth," Trinamool leader Partha Chatterjee, who is the Leader of Opposition in the Assembly, told reporters here.



In our earlier letter we just assured a touch on the elementary basis  of the payment recovery or best known as “export proceed”.  Please read the following. If you understand, well and Okay; if you do not understand, do not worry. Things will be very clear when you deal with export recovery process, as you work as probationer
in an export house. Follow the information below:

A letter of Credit (LC) is an internationally recognized instrument issued by a bank on behalf of its client, the purchaser. The LC actually represents the bank's guarantee to pay the seller, provided the conditions specified on it are fulfilled. Of course, the purchaser pays its bank a fee to render this service.

The rationale behind the use of an LC is reliance by the seller on the credit worthiness of the bank, which is normally more reliable than that of the purchaser. It is also easier to verify by the seller's bank. Moreover, this vehicle can be structured to protect the purchaser because no payment obligation arises until the goods have been satisfactorily delivered as promised. The greatest degree of protection is afforded to the seller when the LC has been issued by the buyer's bank and confirmed by the seller's bank. LCs may be utilized for one-time transactions, or they can cover multi-shipments, depending upon what is agreed between the parties. 

Collection (Drafts) involve the use of a draft, drawn by the seller on the buyer, requiring the buyer to pay the face amount either on sight (sight draft) or on a specified date in the future (time draft). The draft is an unconditional order to make such payment in accordance with its terms, which specify the documents needed before title to the goods will be passed. Because title to the goods does not pass until the draft is paid or accepted, both the buyer and seller are protected. However, if the buyer defaults on payment of the draft, the seller may have to pursue collection through the courts (or possibly, by arbitration, if such had been agreed upon between the parties). The use of drafts involves a certain level of risk; but they are less expensive for the purchaser than letters of credit. 

When goods are sold subject to consignment, no money is received by the exporter until after the goods have been sold by the purchaser. Title to the goods remains with the exporter until such time as all the purchase conditions are satisfied. As a practical matter, consignment is very risky. There is generally no way to predict how long it might take to sell the goods; moreover, if they are never sold, the exporter would have to pay the costs of recovering them from the foreign consignee. 

An open account transaction means that the goods are manufactured and delivered before payment is required (for example, payment could be due 14, 30, or 60 days following shipment or delivery). In the United States, sales are likely to be made on an open-account basis if the manufacturer has been dealing with the buyer over a long period of time and has established a secure working relationship. In international business transactions, this method of payment cannot be used safely unless the buyer is credit worthy and the country of destination is politically and economically stable.

Types of letter of credit: LCs

Commercial Letter of Credit
Standby Letter of Credit

Courtesy:All Experts:Richard

Islamic organisation offers reward in US

UPDATED  8/3/2011 10:20:55 AM

Washington: A top Islamic body in the US on Monday offered a reward of USD 5,000 for the information leading to the arrest and conviction of those who gunned down two elderly Sikh men in a Californian city last week.

Sikh men in beards and turbans are often targeted for discrimination by bigots who mistake them for Muslims, the Council on American-Islamic Council-Sacramenton Valley's Executive Director, Basim Elkarra said.

"The Muslim community offers its condolences and support to the Sikh community in this time of sorrow, he said.

"We will offer a USD 5,000 reward to anyone who comes forward with information that leads to the arrest and conviction of the perpetrators," he said in a statement.

Residents on Elk Grove in Sacramento, California; Surinder Singh, 68, and Gurmej Atwal, 78, were shot at by unidentified assailant on Friday evening when the two neighbors were on their daily evening walk.

Sikh Gurdwaras in an appeal urged Sikh community members to try not to wear traditional ethnic 'kurta' and 'payjama' while going for evening walk or any public appearance, said Gurjatinder Singh Randhawa, chief editor of the regional Sikh newspaper Punjab mail USA.

Singh, who worked as a truck driver in India and Libya before moving to the US, five years ago, died on the spot. He is originally from Pandori Ganga Singh village in Hoshiarpur District of Punjab.

His funeral has been scheduled for March 12.

Atwal, who moved to the US in 2001, continues to be in critical condition. He is from Farallah village in Nawanshahr district of Punjab.

The reward offered by CAIR-SV is in addition to the similar reward of USD 20,000 being announced by the local Gurudwaras.

Both Singh and Atwal were in their traditional Sikh dress during their evening walk when they were shot at on Friday evening.

Randhawa said this is the second such incident against the community in this area.

The first one was about four months ago in which Harbhajan Singh, a cab drive, was shot dead, in West Sacramento, he said, adding that the assailant was arrested.

Last fall, CAIR-SV called for an FBI investigation of an attack on a Sikh cab driver in West Sacramento.

The driver said passengers made anti-Muslim remarks during the attack.


BJP will take CVC Thomas issue to the people: Gadkari

2011-03-09 20:50:00
Last Updated: 2011-03-09 22:11:05

New Delhi: BJP on Wednesday distanced itself from its senior leader Sushma Swaraj's stand that the matter of CVC appointment be put to rest after Prime Minister Manmohan Singh's clarification, saying the issue has not ended and the party would take it to the people.
"The CVC matter has not ended for BJP. The Prime Minister's reply has not satisfied us. Our nation-wide programme against corruption will also present the role of the Prime Minister and we will take this issue to the people," BJP President Nitin Gadkari told reporters here.

Asked if this stand sets aside all the earlier positions taken by the party on the issue, Gadkari said "I am speaking as the party president. There is no contradiction between the statement of (Arun) Jaitley and Sushma.

 As far as the party line is concerned, I am very clear."
Gadkari toed the line taken Leader of the Opposition in Rajya Sabha Arun Jaitley and other senior leaders, isolating Swaraj in the process.

"The Prime Minister has blamed his Minister of state and he in turn has put the blame on Kerala government. Does this mean that this government is being run by Kerala government?" Gadkari said.

He argued this was not a "simple matter" and the Prime Minister needs to clarify under what "political influence" or "outside pressure" he took the decision to appoint P J Thomas as CVC who has a corruption case pending against him.