A workable solution to the current political impasse at the Centre eluded the United Front and the Congress(I) after two days of hectic negotiations between their top leaders, even as the vituperative outburst by Mr. Sitaram Kesri today against the Prime Minister, Mr. H.D. Deve Gowda, threatened to widen the chasm. The Congress(I) president chose a party workers’ meeting today to launch a frontal attack on Mr. Gowda, calling him a “coward, incompetent and communal” and accusing his Government of pursuing personal vendetta against Congress(I) leaders. Mr. Kesri’s broadside took political observers by surprise. The United Front spokesman, Mr. S. Jaipal Reddy, had described as “encouraging” the talks which the West Bengal Chief Minister, Mr. Jyoti Basu, and CPM general secretary, Mr. Harkishen Singh Surjeet, had with Mr Kesri only last night.
Pond’s pays 200% total dividend
The board of directors of Pond’s (India) Ltd recommended a final dividend of Rs. 12.50 per equity share (or 125 per cent including 10 per cent Golden Jubilee dividend). This together with the interim dividend of 75 per cent declared earlier takes the total dividend to 200 per cent for the year ended December 31, 1996.
BPL in cash crunch, owes ad agencies
Is a cash crunch forcing BPL group companies to withhold advertising bills of about Rs. 40 crores due to its various agencies? Sources say the company has not cleared its bills for nearly six months, while the normal credit period extended by an advertising agency to its clients is only two months. Mr. Rajiv Chandrashekaran, Chairman and Managing Director, BPL Ltd, without denying the allegation said that “the ad agencies have been pampered by BPL. Now we have stopped pampering them.”
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