Friday, 4 November 2011

Supreme Court grants bail to Satyam founder Raju



NEW DELHI | Fri Nov 4, 2011 
The Supreme Court on Friday granted bail to Ramalinga Raju, founder and former chairman of outsourcing firm Satyam Computer Services Ltd, in a $1.5 billion financial fraud case, after the Central Bureau of Investigation (CBI) failed to file charges on time.



The CBI did not file a charge-sheet against Raju within the statutory period, according to a court order seen by Reuters.
According to Indian law, charge-sheet against an accused has to be filed within 90 days of arrest.
Raju, a management graduate from Ohio University who founded Satyam in 1987, shocked investors in January 2009 when he said the firm's profits had been overstated for years and assets falsified in a fraud allegedly worth more than $1.5 billion.
In November 2010, he surrendered after the Supreme Court in August cancelled a bail granted to him by a lower court in Hyderabad, where Satyam is based.
In an auction in April last year, Satyam was sold to Indian IT firm Tech Mahindra, majority-owned by automaker Mahindra & Mahindra and part-owned by British telecoms firm BT Plc.
It was subsequently renamed Mahindra Satyam.

Thursday, 3 November 2011

Anna Hazare ends 19-day-long 'maun vrat' at Rajghat

EW DELHI: Anna Hazare on Friday broke his 'vow of silence' for the past 19 days after paying tributes to Mahatma Gandhi at Rajghat
Anna Hazare ends his vow of silence at Rajghat

Anna Hazare ends his vow of silence at Rajghat
The 74-year-old Hazare visited Gandhi's memorial at around 7 am and broke his 'maun vrat', observed since Oct 16, saying 'Bharat Mata ki Jai' aloud. He had begun his 'maun vrat' at his native village in Maharashtra for 'atma shanti' (peace of soul). 

Hazare had reached Delhi on Thursday night to attend a meeting of the Standing Committee on Lokpal Bill. This will be Team Anna's second appearance before the committee and the first after Hazare undertook a 13-day fast in August demanding that the Jan Lokpal Bill be passed in the monsoon session of Parliament. 

Hazare has threatened to launch another hunger strike if the Lokpal Bill is not passed in the Winter Session of Parliament beginning later this month. 

Duqu computer hackers shift to Belgium after India raid


Hackers have been using a server in Belgium to collect data stolen from machines infected with the Duqu computer virus, after authorities shut down another rogue collection system in India, according to security experts.
Governments and security experts around the globe are working to unlock the secrets of Duqu, which some say could be the next big cyber threat after the Stuxnet virus that was believed to have infected Iran's nuclear program.
Researchers at Symantec Corp said they had identified a sample of Duqu that was configured to communicate with a specific server at Combell Group, one of Belgium's largest Web-hosting companies.
Hackers frequently use or lease servers at data centers to manage their malicious activities, without the knowledge of the data center operator. Symantec said in a report on its website on Tuesday that it had notified Combell that the server was being used for malicious activity, and that the hosting company had shut down that server.
But two employees with Combell told Reuters the server had not been shut down, saying it was running an email program that was communicating with other computers, potentially allowing hackers to retrieve data stolen from infected PCs.
Security experts with software maker F-Secure and the U.S. Cyber Consequences Unit nonprofit research institute also said the server was still running as of Thursday morning.
Combell Chief Technology Officer Benjamin Jacobs said the company was investigating the situation and would provide further information on the matter when it was available.
News of Duqu first surfaced two weeks ago after researchers at Hungary's Laboratory of Cryptography and System Security found a computer virus that contained code similar to Stuxnet. Early analysis suggested Duqu was developed by hackers to help lay the groundwork for attacks on critical infrastructure such as power plants, oil refineries and pipelines.
Indian authorities last month seized computer equipment from a data center in Mumbai, after Symantec reported that one of its servers was communicating with computers infected with Duqu.
"LOOKS FISHY"
One of Brussels-based Combell's employees, who did not want to be identified as they were not authorized to speak for the company, said on Wednesday evening that the server had been running continuously for about a week and was leased through October 27 next year.
"It looks fishy," he said, adding that somebody controlling the machine appeared to be intentionally deleting data that would log details about its communications. "It's weird. The mail log itself has almost no entries. I think they are deleting data so they don't leave traces."
John Bumgarner, chief technology officer of the U.S. Cyber Consequences Unit, also said that the server looked suspicious because it was running far fewer programs than its neighbors in the Combell data center.
He said that when the hackers moved their server from India to Belgium, they also modified the original technique used to communicate with computers infected by Duqu. This shift made it harder for companies to detect infected machines based on previous communication patterns. "
Researchers at Symantec have said they believe Duqu may have been developed by the same engineers who built Stuxnet because some of the source code in the software is the same.
Other researchers disagree, saying the hackers could have reverse engineered the code for Stuxnet.
Stuxnet is believed to have crippled centrifuges that Iran uses to enrich uranium for what the United States and some European nations have charged is a covert nuclear weapons program

Peugeot begins work on Rs 4,000 cr facility at Sanand


AHMEDABAD: Two months after sigining an agreement with Gujarat government, French car maker PSA Peugeot Citroen on Thursday initiated its India operations at Sanand by conducting a stone laying ceremony for its Rs 4,000 crore facility at the project site situated about 40 kilometers from Ahmedabad. 



The company is slated to roll out its first car from the Sanand plant in mid-2014. The 600 acre plot will produce 1.7 lakh cars in the first phase and will raise it to 3.4 lakh in 2016. The upcoming facility will also be used to manufacture gasoline engines and gear boxes.

Following the stagnancy in the Europeon market, Peugeot is banking heavily on the developing markets of India, China, Latin America and Russia, Gregoire Oliver, CEO of Asian operations told media persons after the ceremony. "Peugeot's vision of becoming a global player would remain incomplete without India," he said. The company will enter the Indian market with its model 508 in the D-segment but will gradually focus more on the C and B plus segment, which constitute 80 % of the Indian market. It claims to have fuel effluent models in India and is also working on a model suited for Indian market. The company is working closely with its suppliers for sourcing auto componants.

"Indian auto componants industry is very mature and we will have 80% of indiginisation in the initial stage and is likely to grow," said Frederic Fabre, MD of PCA Motors India. Around 20 vendors attended the ceremony. The company plans to set up a network of 160 dealers in the country by 2014.

Last month, American auto company Ford Motors began work on its second facility at Sanand which will roll-out the first car in 2014.

Infrastructure at the plant will be at par with Europe, company officials told ET. Hiring for the India operations have already begun and many officials are being given training at company's facility in France.

Later on Peugeot will also bring its hybrid (diesel and electric) vehicles to India. It has already tied up with Ford for diesel engines and with BMW for gasoline engines. Of the 600 acres, about 100 acre will be used by its vendors.

India is poised to become the third largest car market in one decade followed by the US and China. However, it is third month in succession that car sales have dipped in the country.