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The Mint Report for 22 February 2011

The Mint Report for 22 February 2011
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First Published: Tue, Feb 22 2011. 11 25 PM IST
Updated: Tue, Feb 22 2011. 11 25 PM IST
The UPA government has finally given in to demands for a joint parliamentary committee to investigate the 2G spectrum scandal. On Tuesday, Prime Minister Manmohan Singh said his government had agreed to the probe so Parliament would function during the budget session. Leader of the opposition, Sushma Swaraj, welcomed the announcement, calling it a victory for democracy. Opposition parties had blocked normal operations in Parliament during the winter session because the government wasn’t giving in to its demand for the probe.
It’s a verdict that could create more political fissures. A special court in Ahmedabad has convicted 31 people in the Godhra train burning case. It also acquitted 63 others, including the prime accused, Maulvi Umarji. The court will sentence the guilty on Friday.
The accused were charged with criminal conspiracy and murder for burning a train coach in Godhra in 2002. The ensuing fire killed 59 Hindu activists and set off riots that killed at least 1,200 people.
In corporate, Ranbaxy Laboratories has reported its earnings for 2010. Its profit after tax stood at Rs1, 497 crore compared to just Rs297 crore the previous year. And total income rose 17% to Rs9,381 crore. Meanwhile, Ranbaxy’s board announced a dividend of Rs2 per share.
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First Published: Tue, Feb 22 2011. 11 25 PM IST