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Haryana Finance Corporation told to refund money
The Supreme Court (SC) last week asked the Haryana Financial Corporation to refund the amount received from a buyer of a defaulting unit as it had not disclosed certain vital facts to the buyer. The corporation had forfeited the amount when the buyer withdrew from the contract of sale. The SC stated in the case, Haryana Financial Corporation vs Rajesh Gupta, that a “mere perusal of the provisions of the Transfer of Property Act will show that it was incumbent upon the corporation to disclose to the buyer about the non-existence of an independent passage to the unit. It was also the duty of the corporation to inform the buyer that the passage mentioned in the revenue record was not fit for movement of vehicles. The corporation also failed to show the buyer the entire documentation as required by law.”

Incipient signs of recovery
Business Sandard / New Delhi October 29, 2009, 0:50 IST

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Despite swine flu, multiplex biz zooms during weekend
Dispelling fears that the swine flu threat may keep people away from theatres and multiplexes during the long weekend (August 14, 15 and 16), Kaminey, the latest Bollywood release produced by UTV, is estimated to have done business of around Rs 22 crore, with multiplexes accounting for nearly 55-60 per cent of the weekend business at the domestic box office.
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Cotton export may rebound to 1.4 MT in 2009-10

Cotton exports may rebound to 1.4 million tonnes (MT) in the 2009-10 season as a recovery in the global market is expected to boost demand for the fibre, the International Cotton Advisory Committee (ICAC) has said. “Exports from India could rebound to 1.4 MT,” ICAC said in a statement. - Cotton exports may rise to 1.4 MT, says global body - India"s cotton exports decline by 55% in 2008-09 season - IRCTC plans to serve regional delicacies at railway stations - Cotton exports may triple in FY10 - Cotton exports may drop by 2mn bales: CCI - World cotton output may dip marginally in FY10 India’s cotton season runs from October to September. The current signs of recovery in the global market is likely to boost demand and cotton exports may touch the level (1.44 MT) achieved in 2007-08 season, industry experts said. Cotton exports of India, the world’s second largest producer of the fibre, had plummeted 55 per cent to 640,000 in 2008-09 season compared to 1.44 MT in the previous season due to global economic slowdown and high domestic prices. ICAC said that global trade in cotton is seen to be up by 5 per cent at 6.9 MT even as the world production is forecast to be down by one per cent at 23.1 MT in 2009-10 season. Cotton consumption is forecast to recover in the top three consuming countries, China, India and Pakistan, after a decline in the last season, it said. China is forecast to import 1.6 MT in 2009-10 season, about 8 per cent more than last season, it said, adding that Pakistan, Turkey, Bangladesh, Indonesia, Thailand, and Vietnam are also expected to import more.


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