Quicktakes

Rupee tumbles to a new low value
MUMBAI: Even as the stock markets staged a recovery, the Indian rupee plunged against the US dollar to hit an all-time low of 40.77 on Thursday as nervousness gripped the foreign exchange market over reports of fresh sanctions being imposed against India. The spot rupee, which remained unchanged for two consecutive days after the nuclear tests, fell by 99 paise to reach 40.77 before recovering to 40.55 at the close. Sensex, on the other hand, recovered by 115 points thanks to buying by FIIs, domestic institutions and speculators. The index had fallen by 239 points in the last two days.

Securities scam
NEW DELHI: The Supreme Court today paved the way for quick prosecution or adjudication of claims before the custodian of the special court trying the 1991 securities scam when it dismissed challenges by former broker Harshad Mehta to the constitutional validity of the Special Court Act 1992 for trial of offenders in security transactions. The court heldthat proceeds from which distribution would be made to claimants under section 112 of the Act could only be proceeds in relation to the right, title and interest of the notified person in that property.

Farmer8217;s suicide
KARAD: A farmer from Kale village in Karad taluka committed suicide by hanging himself after he realised that he was unable to repay his loans. Shankar Baburao Jujar had reportedly borrowed from a local credit society, a bank and private money lenders to finance farming operations. Bad weather resulted in an unsatisfactory crop, and the frustrated youth ended his life when he found no way to repay the loans. The police have however registered his death as accidental.

Veerappan8217;s offer
CHENNAI: Elusive sandalwood smuggler Veerappan has again offered to surrender before the joint commander of the Special Task Force, P Kalimuthu, on only one condition 8212; the transfer of all cases pending against him in Karnataka to Tamil Nadu. In a cassette sent to A S Mani, editor ofTamil magazine Netrikkan, Veerappan said he would not insist on granting of general amnesty or that he be kept in a special prison for two years after his surrender.