SEBI the regulator said today that it would soon become a political declaration on space sales of shares.

“You will soon be a political declaration (in publishing),” SEBI chairman M Damodaran told journalists after the opening for a week Independent Directors’ programme for senior officers of the armed forces, organized by the Management Development Institute.

Damodaran, but refused to publish, if such a declaration may be sales to institutional investors or not.

He said, unless all issues related to short-sellig are recipients of a decision may not be known. All those involved in the case, be consulted Damodaran added.

Short Selling - Sale of shares, without having to hold or sell, we have borrowed shares - is currently for private investors.

The issue of authorization to sell to institutional investors is short in relation to the loan program and reserve borrowing.

The credit portfolio and borrowing programme has been fashionable for institutional investors in 1997, FERA, which was replaced with FEMA, in the years 1999-2000. Now the question is whether the proposed credit and loan for the program could foreign institutional investors as part of FEMA.

A new regulation for the allocation of loans and loans on stocks, bonds, stock markets after a huge volatility in May.

Former confrontation with senior officers of armed forces who had come for prgoramme, “said Damodaran companies decide their remuneration corresponding to the independence of directors. If only provides assistance to the meetings of independent directors, people would not be feared.

On the other hand, if too much compensation, director independence are at stake, he added.

It is for companies to decide, to an allowance for independent directors, SEBI chairman said.

On the question whether cases of delisting a company to where it would not be satisfied with clause 49 of the listing agreement, he said: “Not my knowledge.” Defending the numerical strength of the independent directrors in Chapter 49, said he thought was to adapt, if at least 50 percent of the total members of the committee as an independent as well in case the President and CEO of the company is the same person

India has opted for capital account convertibility sooner than later, Securities and Exchange Board of India chairman M Damodaran said.

Economist Stiglitz, Nobel laureate 2001, on a tour of India, the country has warned against all convertiblity to say, it could lead to instability.

But Mr. Damodaran said: “It is a matter of proof that India is the financial system is strong, and showing that we do not have a banana republic, which are not against storms, which can be taken to and from ”

He spoke in Chennai on Friday to Samanvay 2007, management fees annual Festival of IIT Madras’ Department of Management Studies.

He said that India was the financial sector is more than ever, although some concerns regarding the sector of real, as regards the security of energy supply, food security and the deficit revenues. “Once they are recipients of this decision, and I think they are increasingly caught in the attack, the financial sector is as strong as it should,” he said.

Professor Stiglitz, “said Damodaran, was the recommendation of India something that do not work, it would be in his own country. “I do not buy such arguments,” he said.

Professor Stiglitz spoke in another function in Chennai said Thursday the account convertibility of short-term capital has the means to leave a country may at any time. What it is important to foreign direct investment (FDI), he said stressing that China has made huge investments without direct foreign capital account convertibility.

In response to a question on China and India, “said Damodaran China was still in India, as regards foreign direct investment and physical infrastructure, but behind India in the development of capital markets. China rules are rudimentary, “he said.

At the same time, “said Damodaran sector could have a real impact of the financial sector. These issues include security of energy supply, food security and the shortfall in revenue. He said fiscal deficit was not a major concern, even if the finance minister decides to press the pause button in this budget. In the same way, the stability of exchange was an important concern, but not now, “he added.

Arts & Science College is organising a ten-day Camp Rayagoundanur NSS, Vazhukuparai and Arisipalayam villages from 7 to 17 August.

More than 100 volunteers have participated NSS. In addition, campaigns on the need to avoid the use of plastics.

Abolition of child labour and aids awareness programmes were also carried out in different parts of these villages.

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The Department of Mathematics of Kovai Kalaimagal College of Arts and Science was inaugurated recently.

N. Seshadri, head of the department of mathematics at the University devoted CBM.

He spoke on the theme “Mathematics in science and technology”. The Division is also organising a bridge in mathematics courses for all first year Undergraduate students on 1 August and 2

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G.R. Damodaran Academy of Management is organizing a workshop on “Skill Sets operandi of the economy teaching excellence.” David S. Jawahar, Associate Professor, Bharathidasan Institute of Management, Tiruchy, the resource person.

The meeting also took psychological tests, role playing and other interactive activities.

The four sessions of the programme were my analysis, the recruitment target of Creative, the drama and confidence.

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A campaign for the licensing of students “took place in Sri Ramalinga Sowdambigai College of Science and Commerce recently. Officers of the Regional Transport Office, Coimbatore (South), the first tests and issued 306 certificates of learners students

Dec. 22 - CHENNAI, India - The exchange ratio for the merger of IDBI and IDBI Bank to be decided at the beginning of January, IDBI Chairman and Managing Director M Damodaran said here Tuesday.

Mr. CMD Damodaran said that the merger was probably easier when he was in charge of the ICICI-ICICI Bank, because IDBI had converted into a bank. “A merger between the two banks to go by the RBI. IDBI If a term has been a financial institution, the merger would have had to go through two high courts,” he said.

Commenting on Ting assets Gestressten the Stabilization Fund (SASF), “said Damodaran benefits for IDBI would be an amount of Rs 750 crore, the fact that the amount would be if the provisions for bad loans remained in its books.

In addition to the assets were transferred, without loss of IDBI, he said. “In the reconstruction of the asset deal, if you are lucky, you will receive 20 cents per dollar. In this case, we have a 100 rupee a later date,” he said.

According to the government’s bailout scheme SASF, a goal of the company, took IDBI loans worth Rs 9000 crore in exchange for the central government bonds without interest.

Mr. Damodaran was in the city from the Presidency on the GL Mehta Memorial Lecture organized by the Institute of Financial Management and Research. Meghnad Desai, Professor of Economics, London School of Economics, provided at the conference.

Mr. Desai, said of globalization has benefited more than Asia to the United States and Western European countries. The United States has reacted to the removal of the capital, designed for the United Nations Development, a liberal immigration policy.

Western European countries, except the United Kingdom, were more reticent with regard to immigrant workers, to the detriment of economic growth. Asia, he said, would have been a liberal immigration policy.

The issue of employment, diet, Mr. Desai said that it is a bad idea. Emphasis should be placed on the generation of employment arising from the investment in infrastructure, instead of secure jobs, he added.

Chennai, Dec. 21 - IDBI is avoided, Rs 750 crore of provisions due to a transfer of Rs 9,000 crore-odd non-performing Assets (NPAs) to the property Gestressten-stabilization fund, which IDBI chairman and chief executive officer, Mr. Damodaran, said on Monday, Business Line.

In an informal chat on the sidelines of a conference organised by the Institute for Financial Management and Research (IFMR), Mr. Damodaran explained the ins and outs of the “unique” model for the management of NPAs.

Under the proposed regulation, Rs 9000 crore of NPAs shall comprise books IDBI, in the stabilization Gestresste Assets Fund. IDBI get, in return, in 20 years, without interest, the amount in value of the bonds. The loans are repaid once the non-performing loans are void.

Mr. Damodaran pointed out that nowhere in the world has a sale of loans instead of the full value of the loan. IDBI has 100 rupee in the future. ”

He said that the exchange ratio for the merger of IDBI and IDBI Bank would be tried next month.

Given that this is a merger of two banks (IDBI now become bank), it is not necessary to the High Court order of approval, Mr. Damodaran took note