MMCB MD arrested
Absconding chief executive officer (CEO) and managing director of the beleaguered Madhavpura Mercantile Cooperative Bank (MMCB) Devendra Pandya, was finally arrested by a team of the economic offence cell of the state criminal investigation department from his residence in Ahmedabad.

Power ministry in no mood to place NTPC order with Bhel sans bidding
THE ministry of power is not in favour of the proposal put forth by the ministry of heavy industries and public enterprises that the National Thermal Power Corporation (NTPC) be asked to place the first few orders for its new super critical thermal sets with Bharat Heavy Electricals Limited (Bhel) on a negotiated basis.

KP, others remand extended by a week; judge raps CBI
SPECIAL judge AR Joshi of the designated court came down heavily on the Central Bureau of Investigation (CBI) on Thursday before extending the remand of the three accused — stock broker Ketan Parekh, his cousin Kartik Parekh and an official of Madhavpura Mercantile Co-operative Bank (MMCB) JB Pandya for seven days, who defrauded Bank of India (BoI) to the tune of Rs 137 crore in the now infamous pay-order scam.

PGCIL chalks out plan for smooth inter-regional power transfer
THE Power Grid Corporation of India Limited (PGCIL) has chalked out a plan to integrate all the regions through HVDC stations/bi-poles and 765 KV AC rings in a bid to help in the transfer of power between regions without any constraints.