Harassed stock brokers seem
to have found an ally in The Federation of Indian Chamber of
Commerce and Industry to voice their concern in the right quarters.
The recent amendment to Section
72 (A) of the Income-Tax Act, which excludes major industries
like airlines and telecom, is expected to severely impact the
consolidation process in these sectors.
Beleaguered stock
broker Ketan Parekh was arrested by the CBI on Friday evening
in a case related to the siphoning off of Rs 800 crore funds
of Madhavpura Mercantile Co-operative Bank and its transfer
to the Swiss bank accounts of the accused.
The annual plan for
Andhra Pradesh for 2001-02 has been finalised at Rs 8,378 crore
at a meeting between Planning Commission chairman KC Pant and
AP chief minister Chandrababu Naidu on Friday.
