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GE
Cap, Citicorp in race for picking strategic stake in Tata Finance |
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In a move that will alter the
landscape for fully homegrown non-banking finance companies,
GE Capital and Citicorp are seen as the front-runners to pick
up a strategic stake in Tata Finance even as the company is
to undergo a capital restructuring and complete review of its
business lines. |
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IDBI
Bank posts Q2 net profit at Rs 14.7 crore |
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IDBI Bank, the banking arm
of the Industrial Development Bank of India, has reported a
net profit of Rs 14.73 crore in the second quarter of the current
fiscal ended September 30, 2001, as compared to a net loss of
Rs 10.10 crore in the corresponding period of last fiscal. |
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Tata
Finance to take fresh look at auditors |
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Tata Finance may review its
auditors, SD Billamoria & Co, now that a full-fledged reshuffle
of the company’s board has been announced. The reshuffle has
also raised questions on the outgoing chairman of the company,
Fredie Mehta, continuing as a Tata Sons board member. |
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Tatas
to review all group firms’ subsidiaries |
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The Tata group will take a
strategic review of the functioning of the subsidiaries of all
group companies, in the light of the fiasco at Tata Finance
with regard to its erstwhile subsidiary, Niskalp Investments.
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