Saturday, September 12, 1998
IDBI offers to underwrite centre's disinvestment plan
Development financial institution IDBI has, along with a few other "select" institutions and banks, offered to underwrite the disinvestment programme of the centre for fiscal 1999. With this development, the government has three options to choose from to push through its Rs 5,000-crore disinvestment plan.
Centre likely to amend State Financial Corporations Act
The Centre is considering amending the State Financial Corporations Act, 1951, to enable state financial corporations cope with business growth, by enhancing their authorised share capital to Rs 500 crore from the present Rs 100 crore.
Khaitans all set to reverse India Foils group investments
The BM Khaitan-controlled Williamson Magor group will clean up the India Foils balance sheet through reversal of investments made by the foil-maker in group companies through intercorporate deposits and other transactions in the next 18 months. This will be a precondition to the acquisition of a controlling stake by the Aditya Birla group.
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