Tuesday, September 15, 1998
IDBI seeks investigative audit of Dunlop accounts
The Industrial Development Bank of India (IDBI) has sought an investigative audit of the books of accounts of Dunlop India owned by Dubai-based NRI Manu Chhabria. IDBI has already requested the Board for Industrial and Financial Reconstruction (BIFR), which appointed the development financial institution as an operating agency for Dunlop, to appoint an audit firm for this purpose.
NTPC plans Rs 50,000 crore investments by 2007
The state-owned National Thermal Power Corporation (NTPC) has drawn up a power generation profile involving an investment of Rs 40,000 crore to Rs 50,000 crore to add 14,000mw to its generation capacity by 2007. NTPC, which has over 16,000mw capacity in different plants, envisages to become a 30,000mw plus company by the end of 2007.
Banks, FIs chalk out twin routes to IOC exposure
Life Insurance Corporation, General Insurance Corporation, Unit Trust of India and State Bank of India are opting for fund-based exposures to Indian Oil Corporation's disinvestment programme. IDBI, ICICI and IFCI have, on the other hand, opted for non-fund-based exposure by way of underwriting. These institutions are gearing up their efforts following the centre's directives to revive the local market.
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