HM to pay Rs 43 crore for General Motors' preference share issue
Hindustan Motors is buying Rs 43 crore worth preference shares of General Motors India (GMI) as part of the deal involving the sale of its 50 per cent equity holding to General Motors Corp. It is understood that the US-based auto giant is buying HM's 50 per cent equity stake at par by shelling out Rs 65 crore.

Banks, institutions on offensive, mull management coup against errant firms
Banks and financial institutions are launching an "operation clean up" by converting institutional debt into equity in "erring" companies and eventually taking over the management.

MTNL to set up subsidiary for Internet services
Mahanagar Telephone Nigam Ltd has decided to set up a full-fledged subsidiary for managing its Internet services in Delhi and Mumbai. The company is also exploring possibilities of taking on a strategic partner for providing certain inputs, MTNL chairman & managing director S Rajagopalan said.

CORPORATE
Telco seeks nod from Maharashtra on auto retail price concept
Hallmark launch awaits green signal from Centre for decoders' import

ECONOMY
RBI draws up draft norms for interest rate swaps
FIs back out from funding basic services

EXPRESSIONS
Conflicting signals
An innovative idea

MARKETS
NSDL, NSE link internet sites for operational synergy
Call rates may decline on better liquidity

LEISURE
Running Flame burns out, Saddle Up wins derby
Customer service is key to internet proliferation