IDBI files wind-up cases against 13 firms
Going tough on its non-performing assets, the Industrial Development Bank of India (IDBI) has filed winding up cases against 13 big and middle-level corporates for recovering its principal amount of around Rs 12,783 crore during last two years. IDBI has also worked out compromise settlement with 75 companies during 1999-2000, which is almost double than the number of settlements during 1998-99. Govt changes mind on CAS
Even as the Conditional Access System (CAS) for pay TV channels was to be introduced without going to Parliament, the government seems to have changed its mind now. The information and broadcasting (I&B) minister Sushma Swaraj in New Delhi on Sunday that the conditional access proposal would be taken up in the Parliament session beginning Monday, thereby suggesting that an amendment to the Cable Act is necessary to introduce the CAS.
Joshi changes stand on MUL selloff
Minister for Heavy Industries and Public enterprises Manohar Joshi, who had earlier expressed reservations on the issue of divestment in Maruti, has hinted that he would co-operate in the company's divestment. He said that there would be "no difficulty" in selling the government equity in Maruti.
SAIL puts off Salem plant divestment
SAIL has postponed the divestment of Salem Steel Plant to the next fiscal. Sail has also extended the last date of submitting price bids for the proposed divestment of Bhilai oxygen plant to December 15.
Enron to invite global bids
Energy major Enron Oil and Gas India Ltd will invite global competitive bids for the sale of its 30 per cent stake in Panna, Mukta and Tapti oil fields in April 2001. ``Enron has appointed Credit Suisse First Boston as consultants to derive current value of its stake in the joint venture,'' industry sources said in Mumbai on Sunday.
2 more bid for Pennar Aluminium
The race for gaining control of the 45,000-tonne per annum Hyderabad-based Pennar Aluminium Company is hotting up with Vatsa Corporation and Raviraj Foils throwing their hats in the ring. The earlier bids were put in by Hindalco and Sterlite Industries.
New fertiliser policy soon
Fertiliser and Chemical Minister Sukhdev Singh Dhindsa on Sunday said that he would soon come out with a `farmer-friendly' fertiliser policy after consultation with the states. "I am studying the draft fertiliser policy now and will soon write to state governments for their suggestions," Mr Dhindsa said in New Delhi.
Inflation up by 0.35%
Continuing its upward trend, the annual inflation rate increased by 0.35 percentage points to 7.27 per cent for the week ended November 4, due to the rise in fuel prices. The point-to-point inflation rate based on the Wholesale Price Index (WPI) for all commodities rose from the previous week's level of 6.92 per cent and 3.23 per cent a year ago. The WPI was up 0.1 per cent to 157.9 from the previous week's figure of 157.7 and 147.2 a year ago.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.