Singapore govt stake in Infosys crosses 5 per cent
IT companies appear to continue to find takers even in the thick of the ICE meltdown. While Infosys Technologies on Monday announced that the Government of Singapore’s holding in the company has crossed 5 per cent, the Chennai- based Sonata Software has announced the allotment of 51,52,506 equity shares to the Franklin Templeton Holding Ltd, Mauritius at a price of Rs 53.40 per share, almost over a 100 per cent premium to the current market price of Rs 25.40 on the BSE.

Petronet to sign shareholder pact with Gas de France on June 1
PETRONET LNG Ltd (PLL) will sign the shareholders agreement with the French oil and gas major - Gas de France (GDF) on June 1. GDF has agreed to pick up 10 per cent equity in Petronet LNG through its investment arm- GDF International.

Mutual Funds seek clarification on amendment to Section 14(A)
THE mutual fund industry has sought a clarification on the recent amendment to the Section 14(A) in the Budget. According to the amendment, the expenditure in relation to income, which is tax-exempted, will not be allowed.

MSEB defends its stand of not paying December bill to DPC
THE Maharashtra State Electricity Board (MSEB) has justified its decision of not paying the December bill of Rs 102 crore to the Dabhol Power Company. Simultaneously, it has stuck to its claim over the recovery of rebate (penalty) of Rs 401 crore from the DPC for the misdeclaration and default on the availability of power on January 28.

Cholamandalam, CFM head for a split
THE financial arm of the Rs 3,700 crore Murugappa Group — Cholamandalam Investment and Finance Company Ltd (CIFC) and Cazenove Fund Management Ltd (CFM), UK have mutually decided to withdraw from their joint venture Cholamandalam Cazenove AMC Ltd (CCAMC).

Congress seeks JPC probe into stock market scam
THE Congress party on Monday persisted with its demand for a joint parliamentary committee (JPC) probe into the stock market scam even as impasse continued over the Tehelka issue.