The Hindu Business Line : Tuesday, May 14, 2002

Flex Industries imbroglio -- Opposition MPs bay for Sinha's blood
THE Finance Minister, Mr Yashwant Sinha, is under pressure again with the Opposition parties seeking his exit from the Ministry following reports that Flex Industries - now facing a CBI probe - had allegedly printed and supplied material ... More

Urban co-op banks flouting norms on board constitution
MOST urban co-operative banks (UCBs) are not following the RBI directive of having at least two professionals on boards of banks, according to Reserve Bank of India officials. After the Madhavpura scam a year ago, the RBI had directed all UCBs ... More

Varun becomes Sterlite's `advisor' -- Finolex, two others drop out of SCI race
THE Finolex group, French container line CMA-CGM and the Hong Kong-based Orient Overseas Container Line Ltd (OOCLL) have dropped out of the bidding process of Shipping Corporation of India (SCI). However, Varun Shipping Company Ltd has started ... More

Gond used wife's cos to launder kickbacks
MR Arun K. Gond, former Commissioner of Seamen's Provident Fund (SPF), used two companies registered in the name of his wife allegedly to launder kickbacks received from brokers. Investigative agency sources believe Mr Sanjay Agarwal of Home ... More

I-T benefit denied to BSNL, MTNL
THE Ministry of Finance has refused to grant infrastructure status to telecom majors Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), which would enable them to seek exemptions under Section 80IA of the Income-Tax ... More

Nocil likely to wind up unit on debt problems
BHARAT Petroleum Corporation Ltd (BPCL) has asked troubled petrochemical firm Nocil to settle its dues of over Rs 100 crore before closing down its unit. Nocil, unable to find a suitor, is finally thinking of shutting down its petrochemicals ... More

President's nod for Finance Bill
THE President, Mr K.R. Narayanan, has given his assent to the Finance Bill 2002 which was passed by Parliament last week. The assent to the Bill paves the way for incorporating all the taxation proposals - including the official amendments - ... More

Kinley to flow into 200-ml cups, at 3 bucks
COCA-COLA India is set to introduce Kinley, its bottled water brand, in 200-ml cups this season. The cups will be priced at Rs 3 each. "We intend to introduce Kinley in cups this season, beginning with Chennai and Gujarat. Subsequently, we ... More

Milk next from Coke?
NEW DELHI: COCA-COLA India could consider introducing branded milk in the Indian market two years later. "Given the company's vision of being a leading beverage company, we could bring branded milk in India from our international portfolio. ... More

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