The Hindu Business Line : Saturday, June 01, 2002

Mahajan warns VSNL of tough legal action
THE Union Communications Minister, Mr. Pramod Mahajan, has asked Videsh Sanchar Nigam Ltd. (VSNL) to revoke its decision to invest Rs 1,200 crore in Tata Teleservices Ltd., failing which he would resort to "every legal measure'' possible to block ... More

Investment over 48 months: Tatas
The Tatas on Friday clarified that the investment of up to Rs 1,200 crore by VSNL in Tata Teleservices "is to be made over a 48-month period (and not immediately), under the supervision of a board committee to which the goverment nominee, Mr. ... More

IRDA steps in to end stand-off on motor tariff portfolio
UNDER intense pressure from the transport industry, the Insurance Regulatory and Development Authority (IRDA) has stepped in to restore order in the motor insurance business. In a fresh circular, IRDA has directed the insurance companies to end ... More

Court quashes CBDT order on tax relief to Mauritius FIIs
IN a major setback for the Finance Ministry, the Delhi High Court today quashed the controversial circular issued by the Central Board of Direct Taxes two years ago exempting Mauritius-based Foreign Institutional Investors (FIIs) from paying tax ... More

Why should PSUs hold huge reserves: Shourie
THE Disinvestment Minister, Mr Arun Shourie, on Friday expressed his surprise over the huge accumulation of cash reserves in PSUs without having them deployed in profitable ventures in a fast-changing global technology. "The accumulation of ... More

FIPB wants RBI to probe four cos under FEMA
THE Foreign Investment Promotion Board (FIPB) has ordered investigations into four cases of possible violations of the Foreign Exchange Management Act (FEMA). The FIPB has directed the Secretariat for Industrial Assistance (SIA) to take up the ... More

We've enough petro product reserves: Naik
IN the backdrop of the threat of a war in the sub-continent, the Petroleum Minister, Mr Ram Naik, on Friday said that there were enough petro product supplies to face any eventuality. Addressing a seminar organised on oil security by the Tata ... More

ITC cans gourmet desserts
ITC Foods, a division of ITC Ltd, is all set to introduce ready-to-serve desserts, including vermicelli-based payasam (sevian) and khubani ka meetha (an apricot-based sweet), in 450-g cans, promising shelf life of up to 12 ... More

Bhagwati deputed to World Bank
DR JAIMINI Bhagwati, Joint Secretary, Capital Markets and External Commercial Borrowings (CM & ECB) division in the Finance Ministry, is set to head the Market Risk Group in the Corporate Finance Department of the World Bank. According to ... More

Sinha cancels visit to US
THE simmering tension on the Indo-Pak border has forced the Finance Minister, Mr Yashwant Sinha, to cancel his visit to Stanford University in the US. Mr Sinha's presence here is warranted as he is a member of the Cabinet Committee on ... More

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