Financial Daily
from THE HINDU group of publications

Wednesday, July 25, 2001








Page One

Disqualification from AI/IA bidding -- Slapped with DoD notice, Hindujas seek legal advice
THE Hindujas are seeking legal advice on the show-cause notice received by them from the Department of Disinvestment (DoD). The notice, which was served this evening, seeks an explanation from the Hindujas as to why they should not be barred from the dis investment process in view of the recent guidelines issued by the department for companies participating in the bidding process for Air India and Indian Airlines.

Opposition demands Sinha's resignation
THE BJP-led Government is under pressure from the principal Opposition parties, especially the Congress (I), to accept responsibility for the mismanagement of the Unit Trust of India and to remove Mr Yashwant Sinha from the Finance Minister's post.

R.H. Patil to head revived divestment panel
THE Union Government has re-constituted the public sector Disinvestment Commission and appointed Dr R.H. Patil as its Chairman.

Ashok Leyland posts Q1 loss of Rs 9.4 cr
TRUCK-MAKER Ashok Leyland has reported a net loss of Rs 9.4 crore for the first quarter ended June 30, 2001, as against a net loss of Rs 19.68 crore in the corresponding quarter of the previous year.

Tata Engg sales down; loss up at Rs 99-cr
AUTO major Tata Engineering & Locomotive Co Ltd (Tata Engineering) has ended the first quarter of 2001-2002 with a 33 per cent rise in net loss to Rs 98.90 crore as against the previous corresponding Rs 74.34 crore.

Banks are `NPAs' for landlords
THE slum-dwellers of Mumbai are not alone in facing eviction threats. Nationalised banks, which have been sitting pretty in their premises for decades, are now facing threats of eviction from the plush properties they occupy. After years of cushy comfort , it's time for them to pay, thanks to changes in the Maharashtra Rent Control Act.

Sri Lankan flights diverted to Chennai
FOUR Sri Lankan Airlines aircraft landed in Chennai airport following the closure of the Bandaranaike international airport in Colombo. One aircraft also landed at Thiruvananthapuram.

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