Tata Power keen to buy Dabhol
THE Tatas are interested in buying Enron's Dabhol power project and "informal talks are on".

V.K. Modi's son Alok may be made Modi Rubber CEO
THE Modi brothers, Dr. B.K. Modi and Mr. V.K. Modi, who are close to gaining management control of Modi Rubber Ltd (MRL) after a battle with the financial institutions, have now decided to install a family member as the new CEO of the company.

June industrial growth slips
INDIAN industry has registered a first quarter growth of 2.1 per cent during the current fiscal, providing further evidence of a slowdown engulfing the economy.

LI to fourth cell operators on Aug 13
THE Government is expected to offer letters of intent (LI) to the five successful bidder companies for the fourth cellular licence on Monday, August 13, after it received the entire Rs 1633.57 crore entry fee.

SEBI for restrictions on promotion of NBFCs
THE Securities and Exchange Board (SEBI) of India is of the view that the practice of corporates promoting a large number of non-banking finance companies (NBFCS) for investment purposes needs to be regulated.

FIs, AP ink MoA for 6 pvt power projects
A MEMORANDUM of Association (MoA) was today initialled between the financial institutions and the Andhra Pradesh State Government, thus paving the way for the financing of six private sector power projects aggregating 2,239 MW in the State.

Satyam to shut units abroad
SATYAM Computer Services has decided to close down its subsidiary, Dr Millennium Inc, as well as the three marketing outfits in Europe, Asia Pacific and Japan.

FIs hit barrier at Bellary Steels
THE move by financial institutions, led by IDBI, to induct a new management team at Bellary Steels & Alloys Ltd has hit a roadblock. A change in the management team was the key stipulation in the rescue plan for the company firmed up by the FIs in June. But that has not taken place.

SBI to rejig overseas operations
THE State Bank of India (SBI) has decided to rationalise its overseas operations.

Philips mulls sale of Kolkata facility
PHILIPS India Ltd is considering possible sale of its manufacturing facility in Kolkata.

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