The Financial Express -- Expressions

This page contains Editorial and Op-Ed articles

Wednesday, May 28 1997

Letters to the Editor

Ways are being found out of MAT

Hats off to Reliance Industries for its excellent financial engineering that saved the Rs 9,000-crore mega company about Rs 100 crore in corporate tax in fiscal 1996-97. Now doubts are being raised about the very effectiveness of the minimum alternate tax (MAT) with officials at the Central Board of Direct Taxes (CBDT) having once again been caught wrong-footed by more intelligent corporate fund managers and accountants.

What OTCEI really needs is forward trading

We pride ourselves on having two national stock exchanges, the NSE and the OTCEI, but both suffer from the same problem. A gross lack of liquidity.

New draft bill allows private firms to make hay

The Working Draft of the Companies Bill, 1997 has omitted the concept of private companies which are deemed public. Apparently this is to simplify the Companies Act. But this omission will effectively neutralise all restrictions on powers directors arrogate to themselves through the "private company" route.

FE -- diary

Still trailing China

Behind BPL's ADR success