The Financial Express -- News

Sunday, November 9 1997

AAI identifies twelve domestic airports for upgradation

The Airports Authority of India (AAI) has identified 12 important domestic airports to be developed as model airports. The criteria for selection of the model airports would be their traffic potential, importance of the city they are in, tourist potential and due coverage of all the regions in the country.

CBDT to crack down on deliberate evasion of taxes

The Central Board of Direct Taxes (CBDT) is gearing up to prosecute persons who have been deliberately trying to avoid paying taxes in a planned and schemed manner. The income tax department which has so far used its prosecution powers sparingly now plans step up prosecutions against defaulters from January 1 next year.

HLL drills cavity in Colgate-Palmolive sales

The market share of the leading toothpaste brand of Colgate-Palmolive (India), Colgate Dental Cream (CDC), has dwindled by 8% in September, 1997, to 41.9% from 49.8% in the second quarter of 1997. This has come to light in connection with the MRTPC case over the disputed HLL's New Pepsodent advertisement which claimed a "102% anti-bacterial superiority" over the leading toothpaste.

IndusInd Bank may set up investment banking arm

Jain commission interim report indicts FM, ex-prime minister