Friday, September 25, 1998
Insurance bill passage in next session: Sinha
Finance minister Yashwant Sinha has assured foreign investors that private participation in the insurance sector would be approved by parliament in the next session and a new regime of balanced taxation would be in place by the next financial year.
CBI takes over JVG "financial irregularity" probe
The Central Bureau of Investigation is probing the role of the directors of the JVG group companies in widespread financial irregularities and investors' complaints filed in Maharashtra. The Mumbai high court recently assigned the case to the CBI.
Mittals offer ABB stake in Ispat Energy
The Mittals of the Ispat group have approached ABB Ltd, the Indian arm of the Swedish engineering multinational, for picking up a stake in Ispat Energy, the 354mw power project for supply to group flagship Ispat Industries' integrated steel project. It is learnt that ABB has not yet taken a decision on minority equity participation.
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