Saturday, October 10, 1998
Ministry sacks nine IT tribunal members
The law ministry has terminated the services of nine members of the Income Tax Appellate Tribunal (ITAT). The termination has reportedly been effected to counter criticism that many ITAT members are drawing hefty salaries without being assigned any work.
Ministry deems Bongaigaon Refinery, Oil India merger proposal unviable
The proposed merger between Oil India and Bongaigaon Refinery and Petrohemicals (BRPL) may come a cropper as it has been found unviable by the ministry of petroleum and natural gas. A committee, headed by former BRPL chairman and managing director Bijor Barua, was set up to study the feasibility of this merger nearly a year ago.
Reliance Telecom extends closure date of debt issue
Reliance Telecom has extended the deadline for the closure of its Rs 300 crore 10-year non-convertible redeemable debenture issue which was slated to come to a close on Friday. The float is carrying an option to retain oversubscription.
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