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Laloo faces charges in all 46 cases of fodder scam
Bihar Chief Minister Laloo Prasad Yadav will be charged in all the 46 cases filed in the Rs 950 crore fodder scam. So far, his name figured only in five cases related to the conspiracy angle.
Party polls revised to keep Kesri reign
The revised schedule for Congress party elections announced is a veiled warning by party president Sitaram Kesri to potential rivals not to queer the pitch for him or they could face problems in getting elected to the party's apex body, the Congress Working Committee.
Bihar blamed for ignoring Centre on crime
A Parliamentary Committee has indirectly changed the Bihar government of ignoring the Centre's advice on tackling crime in the state, particularly the menace of private armies.
Blair blare in UK
Britain's new Prime Minister Tony Blair, will go to Parliament with a historic 179 seat majority. The landslide victory for Labour is the largest since the war.
No need to re-examine Dabhol project, says SC
The controversial $1.2 billion Dabhol Power project of the Enron Power Corporation received a big boost when the Supreme Court declined to re-examine the project and its renegotiation by the Maharashtra government. The court, however, came down on the State government's changing stance on the project.
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India among top emerging markets
Hong Kong, China and Sri Lanka's emerging markets outperformed others in April, with India following closely with 12.3%. Among developed markets, Spain remained on the top with 8.9%, with US by 6.4% and Japan by 6.2% sharing the top slots. The Phillipines market was the worst performer in the world.
SLR for NBFCs cut to 10%
The Reserve Bank of India has slashed the statutory liquidity ratio (SLR) requirements for non-banking finance companies to 10% from 12.5%. The move is expected to release about Rs 250 crore into the system. The banks have also been directed to maintain SLR requirements on a quarterly basis instead of maintainig it on a daily basis.
CLB orders Shaw Wallace AGM postponement
The Company Law Board ordered the postponement of Shaw Wallace & Company's annual general meeting (AGM) scheduled for May 14, based on the petition filed by the company's employees' federation. The board directed the company to conduct the AGM after the presentation of the audited accounts for the year ending March 31, 1996.
SC kicks off examination into state stand on Dabhol
The Supreme Court initiated an examination in public interest into the shifting stand of the Maharashtra government in first cancelling, then "renegotiating" and expanding the $35,000-million Dabhol power project by the US Enron Corporation. The court dismissed a plea for looking into the validity of the sigle-largest foreign investment project in India.
Commitments pour in for 14.5% SAIL bonds
Putting all speculations to rest, Steel Authority of India's Rs 300-crore (additional greenshoe option of Rs 467 crore) private placement of bonds opens for subscription on May 5. The coupon rate has been pegged at 14.5% payable semi-annually, with commitments from investor already pouring in even before the issue has opened.
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