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Sonia song by Kesri, Pawar
Congressmen predictably returned to the dynastic fold yesterday after initial sabre-rattling. Congress chief Sitaram Kesri and Sharad Pawar, went back to former Prime Minister Rajiv Gandhi's widow, Sonia, as their only salvation to avoiding a clash in elections to India's oldest party post.
CRB liabilities may exceed assets by Rs 400-600 cr
While admitting that the total liabilities of CRB Capital Markets could well be in the region of Rs 800 crore, senior finance ministry officals indicated that neither of the two regulators, RBI or SEBI, would be held responsible as part of the problem lay in grey areas in the law.
SEBI to segregate merchant banking
The Securities and Exchange Board of India plans to ban merchant bankers from doing other business. This means finance companies which are currently doing merchant banking business will have to set up new companies only for the merchant banking business.
Laloo moves in to ensure poll victory
A Belligerent Janata Dal president, Laloo Prasad Yadav, has served a show-cause notice on the party's Returning Officer P K Samantray for his refusal to accept Laloo's suggestion to rectify the alleged irregularities in the membership of the electoral college.
Split at party's national level doesn't affect state unit
The Punjab and Haryana High Court has ruled that a legislature party is only a wing of a political party, and there can be no split within the former unless there is one at the party's national or state level.
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ONGC, Oil India disinvestment only after APM goes
The Disinvestment Commission has deferred a decision on the dilution of government equity in ONGC and Oil India Limited. It has suggested that the divestment should be preceded by an announcement on dismantling the administered price mechanism.
Reliance plans another Rs 5,000-cr petro complex in Jamnagar
Reliance Industries Ltd plans to develop Jamnagar in Gujarat as its next growth centre. The plans are well underway to invest approximately Rs 5,000 crore to create another petrochemical complex on the lines of its Hazira complex.
30,000 unregistered NBFCs under RBI net
The Union finance ministry has set July 8 as the deadline for the 30,000-odd non banking financial companies to register themselves with the Reserve Bank of India.
Madras HC stays intended SEBI decision against NEPC
The Madras high court has passed an ex-parte order staying Securities and Exchange Board of India's intended decision debarring the NEPC group from tapping the capital market for a period of five years, and also of criminally prosecuting the promoters.
JK Industries takes over Vikrant Tyres
JK Industries Ltd has taken over Vikrant Tyres Ltd. JK Industries managing director, R P Singhania, said the Vikrant plant in Karnataka will provide JK Tyre tremendous advantage of strategic location across the country in serving the market.
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