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Unfinished power projects for privatisation
The Union cabinet has decided to hand over all incomplete public sector projects, in which 30% of the total allocated funds have already been spent and 80% of the gestation period is over, to the private or the joint sector. The more unviable of these projects should be axed.
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Yash Birla to acquire RMIL
The Yash Birla group of companies is proposing to take control of the loss making Rathi Mercantile Industries (RMIL). An open offer to the public shareholders of these companies has been made by Kashi Prasad Chokhani, Asian Distributors, Birla International Private Ltd, Birla Bombay Private Ltd and Godavri Corporation - all promoted by the Yash Birla group.
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MTNL changes tack in cellular entry case
Mahanagar Telephone Nigam Ltd (MTNL) has decided to change its tactics in fighting the case challenging the corporation's entry in the field of cellular telephony. MTNL has decided to engage a battery of top lawyers in the country to fight its case scheduled for its next hearing on February 11.
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AI plans debt restructuring, VRS
National carrier, Air India (AI) has devised an elaborate strategy to avoid a debt trap by replacing the short-term working capital loans with cheap long term loans. The airline is also toying with the idea of launching an "attractive" VRS in the near future.
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