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Politics Business Expressions General Sports Leisure States 07 March 1998   ICL to move MoF on Raasi The promoters of India Cements have rushed to New Delhi to rope in the support of the finance ministry officials for their takeover bid on the Secunderabad-based Raasi Cements. On the other hand, Raasi Cements has started sending feelers to a Mumbai-based cement giant to rescue them by entering the scene as a white knight.   Sterlite keeps away from Indal panel The Sterlite management has chosen not to appear before the committee of independent directors set up by the board of Indian Aluminium (Indal) on Thursday as had been requested by an Indal non-executive directors' committee. The panel will now recommend a line of action to the Indal board of directors. MoF demands Rs 25 cr from food ministry The finance ministry has pulled up the Food Ministry directing it to repay Rs 25 crore paid by the finance ministry to the sugar industry on account of central excise duty reimbursements. Sugar mills had earlier dragged the food ministry to court over the matter. Ministry plans sop for manufacturing exporters The commerce ministry proposes to allow manufacturing exporters to furnish legal undertakings against the value of the export instead of bank guarantees. The move is expected to improve the liquidity position of exporters and reduce operating costs for the manufacturer.   BSE decides to abandon sunshine segment The Bombay Stock Exchange (BSE) has decided to abandon its sunshine segment - which caters exclusively to institutional transactions - with effect from March 25. A decision to this effect was taken by the exchange on March 4. Saurashtra Cements, Samtel downgraded The Credit Rating Information Services of India Ltd has downgraded the Rs 58.15 crore non-convertible debenture (NCD) of Saurashtra Cements Ltd from `BBB' to `BB', indicating inadequate safety. The revision is mainly due to the oversupply situation in the company's primary marketing region.     Bizbits   Auto sales slump further   Pivotals remain subdued   CAB lowers cotton crop estimates   Sebi bans two firms