Friday, November 6, 1998
Two more brokers move HC on Sebi fiat
Even as two more brokers - R R Mohta and S S Nangalia - filed petitions against SEBI in the Mumbai High Court yesterday, the regulatory body has justified its order debarring 18 brokers saying that the investigations have prima facie revealed manipulations in the scrips of Videocon, Sterlite Industries and BPL.
Ministry to levy cess on power generation
The Power Ministry has decided to levy cess on the power generation (and not consumption) for raising the National Power Development Fund. Earlier, in the Hydel Power Policy announced in August this year, the Ministry had announced that the cess would be levied on power consumed.
IMF to announce $30 bn bailout for Brazil
The International Monetary Fund (IMF) is close to announcing an agreement with Brazil on a $30-billion-plus loan package, backed up with cash from rich industrial nations desperate to rein in the global financial crisis, officials said on Wednesday.
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