The Financial Express -- News

Wednesday, August 13 1997

SEC would have reacted as Sebi did in Lever case

The US Securities and Exchange Commission (SEC) would certainly react in a similar vein as the Securities and Exchange Board of India (SEBI). The fact remains that the HLL directors knew of the forthcoming merger with BBLIL and, based on that material, non-public information, they engaged in the block purchase of the latter's shares.

RBI approval to aid Kirloskar Cummins change of name

The Reserve Bank of India (RBI) clearance for the US-based Cummins Engine Company Inc's application to hike the latter's stake by 1% in Kirloskar Cummins Ltd (KCL) to 51% has paved the way for the change of name of the domestic company and for the Kirloskar group directors on the KCL board to step down.

IDBI net spurts 38% to Rs 327 cr in first four month

The Industrial Development of Bank of India (IDBI) has posted a 38% rise in its net profit to Rs 327 crore in the first four months of 1997-98 compared with Rs 237 crore in the corresponding period of 1996-97. Its net profit jumped 13.6% to Rs 1,144.2 crore in 1996-97.

"Big Bull" tops RBI list of defaulters

WTO panel charges India with non-compliance with Trips commitment