The Financial Express -- News

Thursday, October 2 1997

CBI frames charges against Harshad Mehta in Rs 40cr fraud

The special court investigating the Rs 5,000-crore securities scandal of 1992 has approved the 34 charges levelled by the Central Bureau of Investigation (CBI) against Harshad Mehta, two employees of Maruti Udyog (MUL) and two of ANZ Grindlays and Uco Bank. The amount involved, Rs 40 crore.

LIC resents Chhabria bid to hike Mather & Platt stake via preferential issue

Life Insurance Corporation (LIC) has opposed a move by M R Chhabria to increase his stake in engineering firm Mather & Platt (India) from 40% to 51% through an issue of preferential shares. Though Chhabria managed to push through a resolution receiving approval for his move at the company's annual general meeting on Tuesday, it appears that LIC has made known its disagreement.

Reliance-L&T team enlists Bechtel's help to bag mini cybercity project

The Reliance Industries-Larsen & Toubro (L&T) consortium has enlisted the technical support of international giant Bechtel, in its bid to bag the contract for the "mini cybercity" project, at Chennai. It is also going all out to rope in Microsoft as a technical partner in the development and maintenance of this mega-project.

Eicher to invest Rs 400cr in two years on tractors, two-wheelers

Shapoorji Pallonji in talks with centre on TN power plant clearance