The Financial Express -- News

Friday, December 5 1997

Lok Sabha dissolved; polls by March

President K R Narayanan on Thursday formally dissolved the Lok Sabha, paving the way for a mid-term poll. Within hours of this notification, Election Commissioner GVG Krishnamurthy announced that election to the twelfth Lok Sabha was likely to be held between the third week of February and the first week of March next year. Along with Lok Sabha polls, elections will also be held for the state assemblies of Meghalaya, Mizoram, Nagaland and Tripura.

Peugeot may face Rs 250-crore exit barrier

Automobiles Peugeot, which announced its decision to quit from PAL-Peugeot last month, may find that the costs of exit may be as high as Rs 250-300 crore. It may also be a prolonged disengagement, with dealers, unions, and vendors threatening to sue.

NTPC, BSES in race for Cochin Refineries' mega power project

The National Thermal Power Corporation (NTPC) and the BSES Kerala Ltd are among the ten contenders in the race for the Rs 1,500-crore 500-MW power plant to be set up by the Cochin Refineries Ltd (CRL). The ten companies were short-listed by the Administrative Staff College of India, Hyderabad, the independent agency which scrutinised the global tender floated by CRL. Both companies also expressed their willingness to team up with CRL to float a joint venture for setting up the power project.

Carraro ties up debt funds with IFC, Exim Bank

BZW bags Orissa state's mandate for privatising electricity