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Corporate Economy Expressions Markets Leisure 14 February 1998   ICI may park Choksey stake with local arm ICI Plc is examining the option of picking up Atul Choksey's 9.1% stake in Asian Paints through ICI India, its 51% owned Indian subsidiary. To accomplish this, ICI India will have to get permission of Department of Company Affairs (DCA) for investment above a stipulated maximum limit of 30% of its equity and free reserves.   Reliance Industries may list bonus shares by next week The bonus shares of Reliance Industries are expected to be listed by the middle of next week. A decision to this effect was taken at a meeting between the company representatives and top BSE officials on February 12. Tata-IBM expects six-fold increase in turnover to $1 billion by 2000 Tata-IBM expects a six-fold increase in turnover to about $1 billion by the year 2000. The company's present turnover is Rs 632 crore. Tata-IBM has maintained an annual growth rate of over 100% during the past few years. The company expects much of the growth to be be fuelled by E-business. Bishnauth Tea set to merge two NBFC subsidiaries with self Bishnauth Tea of the BM Khaitan-controlled Williamson Magor group has decided to merge two of its subsidiaries with itself. The restructuring plan is expected to be approved at the company's board meeting being held next week. The company is merging subsidiaries Rupajuli Tea Company (India) Ltd and Niagara Investment Company with itself.   Builder dupes IndusInd Bank of Rs 18 crore through overdraft A Rs 18-crore scam has been unearthed in the private-sector IndusInd Bank. The scam, detected at the bank's Ahmedabad branch, is likely to hit its profitability. The scam entails amounts withdrawn from the branch office at Ahmedabad through an "overdraft against uncleared effects". The amount would have to be provided for in the 1997-98 balance sheet. LC Gupta committee members upset over delay in finalising report The members of the LC Gupta committee on introduction of derivatives trading in the country, including its chairman, are miffed with the delay in the finalisation of the report. The chairman of the committee, LC Gupta, wrote a hard-hitting letter to the committee members just before submitting the first part of the report saying that the report has been considerably delayed and that if any member has any dissent on the recommendations so far, he should indicate the same.   CORPORATE Lever combine ad-spend to top Rs 500 cr ICICI to seek infotech advice on treasury recast ECONOMY European Commission to disburse Rs 18 crore to aid small firms in Asia Poor service seen crippling banks EXPRESSIONS Who needs the IMF? Sooner the better MARKETS Sebi, RBI nominees may block Damani bid for extension HLL tightens Sensex grip, dwarfs other giants LEISURE Philatelic tributes to the icons of our heritage AIR revises norms for allotment of private time-slots on FM alt="Bottom banner spot" border="0">