Hearing on SEBI-HLL wrangle: The appellate authority of the finance ministry on Tuesday heard out an appeal by officials of Hindustan Lever against SEBI's indictment of the company over alleged charges of insider-trading. Finance secretary MS Ahluwalia and special secretary, banking, CM Vasudev sat through a marathon five-hour hearing during which Lever officials put forth their case. The authority has now called a seven-hour hearing session on Saturday during which SEBI and Unit Trust of India will articulate their points of view.

NIIT plans on track: Computer software and education firm NIIT says its plans for expansion in turmoil-ridden south-east Asiaare on course. Vice-chairman Rajendra Pawar says the firm has earned for itself the prestigious multimedia super corridor status in Malaysia. The Malaysian government has now shortlisted NIIT for its smart-schools project.

ICRA caution on funds: Credit-rating firm ICRA has advised the Centre against funding a chunk of its deficit through loans from multilateral donor agencies. The firm says that the government will do better to raise funds through less-volatile channels like foreign direct and institutional investment as also through external borrowings at a time when the country's risk perception is none too encouraging.

AIRBEA plea on panel advice: The Calcutta-headquartered All-India Reserve Bank Employees' Association has called for a nationwide debate and consensus on the second Narasimham committee recommendations. The association has warned the central bank against plunging headlong with the implementation of the report lest there should be chaos and unrest in the country's financialsegment.

Arvind Mills denies rumours: Textile-maker Arvind Mills has denied rumours that its promoters plan to step up their stake in the company. Chief financial officer Jayesh Shah said on Tuesday that the rumours were "totally unfounded and baseless". The Arvind scrip has been on the rise in the market on the back of rumours that the Lalbhais were planning to make an open offer to the shareholders of the company.

COAI seeks freeze on licence fee: An influential industrial body has urged the Centre to exempt cellular operators from having to pay their licence fee for at least two years. Cellular Operators Association of India spokesman and AT&T managing director Virat Bhatia says an exemption will come as breather for an industry that has been smothered by the all-round industrial slowdown. The association has also called for a reduction in import duty on handsets from 53 per cent to 20 per cent.

Delhi voices concern at G-15 meet: Vice-president Krishan Kant has urged the powerG-15 member nations to put in place a strategy to protect the economic interests of developing countries. Addressing a three-day summit of world leaders at Cairo, Kant said that Delhi stoutly opposed the unilaterally-imposed trade barriers by the developed nations.