Saturday, March 20, 1999
Essar on the lookout for ally as Swisscom pulls out of ventures
Essar will bring in new strategic partners in Sterling Cellular and Aircel Digilink following its joint venture partner Swisscom's decision to pull out of India. Swisscom holds 32.5% equity stake in Sterling Cellular, the joint venture with Essar group.
Sebi allows stock options at discount
To meet the long-standing demand of the infotech industry, the Securities & Exchange Board of India has allowed companies to issue stock options at a discount to the market price. The market regulator has also abolished the fixed par value of shares concept and revised the entry as well as disclosure norms for public offerings.
Centre may tag fast-track badge on projects over Rs 500 cr
The Government intends to provide "fast-track" treatment to all projects with an investment of Rs 500 crore or more. This status was earlier reserved only for power projects with a capacity of 1000 MW and above, or other projects which had investments of Rs 2000 crore or more.
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