Tuesday, April 6, 1999
CRL, MRL reject Sengupta panel suggestion, prefer status quo
Cochin Refineries (CRL) and Madras Refineries (MRL) are reported to have stated that they would like to maintain their status as stand-alone refining companies and not be subsidiaries of stronger marketing allies as suggested by the Nitish Sengupta committee report.
Centre revises foreign investment norms
The Union government has decided to impose the dividend balancing condition only on incremental foreign equity in case of companies where dividend balancing was not applicable in the first instance as per the then prevalent policy.
Kelkar differs with Jalan, seeks interest rate cut
Barely two days after Reserve Bank of India governor Bimal Jalan ruled out any cut in interest rates, finance secretary Vijay Kelkar has suggested just the opposite.
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