Wednesday, June 23, 1999
DoT seeks further 15% fee arears by Aug 15
The department of telecom (DoT) has moved a Cabinet note which requires existing cellular and basic licence holders to make a further upfront payment of 15% of licence-fee arrears on or before August 15, impose a lock-in period of five years on the present shareholding and extend the licence period to 20 years.
ACC accepts lineage, says Tatas are promoters
The Associated Cement Companies (ACC) has put the lid on the controversy regarding its parentage by officially proclaiming the Tatas as its rightful promoter group.
IDBI trims exposure to steel, textile, cement sectors
The Industrial Development Bank of India (IDBI) has brought down its exposure to the recession-hit steel, textile and cement sectors in fiscal 1999. In a strategic shift, the term-lending institution has pushed up its exposure to sectors like petrochemicals, refineries and oil exploration.
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