FII net investment crosses $10 billion
Cumulative investments made by FIIs in the domestic capital market since December 1992 crossed the $10-billion mark. According to FII investment figures released by the Sebi, cumulative net investment on Thursday stands at $10.013 billion. Net investment so far this year amounts to $1,363.4 million.

Legislations for computer crimes
The Government is set to bring in legislations enabling electronic transactions and communication, and amend the Indian Penal Code to take cognizance of crimes committed over computer networks.

Court refuses to issue diktat on DoT
The Delhi High Court on Thursday declined to issue any direction to Trai regarding disposal of cases in the dispute over invoking bank guarantees by DoT against private operators for "defaulting" in payments under the previous licence fee regime.

Essar Power selloff deadline
Ruias have extended the deadline for selling its 100 per cent stake in Essar Power to Marathon by 200 days. The deadline for striking the deal, which was to expire on Thursday, will now be June 27, 2000. The agreement with the US company is subject to certain conditions which are yet to be met.

HFCL board okays equity offering
The board of HFCL has approved fresh issue of up to 15 million equity shares to foreign funds/companies on a private placement basis. The company board has called for an extraordinary general meeting on January 5, 2000, to obtain clearance from its shareholders.

CBI case against Balco ex-CMD
CBI has registered a case against three senior officials, including former chairman and managing director Balco and a Mumbai-based private firm for allegedly cheating the company to the tune of crores of rupees.

Notice on TV firms for Fera violations
The Delhi High Court has issued a notice to the Centre on a petition seeking investigation against some TV companies for alleged Fera violations. The notices were also issued to the CBDT, RBI and ED by a division bench comprising chief justice SN Variava and justice SK Mahajan on Tuesday. All the respondets were asked to file replies by January 24.

Sensex gains 40 points
Equities recovered a major part of their overnight losses on the Bombay Stock Exchange on Thursday due to fresh purchases by FIIs and local funds. The sensitive index resumed at 4796.80, moved in a range of 4849.96 and 4839.16 before closing at 4839.16 as against Wednesday's close of 4799.22.

IBA, bank officers sign wage pact
IBA has succeeded in breaking the United Forum of Bank Unions (UFBU) and managed to seal the seventh bipartite wage settlement with 2.5-lakh bank officers on Thursday even as staff unions are fighting it out with the management body.

Memani on IMF panel
The IMF has appointed KN Memani as a member on its External Audit Committee. Memani is the chariman of Ernst & Young India and country managing partner of SR Baltiboi and Co.

Compiled by Mukund Sharma