IT Update
Ministry favours IBP selloff to oil majors The ministry of petroleum and natural gas is not in favour of open bidding process for divestment in IBP and instead plans to recommend the sale of govt equity in IBP to three public sector oil companies--Indian Oil, Bharat Petroleum and Hindustan Petroleum. IFCI in talks with German bank KFW to offload 20 per cent stake The Industrial Finance Corporation of India (IFCI) is in talks with leading development bank KFW of Germany to offer around 20 per cent of its equity. Mangalore Refinery bags Rs 250cr per year sales-tax sops for 14 years MRPL, the joint venture of Hindustan Petroleum Corporation and the AV Birla group of companies, has been granted a sales tax concession of up to Rs 250 crore annually for 14 years by the Karnataka government. UBI jacked up its profits by Rs 4 cr, say auditors United Bank of India has overstated its net profit figures for the year ended March 31, 2000, by Rs 3.80 crore, according to a report by its auditors. UBI had, on June 24, announced a net profit of Rs 31.36 crore. PMO, ministry differ over PSUs telecom foray The PMO and the ministry of power are at loggerheads over the issue of PSUs entering into telecom venture using their right of way across the country.
Ministry favours IBP selloff to oil majors
IFCI in talks with German bank KFW to offload 20 per cent stake
Mangalore Refinery bags Rs 250cr per year sales-tax sops for 14 years
UBI jacked up its profits by Rs 4 cr, say auditors
PMO, ministry differ over PSUs telecom foray