HC adjourns Rajlakshmi hearing
The Bombay high court on Wednesday adjourned hearing of public interest litigation filed by the Investor Grievances Forum (IGF) against termination of Unit Trust of India's Rajlakshmi Unit Scheme 92 to October 20. The division bench, consisting Chief Justice B P Singh and Justice S Radhakrishna, has fixed the date for hearing the PIL as he UTI has submitted its affidavit on the writ on October 9, UTI sources told The Financial Express here.

LTITL may be spun off
Larsen & Toubro Information Technology Ltd (LTITL), a wholly-owned subsidiary of the L&T group, is likely to be spun off as a separate entity by next year. While a final decision in this regard is expected to be taken only by the second quarter of the calendar year 2001, a top executive ruled out the possibility of a joint venture.

ONGC loses 100 tonne of oil a day
ONGC on Wednesday said it was losing more than 100 tonnes of oil per day from the forced shutdown of nearly two dozen wells in the southern region due to want of consumers for gas produced from these wells, according to ONGC's southern region director C P Saha said.

Govt fiat to TRAI on mobile services
The government has asked the Telecom regulator to recommend licence fees for enabling basic operators to venture into limited mobile phone services as part of the efforts to give them a level playing field vis-a-vis cellular operators. They also recommended additional entry fee or licence fee for providing limited mobility to the fixed lines service providers.

FDI to touch $5 billion
Inflow of foreign direct investment (FDI) into India is likely to touch five billion USD this calendar year. This was indicated by Mr Murasoli Maran, Union Minister of commerce and industry, while addressing a feedback session with investors from Switzerland.

State's new mill lands sale policy
Maharashtra chief minister Vilasrao Deshmukh on Wednesday announced a comprehensive policy for allowing development or disposal of lands owned by 58 textile mills in the metropolis, with adequate measures to protect workers' interests and rehabilitation.

Naik on petro price rollback
Ram Naik, Union Minister for Petroleum and Natural Gas, said in Agra on Wednesday that the prices of petroleum products hiked recently could be rolled back only when the international prices of crude oil come down to about $ 12 a barrel from $ 37 a barrel at present.

HDFC Bank, Icra stake in gasia.com
HDFC Bank and the Indian Credit Rating Agency (Icra) will pick up 5 per cent apiece in the Singapore-based company growasia.com Pte Ltd's local subsidiary - gasia.com Pte Ltd. The deal is a win-win one for all parties concerned - HDFC Bank, Icra and growasia.com.