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CBI discord over charging Laloo
Sharp differences within the CBI and the legal department on the issue of handling of the Rs 950-crore fodder scam has led to the abnormal delay in submitting documents to the Bihar Governor seeking his sanction to prosecute Chief Minister Laloo Prasad Yadav.
Rao, 19 others charged in JMM case
The designated court holding trial in the multi-crore Jharkhand Mukti Morcha MPs bribery case yesterday framed charges of corruption and criminal conspiracy against former Prime Minister P V Narasimha Rao and 19 others. The court dismised all the three applications seeking summoning of Congress president Sitaram Kesri.
Report bemoans high unmerited subsidies
The Centre yesterday made a brave attempt by gathering support on pruning the burgeoning subsidy bill by tabling a discussion paper on the matter in Parliament. The paper estimates that around 14.5% of India's GDP is expended in the form of subsidies, both visible as well as hidden ones.
Gujral's man bows out as top guns boom in House
Newly-appointed Officer on Special Duty Bhabani Sengupta, yesterday resigned following an uproar in Parliament over his appointment. His resignation has been accepted.
Make Bofors papers public: Cong MPs
Several Congress MPs have demanded that the entire Bofors papers be made public and investigations pursued to its logical conclusion.
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RBI drops forex loan for arm, to extend Rs 1,300 cr facility
The Reserve Bank of India will extend a Rs 1,300-crore nine-year facility to its wholly-owned subsidiary Bharatiya Reserve Bank Note Mudran Ltd to set up two currency printing presses in West Bengal and Mysore and modernise two presses at Nashik and Dewas.
Firms can raise funds from public for buyback
According to the working draft of the Companies Bill, a company shall have the right to buy back its own shares or other specified securities out of its free reserves, securities premium account or the proceeds of a prior issue made specifically for the purpose of buy back.
Petro price increase likely by month-end
Prime Minister Inder Kumar Gujral is likely to put his signature to a draft cabinet note on oil price hike by the week-end. A cabinet note, recommending a 15% increase in the prices of petroleum products, is being drafted to enable the Centre to announce a hike by the month-end.
Centre likely to divest 74% in Rashtriya Chemicals
The Centre plans to offload up to 74% of its holding in Rashtriya Chemicals & Fertilizers. It holds 91% at present.
Switched Reliance shares dematerialised
Reliance Consultancy Services has informed Unit Trust of India that the 46.9 lakh switched shares cannot be returned because they may have been dematerialised. The UTI request for the return of the shares, switched at the registrar's end in 1992, had been made before the National Securities Depository was inaugurated last November.
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