The Indian Express -- Business

Saturday, May 17 1997

FOREX RATES INDICES STOCK

RBI ultimatum for CRB status report

The Reserve Bank of India has issued an ultimatum to the beleaguered CRB Capital Markets to submit a status report to the RBI with a detailed plan for repayment of deposits within three days. The central bank has warned the company that "drastic" action will be taken if it fails to submit the report.

New sick bill to revamp BIFR

The government has introduced the Sick Industrial Companies (Special Provisions) Bill 1997 seeking to revamp the Board for Industrial and Financial Reconstruction and also change the definition of sickness. As per the Bill, a company will be treated as sick if it fails to honour debt commitments for four quarters in two years.

Polysindo threatens to withdraw from B&C

The Polysindo group is threatening to move out of the ailing engineering company, Best & Crompton, because of the company workers' refusal to accept the voluntary retirement scheme of Rs 1.4 lakh proposed by the group. Representatives of the Polysindo group are now planning to give an affidavit to the court expressing their willingness to take over the company.

Enhance trade: Nepalese PM

Select scrips move up

Cotton price rise causes concern

BIZBITS -- Ion Exchange

Bond volumes spurt

Foreign equity in Delphi to rise

No JV for gold

MoF commits recap funds for UCO Bank

Income Tax Bill this winter session

NBFCs blink as CRB sinks

Poor show by VST Industries

SEBI fiat draws flak