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Laloo sacks 4 ministers
Fears of a split in the Janata Dal heightened tonight after Bihar Chief Minister Laloo Prasad Yadav, determined not to leave the chair of the Dal president, recommended the dismissal of four of his senior Cabinet colleagues who had taken sides with his challenger Sharad Yadav.
Kesri juggernaut likely to roll on
With three days to go before the Congress presidential poll, Sitaram Kesri appears set to formalise his position as party chief going by the lukewarm response which Sharad Pawar and Rajesh Pilot have drawn so far.
Final papers on Bofors scam soon, say Swiss
A key Swiss investigator has said he expects the final set of documents, detailing bribes paid by Swedish armaments company Bofors to Indians and others into secret Swiss bank accounts, to be sent to India fairly shortly.
SEBI told to probe lapse in system
The board of Securities and Exchange Board of India (SEBI) has directed the market regulator to find whether there was any lapse in the system in view of the CRB Capital Market scam worth hundreds of crores of rupees.
Delhi HC intervenes in JD election crisis
Justice S N Kapoor of the Delhi High Court has "requested" two senior Janata Dal leaders Madhu Dandavate and S Jaipal Reddy to meet him today in a bid to find an amicable solution to the ongoing crisis over the party presidential poll.
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Three oil majors float Petronet
India's three largest oil refining companies have reached agreement to form a Rs 500-crore pipeline company called Petronet. While Indian Oil, Bharat Petroleum and Hindustan Petroleum will hold 50% of Petronet's equity between them, Infrastructure Leasing & Financial Services (IL&FS) will be offered another 10% of the equity.
Panel urges Gujral to hasten sick public sector units' reviv
The Committee on Public Undertakings (Copu) has urged Prime Minister I K Gujral to expedite the implementation of revival plans for National Textile Corporation (NTC), Hindustan Fertiliser Corporation (HFC) and Fertiliser Corporation of India (FCI) as the delay is pushing up cost estimates.
DSE chief slaps defamation notice on SEBI
The Delhi Stock Exchange president Paramjeet Singh has slapped a Rs 1-crore defamation claim against Securities and Exchange Board of India chairman D R Mehta and executive director Ashok Kacker. He has charged SEBI with maligning his prestige and image through a news report which alleged that SEBI had unearthed irregularities in transactions of Singh's firm.
CRB given banking nod despite internal note of RBI
The Reserve Bank of India had ignored the advice of its own officials in the department of banking operations and development (DBOD) while granting an in-principle banking licence to the CRB group.
A diamond bourse is forever but incomplete
In private conversations among Mumbai's diamond trading elite, the project is referred to as Bourse Bofors. There may not be any hanky-panky, but the fact that a Rs 520 crore diamond bourse is now going to cost nearly twice that amount to build has sent tongues wagging.
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