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Laloo charged, stay on arrest declined
Bihar Chief Minister Laloo Prasad Yadav yesterday achieved the dubious distinction of becoming India's first chief minister to be charge-sheeted in a criminal case. Fifty-five other senior politicians and IAS officers were also charge-sheeted in the Rs 900-and-odd-crore fodder scam.
Indo-Pak panels given shape on 8 issues
Pakistan and India announced that they had managed to reach a consensus on a mechanism under which working groups will be established on eight issues, an achievement that has raised hopes for full normalisation of relations between the two countries.
EC threatens to derecognise JD office-bearers
With no end in sight to the impasse over the Janata Dal's attempts to hold party elections, the Election Commission has threatened to "derecognise" the office-bearers of the Dal.
Order on allotments within SC parameters: Govt
Faced with criticism for circumventing a Supreme Court order with an ordinance regularising out-of-turn allotments, acting union minister of state for urban development Veerendra Kumar claimed the ordinance was "within the parameters of the Court order, except for the eviction part".
HC frees Daewoo accounts
While extending the freeze on the bank accounts of the CRB Capital Markets Ltd (CRBCML) and its 39 associate companies, alleged to be involved in the Rs 1,200-crore CRB scam, the Delhi High Court yesterday ordered the de-freezing of the accounts of Daewoo Finance (India) Ltd on certain conditions.
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SBI to treat dividend warrant facilities as regular credit
The State Bank of India plans to treat the dividend and interest warrant facility offered to corporates, including a large number of non-bank finance companies, as a credit facility.
LM Thapar edged out from Phoenix Pulp & Paper board
Ballarpur Industries chairman LM Thapar has been dropped from the board of directors of the Thailand-based Phoenix Pulp and Paper Company. Thapar was one of the original promoters of the company. Ballarpur Industries Ltd (BILT) holds about 13% in the Phoenix Pulp and Paper Company (PPPC), a joint venture between European Overseas Development Corporation (EODC) and BILT.
DoT, basic service operators may ring in pact today
The tripartite agreement between the department of telecommunications and basic service operators is likely to be finalised today. The final draft has been prepared after a series of informal consultations with individual operators in the last few weeks.
IFCI plans $150-million GDR issue
The Industrial Finance Corporation of India (IFCI) has drawn up plans for a $150-million GDR issue. Details about the pricing and the launch of the issue will be decided at the financial institution's board meeting on June 26.
Dena Bank net profit spurts 41% to Rs 72 crore
DENA Bank has posted a 41% jump in net profit to Rs 72 crore for the year ended March 31, 1997, against Rs 51.67 crore registered in the previous year. The board, which met in Mumbai on Monday to finalise the audited results, recommended a maiden dividend of Rs 1.20 for every Rs 10 share.
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