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Laloo's arrest imminent
Belleafuered Bihar Chief Minister Laloo Prasad Yadav and two of his Cabinet colleagues faced the threat of arrest when the Patna High Court yesterday rejected their anticipatory bail petitions in the fodder scam and a Special Court took cognizance of the charge-sheet filed against them and 54 others.
Kesri sets deadline for Cong comeback
Congress President Sitaram Kesri has set a definite time-frame for his party to be back in power saying it would ``face the ultimate challenge within one to one-and-a-half years when the Congress would come back just as Indiraji had come back in 1980''.
Cong demands Gupta's apology
The Congress party stepped up pressure on Gujral government on the issue of police firing in mumbai with party chief Sitaram Kesri demanding withdrawal of certain observations made by Home Minister Indrajit Gupta in Lok Sabha on Wednesday and his apology for the same.
Scared Left takes back anti-Laloo rhetoric
Classoic Left doublespeak was on display in the Lok Sabha yesterday during the discussion on the Centre's handling of the controversy over Laloo Prasad Yadav. The Left, which had been leading the campaign for Laloo Yadav's resignation, was strangely muted when it came to allowing the BJP motion to be taken up.
Stir against pay panel recommendations
Though the recommendations of the Fifth Pay Commission has put a heavy burden on the national exchequer, it has failed to enthuse either Central or State Government employees.
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Tata Electric bid to raise Rs 500 cr via debt
Tata Electric Companies (TEC), the umbrella organisation for the three Tata power companies, plans to raise Rs 500 crore in 10-year domestic debt. The organisation, it is learnt, is scouting for funds without a put/call option to avoid disturbing the cash-flow during the tenure of the debt.
Reliance Petroleum raises $300m loan on split coupon rates
Reliance Petroleum has raised a $300-million syndicated loan carrying split-level staggered coupon rates. The 10-year facility, with a three-year moratorium, is priced at 200 basis points over Libor for the pre-completion stage of the project. The coupon will be higher - 250 basis points over Libor - for the post-completion stage.
Wipro, British Telecom in talks to save joint venture
Wipro Limited is examining restructuring of operations at Wipro-BT, the 50:50 joint venture with British Telecommunications Plc (BT), in a move to keep the venture intact. Discussions are on to find a compromise wherein Wipro continues to hold its 50% stake in the company.
Bank frauds panel acquits Kapoor; Sawhney scribbles dissent note
The advisory board on bank frauds has absolved former United Bank of India chairman RC Kapoor of any involvement in a Rs 25.5-crore compromise deal with a GP Goenka firm. Kapoor is the banking ombudsman for Punjab, Haryana, Jammu & Kashmir.
Reinsurance business to come under IRA purview
Accepting the suggestion of the standing committee on finance, the government has extended the scope of the Insurance Regulatory Authority (IRA) to cover the re-insurance business.
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