CBI arrests Mesco group chairman
The Central Bureau of Investigation arrested chairman of the Mesco group of companies Jitender Kumar Singh and its finance controller Deepak Singh for allegedly cheating insurance companies, banks, financial institutions and shareholders to the tune of several crore of rupees.



Sensex plummets below 3900, recovers
Stock markets continued their roller-coaster ride with the benchmark Bombay Stock Exchange Sensex plummeting below the 3,900 level before staging a late recovery.



Rediff IPO faces low market, high rivalry
Leading Indian Internet portal Rediff.com has plunged into choppy market waters with its filing to go public on the Nasdaq in the United States, and faces additional pressure from heavyweight rivals nipping at its heels.



Other headlines
Internet segment getting overcrowded, ripe for consolidation
Rupee slips below 44 again
British Airways flies into the red
HC asks for details on FIIs tax sops
MIT signs MoU with Sun Microsystems, Cisco