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Business Briefs

Panel on Tata Tele dithers

New Delhi, Sept 11: The sub-committee of Videsh Sanchar Nigam Ltd (VSNL) board, formed to review its decision to invest Rs 1,200 crore in Tata Teleservices, met on Wednesday but failed to take any decision on the investment plan. The sub-committee was constituted following a tussle between the Tatas and the government, the two partners in VSNL, over the corporation’s decision to invest Rs 1,200 crore in loss-making Tata Teleservices.

NPA Ordinance

New Delhi, Sept 11: The Delhi High Court today declined to stay the Ordinance on reconstruction of financial assets promulgated by the Centre to deal with the Rs 1,00,000 crore non performing assets (NPAs) of banks and financial institutions but admitted a petition challenging its validity.

Indirect tax

New Delhi, Sept 11: Recovery in the manufacturing sector pushed up indirect tax collections by about 15 per cent to Rs 48,096 crore during the first five months of this fiscal against Rs 41,812 crore during April-August 2001.

DSE merger

New Delhi, Sept 11: After over a year’s negotiations, the merger talks between the Delhi Stock Exchange (DSE) and Bombay Stock Exchange (BSE) were virtually called off today after the Mumbai bourse showed its inability to finalise the deal before March 2003.

Indian Hotels

Mumbai, Sept 11: The Indian Hotels Company Ltd has taken over operations of the Regent Hotel and rechristened it as ‘Taj Lands End.’


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