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Business Briefs

Ray Ban open offer ordered

Mumbai, Aug. 29: The Securities Appellate Tribunal (SAT) today asked Luxottica Group Spa and Associates to make an open offer for Ray Ban Sun Optics India Ltd (RBSOIL) and also pay 15 per cent interest to investors who continued to be RBSOIL shareholders from April 28, 1999 till close of offer. Modifying Sebiís order (August 8, 2002) to make offer, which was stayed by SAT on September 16, 2002, the tribunal said Luxottica, Ray Ban Holdings and Bausch & Lomb Indian Holding Inc should make an open offer within 45 days of the this order, SAT said.

Hind Petro

Mumbai, Aug. 29: Employees opposed to the privatisation of HPCL today held a dharna and prevented Reliance Industries officials from entering the city refinery at Mahul.

Tax panel

New Delhi, Aug. 29: The Centre is likely to expand the scope of task force looking into tax issues of non-residents by including in its terms of reference the issue of permanent establishments.

Trai order

New Delhi, Aug. 29: In an effort to protect the sustainability of smaller standalone internet operators, Trai today mandated basic service providers to give infrastructure facilities to all internet service providers in a non-discriminatory manner.

Costliest city

New Delhi, Aug. 29: Mumbai continued to be the most costly city with consumer price index shooting up to 589 points compared with the national average of 501, even as inflation rate based on the index rose to 4.16 per cent in July from 3.89 per cent a year ago.


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