Tapti gas price

New Delhi, Sept. 17: Gail (India) Ltd has refused to pay the revised price of natural gas produced from the Tapti field in Mumbai offshore, saying the price should not be raised till Reliance Industries, one of the three promoters of Panna/Mukta and Tapti fields, brings its Bay of Bengal gas to the market. Gail has, since July, refused to honour invoices drawn at $4.8 per million British thermal unit (MBTU) for the gas it buys from the British Gas-ONGC-RIL combine. It is willing to part with not more than the last price of $3.11 per MBTU.

Aviation report

New Delhi, Sept. 17: The civil aviation ministry is assessing the report on the restructuring of Delhi and Mumbai airports and is likely to send a final recommendation to the empowered group of ministers next week.

United India

Tiruchirappalli, Sept. 17: United India Insurance is exploring a possible entry into the life insurance sector, said chairman-cum-managing director V. Jagannathan.

Bank of India

Mumbai, Sept. 17: The Bank of India board has approved a proposal to pick up a 10 per cent stake in the National Collateral Management Services, promoted by the National Commodity Derivatives Exchange, banks and other financial institutions.

Tata Mutual

Mumbai, Sept. 17: Tata Mutual Fund has declared an 8 per cent dividend (80 paise per unit) on a face value of Rs 10, for its Tata Growth Fund. The record date is September 16.