Ambit, PwC in pact

Mumbai, Feb. 12: Ambit RSM Pvt Ltd and PricewaterhouseCoopers (PwC) have decided to merge their respective tax practices to create India’s largest accounting firm. RSM Advisory Services Pvt Ltd, the taxation advisory arm of Ambit RSM, will merge with PwC’s tax practices unit with effect from April 1. The combined operations would be under the common brand of PwC.

Birla case

New Delhi, Feb. 12: The Supreme Court has issued notices to R.S. Lodha on Birlas’ petition challenging the refusal of their right to object to late Priyamvada Birla’s purported 1999 will.

i-flex shares

Mumbai, Feb. 12: Oracle Corporation has acquired a 28.03 per cent shareholding in i-flex against the proposed 34.89 per cent in the open offer to the shareholders.

Tata plans

London, Feb. 12: Tata Steel is likely to buy back existing Corus debt in the financing of its acquisition of the Anglo-Dutch steelmaker, the Financial Times said on Monday. The move could slash the value of derivatives contracts worth billions of dollars linked to debt previously issued by Corus.

Industry index

New Delhi, Feb 12 : The growth rate of the index of industrial production in December fell to 11.1 per cent from 14.4 per cent in November.