Hughes to get licence

New Delhi, Feb. 19: The Telecom Disputes Settlement and Appellate Tribunal (Tdsat) has directed the government to grant a national long distance licence to Hughes Communications, which would help the company start satellite data transmission services. The tribunal today directed the department of telecom to issue a provisional “no due” certificate to Hughes on its furnishing a bank guarantee of over Rs 12 crore.

British Gas

New Delhi, Feb. 19: British Gas today entered into a pact with ONGC to acquire participating interest in Mahanadi basin and Krishna Godavari basin blocks of the state-owned enterprise.

IndusInd plan

Mumbai, Feb. 19: IndusInd Bank has decided to sell up to 10 per cent of its existing equity capital. The bank has constituted a finance committee of the board of directors and authorised it to decide on the terms for appropriate mode of further issue of capital.

JPMorgan

Mumbai, Feb. 19: JPMorgan Asia Pacific today announced a $750-million expansion into private equity as part of its regional growth strategy.

IDR norms

Mumbai, Feb. 19: Regulatory authorities are planning to change certain features of issuing Indian depository receipts (IDRs) to make it more competitive in terms of costs and disclosures.