FIPB’s yes to Daiichi

New Delhi, Aug. 26: The Foreign Investment Promotion Board (FIPB) has again cleared the proposal of Japan’s Daiichi Sankyo to acquire Ranbaxy. The proposal will now go to finance minister P. Chidambaram and Cabinet Committee on Economic Affairs (CCEA) for final approval.

SpiceJet panel

New Delhi, Aug. 26: SpiceJet has set up a three-member management committee comprising chief commercial officer Samyukth Sridharan, chief financial officer Partha Basu and director Kishore Gupta to take care of the functioning of the airline till it finds a new CEO.

RIL gas plan

New Delhi, Aug. 26: Reliance Industries (RIL) plans to transfer 80 per cent of its holding in its eastern offshore D6 block to four wholly owned subsidiaries to enhance flexibility to raise finances.

MF proposal

Mumbai, Aug. 26: Mutual fund industry has proposed that Sebi allows mutual funds (MF) to offer insurance cover to investors along with their regular schemes.

ABB boss quits

Mumbai, Aug. 26: Ravi Uppal, ABB Group’s Zurich-based president of global markets and member of the group executive committee, has resigned.