Foreign airline fees
New Delhi, Dec. 9: The Competition Appellate Tribunal has said there is no evidence of cartelisation among foreign airlines operating on international routes from India in their decision to stop paying commissions to travel agents. Hearing an appeal by the Travel Agents Association of India against an order by the Competition Commission of India in the matter, the tribual ruled that “there was no evidence of any cartelisation whatsoever”.
Mumbai, Dec. 9: As many as 17 of 23 companies, holding foreign currency convertible bonds (FCCBs) worth $1.51 billion maturing by March 2013, are unlikely to redeem them on time, India Ratings said in a report.
New Delhi, Dec. 9: The proposals for granting maharatna status to power equipment-maker Bhel and gas utility GAIL will soon be referred to a secretaries’ panel, headed by cabinet secretary Ajit Kumar Seth, according to an official.
New Delhi, Dec. 9: A government-appointed panel, comprising officials and corporate leaders, to suggest steps to improve India’s business climate is yet to make much headway with members meeting only once since its inception in August.
New Delhi, Dec. 9: After months of lull in IPO activity, two public offers — by telecom tower company Bharti Infratel and PC Jeweller — will hit the capital market this week to raise over Rs 5,000 crore.