The Telegraph
Since 1st March, 1999
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Business Briefs

$ 500m FI prop for Dabhol

Mumbai, Oct. 24: Industrial Development Bank of India (IDBI) led financial institutions (FIs) will fund the repair, completion and start up costs up to $ 500 million of the Dabhol Power Company’s (DPC) 2,184 MW project. “Our first priority is to restart Phase I of DPC’s plant as Indian investors’ money is blocked in this project. While NTPC has agreed to manage the plant on a fee, IDBI will fund the completion of the entire project,” Union power minister Anant Geete said.

CSE scam

Calcutta Oct. 24: A city court rejected the bail petition of former vice-president of CSE K. K. Daga and remanded him to police custody till October 31. The court also rejected bail prayers of former CEO and managing director of SHCIL B. V. Goud and senior vice president of IndusInd Bank S. N Paul and remanded them to judicial custody till November 7.

Electrolux plan

Mumbai, Oct. 24: The board of Electrolux Kelvinator Ltd will meet on October 31 to approve further issue of up to Rs 150 crore cumulative redeemable non-convertible preference shares to A. B. Electrolux.

Sonata engine

New Delhi, Oct. 24: The new Hyundai Sonata V6, launched on Wednesday, runs on a petrol engine and not diesel as mentioned in the Thursday edition of Business Telegraph. The error is regretted.

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