The Telegraph
Since 1st March, 1999
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Business Briefs

Healthy growth in tax mopup

New Delhi, Jan. 14: Tax collections surged 17.19 per cent to Rs 1,48,177 crore during April-December 2002 backed by industrial recovery and higher corporate earnings. Direct taxes increased 20.47 per cent to Rs 53,499 crore during the first nine months of this fiscal compared with 44,408 crore in the year-ago period, while indirect taxes was up 15.41 per cent to Rs 94,678 crore from Rs 82,036 crore in 2001, finance ministry officials said.

LICHF rate cut

New Delhi, Jan. 14: Triggering another rate war, LIC Housing Finance (LICHF) today decided to slash floating interest rates by 0.25 per cent to make them the cheapest in the industry.

Harshad Mehta

New Delhi, Jan. 14: A decade after the Rs 8,000-crore securities scam rocked the country, the Supreme Court today upheld the special courtís decision to convict stock broker Harshad Mehta, who died during the pendency of the appeal in the apex court.

Baid remand

Calcutta, Jan. 14: A special court today remanded Vinod Baid in the custody of the Central Bureau of Investigation (CBI) till January 21. Baid was arrested by the agency last week, for allegedly embezzling Rs 5 crore from Bank of Rajasthan in collusion with Keshav Bangur, a former director and promoter of the bank. Bangur too has been arrested and remanded in CBI custody.

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