The Telegraph
Since 1st March, 1999
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Business Briefs

Fresh bids for 51% in FACT

New Delhi, Feb. 5: The ministry of disinvestment has called for fresh expression of interest (EoI) for disinvestment of 51 per cent shareholding in the Fertilisers and Chemicals Travancore Limited (FACT). FACT, incorporated in 1943, was set up as the country’s first large-scale fertiliser plant on the banks of the river Periyar at Dyogamandal near Alwaye in Ernakulam District of Kerala.

HPCL selloff

New Delhi, Feb. 5: A petition challenging the disinvestment of HPCL and BPCL was filed before the Delhi High Court here today. Meanwhile, the staff association of HPCL has said it will not allow government-appointed global advisors to carry out valuation of the refinery and vowed to block due diligence by the suitors.

IMF quota

Washington, Feb. 5: The International Monetary Fund’s (IMF) governors have ruled out any increase in its quota or shareholding despite vast expansion in membership.

BoR scam

Calcutta, Feb. 5: A special CBI court today rejected the bail of Keshav Bangur and Vinod Baid who had been arrested in connection with the alleged misappropriation of over Rs 100 crore from Bank of Rajasthan (BoR) in 1996 and remanded them in jail custody till February 19.

Triumph move

Calcutta, Feb. 5: Triumph Distillers & Vintners, a subsidiary of the UB group, is planning to bring low-alcohol-based ‘ready-to-drink’ beverage in collaboration with an Australian company.

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