The Telegraph
Since 1st March, 1999
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Business Briefs

Dinesh Dalmia in the dock

Calcutta, May 6:The chief metropolitan magistrate of Calcutta has declared Dinesh Dalmia — promoter and managing director of DSQ Software — as a ‘proclaimed offender’. This implies that anyone can now detain Dalmia, wanted for the Rs 120-crore payment crisis that hit Lyons Range in March 2001, and hand him over to the Calcutta Police. Soumen Mitra, DC DD-I, said: “If he still does not turn himself in, we could attach his properties.”

Indian Bank

New Delhi, May 6:Indian Bank plans an initial public offer in July 2004 to raise capital for funding its expansions, chairman Ranjana Kumar said today. She, however, declined to give the amount or the percentage of government holding that would be diluted after the IPO.

ICICI Lombard

New Delhi, May 6:ICICI Lombard General Insurance Company has tied up with Galileo India to sell its overseas travel insurance— Globetrotter Leisure — through the latter’s network of travel agents.

Export growth

New Delhi, May 6:The government today said it was optimistic of sustaining a high double digit export growth in the current financial year following assurance by exporters that they would be able to sustain the last fiscal’s export performance.

Oil hunt

New Delhi, May 6:The government will offer 24 oil and gas blocks for bidding under the fourth round of the New Exploration Licensing Policy to be launched on May 8.

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