The Telegraph
Since 1st March, 1999
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Business Briefs

Mopup of taxes swells 9%

New Delhi, Nov. 30: The government’s gross direct and indirect tax collection grew 8.89 per cent to Rs 1,12,363 crore in April-October. This was due to a surge in corporation tax and a perceptible rise in garnering customs, even as income tax and excise duties mopup limped.

tre could collect a gross amount of Rs 1,03,192 crore from taxes (both direct and indirect) in the same period in 2002-03.

IGL issue

New Delhi, Nov. 30: The initial public offer of Indraprastha Gas Ltd (IGL) has been over-subscribed by 2.7 times. IGL issue, which opened on November 28, received bids for 108.35 million shares against the offer of 40 million shares.

Zee squatter

New Delhi, Nov. 30: Stung by its trade name being robbed off by non-descript foreign firms to squat on domain names, Zee group of companies approached the Delhi High Court which has restrained firms from America, China, Pakistan and Nepal from using the word “Zee” in their domain names.

Vizag Steel

Calcutta, Nov. 30: Vizag Steel Plant has decided to acquire captive iron-ore mines for smooth running and applied to the Orissa and Chhattisgarh governments for taking over some reserves. “We have identified iron ore reserves in Raoghat in Chhattisgarh and Malantoli in Orissa,” chairman-cum-managing director B. K. Panda said.

Sify plan

New Delhi, Nov. 30: Sify is planning to start network services for overseas clients mainly in the US. It may undertake offshore network management activities. “We are looking at network services in overseas market in the space of internet-based virtual private networks,” president and chief operating officer George Zacharias said.

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