The Telegraph
Since 1st March, 1999
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Business Briefs

ITC board meet

Calcutta, March 22: The board of ITC Ltd is likely to discuss on Saturday the Centre's ordinance that sought to recover Rs 450-crore excise dues from the company. An ITC spokesman refused to say anything at this stage. However, it was learnt that although the board meeting is a routine bi-monthly affair, the ordinance would be discussed. Earlier, the matter had been referred to a high-powered corporate management committee of the company headed by chairman Y. C. Deveshwar with three other executive directors as members.

Insurance stir

Chennai, March 22: Public sector general insurance employees will go on a nationwide two-day strike on March 23 and 24. They are demanding a wage revision and promotion.

VAT bill

Calcutta, March 22: The draft amendment bill for value-added tax (VAT) is likely to be put on the website of the sales-tax department tomorrow.

Sidbi stake

New Delhi, March 22: The SBI group has emerged as the largest shareholder in Sidbi after IDBI divested almost 30 per cent stake in it to banks and financial institutions this fiscal.

Aviation body

New Delhi, March 22: The government is planning an airport economic regulatory authority to deal with tariff and service standards at airports, Union civil aviation minister Praful Patel said.

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