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Since 1st March, 1999
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Business Briefs

Air-India issue adviser

Mumbai, May 22: Air-India (A-I) is expected to invite expressions of interest (EOIs) later this week to appoint an adviser for its initial public offering (IPO). The A-I board had cleared the proposal for the IPO last week. An adviser is expected to provide a roadmap to the airline on its run-up to the launch for the IPO, scheduled for this fiscal, sources said. The last date for receipt of applications for submitting EOIs is likely to be the third week of June, they added.

EPF meet

New Delhi, May 22: A meeting of the Central Board of Trustees of the Employees Provident Fund (EPF) will be held here on May 28 to discuss measures to bridge the shortfall of Rs 927 crore in view of finance minister P. Chidambaram's announcement of a 9.5 per cent interest for 2004-05. The meeting will also discuss the interest rate for 2005-06.

DSE stake

New Delhi, May 22: The Delhi Stock Exchange (DSE) plans to sell its controlling stake to an overseas bourse to revive itself. A five-member committee for demutualisation of DSE would meet tomorrow to consider this option.

Bharti case

New Delhi, May 22: Delhi High Court has dismissed the allegation of fraud against Bharti and cleared the scheme for transfer of Skycell shares in its favour. Skycell, now called Bharti Mobinet, which was offering cellular services in Chennai, was bought over by the Bharti group.

IRDA panel

New Delhi, May 22: The Insurance Regulatory and Development Authority has reconstituted its actuarial review committee, which will audit the filings of the appointed actuaries of insurers.

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