The Telegraph
Since 1st March, 1999
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Business Briefs

Funds for Tata deal

Mumbai, March 30: The consortium of banks mandated to raise $3 billion for funding Tata Motors’ acquisition of the Jaguar and Land Rover-is likely to consist of around 25 banks, which will help distribute the financial burden amongst themselves. The consortium, which comprises eight mandated lead arrangers, has approached around 80 lenders in India and abroad. “We are in talks with nearly 80 domestic and international banks. We are looking at expanding the size (of the consortium) to around 25, depending on the availability of suitable partners,” a source said.

Thomas Cook

Mumbai, March 30: Thomas Cook (India) has reconstituted its board with the induction of four directors: Manny Fontenla-Novoa, Juergen Buser, Michael Hallisey and Roland Zeh .

New cell firms

New Delhi, March 30: New telecom licensees have been allotted five-digit codes as a prefix for 10-digit cellular numbers by the DoT. Spectrum will be distributed soon to start services.

REL contracts

New Delhi, March 30: Reliance Energy has bagged two contracts worth Rs 1,200 crore to set up 400KV extra high-voltage transmission systems in the western part of the country.

Tax mopup

New Delhi, March 30: The income tax department expects to close the financial year with direct tax collections crossing Rs 3,10,000 crore. The direct tax collections have already crossed Rs 3,00,000-crore for the first time.

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