Business Briefs 10-07-2012

Essar Oil account freeze Zenotech claim Vodafone case Genpact buy Coal meet

By The Telegraph Online
  • Published 10.07.12

Essar Oil account freeze

Ahmedabad, July 9: The Gujarat government today froze three bank accounts of Essar Oil Ltd in Jamnagar following the Gujarat high court directive to expedite recovery of over Rs 8,000 crore in sales tax dues. “Three bank accounts of Essar Oil have been frozen in Jamnagar district as part of the due recovery process,” a top finance department functionary said.

Zenotech claim

Hyderabad, July 9: Jayaram Chigurupati, founder and managing director of Zenotech Laboratories, has challenged in Andhra Pradesh High Court the FIPB’s approval in 2008 to Daiichi Sankyo for buying a 20 per cent stake in his company.

Vodafone case

New Delhi, July 9: Dismissing Vodafone’s contention in the Rs 20,000-crore tax case, the finance ministry has prepared a reply to the firm’s rejoinder which will be sent after the approval of the Prime Minister.

Genpact buy

New Delhi, July 9: BPO major Genpact will acquire US-based Triumph Engineering Corp, which provides engineering and technical services to aviation, energy, and oil and gas industries, for an undisclosed amount.

Coal meet

New Delhi, July 9: The meeting of the board of directors of Coal India (CIL), scheduled for tomorrow to discuss issues relating to signing of the fuel supply pacts, has been postponed.