The Hindu Business Line : Monday, February 18, 2002

Sponsored ADR/GDR programme to be liberalised -- Cos may get nod to divest in unlisted arms abroad
THE Government is set to announce its decision to liberalise the sponsored ADR/GDR programme by allowing Indian corporates to divest their equity holdings abroad in their unlisted subsidiaries in the forthcoming Budget for 2002-03. According ... More

Democracy in a coma
STARTING this Republic Day, Indians have been allowed to fly the National Flag and, thus, express their patriotism and love for the motherland whenever they want. A momentous day for Indian democracy. Ironically though, it took several years of ... More

'Deregulate cotton from ECA purview'
THE Chamber of Textile Trade and Industry (COTTI) has questioned the Centre's wisdom of still keeping cotton and related textile products under the purview of the Essential Commodities Act, 1955, particularly when domestic textile industry and ... More

Directors' powers: Many questions unanswered
Apart from the directors to whom no remuneration may be paid without the approval of shareholders, even the officers of the company will have to treat this amount as income in their hands and pay tax. More

Suzuki seeks enabling norm for 2/3-wheeler partner
SUZUKI Motor Corp has sought an enabling provision from the Government for the right to rope in a partner in its proposed Indian subsidiary for making two and three-wheelers, according to Government sources. The Suzuki proposal, which is slated ... More

A good sale
IT MUST COME as a great relief to the Government that it has passed the strategic sale test in the case of Paradeep Phosphates. The sale has not raked in much money. It was not expected to. The sole bidder — the Zuari combine — will ... More

STATES

Hi-tech policing
Karnataka is not leaving anyone untouched by its initiatives in technology. The Karnataka Police has now taken a major step towards becoming computer-savvy. It has tied up with the Bangalore-based IT giant Wipro for a four-day basic computer ... More

AP strategy to lure mega IT cos
FOLLOWING a slew of initiatives to attract the IT sector including a recent policy framework targeted at the IT Enabled Services and a land pricing policy, the Andhra Pradesh Government is set to partially revise downward real estate price in ... More

Plea to scrap ST on viscose yarn in TN
THE Sourashtra Madhya Sabha has sought the intervention of the Union Government in controlling the prices of viscose filament yarn (art silk yarn). The sabha President, Mr A.K. Ramamoorthy, in a letter to the Prime Minister, Mr Atal Bihari ... More

Injunction against addl tax on HT power tariff in TN
THE Madras High Court has given an interim injunction against collection of five per cent additional electricity tax on high-tension consumers levied by the Tamil Nadu Electricity Board on a plea from two regional textile bodies. The court ... More

Power distribution in Karnataka -- Private investors seek 20% foreign currency denominated returns
This kind of a high return expectation is partly due to the Karnataka Government's past track record, where it had failed to honour the obligation of investors in the generating sector invited either through the MoU route or through the competitive b idding route. More

FAPI to employ disabled
HYDERABAD: The members of the Federation of Andhra Pradesh Industries (FAPI) would be shortly employing 500 disabled persons in their units. A decision to this effect was taken at a workshop on the disabled held here recently, according ... More

TAXATION

Plans to triple cess on crude post-decontrol
THE Union Government proposes to triple the cess on indigenous crude oil to Rs 2,700 per tonne post-April. The move may help the Government recover an additional Rs 5,940 crore every year from crude cess alone. According to sources, while ... More

SCIENCE & TECHNOLOGY

DST to scale up R&D spend
THE Department of Science and Technology (DST) is set to scale up further its R&D spend aimed at broad-basing various research initiatives across the country, according to the Union Minister of State for Science and Technology, Mr Bachi Singh ... More

NEW PROJECTS

Bengal invites Germany to set up industries
Already, several German companies such as Siemens, Otto India, Lurgi, Gontermann Peiper, Phoenix Yule and International Ferrites, have been associated with West Bengal. "Please come here and put us to test'', Mr Chatterjee, WBIDC Chairman, said. More

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