Arshiya International launches its Free Trade Warehousing Zone in Panvel

Arshiya International Ltd, a supply-chain and logistics infrastructure solutions company, said it launched its free trade warehousing zone (FTWZ), a first of its kind in India, at Panvel near Mumbai.

The 165-acre facility will be operational over two phases. The facility will employ over 25,000 people at full capacity and is expected to cost around Rs1,500 crore, said the company in a regulatory filing.

On Wednesday, Arshiya International shares gained 3.7% to Rs292 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.2% up at 18,257 points.

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Reliance Broadcast Network in joint venture with CBS Studios

Reliance Broadcast Network Ltd, formerly known as Reliance Media World Ltd, said it signed a joint venture agreement with CBS Studios Inc, a division of CBS Corporation for various media deals. No financial details were provided.

The joint venture will initially create three new television channels. The channels will be English entertainment channels, customised for the Indian market offering audiences immediate access to new and current CBS programmes, said the company in a regulatory filing.

On Wednesday, Reliance Broadcast Network shares closed 5% higher at Rs81 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.2% up at 18,257 points.

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Satyam's ex-founder Ramalinga Raju granted bail

Hyderabad: Satyam Computer Services' (Satyam) tainted founder B Ramalinga Raju today secured bail from the Andhra Pradesh High Court, over 17 months after his arrest on charges of allegedly fudging the IT company's accounts reports PTI.

Mr Raju, who was arrested on 7th January last year and is currently undergoing treatment in a city hospital, was granted bail on the condition he stay in Hyderabad and provision of on two sureties of Rs20 lakh each.

Justice Raja Elango granted the bail to the former chairman of Satyam Computer, which has since been taken over by the Mahindra group and renamed Mahindra Satyam, even as the Central Bureau of Investigation (CBI) said he could influence witnesses numbering 250 if let out.

With Ramalinga Raju getting bail, all the 10 accused in the Rs14,000 crore Satyam accounting fraud case have been granted bail by various courts.

Mr Raju had in January last year written to the company's board admitting to fudging the accounts.

Mr Raju will remain in Hyderabad city until further order, his lawyer Bharat Kumar told reporters here.

Mr Kumar said Mr Raju has been cooperating in the investigations and will continue to do so without any let or exception. "He will scrupulously follow any conditions laid down by the court.

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