COMPANIES & SECTORS


MDT/PTI 11 December 2012
A special court imprisoned the three, including one officer from Oriental Bank of Commerce, for cheating the bank to nearly Rs8 crore through fraudulent manipulation of bank drafts   New Delhi: A former officer of Oriental Bank of Commerce (OBC) was sentenced to one-year imprisonment...

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MDT/PTI 11 December 2012
Standard Chartered will pay $327 million to settle charges it violated for US sanctions on Iran, Myanmar, Libya and Sudan   Washington: British bank Standard Chartered will pay the US $327 million to settle charges it violated US sanctions on Iran, Myanmar, Libya and Sudan, the US...

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MDT/PTI 11 December 2012
The figure includes nearly $1.3 billion, a record amount for a bank, as part of a deferred prosecution agreement besides a civil fine of more than %650 million that HSBC may have to shell out   Washington: US authorities plan to announce a record $1.9 billion settlement with British...

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MDT/PTI 10 December 2012
A special drive has been undertaken from 15 December 2012 to 30 June 2013 for completing deemed conveyance of cooperative housing societies in Maharashtra   Mumbai: The Maharashtra government has set up a co-ordination committee under the district collector to assist the district...

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MDT/PTI 10 December 2012
SEBI has also written to Sahara group to furnish the details of bank accounts and properties held by them so as to enable it to take recourse to appropriate legal remedies as per the Supreme Court directions   New Delhi: Market watchdog Securities and Exchange Board of India (SEBI)...

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Will cronyism dictate our attitude to our tiny neighbours, while we are pressured by rich nations to open up our markets? In the most brazen display of Enron’s powerful connections with George Bush, its CEO Kenneth Lay has written to Prime Minister Atal Bihari Vajpayee saying that if the...

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MDT/PTI 10 December 2012
  Wal-Mart has spent close to $25 million or about Rs125 crore since 2008 on its various lobbying activities. During the September 2012 quarter, it spent around Rs10 crore on various lobbying issues, which including discussions related to FDI in India. Washington/New Delhi: Global...

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Moneylife Digital Team 07 December 2012
When MIAL decided to unilaterally increase parking charges, fifty times higher than the usual hourly rate on the general aviation aircrafts in Mumbai, aircraft owners complained to the regulator and got relief Airports Economic Regulatory Authority Appellate Tribunal (AERAAT) on Friday...

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MDT/PTI 07 December 2012
Bharat Reinsurance, IFFCO Tokio General Insurance, Apollo DKV Insurance, DLF Premierico Life Insurance, Aviva Life Insurance, Sri Ram Life Insurance, Sahara India Life Insurance and Reliance Life Insurance have been found guilty of service tax evasion says Chidambaram   New Delhi:...

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MDT/PTI 07 December 2012
L&T Infrastructure Development Projects said ICICI Bank-led consortium would fund its two road projects in Maharashtra   Mumbai: L&T Infrastructure Development Projects (L&T IDPL) on Friday said it has achieved financial closure for two of its road projects in Maharashtra, reports...

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MDT/PTI 07 December 2012
Infosys would help India Post transform its banking and insurance operations - covering more than 200 million banking customers across urban and rural India Kolkata: IT company Infosys is planning to roll out in about two years, its Rs700-crore project that would help India Post...

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MDT/PTI 07 December 2012
The alleged transactions by StanChart mainly involved US dollar transfers for state-owned Iranian banks, including the central bank, that fell under US sanctions aimed at curtailing Iran's controversial nuclear programme Hong Kong: British bank Standard Chartered has said it expects to...

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MDT/PTI 05 December 2012
A week after the expiry of deadline that the lenders had set to Kingfisher management to come up with a revival plan, including a $1 billion capital infusion, State Bank of India has said the banks are trying everything to find an amicable solution Mumbai: State Bank of India (SBI), the...

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MDT/PTI 05 December 2012
After the exit from Kurdistan and Yemen, RIL now is left with a portfolio of 10 overseas oil and gas assets including two each in Peru, Yemen, Oman and Colombia and one each in East Timor and Australia New Delhi: Reliance Industries Ltd (RIL) on Wednesday said it has completed sale of...

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MDT/PTI 05 December 2012
In current fiscal, LNG imports will jump to 73 mmscmd and are projected to further rise to 105 mmscmd in 2013-14, equalling the domestic gas production in India   New Delhi: India's import of natural gas will surpass domestic production in two years as output from fields like Reliance...

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Moneylife Digital Team 05 December 2012
Unlike its earlier order that imposed severe time restrictions on Sahara, the apex court today gave the Subrata Roy-led Sahara Group time till February to repay Rs24,000 crore it had raised from investors through bond sales plus an interest of 15% on the amount. This order is quite different...

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Should you buy now or wait till next year? This season, the pre-Diwali discounts and marketing efforts for a variety of automobiles and two-wheelers have reached new highs (or lows, depending on how you look at things). Players like General Motors and Toyota have made far more noise than...

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MDT/PTI 05 December 2012
The High Court said, RIL should be given a fair chance to be heard in the matter as the disclosures pertain to the company   Mumbai: The Bombay High Court has asked market regulator Securities and Exchange Board of India (SEBI) to make Reliance Industries Ltd (RIL) a party to its...

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MDT/PTI 05 December 2012
GlaxoSmithKline would buy 31.8% additional stake in its unit GlaxoSmithKline Consumer Healthcare for Rs3,900 per share Mumbai: UK-based GlaxoSmithKline Plc's open offer to acquire 31.8% stake in its Indian subsidiary GlaxoSmithKline Consumer Healthcare Ltd will begin on 17th January...

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MDT/PTI 04 December 2012
Canada gave its final clearance to the project under which ArcelorMittal-led consortium will begin construction of the new iron-mine close to Arctic   Toronto: Facing hurdles in France, Luxembourg-based ArcelorMittal on Tuesday got green light from Canada for its multi-billion dollar...

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