Indian Express Publications

Friday, August 1 1997

Rabri plans mass movement
The Rashtriya Janata Dal Legislature Party, under the leadership of Bihar Chief Minister Rabri Devi, has decided to launch a movement against "the attempt to malign and denigrate" Laloo Prasad Yadav. His imprisonment, the party declared, was an attack on the poor and downtrodden of the State.

Sangma, Heptullah to probe IB snooping in Parliament
Lok Sabha Speaker PA Sangma and Rajya Sabha Deputy Chairperson Najma Heptullah will conduct a joint inquiry into the Intelligence Bureau (IB) surveillance in Parliament. Speaking to The Indian Express, Heptullah said Prime Minister IK Gujral had asked them to conduct the inquiry.

CBI plea to Army puts Govt in a fix
The Gujral government is expected to apprise the Chief Justice of India Justice JS Verma about the unprecedented situation that developed in Patna yesterday when the High Court "orally" agreed to the CBI's request to seek Army assistance to arrest Laloo Prasad Yadav.

War of one-upmanship
Uttar Pradesh Governor Romesh Bhandari and Chief Minister Mayawati met to patch up relations but not before they had used every opportunity to hit out at each other.

India's first "stealth" warship to be commissioned
The first Indian warship incorporating stealth features, the 6700-tonne guided missile destroyer INS Delhi is to be commissioned into the Indian navy by Prime Minister IK Gujral at the naval dockyard on September 25.

Corporates allowed to tap foreign funds via preference shares
The government will allow domestic companies to mobilise foreign investments through preference shares for financing projects. The inflow of capital, however, will remain limited to sectoral caps on foreign equity.

ONGC, Bharat Petroleum plan hinges on cost factor
The Oil and Natural Gas Corporation is exploring various ways of reducing costs in the paraxylene project planned with Bharat Petroleum Corporation.

Banks urged to pass on interest tax cut benefit to corporates
The Reserve Bank of India has directed scheduled commercial banks to pass on the benefit of interest tax reduction to corporates "irrespective of the category of borrowers and types of advances".

Bluechips plan to hitch on to yankee bondwagon
A clutch of corporates, led by Hindustan Petroleum Corporation (HPCL), Hindalco, Larsen & Toubro (L&T) and Steel Authority of India (SAIL), is all set to tap the yankee bond market to raise long-term funds for 10 years and above.

Sandoz-Ciba share swap by to be reviewed by new valuer: HC
The Mumbai high court has ordered the appointment of a new valuer to determine the fair swap ratio for the merger of Sandoz India with Hindustan Ciba Geigy (HCG).

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