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Politics Business Expressions General Sports Leisure States 11 March 1998   SMC moves ICA on MUL chairmanship Suzuki Motor Corporation has moved the International Council of Arbitration seeking the appointment of its nominee as chairman of Maruti Udyog. The move has taken the government by surprise as Suzuki has recently initiated peace talks to iron out the differences between the two partners.   Singapore co buys 5% stake in IL&FS Government of Singapore Investment Corporation is picking up about 5 per cent stake in Infrastructure Leasing and Financial Services Ltd (IL&FS) through an issue of fully convertible debentures. The infrastructure financing consortium expects to finalise the details and place the FCD with the Government of Singapore Investment Corporation soon. Open offer for Oswal Overseas shares The open offer for Oswal Overseas' shareholders at Rs 21 per share has given the investors a unique opportunity to exit from the illiquid stock. The scrip was last traded on the Bombay Stock Exchange on December 20, 1995, at Rs 25. DoT bid to save paging sector The Department of Telecommunications (DoT) is working on a major package for the revival of the paging industry which has been in the doldrums for some time now. The DoT has handed over to the Bureau of Industrial Costs and Prices (BICP) the task of studying the extent of the financial problems being suffered by paging companies.   Banks to stop at par facility Several leading banks have decided to discontinue the "at par" cheque clearing facility to non-banking finance companies (NBFCs). Led by State Bank of India, several banks have expressed their inability to continue the facility -- even for companies with best credentials, credit rating and good track record -- with effect from April 1, 1998. High Court stays Indal bauxite mining The Mumbai high court has stayed bauxite mining by Indal, which is presently in the midst of a takeover drama, in the Idergunj area in Kolhapur, which falls under the Radhanagari reserved sanctuary. The petition over the environmental corrosion was filed by Bombay Environment Action group.     Y2K bug to hit 70% of companies   PCL scrip up on takeover rumours   Sensex loses 9 points   Insurance lobbying hots up