Sunday, November 15, 1998
DCA to amend Companies Ordinance
The Department of Company Affairs (DCA) is expected to implement a series of changes to the Companies Amendment Ordinance before introducing it as a bill in the winter session of Parliament.
Exim Bank to buy equity stake in Indian overseas ventures
The Export Import Bank of India (Exim Bank) will pick equity stakes in a slew of joint venture projects planned by mid-sized corporates from India, mainly in the United States. This follows the recent decision by the bank to promote the credit-worthiness of Indian companies abroad.
ONGC contingent liability up by Rs 1100 cr
Oil Natural Gas Corporation Ltd's contingent liability has shot up by over Rs 1100 crore in one year. It is Rs 4640.88 crore as on March 31, 1998, going up from Rs 3522.12 crore a year earlier. Its total contingent liability thus works out to around 29% of its turnover of Rs 15,953.70 crore as on March 31, 1998.
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