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The worker-run enterprise fiction
When the West Bengal government intervened by setting up Operating Managing Committees (OMCs) of workers in closed and sick tea gardens in the state, it was done to also alleviate the basic problems of the workers’ families. But this seems to have only given rise, as reported in the earlier parts of this series, to a section which makes money by exploiting other workers in collusion with local contractors. There is little evidence of any intervention, either by the district administration or political bigwigs, to curb this.

IITs double pace of final placements this season
Having placed nearly 70 per cent of their students in just over a month, the IITs are hopeful of wrapping up the placements season much before March

News of the day

Oil regulator seeks infra lending for CGD projs
Oil regulator PNGRB has asked the Reserve Bank of India (RBI) to include networks built for sale of CNG to automobiles and piped gas to households in the definition of infrastructure so they can get project financing.
International Business

Bajaj Auto Fin to seek shareholders nod for MF biz

Two-wheeler and consumer durables loan provider Bajaj Auto Finance today said it would seek shareholders" approval through postal ballot to start mutual funds and finance infrastructure projects. - Wockhardt shareholders nod selling animal healthcare biz - Bajaj Auto Finance slips 4% on profit taking - Bajaj Auto Fin"s net profit jumps five-fold - Bajaj Auto Finance net jumps five-fold to Rs 15 cr - Ansal seeks shareholders nod to raise Rs 4,000 cr - Bajaj Auto Finance Q4 PAT rises three-fold to Rs 15 cr It would conduct postal ballots to secure permission of its shareholders for passing two special resolutions to this effect, Bajaj Auto Finance said in a filing with the Bombay Stock Exchange. It would seek shareholders" approval through postal ballot to set up or float domestic or offshore trusts or funds, including mutual funds, growth funds, infrastructure capital funds and also to act as financial consultants, it said. The shareholders would consider another resolution by way of postal ballot to undertake and carry on business of providing long-term finance for development of infrastructure projects in roads, highways, power generation, export promotion parks and software technology parks, it said. The company has appointed Shyamprasad D Limaye as scrutinizer for conducting the postal ballot procedure, it said. The duly filled postal ballots should reach the scrutiniser till September 17. The result of the ballot would be announced on September 30. Shares of the company closed at Rs 200.95, up 1.11 per cent from the previous close on the BSE.


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