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SC issues notices to 23 states, 3 UTs on Tata Motors' plea
The Supreme Court has issued notices to 23 states and three UTs on a petition by Tata Motors seeking quashing of the Central Sales Tax Appellate Authority"s decision asking it to pay Central Sales Tax to the tune of around Rs 14 crore on sale of bus chassis to the Andhra Pradesh government.

IMF welcomes Chinese decision to invest $50 bn
The International Monetary Fund has welcomed the Chinese decision to invest $50 billion in notes issued by IMF which would help in addressing the issues of the global financial crisis in third world countries.

News of the day

Auto component sales to rise in 2010: Fitch
Auto component sales in the country are likely to rise in 2010 on the back of positive outlook for cars sales but overseas demand will continue to be sluggish, global rating firm Fitch said.
Small Business

Jaypee, L&T sign Rs 4,000 cr contract for MP power project

Jaiprakash Power Ventures, part of the Jaypee group and L&T-MHI ((a JV between L&T and Mitsubishi heavy industries) have signed an agreement for the supply and erection of the boiler and steam turbine and generator for the Jaypee Nigrie super thermal power project. The contract is valued at Rs 4,000 crore. - Pre-IPO placements back in vogue - Jaypee to invest Rs 1,050 cr in Assam cement plant - JAL gets HC nod for merger of group firms with itself - GI Security in pact with Canpro Global Services - L&T yet to take call on Mahindra Satyam stake sale - L&T asks Sebi to relax Satyam stake sale lock-in The project which is coming up in Singrauli district of Madhya Pradesh comprises two 660 MW super-critical units. While the contract for the Boiler Island has been given to L&T-MHI Boilers, the steam turbine generator has been given to L&T. The expected date of commissioning for unit I and unit II are 45 and 51 months, respectively. On the Bombay Stock Exchange, L&T"s shares closed on Wednesday at Rs 1,421.80, down 1.57 per cent.


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