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Panel recommends review of SEZ Act
The government should “revisit” its Special Economic Zone (SEZ) Act “comprehensively” and put a ban on transfer of common property and agricultural land for its implementation, a high-level panel has recommended in its report.

e-filing of returns from January
The Orissa government will introduce the e-filing of returns and e-challan for the dealers in the state starting from 1 January, 2010. The finance minister Prafulla Chandra Ghadai has approved a proposal in this regard. Initially, this will be launched as a pilot project using the portal of the State Bank of India (SBI) and the system is proposed to be expanded to all the areas of the state later, Ghadai told the media.

News of the day

UP sugar mills keep cane farmers in good humour
In the backdrop of the scarcity of sugarcane this season, the sugar mills in Uttar Pradesh are keeping the farmers in good humour by collectively making advance payment of nearly Rs 770 crore.
Public Relations

Sterlite Industries to raise funds via QIP

Sterlite Industries India, a Vedanta Group firm, today said it is planning to raise funds through the issue of securities under Qualified Institutional Placement (QIP) route. - Sterlite Energy mulls IPO to raise Rs 3,000 cr - Sterlite Energy mulls IPO to raise Rs 3,000 cr - Asarco creditors support Sterlite bid - 5 Indian firms in shortlist to exploit Afghan iron ore mine - Sterlite Q4 net dips 55% at Rs 598 cr - Grupo Mexico counters Sterlite, again Shareholders of the company have approved the resolution to issue appropriate securities to Qualified Institutional Buyers (QIBs) on a private placement basis, Sterlite Industries said in a filing to the Bombay Stock Exchange (BSE). However, the company did not disclose the size of the funds it intends to raise. Further, the mining firm"s shareholders have also approved the raising of funds through the issue of securities in the form of American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and foreign currency convertible bonds (FCCBs), it added. Shares of Sterlite Industries were trading at Rs 577.55, marginally up by 0.32 per cent in the morning trade on the BSE.


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