Month: January 2009

The government-appointed board of fraud-hit Satyam Computer Services on Tuesday announced the names of Goldman Sachs and Avendus as investment bankers. They will explore various options for the company, which include identifying strategic investors and obtaining expressions of interest from them in a fair and transparent manner. The board also appointed management consultancy Boston Consulting … Read more Goldman Sachs + Avendus – Satyam’s Investment Bankers

Reliance Infrastructure Ltd has informed FreePress that the Board of Directors of the Company had at its meeting held on March 05, 2008 approved buy-back of equity shares of the Company up to an amount not exceeding 10% of the paid-up capital and free reserves of the Company, i.e. up to Rs 800.06 crore. Pursuant … Read more Reliance Infrastructure – Buy-back of Shares Ends

The Indian rubber industry is currently facing a difficult period as prices go down rapidly amidst declining demand. The situation in the industry has changed rapidly in line with most other commodities, with rising prices taking a steep reversal after crude prices began to crash. Painting a further gloomy picture of the matter, the Rubber … Read more Rubber Industry Faces Recession

Public sector life insurance giant Life Insurance Corporation of India (LIC) is inclined to invest in Rs 4,000 crore in the equity market by March this year after pouring in Rs 31,000 crore till December. The planned investment outlay was Rs 41,000 crore for this fiscal, now has fallen short actually. The public sector insurer … Read more LIC to buy equities worth Rs 4,000 cr in March

The Indian Income Tax Department has started its independent probe of the Rs 7,800-crore corporate fraud in Satyam with focus on tax deducted at source and benami deals. However, the department has declined to give a time line for the completion of the probe, contending the duration cannot be fixed, but it would try to … Read more Income Tax sleuths start Satyam probe independently