Editor's Desk

Wipro ineligible for World Bank contracts

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Wipro Technologies, the global IT services business of Wipro, announced that in connection with revised disclosure policies, Wipro and the World Bank are disclosing that in June 2007 the World Bank determined Wipro to be ineligible to contest direct contracts from the World Bank for the period 2007-2011. In 2000, in connection with its Initial … Read more Wipro ineligible for World Bank contracts

Income tax Departmnt Slams ICAI + Withdraws Exemption

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Reporting violations of tax laws by the chartered accountants regulator Institute of Chartered Accountants of India (ICAI), which had dubbed accounts fudging in Satyam Computer as shameful, the Income-Tax department has withdrawn tax exemptions given to the body. A panel for tax assessment found violations such as failure to get the accounts signed by auditors, … Read more Income tax Departmnt Slams ICAI + Withdraws Exemption

Burnpur Cement – Combine Phase I + II of Patratu Project

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Burnpur Cement’s board, at its meeting held on January 10, 2009, has given an ‘in principal approval’ for combining the Phase I and Phase II of the Project at Patratu, considering, the market potential, specially in eastern part of the country and for other technical reasons, subject to availability of fund to finance the enhanced … Read more Burnpur Cement – Combine Phase I + II of Patratu Project

CARE assigns AA+ rating for Tata Chemicals NCD issue

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Credit rating agency CARE has assigned the ‘CARE AA+’ rating to the non-convertible debenture issue by Tata Chemicals to the tune of Rs 240 crore. Instruments holding the CARE AA+ rating are considered to be highly safe and have a timely service of debt obligations. The key rating was awarded to Tata Chemicals due to … Read more CARE assigns AA+ rating for Tata Chemicals NCD issue