Lehman Brothers Special Financing (LBSF) has withdrawn its winding up petition against Mumbai-based Wockhardt. Following the withdrawal, the hurdle for selling Wockhardt's nutrition business to Danone has been cleared.

Lehman withdraws winding-up petition against Wockhardt

Business Standard

Taking a dig at the UPA-led union government, Gujarat chief minister, Narendra Modi on Sunday accused the former for attacking on the federal structure of the country and encroachment on the constitutional powers of the states. He demanded a state chief ministers' meet to discuss National Counter-Terrorism Centre (NCTC).

Narendra Modi calls for state CMs' meet over NCTC

Having opened its office in Ahmedabad recently, VMware, Inc., the global leader in virtualisation and cloud infrastructure, is now looking to tap the growing demand for virtualisation and cloud computing based solutions from Gujarat.

VMware to expand cloud operations in Gujarat

The Solvent Extractors&rsquo; Association of India (SEA) has estimated a record castor seed production of 1.61 million tonnes in India for 2011-12 season (October-September), showing a growth of about 30 per cent over 1.25 million tonnes recorded last year.

India's castor seed output pegged at record 1.61 mn tonnes

With a couple of auctions remaining in the government&rsquo;s market borrowing plan for the current financial year, higher demand for the papers may help keep the yields in check, say traders.

Bond yields may ease on demand

With companies missing deadline for the National Solar Mission, NTPC Vidyut Vyapar Nigam (NVVN) has encashed bank guarantees of 14 project developers including Lanco Infratech, Aftab Solar, Amrit Engineering and Alex Solar. Of the 14 projects, Lanco is engineering procurement and construction (EPC) contractor in three.

Bank guarantees of Lanco, 13 others encashed for missing deadline

The financial sector regulators on Saturday urged Finance Minister Pranab Mukherjee to unveil investment friendly and counter-inflationary measures in the Union Budget next month.

Regulators want steps to curb inflation

A high-level safety review committee for the Indian Railways has suggested fresh tax on passengers.

Rlys need Rs 1 lakh crore to fund safety upgrade

Trades between FIIs generated a volume of Rs 24 crore on the BSE Friday-an decrease of 48.49% from Rs 47 crore clocked on Thursday. As many as four stocks witnessed trades of 5.23 lakh shares on Friday.

FII-TO-FII: Pantaloon traded at 7% premium

Lenders of ailing Kingfisher Airlines on Friday gave in-principle nod to a viability report detailing aspects such as funding arrangements, prepared by SBI Caps. Hired by the airline to assess its business and recapitalisation needs, SBI Caps pegged its short-term funding requirement at over Rs 600 crore. However, banks did not commit on fresh credit. After a six-hour long meeting at with lenders at SBI&rsquo;s headquarters in Mumbai, Chairman Vijay Mallya said it was a long-drawn and comprehensive meeting.

Kingfisher's lenders give in-principle nod to viability report

The Karnataka cabinet on Friday approved a proposal to extend several tax incentives to Honda Motorcycles and Scooters India Limited (HMSI), a wholly-owned subsidiary of Japanese auto major Honda Motor Corporation.

State's tax incentives to HMSI 

Tata Steel has requested the Orissa government to extend the Memorandum of Understanding (MoU) period for its Kalinganagar steel plant.

Tata Steel seeks MoU extension for Kalinganagar plant

The state finance department has extended the deadline for issue of allotment, sanction and release of funds, re-appropriation of funds, surrender of provisions and drawal of funds for the remaining part of the current financial year.

Finance department extends deadline for fund sanction

The Calcutta High Court on Friday granted bail to R S Agarwal, a director of Advanced Medicare and Research Institute (AMRI), who was arrested after a mishap at the hospital&rsquo;s Dhakuria unit on December 9 which claimed 91 lives. However, other four directors &mdash; R S Goenka, Ravi Todi, Prashant Goenka and Manish Goenka &mdash; were denied bail on Friday.

Calcutta High Court grants bail to RS Agarwal

In the wake of Prime Minister Manmohan Singh&rsquo;s direction to Coal India Ltd (CIL) to import coal to ensure supplies for 20 years to the power sector, the state-run coal major today clarified today that it is not in the business of imports.

CIL not in business of imports: Chairman

Rural development minister Jairam Ramesh today blamed the poor demand by women for the failure of the Total Sanitation Programme, with 70 per cent of the country still not using toilets.

Women demand mobiles, not toilets, says Ramesh

Poverty has declined marginally in India, but the country shares the top position with Afghanistan for the largest number of hungry and malnourished people, and also for the largest number of children dying in infancy, in the Asia-Pacific region, indicating the poor health and nutrition status in Asia&rsquo;s third-largest economy.

India has a long way to go

At a time when the life insurance industry is staring at its worst growth rate, the Insurance Regulatory and Development Authority is playing down the concerns of the sector. R K Nair, member (finance and investments), said at the Businesas Standard Insurance Round Table in Mumbai on Friday that after a number of good years, this was the time for consolidation, and more importantly, orderly growth.

Growth pangs of insurance downplayed

A proposed move by the Centre to slash natural gas supplies to phosphorous and potash-based (P&amp;K) fertiliser manufacturing units has seen a number of farmer bodies, agro-experts and scientists raise a howl of protest. The move could seriously impact soil fertility, which in turn could hit food production in the country, they warned.

Farmers oppose cut in natural gas supply to fertiliser units

Nasdaq-listed Silicon Image Inc is betting big on its mobile high-definition link (MHL) standard, an interface that directly connects mobile phones and other portable consumer electronics devices to HD televisions and displays.

BS Reporter