Briefly Business: Mahindra Satyam gets attachment order

Mahindra Satyam gets attachment order

Written by Press Trust Of India | Published: February 4, 2012 1:26 am

Mahindra Satyam gets attachment order

Hyderabad: Mahindra Satyam on Friday said it has received a provisional attachment order from the Income Tax department attaching land and buildings of the company.

Govt trying for ONGC stake sale this fiscal: DoD Secy

New Delhi: The government today said it is working on various options,including the auction route,for raising about Rs 10,000 crore through stake sale in oil major ONGC in the current fiscal.

Dr Reddy’s posts 88% jump in Q3 net profit

Hyderabad: Pharma major Dr Reddy’s Laboratories on Friday reported a whopping 88 per cent growth in consolidated net profit to Rs 513 crore for the quarter ended December 31,2011,on the back of robust Olanzapine sales in the USA.

RBI directive on loans to directors’ kin

Mumbai: Directing lenders to adhere to existing guidelines on grant of loans and advances,including spouses and children of their executives,the RBI has said banks can grant loan or advance to spouses of directors or on their behalf in case the spouse has his or her own independent source of income.

NHB organises meet on stability in housing

New Delhi: The National Housing Bank (NHB) in association with the Asia Pacific Union for Housing Finance (APUHF) and the Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD) had organised an international conference on ‘Growth with Stability in Affordable Housing Markets’ during January 30-31.

‘Don’t overstate value of house property for loans’

Mumbai: Stating that banks have been found overstating value of houses they finance by adopting practices like including stamp duty and other charges in the cost,the RBI on Friday directed lenders to refrain from such practices. “Some banks include stamp duty,registration and other documentation charges in the cost of the house property,” the RBI said.

Exposure of PSU banks to operators at over Rs 14K crore: DK Mittal

New Delhi: The government has said public sector banks have a total exposure of over Rs 14,000 crore to telecom firms whose licences have been cancelled by the Supreme Court. “Rs 14,345 crore is total exposure to telecos …Out of this Rs 2,888 crore is to big companies … which does not have security except telecom licence and assets created by these companies,” Financial Services Secretary D K Mittal said.

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