1.1:1 for Zee cos mergerMUMBAI: A swap ratio of 1.1:1 has been recommended by the board of Zee Telefilms Ltd (ZTL) for acquiring the entire shareholding of Zee Multimedia Worldwide Ltd Bvi (ZMWL) by the former.``The board considered and recommended the swap ratio of enterprise value at the rate of 1.1:1 instead of 1.33:1 as recommended earlier in the report of leading accounting firm Deloitte Huskins and Sells (DHS) for acquiring the entire shareholding of ZMWL.'' ``Consequently, 2,09,24,200 equity shares of Rs 10 each credited as fully paid-up of the company subject to and as per the terms of applicable approvals, will be issued and allotted to the shareholders of ZMWL in exchange of their entire shareholding of the ZMWL,'' it added.Jet cuts fare to AhmedabadNEW DELHI: After resisting the spread of the airfare war to new sectors for over a week, Jet Airways on Monday bowed to "market forces" by announcing reduced fares on the Mumbai-Ahmedabad route. Jet Airways will now charge aspecial fare of Rs 1995 on the Mumbai-Ahmedabad route against the previous fare of Rs 2610. This represents a 23 per cent discount. Jet move follows fare cut by market leader IA on five trunk routes ex-Mumbai on August 19.Pay taxes on time: IT chiefMUMBAI: The chief commissioner of Income Tax, K V M Pai, stressed the importance of tax payment in order to help the the government to usher into an era of peace and prosperity in the next millenium as sound financial condition of the country is the base of good government. Pai was addressing the members of Bombay Industries Association and All India Rubber Industries Association. He said out of 1000 million people only 13 million pay tax. Despite 30 per cent tax on the highest slab, there is a large scale tax evasion and said that more than Rs 500,000 crore of black money is lying in Swiss banks.
