Briefly Business

The Rakesh Mohan panel,which was set up to assist the government to frame an integrated transport policy,will hold its first meeting here on Monday....

Rakesh Mohan panel meeting on Monday

NEW DELHI: The Rakesh Mohan panel,which was set up to assist the government to frame an integrated transport policy,will hold its first meeting here on Monday. The first meeting of the committee the National Transport Development Policy Committee will be held on Monday, Mohan,who is the chairman of the high-powered committee,said.

MNP to be delayed by at least 3 months

NEW DELHI: The mobile number portability,which enables subscribers to retain their numbers while changing operators,is likely to be delayed by at least another three months till July as a system is not yet in place to roll out the service. This was decided at an internal meeting of the Department of Telecom DoT on Friday,highly placed sources said,adding the service may see light of the day earliest by July this year.

Fortis to raise debt to fund Parkway buy

NEW DELHI: Fortis Healthcare on Friday said it will fund the Rs 3,200-crore acquisition of 24 per cent stake in the Singaporean firm Parkway Holdings through a mix of loan and internal accruals. The corporate hospital chain major,however,did not specify the quantum of loan and the portion of internal accruals to be used for funding the deal. We will fund the deal through some internal accruals and the rest through a bridge-loan, Fortis Healthcare MD Shivinder Mohan Singh said.

Lyondell arranges 3.2 billion debt

NEW YORK: Having rejected Mukesh Ambani-led Reliance Industries takeover bid,global petrochemicals giant LyondellBasell on Friday announced tying up 3.25 billion worth of funds and securing court approval for its bankruptcy-exit restructuring plan. The company said the court has approved its 450-million pact with the creditors,under which they were to support the companys reorganisation plan.

Jayshree Chem floats rights issue

MUMBAI: Caustic soda manufacturer Jayshree Chemicals has floated rights issue of Rs 35.99 crore to part-finance its Rs 150 crore modernisation-cum-expansion plan of its plant located at Ganjam in Orissa,a company official said. The company is making a rights issue of 2,39,94,374 equity shares of Rs 10 each for cash at a premium of Rs 5 per equity share aggregating to Rs 35.99 crore, the release said.

File CSR report on govt website

New Delhi: The government is in the process of developing an e-form that would enable corporates to file their CSR report on the corporate affairs ministry8217;s portal. The ministry had last year released voluntary guidelines on CSR following which a number of corporates had requested the government for an effective framework for reporting their responsible business practices.