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Briefly Business: CBEC freezes seven more Kingfisher bank accounts

CBEC freezes seven more Kingfisher bank accounts

Written by Express News Service | Published: March 3, 2012 12:58:31 am

CBEC freezes seven more Kingfisher bank accounts

New Delhi: The Central Board of Excise and Customs (CBEC) froze seven more accounts of debt-laden Kingfisher Airlines,taking the total tally of frozen accounts above 40. The accounts frozen are in several banks both private and public including ICICI,SBI and Axis Bank. Earlier,the cash-strapped Kingfisher had promised to pay about Rs 1 crore each day,but the company failed to do so prompting the service tax department,Mumbai,to freeze other accounts as well.

GMR Power wins R537 cr payment case against TNEB

Hyderabad: GMR Power Corporation Ltd (GPCL),a subsidiary of GMR Infrastructure Ltd,on Friday said it has won a case related to Rs 537-crore payment due against Tamil Nadu Electricity Board (TNEB).

Growth pegged at around 7.5 per cent in 2012-13

Chennai: The government has pegged economic growth at around 7.5 per cent in 2012-13. “The performance of the manufacturing sector was better than the performance in the previous quarter. Therefore,we think that this trend may continue into next year”,Prime Minister’s Economic Advisory Council Chairman C Rangarajan said.

Turkish Airlines,AI sign free sale agreement

New Delhi: Turkish Airlines and Air India have signed a free sale code-share agreement which will allow both the airlines to market each other’s flights by their own code and flight numbers on a free sale basis.

State FMs’ panel on GST to meet today

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Freeing overseas investment possible: RBI

Mumbai: A further liberalisation of overseas investment by companies can perhaps happen after the current account condition improves,Reserve Bank deputy governor HR Khan said on Friday.

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