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Govt asks SFIO to start prosecution in Satyam case
The government today asked investigating agency Serious Fraud Investigation Office (SFIO) to initiate prosecution proceedings against persons involved in Satyam accounting fraud and partners of Price Waterhouse, the auditors of the IT company.

Sun Pharma uses own plants for US market after after Caraco trouble
In spite of a major regulatory clampdown on its US subsidiary, Caraco, Mumbai-based Sun Pharmaceuticals is trying hard to keep its US market share intact. The company is relying on its own manufacturing facilities to deliver goods to the US market. All eight ANDAs (abbreviated new drug applications) for sales permission in the US filed during the first quarter of the current financial year (Q1FY2010) came from Sun’s facilities.

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13 railway sidings in Keonjhar asked to stop operations
The Orissa State Pollution Control Board (OSPCB) has issued direction to thirteen Railway sidings in Keonjhar district for causing pollution.
Public Relations

Edserv Softsystems gets shareholders' nod for raising funds

Education solutions provider Edserv Softsystems today said it has received approval from its shareholders to raise funds through various options, including issuing securities of up to $500 million (about Rs 2,200 crore) in the overseas market. - Godrej seeks shareholders" nod to buy Godrej Sara Lee - Adhikari Bros completes 100% FCCB buyback - 2009 a mixed year for primary markets - IPO saga: Promoters garner Rs 20k cr; public gets Rs 20 cr - Overseas borrowings slip from October high - 17 FCCB violations investigated, says govt The shareholders, at the extra-ordinary general meeting of the company held today, approved the "issue of American/Global depository receipts or FCCB (foreign currency convertible bonds) not exceeding a sum of $500 million," Edserv said in a filing to the BSE. They also approved the "power of the company to mortgage or hypothecate the assets of the company whether movable or immovable up to a sum not exceeding Rs 2,000 crore", it said. Shareholders also approved the company"s plan to borrow up to Rs 2,000 crore from various avenues.


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