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Infosys: Value at home
Infosys Technologies intends to ramp up business in the domestic market. It recently set up an India-dedicated unit within Infosys BPO — its business process outsourcing arm. The order book has already begun to see action, inform company executives. The domestic BPO arm has won a Rs 250-crore BPO contract from the income-tax department and is soon going to sign a letter of intent for another government deal, says Infosys BPO CEO and Managing Director Amitabh Chaudhry.

2009 - Economy wins slowdown battle; loses against prices
India achieved the distinction of being the second-fastest growing economy amid the global recession in 2009, but the joy was marred by the decade"s sharpest rise in food prices to the chagrin of common man.

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FDC closes buy-back offer; promoters' stake rises to 65.76%
Drug maker FDC today said it has bought back shares worth Rs 17.78 crore from its shareholders, following which the promoter group"s holding in the company has increased to 65.76 per cent.
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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. - States skipping GST will lose more revenue: Bhide - Talks on for selloff in 60 CPSUs: disinvestment secy - Govt may penalise oil cos failing to blend 5% ethanol - Govt may seek Russia, US advice on coal-gas project - Govt hopes to raise Rs 8,100 cr via NTPC divestment - Govt considering a more liberal FM radio policy "SFIO has been asked to begin prosecution for violation of company law in the Satyam case...It will also be against Price Waterhouse partners," a senior official of Corporate Affairs Ministry told PTI. SFIO, an arm of the Corporate Affairs Ministry, had investigated the multi-crore rupee Satyam accounting fraud and submitted its reports to the government detailing violations of company law by founder chairman B Ramalinga Raju and others. The investigating agency will initiate proceedings on about 30 charges mostly under the Companies Act 1956, while the Central Bureau of Investigation (CBI) will be acting on five or six charges involving criminal offences under the penal code. The SFIO charges deal with falsification of balance sheet and profit and loss accounts, rigging stock prices, filing of false income tax returns etc. The Corporate Affairs Ministry asked the SFIO to initiate prosecution in the Satyam case after obtaining opinion of the Solicitor General of India.


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