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BSNL IPO may happen in 2010-11: Disinvestment secy
The government has rapped state-owned Bharat Sanchar Nigam Ltd (BSNL) for poor financial performance and made a case for disinvestment through an initial public offer (IPO).

Case against Coca-Cola employee quashed
The Supreme Court has quashed criminal proceedings against a branch manager of Coca Cola under the Food Adulteration Act, stating that prosecution could not be initiated unless the complaint was accompanied by the report of the public analyst. This principle was laid down in the case, Saumindra Bhattacharya vs State of Bihar. In this case, a lawyer bought three bottles of Limca. When he drank one, he fell sick. He complained to Coca Cola company, which owns the Limca trademark, that the bottles contained foreign substance. It replied that it was receiving several such complaints and the bottles were being tampered with by unscrupulous elements.

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Tata Motors to launch Manza sedan next week
Tata Motors, India’s biggest auto company, will look to strengthen its presence in the sedan segment with the launch of an all-new mid range sedan, Manza, next week. It will be priced in the range of Rs 5-7 lakh. The Manza is basically the sedan version of the indigenous hatchback, Indica Vista, launched by the company in August last year. The car is aimed at arresting the company’s dwindling performance in the sedan category.
Business Ideas

Doha Bank to enter new segments in India

Doha Bank is planning to expand its operations in India by entering into new segments. The Qatar-based bank had in 2007 acquired a 49 per cent stake in Kochi-based brokerage firm Select Securities. - Hope for Spic"s Tuticorin plant - Subhiksha stores to reopen as franchises - Global cues may dampen sentiment - Analysts" corner - Indian ADRs shed $7.5 bn in a week, Sterlite top loser - ICICI Bank: Treading the conservative line">ICICI Bank: Treading the conservative line It is now planning to operate as a full-fledged commercial bank in the country, subject to regulatory approvals. “ICICI and State Bank of India already have operations in Qatar’s financial centre. We have applied for a licence to operate a commercial bank in India. The feedback from Reserve Bank of India (RBI) is positive and we hope to get the approval soon,” said R Seetharaman, chief executive officer, Doha Bank Group. The group had applied for a licence in 2005 to start commercial banking operations, but the application is still pending with RBI. Its non-banking finance company — Doha Brokerage and Financial Services — has received the regulator’s nod. The bank has planned to utilise the existing network of 150 branches of its brokerage arm and kick-start commercial banking services. E-commerce and mobile banking will be its key focus areas. Currently, Doha Bank has direct and indirect exposure of over $1 billion in India. The contribution of its Indian brokerage arm to the overall income is minuscule, even as it is open to more acquisitions for strengthening its presence in the country. In the long run, the bank is keen to venture into other segments such as asset management and insurance. “Year 2010-11 will be very crucial for us as far as Doha Bank’s presence in India is concerned,” Seetharaman said, adding this was the right time to enter the market.


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