INDIA BUSINESS UPDATE - SC Asks CBI To Go After Corporates In 2G Scam; Patil Panel Says Tata, Bharti, Idea Are 2G Beneficiaries; Sensex Sheds 129 Pts

Thursday, Feb 10, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version GO AFTER CORPORATES IN 2G SCAM: SC TO CBI Broadening the net, the Supreme Court today asked the CBI to bring under its scanner corporate houses which were beneficiaries of the 2G spectrum scam without being influenced by their status - be it millionaires or whether they are on the Forbes list. Giving a free hand to the investigating agency and setting the contours of the probe, the Court asked the government to set up a special court exclusively to try the spectrum scam case. read more LEAD STORIES PATIL PANEL FLAYS TATA, BHARTI, IDEA AS 2G BENEFICIARIES The Justice Patil report says decisions taken by ministry officials may have helped telecom operators get spectrum. read more SENSEX DIPS FOR 3RD DAY; FALLS 129 POINTS Sensex slipped to 17,463.04 points as traders continued to sell on fears of rate hike by the RBI. Nifty ended at 5,225.80, down 27.25 points. read more NATION'S ACTUAL GDP IS ONLY 6%: JAIRAM RAMESH Environment Minister Jairam Ramesh said if the impact on ecology had been taken into consideration, growth would be only around 6%. read more TOP STORIES • Food inflation at 7-week low of 13.07% from 17.05% • A Raja, Shahid Balwa sent to CBI custody till Feb 14 • Awaiting spectrum from ISRO, have govt nod: Devas • Will name people with black money: Govt to SC • NYSE Euronext to be bought over by Deutsche Boerse • SC reserves verdict on CVC Thomas case • Damodaran report: zero balance on savings a/c • IOC's Rs 20k cr FPO on hold due to high crude prices • Govt approves Rs 5,732 cr PFC follow-on public offer • M&M to launch open offer for EPC stake on Apr 6 • Vodafone, Essar to name UBS for India valuation • Govt to award $11 bn fighter jet deal, biggest in 15 yrs • HAL plans Rs 20k cr modernisation; hints at IPO • MFIN to launch survey on salary structures of CEOs • Citi announces new advisory board for India • Anup Bagchi replaces Madhabi Puri-Buch in ICICI Sec • Ravi Venkatesan resigns as Microsoft India Chairman • Anshu Jain tipped to become Deutsche Bank co-head • U.S. frustrated over slow opening of Indian economy • Facebook, Google size up takeover of Twitter more stories TOP VIDEOS It Is A Positive Sign That We Are Taking Softer Issues Into Account Rather Than Just The Big Picture Fraud: Sandeep Parekh, Founder, Finsec Law Advisors Expect Inflation To Stay Around 7.75% In Q1FY12: A Prasanna, Chief Economist, ICICI Securities Nifty May Bottom At 5100, Won't Cross 5700 Soon: Vibhav Kapoor, IL&FS AT A GLANCE BSE 17463.04 -129.73 NSE 5225.8 -27.75 TURNOVER Rs. 154,679 cr BSE CASH Rs. 3,602 cr NSE CASH Rs. 14,889 cr NSE F&O Rs. 136,187 cr BULLION GOLD 20362 -38 SILVER 45632 -231 CRUDE WTI 86.59 -0.12 BRENT 4657.45 +37.32 FOREX $ / Re 45.74 +0.27 £ / Re 73.399 +0.54 € / Re 62.27 +0.2 EVENTS 9-13 February Aero India 2011, Air Force Station, Bengaluru 10-11 February 14th National Conference On E-Governance, CIDCO, Aurangabad 11-14 February 8th International Exhibition & Conference On Minerals Metals Metallurgy & Materials, Pragati Maidan, New Delhi 14-15 February 2nd Annual International Summit Coal Gas: 2011, Vigyan Bhawan, New Delhi 17 February Emerging Trends In Healthcare, A Journey From Bench To Bedside, Le Meridien, New Delhi 14-16 February 29th Annual National Conference On "Sustainable People Development: Strategic Issues & Challenges", The Ashok, New Delhi 14-15 February 2nd Annual Conference On Coal Based Power Generation, Trends & Developments, Issues & Challenges, The Imperial, New Delhi EXPERT VIEWS "If you are reporting a 9% GDP growth...The real GDP growth in terms of accounting for ecological degradation, loss of natural resources, loss of bio-diversity would probably be somewhere closer to five and half to 6%." Jairam Ramesh Environment Minister (Patil panel on spectrum allotment) "Whenever a contract is to be awarded or a licence is to be granted, there must be objectivity in the procedures for selection. It must be in tune with the requirements of law, statutory norms and prevailing policies of the government. Such procedures must also be reasonable, fair, transparent and certain. The selection of applicants must be by choice and not by chance." Shivraj Patil Justice "There have been concerted efforts to destabilise the markets and the investor sentiments. In the past two weeks, this illegal bear cartel has destroyed market value of over Rs 3 lakh crore in the infrastructure sector." Gautam Doshi ADAG Managing Director WATCH OUT Tech Toyz Are you planning to go on a business trip soon? Well, then tuning into Tech Toyz this Friday 6.30 pm would be an excellent idea. If you're every suitcase's nightmare, watch the first segment to comprehend the best ways to pack your bags for maximum gadget efficiency! If you're consistently putting your 10th grade math to test while abroad, stop. Shruti has the perfect story for you to save the most amount of money while abroad. For the best way to party it up after work, the third segment has all the fun apps around! SHOW TIMINGS Friday 6:30 pm CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO