Sahara Moves SC Against SEBI Order; Sensex Up 171 Pts

Monday, Jun 27, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version SAHARA MOVES SC AGAINST SEBI ORDER The Supreme Court will hear on July 4 a Sahara group firm's plea challenging a SEBI order directing the company to return money collected from investors through a scheme along with 15% interest. The Sahara group firm sought directions to SEBI to remove the June 23 order from its website and restrain the market regulator and its officials from publicising the order which it has challenged. read more LEAD STORIES SENSEX UP 171 PTS, OIL COS SURGE ON HIKE IN FUEL PRICES Sensex closed at 18,412.41 points supported by oil & gas stocks on prospects of a boost in their earnings. Nifty rose 55.35 points to end at 5,526.60. read more BEAR HUG? BROKERAGE FIRMS SCOUT FOR BUYERS Is the market in a bear hug? Reports from Dalal street say that quite a few brokerages are talking to banks and PE firms for stake sale. read more TOP STORIES • CAG snubs OilMin, says RIL consulted • Govt to allow $10 bn foreign investment in MFs • Takeover code meeting of June 30 postponed • Govt's version of Lokpal bill inaccurate: Team Anna • Singur case: High Court blow for Tata • SC slams UP govt over land acquisition in Noida • India Inc looks at China as FCCB crisis looms large • French major Schneider enters Indian electrical mkt • GTL, GTL Infra rope in SBI Cap to review biz • Glenmark receives clearance for $613 mn Sanofi deal • Huge overcapacity in cement worries Birla Corp • General insurance industry premium up 27% in May • Pawar seeks PM's intervention to finalise ethanol price • Ranjan Maithai is India's new Foreign Secretary • Chhota Rajan ordered scribe J Dey's killing, 7 arrested • IBN 7 journalists face Mayawati's fury • Toyota's small car Liva priced at Rs 3.99 lakh • Hague court issues arrest warrant for Gaddafi • Tablet war: HTC launches Flyer at Rs 39,890 • Global M&A deal volume hits $1.5 tn in H1; up 22% more stories TOP VIDEOS If Crude Oil And Petroleum Product Prices Fall Further, Then We Will Reduce Prices For Petrol: RS Butola, Chairman, IOC Actions That Lanco Infra Has Taken And The Comments They Have Made In Their Correspondence Has Put Our Project At Risk: Andreas Walewski, Corporate Director, Perdaman Chemicals AT A GLANCE BSE 18412.41 +171.73 NSE 5526.6 +55.35 TURNOVER Rs. 177,729 cr BSE CASH Rs. 2,527 cr NSE CASH Rs. 11,631 cr NSE F&O Rs. 163,570 cr BULLION GOLD 22123 -76 SILVER 51050 -790 CRUDE NYMEX 102.25 -0.08 BRENT 105.07 -0.05 FOREX $ / Re 45.03 +0.04 £ / Re 71.985 +0.63 € / Re 64.276 +0.97 EVENTS 27-28 June 4th Annual Conference On Solar Power In India, ITC Maurya, New Delhi 30 June Deadline For Drafting Lokpal Bill 2 July GoM To Meet For Clearance On Coal Blocks 3 July All-Party Meet On Drafts Of Lokpal Bill 5 July Karim Morani's Bail Plea 7 July Bank Employees To Go On Countrywide Strike EXPERT VIEWS "At no stage did this office (CAG) refuse any operator an opportunity to respond to observations made by us. It is for the ministry to take a view on what operator-specific points it needs to share, at this stage, with the operators." CAG Statement "A Greek restructuring would threaten the solvency of Greek banks and have repercussions across Euro Zone financial markets, possibly resulting in a sell-off in other countries' bonds. The impact of a restructuring for the stability of the financial system in Europe are not foreseeable and could eclipse the impact of the Lehman insolvency." Juergen Stark Member, ECB Executive Board "This chart (the government's comparative analysis) does not present Jan Lokpal Bill accurately. There are inaccuracies at many places, sections from Jan Lokpal Bill have also not been fully quoted at many other places. Any person reading this chart will be completely in the dark about the provisions of the Jan Lokpal Bill." Shanti Bhushan Co-Chairman, Joint Draft Committee, Lokpal Bill WATCH OUT The Firm Special with K N Vaidyanathan Watch K N Vaidyanathan, Executive Director, SEBI in conversation with CNBC-TV18's Menaka Doshi as they talk about the role of institutional investors in fostering corporate governance, the unfinished regulatory agenda for Mutual Funds and FIIs, regulatory independence and life at SEBI. SHOW TIMINGS Sat 7pm Sun 10 am