Thursday, Sep 08, 2011
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CAG: RIL VIOLATED TERMS OF CONTRACT IN KG BASIN
The Comptroller and Auditor General criticised Reliance Industries and the government over development of the country's key natural gas resource in the Krishna Godavari (KG) basin and called for revamping profit sharing arrangement from oil and gas blocks. The report critisized RIL for hoarding D6 exploration acreage despite lack of rigs. CAG questioned why the government allowed Reliance to enter the second and third exploration phases of the blocks without giving up 25% of the contract area in each, by treating the entire area as a discovery area. read more |
AI MOVE TO BUY 111 PLANES 'A RECIPE FOR DISASTER'
In its latest report tabled in Parliament on Thursday, the Comptroller and Auditor General has said the decision to acquire 111 planes by Air India through debt was "a recipe for disaster" and should have raised alarm in the government, the cause for the airline's massive debt liability of Rs 38,423 crore. CAG report also called the merger of Air India and Indian Airlines "ill-timed" and said that "the financial case for the merger was not adequately validated prior to the merger." (SEE 'TOP VIDEOS' -- PRAFUL PATEL DEFENDS AIR INDIA PURCHASES) read more |
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| AT A GLANCE |
| BSE | 17165.54 | +100.54 |
| NSE | 5153.25 | +28.6 |
TURNOVER
Rs. 110,758 cr
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BSE CASH
Rs. 2,648 cr
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NSE CASH
Rs. 11,360 cr
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NSE F&O
Rs. 96,750 cr
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| BULLION |
| GOLD | 27792 | +610 |
| SILVER | 65525 | +1159 |
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| CRUDE |
| NYMEX | 89.54 | +0.2 |
| BRENT | 115.76 | -0.04 |
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| FOREX |
| $ / Re | 46.185 | +0.02 |
| £ / Re | 73.96 | +0.17 |
| € / Re | 64.504 | -0.55 |
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| EVENTS |
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| 9 September |
 | 5th Global Summit On Entertaining & Media, New Delhi |
| Karnataka High Court To Hear Ex-CM BS Yeddyurappa's Anticipatory Bail |
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| 12 September |
| Investment Summit 2011, Agri, Food & Emerging Sectors, ITC Grand Central, Mumbai |
| Hearing Of Amar Singh's Anticipatory Bail In The Cash For Votes Scam |
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| 14 September |
| Results Of Cairn Shareholder Vote On Vedanta Deal |
| 3rd International Summit Cum Exhibition On Food Processing, Agri Business & Diary, New Delhi |
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| 15 September |
| CBI To File 3rd Charge Sheet In 2G Scam |
| CVC To Appear Before House Panel For Lokpal bill |
| India Infrastructure Summit 2011, Achieving The Trillion Dollar Dream, The Imperial, New Delhi |
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| EXPERT VIEWS |
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"Whatever the MPs did was right. If the BJP MPs have been arrested in the cash-for-votes then I should also be arrested. If you have arrested them, put me also in jail. They were whistle-blowers who honestly reported the matter in the House. They presented the money. That time I was the Leader of the Opposition and I know the facts."
LK Advani
Senior BJP MP
"In 2004, Air India and Indian Airlines had 93 aircraft, most of which were 20 years old. There was no way the airline could have withstood the global competition with these planes. Whatever the government did in its wisdom was to make the airline commercially viable. We had to decide immediately as to whether new planes should be bought otherwise the airline would have closed down."
Praful Patel
Former Civil Aviation Minister
"There is no attempt or intent on the part of the RBI to stop these products (teaser loans) or prevent them any way. We are only saying that there is some additional risks involved in such products and hence more provisioning have to be made for any such products."
Subir Gokarn
Deputy Governor, RBI
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| WATCH OUT |
 Tech Toyz
This week on the hype special of Tech Toyz, Suresh and gossip girl Miss Malini tell you of all the most hyped, underhyped, correctly hyped gadgets, music, movies and even stars!
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SHOW TIMINGS
Fri 6:30 pm
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