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Passing the buck
With the report of the special audit into the accounts of Reliance Communication (RCom) stating that the company had misclassified its income to avoid paying licence fees and overstated its mobile phone income (by around a fourth) in other ways, you’d think the Ministry of Corporate Affairs would be interested in examining the report and taking appropriate action.

Farmax Retail plans to raise Rs 500 cr
Farmax Retail (India) today said its board has approved to raise funds up to Rs 500 crore through various routes including issue of foreign currency convertible bonds (FCCBs) and global depository receipts (GDRs).

News of the day

Australian treasurer warns, unemployment to rise
Australia"s economy will likely perform under capacity and unemployment will rise, despite the country"s resilience in the face of the global downturn, Treasurer Wayne Swan said today.
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Arunachal assembly elections begin

Elections to 57 seats in the 60-member Arunachal assembly began early this morning amidst tight security. - Polling begins in Haryana - Maha polls begin amid tight security - Polling in Maharashtra, Haryana and Arunachal begins - Tough contest on cards - MNS, independents to make it a close contest - Maha, Haryana, Arunachal go to polls tomorrow Three Congress candidates, including Chief Minister Dorjee Khandu, have already been elected unopposed from the predominantly Budddhist district of Tawang. Around 7.25 lakh voters are eligible to cast their votes in favour of 151 candidates. The Congress has put up its candidates in all 60 seats. UPA allies, NCP and Trinamool Congress, have put up 36 and 26 candidates respectively. The Trinamool Congress is contesting for the very first time in the state. The BJP has put up only 18 candidates. Prominent candidates are former chief minister Gegong Apang who was elected seven times consecutively from Tuting-Vinkiong, Kameng Dolo who is trying his luck for the eighth time from Chayangtajo, former union minister Omak Apang from Pasighat West, debutant Pomaya Mithi and the wife of former chief minister and present Rajya Sabha member, Mukut Mithi from Roing. All of them are contesting on Congress tickets. There are straight fights in 32 constituencies, three-corner in 12, four-corner in nine and five-corner in four. The results would be announced on October 22.


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