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Over 50 industry captains attend 'Invest UP' conclave
Uttar Pradesh today organised an investors’ conclave in Mumbai, ‘Invest UP’, to promote ‘Brand UP’ before top industrialists and business houses of the country.

UP sugar mills to start crushing soon to recover losses
Despite uncertainties over cane pricing, sugar mills in Uttar Pradesh plan to commence crushing as early as possible, in order to avoid any recovery loss which may impact their operating performance.

News of the day

PNB to open 100,000 biometric ATMs by 2013
The country’s second-largest public sector lender, Punjab National Bank (PNB), has bet big on rural customers in the Indo-Gangetic plains of Uttar Pradesh and Bihar. Keeping in sync with its target, the bank unveiled its plans to open 100,000 biometric Automated Teller Machines (ATMs) in rural areas by the year 2013 for providing easy access to the illiterate and semi-literate customers.
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DoT gives Bharti a week to comply with audit queries

As part of its special audit on selected companies, the Department of Telecommunications (DoT) has told Bharti Airtel to provide all required information to the auditor by December 14. - F&O Outlook: Nifty has strong support below 5,000 - Sensex ends two-day losing streak, up 240 pts - 3G auctions run into fresh storm - Nifty has strong support below 5,000 - Bharti unit launches multiple SIM technology - 3G auction may be delayed over uncertainty of spectrum slots Contractor, Nayak & Kishnadwala, the auditor, had sought the information through two questionnaires on August 12 and September 12. The firm had asked for pending details and other information in October and November, but none of the queries had been answered. “Despite considerable time, complete information has not been provided for any of the requisitions till date…furnish the required information to the auditor within seven days from the receipt of this letter,” the department said in a letter dated December 7. Bharti declined comment. In April, DoT had ordered a special audit on five companies — Bharti Airtel, Vodafone-Essar, Tata Teleservices, Idea Cellular and Reliance Communication — to check alleged mis-reporting of revenue to evade taxes and licence fee. The audit report of Reliance Communications had already been given to DoT. The government had yesterday said RCom had caused losses of around Rs 250 crore to the exchequer by under-reporting revenues and DoT was examining the issue. However, this charge has been denied by the company. DoT has also written to all four special auditors, saying considerable time has elapsed since the original deadline. It has told the auditors the report should contain a statement on recovery of dues, wherein the demand by the department may have to be raised on the companies concerned. It also asked them to specify a tentative timeline for their reports. DoT officials said the department had also sent letters to the other three operators, Vodafone, Idea and Tata Teleservices, asking them to share the information with their auditors on time.


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