Daily News Roundup - Jan 22 2009

LIC and ICICI Prudential Life Insurance are supporting L&T’s move to acquire Satyam. (BS)

L&T to present revival plan to Satyam board. (ET)

Satyam gets termination notice from two clients. (BS)

The Company Law Board restrained the key personnel of erstwhile Satyam management from selling any movable and immovable properties. (BL)

Tata Steel to sell aluminium smelters of Corus to Klesch & Co.. (ET)

Patni and General Atlantic may team up to acquire Satyam. (ET)

Bajaj Auto plans to manufacture gearless scooter. (BL)

HCC plans IPO for Lavasa project by 2010. (BS)

Genpact and Quatrro interested in buying parts of Satyam business. (BL)

Maharashtra government cancels the Rs4.8bn contract given to Maytas Infrastructure earlier. (BS)

Tata Motors launches its pre-owned car business, christened Tata Motors Assured, in major cities. (BS)

Tata's acquires 30% stake in Neotal, increasing the total stake to 70%. (FE)

Petron Engineering bags Rs87mn order to setup electrical erection power plant from Lanco Infratech. (FE)

Unitech puts on hold Sonepat SEZ in Haryana. (FE)

Kesoram Industries to halt production at its Orissa plant amid slowdown in demand. (FE)

Bajaj-Auto to roll-out Kawasaki and Ninja bikes in India. (FE)

The joint venture between ONGC and SCI to build rigs has not taken off due to the easy availability of rigs. (BS)

Refex Energy Ltd to invest Rs10bn for setting up a 50MW solar power plant in Gujarat. (BL)

Royal Orchid ties up with Vaswani group to launch service apartment. (BL)

Whirlpool eyes over 20% market share in consumer durables segment by the end FY10. (ET)

NPCIL plans to raise Rs350-400bn by debt over next five years to meet the requirement of the civil nuclear program. (ET)

Big Bazaar, a part of future group, to open 40 new outlets by June '09. (ET)

Sebi has made it mandatory for promoters to disclose details of shares pledged by them in their listed entities. (BS)

On account of lower tax receipts, States have asked the Centre not to reduce the central sales tax (CST) rate by one percentage point from April this year. (BS)

The Centre and the states may reach an agreement to have 16% rate for goods and services tax (GST), which will be implemented from April 2010. (BS)

The Tamil Nadu government, along with the Tamil Nadu Electricity Board (TNEB), is planning to add 4,300MW power by 2011-12, with an investment of Rs222bn. (BS)

Government may extend fresh Rs50bn credit line to NBFC and AFCs. (ET)

India may face deflation between March-June'09, says Pronab Sen (Chief Statistician of India). (ET)

Exporters are likely to get fresh dose of subsidies. (FE)

Government rules out import duty on crude palm oil. (FE)