Daily News Roundup - Feb 20 2009

Satyam Computers gets the Company Law board (CLB) approval to increase its capital base and rope in strategic investor. (ET)

The cash flow estimates of RIL from sale of gas evacuated from D6 block in KG basin are likely to slip below company estimates, says company official. (DNA)

Government plans special audit on RCom and its subsidiaries. (BS)

Government says no plans to bail out fraud-hit Satyam Computers. (ET)

NALCO may incur losses for the first time in its history in 2009-10, as per CMD, CR Pradhan. (BS)

TCS working on five RFPs for e-commerce deal worth US$75-100mn. (BS)

Sebi is probing Educomp Solutions for market manipulation of its shares. (DNA)

BEL is all set to commence production of the much-expected Akash air defense weapon system. (BS)

Ashok Leyland to supply 500 more buses to Angola by March-end. (ET)

JSW Steel is negotiating a 66% lower rate for coking coal from global suppliers at US$100 per tonne. (DNA)

TV 18 promoter group pledges 32% stake. (ET)

Radico Khaitan says three of its promoters have pledged 14.86% stake in the company for an undisclosed amount. (DNA)

Torrent Power has emerged the highest bidder for the distribution franchisee for Kanpur. (DNA)

Gayatri Projects wins two orders worth Rs21.3bn from AP government. (DNA)

Dabur not planning to hive-off its retail business. (BS)

BoB may raise Rs5bn through Tier-II bonds. (BS)

HDFC Bank raises Rs3.5bn through private placement of bonds. (ET)

NIIT launches program for International Financial Reporting Standard. (BS)

Lok Housing to restate accounts. (BS)

Essar Group may make further investments in Canada. (ET)

Jet Airways may take stake in GMR MRO venture. (DNA)

Jubilant Organosys to buy back a portion of FCCBs worth US$48mn. (ET)

Subhiksha promoter opposes ‘fresh’ audit. (ET)

Inflation rate dips to a 13-month low of 3.92% for the week ended February 7, 2009. (ET)

The government has notified the new emission norms, Bharat Stage IV, effective from April 2010, which would require huge investments to upgrade the technology of popular cars. (ET)

Companies can bring in foreign capital through the issue of partly paid-up shares if these are converted into fully paid up shares in 18 months. (ET)

Pharma companies can no longer increase prices of medicines by tweaking their composition. (ET)

Domestic Airlines are looking to hire more Indian pilots following a government directive to replace their foreign pilots by 2010. (ET)

India’s tea exports are expected to touch 203mn kg in FY09 on Kenyan shortfall. (ET)

RBI to review the issue of holding companies for banks. (BS)

RBI may cut rates next week, says Moody arm. (BS)

Global IT services spent to decrease by 1% in 2009, according to results from 2009 CIO agenda survey conducted by Gartner. (BS)