Business News

• NTPC, Toshiba in talks for carbon plant
• Irda draft guidelines for general insurers
• Congress denies Shourie’s claim on 2G

NTPC, Toshiba in talks for carbon plant

NTPC Ltd is in talks with Toshiba Corp. to build a pilot project in India for capturing and storing carbon emissions, a Toshiba official said.

“The Japanese power equipment maker aims to develop its first 5MW carbon capture plant in India by 2016,“ Kenji Urai, managing director of its Toshiba India Pvt. Ltd unit, said in an interview.

The project may be similar to one set to start this year at a 47MW plant at Mikawa in Japan.

Irda draft guidelines for general insurers

New Delhi: The Insurance Regulatory and Development Authority (Irda) on Friday came out with draft guidelines for mergers and acquisitions (M&As) of general insurance companies, that man date players to explain the intent behind proposed deals.

The guidelines, once in place, are expected to usher in a wave of consolidation in the fast growing general insurance space, where many entities are looking for M&A opportunities.

At present, the Insurance Act pro vides for the M&A pertaining to life insurance companies only.

Congress denies Shourie’s claim on 2G

The Congress on Friday rebutted former telecom minister Arun Shourie's reported claim that he had apprised Prime Minister Manmohan Singh of the spectrum scam and said it was a “travesty of truth“ and is a “conscious attempt to confuse and con found“. “It is most unfortunate and most regrettable that such sweeping allegations were made against a person of impeccable integrity like the Prime Min ister...it is a travesty of truth and a con scious attempt to mislead and misin form, confuse and confound,“ party spokesperson Abhishek Singhvi told reporters.