· Lupin to raise limit on buying of shares
· Private firms to help Irda to check frauds
· PM body to review trade treaties today
Lupin to raise limit on buying of shares
Pharmaceuticals Company Lupin Ltd has agreed to raise the investment limit for buying its shares and convertible debentures to 33% from 24% of its paidup capital for overseas investors, the Reserve Bank of India (RBI) said on Thursday.
“Lupin has agreed to enhance the limit for the purchase of its equity shares and convertible debentures by foreign institutional investors /nonresident Indians/persons of Indian origin under the Portfolio Investment Scheme”, RBI said in a release.
Private firms to help Irda to check frauds
The Insurance Regulatory and Development Authority (Irda) has decided to appoint research organiza tions to analyse the pattern of claims to help the regulator put a lid on the insurance fraud in the healthcare sector.
“Irda proposes to enter into a partner ship with a firm or an organization to report on industry wide trends of fraud ulent behaviour affecting the insurance industry”, it said.
“The objective of this exercise is to benefit the insurance industry by developing effective reporting on industry wide fraud trends within healthcare insurance and increasing the difficulty of committing fraud against insurer”, Irda said.
PM body to review trade treaties today
The Trade and Economic Relations Committee (TERC) headed by Prime Minister Manmohan Singh is like ly to review on Friday different trade treaties being negotiated by India, including a free trade agreement (FTA) with the European Union.
The TERC will also review the state of play in the Doha Round of talks for a multilateral trade agreement under the aegis of the World Trade Organization, officials aware of the development.
The panel is also likely to clear negotiations for the India Australia FTA as recommended by the joint study group.