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Tuesday, July 12, 2011

Business News


  • 2G: SC to hear plea on expanding CBI probe  
  • Videocon-Datacom deal under IT lens
  • Mukesh attacks West’s charity ethos

2G: SC to hear plea on expanding CBI probe         
The Supreme Court will on Monday hear several issues related to the 2G scam, including a plea to expand he scope of CBI probe into allocation of spectrum that took place prior to 2001 and on contempt proceedings against Sahara Group chief Subrata Roy for allegedly interfering with the probe

Videocon-Datacom deal under IT lens
After Swan and Unitech, the income tax department is looking into the tax implications of a deal between Datacom Solutions and the Videocon Group after the former was allotted second generation, or 2G, licences in 21 cir cles for `1,507 crore in 2008.

Mukesh attacks West’s charity ethos
India's wealthiest man Mukesh Ambani on Sunday criticized Western philanthropy as counterproductive and said his own country's approach to charity gave more self-respect to the needy.
Ambani, who heads petrochemical giant Reliance Industries Ltd, described corporate charity in the West as “a system where the more privileged is able to share a certain proportion of their wealth with the less privileged“.
“I fundamentally believe that that kind of charity is by and large a disem powering tool. It increases dependency and reduces initiative and enterprise”, he said.