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FinMin keen on ONGC, Indian Oil FPOs
The finance ministry is keen on selling stakes in Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC), but follow-on public offers (FPOs) in the two bluechip public sector units (PSUs) are unlikely, as unresolved issues are affecting valuations. Disinvestment Secretary Sunil Mitra last month wrote to his counterpart in the petroleum ministry, R S Pandey, seeking comments on “public offerings from the government’s shareholding” in ONGC and IOC. The petroleum ministry is of the view that raising funds from the capital market was not prudent till issues like fuel pricing and subsidies were resolved, which were affecting share prices of ONGC and IOC, sources in the know said.

VE Commercial Vehicles' October sales up 65%
Auto maker VE Commercial Vehicles today reported 65.11 per cent growth in its total sales of Eicher trucks and buses in October at 2,257 units.

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V V: Berlin Wall, 1989 and after
All successful publishers and authors have an impeccable sense of timing and generate literature with an eye upon the calendar. So it isn’t surprising that we have a flood of books on the fall of the Berlin Wall that started the process of disintegration of the Soviet Union and the collapse of communism in Europe. But what we have is an embarrassment of riches which try to unravel why such an all-embracing system that Alexander Solzhenitsyn described as “all pervasive, paranoid, oppressive, incompetent, lethal” in the latest edition of The First Circle (Harper, $18), came to an unexpected end. Almost everyone had expected that it would have to be killed; instead it collapsed, as if a house had fallen in on itself. What happened?
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HC quashes Anil Ambani's Dadri land acquisition

The Allahabad High Court today quashed UP government"s notification for use of emergency powers to buy land for Anil Ambani group firm"s Dadri power project, side-stepping a provision for inviting objections from land owners. - RInfra bags Rs 1,725 cr road project - Mulayam raises RIL gas issue in House - Gas row: RNRL raises objections on govt affidavit - Piramal Healthcare okays Rs 1K cr fund raising - Ambani brothers" gas row has echo in LS - HCL BPO eyes UK, US buys in media , entertainment The state government would now have to invite objections from farmers, who have the option of either returning the money to reclaim the land or forfeit any claim. The agitating farmers and Reliance Natural Resources (RNRL) gave different interpretations of the order, with Anil Ambani group official J P Chalsani contending that land acquisition for Dadri project has not been set aside as claimed by the other side. Passing the order, a Division Bench comprising Justice Ashok Bhusan and Justice Sudhir Aggrawala said that all "subsequent proceedings consequent to the notification of February 11, 2004, including the notification under Section 6 of June 25, 2004 are quashed". The 7,480 Mw project, land for which was acquired by the Mulayam Singh Yadav government in 2004, has become a bone of contention between the Ambani brothers Mukesh and Anil, who are involved in a bitter legal battle in the Supreme Court over supply of natural gas. Anil Ambani group has charged Reliance Industries of reneging on its commitment to supply gas, which it claimed had rendered the project non-bankable. RIL, on the other hand, had also argued in the apex court that the project was not on the ground and hence, the gas could not be given.


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