SEBI points at CSFB on irregular trades
THE preliminary report of the Securities and Exchange Board of India (SEBI) on manipulation of stock prices says that one of the sub-accounts of Credit Suisse First Boston (CSFB) was used extensively for transactions in select scrips. These transactions appeared to be part of a manipulative process, SEBI said.

New PPA of Patalganga project annulled
THE amended power purchase agreement (PPA) between Reliance Patalganga Power Ltd (RPPL) and the Maharashtra State Electricity Board (MSEB) has been annulled.

BPL Innovision cancels job offers -- `Re-engineering' costs students their future
FOR these students, the first brush with the corporate world has been rough. The youngest victims of the slowdown in the IT industry, students who thought that they had it made as engineering trainees in BPL Innovision, got a rude shock recently when the company wrote to say it was cancelling the job offers made nearly a year ago.

Otis consortium open offer for 31.1 pc stake in Indian arm
THE US-based Otis Elevator Company, along with three group firms, has announced an offer to buy 31.1 per cent equity stake in Otis Elevator Company (India) Ltd at Rs 280 per share.

United Western loses court case
THE management of the Satara-based United Western Bank (UWB) has suffered defeat at the Company Law Board (CLB) and High Court, Mumbai against a group of shareholders trying to bring in ``accountability'' in the bank's management.

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