By all available indications, it is clear that Suzuki is determined to battle it out to the last to keep the Government’s nominee, Mr. R.S.S.L.N. Bhaskarudu, away from the post of the Managing Director of Maruti Udyog Limited at all costs. For, apart from moving the Indian court for “interim relief, the Japanese auto major is understood to have already approached the international court for arbitration. Besides, informed sources say that Suzuki has also kept its options open for moving the apex court in case the High Court’s verdict turns out to be unfavourable to its interests.

New World Bank plan to fight poverty

The World Bank has launched a wide-ranging plan called ‘strategic compact’ for institutional renewal which was approved by its Executive Board in March this year to render the Bank the most effective global body in the fight against poverty. In its 1997 annual report, released in Hong Kong on Friday in the run-up to the Fund- Bank annual meeting, the World Bank President, Mr. James Wolfensohn, said that “fifty years after the Bank made its first loan, we are poised to enter the new millennium with fresh vigour and more attuned to our clients’ needs than ever before”.

‘Big role for States in reforms process’

States would have to play a more important role for the reforms process to become more successful, Mr. Jemal-ud-Din Kassum, Vice-President, (Investment Operations), International Finance Corporation (IFC), said on Friday. Addressing captains of industry at a luncheon meeting organised by the CII. Mr. Kassum said this was important as several subjects requiring attention were State subjects, including minor ports.

Related Topics
comment COMMENT NOW