Reliance Telecom bids for 15 circles, Bharti 11

There has been a good response for the fourth cellular licences in the four metros and 17 circles, with the Department of Telecommunications (DoT) receiving as many as 57 pre- qualification bids from seven companies, on the last day of submission today. However, unlike the earlier round of bidding when there was a tremendous response from foreign multinational companies, this time around, only the domestic companies have entered the fray.

MRL board to ‘strip’ B.K. Modi of powers

The newly-appointed Chairman of Modi Rubber Ltd (MRL), Mr Panduranga Rao, today said that the MRL board had decided to 'strip' Dr B.K. Modi of his functionary powers as he had failed to give enough attention to the affairs of the company. Mr Rao also said that Thursday's purge will in no way impact the ongoing open offer." We have been compelled to transfer all areas hitherto looked after by Dr B.K. Modi to the second MD (Mr V.K. Modi) for he is not giving enough attention to the affairs of the company", Mr Panduranga Rao, who's a UTI nominee on the board, told newspersons here.

GDP growth scaled down to 5.2 per cent

The Government has revised downwards its estimate of growth in the country's real gross domestic product (GDP) for 2000-01 to 5.2 per cent against the earlier estimate of six per cent. According to the 'revised estimates' of national income released by the Central Statistical Organisation (CSO) here on Friday, the GDP at factor cost for 2000-01, at constant 1993-94 prices, has been put at Rs 12,11,747 crore, compared to the Rs 12,21,174-crore figure as per the 'advance estimate' released earlier on January 30.

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