Enron chief threatens India with US sanctions

In a new twist to the Dabhol power plant controversy, the US energy major, Enron, has threatened India with new American sanctions unless the company and its partners get back the full $1 billion in costs incurred in building the project in Maharashtra. "There are US laws that could, prevent the US Government from providing any aid or assistance or other things to India going forward if, in fact, they expropriate property of US companies," the Enron Chairman, Mr Kenneth Lay, said.

Maruti gearing up for launching VRS

The country's largest car maker, Maruti Udyog Ltd (MUL), is giving finishing touches to its first Voluntary Retirement Scheme (VRS) as part of its attempt to cut costs and turn profitable, top company officials said on Friday. The move could once again turn the spotlight on labour issues that affected production through a large part of the last financial year.

‘Needless charges scaring away bidders’

The dire position of a large number of public sector undertakings (PSUs) lined up for divestment together with the avalanche of allegations hurled against companies bidding for Government equity in these companies have scared away bidders, the Minister of State for Disinvestment, Mr Arun Shourie, has said. Making a statement in the Rajya Sabha on Friday in response to a calling attention motion regarding disinvestment in PSUs, Mr Shourie said that during the on-going process of carrying out disinvestment deals, the Government was faced with the harsh reality that the real position of a large number of PSUs was totally out of sync with the public rhetoric about them.

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