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UCO Bank seeks shareholders' nod for fund raising
Public sector lender UCO Bank today said it will convene a meeting of its shareholders to decide whether it should come out with a follow-on public offer (FPO) or placement of shares to qualified institutional buyers to raise funds.

Future Group expands menu; to set up hotels in next 6 mths
Kishore Biyani-led Future Group is planning entry into hotel business and may set up the first one in the next six months.

News of the day

CCPA meet likely to discuss Telangana issue
A meeting of the Cabinet Committee on Political Affairs (CCPA) is scheduled this evening to make an apparent bid to find a way out in the wake of the crisis triggered by the decision to carve out a separate Telangana.
Public Relations

Land for gas pipeline: SC notice to Reliance

The Supreme Court today issued notices to Reliance Gas Transportation and Infrastructure Ltd, and the Ministry of Petroleum and Natural Gas on the appeals moved by more than 50 land owners of Surat, alleging that the Mukesh Ambani-led company had not paid them adequate compensation for acquisition. Their land will be used for laying pipelines to transport gas from the Krishna-Godavari basin to Gujarat. - SC notice to CBI on PW auditor"s bail plea - SC notice to GSK Consumer on Heinz India"s plea - GSPL to bid for mega gas pipeline projects - Latha Jishnu: Hole in the gas pipeline">Latha Jishnu: Hole in the gas pipeline - Latha Jishnu: Blockages in the gas pipeline">Latha Jishnu: Blockages in the gas pipeline - GEECL completes laying gas pipeline from Asansole to Durgapur The farmers have also asked the government to rehabilitate them adequately by allotting alternative plots. The order was passed by a bench headed by Justice B Sudershan Reddy. A few days ago, another bench headed by Justice P Sathasivam issued notice to the company on appeals challenging the constitutional validity of the Petroleum and Minerals Pipelines (Acquisition of Right of User in Land) Act, 1962. The appeals allege that the compensation provisions in the Act are arbitrary. They allege that under Section 9 of the Act, no construction or agricultural activity is allowed on the land under which pipelines are laid as they may cause damage to the pipeline. Their appeals contend that “the difference between acquisition of the land and acquisition of the right to use the land is a statutory fiction created only with a view to intentionally reduce the compensation, which should be paid to the land owner”.


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