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UPA govt likely to face a stormy winter session
Opposition is set to rake up several issues

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SC delivers an Oracle to IT
Last week, the Supreme Court pronounced a landmark ruling in the case of Oracle India holding that the process of duplication of software from master copy tantamount to ‘manufacture’. The Apex court allowed Oracle much awaited relief with respect to a tax holiday claim available for new undertakings engaged in manufacture and processing of articles and things.

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Web Exclusive: Yields in bond market expected to remain at current levels
Despite reasonably comfortable liquidity conditions, the long term bond yields have inched up significantly during the last few months. The yield on the benchmark 10-year bond surged by almost 100 basis points between April 17, 2009 and and September 10, 2009. The huge Government borrowing programme for the current fiscal to fund the mounting fiscal deficit has largely been responsible for the spike in the G-sec yields. The net market borrowing of the Central Government through issue of dated securities in FY10 is estimated to be Rs 3,97,957 crore, of which the Government has raised Rs 2,43,911 crore so far (up to September 4, 2009; including Rs 28,000 crore of MSS de-sequestering).
Management

FPO of NTPC, REC likely in 2 months: FinMin

The Follow-on Public Offers (FPOs) of either NTPC or Rural Electrification Corporation (REC), are likely to be launched in the next couple of months, a senior government official said. - Chouhan renews demand for NTPC-BHEL plant in MP - Sunil Jain: Marketing and other margins">Sunil Jain: Marketing and other margins - Demands price parity with NTPC, RNRL for RIL gas - RIL-NTPC: PowerMin passes the buck on margin issue - NTPC"s 4,000 Mw Lalitpur proj may be shifted to Chitrakoot - REC FPO likely by Jan 2010, to raise Rs 3,200 cr Another FPO, that of NMDC, is also likely to be held by end-this fiscal, the official said. "I am quite hopeful that there will be four-five issues this year, that of REC, NTPC, Satluj Jaal Vidyut Nigam Ltd and NMDC. The toss-off for FPO is between REC and NTPC which I am hopeful will be coming through during the next couple of months," Ministry of Finance, Department of Disinvestment, Joint Secretary, Sidhartha Pradhan, told reporters here today. Pradhan said the FPO will happen as soon as the companies expedite the process of updating their accounts and getting Sebi clearance. The government is considering a policy decision on the optimum utilisation of funds raised through the FPO, he said. "A policy decision will be announced in the next couple of weeks on how best to utilise the money. It is in the offing and we have to wait for the Cabinet decision," Pradhan said.


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