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New Delhi, June 26 : A delay of about a decade in installing elevators has cost a private company Rs. 6.5 lakh, with the national consumer commission fining it for deficiency in service and harassing members of a cooperative group housing society here.

OTIS Elevators was also told by the National Consumer Disputes Redressal Commission to pay nine percent interest from February 12, 2000, when the Talaganj Cooperative Group Housing Society in north Delhi's Rohini area filed a suit against the company for installing just about half of the 22 elevators for which advance payment had been made in 1998.

New Delhi, June 26 : American automobile major Ford Wednesday launched its compact sports utility vehicle (SUV) EcoSport with a starting price of Rs. 5.59 lakh (ex-Showroom Delhi).

According to the company, the new compact SUV will be available in petrol and diesel-powered variants. The petrol-powered versions are priced between Rs. 5.59 lakh and 7.89 lakh and the diesel variants are priced between Rs. 6.69 lakh and Rs. 8.44 lakh (ex-showroom Delhi).

Mumbai, June 26 : Actor Ranveer Singh has denied being a part of the Hindi remake of Ram Charan Teja-starrer Telugu movie "Magadheera."

Asked if he is part of the remake, Ranveer said: "It's not true, not right now."

"I have seen 'Magadheera' and I was absolutely blown away by it. I think Ram Charan is an outstanding talent. But no, I am not doing 'Magadheera' right now," added the 27-year-old here Tuesday at the launch of a special edition of "Mills & Boon" featuring the poster of Ranveer and Sonakshi Sinha's "Lootera" on the cover.

There is no need for pessimism as the ongoing temporary phase of economic slowdown will pass and money will flow back into India, Union Finance minister P Chidambaram said.

On the sidelines of a Crisil function on Tuesday, Mr.  Chidambaram asked investors not to become pessimistic about the Indian currency's declining value and promised that government would take more steps to boost capital inflows into the country.

He pointed out that India is the fastest growing economies among the large emerging economies, next only to China.

The process of Satyam Computer services Ltd's merger with Tech Mahindra is finally complete, Tech Mahindra Vice Chairman Vineet Nayyar announced on Tuesday.

Announcing the completion of the amalgamation process, Mr. Nayyar said that the two companies had become one, which would be called Tech Mahindra.

The Tech Mahindra Vice Chairman said, "All the process and procedures required for amalgamation of Satyam with Tech Mahindra are complete. As I speak to you now, we are one company."

State-owned firms Oil & Natural Gas Corporation (ONGC) and Oil India Limited (OIL) have signed a deal with Videocon Industries to buy its 10 per cent stake in a Mozambique gas field for around $2.5 billion.

The acquisition, which will be done through a special purpose vehicle jointly owned by ONGC Videsh (OVL) and OIL, is expected to provide India with an estimated 6 million tonnes of liquefied natural gas (LNG) per year.