Hyderabad

Hyderabad court to hear SEBI''s plea

Hyderabad court to hear SEBI''s pleaHyderabad, Feb 18 : A city court in Hyderabad will hear a petition filed by the Securities and Exchange Board of India (SEBI) to question Satyam Computers former Chief Financial Officer, Vadlamani Srinivas and sacked Price Waterhouse auditors S Gopalakrishnan and Talluri Srinivas.

On Tuesday, the sixth Additional Chief Metropolitan Magistrate reserved orders for Wednesday after hearing arguments over SEBI''s petition.

Earlier, the SEBI had interrogated Ramalinga Raju, former chief of embattled Satyam Computer Services Limited, and his brother, Rama Raju.

Economy to turn around by October 2009: Chidambaram

Economy to turn around by October 2009: ChidambaramHyderabad, Feb 15 : Home Minister P. Chidambaram has said that the next financial year would be tough for the Indian economy, but a turnaround should come in October.

"The first two quarter will indeed be difficult. The turnaround should come some time in October 2009, or little thereafter," he said at a meeting after inaugurating a branch of the Union Bank of India in Hyderabad on Saturday.

Andhra Assembly proceeds suspended over Satyam controversy

Hyderabad, Feb 11: A day after a stormy session of the Uttar Pradesh budget assembly, the Andhra Pradesh Assembly too experienced a ruckus over Chief Minister Y S Rajasekhara Reddy''s alleged links with former Satyam Computers Chairman B. Ramalinga Raju.

According to the opposition, the newspaper "Sakshi", owned by Reddy''s son Jagmohan was funded by Raju. This, they said, showed the deep relations between Raju and Reddy family.

It was also suspected that Jagmohan''s wealth was invested in Maytas Infra, headed by Raju''s son Teja.

Hyderabad entrepreneur custom designs vehicles for polls

Andhra Pradesh MapHyderabad, Feb 10 : While the general elections are round the corner, an entrepreneur in Hyderabad is busy custom designing election vehicles for several political leaders.

K. Sudhakar, the owner of Sudha cars, who made a small fortune for himself by designing around 20 election vehicles during the last polls, has once again turned his garage into a workshop for making vehicles for his political clients.

Parsvnath Hotels gets ‘5 Star Category Project approval’ from Tourism Ministry

Parsvnath Hotels gets ‘5 Star Category Project approval’ from Tourism Ministry Parsvnath Hotels Ltd. a subsidiary of Parsvnath Developers Limited (PDL), India's leading real estate and Infrastructure Company, has received 5 star category project approval from Ministry of Tourism, Government of India for its hotel project, situated at Hyderabad.

The project spread over an area of approximately 11063.68 sq. meters area would offer a judicious blend of Shopping Mall, Office Complexes and a Five Star category Hotel.

Rain Commodities unit signs pact with IFC; Stock shoots up 9%

International Finance CorpRain CII Carbon India (RCCIL), a wholly-owned subsidiary of Hyderabad-based cement manufacturer Rain Commodities, has concluded a deal with International Finance Corp (IFC) of the World Bank to sell 850,000 carbon credits.

Under the arrangement, the company will sell all the carbon credits it generates during July 12, 2007 to July 15, 2011.

Last month, Rain Commodities Ltd, producers of calcined petroleum coke and cement has notified that Rain CII Carbon has implemented `Oxygen Lancing' at its Indian calcinations plant.

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