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UTV Software to raise $150 million
Media and entertainment firm UTV Software Communications today said it would raise $150 million (nearly Rs 750 crore) through various channels to meet its growth plans and retire debt.

Need to make SEZ laws error-free
Trinamool Congress leader and new Railway Minister Mamata Banerjee has called for a review of the Special Economic Zones (SEZ) policy. Whoever takes over as the Union commerce minister will have to do it in any case, as it is nearly four years since the SEZ Act, 2005, came into effect and over three years since the SEZ Rules, 2006, were put in place. A performance assessment can do no harm but certainly the SEZ developers who have already acquired land and sunk their money in developing infrastructure and the units, which have obtained approvals and started their operations, should not be left wondering for long as to whether any policy changes will affect them. They need to be assured quickly that any policy changes will affect only the intending SEZ developers and SEZ units.

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Sebi cracks whip on incomplete MF documentation
In a move to make the mutual fund (MF) industry more transparent, the Securities and Exchange Board of India (Sebi) today asked asset management companies (AMCs) to stop paying commissions to intermediaries, including banks and other distributors, who did not keep proper documents of their clients.
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Govt examining 11-digit mobile numbers

With the explosive growth in the mobile telephony, the government is understood to have begun the exercise to amend the numbering plan to migrate to 11-digit cellular number from the current 10-digit in order to accommodate more users. - Govt to take up $2.97 bn loan with World Bank chief - Par panel pulls up govt for withdrawing SC/ST, OBC Bill - Pharma policy likely in Budget session: Secy - India received 238 FDI proposals so far this yr - Fiscal deficit at Rs 2.45 lakh cr in Apr-Oct - CAT crash: Govt seeks report from convener A senior Department of Telecom (DoT) official said the proposal is there and a committee had suggested this. But he added that nothing has been finalised yet, therefore, no direction has been sent to the operators. According to telecom regulator Trai, the wireless subscriber base increased by 16.67 million during October 2009, taking the total number of subscribers to 488 million. According to an internal DoT note, the National Numbering Plan 2003 is to be amended for migration to 11-digit numbering plan in mobile services by prefixing digit "9". Although the DoT note said operators need to make necessary arrangements for the migration from January 1, some operators said they are not ready for such an early migration. The DoT"s technical arm, Telecom Engineering Centre (TEC), had recommended the new numbering plan. The DoT had come up with a 30-year numbering plan in 2003 but the fast growth in the telecom subscriber base has forced the authority to relook into its policy and consider 11-digit numbering system.


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