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GST to reduce tax burden on industrial sector
The implementation of goods and services tax (GST) from next financial year will result in the reduction of tax burden for the industrial sector and make it more competitive, a senior official said today.

L&T, SapuraCrest JV bags $500-mn pipe orders
Larsen & Toubro, country’s largest engineering company, along with its Malaysian partner SapuraCrest Petroleum has bagged orders worth $500 million to undertake installation of platforms and pipelines in offshore. The joint venture partners have invested $175 million to acquire a vessel to execute the orders.

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Mukesh Ambani meets Law Minister, legal experts

Amid a continuing legal battle between the Ambani brothers over gas supply, the elder of the two, Mukesh Ambani, is believed to have met Law Minister Veerappa Moily. - PMO query on Anil"s complaint - PMO seeks OilMin comments on Anil Ambani"s charges - ADAG achieves financial closure of Rs 32,000 cr - Rel Infra buys 51% stake in Reliance Cementation - Reliance Infra to enter cement business - Ambani paints rosy picture of financial services at RelCap AGM No details could be obtained about what transpired in the meeting late last night and an RIL spokesperson declined to comment. Besides Moily, Mukesh is also understood to have held extensive consultations with legal experts on the ongoing battle. On the other hand, his younger brother Anil met Telecom Minister A Raja, apart from his meetings with a battery of lawyers. Anil group"s spokesperson too declined comment. The two brothers are engaged in a long-running legal dispute over supply of gas from RIL to Anil group firm RNRL and the matter reached the Supreme Court earlier this month after the two groups moved the apex court with cross-petitions over a Bombay High Court ruling. Incidentally, the Petroleum Ministry has also filed a special leave petition, seeking direction for declaring as "null and void" a memorandum of understanding between RIL and RNRL that provides for gas supply. The Supreme Court will hear the government"s petition for admissibility, as also the cross-appeals by RIL and RNRL, on September 1.


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