SAT adjourns RIL-Sebi hearing to July 22
MUMBAI, 14 JUNE: The Securities Appellate Tribunal today adjourned the hearing on RIL plea against the Securities and Exchange Board of India (Sebi) in the insider trading case, for the fourth time in a row, to 22 July as the company sought more time to file its response.Reliance Industries counsel Mr Janak Dwarakadas informed the SAT presiding officer Mr Jog Singh that they could not file the reply as the company’s appointed person could not prepare the papers as his father was hospitalised.
The Sebi counsel noted that the continuous adjournments that the company is seeking will further delay the ongoing adjudication process into the case. pti
Engineering exports
NEW DELHI, 14 JUNE: Hit by sluggish demand in western markets such as the USA and Europe, engineering exporters are targeting up to 10 per cent exports growth in the current fiscal, the Engineering Export Promotion Council (EEPC) said today. During 2012-13, engineering exports declined three per cent to $56.7 billion compared to the previous fiscal, according to data provided by the EEPC, which is under the ministry of commerce. pti
Volvo launch
GURGAON, 14 JUNE: Swedish luxury car maker Volvo today launched its compact crossover vehicle V40 ‘Cross Country’ priced at Rs 28.5 lakh (ex-showroom Delhi) as part of plans to increase sales in India by around 50 per cent this year to about 1,200 units. The company’s Indian arm Volvo Auto India has also tied up with Bajaj Allianz for vehicle insurance in the country. “The car will bring in new impetus to our growth strategy in India,” Volvo Auto India MD Mr Tomas Ernberg told reporters here. pti