Enron delays DPC closure notice
Mumbai: Enron said on Monday it had to delay serving a final termination notice to officially close the Dabhol Power project in India.

The Dabhol Power Company, was originally going to serve the notice to the Mahrashtra State's Electricity Board after November 19 when the six-month deadline for resolving a payment dispute ends.
But it now has to wait until after December 3 because Indian banks and financial institutions that have lent money to Dabhol Power recently filed the lawsuit to ensure they get their funds back.
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I-Flex wins UBS Warburg deal
New Delhi: I-Flex Solutions Ltd on Monday said that it had won a contract for its banking product, Flexcube, from investment bank UBS Warburg.
UBS would use the software globally to manage its cash, it said.
I-Flex will work with London-based UBS Warburg to implement the product in phases in Europe, North America and Asia, the statement said. Flexcube is i-Flex's flagship product.
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Infosys, BSES best governed company
New Delhi: Infosys Technologies and BSES on Monday bagged the ICSI National Award for excellence in corporate governance.

Vice-President Krishan Kant presented the "Best Governed Company" award to Infosys co-founder K Dinesh and the "Second Best Governed Company" to BSES chairman R V Sahi at a function organised by Institute of Company Secretaries of India here on Monday.
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IOC raises Rs 4bn loan
Mumbai: Indian Oil Corporation has raised Rs 4 billion through a syndicated rupee term loan.
The interest rate payable on the one-year unsecured loan would be 25 basis points above the three-month commercial paper reference rate and would be reset quarterly.
"The syndication has been oversubscribed with confirmed commitments from 11 banks," Standard Chartered, the lead arranger and book runner, said in a statement.
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BRPL refinery shut for modifications
New Delhi: The Bongaigaon Refinery and Petrochemicals Ltd has shut down its crude distillation unit for modification and renovation to process imported crude oil.
The refinery has an annual capacity of 2.35 million tonnes.
The refinery would remain shut untill the first week of December.
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Zensar signs JV with a HK firm
Hong Kong: A unit of Hong Kong's Asia Logistics Technologies and Indian software firm Zensar Technologies have signed a deal to establish a China-focused consulting and software joint venture.
Zensar is a joint venture of RPG Group and UK-based ICL, a unit of Japanese electronics company Fujitsu.
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Tata AIG launches new group insurance
Mumbai: Tata AIG Life Insurance Company on Monday launched a mortgage reducing term insurance programme, a group insurance policy, with Tata Homefinance.
The programme is a voluntary insurance plan offered to the housing loan customers of Tata Homefinance and insures the home by settling the mortgage outstanding in the event of loss of life, a Tata release said here.
In addition, the programme also offers an optional cover for total and permanent disability, it added.
The release said the benefits of the plan were arranged through the policy purchased from Tata AIG. The policy holder will be Tata Homefinance and borrowers would be able to opt for the insurance cover at time of taking a mortgage loan from them.
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PFC garners Rs 354 cr from bond market
New Delhi: Power Finance Corporation (PFC) has mopped up Rs 354 crore from the bond market last week taking its total borrowing to over Rs 1,970 crore during the current financial year.

The corporation raised Rs 354 crore with an oversubscription of Rs 104 crore from the bond market at a coupon rate of 9.70. The corporation has decided to retain the oversubscription.
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Strike paralyses Indian Rayon's Veraval plant
Mumbai: Indian Rayon and Industries Ltd informed the Bombay Stock Exchange that operations at its rayon division's plant at Veraval, Gujarat were halted by a workers strike.
In a notice dated November 15, Indian Rayon, part of the Aditya Birla group, said that no workers at its rayon division reported for work on November 14.
"In view of the illegal strike, the company has notified to the workmen that it will not be possible to continue to work at the factory," it said.
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Grasim enters bond market
New Delhi: Grasim Industries entered the bond market on Monday to mop up close to Rs 200 crore with a finely priced paper.
Grasim, which had raised some Rs 100 crore through commercial papers recently, floated a five-year paper with a fixed coupon of 8.85 per cent.
Till Monday afternoon the company had mobilised Rs 175 crore.
Investors include ABN Amro Securities, Bank of Baroda, IDBI Bank and Standard Chartered Bank.
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Hero Honda to increase capacity
New Delhi: Hero Honda Motors Ltd plans to expand its capacity beyond 1.5 million vehicles by the end of the current financial year. The countrys largest motorcycle manufacturer would invest about Rs 50 crore-70 crore in the second half of the 2001-02 financial year and raise production capacity marginally to about 1.55 million vehicles.
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