PM to address Nasscom summit in China on June 26
Bangalore: NASSCOM is holding a one-day summit titled `India & China: Challenges and Opportunities for the IT sector' on June 26 in Shanghai coinciding with the Prime Minister, Mr Atal Bihari Vajpayee's visit to the country.
The inaugural address at the summit will be delivered by Mr Vajpayee along with senior Chinese dignitaries, according to a release.
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DCA may allow companies to roll over debentures
New Delhi: The Department of Company Affairs (DCA) has in-principle agreed to the notion of allowing companies, especially unlisted ones, to rollover their debentures so long as 75 per cent of the debenture holders give their consent to such a proposal through the postal ballot.

The rollover option, with varying conditions for companies in default and those not in default, is likely to be allowed for all companies including the unlisted companies that have defaulted in repayment of debenture amount.
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ITES billing rates crash; shakeout imminent
New Delhi: Cut throat competition in the market has driven down billing rates in India's IT-enabled services industry to rock bottom levels, portending that an inevitable shakeout in the sunrise sector is just round the corner.

Industry experts say that billing rates in the ITES industry have tumbled dramatically over the last two years and this trend was more pronounced in the last three quarters.
Besides, rising salaries and other costs, coupled with the appreciation
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MTNL, ITI, TCIL drop global long distance plan
New Delhi: Close on the heels of Bharat Sanchar Nigam Ltd (BSNL), it's now the turn of the remaining telecom public sector companies - Mahanagar Telephone Nigam Ltd (MTNL), ITI Ltd and Telecommunications Consultants India Ltd (TCIL) - to shelve their international long distance (ILD) plans.

According to official sources, although unlike BSNL, all the three PSUs had not yet got the licence for offering ILD services, they had in the recent past evinced an interest to do and were on the look out for suitable joint venture partners.
With BSNL now having second thoughts
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US to tighten visa programme for executives
New Delhi: There's good and bad news for companies covered under the business express visa programme of the US embassy (now known as the business executive programme).

In what will surely come as a relief for Indian companies with strong business links in America, the US embassy in New Delhi has clarified that the BE programme is not being scrapped. However, the new tighter US visa procedure now makes personal interview essential even for applicants under BE.
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Update of Cos Act soon: Dhall
Major changes in Companies Act, 1956, would be effected shortly to usher in more reforms, secretary DCA V K Dhall said.

Speaking at an interactive session organised by PHDCCI, Mr Dhall said the department had constituted a number of committees/expert groups, including Naresh Chandra Committee-II, to further study the various aspects of the Companies Act.
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