infolivedaily

"We are today going to talk about a coal scam that took place or started to take place around the same time as UPAs coal scam but it took almost 14 years for it to come to light. The scam pertains to the state of Gujarat during the times when Prime Minister Narendra Modi was still the Chief Minister of the state. According to reports the scam involves 60 lakh tons of coal.

The government on February 13 filed the draft red herring prospectus to sell 5% of its equity stake in LIC in March NEW DELHI : Even as the finance ministry is keeping an eye on global market conditions and whether they warrant deferring the initial share sale of the state-run Life Insurance Corporation (LIC), it is firming up a long-term, five-year plan to divest up to 25% of its equity in the firm, two officials familiar with the matter said on condition of anonymity. That may mean the initial share sale of 5% being followed up with a so-called FPO or follow-on public offer of 5-10% more within a year, they added. Life Insurance Corporation of India Wide participation of policyholders, employees, retail investors and financial institutions will enhance transparency and efficiency in managing affairs of LIC, in which the government will always hold the majority stake and exercise management control, the two people confirmed, speaking on condition of anonymity. “After the IPO, which ha...