FIs distribute only Rs 205 crore for steel projects
Mumbai: Financial institutions have disbursed only Rs 205 crore in the last three months for two steel projects, even as they sanctioned nearly Rs 2,400 crore in additional assistance to ongoing steel projects.

Disbursals have been made to Essar Steel (Rs 100 crore) and Jindal Vijayanagar Steel (Rs 105 crore) to tide over "interest payments and other immediate liabilities". Sanctions have been cleared by the respective boards of the Industrial Development of India, Industrial Credit and Investment Corporation of India, Industrial Finance Corporation of India and Unit Trust of India totalling Rs 2,400 crore as part of a bail-out package for on-going last-mile steel projects.
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DoT to retain lock-in period
New Delhi: The department of telecommunications has clarified that there will be a lock-in period of five years on the shareholding of private telecom service providing companies. This is in line with the suggestions made by attorney general Soli Sorabjee.

This is a pre-condition for the private service providers to come into the revenue-sharing system. DoT had earlier taken the stand that the lock-in period could be three years.
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Regulator stays MTNL's WLL service plan
New Delhi: The Telecom Regulatory Authority of India has stayed Mahanagar Telephone Nigam Ltd's plan to provide 'wireless in local loop' services with fixed mobility in Delhi and Mumbai. The stay followed a petition from the Cellular Operators Association of India contending the fixed mobile services under WLL will compete with the cellular services.

TRAI has also stayed MTNL's scheme not to charge a registration fee of Rs 3,000 in advance for a telephone connection from prospective internet subscribers. The scheme envisaged that the fee will be included in the first bill.

MTNL is planning to go to court against the TRAI order, its chairman and managing director S Rajagopalan said.
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