Indian stalwarts set up cruise company
New Delhi: They are the best known Indian names in the global corporate world.
Citigroup’s Victor Menezes, Stanchart’s Rana Talwar, McKinsey’s Rajat Gupta
and Yash Nagpal, a London based software industrialist, have joined hands to set up a
cruise company with a capital of Rs. 40 crore. While
the cruise business is booming worldwide, the Indian Ocean region is the only region that
is not an established cruise destination. Named Indian Ocean Cruise Lines, the company
seeks to generate traffic in the virgin Indian Ocean region, west of Singapore. They have
already appointed another noted Indian, Jaswant Lalwani, formerly of Cunard Lines, as the
chief executive officer of the company.
The company, which plans to start with one cruise liner,
will kick off its operations in November this year. It plans to start the first cruise
from Athens to Colombo. It has secured the requisite RBI clearance to set up a liaison
office in India.
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Trai bill finally passed
New Delhi: The revised Trai bill has been finally passed by the Parliament. The new
bill seeks to strengthen the regulatory body by bifurcating it into a tribunal and a
regulator. If the bill had not been passed, the ordinance it sought to replace would have
lapsed as a result of which the old Trai bill would have come into force once again.
The Parliament passed the bill on the assurance from
the minister that the new bill in no way sought to reduce the powers under the old bill.
The new bill only sought to separate the functions of the regulator by setting up a
tribunal for adjudicating disputes.
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