Ahmedabad: The Gujarat high court on Friday turned down a plea by Gujarat State Petroleum Corp. Ltd (GSPC) against a Union government notification for pool pricing of long-term and spot liquefied natural gas, or LNG, by India’s biggest gas distributor, GAIL (India) Ltd.
GAIL had announced pooling prices of LNG landing at Petronet LNG Ltd’s Dahej facility, which was opposed by its customers GSPC and Essar Steel Ltd.
A senior GSPC executive said they would wait for the final copy of the judgment before going in appeal.
Champagne Indage buys Australian winery
Mumbai:Champagne Indage Ltd on Friday said it has bought VineCrest, a premium winery in Australia. The company said its units plan to acquire more wine businesses in South Africa, UK and South Australia. Staff Writer/ Reuters
EZone sees turnover of Rs3,000 cr by FY11
Bangalore: EZone, the electronics specialty store from the Future Group, said it expects turnover of Rs2,500 crore to Rs3,000 crore by fiscal 2011.
The turnover estimates also include revenues from Electronics Bazaar, the company’s value electronics retail format, said Manoj Kumar, chief executive, eZone and Electronics Bazaar. Deepti Chaudhary
IFC, StanChart launch credit-linked notes
Mumbai:International Finance Corporation (IFC), the private sector branch the World Bank, and Standard Chartered Bank Plc. said they have launched credit-linked notes (CLNs) to microfinance institutions in Africa and Asia. IFC will invest $45 million (Rs192 crore) in these CLNs. Anup Roy