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Satyam agrees to settle case with Upaid for $70 million
Mahindra Satyam (the erstwhile Satyam Computer Services) has agreed to pay $70 million (Rs 325 crore) as settlement to UK-based Upaid, which had claimed damages of $1 billion for alleged forgery, fraud and breach of contract.

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Onus of liability in case of nuclear mishaps
Ever since the Clinton visit, rumours have been flying fast and furious. Insiders claim that India has fast forwarded the Nuclear Civil Liability Bill, and the media has held forth at length on the probable facts and interpretations. Some angst is misplaced, for example the exclusion of the jurisdiction of civil courts.

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Dehoarding, selective import may help reduce inflation: Kaushik Basu
Measures like de-hoarding and selective import of certain items could help tame the soaring food inflation, said Kaushik Basu, chief economic adviser in the finance ministry.
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TN Housing Board to take up projects worth Rs 1459cr

The Tamil Nadu Housing Board (TNHB) is planning to carry out projects worth Rs 1,459 crore in 2009-10. The state-run agency, which is promoting affordable housing and commercial properties, is also looking at developing some of its properties through public private partnership. Sensex ends up 35pts During the financial year 2009-10, the board has proposed a budget outlay of Rs 620.15 crore to take up development activities as well as to meet its administrative, organisation and maintenance and other expenditure. As on date, the TNHB can take up construction of 9,780 dwelling units at an estimated cost of Rs 839.70 crore. TNHB has signed a memorandum of understanding with the Oil and Natural Gas Commission to construct an integrated office-cum-residential complex for the ONGC employees in Chennai at an estimated cost of Rs 70 crore over 12.12 acres. The board proposes to develop its properties at KK Nagar, Kilmudalampedu, Sholinganallur and Villivakkam in Chennai along with a joint venture partner. The proposed projects would be both residential and commercial establishments, the note said.


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