9/7-Weekly Updates India and world

INDIA
Bharti mobile phone tower arm eyes $500 mln IPO – sources
HEAVYWEIGHTS RIL, ICICI, TCS PULL DOWN SENSEX 220 PTS  Sensex closed down at 18,858.04 points led by heavyweights RIL,TCS and ICICI Bank. Nifty fell 68.30 points to settle at 5,660.65. read more
SC DECLINES SAHARA PLEA ON NOTICE TO GOVT ON OFCD  The SC declined the Sahara Group’s plea to issue a notice to the government in connection to SEBI’s order on OFCD scheme. read more
MCX-SX CAN’T SEEK AUTHORISATION FROM HC: SEBI   Since the executive powers of recognising and authorizing stock exchange rests with SEBI, MCX-SX cannot seek judicial intervention. read more
GOVT MAY CHALLENGE S.I.T. PROBING BLACK MONEY   The Government is exploring legal options on the Supreme Court order to set up a Special Investigation Team (SIT) on black money. There has been a great deal of discomfort within the government post that order, which came from the Apex Court on Monday. Large quarters of the government feel that this is a situation of judicial overreach. read more  
2G SCAM: RS 7,100 CR NOTICE ON ETISALAT DB   The Enforcement Directorate has slapped a Rs 7,100 crore notice on Etisalat DB for FEMA violations. The company has been given 15 days to reply and in case of default, the company’s properties will be seized. Promoter Shahid Balwa is currently languishing in Tihar jail. read more  
WORLD
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