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Rejecting the bail plea of Shahid Usman Balwa and RK Chandolia, A Delhi court said that licence granted to Swan Telecom can't be justified. Court said that as RCom was already granted 2G licence, its associate Swan Telecom can't apply for licence.

Shahid Usman Balwa is the promoter of Swan Telecom and RK Chandolia is former personal secretary of former telecom minister A Raja. Court explained rejection of bail plea as accused are "high-ranking-public-servants" and are "influential". It's very possible that they may affect investigation.

After major recall sessions in United States, Toyota will have to recall 5,202 imported cars in China. Chinese quality department asked company to rectify the issue. Otherwise, Toyota previously claimed its car in question, Lexus, has no technical defects.

On Thursday, a spokesperson of Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) asked company for an explanation for problems with imported cars Lexus. Its notice to Toyota said," make a full explanation and provide detailed technical descriptions".

Jindal Steel and Power Limited (JSPL) announced its ambitious plan of setting up biggest steel plant of world in Orissa. Jindal Steel is all set ready to commission first phase of its 6 mtpa steel project by March, 2012. Company's managing director and Vice-chairman Naveen Jindal had a meeting with Orissa CM Naveen Patnaik.

Union Mines Ministry suspended Abhay Kumar Srivastava, Chairman and CMD, National Aluminum Company Limited (NALCO). In this high profile bribery case, other names are yet to come before CBI. Srivastava is in custody of Central Bureau of Investigation till March, 3.

Mines Ministry said about this suspension in media release "Abhay Kumar Srivastava, Chairman-cum-Managing Director, National Aluminum Company Limited (NALCO) has been put under suspension with immediate effect following investigation/inquiry in a case (CBI regular Case 01/2011 of AC1 Branch) of criminal offence".

After handing a hefty cheque of interim dividend to the coal minister, Coal India Limited is all set ready to increase prices of coal by 15%. This increase will be an average and is an attempt by CIL to match international and domestic prices. A top level executive said about this price rise "We are selling coal at 50 per cent lower than imported price.

It's a good news of SBI boss O P Bhatt as finally government went on his side on home loan issue after long rounds of meetings and discussions.

There is a long-time conflicts of policy between RBI and banks specially SBI over "teaser rates". RBI wants a clear policy about these flexible-rates loans and wants more capital set aside against loans. Now according to media reports, government has cleared its stand on this. Government official said these loans should be called "terraced" loans.