Government's auditing regulator, the Controller and Auditor General (CAG) has pointed out some serious fallouts in the accounts of some government departments. CAG, in a report on government's accounts for 2007-08, tabled in parliament on Friday, holds responsibility to the finance secretary and the expenditure secretary for the report preparation and anomalies.

The report by CAG, pointing misuse of funds, maintains, "Union Government made a provision for transfer of central plan assistance of Rs51,259 crore directly to state/district level autonomous bodies... for implementation of centrally sponsored schemes."

Power and automation technologies firm, ABB India has declared its financial results, posting 11 per cent increase in its profit at Rs 547 crore for the fiscal ended December 31, 2008. The firm earned total revenue of Rs 6,967.50 crore for the fiscal as compared to Rs 6,001.40 crore during last year.

Meanwhile, the Board of ABB appointed Gary Steel as its director and chairman, who is currently serving as Head of Human Resources and Member of the Group Executive Committee of ABB group of companies.

The Company Law Board on Thursday allowed government appointed board of Satyam Computer Services to issue preferential shares by amending the capital clause of Memorandum of Association, a move that paves a way for the buy-out of Satyam Computer Services Ltd. The beleaguered software firm has been in news for financial misdoings of its former founder and CEO B RamaLinga Raju and other top executives of the company.

Spice Group has evinced interest in acquiring stake in the fraud-hit IT company.

The group said that it would invest in Satyam Computer Services only if the software company gives the majority stake in it.

The Company Law Board (CLB) on Thursday sanctioned Satyam’s plan to raise its capital to sell around 26% to a strategic investor via preferential allotment of shares.

National Security Guard (NSG) Chief J.K. Dutt on Friday met with State Chief Minister Buddhadeb Bhattacharjee to discuss the plan for a proposed hub of the NSG in the state.

Later speaking on this with the media persons, Dutt said, “The NSG's eastern India hub will come up in West Bengal. We are looking for land and the state government is cooperating with us.”

However, the NSG Chief declined to give any other details of the meeting.

The smashing success of Neeraj Pandey’s ‘A Wednesday’ -- starring Naseeruddin Shah and Anupam Kher in leading roles -- has motivated veteran South Indian actor-filmmaker Kamal Haasan to remake it in two languages.

Kamal has confirmed that he would soon come up with the remake of the last year’s Hindi blockbuster in Tamil and Telugu.

Kamal would be playing the role that Naseeruddin Shah portrayed in the original.

In the bilingual film, Anupam Kher's character would be enacted by Malayalam superstar Mohanlal.