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LIC Housing Fin Q3 net up 14% to Rs 154 cr
LIC Housing Finance has posted a rise of 14.32 per cent in its net profit after tax at Rs 153.57 crore for the quarter ended December, 2009 compared with Rs 134.33 crore in the corresponding previous quarter. Its net sales during the period stood at Rs 833.61 crore against Rs 734.33 crore last year, up 13.52 per cent.

Haryana Finance Corporation told to refund money
The Supreme Court (SC) last week asked the Haryana Financial Corporation to refund the amount received from a buyer of a defaulting unit as it had not disclosed certain vital facts to the buyer. The corporation had forfeited the amount when the buyer withdrew from the contract of sale. The SC stated in the case, Haryana Financial Corporation vs Rajesh Gupta, that a “mere perusal of the provisions of the Transfer of Property Act will show that it was incumbent upon the corporation to disclose to the buyer about the non-existence of an independent passage to the unit. It was also the duty of the corporation to inform the buyer that the passage mentioned in the revenue record was not fit for movement of vehicles. The corporation also failed to show the buyer the entire documentation as required by law.”

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Tax mop-up likely to top Budget estimate: Fin Secy
Buoyed by the healthy growth in advance tax collection, the government today said the revenue realisation during the current fiscal may exceed the budgetary target notwithstanding low indirect tax collection.
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IPL 3 to begin on March 12

The third edition of the Indian Premier League (IPL) will begin on March 12 in Hyderabad with the final to be held at D Y Patil Stadium in Navi Mumbai on April 25, the BCCI announced here today. - Modi to remain IPL chairman till 2012 - IPL chief Modi denies rift with franchise owners - IPL team owners may hold back franchise payment - BCCI expands the field for IPL 2010, adds two teams - IPL sells theatrical rights for Rs 330 cr - SET Max making another pile from IPL ad revenue "The matches are going to kickoff in Hyderabad on March 12. The third place match will be held at D Y Patil stadium on April 24, while the final will also be held at the same stadium on April 25," IPL Chairman and Commissioner Lalit Modi said after the IPL Governing Council"s meeting here today. The semi-finals will be held at Bangalore, he added. Modi said two new franchisees will be added to the current tally of eight teams from the fourth season of the IPL in 2011. "There will be two new franchisees with a minimum bid price of $225 million. They will come into operation in 2011. We will follow the same process for the new teams as during the first auction," he said. Modi announced that the auction for the fourth IPL would be held between the third and fourth quarter next year. "The auction for 2011 onwards for the teams will take place sometime between the third and fourth quarter of 2010 after season three of the IPL and probably after the 2010 edition of the Champions League because we don"t want too many changes in the teams during the Champions League," he said. "The current franchisees will be able to keep a certain number of players. The modalities are being worked out and we will announce that shortly," he added.


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