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No surrender fee on Ulips after 4 yrs
Irda also takes mortality, morbidity charges out of overall 3% cap

Paswan gets move-out notice
Lok Janshakti Party chief Ramvilas Paswan has finally been served a notice by the New Delhi Municipal Corporation (NDMC) to vacate the plush bungalow at 15, Janpath. Paswan — as a minister since 2002 —occupied the Type-VIII bungalow near Parliament. But in 2009 elections, his party couldn’t win a single seat. Still, Paswan didn’t show any sign of moving out of the bungalow which served as his residence as well as the party office. As many new MPs are waiting with allotment letters for the current occupants to move out, NMDC finally decided to move out Paswan.

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Police shift fasting students to hospital
Eleven students of Osmania University, who have been on an indefinite hunger strike demanding a separate Telangana state, were shifted to hospital on Monday after their health deteriorated.
Business Opportunities

IRB Infra to raise Rs 1,200 crore

IRB Infrastructure Developers is all set to raise further funds to the tune of Rs 1,200 crore through various instruments. - IRB Infra Q2 PAT jumps 80% at Rs 74.31 cr - IRB Infrastructure to raise funds - IRB Infra qualifies to bid for Rs 22k-cr road project - IRB Infra bags Rs 800-cr road project from NHAI - IRB Infra bags MIDC order for airport development - IRB Infra bags NHAI project in Punjab In its extra ordinary general meeting today, the company accorded to the special resolution for raising of funds not exceeding Rs 1,200 crore by further issue of securites in domestic as well as international markets. This will include instruments such as equity shares, warrants with non-convertible debentures under qualified institutions placement (QIP). The fund raising instruments also include foreign currency convertible bonds (FCCBs), ADRs and GDRs. The company also will go for increase in the foreign institutional investors (FIIs) investment limits upto 49 per cent of the paid up capital. The company will also borrow from one or more sources from time to time notwithstanding that the total amount of borrowings may exceed the aggregate of the paid up capital. It also made it clear that at any point of time, the total borrowings should not exceed Rs 1,500 crore. On the Bombay Stock Exchange, the company"s shares were trading at Rs 263.90, up 0.53 per cent at 1135 IST.


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