Jet Airways Mulls To Divest 10pc Stake

Mumbai: Jet Airways India is mulling to divest 10 per cent stake of the company in favour of foreign institutional investors and private equity players. The stake sale will be carried out prior to the rights issue of equity shares via which the company plans to mop up about $400 million. The rights share issue will be unveiled when market conditions are more favourable. In January, Jet Airways'' board authorised the management to raise up to $800 million via qualified institutional placement and other modes, including the $400 million rights share issue.

RDB Industries - Change In Directorate

RDB Industries Ltd has informed about the following changes have taken place in the Board of Directors / Committees of the Company:

Mr. Ishwar Chand Parakh and Mr. Rajendra Kumar Baradia have resigned from the Board of the Company w.e.f. March 18, 2008.

Mr. Abhishek Rathi and Mr. Mahendra Pratap Singh have been inducted on the Board of the Company as additional directors w.e.f. March 18, 2008.

Mr. Abhishek Rathi and Mr. Mahendra Pratap Singh would be treated as independent directors on the Board of the Company.

Mr. Abhishek Rathi has been appointed as a member in the Audit Committee, Remuneration Committee and Shareholders/Investors Grievance Committee in place of Mr. Ishwar Chand Parakh.

Mr. Manish Kumar Jain, Director has been appointed in the Remuneration Committee in place of Mr. Rajendra Kumar Baradia and Mr. Krishna Gopal Sinha, Director has been designated as Chairman of the Remuneration Committee.

ICICI Bank - Termination Of Arrangement With The Investors For Subscription To Equity Shares Of The

ICICI Bank Ltd has informed that regard to the termination of arrangement with the investors for subscription to equity shares of the proposed new subsidiary. The said new subsidiary was proposed for transfer of ICICI Banks equity shareholding in ICICI Prudential Life Insurance Company Ltd, ICICI Prudential Asset Management Company Ltd, and ICICI Prudential Trust Ltd. The arrangement was subject to the receipt of regulatory and other approvals including that of the Reserve Sank of India, the Insurance Regulatory and Development Authority and the Foreign Investment Promotion Board, and was to terminate failing receipt of such approvals within a mutually agreed date. The agreed date has elapsed and approval of Reserve Bank of India has not been received.

In this regard the Bank has issued the following News Release on February 01, 2008:The Board of Directors of the Bank at its meeting held on March 1-3, 2007 had, subject to the receipt of all regulatory approvals, approved the transfer of ICICI Banks equity shareholding in ICICI Prudential Life Insurance Company Ltd, ICICI Lombard General Insurance Company Ltd, ICICI Prudential Asset Management Company Ltd and ICICI Prudential Trust Ltd to a proposed new subsidiary.Further, as intimated vide a stock exchange notification on June 12, 2007, ICICI Bank had received definitive offers from investors for subscription to equity shares of the proposed new subsidiary and for entering into definitive agreements for this purpose. The arrangement was subject to receipt of regulatory and other approvals including that of the Reserve Bank of India, the Insurance Regulatory and Development Authority and the Foreign Investment Promotion Board, and was to terminate failing receipt of all such approvals within a mutually agreed date. As the agreed date has elapsed and this requirement has not been satisfied, the arrangement with respect to the offers stands terminated.

ICICI Suggests A ''Lock-It-Down Strategy'' For RSP Investors

ICICI advises in the face of volatile markets that some investors might want to consider locking down their RSPs with an alternative a tax eligible GIC that earns 4.65% interest no matter what the markets are doing. An RSP GIC can be a highly effective retirement product in the face of market volatility. Customers are offered one of the best rates in the market with ICICI''s RSP strategy, and unlike other financial institutions with too many products to choose from, ICICI makes it easy for investors with two clear cut options -the RSP eligible GIC and the RSP Savings Account. The ''Lock-it-Down Strategy'' is suggested for ICICI''s RSP-eligible GICs that allow investors to add a set amount of money to their retirement plan and receive 4.65% interest. With this strategy, customers are reaping the benefits of attractive rates, guaranteed return, and minimal investment for maximum security.