SEBI unearths Rs 1,000 crore scam at Austral Coke
SEBI Says
-IT Department found bogus transactions worth Rs 1,000 crore
-Have found prima facie evidence of corporate fraud
-Alert: IT Dept raided Austral Coke premises on June 23
-Rs 142 crore IPO funds diverted via bogus transactions
-Bars Austral Coke from raising fresh capital
-Alert: Company's September 3 board meet planned to discuss Rs 970 crore QIP (qualified institutional placement)
Austral Coke says IT Dept yet to revert to company's response; to present its case before SEBI on September 9
Tata Motors August (YoY)
-Sales at 49,810 units versus 43,600 units
-Local commercial vehicle sales at 29,762 units
-Passenger car sales up 26% at 20,146 units
-Exports at 2,684 units versus 4,772 units
-Sold 2,501 Nano cars
-Issue of 2 lakh shares & 1 lakh convertible warrants @ Rs 80 on preferential basis to Darashaw & Co
-Issue of 50,000 shares & 50,000 convertible warrants @ Rs 80 on preferential basis to other investors
-Issue of 7.3 lakh convertible warrants @ Rs 78 to promoters & other investors on preferential basis