Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

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Cabinet approves 10 percent stake sale in Engineers India - minister

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NEW DELHI | Thu Jan 10, 2013 1:17pm IST

NEW DELHI (Reuters) - The Indian cabinet approved the sale of a 10 percent stake in state-run Engineers India Ltd (ENGI.NS), a government minister told reporters on Thursday, continuing a process of off-loading state assets to shore up strained government finances.

The minister declined to be named.

The government aims to raise 300 billion rupees from share sales in state-run companies in the fiscal year that ends in March. Thus far, it has managed to garner just under 25 percent of that target.

(Reporting by Nigam Prusty; Editing by Sunil Nair)
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