PRESS DIGEST - Indian Business News - April 13

MUMBAI, April 13 (Reuters) - Indian newspapers carried the following stories in their print or Web editions on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

ECONOMIC TIMES (www.economictimes.com)

* JK Tyre & Industries Ltd (JKIN.BO) is going ahead with its expansion plans and will invest around 5 billion rupees in the next 18 months despite a slump in demand, taking tyre production to over 9 million a year.

* The Reserve Bank of India is planning to do away with the mandatory requirement of submitting audit certificates from chartered accountants establishing the product being exported, to avail the 2 percent discount from banks.

* UK's United Biscuits is exploring manufacturing and marketing tie-ups in India and is in talks with several biscuit companies including Parle Products.

DAILY NEWS & ANALYSIS (www.dnaindia.com)

* India's top software exporter, Tata Consultancy Services (TCS.BO) has brought about 10 percent of its UK workforce back to India. UK staff strength stands at 4,500 after the relocation.

BUSINESS STANDARD (www.business-standard.com)

* India's top car maker Maruti Suzuki (MRTI.BO) is working on plans to launch electric cars and compressed natural gas variants for three or four models in the domestic market as part of its strategy to develop small cars running on alternative fuel technology.

* Indian state-run explorer Oil and Natural Gas Corp (ONGC.BO) is shelving a proposed wind energy project in the southern state of Karnataka, but is going ahead with a second one in Gujarat.

MINT (www.livemint.com)

* Delhi International Airport plans to award retail concessions based on a revenue sharing model, with the winning bidder required to form a joint venture with the airport operator.

* The founder of Jain Irrigation Systems Ltd (JAIR.BO) and his sons have signed agreements to forbid the sale of shares from their core holding in the drip irrigation firm and are working to create a structure to hold their promoters' stake in a trust.

* Kumar Mangalam Birla, chairman of the Aditya Birla Group, has decided not to convert preferential warrants worth 40 billion rupees in the group's subsidiary Aditya Birla Nuvo Ltd (ABRL.BO).

TIMES OF INDIA (www.timesofindia.com)

* Tata Capital plans to raise between $500 million and $1 billion through its private equity arm.