Airlines
HAL plans flying hospital variant of ALH
THE Rs. 2,250-crore Hindustan Aeronautics Ltd (HAL) plans to build a flying hospital as a variant of the Advanced Light Helicopter (ALH).
Banking and Finance
UTI Bank signs MoU with Quantum Info
UTI Bank has signed a memorandum of understanding (MoU) with www.equitymaster.com, a Web site owned by Quantum Information Services Pvt Ltd, to simplify the process of share transactions.
Corporate
Bajaj Auto net up 13 pc at Rs. 613 cr
BAJAJ Auto Ltd (BAL) has ended 1999-2000 with a 13.54 per cent rise in net profit to Rs. 613.73 crores from the Rs. 540.52 crores of previous fiscal.
BOC plans Rs 40 cr provision for dues
BOC India Ltd will make a provision of about Rs. 40 crores in its accounts for 18 months to March 31, 2000, subject to approval of the board and the auditors. The board is scheduled to meet on June 2 to adopt the accounts for 18 months.
Bajaj, Honda agree not to poach staff, dealers
BAJAJ Auto Ltd (BAL) and Japanese two-wheeler giant, Honda, have agreed not to poach personnel or dealers from each other.
Brand ambassadors or brand blushes?
FIRST, it was Hansie Cronje, and now, it is Leander Paes and Mahesh Bhupathi. For suitings brand J. Hampstead _ which used these sports personalities to endorse its brand _ it is becoming more than a case of once bitten twice shy.
Filing of annual returns and accounts -- Govt proposes to extend amnesty to defaulting cos
THE Government is proposing to offer amnesty to companies that have defaulted in the filing of annual returns and accounts with the Registrars of Companies (RoC).
VST turns around, to pay Re 1
VST Industries Ltd has registered a turnaround for the year ended March 31, 2000 by posting a net profit of Rs. 15.7 crores as against a net loss of Rs. 88.87 crores in the previous year on an equity of Rs. 15.44 crores.
BIFR likely to be replaced
THE Government is considering various options such as carrying out amendments in the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), repeal of SICA and also a new system of corporate debt restructuring as an alternative to the Board for
Industrial and Financial Reconstruction (BIFR).
Courts
Additional Principal CLB Bench in Chennai
THE Government today announced the setting up of an additional Principal Bench of the Company Law Board (CLB) in Chennai, following persistent demand and in the larger interests of the public.
Foreign Trade
Mauritius-based FII investments at Rs 12,595 cr
MAURITIUS-BASED foreign institutional investors (FIIs) and sub-accounts of these FIIs have made a net investment of Rs. 12,595 crores against a total net investment of Rs. 39,947 crores by all FIIs and sub-accounts till March 31, 2000.
Information Technology
LS nod for IT Bill -- Task forces to deal with cyber crimes
THE Lok Sabha today approved the Information Technology Bill 2000, which accords legal recognition to ``electronic commerce'' transactions and prescribes stringent punishment for cyber crimes alongwith all the 34 official amendments moved on Monday by vo
ice-vote.
Nasscom sees jump in e-com deals
INDIAN industry on Tuesday welcomed the passage of the Information Technology (IT) Bill in the Lok Sabha, saying that it would give a fillip to e-commerce transactions in the country.
HCL Info with Infocus launches new projector
HCL Infosystems Ltd together with a US-based, $-390 million projector maker, Infocus, has launched a portable projector with digital video interface (DVI), as part of efforts to further strengthen their partnership in India.
Miscellaneous
`Sizzling plains perfect theatre for monsoon act'
Extreme heating of the northern parts of the country and the central plains will only hasten the further advancement of the south-west monsoon which hit the South Andamans seas on Monday exactly on schedule, according to officials in th
e India Meteorological Department (IMD) here.
Petroleum
Cairn Energy finds gas off Gujarat
CAIRN Energy India Pvt Ltd has made a significant gas discovery of 0.8 million metric standard cubic metres per day (mmscmd) in the Gulf of Khambat in block CB-OS/2 (Offshore Gujarat).
Plantations
Plantation cos told to close, pay up investors
THE Securities and Exchange Board of India (SEBI) has asked 605 collective investment schemes which have not registered with it, to wind up their operations and pay back their investors by May 28, 2000.
Policy
Parliament nod for Constitution Amendment Bill
PARLIAMENT today approved the 89th Constitution Amendment Bill which seeks to devolve 29 per cent of Central taxes to the States.
Power
Vijayanagar Thermal Power Station -- Karnataka rejects Enron's proposal for gas-based plant
THE Karnataka Government has turned down Enron's demand for conversion of the proposed joint venture Vijaynagar Thermal Power Station into a gas-based station.
Electricity Bill referred to GoM
THE electricity legislation, Electricity Bill 2000, has been referred to a Group of Ministers (GoM) for further scrutiny before it is placed before Parliament.
States
West Bengal Plan size fixed
THE annual Plan size of West Bengal for 2000-01 has been fixed at Rs. 5,658 crores, against last year's approved outlay of Rs. 5,787 crores. However, the Planning Commission has agreed to retain the budgeted size of the Plan suggested by the State Govern
ment at Rs. 6,343 crores.
IOC projects in Bengal to be over by 2003
INDIAN Oil Corporation's various projects worth Rs. 3,500 crores in West Bengal, now under various stages of execution, will be completed by 2003.
AP Telecom to cut Net access rates
ANDHRA Pradesh Telecom, which plans to establish Internet dhabas in all mandal headquarters in the State, has announced its decision to slash Internet access rates ranging from 25 to 50 per cent as also loading registration charges for basic telephone se
rvices both in urban and rural areas.
Early detection cardiac scan centre in Delhi
ESCORTS Heart Institute & Research Centre has announced the opening of ``Early detection cardiac scan centre'' in Delhi. The centre is aimed at early detection of Coronary Artery Diseases (CAD).
Orissa to unveil new industrial policy
THE Orissa Government is slated to announce a new industrial policy by July 31, 2000. A task force chaired by the Principal Secretary, Department of Industry, has been formed for the purpose. Suggestions on the proposed new industrial policy have been in
vited from industry associations such as the Confederation of Indian Industry and Utkal Chamber of Commerce & Industry, among others.
Telecommunications
Hughes Tele plans Rs 750-cr IPO
HUGHES TELE.COM (earlier Hughes Ispat Ltd) will shortly make an initial public offer of Rs. 750 crores to fund its expansion plans for offering broadband telecom services in the Maharashtra telecom circle _ including Mumbai and Goa _ for which it is lice
nsee.
