The Hindu Business Line : Wednesday, March 13, 2002

Volvo expects to launch sleeper buses in 6 months
VOLVO India Pvt Ltd plans to introduce sleeper buses in about six months, the company's General Manager, Bus Division, Mr Akash Passey, told a press conference here today. He said that the company would raise the indigenisation level from ... More

TM International to begin Haldia operations soon
The company's board would meet shortly to finalise its business plan for the next three years. The seven-member board has four representatives from Tata Steel and three from the German partner. More

Toonz working on Unicef video

Alstom to supply steam turbine gen set to Monnet

ACCOUNTING STANDARDS

Meet to discuss Enron impact on accounting
THE International Federation of Accountants will hold a three-day board meeting in Tunisia from March 18 to discuss various issues arising out of the collapse of Enron Corporation and their implications for the accountancy and auditing ... More

CORPORATE DISPUTES

`Hungry kya' campaign gets Grey angry
ANGRY Kya? Advertising agency Grey Worldwide (India ) Pvt Ltd is seeing red over Domino's Pizza India's failure to clear its dues for the `Hungry Kya?' campaign which gave the pizza brand wide recognition across Indian homes. The agency ... More

AUDITING

DCA should reject `qualified' accounts: ICAI chief
THE Department of Company Affairs (DCA) should not accept or take on record the annual accounts of companies that have been qualified by auditors, the President of the Institute of Chartered Accountants of India (ICAI), Mr Ashok Chandak, has ... More

RESTRUCTURING

Tata Refractories to go in for revamp, focus on exports
Mr C.D. Kamath, Managing Director of TRL, told Business Line that this involved reducing plant and equipment age by 10 to 15 years over a two-year timeframe, manpower re-engineering and a qualitative shift towards high-value non-steel ... More

MERGERS & ACQUISITIONS

MTNL may take stake in Sri Lanka Telecom
MAHANAGAR Telephone Nigam Ltd. (MTNL) is considering picking up an equity stake in Sri Lanka Telecom (SLT) - the premier telecom service provider in the island nation. According to official sources, after being approached by merchant bankers ... More

Zee acquires 64 pc stake in Padmalaya
ZEE Telefilms Ltd (ZTL) announced on Tuesday that it is acquiring a strategic stake in Padmalaya Telefilms Ltd (PTL) through the acquisition of 64.3 per cent stake in PTL's holding company, Padmalaya Enterprises Pvt Ltd (PEPL). The ... More

Tulip pays up for Juhu Centaur -- Management control later
HONOURING the deadline set by the Union Government, Tulip Hospitality Services, promoted by Mr Ajit Kerkar, paid the bid price of Rs 153 crore into an escrow account for acquiring the Juhu Centaur property of Hotel Corporation of India ... More

Dr Reddy's to buy two UK-based cos
IN a move that enables a smooth entry into the UK generics market, Dr Reddy's Laboratories Ltd, the Hyderabad-based pharma major, is set to make its first overseas acquisition next month by taking over two UK-based privately-held pharma ... More

UB to merge Millennium with S&N joint venture
AS part of the consolidation exercise by the UB group, Millennium Alcobev Ltd (MABL), a group company, is likely to come under the fold of the proposed joint venture company with European brewer, Scottish & New Castle (S&N). In fact Mr Ravi ... More

Akzo Nobel stake in Infar crosses 97 pc
THE 938-million euro Dutch multinational company, Akzo Nobel, has already bought over 97 per cent stake in Infar India Ltd in its bid to make the company its wholly-owned subsidiary. According to industry sources, once the buyback process is ... More

NEW PROJECTS

Ministry studying CSL expansion
THE Union Shipping Ministry is considering a proposal submitted by Cochin Shipyard Ltd (CSL) to expand the ship repair facilities at an estimated cost of Rs 98.38 crore. The expansion proposal involved installation of 120 M ship-lift system ... More

Spice Telecom to spice up its act -- Plans Rs 50-cr expansion
SPICE Telecom, one of the two mobile phone service operators in Karnataka, will be investing Rs 50 crore this year to expand its infrastructure. It also hopes to double its present subscriber base of 1.5 lakh in the next two years and sharpen its ... More

Tafe Access to take up more auto dealerships
TAFE Access Ltd, a subsidiary of Tractors and Farm Equipment Ltd of the Chennai-based Amalgamations group, plans to take up more automobile dealerships. Currently, Tafe Access Ltd (TAL) has a dealership for Tata Engineering's multi-utility ... More

Mahindra Holidays expands into North
MAHINDRA Holidays & Resorts India Ltd has added four northern hill destinations to its network. The company, which is primarily into time-share, has a presence in Goa and Munnar and has now expanded to the hill stations of Manali, Mussoorie, ... More

REGULATORY BODIES & RULINGS

Cap on investment arms of corporates under study
THE Government is considering a proposal to limit the number of investment firms that can be floated by a company or a corporate group. The Department of Company Affairs (DCA) has already set up a five-member committee to examine the prospects ... More

SEZ norms likely to be eased
THE Department of Company Affairs is considering a set of proposals to ease the various company law requirements for companies established in the special economic zones. Besides the incorporation of a separate limit for managerial remuneration ... More

OUTLOOK

Asianet earth station by May
ASIANET Communications Ltd's earth station being set up at Thiruvananthapuram at a cost of $1 million will be ready for uplinking in May 2002. This move is expected to result in cost savings for the channel, currently uplinking from Chennai, ... More

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US-64

Looking back
Mar. 3-Mar. 9
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