The Hindu Business Line : Friday, March 29, 2002

Hindustan Inks to expand capital base
HINDUSTAN Inks & Resins Ltd has informed the Bombay Stock Exchange that the board of directors had decided to issue further capital either by issue of fully-convertible debentures/partly-convertible debentures/equity shares or in any other ... More

ACCOUNTING STANDARDS

ICAI relaxes norms on `related party disclosure'
IN a departure from its earlier position, the Central Council of the Institute of Chartered Accountants of India (ICAI) has now held that the accounting standard on `related party disclosures' (AS-18) would only be mandatory on all listed ... More

MERGERS & ACQUISITIONS

Jumbo to buy out Indian holding in Shaw Wallace
THE Dubai-based M.R. Chhabria group has firmed up plans to buy out the entire 60.93 per cent equity in Shaw Wallace & Company (SWC) held by Indian shareholders. The acquisition will be made through Jumbo World Holdings Ltd (JWHL), Dubai, or its ... More

Haldia `more creditworthy'
INDIAN Oil Corporation's successful bid to get 26 per cent stake in Haldia Petrochemicals Ltd, complete with management control, should have a favourable long-term impact on the company's credit profile, feel rating agencies. However, caveats for ... More

Creeping limit period extended
THE Securities and Exchange Board of India (SEBI) has decided to continue with the ten per cent creeping acquisition limit for another six months, up to September 30, 2002. The creeping acquisition limit provided under Regulation 11(1) of the ... More

NEW PROJECTS

Nikhil, Acalmar edible oil refineries go on stream
NIKHIL Refineries Ltd, with an installed capacity of 200 TPD (tonnes per day), and Acalmar Oils and Fats Ltd with a similar capacity, formally began their commercial operations here on Thursday. Both were inaugurated by the Collector of East ... More

CIL shortlists 98 new projects for 10th Plan
THE State-owned Coal India Ltd (CIL) has shortlisted a total of 98 greenfield coal projects which are to be taken up during the Tenth Plan (2002-07), envisaging an investment of about Rs 24,082 crore in a phased manner. The combined annual ... More

Deepak Fert to expand capacity
DEEPAK Fertilizers and Petrochemicals Corporation Ltd plans to expand the capacity of its prilled ammonium nitrate (AN) unit in Taloja, Maharashtra, by 30,000 tonnes per year from 70,000 tonnes. The company's planned outlay for the project was ... More

Regency Pondy unit on stream
REGENCY Ceramics Ltd commissioned its plant at Karaikal on Thursday, according to a press release issued by the company here. The release said the plant had been set up at a cost of Rs 40 crore, of which Rs 22 crore had been lent by ICICI. ... More

REGULATORY BODIES & RULINGS

DCA planning random check of accounts
THE Department of Company Affairs (DCA) is weighing an option of setting up an expert group to undertake `random checks' of the annual accounts and reports submitted to the Registrar of Companies (RoCs) by both listed and unlisted ... More

ALLIANCES & JOINT VENTURES

RPL signs deals with oil PSUs
RELIANCE Petroleum Ltd (RPL) today signed individual two-year contracts with Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) to sell around 13.1 million tonnes of products per ... More

SICK UNITS

IDBI to examine IDPL plea on sale of shares
THE Industrial Development Bank of India (IDBI) has been directed by the Board for Industrial & Financial Reconstruction (BIFR) to examine Indian Drugs & Pharmaceuticals Ltd's (IDPL) request for grant of permission for selling shares to settle ... More

Kerala to approach AAIFR on Trayons closure order
THE Kerala Government has decided to appeal to the Appellate Authority for Industrial and Financial Reconstruction against the Board for Industrial and Financial Reconstruction (BIFR) decision of January 31 to close down the ailing Travancore ... More

OUTLOOK

Daewoo India mulls contract manufacturing
FACED with the prospect of not being part of the global sale of Daewoo Motor Corporation's assets to General Motors, Daewoo Motor India Ltd (DMIL), the majority-owned subsidiary of the bankrupt Korean automobile company, is mulling entering into ... More

Chennai Petro MoU sets lower target
THE memorandum of understanding, signed by Chennai Petroleum Corporation Ltd (CPCL) with the Union Ministry of Petroleum and Natural Gas, sets the company a target of 6.643 million tonnes of crude throughput. This is 7.6 per cent lower than the ... More

PERFORMANCE

APEDA award for Sri Vasavi
BANGALORE: Sri Vasavi Florex and Industries Ltd, a Bangalore-based floriculture company and part of Hyberabad-based GMR Vasavi Group, has bagged the Agricultural and Processed Food Products Export Development Authority (APEDA) award for ... More

PEOPLE

P. K. Mistry quits ACC board

NEW PRODUCTS & SERVICES

Hyundai ready for Terracan launch
HYUNDAI Motor India Ltd is looking to launch its sports utility vehicle, Terracan, in July-August. Initially, the vehicles will be brought in as completely built units and later on, when volumes go up, assembled at the company's plant at ... More

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In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Mar. 17-Mar. 23
Watching action on the shopfloor — live: DSP finds a motivating tool for workforce

Seshasayee Paper: Marketing without undue pressure

MTNL to invest Rs 300 cr in ITI -- Deal may prove a win-win for both

Consolidation among MFs: Time to tread cautiously

Bid to rejig manufacturing processes -- Production stopped at one Maruti unit

Restraint against joining proceedings in US -- Dabhol lenders get HC reprieve