The Hindu Business Line : Wednesday, June 26, 2002

Praj expands R&D centre
PRAJ Industries Ltd has expanded its research and development, renaming it `Matrix — the innovation centre'. The centre would work with grass root-level development programmes and convert them into viable technological solutions for ... More

ANNOUNCEMENTS

Usha Martin may sell Bangalore property
THE Usha Martin group plans to sell its 20-acre land near Whitefield, Bangalore to part-fund its new proposed steel plant, real estate sources said. The company is also likely to sell its rolling mill near Agra to supplement its fund inflow, ... More

Trigyn to liquidate UK unit
MUMBAI: Trigyn Technologies Ltd, UK, has been put into voluntary liquidation to eliminate operational losses and in view of profitability and cash flow issues, a statement from Trigyn Technologies Ltd said. Trigyn-UK is a ``third ... More

COURTS/LEGAL ISSUES

Bharti towers: HC restrains civic body
MR Justice Bhaskar Bhattacharya of the Calcutta High Court extended the interim order passed on May 24, 2002 till June 28, 2002, restraining the Calcutta Municipal Corporation (CMC) from demolishing the towers built by Bharti Mobitel Ltd (BML) ... More

INFORMATION TECHNOLOGY

Eye to eye — with the Systems guy
The IT-shy CEO and the Systems Department don't always have to be at loggerheads. They can hit it off if certain thumb-rules are followed. More

TAXATION

ST deferrals: Probe at India Cements
AS part of its investigations into alleged irregularities in availing of sales tax deferral benefits, the Tamil Nadu Commercial Taxes Department on Tuesday carried out enquiries at India Cements Ltd. Official sources said that the checks were ... More

MERGERS & ACQUISITIONS

M&A activity falls 19 pc in H1
AFFECTED by a sluggish global environment, India, like the rest of the world, saw a decline in mergers and acquisitions (M&A) during the first half of 2002. According to a report prepared by consultancy firm KPMG, during the current year (up ... More

REGULATORY BODIES & RULINGS

HC upholds CLB right to reject preliminary objections
THE Madras High Court has held that the Company Law Board was the final fact-finding authority, and the petitioner had a right to lead evidence before the board. Hence, the question of fact regarding waiver, estoppel or acquiescence could not be ... More

Plans to update RoC offices
THE Department of Company Affairs (DCA) has planned to modernise and overhaul the functioning of the Registrar of Companies (RoC) offices. In this connection, it has undertaken computerisation of these offices and plans to provide most of ... More

TRADE & LABOUR UNIONS

Sale of SAIL stockyard put on backburner
THE sale of the SAIL stockyard at nearby Tripunithura is understood to have been shelved for the time being under pressure from the trade unions and the State Government. SAIL had advertised to sell the land and the infrastructure some time ... More

INTERVIEW

Garments matter as much as life-style brand for Crocodile
WHILE many garment firms well entrenched in exports are drawn to the growing potential to sell their labels in domestic market, Crocodile Products Pvt Ltd, the joint venture garment company promoted by the city-based Shivrams Associates and ... More

SICK UNITS

ICICI grants debt revamp package to Alufluoride
PROVIDING a major relief to Alufluoride Ltd, the Vizag-based aluminium fluoride manufacturer currently suffering severe cash crunch, ICICI has sanctioned a sizeable debt-restructuring package. According to the Alufluoride Managing Director, Mr ... More

OUTLOOK

Hind Lever to gain
THE Union Cabinet's decision allowing 100 per cent foreign direct investment (FDI) in tea plantation could well pave the way for Hindustan Lever Ltd (HLL) to increase foreign institutional investment in the company from 24 per cent to 49 per ... More

Birla VXL looking for contract manufacturers
BIRLA VXL Ltd, belonging to the SK Birla Group, is looking for contract manufacturers to meet its commitment to Levis, the world's largest textile brand. The company has already got two such manufacturers in Bangalore and Noida, in addition to ... More

indiamarkets reports break-even in Q4
IT could be the first win for a dotcom. A pioneer in the Indian business-to-business (B2B) space, e-procurement marketplace indiamarkets.com reported break-even in the fourth quarter of last fiscal. The company, which facilitated transactions ... More

Rayon bets on mix of old and new
THE portfolio of Indian Rayon and Industries Ltd (IRIL) in the future will be a balance between asset-intensive and not so asset-intensive businesses. "This does not imply that we will ever lose focus of our businesses such as VFY, carbon ... More

PEOPLE

Dhirubhai Ambani in critical condition
MR Dhirubhai Ambani, founder and Chairman of the Reliance group, is in a critical condition following a stroke he suffered late Monday night. Until the time of this paper going to press, his condition was unchanged. He was admitted to Breach ... More

V.S. Jain ahead in race for SAIL Chairman post
THE present Finance Director of Steel Authority of India Ltd (SAIL), Mr V.S. Jain, is likely to take over as Chairman of the company after the current Chairman, Mr Arvind Pande, retires this September, according to indications available from ... More

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`Tax'ing political donations

M&A activity falls 19 pc in H1

Alliance Capital MF moots another equity product

Kalam asks Nasscom to work on national citizen card

What ails co-operative banking?

Govt allows FDI in print media

In Depth
Gender Justice

Simple Economics

Guide to derivatives

Looking back
Jun. 16-Jun. 22
Dr Reddy's tops in getting US patents

Vanishing cos get show-cause notices

`Bajaj group not breaking up'