The Hindu Business Line : Tuesday, September 17, 2002

Ratan Tata steps down from HPL board
MR Ratan Tata, Chairman, Tata Sons and the other Tata group representative on the board of Haldia Petrochemicals Ltd, Mr Shyamal Gupta, have stepped down from the HPL board. Confirming this during a brief interaction with the media at the State ... More

TCCL defends environment record — To phase out mercury cell units
TRAVANCORE-Cochin Chemicals Ltd (TCCL) is in the process of gradually phasing out its mercury cell units and it is totally incorrect to say that the company has taken no environment protection initiatives on account of a cash crunch, top ... More

Indo Rama to focus on specialty fibres
INDO Rama Synthetics (India) Ltd (IRSL), which is doubling its polyester stable fibre (PSF) production capacity at its Butibori plant, is focussing on supply and marketing of speciality fibres, especially for the sewing thread application to take ... More

Infosys to set up paediatric hospital

OVERSEAS BORROWINGS

No RBI approval needed for prepaying ECBs up to $100 m
THE Reserve Bank of India (RBI) has said that borrowers who have raised external commercial borrowings (ECBs) in accordance with the prevalent rules and regulations may prepay the outstanding ECB up to an amount of $100 million without obtaining ... More

AUDITING

ICAI sets up board to probe audited accounts
THE Institute of Chartered Accountants of India (ICAI) has constituted a 7-member Financial Report Review Board (FRRB) that has been empowered to suo motu look into the published accounts of different organisations, including banks and financial ... More

MANPOWER

Tata Tea to rationalise manpower
TATA Tea has worked out a three-pronged strategy to increase shareholder value. The company has proposed to rationalise manpower, enhance its current EVA (economic value-added) status, and develop and introduce new products in the market. These ... More

RESTRUCTURING

India Cements in talks with lenders for debt recast
INDIA Cements Ltd has approached the financial institutions led by IDBI for a restructuring of its debt. "We expect it will get approved. It will give us leeway and deferment in terms of principal repayment," India Cements' Vice-Chairman and ... More

Need to bring Aspirin into India — `Impact of job cuts yet to emerge'
EVEN as the original Aspirin, from Bayer AG, prepares to make its entry into India - a clear picture is yet to emerge on the impact in India of the massive job-cuts globally announced by the German parent last week. Mr Dieter Kambeck, CMD, ... More

HDFC, IDFC, IL&FS may pick Sical stake
HDFC, IDFC and IL&FS are likely to pick up equity stake in South India Corporation (Agencies) Ltd (Sical), sources from the financial institutions told Business Line. Sical is a part of the Chennai-based M.A. Chidambaram group of ... More

MERGERS & ACQUISITIONS

DCA seeks details of Coke divestment plan
Adding a new twist to the issue of disinvestment of 49 per cent equity in favour of Indian shareholders by Coca-Cola in its Indian subsidiary Hindustan Coca-Cola Holdings Private Ltd (HCHPL), the Department of Company Affairs (DCA) has asked the ... More

ALLIANCES & JOINT VENTURES

Apollo Tyres ties up with Cummins Auto
APOLLO Tyres Ltd (ATL) has signed a memorandum of understanding with Cummins Auto Services Ltd. (CASL) to set up exclusive Apollo Tyre World outlets at all CASL Full Service Truck Stop - Suraksha. The two companies will jointly establish tyre ... More

OUTLOOK

Digital's TSCC expects break-even by next June
DIGITAL Globalsoft's initiative in the IT enabled services space - Technical Support Contact Centre (TSCC) - is expected to report a break-even by the June quarter of the financial year 2003-04, according to Mr Prashant Shankaran, head, ... More

Bayer agrochem sales may fall due to drought
BAYER (India) Ltd (BIL) expects its agrochemicals segment, which accounts for almost 70 per cent of its revenues, to record lower sales during the current year due to acute drought conditions in many parts of the country. "The agrochemical ... More

Kennametal sees Widia as sourcing hub for Asia-Pacific
THE world's second largest metals company Kennametal Inc, which bought out Widia India, sees India emerging as a sourcing hub for South-East Asia and Asia-Pacific region. "We will bring in new production process and streamline operations to ... More

ECONOMIC OFFENCES

Insider trading in Brooke Bond merger case — Court summons to HLL, directors
THE Metropolitan Magistrate's Court in the city today issued summons to Hindustan Lever Ltd and its directors in a criminal complaint filed by SEBI in 1998 for alleged insider trading by them prior to the merger of Brooke Bond India Ltd with ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Dhindsa against sell-off in profit-making PSUs

`Politics is not a nice profession to be in'

Another aspirant awaits FMC nod for tea futures

US venture shortly — LIC finds slight dip in policies sale

No RBI approval needed for prepaying ECBs up to $100 m

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Sep. 8-Sep. 14
`Tata Chem to retain equity investments in group cos'

Indian Hotels acquires Regent Hotel — Makes North Mumbai entry with Rs 452-cr deal

Gujarat HC approves RIL-RPL merger