The Hindu Business Line : Wednesday, December 25, 2002

New fuel-efficient engine from Audi?
HAS Audi, the German carmaker, discovered the key to manufacturing fossil-fuel-efficient engines of tomorrow? Apparently, yes. Audi's laser-treated engines are expected to reduce wear-and-tear by 23-89 per cent, while oil consumption will ... More

ACCOUNTING STANDARDS

Cos may not find it easy to change auditors any more
REPLACEMENT of statutory auditors may soon get more arduous for promoters and professional managements, with the Naresh Chandra Committee recommending that managements be asked to disclose the reasons for such replacement through an explanatory ... More

ICAI council may discuss Naresh Chandra proposals
THE 30-member central council of the Institute of Chartered Accountants of India (ICAI) is likely to discuss the recommendations of the Naresh Chandra Committee report on Corporate Audit and Governance at its meeting beginning on December 26 at ... More

CORPORATE DISPUTES

JK Tyres claim to top slot misleading: MRF
THE tussle between MRF Ltd and JK Tyres Ltd over who the No.1 manufacturer in the country is appears to have come to a head with both of them claiming the numero uno position today. MRF today held a press conference here where it said that the ... More

Expert panel submits report on filgrastim
IT'S not over till it is over, or at least so it seems with the controversy over the biotech cancer drug filgrastim. Almost 15 months after the controversy over filgrastim first burst on the scene, the expert committee looking into the issue is ... More

RESTRUCTURING

Crucial L&T board meet likely in Jan
THE board meeting of Larsen & Toubro to consider the demerger of its cement division will now be held sometime in early January, according to a senior company official.It was widely expected that the board would meet on December 28 to take up ... More

FIXED DEPOSITS

IVRCL Infrastructure to raise public deposits
IVRCL Infrastructures & Projects Ltd, the Hyderabad-based company implementing turnkey infrastructure projects, proposes to raise fixed deposits from the public as well as shareholders. The company executes lump sum turnkey projects with ... More

MERGERS & ACQUISITIONS

Hitachi to buy out partner in Amtrex Hitachi
HITACHI Home & Life Solutions Inc (HHLS), a fully owned company of Japanese major Hitachi Ltd, today announced plans to acquire the 19.4 per cent share holding of its joint venture partner, the Lalbhai group, in Amtrex Hitachi Appliances ... More

CORPORATE GOVERNANCE

CII hails Naresh Chandra Panel suggestions
THE President of the Confederation of Indian Industry (CII), Mr Ashok Soota, has welcomed the recommendations of the Committee on Corporate Audit and Governance. In a statement, the chamber has said that these recommendations will play an ... More

Vigilance fears overdone, CVC tells PSE chiefs
THE Central Vigilance Commissioner, Mr P. Shankar, has advised the chief executives of public sector enterprises (PSEs) to strive to be competitive, improve performance and make profit. Speaking at a workshop on `Corporate governance in a ... More

NEW PROJECTS

Divi's Labs plans IPO to fund expansion
DIVI'S Laboratories Ltd (DIL), the Hyderabad-based Rs 220-crore generic active pharmaceutical ingredients (APIs) and intermediates manufacturer, plans to tap the capital market with an initial public offer (IPO) shortly to raise funds needed for ... More

Falcon Graphite plans to make auto products
FALCON Graphite Industries, Hyderabad has become the fourth industry to set up a facility at the Advanced Materials Technology Incubator (AMTI) here with plans of making products for the automobile sector and other engineering applications. The ... More

REGULATORY BODIES & RULINGS

Law Ministry may have to redefine independent directors
THE Union Law Ministry will have to take a call on the matter of either inserting a definition for "independent directors" in the Companies Act or amending Clause 49 of the Listing Agreement for having a more precise definition of "independent ... More

INTERVIEW

`No tyre company here is big enough not to be gobbled up' - Mr Paras K. Chowdhary, MD, Ceat
TYRE manufacturer Ceat Ltd is on the road to recovery. Yet even as it leaves its losses behind, refuses to borrow and enhances sales, there are sectoral issues it must confront. Mr Paras K. Chowdhary, Managing Director, Ceat, spoke ... More

DIVERSIFICATION

IFGL to enter biomedical materials
THE city-based IFGL Refractories Ltd is entering the field of biomedical materials, globally an emerging arena of artificial implants, with two ceramic-based items. Dr G. Banerjee, technical advisor of IFGL, told Business Line here on ... More

OUTLOOK

Computer Sciences thinks big on India
AS he looks out from his second floor office to a dusty road in Noida, Dr Arun Maheshwari recalls a terrible accident that had snatched one of his men. He complains about rash driving, damaged and non-functional traffic lights and crowded streets ... More

Indian unit set to emerge Yamaha's largest arm
TWO-wheeler manufacturer Yamaha Motors India which has made a dramatic turnaround fuelled by the success of its Enticer and Libero models is all set to notch up another significant achievement. The company, which was one of the first Japanese ... More

PERFORMANCE

IREDA pays Rs 4-cr dividend to Govt
INDIAN Renewable Energy Development Agency Ltd (IREDA) has paid a dividend of Rs 4 crore to the Government for the year 2001-02. The IREDA Chairman, Mr Ajai Vikram Singh, presented the dividend cheque to the Union Minister of State (Independent ... More

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