The Hindu Business Line : Friday, May 09, 2003

Maruti Udyog plans to reduce vehicle platforms
MARUTI Udyog Ltd plans to reduce the number of vehicle platforms as a means to spread development costs and achieve economies of scale, according to information provided in its draftred herring prospectus filed with the Securities and Exchange ... More

Palio to ply on Bangladesh roads soon
FIAT India Ltd on Thursday announced that it would shortly begin export of its popular B segment car, `Palio' to Bangladesh. The first consignment of 20 Palios are scheduled for shipment by the end of the current month. Fiat India would put ... More

COMPANY LAW

Cos Bill seeks to bar `pyramid' control
IN what could be a major body blow for India Inc, the Centre has through the Companies (Amendment) Bill, 2003, resurrected a controversial provision that was considered to be a bombshell in the Companies Bill 1997. The latest Bill seeks to ... More

Definition of auditor-company relations — Corporates irked at new Companies Bill
As per the proposed amendment, an `officer who is in default' now includes the chief accounts officers. Besides, the share transfer agents, bankers, registrars to the issue, merchant bankers, in respect of the issue or transfer of any securities of t he company and debenture trustee are also within the ambit of `officer who is in default' as defined under the Companies (Amendment) Bill. More

AWARDS & HONOURS

Clinic Plus academic awards

COURTS/LEGAL ISSUES

IDBI ordered to give TCS report to SPIC Petro
THE Bombay High Court has recently directed Industrial Development Bank of India Ltd (IDBI) to give SPIC Petrochemicals Ltd a copy of the full report of Tata Consulting Engineers (TCE). The TCE report went into the question of viability of the ... More

FINANCIAL PERFORMANCE

Intl Travel House income up
NEW DELHI: International Travel House (ITH) has reported a net profit of Rs 6.58 crore for the year ended March 31, 2003 as against a net profit of Rs 0.92 crore recorded during the previous year. Income from operations for the year ... More

NEW PROJECTS

Ion Exchange unit for Rail Neer commissioned
ION Exchange (India) Ltd, the water treatment company, has commissioned its plant for production of Rail Neer, packaged drinking water for the Indian Railways. The plant was inaugurated by the Union Minister for Railways, Mr Nitish Kumar. The ... More

Glenmark sets up arm in US
THE Mumbai-based pharma company, Glenmark Pharmaceuticals Ltd, has made a foray into the US generics markets with the setting up of a wholly-owned subsidiary in New Jersey, US. The company is scouting for partners for manufacturing as well as ... More

STANDARDS & BENCHMARKS

Glaxo sues Dr Reddy's for patent breach
GLAXOSMITHKLINE (GSK) has sued Dr Reddy's Laboratories Ltd, the Hyderabad-based pharmaceutical major listed on the New York Stock Exchange (NYSE). It has alleged patent infringement by the latter on three of the four Orange Book patents as well ... More

OUTLOOK

RINL on better wicket with top techno-economies
TWO important points emerge from the current operations of Rashtriya Ispat Nigam Ltd, the corporate entity for Vizag Steel Plant. First, with the vastly improved techno-economics that RINL has been able to achieve, it can withstand even severe ... More

Maruti Finance sees Rs 3,000-cr biz
MARUTI Udyog Ltd (MUL) Managing Director, Mr Jagdish Khattar, said his company's vehicle finance arm, Maruti Finance, was set to do business to the tune of Rs 3,000 crore in the current fiscal. Mr Khattar, who was here to launch Maruti Finance ... More

PERFORMANCE

Herbals work wonders for Arvind Remedies
HERBAL medicines have emerged as Arvind Remedies' fastest growing business segment after their introduction a couple of years ago. At present, the company is in the process of registering herbal medicines in Korea and Malaysia in order to examine ... More

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