The Hindu Business Line : Thursday, June 12, 2003

Essar begins marketing imported oil products — Invites EoI from bulk users
LEAVING aside the uncertainties hovering around its own refinery, Essar Oil Ltd (EOL) has started marketing imported products. The first consignment of imported high speed diesel (HSD) had already arrived and the company was in the process of ... More

COURTS/LEGAL ISSUES

HC dismisses Shaw Wallace writ petition
THE Calcutta High Court on Wednesday dismissed the writ petition filed by Shaw Wallace & Co Ltd (SWC) challenging the decision of Settlement Commission, which rejected the company's petition on the ground of failure to deposit the amount with the ... More

TAXATION

Tax sops for Mangalam Cement Rajasthan unit
MANGALAM Cements has been granted certain tax exemptions for its second unit Neer Shree Cement by the Government of Rajasthan, the company said in its notice to the stock exchanges today. The exemption is limited to 75 per cent of the tax ... More

RESTRUCTURING

PepsiCo hives off non-cola business
THERE'S a new fizz at PepsiCo. In a significant restructuring exercise, PepsiCo India Holdings has split its soft drinks and other beverages businesses into two separate units. Under the new business structure, PepsiCo's 100 per cent juices, ... More

MERGERS & ACQUISITIONS

IFCI stake in Indo Rama Synth falls to 3.9 pc
IFCI Ltd's shareholding in the Rs 2,173-crore Indo Rama Synthetics Ltd (IRSL) has dropped to a level of 3.94 per cent as on March 31, 2003 from a stake of 6.69 per cent held on December 31, 2002. As part of the phased acquisition of IFCI Ltd's ... More

ALLIANCES & JOINT VENTURES

JB Chem in pact with Arrow group
JB Chemicals & Pharmaceuticals Ltd has entered into a strategic alliance with Toronto-based, Arrow group for supply and marketing of generic formulations. According to a company press release, the strategic alliance will enable JBCPL to ... More

SICK UNITS

Pitti Laminations plans to allot 10 lakh shares to IDBI — Convenes board meeting on June 18
PITTI Laminations Ltd (PLL), the Hyderabad-based ailing company currently under the purview of the Board for Industrial and Financial Reconstruction (BIFR), proposes to hold the board meeting on June 18 to consider a proposal to allot 10-lakh ... More

BIFR orders winding up of Modern Denim
DENIM may be in fashion but the same cannot be said of one of its major manufacturers, Modern Denim Ltd (MDL), belonging to the Modern Group. Despite giving sufficient opportunity, with no rehabilitation proposal in hand, the Board for ... More

Kerala to make co-op bid for FACT
THIRUVANANTHAPURAM: The Kerala Government will float a co-operative society and tie up with the Indian Farmers Fertiliser Co-operative (IFFCO) to bid for the Centre's stake in the ailing Fertilisers and Chemicals Travancore ... More

OUTLOOK

Competitive pricing is Oscar's success mantra
IS it all about competitive pricing in the consumer electronics category? Domestic consumer electronics major, Oscar International, which is expecting a turnover of Rs 400 crore for 2003-04, seems to believe so. "Oscar's current success has been ... More

PEOPLE

Lazard CEO, two top executives quit
THREE senior executives, including the CEO, of investment adviser, Lazard India, have resigned from the company, apparently to pursue individual goals. The investment banker is one of the top advisers to the Government on its disinvestment ... More

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