CORPORATE
MODERNISATION
Indian Acrylics plans to modernise plants
INDIAN Acrylics Ltd has informed the Bombay Stock Exchange that the company proposes to take a scheme to modernise its plants and to remove production bottlenecks. This will enhance the capacity to 42,000 TPA. The total cost of the scheme has ...
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ANNOUNCEMENTS
NEI bags order from US, Brazil
NATIONAL Engineering Industries Ltd (NEI) has bagged an order worth Rs 5.5 crore from the American and Brazilian railways. NEI, a GP- CK Birla group company, will export approximately 8000 cartridge-tapered roller bearings to the US for this ...
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ACCOUNTING STANDARDS
Healthy economy reflects sturdy accounting system: ICAI chief
WHEN the world of accounting turned topsy-turvy in the recent past, the Indian accountancy profession was not surprised at all. In fact, the rest of the world was perplexed why the Indian accounting profession was not surprised. The reason for ...
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OVERSEAS BORROWINGS
Bharti may raise $500 m thru ECBs
BHARTI Tele-Ventures is likely make external commercial borrowings (ECB) of atleast $500 million (around Rs 2,250 crore) during the next financial year, now that government has allowed it. At least $500 million would be through the automatic ...
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Proposal to raise $100 m — Ashok Leyland paid-up equity may rise 15 pc
ASHOK Leyland expects its paid-up equity to increase approximately 15 per cent, after the proposed $100 m (Rs 460 crore) funds raising. Senior officials told Business Line today that the $ 100 m could be either through the an GDR issue ...
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COURTS/LEGAL ISSUES
Special Court clears Jayalalithaa in SPIC case
A SPECIAL Court on Friday cleared the Chief Minister, Ms J. Jayalalithaa, and two former IAS officers of the charges of abuse of official power in a case relating to the Government's renouncing its rights shares in Southern Petrochemical ...
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RESTRUCTURING
Corporate debt restructuring okayed — GAIL may become equity partner in Haldia Petro
THE Rs 5,977-crore Haldia Petrochemicals Ltd, which went into commercial in August 2001, will get a much-needed breather once the corporate debt restructuring gets under way. Even as any official communication regarding the package which was ...
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`IOC role still to be firmed up'
SENIOR industry department officials in the West Bengal Government feel it is hard to foresee the role that Indian Oil Corporation would have in Haldia Petrochemicals Ltd (HPL), whose debt restructuring was okayed by the Corporate Debt ...
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MERGERS & ACQUISITIONS
ADB picks up 5.2 pc stake in Petronet LNG
ASIAN Development Bank (ADB) has signed an agreement to pick up 5.2 per cent equity in Petronet LNG Ltd. ADB has been involved in the Dahej LNG terminal from the inception stage and has provided assistance in preparation of the detailed ...
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Revival scheme for ACRL merger with Guj Ambuja cleared
THE Board for Industrial and Financial Reconstruction (BIFR) has sanctioned a rehabilitation scheme for Ambuja Cement Rajasthan Ltd (ACRL) envisaging merger of the ailing company with Gujarat Ambuja Cements Ltd (GACL). As per the scheme, the ...
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INTERVIEW
LMW bullish on growth prospects
AFTER prolonged recession, the city-based textile machinery manufacturing major, Lakshmi Machine Works (LMW), appears to be back on the growth track. Having established a strong brand for its product range to cater to the entire machinery ...
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STANDARDS & BENCHMARKS
Ford component makers get global quality certification
FORD India awarded its global quality certification, Q1, to 20 of its component manufacturers here on Friday. To the component manufacturers, this means that they stand shoulder-to-shoulder with the best anywhere in the world. "They have a ...
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OUTLOOK
Rallis to focus on agrochemicals
RALLIS India Ltd's decision to get out of gelatine business once again reiterates its resolution to focus on its core business - agrochemicals. However, the exit of the gelatine business would reflect in Rallis's balance sheet of fiscal ...
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