CORPORATE DISPUTES
ONGC threatens to cut off gas supply to Gail — Demands GSA with take-or-pay
OIL and Natural Gas Corporation (ONGC) has served a notice for termination of supplies to the Gail India Ltd and has asked the gas transporter to sign a Gas Sales Agreement (GSA) with take-or-pay commitments. ONGC currently has only a memorandum ... More

INSIGHT
Strategic planning and risk management — Closer integration, better business
COMPANIES face threats in the form of new competition, new technology, changes in consumer tastes, and so on. But only a few of them manage these risks effectively. Those who do are alert to changes in the environment ... More

COURTS/LEGAL ISSUES
UK health service allegations — Ranbaxy initiates legal consultations
RANBAXY Laboratories Ltd has initiated legal consultations after UK's NHS (National Health Service) alleged unlawful price fixing of Ranitidine, a generic drug used for treatment of ulcer. Sources in the company said that solicitors in the UK ... More

HUMAN RESOURCES
Retailers look to soft skills training to boost bottomline
ONE evening before closing time, Ms S. Prema, a financial analyst, rushed into the supermarket to pick up a few essentials. As she was peering at the expiry date on a packet of bread, a girl selling herbal face wash accosted her. "No, thank you," ... More

RESTRUCTURING
Coke chief pays flying visit to India — Bottling operations revamp on cards
THE Chairman and Chief Operating Officer of the Coca-Cola Company, Mr E. Neville Isdell's flying visit to India comes amidst the company's local operations being mired in controversy over extraction of ground water and allegations of pesticide ... More

MERGERS & ACQUISITIONS
Reliance to acquire German firm Trevira for Rs 440 crore
RELIANCE Industries Ltd on Thursday announced it would acquire German polyester producer, Trevira GmbH, for 80 million euros (roughly Rs 440 crore). The acquisition will make RIL the world's largest polyester fibre and yarn producer. Trevira, ... More

NEW PROJECTS
Nava Bharat Ferro plans Rs 250-cr expansion
SOARING ferro alloy prices, the new power tariff order in Andhra Pradesh, and the revival in sugar industry have prompted the management of Nava Bharat Ferro Alloys Ltd (NBFAL) to take up a Rs 250-crore expansion. The Hyderabad-based company ... More

Himatsingka sets up arm in New York
HIMATSINGKA Seide Ltd has set up a wholly owned subsidiary in New York - `Himatsingka America Inc'. Himatsingka has invested $1.5 million towards initial equity capital of the subsidiary, the company said in a notice to the Bombay Stock ... More

BHEL sets up solar power plant in Bengal
BHARAT Heavy Electricals Ltd has installed a stand-alone solar power plant in Mousuni island, West Bengal. The 105-KWp solar power plant, the country's largest such plant, was commissioned in association with the West Bengal Renewable Energy ... More

Continental Coffee to set up freeze-dried plant in Guntur
CONTINENTAL Coffee Products (India) Ltd will set up a freeze-dried coffee plant at Duggirala in Guntur district at a cost of Rs 125 crore. Mr C. Rajendra Prasad, Managing Director of the company, who led a delegation from Denmark and the UK, ... More

Godrej Agro to set up poultry biz in Bangladesh
GODREJ Agrovet Ltd has entered into a 50:50 joint venture with Advanced Chemical Industries Ltd, Bangladesh, to set up animal feed and poultry businesses in Bangladesh. The joint venture has been named ACI Godrej Agrovet Pvt Ltd. It will set ... More

TRADE & LABOUR UNIONS
Lockout at Aruna Jute Mill
VIZIANAGARAM: The management of the Aruna Jute Mill here declared a lock-out on Wednesday evening, as the dispute between the management and workers could not be resolved. The workers have been on strike since March 1 following the ... More

ALLIANCES & JOINT VENTURES
Ranbaxy ties up with Atrix for prostrate drug
RANBAXY Laboratories Ltd has entered into an exclusive licensing agreement with the Nasdaq-listed Atrix Laboratories Inc to develop and commercialise Eligard, a drug used to treat prostrate cancer in India. Ranbaxy has licensed the rights to ... More

SICK UNITS
Closure notice to Sarvaraya Textiles
THE Board of Industrial and Financial Reconstruction (BIFR) has served a show-cause notice on the Sarvaraya Textiles Mills Ltd here, stating that the mill will be ordered to be closed down, if a rehabilitation package either by the present ... More

Pondy Govt panel to explore Swadeshi Cotton takeover — Hearing on closure proposal put off
EVEN as the National Textile Corporation's (NTC) proposal for closure of its loss-making textile unit in Pondicherry, Swadeshi Cotton Mills (SCM), hangs in balance, the Union Territory Government has constituted an expert committee to assess the ... More

PERFORMANCE
Biz recast, Chinese strategy brighten Bajaj Electricals
"WHEN everyone was worried that cheap imports from China will drive Indian products out (of the market), we realised the benefits of China's mass production capability and used it to our advantage," says Mr Shekhar Bajaj, Chairman and Managing ... More

Tanishq turnover crosses Rs 400 cr
TANISHQ has said it has emerged among the largest and most profitable domestic retailers as it has crossed the Rs 400-crore signpost, generating retail sales of Rs 416 crore. Tanishq, the jewellery division of Titan Industries Ltd, reported 29 ... More