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Saturday, July 03, 2004

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CORPORATE

ANNOUNCEMENTS
Apollo Tyres to take up due diligence of Modi Rubber unit
THE Rs 2,300-crore Apollo Tyres Ltd (ATL) said on Friday that it would soon take up "technical, financial and commercial due diligence" of the tyre business of Modi Rubber Ltd (MRL). "We expect the due-diligence to be completed in a time span ... More

BILT scouts for captive forests in Indonesia, Malaysia
BALLARPUR Industries Ltd (BILT), the country's largest paper manufacturer, is planning to lease land for captive forestry in Indonesia or Malaysia to feed its seven paper mills in India. "We are facing a tight situation with regard to raw ... More

Diosynth sells bulk drug plant in Kolkata
THE Netherlands-based Diosynth has announced the divestment of its active pharmaceutical ingredients (API) manufacturing plant in Kolkata, as part of the company's global strategy to optimise production and streamline operations. The API ... More

Nestle gets FIPB nod to sell pet food thru Excelcia
THE Foreign Investment Promotion Board has cleared Nestle SA's proposal to introduce pet foods in India through the wholly-owned subsidiary Excelcia Foods Pvt Ltd, sources said here on Friday. The Swiss food major had said in its proposal that ... More

  • TCI to pay 18% dividend

    CORPORATE DISPUTES
    MSEB issues contempt notice against DPC
    THE Maharashtra State Electricity Board has issued a contempt of court notice to the Dabhol Power Company in the Mumbai High Court against the Rs 26,000-crore arbitration filed by DPC in a London Court. According to MSEB, DPC has violated the ... More

    ACCOUNTANCY
    `CAs must not look for protection from global competition'
    THE Centre has made it clear to the chartered accountants that they should not look for "protective cover" against competition from foreign service providers. At the same time, the Government has also assured them that "reciprocal arrangements" ... More

    RESTRUCTURING
    SWC revamp; deal with SABMiller — Mallya to drop case against Jumbo group
    The UB group Chairman, Mr Vijay Mallya, and McDowell & Co Ltd have decided not to pursue their legal case against the corporate restructuring undertaken by arch rival Shaw Wallace & Co and the sale of shares by the latter to SABMiller. This More

    NEW PROJECTS
    L&T steps up overseas presence — To open office in Kazakhstan soon
    LARSEN & Toubro is moving ahead stealthily on its overseas ambitions. It is currently set to open an office in Kazakhstan. That country presents a huge opportunity for L&T because of its burgeoning hydrocarbon sector, said the L&T Chairm More

    ALLIANCES & JOINT VENTURES
    Sarvotham ties up with Starr Healthcare to market nutraceuticals
    SARVOTHAM Remedies Ltd (SRL) has entered into an alliance with the US-based Starr Healthcare Enterprises Inc, a nutraceuticals producer, for marketing the latter's `Herbals First' range of products in India. The SRL Chief Executive Officer, Mr ... More

    INTERVIEW
    `Farmer-friendly Budget will help paints industry'
    THE fortunes of the paints industry are related to factors as varied as the housing boom, vagaries of the weather and even better availability of rural credit. Despite the pressure on margins, the industry grew by double digits last year. In ... More

    SOCIETY & DEVELOPMENT
    `Social responsibility vital for Tata Steel dealings'
    TATA Steel, in future, will not deal with companies which do not conform to a certain minimum standard of corporate social responsibility. "We will not either buy from or sell to companies" that do not measure up to Tata Steel's social ... More

    SICK UNITS
    Gujarat Borosil turns around; out of BIFR net
    GUJARAT Borosil Ltd (GBL), which came into the Board for Industrial and Financial Reconstruction (BIFR) fold in 1999, has made a turnaround. The board vide its recent order said, "Having considered that the company has ceased to be a sick ... More

    OUTLOOK
    Wheels India to chalk out China strategy in six months — Targets Rs 100 pc exports this year
    WHEELS India Ltd hopes to finalise its strategy vis--vis China in the next six months. "We are in the process of studying the China market. Some of our global customers have asked us to come up with a China strategy," Mr Srivats Ram, Executive ... More

    Leela Hotels chief sees room for hiking tariffs
    `There was a need to change the perception that in India, a quality product and service could be had at a massive discount.' More

    PEOPLE
    4,000 L&T staff to run in Holck-Larsen's memory
    L&T "believes in the family thing ... . We are like a family. And, how many times do 5,000 of your own get together like that?" More

  • Bansi Dhar passes away
    Scoreboard
    SE Diary



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