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Friday, August 06, 2004

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CORPORATE

ANNOUNCEMENTS
Sony India suspends CTV production
CLOSE on the heels of shutting down its audio manufacturing unit, consumer electronics firm Sony India has suspended production at its colour television facility and said that it was evaluating whether to close down the CTV unit. "We are ... More

Uncertainty over Lodha as auditor — Indo Gulf cancels AGM
INDO Gulf Fertilisers Ltd has cancelled its annual general meeting scheduled for August 10 because the meeting was to consider reappointment of Mr R.S. Lodha's accounting firm Lodha and Co as its statutory auditor. Indo Gulf informed the ... More

Hyundai hikes prices
HYUNDAI Motor India has announced a marginal price increase for all its cars across segments to reflect the incidence of education cess. Retail prices in case of the compact car Santro have gone up by up to Rs 2,257 and for the Accent the ... More

CORPORATE DISPUTES
Birlas to file plea for appointment of receiver
IN an effort to foil Mr Rajendra Singh Lodha's plans of taking over the assets of the MP Birla Group, the scions of Birla family are planning to file a petition before the Calcutta High Court for the appointment of a receiver. The days ahead ... More

COMPANY LAW
`Concept paper slips on company secretary for special audit'
THE fresh attempt by the Ministry for Company Affairs to revamp and simplify the Company Law at first seems to have been well-received by the company secretary professionals. However, the slip given to the profession for the purposes of ... More

India Inc hails concept paper on Company Law
INDIA Inc has welcomed the concept paper on a new Company Law, which was released on Wednesday for public debate. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the Government's move to reduce the size of the ... More

MERGERS & ACQUISITIONS
Essel Propack acquires UK co
HAVING established itself as the world's leading manufacturer of laminated tubes, Essel Propack is now eyeing the plastic tube segment and has announced the acquisition of 100 per cent stake in Arista Tubes of UK. However, the company did not ... More

NEW PROJECTS
Ozone Ayurvedics plans facility in Britain — May customise products under `Nomarks' brand
"Besides the Nomarks portfolio present in India, the new plant will be used to make special products for Europeans such as anti-freckle cream, ear drops and shaving antiseptics." More

Fortis to expand hospital network; plans IPO
FORTIS Healthcare is planning to expand its network of hospitals across North India at a total investment of over Rs 1,100 crore in the next five years. While tapping the capital markets to fund the expansion is on the cards, some portion of the ... More

Texmaco plans Rs 30-cr investment in foundry unit
TEXMACO, a K.K. Birla outfit, has planned an investment of Rs 30 crore in its foundry. Mr Ramesh Maheshwari, President of the company, told Business Line that a modernisation-cum-expansion plan for the foundry, located near here, has been ... More

GAIL to conduct fresh study for Kasargod petrochem project
THE public sector Gas Authority of India Ltd will conduct a fresh feasibility study on the proposed petrochemical complex at Cheemeni in Kasargod district of Kerala. The project, estimated to cost around Rs 7,000 crore, is the centrepiece of ... More

ALLIANCES & JOINT VENTURES
Nicholas Piramal in pact with US co
MUMBAI: Nicholas Piramal India Ltd (NPIL) on Thursday said that it had completed its in-licensing agreement with Genzyme Corporation of the US for synvisc viscose supplementation for the Indian market. The deal would augment NPIL's ... More

NATURAL CALAMITIES
Grasim's cellulose plant flooded
MUMBAI: Grasim Industries Ltd has shut down its cellulose plant in Gujarat due to flooding. The company on Thursday informed the BSE that the river Kim, which passes by the company's Birla Cellulosic plant at Kharach in Gujarat, has ... More

SICK UNITS

  • BHPV revival package soon

    PEOPLE
    Tapan Ray quits as Kopran MD
    MUMBAI: The Managing Director of Kopran Ltd, Mr Tapan Ray, has resigned from the company. The board of directors has recorded and accepted the resignation with effect from October 31, 2004, the company told the BSE on Thursday. Company ... More


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