CORPORATE
ANNOUNCEMENTS
Toyota shuts unit for maintenance — Truckers' strike may force Kinetic to suspend operations
TOYOTA-Kirloskar Motor Company has shut down its factory for a week as part of its annual maintenance, a Toyota official said. The factory would reopen next week he said. But this has come in handy for the car maker to tide over the crisis ...
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Tentative FDA nod for Ranbaxy's anti-depressant
RANBAXY Laboratories Ltd has received a tentative approval from the US Food and Drug Administration for generic anti-depressant, Gabapentin, in capsule form. A tentative approval letter is issued from FDA to an applicant when all scientific ...
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Shaw Wallace Agrochem is now SWAL Corp
THE name of Shaw Wallace Agrochemicals Ltd, a subsidiary of Shaw Wallace & Company Ltd (SWC), has been changed to SWAL Corporation Ltd, while Universal Pesto Chem Industries Ltd has become a subsidiary of SWC during fiscal 2003-04. This was ...
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CORPORATE DISPUTES
Birla Corp not to appoint Chairman
THE Kolkata-based Birla Corporation Ltd, flagship company of the MP Birla group, has decided not to appoint any Chairman in the near future. A vacancy was created following the death of Priyamvada Birla, the widow of MP Birla, on July 3 this ...
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COMPANY LAW
India Inc troubled by concept paper's `officer in default' provision
THERE seems to be a growing feeling among the corporate sector that the provision on `officer who is in default' in the concept paper for revamped company law would create hurdles in their functioning. Industry insiders felt that the expansion of ...
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AWARDS & HONOURS
23 power stations equipped with BHEL sets bag national awards
HERE'S something that will warm the hearts of public sector votaries. Out of the 27 power stations throughout the country that have bagged national awards for meritorious performance, 23 are equipped with power generation equipment built by the ...
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INSIGHT
Reservation in the private sector — A rational, ritualistic placebo
Reservation in the private sector could stoke hope and optimism. At its worst, it will be a placebo — which is most useful in the treatment of economic disorders and ironies. But the private sector cannot grow without economic and social servic es from the government sector, says G. Ramachandran.
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ACCOUNTANCY
ICSI brand goes global
WITH an objective to collate comprehensive information to access the possible market for services of Company Secretaries abroad, the Institute of Company Secretaries of India on Thursday showcased the Indian company secretary brand. At an ...
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MERGERS & ACQUISITIONS
Italian co picking up 10 pc stake in Elder Pharma
ANGELINI Acraf Spa, a privately held Italian company, is picking up a 10 per cent stake in the Mumbai-based Elder Pharmaceuticals Ltd. Elder Pharma has informed the Bombay Stock Exchange that the board has approved allotment of 15,99,000 equity ...
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Eveready to acquire battery unit in China
EVEREADY Industries India Ltd, the flagship company of Mr B.M. Khaitan, is planning to acquire battery manufacturing capacity in China through the joint venture route during the next three to six months. According to Mr Deepak Khaitan, ...
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Pearl Organics gets HC nod to merge Wander with itself
PEARL Organics Ltd has received approval from the Mumbai High Court to proceed with its proposed scheme of amalgamation of Wander Pvt Ltd with itself, with the swap ratio fixed at 4:1. The merger between the two companies will lead to the ...
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NEW PROJECTS
Carborundum to expand global operations
CARBORUNDUM Universal will set up at least a marketing unit in Europe by next year. It is also looking at setting up shop in China, company officials told a press conference today. The presence in Europe could also happen through an ...
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Pergo sets up design centre in Hyderabad
LAMINATED wooden flooring manufacturer PERGO, a $3-billion Swedish major, is bullish on the Indian market and has announced the launch of its exclusive `design centre' in Hyderabad. The centre will help potential customers visualise how their ...
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Pidilite setting up new units in Himachal Pradesh
PIDILITE Industries Ltd is setting up new units in Himachal Pradesh at an estimated cost of Rs 55 crore. The company said it will fund this investment mainly from internal accruals. The implementation of this project will be in a various phases ...
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CGH group to sign MoU with Karnataka
WITH one of its foot firmly established in Kerala's territory, the CGH group of hotels is extending its ambit of operations into Karnataka in a big way. And, Karnataka is emulating Kerala's pioneering public/private initiative to harness the ...
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BONUS ANNOUNCEMENTS
1:1 bonus from Jetking
MUMBAI: The board of directors of Jetking Infotrain Ltd has proposed to issue bonus in the ratio of 1:1, according to a company notification to the BSE.
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