AUDITING
Company secretaries want to be treated on par with other auditors
COMPANY secretaries have urged the Government to treat them on a par with other auditors. "It is strongly felt that the secretary in whole time practice giving the compliance certificate should be appointed at the annual general meeting of the ... More

COURTS/LEGAL ISSUES
Eli Lilly's exclusive marketing right under legal cloud
A SHADOW has been cast on the exclusive marketing right (EMR) recently granted by the Patents Office to Eli Lilly for its anti-impotence drug Cialis. Following a recent Calcutta High Court order, a letter has been ... More

HUMAN RESOURCES
Delta Air to cut 7,000 jobs
DELTA Airlines will be cutting 10 per cent of its overall work force in the next 18 months, its Chief Executive Officer, Mr Gerald Grinstein, said. This means that up to 7,000 jobs will be cut. Delta has also ... More

CORPORATE BONDS
Karnataka Neeravari Nigam plans Rs 200-cr bond issue
KARNATAKA Neeravari Nigam Ltd (KNNL) plans to raise Rs 200 crore through bond sales in the current month, State Government sources said. The issue is likely to open on September 20 and the coupon rate on the bonds has been fixed at 6.95 per ... More

MERGERS & ACQUISITIONS
Takeover code: Curbs on share dealings by merchant bankers
THE Securities and Exchange Board of India (SEBI) has cast additional obligations on a merchant banker appointed by an acquirer under the Takeover Code. The capital market regulator has imposed restrictions on share dealings in a target company ... More

Tatas to sell 11% in Haldia Petro to WBIDC
MR Ratan N. Tata, Chairman of the Tata group, today confirmed that the Tatas would sell a major portion of their stake in Haldia Petrochemicals Ltd to the West Bengal Industrial Development Corporation (WBIDC) at face value. Talking to ... More

Tata Tea, Tetley on the prowl for acquisitions
THE Tata group is looking at fresh acquisitions for the growth of its tea business both through Tata Tea and Tetley, according to Mr R.N. Tata, Chairman of Tata Tea Ltd. Mr Tata was addressing the shareholders of Tata Tea at the company's 41st ... More

Indian Hotels eyeing properties abroad
THE Tata Group is also contemplating acquisitions of hotels or chain of hotels for the Indian Hotel Co Ltd, according to Mr Ratan N. Tata. He said that the company made a futile attempt to acquire property in the US, where other players outbid ... More

NEW PROJECTS
Siemens to invest Rs 100 cr; open to acquisitions
SIEMENS today announced that it would be investing around Rs 100 crore in India towards expansion of its factory infrastructure in the areas of transportation, power and information technology. The company is also open to making investments in ... More

Tata group plans cancer hospital in Bengal
THE Tata group is looking at fresh investments in West Bengal and is also setting up a cancer hospital on the occasion of the birth centenary celebrations of JRD Tata and Naval Tata. This was announced by Mr Ratan Tata, Chairman of the Tata ... More

Amara Raja plans to spend Rs 10 cr on expansion project
AMARA Raja Batteries is expected to spend "slightly less than" Rs 9 crore on advertising this year, the company's Managing Director, Mr Jayadev Galla, told press persons here on Wednesday. The company's Chief ... More

INTERVIEW
`Rising home loan rates will hit paint sector'
APART from rising crude oil prices, interest rates on housing and the overall interest rate movement are some of the critical issues before the paints industry, according to Mr H.M. Bharuka, Managing Director, Goodlass Nerolac Paints. Driven ... More

PERFORMANCE
Maruti on vendor consolidation drive
MARUTI Udyog Ltd has embarked on a major vendor consolidation process that has helped cut costs and pass them on to customers while sales grew by about 20 per cent in the first five months, riding on the launch of the New Esteem and growing sales ... More

Qualis Jan-August sales up 20 pc
TOYOTA Kirloskar said on Tuesday that its largest selling vehicle, Qualis, sold 20 per cent more units between January and August this year compared with the same period a year ago. In a press statement, the car maker said during the first ... More