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Tuesday, January 04, 2005

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Anil Ambani resigns from IPCL board
MR Anil Ambani today resigned as Vice-Chairman and Director from Indian Petrochemicals Corporation Ltd (IPCL) board, the company today informed stock exchanges. No reasons were given. Mr Anil's resignation, addressed to elder brother and IPCL ... More

OBC files complaints against 5 GTB borrowers — Due diligence shows `serious financial improprieties'
ORIENTAL Bank of Commerce has filed criminal complaints with the Central Bureau of Investigation against five borrowal accounts of the erstwhile Global Trust Bank for having caused "wrongful loss" to the bank. Global Trust Bank (GTB) was ... More

Sensex salutes New Year with 76-point gain
IT'S a New Year, and the bourses continue to gallop ahead in the bull-run, with the Nifty closing at an all time high of 2115 on Monday. The Sensex also touched an all time high of 6684.77, before closing comfortably at 6679.20, up 76.51 ... More

Bosch relocates manufacture of key products to MICO plants here
AUTO parts maker Robert Bosch of Germany has relocated manufacture of certain key products from some of its locations in Europe to MICO, India as part of its strategy to reduce costs. A spokesperson for MICO told Business Line that ... More

Day 1 of product patent regime — Pharmaceutical industry kept guessing
THE Indian patent office's mailbox facility is turning out to be the proverbial Pandora's box! It has kept the pharmaceutical industry guessing on how many patent applications have been filed in the 10-year period leading to the product patent ... More

IT cos make higher provisions for taxes
DOMESTIC IT companies are making greater provisions for income tax despite the exemptions available to them. This is because they increasingly have to cough up tax for their on-site operations abroad and also on `other income' generated ... More

Steel, aluminium prices hiked
FOLLOWING the price hike of Rs 500 per tonne by Steel Authority of India Ltd (SAIL), other private producers on Monday announced hike in prices of hot rolled (HR) coils by the same amount. The new prices would be in the range of Rs 28,000 per ... More

SC orders Reliance Info to pay dues within a week
THE Supreme Court today allowed BSNL to disconnect Reliance Infocomm if it did not receive the outstanding payment of Rs 84.7 crore towards access deficit charges (ADC) within a week. Rejecting a plea from Reliance to make the payment in the ... More

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