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Wednesday, January 05, 2005

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ANNOUNCEMENTS


NTPC firms up capital outlay of Rs 8,550 cr
NATIONAL Thermal Power Corporation (NTPC) has firmed up a capital outlay of Rs 8,550 crore for the year 2005-06, which will be funded on a 70:30 debt-equity ratio, the company informed the Bombay Stock Exchange on Tuesday. The State-run power ... More

CORPORATE DISPUTES


Cairn Energy: Ministry seeks legal opinion on production cess payment
THE Petroleum Ministry has sought legal opinion on the dispute over payment of a production tax by Cairn Energy of UK on the crude oil it plans to produce from the Barmer district in Rajasthan. "Cairn Energy signed a contract for the Rajasthan ... More

COMPANY LAW


Partnership firms: Professionals want provisions to be reviewed
WITH the growing trend among companies to seek specialised consultancy services from multi-disciplinary firms, professionals such as company secretaries and chartered accountants have urged that the provision for incorporating partnership firms ... More

COURTS/LEGAL ISSUES


Eveready case: HC stays CLB order on independent directors
IN an interim order, the Calcutta High Court has stayed the recent Company Law Board (CLB) order on the appointment of three independent directors on the board of Eveready Industries India Ltd, the flagship company of BM Khaitan. According to a ... More

MERGERS & ACQUISITIONS


Birla Group to merge two sugar mills
ERNST & Young is helping the KK Birla Group in its move to consolidate two out of its existing four sugar companies. The four sugar companies of the group are New India Sugar Mills Ltd, Upper Ganges Sugar & Industries Ltd, Oudh Sugar Mills Lt More

Pantaloon buys 68 pc stake in Indus-League
THE Kishore Biyani-managed Pantaloon Industries has acquired 68 per cent stake in Indus-League Clothing Ltd, which owns lifestyle apparel brands — Scullers and Indigo Nation. Pantaloon picked up the stake from ICICI Ventures for Rs 24 ... More

SOCIETY & DEVELOPMENT


India Inc rushes aid
CORPORATES and business houses in the country are contributing generously towards relief and rehabilitation efforts in tsunami-hit areas. Hyundai Motor India Ltd (HMIL) has contributed Rs 2 crore towards the current relief and rehabilitation ... More

BONUS ANNOUNCEMENTS


LCC Infotech board okays 1:1 bonus
THE board of directors of LCC Infotech Ltd, which met here today, has proposed to issue bonus shares in the ratio of one equity share for every equity share held. An extraordinary general meeting of the company's shareholders has been convened ... More

PERFORMANCE


SkodaAuto sales up 55 pc
SKODAAUTO India has ended the year 2004 with a 55 per cent growth in sales at 7,200 vehicles against 4,656 vehicles sold in 2003. This compares well with the industry growth of 24 per cent, SkodaAuto said. For 2005, SkodaAuto has stepped up ... More

Eicher sales rise 35 pc in Dec
COMMERCIAL vehicle maker Eicher Motors Ltd sold 2,243 vehicles in December, up 35.4 per cent from 1,656 units in December 2003, the company said in a statement today. The company's cumulative sales of commercial vehicles for the April-December ... More

Hyundai sales up 61 pc in Dec
VEHICLE sales at Hyundai Motor India rose 61 per cent in December, helped by robust domestic and export demand, the company said in a statement. The company sold 19,929 vehicles in December and 2,15,630 units in 2004, up 43 per cent from the ... More


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