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Monday, January 31, 2005

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ANNOUNCEMENTS


Ritz to regain its lost glory
THE Ritz Hotel, located in the heart of the city on a picturesque hillock, will after years of uncertainty and in a partially dilapidated condition will be restored by a special purpose vehicle-supported project of Varsha Hillfort Resorts at an ... More

ACCOUNTING STANDARDS


Secretarial standards must be mandatory: ICSI
INDIA Inc could soon have laid down procedures for better compliance of corporate governance, if the proposal mooted by the Institute of Company Secretaries of India (ICSI) to make mandatory secretarial standards (SS) issued by it is accepted by ... More

CORPORATE DISPUTES


Allotment of Reliance Info shares — No discrimination against RIL shareholders
IN the ongoing stand-off between the Ambani brothers, the Reliance Group today dismissed as baseless, allegations that Reliance Infocomm Ltd (RIC) and Reliance Communications Infrastructure Ltd (RCIL) allotted shares to Reliance Industries Ltd ... More

RESTRUCTURING


Revamp helps Bajaj Electricals turn around
BAJAJ Electricals has restructured its entire operations, including shutting down some of its loss-making ventures, as part of its plans to turnaround the company. Bajaj Electricals' President and Chief Operating Officer, Mr R. Ramakrishnan, ... More

MERGERS & ACQUISITIONS


Usha Martin likely to buy wire rope manufacturing co
USHA Martin Ltd is likely to acquire a wire and wire rope manufacturing company within the next 18 months to augment the capacity of its wire and wire rope products division to 2,10,000-2,20,000 tonnes per annum from 140,000 tpa at ... More

NEW PROJECTS


Le Meridien's Appu plans Chennai resort
Le Meridien Hotels & Resorts plans to expand its presence in India with nine new properties. More

Conceria Virginia plans showroom in China
CONCERIA Virginia Chennai Pvt Ltd, which announced start of commercial production of bovine leather on Friday, plans to set up a showroom in Guangzhou, China. With the 6 million sq ft unit starting commercial production, the company is thinking ... More

Sathavahana Ispat begins work on met coke project
HYDERABAD: Sathavahana Ispat Ltd has informed the stock exchanges that the work on project for the manufacture of 3-lakh tonne per annum of metallurgical coke with co-generation of power of 30MW in Karnataka as a greenfield project has ... More

ALLIANCES & JOINT VENTURES


NLC in pact with REC for funds
NEYVELI Lignite Corporation has entered into an MoU with Rural Electrification Corporation for funds up to Rs 2,500 crore. This is in addition to similar arrangements with Power Finance Corporation (Rs 2,500 crore), State Bank of India (Rs ... More

OUTLOOK


Le Meridien to make Kochi property hub for conferences
LE Meridien, the international hotel group, plans to make its Kochi property a hub for conferences in this region, even as it intends to double its number of hotels in India over the next five years. "We will continue to grow (in India). It is ... More

PEOPLE


William Haseltine to head Matrix advisory board
HYDERABAD: DR William A. Haseltine, founder of Human Genome Sciences Inc, has been appointed Chairman of Matrix Scientific Advisory Board of Matrix Laboratories Ltd. Dr Haseltine, who was the Chairman and Chief Executive Officer of ... More

TRENDS


CPCL refuses to extend credit for naphtha — Madras Fertilizers to be shut down from tomorrow
WITH oil companies not willing to sell naphtha on credit beyond January 31, the state-owned Madras Fertilizers Ltd (MFL) will be shut down from February 1 as it does not have money to pay for naphtha. The Government owes the company more than ... More
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Looking back
Jan. 23-Jan. 29
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