The Hindu Business Line : Tuesday, May 17, 2005

Wyeth sells toothpaste brand Forhans to John Oak Remedies
Earlier owned by Geoffrey Manners, Forhans had its heydays in the 1970s. It came to the Wyeth-stable, when the two companies merged in July 2002. More

IVRCL gets NHAI contracts
HYDERABAD: IVRCL Infrastructures & Projects Ltd has announced that it has received fresh contracts of the aggregate value of Rs 393 crore. The first project is the four-laning of the National Highways Authority of India (NHAI) Road in ... More

Indo Asian plant goes on stream
NEW DELHI: Indo Asian Fusegear Ltd said on Monday that its new plant for compact fluorescent lamp (CFL) has become operational. The plant, set up with a Rs 10-crore investment in Noida, will enable the company produce special CFLs, ... More

Sujana deal with Schneider
HYDERABAD: Sujana Industries Ltd has announced that Schneider Electric has selected the company for the development of precision engineering components. In a communication to stock exchanges, the company said Schneider Electric is a ... More

Orient Paper bags 2-star status
NEW DELHI: A certificate of recognition has been issued by the Office of the Joint Director-General of Foreign Trade, Ministry of Commerce and Industry, conferring "Two Star Export House" status to Orient Paper & Industries Ltd from April ... More

CORPORATE DISPUTES

`Anil has complained about Reliance Group'
THE Minister for Company Affairs, Mr Prem Chand Gupta, has said that his Ministry has received complaints against Reliance Group from Mr Anil Ambani, Vice-Chairman and Managing Director, Reliance Industries Ltd. He, however, refrained from ... More

COMPANY LAW

Ministry may accept ICWAI's request for name change
THE attempts of the Institute of Cost and Works Accountants of India (ICWAI) to seek a change in nomenclature may finally yield results. Indications are that the Ministry of Company Affairs may accept its request of changing the name of the ... More

AWARDS & HONOURS

ITC wins `Golden Peacock' award
ITC Ltd has won the `Golden Peacock Global Award for Corporate Social Responsibility (CSR) in Emerging Economies for 2005.' The award was presented to the company in London recently by Dr Ola Ullsten, former Prime Minister of Sweden, who also ... More

Bharti judged Asia's best GSM operator
NEW DELHI: Bharti Tele-Ventures has been judged as the best GSM operator in Asia in the 2005 Telecom Asia Awards. The company's Chairman and Group Managing Director, Mr Sunil Mittal, was given the `Best Asian Telecom CEO' award. "A 12 ... More

IPR

2 cos file lawsuit against Ranbaxy for patent violation
TOKYO-based Astellas Pharma Inc and Boehringer Ingelheim Pharmaceuticals Inc (BIPI), the US subsidiary of Boehringer Ingelheim of Germany, have jointly filed a patent infringement lawsuit in the US against Indian pharmaceutical major Ranbaxy ... More

RESTRUCTURING

HLL clears transfer of tea estates
NEW DELHI: HLL on Monday said that its shareholders have approved the transfer of the tea plantation businesses in Assam and Tamil Nadu. The Doom Dooma Division in Assam and the Tea Estates India Division in Tamil Nadu comprise gardens ... More

Bhagyanagar Metals to rejig biz
HYDERABAD: Following the clearances by its board of directors, Bhagyanagar Metals Ltd plans to restructure its business to focus on telecom, metals, investment and infrastructure. The company intends to continue as a metals and ... More

MERGERS & ACQUISITIONS

Neelachal Ispat: SAIL bid for stake hits roadblock
SAIL's bid to acquire a strategic stake in Neelachal Ispat Nigam Ltd is facing a roadblock. The proposal, which is now with the Union Steel Ministry, will be placed before the Committee of Secretaries shortly. With a Rs 1,000-crore investment ... More

Petroleum Ministry examining concern over IOC-IBP swap ratio
THE merger of IBP with Indian Oil Corporation may take some time. The Petroleum Ministry is examining the issues raised by the Finance Ministey on the IBP-IOC swap ratio for the proposed merger and respond to the latter in a week's time. ... More

NEW PROJECTS

Pure Petrochem plans facility in Chennai
PURE Petrochem India Pvt Ltd, makers of the Action brand of speciality greases and lubricating oils, plans to start a manufacturing unit in Chennai. The Thiruvananthapuram-based company, which has two manufacturing units here, plans to ... More

ALLIANCES & JOINT VENTURES

Srei Capital forms consultancy joint venture with Bengal
SREI Capital Markets Ltd (SCML), a member of the Srei Infrastructure Finance group, has entered into a 51:49 per cent project consultancy joint venture with West Bengal Industrial Development Corporation Ltd (WBIDC) for the purpose of ... More

Bajaj Auto signs deal with Approva Corpn
TWO and three-wheeler manufacturer Bajaj Auto has signed a deal with Approva Corporation to use its BizRights software to manage enterprise controls and improve business processes, said a press release. Bajaj Auto uses its SAP system to process ... More

DIVERSIFICATION

KRBL plans foray into seeds, rice bran oil biz
THE Delhi-based KRBL Ltd, producer of the India Gate brand of basmati rice, is planning to make a foray into the business of seeds, rice bran and furfural oil by the end of September, this year. According to Mr Anil K. Mittal, Chairman and ... More

OUTLOOK

IOC to lose Rs 3,600 cr in April-May
INDIAN Oil Corporation Ltd will have to bear a hit of Rs 3,610 crore on lower realisation from petroleum products sales in April and May alone. IOC has lost Rs 2,045 crore on kerosene and cooking gas sales and Rs 1,565 crore on petrol and ... More

Bajaj Auto goes in for FMCG biz model to become top player
BAJAJ Auto's new Managing Director, Mr Rajiv Bajaj, is taking a leaf out of the FMCG business model to take his company to the No 1 slot. Mr Bajaj has kicked off a project to completely restructure the company's retail network and create ... More