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Thursday, October 13, 2005


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CORPORATE

ANNOUNCEMENTS


ratiopharm opens R&D centre in Goa
The Goa project, the first in Asia, which is in its first phase, has an investment of Rs 75 crore and an equal amount would be invested in the second phase. More

Tata BP Solar unveils mini pumps
Tata BP Solar India Ltd has launched two water supply and heating system products. Talking to presspersons, Mr Arvind Karandikar, Head, Western Region, Tata BP Solar India Ltd, said Lotus 400 and Lotus 800 mini pumps are meant for domestic use. ... More

CORPORATE DISPUTES


UK court restricts launch of Ranbaxy's cholesterol drug — Pfizer says ruling will protect UK turf from generic competition
THE United Kingdom High Court of Justice today restricted Ranbaxy Laboratories Ltd from launching early its generic version of Pfizer's cholesterol reducing drug, Lipitor, in the UK. The court upheld the exclusivity of the main patent covering ... More

INSIGHT


Preference in conversion
T. V. Narayanaswamy on the applicability of Takeover Regulations to the conversion into equity shares of preference shares which carry voting rights More

Laws and their extra-territorial applicability
Are foreign companies beyond the fringe benefit tax regime, asks Jayesh Kariya More

Independent directors and vicarious liability
Independent directors are invited to sit on the board purely for their special skills and expertise in particular fields and they represent the conscience of the investing public. As long as they show due diligence, the law should exempt them from all types of liabilities for the actions of the board or the managing director they may not be aware of. In the absence of such safeguards, no worthwhile talent can be expected to join a company's board in the capacity of an independent director. More

CORPORATE


`FBT not in tune with spirit of liberalisation'
WHEN the international community is looking afresh at India as an emerging economy, the Government needs to do positive things to make sure that nothing is done to affect investments flows. Participating in a workshop on fringe benefit tax ... More

ENVIRONMENT


20 sugar, cement, paper projects likely to trade carbon — Methodologies for fly-ash mixing, power generation from bio-residues cleared
TWENTY Indian projects from the sugar, cement and paper and pulp sectors, seeking to trade carbon, are likely to be registered soon at the United Nations Framework Convention on Climate Change (UNFCCC) with the Clean Development Mechanism (CDM) ... More

INFORMATION TECHNOLOGY


GAIL shifts from cheques to e-payment
The Central Vigilance Commissioner has noticed the GAIL experiment with 100 per cent e-payments along with its obvious advantage of transparency. The CVC has now held this as a model for other PSUs to follow. More

RESTRUCTURING


IVRCL Infrastructures forms holding cos for new projects
IVRCL Infrastructures & Projects Ltd, the Rs 1,054-crore infrastructure projects major, has embarked upon a business reorganisation programme with the help of the global consultancy company Deloitte. IVRCL, currently specialising in water ... More

Dalmia Cement to hive off sugar division
DALMIA Cement (Bharat) Ltd, which has interests in cement and sugar, plans to restructure itself into companies that deal with these two businesses separately. It has floated a subsidiary, Ramnagar Chini Mills Ltd, to undertake sugar ... More

TV18 consolidates media biz, to create 2 listed entities
TELEVISION Eighteen (TV18) today announced a consolidation of its media business to set up two listed entities within the group. The two listed entities to be created are Television Eighteen India Ltd with both the business news channels, ... More

NEW PROJECTS


Ma Foi launches subsidiary in US
CHENNAI: Ma Foi Management Consultants, a recruitment firm, has launched its US operations through a wholly-owned subsidiary in Iselin, New Jersey. Ma Foi Consultants US will initially focus on executive search, and permanent staffing ... More

IP Rings' new plant goes on stream, to double turnover next year
IP Rings' Rs 16-crore manufacturing facility for producing synchrocones and bevel gears has recently gone on stream. In a full year of production, the facility will yield a turnover of Rs 50 crore, Mr N. Venkataramani, Director, IP Rings Ltd, ... More

Hotel Leelaventure on expansion mode — To add 1,000 rooms in next 3 years
THE Mumbai-based Hotel Leelaventure Ltd, which owns The Leela Palaces and Resorts chain of luxury hotels, is in the midst of an expansion drive that will see it adding around 1,000 rooms over the next three years. The company will start hotels ... More

OVERSEAS INVESTMENTS


Progeon to open centre in China
PROGEON, the BPO subsidiary of Infosys Technologies, plans to open a centre in China and it is likely to be operational the next financial year. "The China centre will mainly cater to our existing global clients," said Mr Akshaya Bhargava, CEO ... More

Monnet Ispat set to acquire manganese mine in Africa
MONNET Ispat Ltd has decided to move beyond Indian shores and acquire mines abroad. The company is in an advanced stage of negotiations with an African company for acquiring a manganese ore mine in Africa. Sources involved in the negotiation ... More

ALLIANCES & JOINT VENTURES


Reliance in talks with Woodside of Australia for oil, gas imports
AFTER GAIL's announcement that it is planning to invest $500 million in Australia's energy fields, it is now the turn of the largest domestic private sector energy company, Reliance Industries Ltd (RIL), to look at that country. Reliance is in ... More

BEML, Korean co Rotem tie up to build aerobridges
BHARAT Earth Movers Ltd has signed a memorandum of understanding with South Korea's Rotem for the manufacture and marketing of aerobridges deployed at airport terminals. Rotem has supplied aerobridges to airports in South Korea and outside. ... More

ONGC, Mittal group ink pacts to float joint ventures
ONGC and Mittal Investment Sarl, the investment arm of Mittal Steel, on Tuesday signed two definite agreements to form ONGC Mittal Energy Ltd (OMEL) and ONGC Mittal Energy Services (OMESL), an official communiqué said. Mr Subir Raha, Chairman ... More

PEOPLE


American Power gets new V-P for Asia-Pacific
AMERICAN Power Conversion (APC), the power protection company headquartered in Rhode Island, on Tuesday announced the appointment of Mr David Wesley Plumer Jr. as the Vice-President of Asia Pacific operations. Mr Ed Bednarcik, Vice-President, ... More
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Oct. 2-Oct. 8
BSNL sends disconnection notice to Tata Tele — SC hearing today on appeal against tribunal order on ADC

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HC restrains DDA from physical possession of Escorts Heart


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