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Friday, September 08, 2006
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CORPORATE

ANNOUNCEMENTS
PMCI platinum hunt back on rails
Merrill Lynch, Fidelity-controlled FMR Corporation and two other investors have put back the first serious platinum exploration efforts in India on rails. Platinum Mining Corporation of India (PMCI), a British company, which was spearheading ... More

Essar's Vadinar terminal to be commissioned by month-end
Location expected to give access to markets in north, west More

CORPORATE DISPUTES
CLB order on Halida Petro by October
The Company Law Board (CLB) may pass its final order on Haldia Petrochemicals Ltd (HPL) by the end of October, Mr S. Balasubramanian, Chairman, CLB, has indicated. HPL is at the centre of a legal battle between the government of ... More

COURTS/LEGAL ISSUES
Kirloskar Computer Services' plea dismissed
A plea to set aside an arbitration award reached on the basis of an agreement between two parties could not assail it under Section 34 of the Arbitration and Contract Act, 1996, the Madras High Court has held. Dismissing a petition by Kirloskar ... More

ACCOUNTANCY
ICAI to draft CA curriculum for UAE
Also to explore possibilities of forming a body there More

RESTRUCTURING
Star Paper Mills: `Asset rejuvenation plan by mid-2007'
The Chairman of Star Paper Mills Ltd (SPML), Mr G.P. Goenka, here on Wednesday indicated that the company's ongoing "asset rejuvenation" plan was expected to be completed by the middle of 2007. Although the completion of the plan might raise ... More

MERGERS & ACQUISITIONS
Sizzling days for M&A closer home too
The first half of 2006 saw India deals, both inbound and outbound, worth more than $25 billion More

Adlabs Films to acquire 51 pc in Synergy Communication
Letter of intent for acquisition has been signed More

Royal Philips Electronics eyes acquisitions in emerging markets
Royal Philips Electronics plans to acquire companies in the consumer electronics space in emerging markets, including India. "We are evaluating small and medium-scale companies," the Philips Consumer Electronics' Chief Executive Officer, Mr ... More

Media West picks up 60 pc stake in UNI
Media West Ltd, an investment vehicle of Essel group, has acquired a 60 per cent stake in the domestic news agency United News of India (UNI). The proposed stake, which is being acquired for a consideration of not more than Rs 50 crore, is still ... More

Grasim acquires cement unit in HP
AV Birla group company Grasim Industries Ltd on Thursday said it has acquired a small cement unit for Rs 10 lakh. The company acquired 50,000 equity shares of Himachal Pradesh-based Harish Cement Ltd for Rs 20 each, it said. The ... More

Chemplast Sanmar acquires PVC pipes biz
Chemplast Sanmar Ltd, the flagship company of the Chennai-based Sanmar Group, has acquired the PVC pipes businesses of Polytrusions Pvt Ltd and Vinplex Pvt Ltd. The manufacturing facilities of these two companies combined have ... More

Sangam shareholders to meet on Sept 10
The shareholders of Sangam (India) Ltd (SIL), a manufacturer of polyester viscose dyed yarn will meet on September 10 in Bhilwara, Rajasthan, to consider the amalgamation of Sangam Processors Bhilwara Ltd (SPBL) with the company, pursuant to the ... More

Tata Tea to raise more funds
The board of Tata Tea Ltd will be meeting on September 14 to consider a proposal to raise additional funds for the company's growth plans, the company said in a statement to the stock exchanges. Tata Tea probably requires the ... More

NEW PROJECTS
ACC plans Rs 1,000-cr capacity expansion
To set up 50 ready mix concrete units, launch new varieties More

Priyadarshini Spg hires Technopak
Priyadarshini Spinning Mills Ltd has appointed Technopak to provide consultancy for its new apparel manufacturing venture for a two-year period. Technopak will focus on strategy, training and productivity. It will help the Rs ... More

OVERSEAS INVESTMENTS
RBI issues norms for financial entities investing abroad
Indian entities in the financial sector investing directly in overseas ventures engaged in financial and non-financial activities have to obtain approvals from domestic and foreign regulators, according to an RBI notification. The Indian entity ... More

REGULATORY BODIES & RULINGS
Hindalco gets relief in CESC supply issue
The Appellate Tribunal for Electricity has overturned an earlier ruling by the West Bengal State Electricity Regulatory Commission allowing distribution utility CESC Ltd to disconnect supply to the AV Birla Group firm, Hindalco Industries, in the ... More

ALLIANCES & JOINT VENTURES
Oyzterbay plans joint venture with German co
Oyzterbay is set to enter into a joint venture with a German company for retailing its products at the 56 Oyzterbay shop-in-shops in the country, according to a company official. He, however, declined to reveal the name of the company. The ... More

Brigade in pact with Banyan Tree Hotels
The properties are situated 12 km away from Chikmagalur town and is being designed with a focus on eco-tourism. More

SICK UNITS
SIV assets sold for over double the upset price
Residential properties in Coimbatore, which came up for auction, fetched Rs 2.45 crore More

Rs 124-cr wage arrears package cleared for 15 sick CPSEs
New wage panel for PSE workers soon More

OUTLOOK
Cairn working on apt mode to disclose reserves
DGH may issue notice to the company seeking clarification More

Bayer Diagnostics shareholders await special `interim' dividend
Dividend could be in the region of Rs 126 per share More

MRPL losing interest in PMT oil?
An ONGC subsidiary, MRPL had expressed interest in lifting the Bonny Light variety of crude produced by PMT on a long-term basis, earlier this year. The move required amendment in the product-sharing contract and nomination of MRPL in place of ... More

PMT venture plans further capacity expansion
Studying prospects of the fringe areas of existing oilfields More

ONGC okays Rs 2,305-cr grant for Mumbai Heera fields
The Oil and Natural Gas Corporation (ONGC) board has approved an investment of Rs 2,305.30 crore for redevelopment of Heera and South Heera fields at Mumbai offshore. In a statement, the oil major has said that the redevelopment would enhance ... More






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Top Stories
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RBI issues norms for financial entities investing abroad

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ACC plans Rs 1,000-cr capacity expansion

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Looking back
Aug. 27-Sep. 2
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