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Wednesday, November 22, 2006
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CORPORATE

OVERSEAS BORROWINGS
Sun Pharma to allot shares
Sun Pharmaceutical Industries Ltd will allot 4,62,875 equity shares of Rs 5 each at a premium of Rs 724.30 per share upon conversion for 7,500 zero coupon foreign currency convertible bonds (FCCB) of $ 1,000 each into equity ... More

COURTS/LEGAL ISSUES
Sarda bail plea rejected
A Division Bench of the Calcutta High Court comprising Mr Justice Alok Kumar Bose and Mr Justice T.K. Giri on Tuesday rejected the anticipatory bail petition of Jagadish Prasad Sarda, an accused in the case pertaining to supply ... More

HC rejects ONGC plea for tax exemption from Puducherry
The Madras High Court has turned down the plea of Oil & Natural Gas Corporation (ONGC) to direct the Union Territory of Puducherry to continue exemption granted earlier from payment of motor vehicle tax for its vehicles. Dismissing a writ ... More

RESTRUCTURING
BPL board to meet on Nov. 23
BPL Ltd will seek its board's approval for a proposal to lease or transfer its alkaline battery business to a joint venture. Company sources said that one of the joint venture partners will be a private equity investor; no names ... More

MERGERS & ACQUISITIONS
Ownership change not to impact Reader's Digest operations in India
Efforts on to increase offerings from non-magazine business More

Takeover battle for Corus looms large
More

NEW PROJECTS
GM lays foundation stone for Talegaon plant
To manufacture mini car Chevrolet Spark More

Fortune Select opens for business
Fortune Select Palms, the IT Corridor's first deluxe hotel, opened for business this week. Mr Vikram Aggarwal of VVT Hotels, who developed this property with an investment of Rs 30 crore, owns the hotel. VVT Hotels has a management, operations ... More

BJN Hotels in expansion mode
4 restaurants, 2 banquet halls planned in Hyderabad More

ALLIANCES & JOINT VENTURES
Godrej Aadhaar, HPCL tie up
Godrej Aadhaar, the agri services-cum-retail initiative of Godrej Agrovet Ltd (GAVL), on Tuesday signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) to establish the Aadhaar Express, small format Godrej Aadhaar stores, at HPCL's ... More

Great Eastern Energy, Indian Oil enter pact
Great Eastern Energy Corporation Ltd (GEECL) plans to form joint venture with IOC for marketing and distribution of city gas and compressed natural gas (CNG) in the Durgapur-Asansol industrial belt in West Bengal, according to a GEECL release. ... More

SOCIETY & DEVELOPMENT
McDonald's contributes for a cause
McDonald's India has announced the completion of its annual fundraiser, McDonald's World Children's Week 2006 `Each One Contribute One'. The month-long campaign garnered proceeds for vision correction of the visually and ... More

OUTLOOK
MLR Motors in talks with European co for `small car'
Rs 1,250-cr greenfield plant in Andhra Pradesh More

Cairn expects more from Rajasthan field
There is more to Mangala than Cairn Energy cares to admit at this point in time. The company has said that there are a billion barrels of oil in Rajasthan field, of which the company expects to get 400 million barrels out of ground. A recovery ... More

Reliance Energy emerges lowest bidder for PowerGrid projects
`Western Region Strengthening Scheme' in Gujarat, Maharashtra More

Ultra Motors plans electric 3-wheeler venture
UK-based Ultra Motors, which is all set to roll out electric bikes in India in a tie-up with the Hero Group starting January, now plans to enter the electric three-wheelers and higher-powered two-wheelers category as well. "We will be ... More

PEOPLE
U.D. Choubey frontrunner for GAIL chief's post
The Director (Marketing) of GAIL (India) Ltd, Mr U.D. Choubey, seems to have emerged as the front runner in the race for the Chairman and Managing Director of state-owned gas transmission and marketing company. Mr Choubey and seven others ... More






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