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Thursday, November 23, 2006
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CORPORATE

PREFERENTIAL ALLOTMENTS
Geojit EGM okays equity issue to BNP Paribas
The extra ordinary general body meeting of Geojit Financial Services Ltd held at Kochi on Wednesday approved issue of equity shares to BNP Paribas subject to regulatory approvals. The company will issue 7.96 crore equity shares with a face ... More

CORPORATE DISPUTES
Arbitration can be better value for money
Flexibility of procedure, enforceability of awards, privacy and neutrality are some of the reasons why organisations are choosing international arbitration over litigation. More

OVERSEAS BORROWINGS
Granules India plans to raise authorised capital
The city-based pharma company Granules India Ltd (GIL) plans to increase its authorised capital from Rs 200 crore to Rs 300 crore with a corresponding increase in equity shares of Rs 10 each from 20 crore to 30 crore. The company, which has ... More

DIVIDEND ANNOUNCEMENT
Manganese Ore pays Rs 16 cr dividend
Manganese Ore India Ltd (MOIL), a public sector unit of the Steel Ministry, has paid Rs 16.25 crore dividend to the Centre for the year 2005-06. The Nagpur-based company has made a profit of Rs 114.52 crore after tax during the ... More

COURTS/LEGAL ISSUES
`Not submitting details under EPF Act is not non-application of mind'
An employer could not refuse to comply with statutory mandate to pay contribution by employees as also their share. More

HUMAN RESOURCES
ONGC invites former employees to rejoin
Looking at inducting more employees in geosciences More

RESTRUCTURING
VSNL to trim subsidiaries
Videsh Sanchar Nigam Ltd plans to prune the number of its subsidiaries by almost half. The company intends to bring down the number from 50 to less than 30, in a major restructuring exercise, said a spokesperson for the company. ... More

MERGERS & ACQUISITIONS
Ten in Zee net
A ball-by-ball analysis of Zee Television's acquisition of Ten Sports and what it means to cricket telecast in the country. More

Listed cos takeover: SEBI concern over FDI thru automatic route
Such takeovers can also lead to asset stripping of cash rich Indian companies: SEBI More

Tata Projects in talks with Artson Engg for takeover
Tata Project Ltd is in talks with Artson Engineering, an engineering, procurement and construction (EPC) firm specialising in piping and large diameter tankages, for a takeover. According to banking sources, immediately after clearance of ... More

`Corus shareholders can sit back and wait to see what happens'
Even as moves and countermoves keep CSN (Cia Siderurgica Nacional) and Tata busy, the battle for Corus continues to be the hot issue in the corporate world. For a view from the UK, Business Line contacted Mr Roy Montague-Jones of Richards ... More

ICI India to sell entire stake in Quest
Paints and chemicals firm ICI India Ltd, a subsidiary of UK's ICI Plc, has announced its plans to sell its entire stake in its wholly owned subsidiary Quest International India Ltd (Quest India) for not less than Rs 390 crore to Switzerland's ... More

Gateway Distriparks acquires 50.1 pc stake in Snowman
Forays into cold chain logistics segment More

CORPORATE GOVERNANCE
7 principles of highly ethical corporates
A recent press release on the Institute of Chartered Accountants of India (www.icai.org) site was about something important: Guidance from the International Federation of Accountants (IFAC) for companies developing codes of conduct. ... More

NEW PROJECTS
Engineers India appointed HPCL project consultant
For Bhatinda refinery project More

Coromandel Fert to begin production in Jammu soon
Coromandel Fertilisers Ltd will start production of pesticide formulations at Jammu in a month's time, according to company officials. The unit, which will manufacture insecticides in liquid and powder forms, will have a capacity of 30-40 ... More

ALLIANCES & JOINT VENTURES
EIL, Punj Lloyd bid for Libya refinery revamp
More

Great Eastern Energy, Indian Oil in 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

Tata Power signs pact with Tata Steel for captive plants
The Tata Power Company Ltd on Wednesday signed a joint venture agreement with Tata Steel to set up captive power plants in Chattisgarh, Orissa and Jharkhand. Tata Power will hold 74 per cent equity and Tata Steel 26 per cent in the joint ... More

DIVERSIFICATION
Parveen Travels plans 3-star hotel
Parveen Travels, a Chennai-based company that operates buses for packaged tours and daily trips besides offering cargo and courier services, proposes to set up a three-star hotel with boarding and lodging facility on the Old ... More

L&T to set up Rs 2,000-cr shipyard
Shortlists AP, TN, Gujarat; location to be finalised by Jan More

OUTLOOK
Honda Siel to roll out new model next week
Consumers looking for a new set of hot wheels can look forward to fresh action in the premium segment, with Honda Siel Cars India now all set to roll in the all-new, third-generation Honda CR-V on November 28. Top sources told Business ... More

Coromandel Fert looks at value-added products
Coromandel Fertilisers is exploring options to make value-added products using gypsum generated as waste at its fertiliser unit in Visakhapatnam, according to company officials. The Murugappa Group company is in talks with an overseas ... More

PERFORMANCE
Manganese Ore pays Rs 16 cr dividend
Manganese Ore India Ltd (MOIL), a public sector unit of the Steel Ministry, has paid Rs 16.25 crore dividend to the Centre for the year 2005-06. The Nagpur-based company has made a profit of Rs 114.52 crore after tax during the ... More






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Looking back
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