Financial Daily from THE HINDU group of publications
Saturday, November 30, 2002
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  • Ford announces lucky draw for Ikon buyers

    OPEN OFFERS


    Keep off L&T stocks, SEBI tells Grasim
    THE Securities and Exchange Board of India, which is investigating Grasim's acquisition of its initial stake in L&T last year, today directed the company not to acquire further shares of L&T in any manner until further advice. In a letter sent ... More

    `SAT verdict a warning to cos not to play with rules'
    LEGAL experts say the pointers contained in yesterday's order of the Securities Appellate Tribunal upholding SEBI's stay on the Grasim open offer for L&T shares will have far-reaching consequences on the activities of corporates and merchant ... More

    COMPANY LAW


    Should `officer in default' cover independent directors also?
    SHOULD independent directors on the boards of companies be considered as officers in default if any contravention of the provisions of the Companies Act, 1956 is found to be attributable to their consent, connivance or neglect on their ... More

    MERGERS & ACQUISITIONS


    Deepak Roy to take over Diageo's IMFL business
    LIQUOR industry veteran Mr Deepak Roy has signed a deal to takeover the global spirits giant Diageo's Indian Made Foreign Liquor (IMFL) business. Guinness UDV, part of Diageo, had put its India specific brands on sale earlier this year and Mr ... More

    Nicholas Piramal board okays Global Bulk merger
    The board of Nicholas Piramal India Ltd has approved the merger of Global Bulk Drugs & Fine Chemicals (GBDFC) with NPIL, which will be effective from January 1, 2003. According to a company release, the merger is being effected at a cost of Rs ... More

    ALLIANCES & JOINT VENTURES


    HPCL, GAIL form venture to sell eco-fuels in AP
    HINDUSTAN Petroleum Corporation Ltd (HPCL) and Gas Authority of India Ltd (GAIL) have signed an agreement to form a joint venture company - Bhagyanagar Gas Ltd - to distribute and market environment-friendly fuels in and around the cities ... More

    OIL in pact with Venezuelan firm for exploration
    THE state-run exploration firm Oil India Ltd (OIL) today signed an agreement with Venezuela's Petroleos de Venezuela, S.A. (PDVSA) for oil exploration in Baghewala oil field in Rajasthan. Mr Walter Marquez, Ambassador of Venezuela in India, ... More

    INTERVIEW


    `You can't open up economy with a small window' - Mr Hari N. Harilela, Chairman, Hong Kong-based Harilela group
    IF India is to compete with China in economic development or attracting foreign direct investment (FDI), "the Indian politicians will have to do more than change the names of cities... from Bombay to Mumbai and Madras to Chennai," is the ... More

    SICK UNITS


    BIFR confirms winding up of Real Value
    LIFE may soon be extinguished out of Maharashtra-based Real Value Appliances Ltd (RVAL), manufacturers of Ceasefire brand of fire extinguishers and vaccumizer cooking equipment, with the Board for Industrial and Financial Reconstruction (BIFR) ... More

    No clear role yet for National Company Law Tribunal — Standing Committee not for dismantling BIFR
    The DCA piloted the Cabinet note for setting up the NCLT. But a view emerging within the Standing Committee on Finance is that the repeal of the SICA might not be necessary at this point. This would mean that the BIFR would continue to exist as a par allel body. More

    OUTLOOK


    Loan subsidies to States to hit PFC bottomline
    THE Cabinet has approved the Power Ministry's proposal to extend a Centre-funded scheme to provide subsidised loans to the State power sector during the Tenth Plan period, with an annual subsidy outflow of Rs 300 crore. Unlike in the Ninth ... More

    Invensys to expand IDC; mulls BPO centre
    INVENSYS Plc, the $10 billion global enterprise engaged in production and energy management solutions, has announced that its BaaN India development centre, Hyderabad will be ramped up as a part of its $3 million investment plan to provide a wide ... More

    HLL banks on diversity to beat adversity
    Tough conditions are seen to prevail in the Fast Moving Consumer Goods (FMCG) sector in the short term. There is no relief in sight. Weak rabi season prospects, coupled with market glut and pressure from imports, continue to cap hopes for ... More


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    Top Stories
    HPCL, GAIL form venture to sell eco-fuels in AP


    Customerbroadcast set to double operations

    Spices Board steps in to check cardamom, pepper imports

    `You can't open up economy with a small window' - Mr Hari N. Harilela, Chairman, Hong Kong-based Harilela group

    LifeStyle mulls food retailing venture — Earmarks Rs 60-cr investment

    Fiscal deficit up 20.8 pc in April-Oct

    In Depth
    Gender Justice
    Simple Economics
    Small Investor
    Looking back
    Nov. 17-Nov. 23
    Public floats may come under tougher scrutiny

    `We are in no hurry for IPO' — Mr Kwang-Ro Kim, MD, LG Electronics India

    Bridgestone plans to make commodity grade tyres — To buy out ACC, Tata Engg stakes

    Ford suppliers undergoing quality certification

    Unpaid dividends, matured deposits, debentures — Auditors may have to attest co declaration

    Duncans to hive off loose tea retail biz

    SEBI, Grasim tread the thin line of demarcation


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