The Hindu Business Line : Wednesday, April 30, 2003

Wockhardt institute emerging learning hub for cardiologists
THE Bangalore-based Wockhardt Hospital and Heart Institute is fast becoming a training ground for cardiac surgeons, both from within and outside the country. Currently, three cardiac surgeons from China are at the fag end of their training ... More

Essar Oil to get Rs 36-cr excise refund
ESSAR Oil Ltd (EOL) has been allowed a refund of Rs 36 crore by the Customs Excise and Gold (Control) Appellate Tribunal (CEGAT) towards excess duty paid for goods imported at its refinery in February 1999. The refund has come four years after ... More

Cummins declares Rs 4 interim
CUMMINS India Ltd has declared an interim dividend of 200 per cent for the year ended March 31, 2003. According to a company statement, the interim of 200 per cent (Rs 4 per share of Rs 2 each) includes 125 per cent as a special one-time ... More

COMPANY LAW

Cos Bill cleared
THE Union Cabinet has cleared the Companies (Amendment) Bill 2003, which seeks to define auditor-company relationship and prescribe stiffer penalties for non-compliance. This paves the way for the repeal of the Companies Act, 1956, and the ... More

AWARDS & HONOURS

Fapcci invites entries for annual awards
THE Federation of Andhra Pradesh Chambers of Commerce and Industries (Fapcci), a premier chambers with over 2,600 members in the State, has announced the annual awards programme for the year 2002-03. Inviting entries for 19 awards, Mr Omprakash ... More

COURTS/LEGAL ISSUES

Bank guarantees: HC restrains UB Engineering
MR Justice Pinaki Chandra Ghose of Calcutta High Court restrained UB Engineering Ltd, a Mallya Group Company, not to invoke two bank guarantees amounting Rs 7 crore and also Industrial Development Bank of India (IDBI), which issued the bank ... More

ENVIRONMENT

An enviable green
TCS is putting in place an eco drive, beginning with Chennai. This shade of green is surely welcome. More

CORPORATE GOVERNANCE

Legislation for corporate governance opposed
INDIA Inc. on Tuesday opposed any form of legislation for corporate governance. Voicing concern at a session on corporate governance at the Confederation of Indian Industry (CII) national conference and annual session here, the captains of the ... More

NEW PROJECTS

NetApp to set up tech centre
STORAGE solution vendor Network Appliance is setting up a technology centre here to offer engineering, customer support and professional services. The company plans to invest between Rs 50 crore and Rs 75 crore in the new centre, which is ... More

SICK UNITS

NTC arm in TN revises bids for surplus land
The revised reserve price now arrived at for each parcel of land is the average of the three valuations - that of the value taken in the revival scheme, the value of the independent valuer's evaluation and that of the Central Board of Direct Taxes (CBDT) value indexed for 2002-03. More

OUTLOOK

Skoda India lowers sales target
SKODA Auto India Pvt Ltd, in the process of shifting to CKD (completely knocked down) operations from SKD (semi-knocked down) operations, has lowered its earlier sales target of 8,500 cars during 2003 to 4,500, unchanged from 2002. The shift ... More

PERFORMANCE

Focus brands drive up GSK net 52 pc
PHARMA major GlaxoSmithKline Pharmaceuticals Ltd has registered a 52.43 per cent rise in net profit at Rs 35.09 crore in the quarter ended March 31, 2003, against Rs 26.04 crore in the corresponding period last year. Mr S. Kalyanasundaram, ... More

Grasim: Resting on solid gains
A COMBINATION of good volumes in cement, which has offset lower prices to some extent, and continuing strength in its viscose staple fibre (VSF) business has helped Grasim Industries post a strong show in the January - March 2003 quarter. Its ... More

Tata Chem: Starting with a clean slate
PRUDENT provisioning appears to have saved Tata Chemicals' financials from considerable damage due to the recent revision in urea retention prices, with retrospective effect. The contingency provision that the company had made to meet this ... More

Whirlpool to seek nod for waiver of royalty payment
WHITE goods major Whirlpool of India Ltd, which had in 1997 postponed royalty payment to the parent company, Whirlpool Corporation, till 2002, has now decided to further seek Government approval for waiver of royalty payment for another two years ... More

ECONOMIC OFFENCES

Xerox Modicorp probe report likely by June
THE independent investigator appointed by the Department of Company Affairs (DCA) to probe into the scam involving payoffs by Xerox Modicorp Ltd is likely to submit its report by the end of June this year, almost a year after it was ... More

PEOPLE

Not exiting, says Britannia's Alagh
QUASHING market talk of an imminent departure from the driver's seat at Britannia Industries Ltd (BIL), the Chief Executive Officer, Mr Sunil Alagh, has said that he is "very much in control". However, he is going on a month-long leave beginning ... More

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