The Hindu Business Line : Thursday, May 15, 2003

Daimler set to relaunch Mercedes `C' class soon
DAIMLER Chrysler's largest selling Mercedes Benz car in India — the `C' class — will be relaunched soon with a new powerful engine both in the petrol and the diesel variants. A top Daimler Chrysler official told Business ... More

JK Ind declares 2nd interim

ACCOUNTING STANDARDS

Guide issued for auditing, accounting in NPOs
THE Institute of Chartered Accountants of India (ICAI) has issued a technical guide on Accounting and Auditing in Not-for-Profit Organisations (NPO). Releasing the Technical Guide here, the ICAI President, Mr R Bupathy said that this ... More

PREFERENTIAL ALLOTMENTS

Philips Glass to replace ECBs with domestic loans
AT a time when most companies are busy replacing their high interest rupee debts with low interest forex loans, Philips Glass India Ltd is all set to do exactly the opposite. The company has finalised plans to substitute its high-cost foreign ... More

OVERSEAS BORROWINGS

NTPC sounds Govt on ADRs — `5% of equity would net Rs 1,500 cr'
AS part of the resource mobilisation options, National Thermal Power Corporation (NTPC) has suggested to the Government that floating an American depository receipts (ADR) issue amounting to 5 per cent of its equity could net around Rs 1,500 ... More

COMPANY LAW

Govt to review cap on investment cos
WITHIN a week after the introduction of Companies (Amendment) Bill, 2003, in the Rajya Sabha, the Government has switched itself into a review mode. It is now contemplating to examine in-depth the merits of the proposed provision that would make ... More

COURTS/LEGAL ISSUES

Binny plea for Chennai land sale dismissed
THE Appellate Authority for Industrial and Financial Reconstruction has dismissed the appeal filed by Binny Ltd against the order passed by BIFR declining the plea of the company for sale of 1,260 grounds of land situated at Perambur (Chennai) by ... More

Minors drag major cos to court
A PETITION submitted on behalf of two minors, Mihir and Kushaal Khemka, in the Calcutta High Court, concerning, inter alia, Sun F&C Mutual Fund, has identified a number of corporates based in various countries, including those in Russia, Italy ... More

CORPORATE GOVERNANCE

Infy unveils ethics code to check financial frauds
WITH the accounting frauds rocking the world, Infosys Technologies has unveiled a code of ethics for its finance professionals and a whistleblower's policy to encourage and protect employees willing to share information on frauds but who choose ... More

ALLIANCES & JOINT VENTURES

ASPET ties up with German cos for export
SOUTH Asian Petrochem Ltd (ASPET) has tied up with two German companies Helm AG and Polytrade GmbH for marketing its product — bottle-grade PET resin — globally. The 100 per cent export-oriented unit, inaugurated here on Wednesday, ... More

INTERVIEW

`Nalco has no surplus manpower' — Mr C. Venkataramana, Chairman and Managing Director
NATIONAL Aluminium Company Ltd (Nalco) has always been in the news. Sometimes, because the company's performance had been good, at other times because of its investment plans abroad and more recently, due to the controversy stemming from the ... More

STANDARDS & BENCHMARKS

ISO certificate for Ocimum Bio

OUTLOOK

Costs may dent margins: Infosys — Filings with SEC list factors that could impact
OPERATING margins for software bellwether Infosys Technologies are likely to shrink further as the firm engages its engineers in increasing onsite assignments, even as it claims offshoring becoming mainstream. "While our global delivery model ... More

PERFORMANCE

SWC posts 9 pc drop in sales
SHAW Wallace & Co Ltd, the second largest Indian Made Foreign Liquor company, has reported nearly nine per cent drop in spirits sales during 2002-03. SWC's liquor division saw sales drop to 12.7 million cases in 2002-03 from roughly 13.9 ... More

Bajaj Auto: On a bumpy road
TWO-wheeler major - Bajaj Auto has reported a rather flat trend in earnings performance for the fourth quarter of the previous fiscal. Turnover for the three-month period ended March 2003 increased by about 10 per cent to Rs 1,236 crore. Total ... More

HDFC business up 30 per cent in Gulf region
HDFC registered a 30 per cent growth in business in the UAE and Gulf region in the 2002-2003 fiscal and plans are on to tie up with a service associate in Abu Dhabi shortly to extend its reach in the emirate. Mr K. Bharadwaj, Branch Manager of ... More

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