COURTS/LEGAL ISSUES
Amway comes under scanner of Drug Control authorities
AMWAY India, wholly-owned subsidiary of the US-based Amway Corporation, has been caught in a controversial situation. The company has, for the second time, come under the scanner of the Drug Control Authority at least in one state - Kerala ... More

IPR
TVS Motor seeks to patent new engine technology
TVS Motor Company has sought a patent for the technology it has developed for its latest vehicle, the TVS Centra. The engine technology, which the company calls `VTi' (for variable timing intelligent), has three components in it — friction ... More

RESTRUCTURING
Haldia Petro's debt recast exercise in final lap
THE corporate debt restructuring (CDR) exercise of Haldia Petrochemicals Ltd (HPL) entered the final lap with a meeting being held between the heads of two of HPL's key promoters and the lead financial institutions. Talking to Business ... More

MERGERS & ACQUISITIONS
NCL Seccolor merged with Alltek Coating
NCL Seccolor Ltd (NSL), a sick company engaged in manufacture of cold rolled steel profiles for windows, doors and partitions, has been amalgamated with Alltek Coating Products Ltd (ACPL), a closely held unlisted company engaged in the ... More

Aurobindo Pharma promoter sells 1.4 pc stake
AUROBINDO Pharma Ltd, Ms P. Suneela Rani, has sold 6,80,000 equity shares of Rs 5 each of the company, constituting 1.4 per cent of equity of its current paid-up equity of Rs 24.2 crore. These shares were sold in the open market from December ... More

NEW PROJECTS
ONGC board okays Rs 900-cr investment in extraction plant
THE board of Oil and Natural Gas Corporation has approved a proposal to invest Rs 900 crore in a five-million-tonne C2-C3 extraction plant. The plant, to be located in the special economic zone of Dahej, Gujarat, will extract methane (C2) and ... More

TVS Motor plans 2 units in Asean region
TVS Motor Company plans to set up two production centres in the Asean region — rather than only one, as announced earlier. The company's Chairman and Managing Director, Mr Venu Srinivasan, told Business Line on Monday that the ... More

SICK UNITS
BIFR gives Vadilal time to reach agreement with secured creditors
THE Board for Industrial & Financial Reconstruction has directed the ailing Vadilal Dairy International Ltd (VDIL) and its secured creditors to arrive at an agreement on their dues within a stipulated time. In case an agreement is arrived at, the More

Delay in debt revamp plan holds up Duncans' recovery
STATE Bank of India is yet to clear the debt restructuring programme of the ailing Duncans Industries Ltd. As a result, the company is unable to reopen its fertiliser unit, finalise its accounts or sell any of its tea gardens. According to ... More

OUTLOOK
Tata Group to focus on global biz this year
``This year we will also be focusing on expanding our business internationally. This will demand that our products and services are globally competitive and that our enterprises operate to international standards in terms of quality and customer ... More

Strike not to impact Kennametal profit for now, says MD
KENNAMETAL Widia India Ltd's topline and profit are not likely to be affected if the workers who have struck work in the company's Bangalore plant return to their duties soon, the Managing Director, Mr Kumar Kanetkar, has said. "It's too ... More

Valji eyeing TN, Kerala markets
THE Mumbai-based Valji Group, a major player in school uniform fabrics, plans to enter the Tamil Nadu and Kerala markets by strengthening its distribution network this year. The company has plans to market its uniform fabric brand, Darshan's ... More

PERFORMANCE
Eicher posts 52% increase in December sales
EICHER Motors Ltd (EML) has recorded its highest ever month sale of 1,656 commercial vehicles in December 2003 - an increase of 52 per cent over 1,093 units in December 2002, the company said in a statement on Monday. The cumulative ... More

Tata Motors sales up 67 pc in Dec
TATA Motors today reported a 67.3 per cent rise in total sales (including export) for December 2003 to 26,253 vehicles, as against 15,695 vehicles in the previous corresponding year. Sales for the April-December period was up 47.5 per cent at ... More