The Hindu Business Line : Friday, February 16, 2007

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CORPORATE

RESEARCH & DEVELOPMENT
Avestha Tech plans to invest in biotech park
Avestha Gengraine Technologies, a Bangalore-based biotechnology company, plans to invest about Rs 100 crore in Hyderabad to take up expansion and new research projects here. The company had earlier acquired a nine-acre site at the SP Biotech ... More

ANNOUNCEMENTS
Ranbaxy's US offices searched
Drug-maker Ranbaxy Laboratories has confirmed that its New Jersey offices were searched by Federal officials on Wednesday. No reason was given by Ranbaxy on why its US offices had been searched. In a late evening statement on Thursday, Ranbaxy ... More

Reliance board meeting on February 24
The Board of Reliance Industries will meet on February 24 to review its decision of November 2006 to raise $2 billion, said a statement from the company. These funds were intended to finance the company's capital expenditure plans for oil and ... More

INSIGHT
Doing business in a modern milieu
Commercial rectitude, once an afterthought in the managerial mind, has now become the pivotal preoccupation in corporate boardrooms. Managers are required to live with more external constraints on their behaviour imposed by regulators on behalf of a society that insists on more integrity and less commercial adventurism. More

COURTS/LEGAL ISSUES
HPL: Hearing on share transfer today
Justice Jayanta Biswas of Calcutta High Court will hear two appeals on February 16 filed by State of West Bengal and West Bengal Industrial Development Corporation (WBIDC) challenging the order of Company Law Board (CLB) ... More

MANAGEMENT
Seminar on management
Rajagiri School of Management, Kochi, is organising an international seminar on Media in the Changing World - Challenges and Opportunities on March 2 at KRL Auditorium, Rajagiri Valley Campus, Kakkanad. The seminar is an ... More

RESTRUCTURING
Bankers reject SPIC's `improved proposal' for debt revamp
Mull invoking personal guarantees More

MERGERS & ACQUISITIONS
VVF completes Colgate plant buy
To make packaged cleaning products, homecare & personal care products More

Kanan Devan seeks Commerce Ministry approval for taking over Ram Bahadur Thakur estates
The Rs 105 crore Kanan Devan Hills Plantation Company has sent a proposal to the Union Commerce Minister, Mr Jairam Ramesh, for taking over 9,000-acre tea plantations under nine estates from the Ram Bahadur Thakur (RBT) group in ... More

Tata Steel picks stake in Corus
Tata Steel Ltd on Thursday said its wholly owned subsidiary Tata Steel UK Ltd has acquired 71.36 lakhs equity share capital of Corus Group Plc, UK at 601.75 pence per share. With this above purchase, Tata Steel UK now holds 20.7 ... More

NEW PROJECTS
Vakil Housing plans gated villas in Hosur
Presaging the potential of Hosur, the industrial town in Tamil Nadu abutting Bangalore, as a magnet for rapid development, a leading real estate company from Bangalore is promoting gated villa houses at a cost of Rs 30 crore. Announcing the ... More

Ras Al Khaimah, AP sign pact for bauxite mining
Andhra Pradesh Mineral Development Corporation is expected to mine the bauxite reserves. More

Bengal's first two-wheeler project takes off
Set up by Xenitis group; production to start from March 1 More

OVERSEAS INVESTMENTS
Apollo Hospitals to pursue mergers, buy-outs overseas
Ties up with Hayel Sayeed Group for hospital in Yemen More

`Reliance's Yemen venture to come up in 3 years'
Hayel Sayeed Anam Group in tie-up with Apollo Group More

Nicholas Piramal to invest in UK
Nicholas Piramal India Ltd plans to invest $50 million (an estimated Rs 220 crore) over a three-year period in its plants in the UK and India. NPIL has invested approximately $50 million over the past three years and plans a ... More

ALLIANCES & JOINT VENTURES
Shapoorji, IIT-K tie up for Bengal Biotech park
Shapoorji Pallonji Biotech Park Private Ltd, which is part of the 600-sq. km. Genome Valley around Hyderabad, plans to forge an alliance with IIT (Kharagpur) to work on the 650-acre `Biotechnology and advanced IT Park' in West Bengal. The park ... More

Opulent ties up with HuperOptik for car window film
The Pune-based Opulent Auto Care Pvt Ltd, a player in the vehicle care products and services space, has entered into a collaboration with HuperOptik International Pte Ltd, Singapore, for ceramic coated film. Talking to presspersons, Mr S. ... More

Eros, Venus sign 3-year deal
Eros International, the leading Bollywood media and entertainment company, on Thursday announced that it has secured a three-year output deal with Bollywood film production house Venus. As a result of this deal, all films from ... More

Indian signs MoU with CFM Intl
Indian has signed an MoU with CFM International to set up a joint-venture maintenance, repair and overhaul facility in India for CFM56 engines. According to a statement, the MRO facility will "perform the full spectrum of ... More

Artemis ties up with Philips Medical for R&D in imaging
To inaugurate Gurgaon facility in April this year More

Tata Motors, Fiat may work together for small car
Tata Motors today said it was willing to collaborate with Fiat SpA of Italy for its Rs 1 lakh, the trials for which have already commenced. "The small car, which will cost around $2,200, is ready and is presently undergoing tooling. The product ... More

SOCIETY & DEVELOPMENT
Tata Motors gets Golden Peacock Global Award
Tata Motors has been conferred the Golden Peacock Global Award for Corporate Social Responsibility (CSR) in the `Large Business' category by the Institute of Directors, the international body of company directors, says a press release. The ... More

VENTURE CAPITAL
IDEB Projects gets $32-m pvt equity funding from US
To use investment to create land bank More

DivyaSree gets $100 m from TPG-Axon Capital
The city-based real estate developer DivyaSree Developers Pvt Ltd has received $100 million from TPG-Axon Capital, a global investment firm managing over $7 billion in capital, to pick up a minority stake in the company. According to a ... More

DIVERSIFICATION
Country Club plans to enter service apartments segment
Setting up of motels on cards More

OUTLOOK
Evolvence India to invest in real estate in tier II, III cities
More

PERFORMANCE
RINL marks silver jubilee on high note
The Rashtriya Ispat Nigam Ltd (RINL), which is celebrating its silver jubilee this month, has crossed many hurdles in the past 25 years and is set for a bright future, said Mr Y. Sivasagara Rao, Chairman and Managing Director. Going down ... More

PEOPLE
`Not in fray for ONGC top post'
Mr R.S. Sharma, Director (Finance), ONGC, who holds additional charge as Chairman and Managing Director of the State-owned company, said on Thursday that he would not offer his candidature for the post again. Stating that he respected the ... More