Dadiseth to join Indian Hotels board
MR. K.B. Dadiseth, former chairman of Hindustan Lever Limited (HLL) and recently appointed the head of Unilever's Home & Personal Care division, is to join the board of the Rs. 618-crore Indian Hotels Company Ltd (IHCL).

`Tata Power will gain from merger'
THE Tatas may use the creeping acquisition route to increase its stake in Tata Power Company Ltd (post merger) to over 26 per cent, according to Mr. Ratan Tata, Chairman of Tata Electric Companies (TEC).

Cos Bill changes put on the hold
THE Cabinet has decided to defer its decision on the changes to the Companies (Second Amendment) Bill, 1999, following disagreements over the proposed provision for representation of small shareholders on the boards of companies.

TEC eyeing PowerGen projects
THE Tata Electric Companies (TEC) is believed to be eyeing some of the PowerGen projects in the country.

Lock-in norms to be eased for telecom cos
THE Union Cabinet has decided to relax the lock-in conditions in telecom firms, while also lifting the stipulation of minimum 10 per cent mandatory holding by promoters in telecom companies, enabling easy exit of minority shareholders from such ventures.

Move to rename Gramaphone as Saregama
THE Gramaphone Company of India Ltd, controlled by the RPG Group, is proposed to be rechristened as Saregama India Ltd, according to a notice sent today by GCIL to stock exchanges.

Open sale price of wheat slashed
BURGEONING foodgrain stocks and abysmally low offtake levels have prompted the Government to further slash the price of wheat sold under the Food Corporation of India's (FCI) open market sale scheme (OMSS). The FCI will now sell wheat under the scheme at a price of Rs. 650 per quintal during the current month as well as in September.

New jobs for old at Hughes Software
IN the past 18 months, over 100 employees of Hughes Software Systems (HSS) have told their bosses that they didn't like what they were doing and wanted to shift jobs. They did just that; but all of them are still with HSS.

Sustained revival
The formation of a fresh, well-marked low pressure area over the Bay of Bengal since Tuesday seems to be resulting in a sustained revival in the south-west monsoon, following a fortnight-long weak phase.

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