The Hindu Business Line : Saturday, January 05, 2002

Sartorius India keen on setting up biotech parks
SARTORIUS India Pvt Ltd, part of the Sartorius group of Germany, is looking at infrastructure projects for biotechnology, according to Mr Cherian Philip, Chairman and Managing Director, Sartorius India. In an informal talk with reporters here ... More

MMTC board clears capital reduction scheme
THE Board of MMTC Ltd today met and approved the capital reduction scheme to ensure transfer of Rs 15 crore to the Government. When contacted, the Chairman-cum-Managing Director, Mr S.D. Kapoor told Business Line here that the issue of ... More

CESC to pay Rs 3 cr to DVC
THE RPG-controlled CESC Ltd has said that it will be paying Rs 3 crore to Damodar Valley Corporation (DVC) by the middle of this month, following it up with a payment of Rs 2 crore every month from February. This follows an ultimatum issued by ... More

RIL signs deal for $110-m term loan
RELIANCE Industries Ltd (RIL) has signed a $110-million cross-border syndicated term loan facility with ANZ Investment Bank, BA Asia Ltd and Credit Lyonnais as lead arrangers in a bought-out refinancing deal. This was part of the Reliance ... More

Marshalls pitches for Jurala project
THE Chennai-based Marshalls group has pitched for the 234 MW Jurala hydel project in Andhra Pradesh. This project is a run-of-the-river project. Such projects do not need the construction of a dam or a reservoir as the turbines will be run by ... More

BUYBACK

Heritage Foods to go in for Rs 3-crore buyback
WITH an intention of providing an exit route to small shareholders, Heritage Foods (India) Ltd (HFIL) proposes to buy back its shares from the open market at a price not exceeding Rs 30 per share. The overall buyback size is Rs 3 crore. The ... More

PRIVATE PLACEMENT

Aurobindo EGM on Jan 15 for pvt placement
AUROBINDO Pharma Ltd (APL), the Hyderabad-based Rs 1,000-crore pharma major, has convened an extraordinary general meeting (EGM) of its shareholders to secure their approval to raise Rs 125 crore through the private placement route to meet ... More

HUMAN RESOURCES

ICSI charts plan to tap the best student talent
THE Institute of Company Secretaries of India (ICSI) has worked out a five-year plan, which will form the basis of its activities in what Dr P.V.S. Jaganmohan Rao, President, describes as "the new regime of liberalisation, globalisation and ... More

NEW PRODUCTS & SERVICES

Sun Pharma to launch chiral version of omeprazole soon
SUN Pharmaceutical Industries Ltd is to launch a chiral version of the anti-ulcerant drug omeprazole — `es-omeprazole'— within this month. The chiral version of a molecule is a derivative with lesser side-effects and, hence, ... More

Training academy from Maya Entertainment

MERGERS & ACQUISITIONS

Ranbaxy to take majority stake in Fine Drugs -- Plans open offer for 20 pc
ACCELERATING on its buying spree, Ranbaxy Laboratories Ltd (RLL), the Rs 1,800-crore pharmaceutical major, has decided to acquire a controlling stake in Fine Drugs and Chemicals Ltd (FDCL), a Hyderabad-based bulk actives manufacturer. As a part ... More

Chambal Fertilisers may venture into agri-outputs
CHAMBAL Fertilisers and Chemicals Ltd (CFCL), the Rs 1,800-crore agri-inputs company belonging to the K.K. Birla-controlled Zuari-Chambal group, has decided to amend its memorandum of association to enable its foray into agri-outputs business. ... More

Nirma's bid for IPCL: A saga or soap?
IT has been a long wait for Nirma, the domestic soaps and detergents major. The last time around that Nirma made a takeover bid for a company outside its immediate purview was in June 1993. The target that time was the ailing Tata Oil Mill Co ... More

NEW PROJECTS

Bharti to join the cellular brandwagon in Mumbai
WHILE the fourth cellular operators have started the spadework for launching services in their respective circles, one question that plagues the Mumbai user is how many brands will the metropolis eventually have? Bharti Cellular, the fourth ... More

ECIL sets up satellite station in Mauritius
ELECTRONICS Corporation of India Ltd (ECIL), a Central public sector undertaking under the Department of Atomic Energy, has announced that it has successfully completed the commissioning of a satellite communication earth station antenna in ... More

REGULATORY BODIES & RULINGS

`'Need to modify arbitration Act'
THE Arbitration and Conciliation Act, 1996, needs to be modified in order to make it more effective and relevant in the current context, feels the Indian Council of Arbitration (ICA). This view emerged in workshop here on Friday. ICA has ... More

SAT sets aside SEBI order on Escorts MF
THE Securities Appellate Tribunal (SAT) on Friday said that in routine matters, disclosure to the public is more important than reporting to the regulator. Setting aside a SEBI order penalising Escorts Mutual Fund for non-compliance, Mr C. ... More

Global meet on insolvency regulators
THE International Association of Insolvency Regulators (IAIR) will hold its next meeting here in March. The Department of Company Affairs (DCA) is a member of IAIR, according to an official release. In the last meeting of IAIR held in July 2001 ... More

ALLIANCES & JOINT VENTURES

Volvo IT, MindTree join hands
COMMERCIAL vehicle major Volvo, through its subsidiary Volvo IT, has announced a strategic agreement with Bangalore-based MindTree Consulting for outsourcing software development and services for its global operations. Announcing this, Mr Ulf ... More

EVENTS

C.K. Prahalad to deliver ACME lecture

RIGHTS OFFERS

Crest Comm to go for rights issue
CREST Communications Pvt Ltd has decided to go in for a rights issue not exceeding Rs 20 crore and has set up a committee of directors to go into the terms of the issue. Enam Financial Consultants Pvt Ltd have been appointed as lead managers to ... More

OUTLOOK

Allsec upbeat on new call centre projects
``The general perception among the US clients on Indian firms has changed a lot in the last few months.'' More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in

Bharti to join the cellular brandwagon in Mumbai

Bank strike hits operations

RBI nod for bank credit to units in export zones

Move to boost TUFS funding in textile sector

$10-m norm for FDI in realty

Quantitative cap goes on cotton yarn export

Defence production thrown open to private sector, FDI

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Dec. 23-Dec. 29
BSNL slashes STD tariff

Production of super flat picture tubes -- Samtel's new venture unit to go on stream soon

Pratt & Whitney to take 18.4 pc in InfoTech

US courts to finalise fate of Enron's Indian assets