The Hindu Business Line : Saturday, July 26, 2003

Antares Systems sues CommerceOne arm — AP Govt arraigned in IPR case
CLOSE on the heels of filing the first lawsuit under Indian cyber law, Antares Systems Ltd, the Bangalore-based IT firm, has filed a case against an e-governance project in the Delhi High Court for alleged infringement of intellectual property ... More

COMPANY LAW

`Unlimited' liability — Chamber seeks review of clause in Companies Bill
As per the bill, "if a company fails to enhance its capital to the prescribed minimum of Rs 5 lakh in the case of public companies and Rs 1 lakh in the case of private companies or is not carrying on business or is not in operation, the liability of every director or manager or shareholder of such company shall become unlimited." More

ACCOUNTANCY

UK institute has good news for Indian CAs
INDIAN chartered accountants aspiring to become members of the Institute of Chartered Accountants in England and Wales (ICAEW) have a cause to cheer. The ICAEW has agreed to credit five exemptions towards the Professional Accountancy Stage of the ... More

MANPOWER

RIL offers VRS for Naroda plant employees
RELIANCE Industries Ltd (RIL) on Friday said that it has offered a voluntary retirement scheme to employees at its Naroda plant. The company said in a notice to stock exchanges that it is processing applications received from employees. ... More

RESTRUCTURING

Radisson readies revamp plan
THE Radisson Hotel is sprucing up its act to meet competition head-on, with a surge of activity expected in the hospitality sector in Delhi in the coming years. On the anvil for the Delhi Radisson is a Rs 15-crore two-phase renovation plan ... More

NEW PROJECTS

Vimta Labs opens third lab
VIMTA Labs Ltd, in the business of contract research and testing, opened its third lab in the State here on Friday. Dr S.P Vasireddi, Chairman and Managing Director, said at a press meet on the occasion that during the past one month Vimta, a ... More

Bharat Hotels keen on Kerala project proposal
THE Lalit Suri-managed Bharat Hotels Ltd has evinced interest in setting up a hospitality project at Bekal in Kasargod district of Kerala. This comes even as the Kerala State Cabinet earlier this week approved Leela Group's proposed joint venture ... More

SICK UNITS

Indal to close Alupuram smelter unit
Prior to August 2001, the company was paying Rs 4.5 crore towards power charges per month, which rose to Rs 6.75 crore following the two hikes. More

OUTLOOK

Tata Steel sees improved debt-equity ratio
TATA Steel expects a further improvement in its debt-equity ratio in the current financial year. Second, certain provisions in the Central Budget for 2003-04, the company management believes, "augur well for demand for steel in the next 4-5 ... More

GE Shipping to spend Rs 1,500 cr on new fleet
AFTER deciding to pull out of the race for a controlling stake in Shipping Corporation of India recently, Great Eastern Shipping Co Ltd continues to be on a fleet expansion mode, with plans to make a capital expenditure of about Rs 1,500 crore ... More

Jindal Vijaynagar, Jisco upbeat on prospects
JINDAL Vijaynagar Steel Ltd (JVSL) and Jindal Iron & Steel Company Ltd (Jisco), at their analysts' meet today, have painted a positive outlook for FY04. In Q1 FY04, JVSL returned net profit of Rs 22.92 crore (Rs 78.40 crore loss for year ago ... More

ITC to participate in reducing exposure to tobacco products — But won't let down farmers
THE ITC Chairman, Mr Y.C. Deveshwar, on Friday called for an orderly change in exposure to tobacco products, so that tobacco farmers' interests are not jeopardised in any manner. Responding to shareholders' queries on the anti-tobacco law now ... More

Kennametal Widia hopes to be back in black this fiscal
MACHINE tools-maker, Kennametal Widia India Ltd, expects to be back in black in the current financial year and has forecast a 10-15 per cent topline growth with its net earnings matching the pace. In the company's 18-month accounting year ... More

Formulation unit to play key role in Orchid Chem growth
ORCHID Chemicals is upbeat about growing its formulation division by linking up with top end Indian companies. At the company's 11th annual general meeting (AGM), Mr K. Raghavendra Rao, Managing Director, said, "we expect Rs 20 crore or so from ... More

ITC: `Rewards from new business to accrue in long term'
ITC's leadership position and market strength in paperboards was fuelling the company's social forestry programme. More

PERFORMANCE

ITC: Other income ensures profit growth
SLOWDOWN in sales growth and increasing losses in the consumer goods business pulled down ITC's operating profit growth in the quarter ended June 2003. However, surging other income has ensured that the net profit growth continues to be about 15 ... More

TRENDS

Waking up to `diversity' concept in HR
INFOTECH companies braved it first, the pharma sector is feeling the heat of it and soon, the others should be waking up to the D-word too. Amid growing concerns like globalised businesses, crowded markets and attrition, corporate India is slowly ... More

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