CORPORATE
ANNOUNCEMENTS
Bharti to bid for airport update project with Changi
SUNIL Mittal-owned Bharti Group has formed a consortium with Changi Airport of Singapore to bid for the modernisation programme of Delhi and Mumbai airports. "The consortium, will work towards the successful bidding and picking up of equity in ...
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PREFERENTIAL ALLOTMENTS
Reliance Energy EGM okays pref allotment
SHAREHOLDERS of Reliance Energy Ltd on Monday approved the preferential allotment of shares worth Rs 2,500 crore to the Reliance Group and domestic and foreign institutional investors. At an extraordinary general meeting of REL stakeholders ...
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Merven Drug allots share warrants to fund cos
MERVEN Drug Products Ltd (MDPL), a Hyderabad-based pharmaceutical company into which Arch Commerz got reverse merged, has informed the stock exchanges that its board of directors has approved the allotment of share warrants to ICICI Venture Fund ...
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AxSys nod for stake allotment to 2 foreign funds
THE board of directors of AxSys HealthTech Ltd (AHL), the city-based healthcare services provider, has approved a proposal to offer eight lakh equity shares to two foreign funds based at Hong Kong. The board has decided to offer 4-lakh equity ...
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CORPORATE DISPUTES
Dr Reddy's files for new drug, faces litigation
DR Reddy's Laboratories Ltd has filed an abbreviated new drug application (ANDA) with the US Food and Drug Administration for Levetiracetam tablets of 250-mg, 500-mg and 750-mg concentrations. It has filed an application under Para IV ...
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OVERSEAS BORROWINGS
Jindal Stainless plans to raise $100 m via ECB
JINDAL Stainless Ltd informed the BSE on Monday that its board has approved a proposal for external commercial borrowings funding of up to $100 million (Rs 450 crore) for uses spanning general corporate purpose, capital expenditure and long-term ...
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COURTS/LEGAL ISSUES
Match units run by family members — Competent authority must decide on Factories Act applicability: HC
THE Madras High Court has held that the question of non-applicability of the provisions of the Factories Act, 1948 to match units that are run by members of a family alone should be decided by the competent authority concerned. After hearing a ...
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RESTRUCTURING
FIIs silent on L&T cement demerger amendments
FOREIGN institutional investors can sometimes think and operate quite differently from their Indian counterparts. The shareholder poll on the amendments moved by minority shareholders to the main resolutions at the court-convened meeting of ...
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CORPORATE GOVERNANCE
Co secretaries seek inclusion in WTO classification
THE company secretaries have pushed for inclusion of corporate secretarial services in Central Product Classification (CPC) of the World Trade Organisation (WTO). "The inclusion of this category for corporate governance, compliance and ...
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REGULATORY BODIES & RULINGS
Industry asked to promote exit scheme for defunct cos
FACED with a rather poor response to its initiative on cleaning up the Registrar of Companies, the Government has proposed to implement a series of new efforts on a war-footing. It has urged industry to help promote the simplified exit scheme ...
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TRADE & LABOUR UNIONS
Employees urge Kerala Govt to review decision on Coke
THE State Government should review the decision to stop the Coca-Cola plant at Plachimada from operating, as the livelihood of thousands of employees of the bottling unit is at stake, according to the `Coca Cola Job Protection Committee'. About ...
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ALLIANCES & JOINT VENTURES
Voltas, Oman co in distribution pact
VOLTAS Ltd has joined hands with the West Asian-based Al Hashar Group for the distribution of Voltas range of cooling appliances in Oman. Most of Voltas products will be retailed at seven Al Hashar showrooms and 25 authorised retail counters ...
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SOCIETY & DEVELOPMENT
Corporates join WEF-CII drive to combat tuberculosis
THE World Economic Forum's (WEF) Global Health Initiative along with the Confederation of Indian Industry (CII) has launched a joint initiative to combat tuberculosis. And corporates such as Aditya Birla Group, Larsen & Toubro, Lupin Ltd, ...
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IPOS
SPS firms up plans for Rs 40-cr public issue
SPS Steels Rolling Mills Ltd, manufacturer of the Elegant brand of TMT (thermo-mechanically treated) bars, has firmed up plans for a public issue of Rs 40 crore. Subject to receipt of necessary approvals, the proposed public issue is slated to ...
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OUTLOOK
STC looking at over 250 pc turnover growth
STC has signed a memorandum of understanding (MoU) with the Ministry of Commerce and Industry for 2004-05 outlining the target of performance for the next fiscal. Dr Arvind Pandalai, Chairman & Managing Director, STC, and Mr Dipak Chatterjee ..
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Alfa Laval looks to Africa
WITH exports contributing nearly 33 per cent of its total turnover, engineering major Alfa Laval is now targeting African markets for further growth. This would be in addition to other countries such as Indonesia, Thailand, Latin America, ...
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M&M hopes to export 6,000 tractors this year
MAHINDRA & Mahindra Ltd expects to sell around 6,000 tractors this year, the company's Executive Director & President (Farm Equipment Sector), Mr K.J. Davasia, said on Monday. Last year, the company exported 5,746 tractors. At a press ...
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PEOPLE
Madhucon chief quits
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