CORPORATE DISPUTES
Zee recreates the Birla will drama
SCIONS of the Birla clan will probably be fighting their legal battle against Mr Rajendra Singh Lodha for decades for the Rs 5,000-crore M.P. Birla Group, but television viewers will know about Mr Yodha's fate in his clash with the Nerula family ... More

Birlas seek HC consent to submit wills
THE Birlas on Thursday sought the permission of the Calcutta High Court to submit photocopies of the wills of Mr and Mrs M.P. Birla signed in 1982. The probate application for this set of will was already made two days back. Addressing a press ... More

OUTSOURCING
Britannia finds outsourcing a cheaper option
BRITANNIA Industries Ltd (BIL) plans to outsource more of its own products as it finds outsourcing a cheaper option than increasing output at its existing plants where the cost of production is high on account of higher wages. The company ... More

CORPORATE GOVERNANCE
Crisil against mandatory corporate governance ratings
RATING agency Crisil has sought to put an end to the debate over making corporate governance ratings mandatory. It has argued strongly against any move to make CG ratings compulsory for companies. CG ratings assigned to corporates should find ... More

NEW PROJECTS
Fairfax County opens office in Bangalore
THE Fairfax County Economic Development Authority (FCEDA) has opened an office in Bangalore to work with Indian companies that may be interested in expanding operations in the US. The Fairfax County in northern ... More

L&T plans to set up switchgear plant in West Asia
LARSEN & Toubro is looking at setting up a switchgear manufacturing plant in West Asia and a tyre-curing press in "some low cost country," its Chairman and Managing Director, Mr A.M. Naik, said at a press conference here today. This would be ... More

ALLIANCES & JOINT VENTURES
GAIL to bring in Rs 150 cr as Haldia's strategic partner
GAIL (India) Ltd is the proposed strategic partner of Haldia Petrochemicals Ltd (HPL) and not Indian Oil Corporation (IOC). GAIL has already been asked to chip in with Rs 150 crore as equity by August 31 this year, for a seven to eight per cent ... More

IPOS
Sah Petroleums IPO at Rs 35
SAH Petroleums Ltd is entering the capital market with an initial public offering of 90,80,000 equity shares of Rs 5 each for cash at a premium of Rs 30. The size of this IPO in value terms is Rs 31.78 crore. The IPO opens on August 30, 2004. ... More

HMT plans to launch MUVs, LCVs — Mulls IPO to fund project
HMT has appointed UTI Bank to suggest financial restructuring in order to get rid of its high-cost debts and clean up the balance sheet. More

DIVERSIFICATION
700-MW gas-based power plant in Tripura planned: ONGC Chief
WITH the company planning to set up a 700 MW gas-based power plant at Sonamura in Tripura, ONGC's drive for vertical integration is taking it towards being an independent power producer (IPP). Infrastructure Finance and Leasing Services Ltd ... More

SICK UNITS
Debate over cess on cos for reviving sick units
THE proposal to impose cess on companies for revival of sick entities may again become a thorny issue between the Ministry of Company Affairs and India Inc. Corporates had strongly opposed the incorporation of the provision when amendments to ... More

IDBI nod for Nagarjuna Fert debt revamp package
THE Corporate Debt Restructuring (CDR) Cell at IDBI has approved a major restructuring of the debt profile of Nagarjuna Fertilisers and Chemicals Ltd (NFCL), involving a substantial reduction of interest and rescheduling of loans. Apart from ... More

OUTLOOK
ONGC hopes to strike gas on East Coast
ONGC, which is exploring for gas in three deep-sea blocks in the KG basin, is expecting to strike a major gas reserve on the East Coast. Addressing a press conference here today, the ONGC Chairman and Managing Director Mr Subir Raha said, "I ... More

ThyssenKrupp Elevator plans new products for India
EYEING India as a significant market for its elevators and escalators, the Germany-based ThyssenKrupp Elevator plans to get a pilot project to test its revolutionary system of two lift cars with one shaft. It has already embarked upon ... More

TRENDS
India Inc gears up to face truckers' strike
INDIA Inc is preparing contingency plans to counter the impending truckers' strike. While most companies have kept adequate inventory of raw materials to last them for a week to 10 days, they are hoping the strike is called off so that no major ... More