CORPORATE
RESEARCH & DEVELOPMENT
Biocon arm to set up research facility for Bristol Myers
To be Bristol Myers' first research centre in the country
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ACCOUNTING STANDARDS
Creative accounting can thrive on gaps in M&A standards
In India, at present, there is no accounting standard corresponding to IFRS-3 dealing with acquisition of an entity as a subsidiary on day zero, leaving some significant issues un-addressed. MR PAUL ALVERAS, A SENIOR PROFESSIONAL IN A MEMBER FIRM OF ERNST & YOUNG GLOBAL.
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CORPORATE DISPUTES
`Stake increase will force Shishir Bajaj into negotiations'
Will avoid the delay of going to CLB and court settlements
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DIVIDEND ANNOUNCEMENT
LMW to pay 2nd interim
Lakshmi Machine Works has informed the stock exchange - BSE and NSE - of the board's decision to pay a second interim dividend of Rs 25 per share of Rs 10 each. The record date for determining the eligibility of the ...
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NEW BUSINESS
Siemens-BHEL bags PowerGrid order
Siemens Power Transmission and Distribution (PTD) and its consortium partner BHEL have been awarded an order by the Power Grid Corporation of India to construct 2,500 MW High Voltage Direct Current (HVDC) terminal stations for a 780-km long HVDC ...
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Nagarjuna Const bags Rs 348-cr orders
Nagarjuna Construction Company Ltd (NCCL) has secured various orders totalling Rs 348 crore. The major orders include a Rs 86-crore irrigation project in Kurnool district from the Andhra Pradesh Government and Rs 74-crore order ...
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COURTS/LEGAL ISSUES
HPL share transfer case
Mr C.A. Sundaram, another counsel for West Bengal Industrial Development Corporation (WBIDC), today alleged before Mr Justice Jayanta Biswas of the Calcutta High Court that the Chatterjee Group tried to throw off West Bengal ...
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HC ruling on civil courts jurisdiction
The Madras High Court has held that Section 10 of the Companies Act did not bar jurisdiction of civil courts to try cases pertaining to allegations of misrepresentation as to resignation of directors, fraud in transferring shares, willful default ...
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RESTRUCTURING
VSNL to hive off broadband, retail business
Videsh Sanchar Nigam Ltd is set to hive off its broadband and retail Internet business unit into a separate subsidiary, DIL Internet Ltd. The board of the company on Wednesday approved the hive-off, which would be for a consideration of up to ...
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MERGERS & ACQUISITIONS
BPCL picks up interest in North Sea basin
Bharat Petroleum Corporation Ltd and Tata Petrodyne have picked up 25 per cent each participating interest in two exploration blocks in the North Sea gas basin in UK. In a notice to the stock exchange, BPCL said it has signed an agreement with ...
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NEW PROJECTS
BHEL sets up calibration centre
The centre was formally inaugurated by Mr Ashok K. Puri, Chairman and Managing Director, BHEL. Established at about Rs 3.2 crore as part of an MoU with the Government, the centre will help in enhancing the precision and accuracy of performance ...
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JSW Steel open to relocating plant site if people resist
JSW Steel Ltd, which is putting up a 10-million tonnes per annum capacity steel plant at Salboni near Kharagpur at an estimated investment of Rs 35,000 crore, is open to the idea of relocating the plant site if it is required. This was stated ...
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Basant Betons launches Rs 40-cr project
The boom in the construction industry has led to a spurt in demand for specialty construction products of high aesthetic value. Trying to cash in on this trend is Basant Betons, manufacturer of concrete products for landscaped areas, which ...
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REGULATORY BODIES & RULINGS
GSK to seek Drug Controller nod for breast cancer drug
To be sold under Tykerb brandname
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Strides gets nod for 2 NDAs
Strides Arcolab has said it has received tentative USFDA approvals for two more anti-HIV NDAs (new drug applications). This takes the total NDAs/ANDAs (abbreviated NDA) approvals received to eight. The latest approvals are for ...
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ALLIANCES & JOINT VENTURES
Elder Pharma joins hands with Spanish co
To market anti-thrombotics in India
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GVK Bio forms joint venture with INC Research
GVK Biosciences (GVK BIO) has entered into a 50:50 joint venture with INC Research (INC) to form INC GVK BIO Pvt Ltd. The venture will establish a dedicated resource capability to offer Phase I-IV clinical development programmes in India for ...
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SOCIETY & DEVELOPMENT
CCL plans to celebrate 2006-07 as welfare year
The Ranchi-based Central Coalfields Ltd (CCL), which is confident of maintaining overall development in the current fiscal, plans to celebrate 2006-07 as `Welfare, community, development and environmental conservation year.' The programme has ...
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DIVERSIFICATION
Mantri Realty plans entry into hospitality
Mumbai-based Mantri Realty has firmed up plans to diversify into hospitality sector, with an investment of up to Rs 1,000 crore by 2011. It would translate into building three, four, and five-star hotels, with total room strength of ...
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OUTLOOK
ICRA sees new biz from Basel-II accord
ICRA Ltd foresees business opportunities from the implementation of the Basel-II accord by banks. "It is only at a proposal stage," Mr Naresh Takkar, Managing Director of ICRA, maintained, when asked to comment on what initial steps ICRA was ...
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`India to play key role in Timken's Asia biz growth'
Targets 80% growth in exports
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SABMiller set for turnaround
May post Rs 5-cr profit before tax this fiscal
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Sangam Dairy to strengthen byproducts biz
Sangam Dairy is infusing a soft loan of Rs 7 crore from the National Dairy Development Board (NDDB) towards meeting its working capital demands. The dairy, based in Vadlamudi in Guntur district of Andhra Pradesh, with 470 lakh litre milk ...
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