The Hindu Business Line : Thursday, April 12, 2007

ACCOUNTING STANDARDS
A milder regulation for SMEs
The IASB has issued the draft of a proposed accounting standard for SMEs. Its aim is to provide a simplified, self-contained set of accounting principles that are appropriate for smaller, non-listed companies. More

CONSULTING
APSFC signs MoU with Virtus Global
The Andhra Pradesh State Finance Corporation (APSFC) has signed a memorandum of understanding (MoU) with the New York-based Virtus Global Partners. The global investment and advisory firm offers various services in the areas of mergers, ... More

IPR
`Unwise to challenge Patent Act'
The Government on Tuesday advised Swiss pharma company, Novartis to rethink its legal challenge of the Indian Patent Act. "When a company comes into the country, they should consider the Indian climate and condition. It is unwise ... More

MERGERS & ACQUISITIONS
Decks cleared for BHPV takeover
Concessions include transfer of title of land measuring 393.86 acres as gift title deed to BHPV, waiver of sales tax arrears of Rs 42.16 crore and waiver of dues towards water tax. More

NEW PROJECTS
ONGC board okays proposals worth Rs 3,819 cr
Nod for gas feed for Tripura power plant More

Whirlpool Indian arm gets $20-m investment
To augment manufacturing capacities, cut losses More

Rieter investing $50 m in India in next 5 years
Pune facility expansion under way More

Hiranandani plans Rs 2,000-cr township in Chennai
Will have one million sq ft of high-end office space More

Vijay Textiles okays land propsal
The board of directors of Vijay Textiles Ltd has approved a proposal to acquire 17 acres at Rajapoor in Mahaboobnagar district for Rs 5.1 crore to set up facilities to manufacture wider width fabrics. The board, which met last ... More

TRADE & LABOUR UNIONS
Steel executives plan dharna against proposed tax on house perquisite
Steel Executives' Federation of India (SEFI) plans to stage a `dharna' in New Delhi in front of Parliament in the first week of May to protest against the proposed levy of tax on "house perquisite" for public sector employees. According to ... More

Pricol lifts partial lock-out
In the wake of State Govt order More

HM suspends work at Uttarpara
Hindustan Motors today declared `suspension of work' at its Uttarpara plant following complete blockade of ingress and egress of materials, according to a company release. "The law and order situation at Uttarpara continues to be ... More

ALLIANCES & JOINT VENTURES
IOC may partner Reliance for city gas distribution
Indian Oil Corporation Ltd (IOC) is in talks with Reliance Industries Ltd to source natural gas for distribution in cities. The gas would be sourced from the upcoming KG basin fields of Reliance. IOC could even consider entering into a joint ... More

PARI teams up with French co for auto assembly solutions
Precision Automation and Robotics India (PARI) has formalised a collaboration with Cinetic Assembly, France to develop, manufacture, and provide solutions for automotive assembly, including overhead conveying & electrified monorail systems (EMS) More

GAIL, Indian Oil venture for city gas distribution in Bengal
GAIL (India) Ltd and Indian Oil Corporation Ltd have entered into an understanding for formation of a joint venture for City Gas Distribution (CGD) projects in West Bengal. A memorandum of understanding was inked on Wednesday between the two ... More

DIVERSIFICATION
`NTPC's equipment foray may face regulatory challenges'
Plans power equipment manufacture foray More

OUTLOOK
Blue Dart plans Rs 22-cr expansion in South
Blue Dart Express, the air express, courier and package distribution company, has earmarked nearly half its planned infrastructure expansion for the year in the South. Announcing the inauguration of a 21,750-sq ft warehouse facility in Chennai, ... More

Nestle asking farmers to shift to cow milk
Nestle India is consciously encouraging milk farmers to shift from buffalo to cow milk, even though the country concentrates on buffalo milk, which is costlier. Currently, the company procures both milks in equal quantity and is expanding its ... More

Bharat Forge plans foray into aerospace, shipping products
Chalks out Rs 300-cr investment in greenfield project More