The Hindu Business Line : Friday, August 30, 2002

HPCL has no plans to exit MRPL `at the moment'
HINDUSTAN Petroleum Corporation Ltd has ruled out any possibility of it exiting Mangalore Refinery and Petrochemicals Ltd in the immediate future. Mr M.B. Lal, Chairman and Managing Director, HPCL told reporters that the company had no reason ... More

Leyland gets export orders for Rs 34 cr
ASHOK Leyland Ltd has obtained two orders for export of vehicles, from Sri Lanka and Bangladesh. The orders are worth Rs 34 crore. The Sri Lankan contract is from the People Leasing Company, for 250 fully built, 42-seater Viking buses. "This ... More

Emcure, NCL develop new drug
A DRUG for hypertension, Asomex (S-Amlodipine), has been developed by Emcure Pharmaceuticals Ltd. in collaboration with the National Chemical Laboratory (NCL). Dr Sivaram, Director, NCL, told presspersons that the benefits offered by ... More

SRF board meet

OPEN OFFERS

IPCL open offer: Reliance to accept 57 pc subscription
RELIANCE Industries has said it will complete payments for accepted shares and return unaccepted shares to IPCL shareholders who had responded to the company's open offer, by September 2. Around 95,000 shareholders participated in the open ... More

RESTRUCTURING

Philips to divest printed circuit board assembly business
PHILIPS India Ltd is to divest the printed circuit board assembly business to the US-based Jabil Circuit Inc for a total consideration of Rs 23 crore. In a notification to the stock exchanges, the company said that the divestment would be ... More

CORPORATE GOVERNANCE

SEBI proposes `corporate governance rating' soon — In touch with Crisil, ICRA
THE Securities and Exchange Board of India (SEBI) has sought the services of two of the leading credit rating agencies in the country - Credit Rating Information Services of India Ltd (Crisil) and Investment Information and Credit Rating Agency ... More

NEW PROJECTS

Parakh Foods mulls new refineries
PARAKH Foods Ltd, the flagship company of the Parakh group, manufacturers of the Gemini brand of refined oil said here on Thursday the company now has the country's largest edible oil refinery situated in a single location, with the commissioning ... More

Kaveri Telecom facility launched
BANGALORE: Kaveri Telecom Ltd, a Bangalore-based manufacturer of antennas, repeaters, RF products and solar photo voltaic systems, has launched its new manufacturing facility. This was inaugurated by Mr Dharam Singh, Minister for Public ... More

REGULATORY BODIES & RULINGS

DCA sets up panel to review `Maocaro'
Maocaro is a special order issued by the CLB, requiring the auditor's report in certain classes of companies to include a statement on matters pertaining to the functioning of the company. More

DCA favours stringent penalties
THE Department of Company Affairs (DCA) has once again made a case for strengthening the existing penalty and compounding provisions under the Companies Act, 1956 to curb widespread violations of the various provisions of the Act. "The problem ... More

ICAI questioned on `non-audit work' ambit
THE Department of Company Affairs (DCA) today questioned the move of the Institute of Chartered Accountants of India (ICAI) to keep certain services such as "tax work" outside the ambit of its recent regulation barring auditors from accepting ... More

SICK UNITS

Mahindra Ugine eyes revival
A RETURN to profitability is inevitable for alloy steel company Mahindra Ugine Steel Company Ltd (Musco), a Mahindra & Mahindra group company, if it wants to revive plans to invite a strategic partner aboard. "We would like a strategic ... More

Fresh proposal sought for Trayons' revival
THE Government has called for a fresh proposal from the prospective promoters on the concessions demanded by them for reviving the sick Travancore Rayons Ltd at nearby Perumbavoor. Speaking to Business Line, Mr P.K. Kunhalikutty, the ... More

OUTLOOK

Vebtel forays into IP telephony; to invest Rs 5 cr
VEBTEL Obconic Internet Protocol, a Hyderabad-based firm, has announced its foray into the emerging Internet telephony market and has launched a range of solutions and products to support voice over Internet phone (VoIP) technologies even for ... More

LML targets bigger export pie
EXPORTS will be a major thrust area for two-wheeler company LML Ltd, which has targeted to earn 10 per cent from overseas sales by 2005. The company has been exporting its two-wheelers, including its latest launch Freedom. LML Ltd is ... More

PERFORMANCE

Price cut boost to Maruti 800 sales; limited model coming
According to company officials, following the price decline, some variants of the Maruti 800 even have a waiting list. More

PEOPLE

Keki Mistry joins Sun board

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