CORPORATE DISPUTES
Reliance spat: KPC gas supply bids face uncertainty
THE intensifying sibling spat in the Reliance group has sent alarm bells ringing for the State-owned Karnataka Power Corporation (KPC), which is promoting the 1,400-MW gas-based power station. KPC's worries emanate from the fact that RIL is one ... More

COMPANY LAW
New company law Bill likely to be tabled in monsoon session: ICSI
HAVING submitted its detailed feedback on the proposed revamping of the Company Law, the Institute of Company Secretaries of India (ICSI) expects the new Company Law Bill to be introduced in Parliament during 2005 monsoon session, according to ... More

Irani panel on company law to meet next month
The committee has been asked to make recommendations to the Government on issues arising from the revision of the existing Companies Act. More

HUMAN RESOURCES
Reuters to strengthen Bangalore operations
GLOBAL information company Reuters plans to strengthen its operations in Bangalore through recruitment of more journalists and carrying out more editorial activities over the next six months. "We are locating a number of important editorial ... More

MERGERS & ACQUISITIONS
Trinethra acquires grocery retail chain Fabmall
THE Hyderabad-based Trinethra Super Retail Ltd has acquired Fabmall India Pvt Ltd, a grocery retail chain of Bangalore. However, the India Value Fund (IVF), managed by GW Capital Pvt Ltd (GWC), has secured the controlling stake by investing Rs ... More

L&T acquires 50 pc stake in Valdel Engg
LARSEN & Toubro has signed an agreement to acquire a 50 per cent stake in the upstream oil and gas exploration and production business of the Bangalore-based Valdel Engineers and Constructors Pvt Ltd. The deal has been inked for an undisclosed . More

NDDB winds up Mother Dairy Foods
THE National Dairy Development Board (NDDB) has wound up Mother Dairy Foods Ltd, the granddaughter company created by it to forge marketing joint ventures with individual State co-operative dairy federations. Mother Dairy Foods has been merged ... More

IOC-IBP merger swap ratio at 125:100
INDIAN Oil Corporation (IOC) today approved a share swap ratio for merging its subsidiary IBP Company Ltd with itself. "Our board of directors has approved a swap ratio of 125:100, that is 125 equity shares of IOC would be offered for every ... More

NEW PROJECTS
CLC Global units plan capacity expansion
THE textile market in the country is witnessing one of its most buoyant periods, with even medium and small companies expanding capacity and diversifying operations. One such company CLC Global Ltd is expanding spinning capacity at its ... More

Appollo Alchobev to invest Rs 100 cr for expansion
Spirits major, Appollo Alchobev, on Wednesday said that it plans to invest over Rs 100 crore to expand its operations in the country. The Chief Executive Officer, Mr Sat Pal Chaudhry, told presspersons that the company expects to post a ... More

Caparo plans plant in Rajasthan
NEW DELHI: Lord Swaraj Paul's Caparo group plans to set up a Rs 200-crore automobile parts manufacturing plant at Bhiwadi industrial area in Alwar district of Rajasthan. According to an official release, the Executive Director of the ... More

REGULATORY BODIES & RULINGS
House panel pulls up Ministry for not following recommendations on CLB
THE Standing Committee on Finance has pulled up the Ministry of Company Affairs for not taking the recommendations of the committee seriously with regard to the functioning of the Company Law Board (CLB) and the continued downward trends in ... More

ALLIANCES & JOINT VENTURES
Strides in supply pact with Australian co
STRIDES Arcolab Ltd today announced that it had entered into an agreement to develop and manufacture six specialised injectible products for the Australia-based Mayne Pharma, part of the Mayne group. The Australian company would market and ... More

Rain Calcining renews pact with Oxbow Carbon
RAIN Calcining Ltd (RCL) has renewed its association with the US-based Oxbow Carbon & Minerals LLC with revised agreements to market calcined petroleum coke (CPC) and supply raw material - green petroleum coke (GPC). The company informed the . More

Avesthagen, Cipla expand tie-up to develop cancer drugs
AVESTHA Gengraine Technologies and pharma major Cipla have said they have expanded the scope of their collaboration to develop new generation biotech drugs for cancer and cardiovascular problems. This follows the joint programme they started ... More

SOCIETY & DEVELOPMENT
New health insurance scheme for rural dwellers in Karnataka
BIOCON Foundation and Narayana Hrudayalaya have tied up with ICICI Lombard General Insurance Company to launch a new rural healthcare scheme called Arogya Raksha Yojana (ARY). Affordable medical care for rural dwellers was the goal of the ... More

RIGHTS ISSUE
Sirpur Paper rights issue gets nod
HYDERABAD: Sirpur Paper Mills Ltd has informed bourses that the company's board has approved the draft letter of offer for the rights issue of shares at its meeting on Tuesday. The company has decided to issue 66.72-lakh shares of Rs 10 ... More

SICK UNITS
Centre to take steps for Dunlop revival
THE Union Government on Wednesday assured the Lok Sabha that it would take initiatives to revitalise the ailing Dunlop India Ltd (DIL) in West Bengal. Replying to a calling-attention motion of the CPI (M) member, Mr Roopchand Pal, and two ... More

OUTLOOK
Ranbaxy eager to tap Pakistan market
THE successful surgery of Baby Noor by Indian doctors may have been the first step of co-operation between India and Pakistan in the health sector. More than a year later, the promoters of the Ranbaxy group are excited about expanding their ... More

Wagh Bakri plans food sector foray
THE Wagh Bakri Group, among the largest regional players in the tea industry with significant market shares in Gujarat, Madhya Pradesh and Rajasthan, is contemplating entering into business involving other food items. Mr Piyush O. Desai, ... More

INVESTOR PROTECTION
Payments to depositors — Madras HC orders auctioning of jeweller's assets
THE Madras High Court has directed the competent authority to sell by public auction the assets of the Chennai-based Bharathi Gems and Jewels to pay the dues to the 9,100 depositors who have been waiting for a decade to get back their monies. The ... More