The Hindu Business Line : Tuesday, September 06, 2005

GR Cables gets first order for power cables
GR Cables Ltd has announced that the company has received its first order for Rs 30 lakh for its special range of power cables from Northern Power Distribution Company Ltd. ... More

DGH to report gas find to SEBI
ONGC may have to do some explaining on its recent announcement on gas finds in the Krishna-Godavari Basin, with the Director General of Hydrocarbons, Mr V.K. Sibal, proposing to take it up with the Petroleum Ministry and the the Securities and ... More

UB to sport a trimmer brand portfolio soon
THE UB Group, currently at a focal point in its restructuring programme, will subsequently emerge with a trimmer brand portfolio. After having acquired a controlling stake in Shaw Wallace & Co for Rs 1,300 crore in March this year, the UB ... More

Nagarjuna Const bags order
HYDERABAD: Nagarjuna Construction Company Ltd has announced that it has secured a new order worth Rs 177 crore from Hyderabad Metropolitan Water Supply & Sewerage Board for the execution of Krishna drinking water supply project (Phase-II) ... More

ACCOUNTING STANDARDS

ICAI plans rider on accounting of adjustment of losses against reserves
THE Institute of Chartered Accountants of India (ICAI) plans to stipulate that expenses charged to securities premium account or losses adjusted against general reserves of a company should be net of tax benefits from such transactions. This ... More

CORPORATE DISPUTES

Govt nominees on ONGC board — ONGC chief, Petroleum Ministry lock horns
AVID followers of corporate wars are seeing another interesting battle with a major spat breaking out in the public sector as well. The Chairman and Managing Director of the state-owned company, Oil and Natural Gas Corporation (ONGC), Mr Subir ... More

Rift most unfortunate, says CPI(M) MP
THE rift between the ONGC Chairman, Mr Subir Raha, and the Union Petroleum and Natural Gas Minister, Mr Mani Shankar Aiyar, has been described by Mr Dipankar Mukherjee, CPI (M) Rajya Sabha MP, and a member of the Parliamentary Standing ... More

Raha skips Dhaka visit on `health grounds'
Brushing aside the rumours that, he has refused to adhere to a directive of the Petroleum Minister, Mr Mani Shankar Aiyar, to be present in Dhaka on Monday, the ONGC Chairman, Mr Subir Raha, told Business Line, that "It was on health ... More

OVERSEAS BORROWINGS

Usha Martin board okays GDR issue of $25 m
THE board of directors of Usha Martin Ltd today approved the issue of GDRs/FCCBs of up to $25 million (Rs 110 crore) along with green shoe option of 20 per cent, and a preferential issue of convertible warrants to promoters. The proposed ... More

TAXATION

Allow self-certification for large taxpayer unit scheme too: India Inc
CORPORATE India has suggested to the Finance Ministry that the concept of self-certification be extended to them under the Large Taxpayer Units (LTU) scheme, which is expected to eventually evolve into a single-window facility of all major tax ... More

CREDIT RATING

SME rating agency launched — 'Centre will ensure higher credit flow to SSI units'
THE Union Finance Minister, Mr P. Chidambaram, today launched SME Rating Agency of India (SMERA), a dedicated rating agency for small and medium enterprises, and expressed the hope that it would enhance credit flow to small and tiny sectors. Mr ... More

MERGERS & ACQUISITIONS

Deccan Chronicle Holdings buys retail chain Odyssey
DECCAN Chronicle Holdings Ltd (DCHL), the publishers of Deccan Chronicle, on Monday approved the acquisition of South-based retail chain, Odyssey India Ltd (Odyssey) for Rs 61.2 crore, in a cash deal. The company's board intimated the ... More

NEW PROJECTS

Le Meridien Cochin Towers
KOCHI: Adding to its present inventory of 151 rooms, Le Meridien Kochi has inaugurated the Le Meridien Cochin Towers located across the backwaters from the main block. The Le Meridien Cochin Towers houses 10 floors of luxurious ... More

ALLIANCES & JOINT VENTURES

GAIL signs pact for coal gasification project in China
GAIL (India) Ltd has signed a memorandum of understanding with Shaanxi Huashan Chemical Industry group of China to undertake coal gasification activities in the Shaanxi province. It plans to invest in conversion of coal to methanol and ... More

SOCIETY & DEVELOPMENT

A record-breaking planting of saplings
EYEING a place in the Guinness Book of World Records, ITC's Foods Division has led a campaign locally to plant over three lakh saplings in just 20 minutes, breaking a Canadian record. As many as 15,907 farmers and 300 volunteers planted ... More

OUTLOOK

Lenzing eyes woven segment
THE Austria-based global man-made fibre major Lenzing is keen on promoting its branded specialty cellulosic fibre in India. The company markets `Modal,' `Viscose' and `Tencel' specialty fibres and it is planning to make deeper strides in ... More

Titan Ind to give thrust to precision engg biz
TITAN Industries is giving a thrust to its precision engineering business and expects to invest in scaling the Rs 20-crore business to Rs 400 crore in the next 4-5 years, on the back of strong customer demand for contract manufacturing of ... More

BPCL plans to borrow Rs 1,000 cr this year
The company has suffered a Rs 431-crore loss during April-June 2005 followed by a Rs 400-crore cash loss in July. More

PEOPLE

Talaulicar is new Cummins' V-P
MR ANANT Talaulicar, Chairman and Managing Director, Cummins India Ltd, has been named Vice-President - Cummins Inc, effective September 2005. Mr Anant Talaulicar, 44, who also serves as Managing Director of Cummins India Area Business Office ... More

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