The Hindu Business Line : Saturday, February 11, 2006

McDowell equity shareholders, creditors approve amendments
MCDOWELL & Company Ltd has informed the Bombay Stock Exchange that the equity shareholders, secured and unsecured creditors of the company at their separate court convened meetings held on February 6, have approved the amendments and the ... More

Dredging Corp interim 60 pc
HYDERABAD: Dredging Corporation of India Ltd has informed the stock exchanges that its board of directors at a meeting on Friday has declared an interim dividend of 60 per cent on the paid-up equity share capital. The company said that the ... More

Ethypharm's Indian arm to support parent in Columbian supplies
THE Indian subsidiary of French drug-delivery company Ethypharm will supply products to support an out-licensing deal that its parent has signed for the Columbian market. Ethypharm has formalised a supply contract with Columbian drug-company ... More

CORPORATE DISPUTES

Haldia Petro: CLB defers decision on IDBI application
WITH a view to enabling the Chatterjee Petrochem (Mauritius) Company and the West Bengal Government to explore the possibility of amicably resolving the ongoing dispute on Haldia Petrochemicals Ltd (HPL), the Company Law Board (CLB) today ... More

Sharing of signals: TDSAT asks MTV to negotiate with Dish TV
THE Telecom Disputes Settlement Appellate Authority (TDSAT) has asked MTV to enter into negotiations with ASC Enterprises promoted direct-to-home (DTH) platform, Dish TV, for sharing of signals of MTV and Nickelodeon. Dish TV had approached ... More

AUDITING

`Internal audit is a risk management tool'
INTERNAL audit function is much more than checking the numbers. It is evolving into a major tool for risk management, speakers said at the 30th All India Conference on Internal Audit, on the theme `Beyond assurance - Enhancing enterprise ... More

RESTRUCTURING

Sun Pharmaceuticals demerges innovative research unit
SUN Pharmaceutical Industries Ltd has demerged its innovative research and development (R&D) into a separate company. Further cushioning of risk, in terms of taking a strategic investor on board the new company, is however not on the ... More

ONGC ropes in consultant
KOLKATA: ONGC has roped in Gaffney, Cline & Associates (GCA) as an umbrella consultant for revamping its Assam assets by 2008. The Rs 800-crore plan for Assam targets doubling production from the region to 2.14 million tonnes. GCA was a ... More

MERGERS & ACQUISITIONS

Merger plan: IOC, IBP awaiting nod from stock exchanges
Boards moot fresh swap ratio of 110:100
IBP, which has taken the worst hit for selling petroleum products below cost, is optimistic about completing its merger procedure by March 2006. More

Aurobindo pockets Milpharm in UK — 100 per cent shares acquired
APL expects to build on the platform of Milpharm in strengthening the relationships and augmenting the product portfolio for its customers. More

CORPORATE GOVERNANCE

Clause 49 compliance: Crisil, MS develop tool
CRISIL Investment and Risk Management Services has launched a corporate risk evaluation solution for Clause 49 compliance. This solution has been developed in technical collaboration with Microsoft and is called the Corporate Risk Evaluation ... More

NEW PROJECTS

Indo Tech Transformers to raise Rs 51 cr through IPO for expansion plans
THE Chennai-based Indo Tech Transformers Ltd, a transformer manufacturer, whose public issue is open from Friday to raise Rs 51 crore, hopes to expand its capacities to enter new segments in transformer manufacturing and new markets. Mr P.S. ... More

Ural India to start assembling unit for trucks soon — 2nd auto unit in 64 years at Uttarpara
Initially, the trucks would be imported from Russia in completely knocked down versions; 100 per cent indigenisation would be achieved when the plant would operate at full capacity by 2009. More

TRADE & LABOUR UNIONS

Trade unions form body to support Toyota workers
TOYOTA Kirloskar workers' union who are on hunger strike for the past week, got a boost on Friday with all the trade unions forming a body to support the union. All India Trade Union Congress (AITUC) member Mr H.V. Anathasubba Rao told ... More

ALLIANCES & JOINT VENTURES

HFCL arm, Star India tie up for cable broadcast services
CONNECT Broadband Services Ltd (CBSL), a wholly-owned subsidiary of HFCL Infotel Ltd (HITL), has announced a strategic tie-up with Star India Pvt Ltd (SIPL) to carry content over CBSL's network in Chandigarh and Punjab. "The partnership would ... More

Siemens plans local tie-ups to bid for mega thermal projects
SIEMENS intends to tie up with local partners for bidding for the proposed mega thermal generation stations of 4,000 MW in the country. Speaking to newspersons today, the Siemens India Managing Director, Mr Jurgen Schubert, said: "We will pitch ... More

INTERVIEW

No merger plans as of now, says B.K. Birla
THE Chairman of Century Textiles and Industries, Mr B.K. Birla, says the group isnot looking at merging any BK Birla and AV Birla business as of now. He says the group may look at the possibility of a merger four to five years down the ... More

SOCIETY & DEVELOPMENT

Apollo Hospitals plans mobile service in rural areas
APOLLO Hospitals would soon launch a mobile service in rural areas to screen people for cardiac problems and cancer. Equipped with the necessary equipment, the vans would be fanned out from various sites of Apollo Hospitals that have cancer units ... More

BONUS ANNOUNCEMENTS

Sterlite board nod for 1:1 bonus
MUMBAI: Sterlite Industries (India) Ltd has informed the BSE that its board has approved a bonus issue of one share for every share held. The board also approved the reduction of the face value of each share to Rs 2 per share from Rs 5 ... More

OUTLOOK

`Infrastructure is in a mess, no more expansion plans in Bangalore'
Miffed over the deteriorating infrastructure in Karnataka, global engineering giant Siemens AG has decided to freeze all expansion plans in the State. "There will be no more expansion plans in Bangalore. Our business expansion will not happen ... More

Oil exploration in Nigeria — ONGC looking at Korean tie-up
A final decision (on joining forces with KNOC) would depend on the Nigerian Government's stand. More

Easun Reyrolle expects to double turnover
The company has entered two new areas — automation and metering — and one new service, construction of projects on turnkey basis. More

PERFORMANCE

Vizag Steel achieves Rs 6,424-cr turnover
VISAKHAPATNAM: Visakhapatnam Steel Plant has achieved sales turnover of Rs 6,424 crore till date in the current financial year, a growth of 4 per cent over the previous year, according to a press release. This includes exports of Rs 368 ... More

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