The Hindu Business Line : Thursday, March 24, 2005

Setting up of flu gas desulphurisation unit — Environment body asks Reliance Energy to pay Rs 300 cr
RELIANCE Energy Ltd has been asked to furnish a bank guarantee of Rs 300 crore to prove that the company is serious about setting up a flu gas desulphurisation (FGD) unit, essential for controlling pollution, at its 500 MW coal-based power ... More

Gujarat Fluorochemicals gets CDM registration
GUJARAT Fluorochemicals Ltd (GFL), a refrigerant gas manufacturing company, has received the country's first project registration from the Executive Board of Clean Development Mechanism (CDM), established under the Kyoto Protocol. GFL's ... More

ANNOUNCEMENTS

Ranbaxy makes 2 fresh filings for ARVs with WHO
RANBAXY Laboratories Ltd has made two fresh filings of its anti-retrovirals (ARVs) agents, to the World Health Organisation (WHO) for its approval, taking the total number of filings submitted with the WHO to five. Besides, Ranbaxy has also ... More

BHEL to set up Centre of Excellence in surface coatings
BHEL is setting up a Centre for Excellence (CoE) in surface coatings here, with an investment of Rs 8.4 crore. This will be the fourth CoE and has been taken up by BHEL after its assessment that the three set up over the last two years have ... More

HAL delivers two Sukhoi-30 MKI aircraft to IAF
HINDUSTAN Aeronautics Ltd (HAL) has handed over to the Indian Air Force (IAF), the first two Sukhoi-30 MKI aircraft assembled at its facility here. A third aircraft is at an advanced stage of assembling and will be delivered to the IAF ... More

PREFERENTIAL ALLOTMENTS

TVS Motor to invest Rs 40 cr in TVS Finance
TVS Motor Company will invest Rs 40 crore in TVS Finance and Services Ltd, by subscribing to the latter's non-cumulative, non-convertible, redeemable preference shares. TVS Finance will hold an extraordinary general meeting on March 28 to seek ... More

CORPORATE DISPUTES

Anil may get Reliance Infocomm — Ambani settlement on cards after Holi
THE battle between the Ambani brothers for the ownership of the Rs 99,000-crore business empire may soon be over. The long-awaited settlement appears to have been given more or less a concrete shape with Reliance Infocomm slated to go to Mr ... More

HC says no to administrator over Priyamvada's estate
MR Justice K.J. Sengupta of the Calcutta High Court today refused to appoint any administrator over the estate left behind by Priyamvada Devi Birla. The court passed the order on an application filed by Ms Radha Mohta and Ms Laxmibai Newar, the ... More

COURTS/LEGAL ISSUES

Shaw Wallace, Modi file terms of settlement
SHAW Wallace Co Ltd (SWC) and Mr R.R. Modi on Wednesday jointly filed terms of settlement before the Division Bench of Mr Justice Pinaki Chandra Ghosh and Mr Justice P.N. Sinha of the Calcutta High Court. With this, the interim order for status ... More

MERGERS & ACQUISITIONS

Matrix to acquire major holding in MCHEM
TAKING forward its strategic alliance with $35-million MCHEM Pharma (Group) Ltd of China, Matrix Laboratories Ltd (MLL) has signed a revised memorandum of understanding (MoU) with the former to acquire a major holding in its business in ... More

UB Group to buy out Deepak Roy stake in Triumph for Rs 15 cr
THE UB Group today said it will pay roughly Rs 15 crore to buy out the minority stakeholder, Mr Deepak Roy, in Triumph Distillers & Vintners Ltd (TDV). Mr Roy, who is Managing Director and President of the company, holds 15 per cent stake, while More

Hindalco name, logo replace Indal's
WITH the completion of all official formalities relating to the merger of Indal (Indian Aluminium Company Ltd) and Hindalco Industries Ltd, the logo as well as the name Indal have been replaced by Hindalco's logo and name in all offices and ... More

IDFC Private Equity takes 10 pc stake in Chalet Hotels
IDFC Private Equity's India Development Fund has invested Rs 50 crore in Chalet Hotels Ltd for a 10-per cent stake in the company. Chalet Hotels, a part of K Raheja Corp, owns the Lakeside Chalet Marriott Executive Service Apartments and the ... More

Dubai Holding arm to buy Tussauds Group
DUBAI International Capital, a subsidiary of Dubai Holding, has agreed to acquire The Tussauds Group, the largest operator of visitor attractions in Europe, which is currently controlled by funds advised by Charterhouse Capital Partners LLP. ... More

ALLIANCES & JOINT VENTURES

Tata Chemicals to partner Chambal's Moroccan venture
TATA Chemicals Ltd (TCL) will be the equal third partner in Indo Maroc Phosphore SA (IMACID), Morocco, an existing joint venture between state-owned Office Cherifien des Phosphates, Morocco (OCP) and Chambal Fertilisers and Chemicals Ltd. TCL ... More

SOCIETY & DEVELOPMENT

GAIL, cancer hospital to set up pollution centre in Hyderabad
GAIL (India) Ltd and the MNJ Institute of Oncology, Hyderabad, have decided to jointly set up an air pollution related diagnostic centre here. The centre is one of the 22 that GAIL is planning to set up in 22 cities, where it would supply ... More

BONUS ANNOUNCEMENTS

Carborundum board to consider bonus issue
CARBORUNDUM Universal Ltd announced on Wednesday that its board of directors would meet on April 27 to consider an issue of bonus shares. The board would also consider the annual financial results and the dividend for the year, according to a ... More

SICK UNITS

Autokast revival unlikely
REVIVAL of the State public sector unit Autokast at Chertalai in Alapuzha district seems difficult as the Government is unlikely to provide the Rs 20 crore demanded by the company management. The company had requested the Chief Minister, Mr ... More

OUTLOOK

New norms in Rail Budget — Tata Steel may step up despatches by road
TATA Steel may be forced to step up despatches of finished steel items by road in view of the steep increase in demurrage rates, drastic reduction in free time of wagons and changes in certain other rules, as announced in the Rail Budget for ... More

Maruti plans to launch compact car Swift soon
MARUTI Udyog's proposal to introduce the compact car, Swift, is on course and the car will make its bow in a few months. It will be a petrol car and would be produced in its factory here with only 30 per cent import content , according to Mr ... More

Sona Koyo chief confident of Rs 350-cr turnover
SONA Koyo Steering Systems Ltd (SKSSL) is on course to achieve sales turnover of Rs 350 crore during the current fiscal, but a more challenging target of Rs 425-450 crore has been set for the next fiscal, according to the company's Chairman and ... More

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