The Hindu Business Line : Tuesday, December 06, 2005

Jet Airways to buy flight simulator from Canada firm
JET Airways has signed an agreement with CAE Inc of Canada for buying a full flight simulator for the B737-800 aircraft. The airline will take delivery of the simulator in 2006. It will be installed at the Jet Airways training centre here, which ... More

Wockhardt launches new hepatitis A vaccine
PHARMA major Wockhardt Ltd has launched a new generation hepatitis A vaccine in collaboration with Zhejiang Pukang Biotechnology Company Ltd of China, the originators of the vaccine. Hepatitis A is a viral infection affecting the liver and is ... More

Mukand sells Kurla land
MUMBAI: Mukand Ltd, a speciality steel manufacturer, on Monday announced that it has concluded the sale of its 25-acre land at Kurla in Mumbai with a consortium of developers for Rs 221 crore. As per the MoU entered with the buyers, the ... More

IOC, Timken India sign pact
NEW DELHI: Indian Oil Corporation Ltd and Timken India Ltd, a wholly-owned subsidiary of The Timken Company of US, have signed an agreement for manufacturing and marketing of `Timken Premium Automotive Grease'. As per the agreement, ... More

Hyderabad Flextech equity offer
HYDERABAD: The board of directors of Hyderabad Flextech Ltd (HFL) has cleared a resolution to offer 12.5 lakh equity shares of Rs 10 each at par in favour of IDBI Bank by converting the loans into equity. The company has informed the ... More

PVR plans to expand presence in Mumbai
PVR Ltd, which is entering the capital market with its initial public offer, has said that its business is dependent on the popularity of the films it exhibits. "From time to time, the film industry fails to produce blockbuster films with ... More

OVERSEAS BORROWINGS

SpiceJet raises $80 m thru FCCBs
SPICEJET Ltd on Monday announced that it has raised $80 million through the issue of Foreign Currency Convertible Bonds (FCCBs) in the international market. The funds raised from this issue would be utilised to part-finance the fleet expansion ... More

COMPANY LAW

India Inc wants deadline extension to appoint independent directors
EIGHTY five per cent of the corporates surveyed by Assocham favoured a deadline extension from December 31, 2005 to March 31, 2006 for appointing independent directors in listed companies. The Assocham (Associated Chambers of Commerce and ... More

RESTRUCTURING

Reliance demerger: HC verdict on Dec 9
THE Bombay High Court will give its judgment on the demerger scheme of Reliance Industries Ltd (RIL) and its group companies on December 9. The merger scheme was challenged by an Ahmedabad-based RIL shareholder, Mr Kalpesh Mankad. After ... More

MERGERS & ACQUISITIONS

Biocon plans to acquire Nobex's IP assets
BIOCON will seek to acquire the intellectual property of its research collaborator Nobex Corporation, which has applied for cover under Chapter 11 of US bankruptcy laws, Biocon informed the BSE. The Bangalore-based biotechnology company and ... More

Ruias get Dunlop, Falcon for Rs 200 cr
THE Ruia group led by Mr P.K. Ruia is believed to have acquired a 68-per cent stake in Dunlop India at an effective price of Rs 25 crore, according to sources. Similarly, the acquisition of roughly 74.5 per cent stake in Falcon Tyre has, ... More

To visit Ambattur factory this week
THE Ruias, who have acquired Dunlop India Ltd, are likely to visit the Dunlop factory at Ambattur (in Chennai) here this week to assess the situation there and hold a preliminary discussion with workers, sources from the Dunlop Factory Employees ... More

Suryavanshi Spng merger okayed
HYDERABAD: The board of directors of Suryavanshi Spinning Mills Ltd (SSML) on Monday approved the proposal to merge with itself Suryavanshi Textiles Ltd, a garment manufacturing company, subject to the nod of shareholders and lenders ... More

`DP World's takeover of P&O can lead to monopoly'
THE Water Transport Workers Federation of India, one of the five major federations of port and dockworkers, has cautioned against the emergence of a monopoly in container port services in India, following the acquisition of P&O Ports by DP ... More

ALLIANCES & JOINT VENTURES

IIEL in pact with Russian co for oil drilling services
INDIAN Infrastructure Equipment Ltd(IIEL), an infrastructure equipment rental company, and Oil Technologies Overseas (OTO), Moscow, have signed an agreement to develop a joint business in drilling and related services for the Russian and Indian ... More

Cyber Media, Expomedia in pact
CYBER Media India Ltd and Expomedia Group PLC have announced the signing of a 10-year joint venture agreement to collaborate on organising international events in the information and communications technology (ICT) and life sciences ... More

GAIL, IGL ink pact
NEW DELHI: GAIL (India) Ltd and Indraprastha Gas Ltd (IGL) on Monday signed an agreement for enhanced supply of 2 million standard cubic metre per day (mscmd) of natural gas to IGL. According to a company communiqué, the increase in ... More

OUTLOOK

DuPont looking for site to set up R&D centre
DUPONT India's long-standing plans to start a research & development (R&D) centre in the country seem to have fructified. The company is actively looking for a site for their full-fledged R&D centre that would cater not only to domestic More

Ruia Group may expand Dunlop's truck tyre manufacturing capacity
AFTER having acquired Dunlop, the Ruia Group is now considering the expansion of the company's truck tyre manufacturing capacities at both Sahagunj and Ambattur. In fact, the group is hopeful of opening the tyre and industrial products division ... More

Ramco group bets big on captive power — Thermax bags order for 18-MW thermal plant
One tonne reduction in carbon dioxide is equivalent to one carbon credit. Only projects set up after January 1, 2000 qualify for carbon credits. More

Vishal Retail plans expansion, targets Rs 300-cr turnover
NEW DELHI-based Vishal Retail Pvt Ltd plans to expand its Vishal Megamart chain of retail outlets. It will open 20-25 stores in class-B cities of Rajasthan, Uttar Pradesh, Himachal Pradesh, Gujarat and Punjab. The expansion will be completed ... More

Sakthi Auto may hasten investment to meet demand
THE demand for auto components, both from its existing clients and new ones, has prompted Sakthi Auto Components Ltd (SACL), a subsidiary of Sakthi Sugars, to alter its investment plans for expansion. A senior official of SACL, who spoke to ... More

ECONOMIC OFFENCES

Corporate India plagued by fraud: PwC survey
ECONOMIC crime is on the rise in the country, with Indian companies now reporting newer types of crimes such as money laundering and financial misappropriation, according to the PricewaterhouseCoopers (PwC) Economic Crime Survey 2005. The ... More

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