The Hindu Business Line : Thursday, February 19, 2009

CORPORATE

CORPORATE GOVERNANCE: Satyam board seeks CLB nod to induct strategic investor
Wants to allot pref shares, raise authorised share capital. New Delhi/Mumbai, Feb. 18 The Government-appointed board of Satyam Computer Services Ltd on Wednesday sought the Company Law Board’s nod to induct a strategic ...

FINANCIAL PERFORMANCE: Hindalco’s US arm Novelis posts $1.8-b loss
Loss includes non-cash, pre-tax charges of $1.5 b. Mumbai, Feb. 18 Novelis, the US-subsidiary of Indian aluminium giant Hindalco, reported a net loss of $1.8 billion for the October-December 2008 ...

OUTLOOK: Supply of Reliance’s D6 gas expected by April: Deora
New Delhi, Feb. 18 Supply of natural gas from Reliance Industries Ltd’s Krishna Godavari Basin fields (D6 block) is expected to start by April. This was disclosed by the Minister for Petroleum & Natural Gas, Mr Murli Deora, to ...

NEW PROJECTS: Frontier Business to invest $4 m
Frontier Business Systems will invest $4 million (Rs 20 crore) in its new ‘green data centre’ in Bangalore to expand its virtualisation services business. The 14,000-sq.ft. centre will house around 250 employees, according to ...

ALLIANCES & JOINT VENTURES: BEML, BMRCL sign Metro order
BEML said it has signed the letter of acceptance for the supply of Bangalore Metro rail cars. A consortium comprising the defence PSU, South Korea’s Rotem and Mitsubishi last week bagged the initial Rs 1,672-crore order for 150 cars ...

AWARDS & HONOURS: Golden Leaf awards to be presented tomorrow
The awards of the fifth edition of The Golden Leaf India: Southern Tea Competition (TGLIA: STC), which has received an overwhelming response from stakeholders, will be given away on February 20 at a colourful function at Hotel Taj Malabar, ...

OUTLOOK: GSK Pharma to increase field-force
Q4 net profit zooms on exceptional items, other income. Mumbai, Feb. 18 Recessionary trends notwithstanding, GlaxoSmithKline Pharmaceuticals is set to increase its field-force to support growth in its vaccines, oncology and other speciality ...

COURTS/LEGAL ISSUES: Bail plea of Raju brothers, ex-CFO dismissed again
Hyderabad, Feb. 18 A city court on Wednesday dismissed the bail petition of the disgraced former Chairman of Satyam Computer Services, Mr B. ...

MERGERS & ACQUISITIONS: Hindalco dips into share premium fund
Move to account for Novelis buy. Mumbai, Feb. 18 In using funds from the company’s share premium account to write off expenses incurred on international acquisitions, Hindalco’s results would show a fair view of its operations, said ...

CORPORATE GOVERNANCE: Role of independent directors
It has been recognised for some time, that although there is a legal duty on all directors to act in the best interests of the company, this is not sufficient to give full assurance that potential conflicts will not impair the ...

NEW BUSINESS: Soma Enterprise bags Chennai Metro Rail order
Chennai, Feb. 18 The Hyderabad-based Soma Enterprise Ltd has been awarded a Rs 199-crore contract in the Chennai Metro Rail Project, marking the start of the work on ...

COURTS/LEGAL ISSUES: Maytas Infra to contest bid to supersede board at CLB
Hyderabad, Feb. 18 The troubled Maytas Infra Ltd is gearing up to contest the Government petition to the Company Law Board to permit it to supersede the board, following disclosures of mega financial scandal by the promoter-Chairman of ...

CORPORATE GOVERNANCE: JM Financial looking at legal angles on Maytas exposure
Mumbai, Feb. 18 Financial Services group JM Financial today said the company is seeking legal advice on how to proceed with its investment in the scam-hit Maytas even as IFCI, another major stakeholder, indicated its willingness to join ...

ALLIANCES & JOINT VENTURES: Tata Motors, Central Bank in pact
Mumbai: Tata Motors has entered into an understanding with Central Bank of India for financing its range of passenger vehicles, said a release from the ...

VENTURE CAPITAL: Pranav raising Rs 50 cr via equity
Formwork engineering company Pranav Construction Systems has said that it was raising Rs 50 crore by way of equity from Nine Rivers Capital, a Mauritius-based $125-million private equity fund. Pranav intends using the fund to set up a ...