The Hindu Business Line : Corporate

April 1: Power Finance Corporation shoots off a fresh letter to the Lanco-Globeleq combine, seeking clarification from the consortium regarding certain submissions made in its confidential bid document for the proposed 4,000-MW Sasan Ultra Mega project.

April 2: The Lanco chief, Mr Madhusudhan Rao, denies misrepresentation in Sasan bid document

HCL Infosystems permitted to restructure the company by demerging its networking business into Microcomp Ltd.

Fiat inaugurates its Ranjanagaon facility, built in partnership with Tata Motors, and rolls out its first offering, the Palio Stile from the new plant here today.

The Zee Group announces the Indian Cricket League with a prize-money of $1 million (Rs 4.28 crore).

The US Supreme Court declines to intervene in Ranbaxy’s appeal of a lower-court ruling given last year upholding a Pfizer patent on Lipitor

The US subsidiary of Indian Hotels Company Ltd (collectively known as Taj Hotels, Resorts and Palaces) will acquire 100 per cent stake in the San Francisco-based four-star Hotel Campton Place at $60 million (Rs 270 crore).

April 4: The Novartis case contesting the rejection of its patent application on cancer drug Glivec moved to an Intellectual Property Appellate Board in Chennai.

April 5: The alliance between Royal Dutch Shell and ONGC for development of the latter’s Kalol oil field in the western onshore region (Gujarat) runs into rough weather as the two entities are unable to reach a commercial understanding on the project.

April 6: Ranbaxy Laboratories decides to pick up 14.9 per cent stake in Hyderabad-based Jupiter Bioscience.

April 9: The Hyderabad-based Lanco Group says its power trading arm, Lanco Electric Utility Ltd has bagged the Damodar Valley Corporation’s tender for the sale of its power.

Sun TV secures interim stay from the Madras High Court on the Telecom Disputes Settlement and Appellate Tribunal order asking it to share its signals with the Direct-to-Home provider TataSky.

Bajaj Auto opens new plant in Uttarakhand

April 10: Suzlon Energy Ltd raises its bid price for acquiring REpower Systems AG, the German wind turbine producer, to 150 per share from 126 per share.

April 15: Material handling company Macneill Engineering Ltd enters into a technical collaboration with a major South-East Asian forklift manufacturer for introduction of a range of diesel forklifts of 2.5-3 tonnes capacity in the Indian market.

April 16: The Ruias-controlled Essar Group agrees to buy the Canadian steel company Algoma Steel Inc for $1.58 billion (around Rs 6,636 crore) in an all-cash deal.

Petronet LNG Ltd diverts LNG sourced for Ratnagiri Gas and Power Pvt Ltd, the erstwhile Dabhol project, to other customers in the absence of a pipeline to transport the gas.

The Lanco group receives clearance for the proposed $1-billion IT special economic zone planned near Hyderabad.

April 17: Tata Steel gears up to raise $2.3 billion (about Rs 10,000 crore) in the coming few months to part finance its $12.9-billion acquisition of Anglo-Dutch steel maker Corus.

Dr Reddy’s Laboratories Ltd signs on as the first participant in United States Pharmacopoeia’s (USP) Pharmaceutical Ingredient Verification Programme.

April 19: Cadila Healthcare Ltd (Zydus Cadila) acquires Nippon Universal Pharmaceuticals Ltd.

Indian Petrochemicals Corporation Ltd formally merged with Reliance Industries Ltd.

A Central Excise order to Tata Chemicals demanding Rs 557 crore as duty quashed by the Central Excise and Service Tax Appellate Tribunal.

April 20: ACC picks up about 13 per cent equity stake in Orissa-based Shiva Cement Ltd.

April 21: The Debts Recovery Tribunal-I, Chennai, restrains EID Parry Ltd from running the plant of New Horizon Sugar Mills Ltd, which EID Parry took over in Mar. 2005.

April 23: Matsushita Electric Works of Japan acquires 80 per cent equity stake in the privately held Anchor Electricals for Rs 2,000 crore.

Tata Motors launches the Tata Ace in Nepal.

Power Finance Corporation transfers Coastal Gujarat Power Ltd — the special purpose vehicle set up for the 4,000-MW Mundra ultra mega power project — to Tata Power Company.

April 24: Vedanta buys 51% in Sesa Goa for Rs 4,070 cr

Jubilant Organosys announces acquisition of the US-based Hollister-Stier Laboratories for $122.5 million.

April 26: Wind turbines operated by Suzlon in Sangli District in Maharashtra shut down following protests from local residents.

April 30: Ashok Leyland Ltd signs share purchase agreement to acquire 100 per cent of the paid-up capital of Defiance Testing and Engineering Services Inc of the US, for a consideration of $17 million (Rs 70 crore).

Sakthi Auto Component Ltd, a subsidiary of Sakthi Sugars Ltd, acquires Intermet Europe, an auto components manufacturer, through a $130-million (Rs 533 crore) deal.

Events 2007 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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