20 years ago today

20 years ago today

NOVEMBER 27 | Updated on November 26, 2018 Published on November 27, 2018

Turnover limit hike likely for ‘deemed public cos’

A large number of private companies, currently deemed under law as public companies, may soon be eligible for exemptions from many of the regulatory requirements. This follows the Government's proposal to hike the turnover criteria applicable under Section 43A of the Companies Act. The turnover limit is proposed to be increased from the existing limit of Rs. 10 crores to Rs. 25 crores.

Exxon in talks to buy Mobil in $61 -b mega deal

Exxon Corp., the biggest US oil company, is in negotiations to buy Mobil Corp., for at least $61 billions, in what could be one of the biggest takeovers ever, a person familiar with the talks said. Exxon and Mobil, the No. 2 US oil company, are considering the combination as crude prices hover at the lowest in almost 12 years and earnings have plummeted. Together, the companies would have 22 per cent of the US gasoline market, refine more oil than any company in the world and rank first among the Fortune 500 companies based on revenue. Together, the companies would be bigger than Royal Dutch/Shell Group, the world's largest publicly-traded oil company.

Suzuki's Wagon R in Maruti driveway

With new rivals breathing down its neck and sales dipping in the past couple of months, auto major Maruti Udyog is gearing up to take control of the market again. Indications are a new offering from Japanese partner Suzuki's stable, Wagon R, is quite on cards. According to sources, the company is planning to introduce a 1000 cc sub-compact car from the Suzuki Wagon R platform which was unveiled in Japan sometime ago. The car may be commercially launched in India in February 2000 and the company plans to have a prototype ready by December 1999.

Published on November 27, 2018
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