The Hindu Business Line : Tuesday, February 15, 2005

Dabur appoints Narang on Balsara boards; may buy out residual stake
DABUR India Ltd on Monday said it has appointed Group Director (Corporate Affairs), Mr P.D. Narang, as its nominee on the boards of directors of the each of the three acquired Balsara group of companies. Dabur India had acquired 99.4 per ... More

REL to introduce remote meter reading system
RELIANCE Energy Ltd (REL) is introducing automated meter reading (AMR) for its customers in Mumbai, Delhi and Orissa. Commencing the roll out with high-end HT and LT customers, REL will gradually cover different categories of consumers under the ... More

Reliance Ind to supply ATF, gas oil to Ceylon Petro
RELIANCE Industries Ltd (RIL) has won an order to supply a combination cargo of gas oil (HSD) and aviation fuel (ATF) of 3,00,000 barrels to Ceylon Petroleum (Ceypetco). This includes 1,80,000 of gas oil and 1,20,000 barrels of ATF. RIL ... More

Wockhardt hopes for Rs 100-cr sales in biotech products
WOCKHARDT Ltd is betting on its biotech products and is hoping to generate sales of at least Rs 100 crore from this segment. Mr Habil Khorakiwala, Chairman, Wockhardt, told newspersons that "currently, there are three main drivers — Wepox ... More

Mahindra launches Australian operations
MAHINDRA & Mahindra Ltd on Monday announced the launch of its Australian operations for tractors with the launch of Mahindra Australia. Mr Tony McGrady, Minister of State, Development and Innovation, officially launched Mahindra Australia in ... More

Reliance Infocomm denies charges of `Mahajan link'
RELIANCE Infocomm (RIC) today said that allegations of a `Mahajan link' in investments in the company are totally fictitious. "This transaction has nothing to do with Mr Pramod Mahajan and any insinuation to the contrary is totally mischievous ... More

NHPC's Dhauliganga project to go on stream in March
NATIONAL Hydroelectric Power Corporation's 280-MW Dhauliganga power project is expected to start generation by March following commissioning of the first of its four 70-MW units. "The first unit will become functional in March, and the other ... More

Sujana Ind supplies components to Tecumseh arm
SUJANA Industries Ltd (SIL) informed the stock exchanges on Monday that it has successfully developed precision grinding components required by the US-based Tecumseh Inc, the world leader in manufacturing compressors for air-conditioning and ... More

CORPORATE DISPUTES

Kishore Chhabria transfers stake in Herbertsons to escrow agent — Wants amicable out-of-court deal for Rs 131 cr
The SEBI, which is party to the legal proceedings, has given a conditional nod to the amicable settlement. More

AWARDS & HONOURS

BHEL bags safety initiative award
BHARAT Heavy Electricals Ltd (BHEL) has bagged the Safety Initiative Award, initiated by the Institute of Engineers, for implementing innovative safety and quality procedures and practices. According to a company release, the company has ... More

MERGERS & ACQUISITIONS

GAIL signs deal for 10 pc stake in China Gas
STATE-owned GAIL (India) Ltd will buy a 10-per cent stake in China Gas Holdings Ltd in a deal estimated to be worth $30-35 million, a top company official said. "We have signed a preliminary agreement to buy 10 per cent of China Gas Holdings ... More

CORPORATE GOVERNANCE

`Proper training for independent directors must'
INDEPENDENT directors play a crucial role in ensuring good corporate governance practices. They should be `independent' of management and free of material financial interest; and they should be perceived to be so by the stakeholders, said Mr R. ... More

NEW PROJECTS

AVT to go global with marigold unit in China
AVT Natural Products Ltd (AVT NPL) plans to set up a marigold plantation and processing unit in China in strategic alliance with a US based company. "Final discussions are going on and the company is hoping to conclude the negotiations in ... More

Glaxo plans facility at Nashik to make vaccines
GLAXOSMITHKLINE (GSK) Pharmaceuticals Ltd is planning to set up its own vaccines manufacturing facility in India, with the intent of meeting the fast growing demand for human vaccines, both paediatric and adult. The new vaccines facility would ... More

SOCIETY & DEVELOPMENT

De-fluoridation project in Nalgonda dist.
HYDERABAD: Premier Explosives Ltd (PEL) has embarked on a de-fluoridation project to provide drinking water to the villagers of Peddakandukuru in Nalgonda district on the occasion of its silver jubilee celebrations on Monday. The ... More

STANDARDS & BENCHMARKS

Eastern Condiments sets up hi-tech lab for testing spices
EASTERN Condiments Pvt Ltd, part of the Rs 130-crore Eastern Group, has set up a hi-tech laboratory at an investment of Rs 75 lakh to test health hazards in packaged condiments and spices. The full-fledged laboratory is meant fordeveloping ... More

ECONOMIC OFFENCES

Serious fraud office moves court against Daewoo Motors India
THE Serious Fraud Investigation Office (SFIO) has filed almost 16 cases against Daewoo Motors India Ltd (DMIL) before the designated court that considers company cases. With this, the SFIO proposes to bring its investigations to an end. ... More

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