The Hindu Business Line : Friday, May 20, 2005

Confounding corporate governance
THE recent developments at the Reliance group highlight the opaqueness in Indian corporates. The allegations of movement of funds and a divergence between control and cash flow rights across group companies is at the heart of the corporate ... More

MERGERS & ACQUISITIONS

Welspun, Glofame merger complete
MUMBAI: Welspun India Ltd has informed the BSE that the scheme of amalgamation between Glofame Cotspin Industries and the company and their respective creditors and members has come into effect from May 18, with the appointed date being ... More

NEW PROJECTS

Betts India to start production in HP facility from July
BETTS India, a 100 per cent subsidiary of the UK-headquartered Betts Group, is expected to commence production of laminated tubes at its upcoming facility in Himachal Pradesh by July. The company, which is setting up its second manufacturing base ... More

OVERSEAS INVESTMENTS

Indian Oil plans to expand to African markets
AFTER entering Mauritius, Indian Oil is now planning to expand its operations to neighbouring African countries. The company has also doubled its investment plan in Mauritius from $18 million to $35 million. On the cards are setting up of a ... More

REGULATORY BODIES & RULINGS

Ministry to digitise data on companies
THE Ministry of Company Affairs (MCA) has initiated moves to digitise the vast data on companies, simplify procedures and help businesses by streamlining processes through electronic filing systems. The MCA Secretary, Ms Komal Anand, has said ... More

RoC asked to issue notice to Reliance cos
THE Ministry of Company Affairs has asked the Registrar of Companies to issue notice to Reliance Group companies on complaints received from Mr Anil Ambani on lapses in corporate governance norms. "We have asked the RoC to give a notice to ... More

ALLIANCES & JOINT VENTURES

Zydus ties up with Australian co for cancer drugs
ZYDUS Cadila Ltd has tied up with Mayne Pharma, an Australian company specialising in injectable drugs, for producing anti-cancer medicines. The 50:50 joint venture between these companies will manufacture generic injectable cytotoxic ... More

Jain Irrigation, Taiyo Kagaku sign deal for frozen foods
JAIN Irrigation Systems Ltd has announced that it has entered into a formal agreement with Taiyo Kagaku Company Ltd, Japan, for production of individually quick frozen (IQF) food products. An IQF facility as per the Japanese standards has been ... More

EVENTS

`Competition policy implementation subject to States' cooperation'
SUCCESSFUL implementation of the competition policy will be facilitated if all State Governments willingly embrace it, the Minister of State (Independent Charge), for Company Affairs, Mr Prem Chand Gupta, said. Speaking at the valedictory ... More

SICK UNITS

Hindoostan Spinning pays Rs 3-cr dues to workers
THE Directors of the Hindoostan Spinning and Weaving Mills on Thursday paid Rs 3 crore to the workers of its Mahalaxmi unit at a small function organised within the mill premises.In 2002, the company had closed its operations in three Mumbai ... More

OUTLOOK

Shaw Wallace Breweries to tap draught beer market
SHAW Wallace Breweries Ltd (SWBL), managed by the global brewing giant SABMiller, is poised to foray into the draught beer market shortly. It is finalising plans to extend Castle Lager and Royal Challenge brands into the diminutive domestic ... More

Godrej Consumer looking at buys in FMCG business
GODREJ Consumer Products Ltd is looking at acquisitions in FMCG business but believes that growth opportunity through the organic route is immense. "We are constantly looking at acquisitions in soaps and other FMCG businesses but at the same ... More

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