Philips launches drive against spurious goods
Kolkata: Philips India has launched country-wide drive against counterfeit lighting products being sold under its brand name. Several raids have already been conducted in New Delhi, Chennai, Nagpur and Hubli.

Large stocks of spurious products were recently seized by the enforcement officials in central Kolkata. The officials raided a shop in Lenin Sarani on Wednesday pursuant to a court order obtained by the Philips India and seized counterfeit lighting products under the brand name of Philips. The enforcement officials also sized a large quantity of packaging material under the brand name of Philips.

Philips India is considering the possibility of joining hands with other major players in the sector to speed up the drive against counterfeit products and protect its business interest as well as to protect consumers from spurious lighting products.
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Ranbaxy may call off its JV with Eli Lilly
New Delhi: Ranbaxy is considering exiting from its 50:50 joint venture Eli Lilly Ranbaxy (ERL). The Ranbaxy board is meeting on January 5, 2001 to decide on the issue. In a letter sent to the stock exchanges, the company has stated quite unequivocally that the board meeting is being convened to consider and approve divestment of equity stake of the company in Eli Lilly Ranbaxy.

The board is expected to firm up plans on whether to exit the JV -- totally or partially -- or to continue as an equal partner. The issue of reviewing the JV is believed to have come up following Eli Lilly pressing for additional fund infusion into the company to meet its proposed expansion plans, pegged at about Rs 65-70 crore.
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Trammel Crow Savills enters India
New Delhi: The Hongkong-based Trammel Crow Savills (TCS), an international real estate consultancy firm is setting up shop in India. TCS is a 51-49 joint-venture between one of America’s oldest and largest real estate consultants Trammel Crow and European real estate powerhouse Savills will be setting up its 100 per cent subsidiary in India.

The proposed venture is expected to offer consultancy and support services in the area of real estate development and management. It would also undertake market studies, feasibility studies, property appraisals and valuations, besides looking at marketing of Indian properties to both Indian and foreign clients. However, TCS will not be getting into the core property development business itself.

Trammel Crow is listed on the New York exchange SE with a market cap of $426 million. Its European counterpart Savills is listed on the London Stock Exchange with a turnover is around $210 million. TCS has currently a valuation of around $8.28 million, and is operating in East Asia and Australia.
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