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CNBC India
keeps options on Sony deal open
New Delhi:
CNBC India has kept the option of continuing with its distribution
alliance with Sony Entertainment Television open. The channels
distribution deal with SET comes to an end next year. Says CNBC
India CEO Haresh Chawla: "We will have to evaluate the option
of whether to continue with the existing arrangement or align
ourselves with one of the other bouquets. A decision will be taken
later in the year."
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Tetley
to save on interest with Tatas cash infusion
Mumbai: Last
years decision by Tata Sons and Tata Tea to inject 30 million
of cash into Tetley will help the British tea major save on
interest outgo during 2002-03 as well. The saving for the year is
estimated at 7.3 million.
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Auditors
qualify SPIC accounts
Mumbai: Auditors
AF Ferguson & Co have qualified SPIC accounts on three counts
capitalisation of the cost of borrowings made for investing in
a subsidiary company (Rs 48.46 crore), and non-recognition of an
interim downward revision.
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Dabur
revamps risk management set-up
Mumbai: The move
marks a significant departure from the companys decentralised
transactions-based approach. Earlier, Dabur had been working with
over 20 local internal audit firms.
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BOC
India to set up plant at Jamshedpur
Kolkata: Announcing
the companys investment plan here, Sanjiv Lamba, managing
director, BOC India Ltd, said a supply contract for a period of 15
years between BOC and Tata Steel has been signed.
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Stiffer
norms soon for audit panels
New Delhi: The
Department of Company Affairs will soon come up with stringent
rules to strengthen the functioning of audit committees in
companies. The audit committee rules would ensure that Indian
companies do not go the way of some of the large corporates.
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Pawan
Hans signs MoU with CHC International
Mumbai: In
an effort to be a more aggressive player in the global helicopter
market, Pawan Hans Helicopters Ltd has entered into a memorandum
of understanding with the worlds largest helicopter operations
company, the Canada-headquartered CHC International.
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GailTel
joins hands with Bharti Telesonic
Mumbai: GailTel,
the telecom service unit of Gas Authority of India Ltd, has signed
a contract with Bharti Telesonic for providing bandwidth on the
Delhi-Mumbai route for data communication, according to an
official release.
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Silk,
Chinese firm joins hands to make turbines
Mumbai: The
Chinese partner will offer all technical support to the company
Silk to adopt modern manufacturing processes.
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Haldia
Petro worried about the debts
Mumbai: The
chances of the beleaguered petrochemical company Haldia
Petrochemicals Ltd clearing, by 30 June 2002, its Rs 106-crore
dues to term lenders now seem remote.
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Post-1991,
companies failed to grow big
New Delhi: The
1,739 companies that were born post-1991 had a combined sales less
than that of IOC and their combined profits are equal to that of
ONGC, according to a study.
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Steel
companies avoid long-term deals
New Delhi: Long-term
export contracts are out for steel companies. Most Indian steel
companies are now booking orders for only a months advance for
export deals.
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Indo
Matsushita to launch products
Mumbai: Indo
Matsushita Appliances Co Ltd, makers of the national brand of
kitchen appliances, will introduce a slew of products for the
Indian market, beginning from July 2002.
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APCO
signs MoU with Thai firm
Hyderabad: APCO,
the apex body of handloom weavers in Andhra Pradesh, has signed an
MoU with the Bangkok-based Beta Intertrade for an initial supply
of over 2 million hand-crocheted caps, valued about Rs 16 crore.
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Lafarge
debt rating gets a Crisil re-look
Mumbai: Crisil
is taking a close look at the Rs 295-crore long-term debt of
Lafarge India with Standard & Poors downgrading its parent
from BBB+ to BBB.
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Oil
firms may convert franchises to self-owned outlets
New Delhi: With
the government allowing private players in the oil and gas sector
to set up retailing outlets, public sector oil companies are
strengthening hold over their outlets and converting franchisee
outlets to company-owned.
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MSEB
asked to refund excess-billed amount
Mumbai:
The MERC has directed the MSEB to withdraw wrong energy bills
"with an apology" and also refund the excess collection
of meter cost and security deposit through its next bill in all
such cases, wherever it has not been done yet.
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NTPC
to get incentives for exceeding 77% PLF
Mumbai:
The state-run NTPC would be entitled to incentives for generation
beyond 77-per cent plant-load factor instead of the present level
of 68.49 per cent under the availability based tariff to be
introduced from 1 July 2002 in the western region, comprising
Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh and Goa.
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DuPont
eyes Rs 1,000-crore turnover from Indian arm
Mumbai: DuPont
India, the Indian arm of the two-century-old multinational DuPont,
aims to clock a revenue of about Rs 1,000 crore from its Indian
operations by the year 2003.
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