PMT Row: BG Brass to meet Naik, partners on Oct 9 
New Delhi: The ongoing row over the operatorship of Panna, Mukta and Tapti oil and gas fields is resulting in a revenue loss of around Rs 1.5 crore per day to the consortium of Oil and Natural Gas Corporation, Reliance Industries Limited and British Gas. 
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Rape Of the rock: Supreme Court slaps Rs 1-crore restoration cost 
New Delhi: The Supreme Court has imposed Rs 1 crore as restoration charges in the rock painting case on MBD Books, Coke, Pepsico, Grasim, Fena, State Bank of India, Sleepwell Mattresses and Amaron. 
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Baring to sell 10% Jyothi Labs stake to CDC, Credit Lyonnais 
New Delhi: Baring Private Equity Partners is in the process of selling off its 10 per cent stake in Jyothi Laboratories to CDC Advisors Private Limited and Hong Kong based Credit Lyonnais for $8 million, netting a 130 per cent return on investment of $3.5 million made two years ago. 
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Jindal to invest Rs 225 crore in MSL 
New Delhi: The Rs 1000-crore DP Jindal group will make an investment of Rs 225 crore for expanding production facilities of its flagship, Maharashtra Seamless Ltd. 
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Mumbai firm to drag FACT to court 
Kochi: The decision of Fertilisers and Chemicals Travancore Ltd to invite global tenders for transport of liquefied ammonia gas from the port to its Ambalamedu and Udyogamandal units is likely to be dragged to court for breach of contract. 
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DRL to unveil DRF 8417 
Hyderabad: Dr Reddys Laboratories Ltd will be unveiling its new lead antibacterial molecule - DRF 8417 at the 4-day 42nd annual Inter-Science Conference on Antimicrobial Agents and Chemotherapy, to be held at San Diego, California from September 27. 
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Private cellular networks to block BSNL traffic
New Delhi: The country's private cellular players are about to spoil BSNL's mobile bash. They have decided to bar all BSNL mobile traffic emanating from cell-numbers prefixed with the brand new 94 access-level. 
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DCM audit puts AFF in a spot
Mumbai: AF Ferguson is once again in the news for the wrong reasons - this time for its audit of DCM for 1999-2000. AFF's audit allegedly failed to qualify some crucial omissions from the company's accounts, though these did not depict the true picture. 
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Sterlite meets 80% buyback target, plans to list on the LSE
New Delhi: Sterlite Industries, which is in the race to acquire public sector aluminium major Nalco, will list on the London Stock Exchange by the end of the financial year as 80 per cent of its targeted buyback of equity shares has been met.
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Aditya Birla Group may form SPV for Nalco
Mumbai: The Aditya Birla Group is toying with a few options, such as forming a special purpose vehicle and doing a leveraged buyout, to bid for government's 29.15 per cent strategic stake in Nalco.
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McDowell to produce scotch at Scotland arm
Mumbai: Vijay Mallya-owned McDowell & Company has thought of an innovative way to fight competition from international scotch manufacturers. 
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SAIL expects to be back in black in Q4
Kolkata: Emerging from the dumps, Steel Authority of India (SAIL) is looking at making profits by the fourth quarter of the financial year 02-03. 
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Ranbaxy to buy 10% in Nihon Pharma
Mumbai: Domestic pharma major Ranbaxy Laboratories is set to foray into the $50-billion Japanese pharma market by acquiring 10 per cent stake in Nihon Pharmaceutical Industry, a subsidiary of Nippon Chemiphar.
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Videocon Petroleum ADR issue delayed
Bangalore: The $200-million American depository receipt (ADR) issue of Videocon Petroleum has been delayed by three months. VPL, a privately-held company with the Videocon Group promoters, Dhoot brothers, is involved in oil exploration and drilling. 
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SET Max claims higher viewership for ICC tourney
Mumbai: SET Max, Sonys sports-entertainment channel beaming the ICC knockout cricket series from Sri Lanka, has claimed 30 per cent growth in viewership over the ESPN Star Sports recently-concluded NatWest Series in England. 
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Alliance buys 2% more in Trent, stake up to 9%
Mumbai: The US-based investment fund Alliance Capital has acquired close to 2 per cent in Trent, taking its total stake in the Tata groups retail company to around 9 per cent. The shares were bought from the open market through Alliances Mauritius-based portfolio fund called India Liberalisation Fund.
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Satyam ties up with Commerce One
Chennai: Satyam Computer has announced a strategic tie-up with Commerce One Inc to deliver supply chain solutions to help customers build efficient relations with business partners in the supply network. 
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HPL in talks for 6-month credit for naphtha supplies
Kolkata: Alongside talks to restructure the company's debt profile, the top brass at Haldia Petrochemicals Ltd (HPL) is trying to negotiate a six-month credit system for its naphtha supplies. 
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MCF organises safety training
Mangalore: The UB group's Mangalore Chemicals and Fertilisers (MCF) is organising a month-long safety training programme to cover all the workers of contractors who provide maintenance services. 
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Saregama changing track for comeback
Kolkata: Saregama India Ltd, the erstwhile Gramophone Company of India (GCI), has decided to go for a rejig of its operations in order to get back into pink of health. 
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Harilela group keen to acquire hotel in India
New Delhi: The Hong Kong-based Harilela group, having more than 38 years of experience in investment and development of hotels, intends to make its India foray over the next five to 10 years. 
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RPG Life sets up nephrocare unit
Mumbai: RPG Life Sciences Ltd has set up a specialised division to focus on the nephrocare pharma market. The company has a presence in the Rs 90-crore nephrocare market with its product `Azoran' and will support the second product launched in this in this segment namely, Arpimune ME, a drug used after kidney transplantation. 
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Maharashtra Seamless plans expansion
NagoThane: Maharashtra Seamless Ltd is embarking upon a multi-phased expansion plan over the next two to three years. This includes increasing the seamless tubes production capacity from the present one lakh tonnes to two lakh tonnes and increasing the the product range from seven-inch pipes to 14-inch pipes, the Managing Director, Mr Saket Jindal, said. 
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DCA clarification on unpaid dividend
New Delhi: The Department of Company Affairs (DCA) has issued a clarification on the transfer of "unpaid dividend and other unclaimed amount" to the Investor Education and Protection Fund (IE&PF) putting to rest all the confusion arising out of the interpretation of the norm. 
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BIFR restrained in Jessop case
Kolkata: The disinvestment aspect of the Jessop & Co Ltd (JCL) case took an interesting turn yesterday in the Calcutta High Court. Justice K.J. Sengupta, in spite of the final order of the Board for Industrial & Financial Reconstruction (BIFR) extended the the ad interim order, passed earlier, till October 10, 2002, restraining BIFR from giving any effect to any final order, without the leave of the Court. 
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Saregama says jarring notes may continue
Kolkata: Saregama India Ltd faces another bleak year this fiscal with losses likely to be as high as in 2001-02. 
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BPCL plans Rs 7,500-cr outlay during 10th Plan
Mumbai: Bharat Petroleum Corporation Ltd has planned an outlay of Rs 7,500 crore in the Tenth Plan, Sarthak Behuria, Chairman and Managing Director, told newspersons at the company's post-AGM press conference. 
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ETC entry in US, Britain to add to revenue stream
Mumbai: ETC Networks Ltd, a subsidiary of Zee Telefilms Ltd (ZTL), is expected to add more revenue streams in 2002-03 following ETC Punjabi's entry into the UK, the US, Canada, Australia and New Zealand. 
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Pall India targets Rs 100-cr sales - To focus on transfusion medicine
Mumbai: The company plans to introduce its latest product in the transfusion medical segment pertaining to leukocytes depletion shortly. 
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Govt switch-over to Safaris will not hit us, says HM
Kolkata: Hindustan Motors Ltd (HM) is unfazed by a reported Government move to allow its senior officials to travel in armour-plated Tata Safaris in the place of Ambassador cars. 
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Maruti raises Alto export target to 24,000
New Delhi: Maruti Udyog Ltd has increased the export target for its B-segment car, the Alto, to 24,000 units in 2002-03, following the positive response to the model in European markets. 
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VisualSoft Tech to invite partner to leverage IP - `On course' to achieve steady growth
Hyderabad: VisualSoft Technologies Ltd, the software services and products company based here, is on course to achieve a steady growth following a major nine-month restructure strategy and is now working towards ways to leverage the IP, created from its products division, which includes roping in a strategic partner.
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Gujarat Ambuja Lanka arm sales rise 42 pc - Looks for early mover gains
Mumbai: After establishing itself as one of the leading cement producing majors of India, Gujarat Ambuja Cements Ltd is making inroads into the neighbouring market of Sri Lanka. 
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