Irdas income in 2000-01 at Rs 22 Crore 
New Delhi: The total receipts of Irda during 2000-01 amounted to Rs 21.86 crore, of which nearly Rs 19 crore came from insurance companies and another Rs 2.75 crore from agent registration fees, according to the maiden audited accounts of the regulator. 
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Chimayo Chains Hunts for strategic investor in Qwikys 
Chennai: Chimayo Chains Pvt Ltd, master licensee of Qwiky Corporation Inc, is looking for a strategic investor for a second round of investment before going for an IPO (initial public offering) next year. 
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L&T inks pact with Bangladesh cement firm 
Mumbai: Larsen & Toubro Ltd has signed a contract valued at $23 million with Lafarge Surma Cement Ltd of Bangladesh for construction of a 17 km long cross-national belt conveyor. 
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Pfizer net rises 4.5% to Rs 15 crore in August-quarter 
Mumbai: Pfizer Ltd has posted a 4.49 per cent increase in net profit to Rs 15.36 crore for the quarter ended August 31, 2002 as compared to Rs 14.7 crore for the corresponding quarter last year. 
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Wockhardt drug is top indian brand: survey 
Mumbai: Wockhardts Methycobal has been ranked as the most successful brand launched in the Indian pharma industry for the period September 2001 to August 2002, according to ACNielson ORG MARG. 
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RIL contributes Rs 26 crore towards DCA investor fund 
New Delhi: Reliance Industries is among the first to pay up Rs 25.82 crore towards the investor fund, created by the Department of Company Affairs under section 205C of the Companies Act, 1956, which deals with unclaimed dividends and application money received by companies for allotment of any securities and due for refund. 
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Berger Paints in parleys to snap up Snowcem
Mumbai: Snowcem India, the TB and BR Ruia-controlled paints major, is understood to be at an advanced stage of negotiations with Berger Paints to sell its exterior paints business.
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MashreqBank walks out of RIB deal
Mumbai: MashreqBank has walked out of the RIBrelated loan deal, taking on SBI. The West Asian bank has refused to roll over the last leg of the high cost money that was on lent to it by SBI. 
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Aluminium foundry to help Maruti save Rs 2,000 per car
New Delhi: The Rs 120-crore aluminium foundry being jointly developed by Suzuki Motor and Maruti Udyog will generate around Rs 70 crore a year in cost savings for the countrys largest carmaker.
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Mudra sets up new division to handle pharma a/c
Mumbai: In a bid to improve its bottomlines, advertising major Mudra Communications Limited has set up a new division - Brand Therapist - to cater to the communication needs of the Rs 17,000-crore pharmaceutical industry.
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P&G to outsource Vicks to Hyderabad manufacturer
Mumbai: Procter & Gamble Hygiene and Health Care has decided to outsource the manufacture of Vicks Vaporub exports to a Hyderabad-based contract manufacturer, Maksons.
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Indo-Nissin, Marico end marketing tie-up
New Delhi: Japanese company Indo-Nissin, makers of Top Ramen smoodles, has ended its marketing tie-up with Marico Industries. 
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Now we transfer petrochem technology to the US
It is a rare case of reverse technology flow. Usually Indian companies are seen to queue up for technology from foreign companies but Indian Petrochemicals Corporation Limited has done exactly the opposite.
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Hind Tele staffers are set for rough times ahead
Chennai: In about two weeks, the erstwhile PSU Hindustan Teleprinters (HTL) will be completing its first year under the private sector management, after the Union government sold 74% of its equity stake to Himachal Futuristic Communications on October 16, 01 for Rs 55 crore.
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Escorts to offload stake in healthcare venture
New Delhi: The Escorts group has set the ball rolling for offloading a minority stake in their healthcare venture to a private equity player. According to sources, the group can expect up to $25 million from the sale. 
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Fiat tests MUV Doblo for launch
Mumbai: Fiat India, the domestic unit of the worlds seventh-largest auto group, is conducting preliminary tests for the launch of the Doblo multi-utility vehicle, which will compete with the likes of Japanese giant Toyotas Qualis on the Indian roads. 
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ACT gets stay against notice from Chennai port
Chennai: The Chennai Port Trust has served termination notice on ACT India Ltd, the licence-operator of Jawahar Dock (JD) berth No 5 inside the port, as the company has not paid its dues. 
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Depreciation rates cut to 80 pc on tangible assets
New Delhi: The Finance Ministry has cut depreciation rates on a host of tangible assets - including energy saving devices, air pollution equipment, water pollution control equipment and solid waste control equipment from 100 per cent to 80 per cent.
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SWC hires Mercer to draft HR roadmap
Kolkata: In a bid to build bridges with employees, liquor major Shaw Wallace has engaged Mercer Human Resource Consulting for evolving and implementing human resource roadmap. 
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Chambal Fert to acquire 51% in Australian biotech giant
Hyderabad: In a major development, Chambal Fertilisers and Chemicals Ltd (CFCL), the agri-inputs major belonging to the K.K. Birla-controlled Zuari-Chambal group, has decided to acquire a controlling stake of 51 per cent in the Australian agri-biotechnology giant - Technico Pty Ltd. 
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Alembic's new division `SynX' launched
Mumbai: The Vadodara-based Alembic Ltd on Thursday launched a new division called `SynX' to cater to patients suffering from a condition called Syndrome X. Syndrome X is a term indicating the association of glucose intolerance, dyslipidemia, hypertension and insulin resistance. These metabolic abnormalities are often associated with insulin resistance.
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GRT Grand Days tightens belt to face competition
Chennai: With almost 1500 three-star rooms coming up in the next six months in T. Nagar alone, GRT Grand Days is gearing itself to face the competition head-on. M.O. Koshy, Vice-President, G.R.Thanga Maligai (P) Ltd, which owns GRT Grand Days, said the company was in the process of upgrading the product and tightening its belt. 
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Infosys eyeing treasury, wholesale banking sector
Bangalore: Software major Infosys Technologies has announced that treasury and wholesale banking will be a major focus area in European market for its Banking Business Unit. Finacle, the Infosys e-Platform for the global banking industry, has recently been augmented with the acquisition of a treasury solution, which is now being marketed under the brand Finacle Treasury.
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M&M sees tractor sales dipping 5% this year
Mumbai: Mahindra & Mahindra expects its tractor sales to dip five per cent to 55,000 units in financial year 2002-03, from 58,073 units a year ago, B. Mishra, Head-Marketing, said. 
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