BSNL, MTNL selloff not before 2004: Mahajan
New Delhi: The department of information technology would be extending around Rs 30 crore support in terms of providing technical support and IT infrastructure to set up electronic land record management system in one district of each of the states.
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Rural India bridges CTV divide, may contribute 70 per cent
New Delhi: The rural market is expected to account for 70% of total colour television sales in '02-03. According to industry estimates, the semi-urban and rural markets are expected to account for about 7% of the 10% growth forecast.
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Green Label sakes McDowell thirst, more buys on hold
Mumbai: Having pocketed the coveted Gilbey's Green Label whisky, McDowell, UB group's spirits company has decided not to pursue any more acquisitions for now. This is due to the fact that the MoU it had signed with the Narangs to acquire a distillery in Uttar Pradesh has fallen through.
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Government rejects Nestle's royalty payment plan
New Delhi: Nestle India's proposal to pay royalty on finished products imported from other Nestle companies worldwide has been rejected by the government.
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National Insurance Company to hire more agents
New Delhi: National Insurance Company (NICL) has set a target of recruiting 2,000 professional agents per region for the current financial year for its 20 regional offices.
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BHP India's foreign pact gets second extension
New Delhi: BHP Petroleum India, the Indian arm of the Australian petroleum major BHP Petroleum, has once again been granted a two-year extension for its foreign collaboration approval, that expired in November '02.
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BNP Paribas lists Mukand as a wilful defaulter
Mumbai: BNP Paribas has named Mukand as a wilful defaulter and filed a suit against the company for an outstanding loan of Rs 25 crore as on March '02. Mukand, which is jointly owned by the Bajaj and the Shah family, has strongly objected to this with BNP's exposure constituting only 2 per cent of the company's total loans.
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BSNL ready to match Reliance tariffs: CMD
New Delhi: Bharat Sanchar Nigam (BSNL) plans to match Reliance's tariffs if they are cleared by the Telecom Regulatory Authority of India (Trai). In the meanwhile, it is waiting for the Trai to clear its own tariff plans, to which the regulatory body has recently raised objections.
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Perot Systems may review its JV with HCL
New Delhi: Perot Systems of the US has filed a statement with SEC revealing unseen liabilities in the future - described as "material contingent liabilities" - in HCL Perot Systems, a 50:50 joint venture between HCL technologies and Perot Systems.
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Cell companies say no to Tata Tele and Reliance
Mumbai: Even as the country's two biggest industrial houses Reliance and Tatas get ready to launch their limited mobility services, a major problem confronts them. Reliance Infocomm and Tata Teleservices are facing rough weather from cellular operators.
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Nalco sell-off back on track
New Delhi: The disinvestment of National Aluminium Company is not quite on the backburner. Despite political opposition to the move, certain processes are moving apace.
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Boeing eyes A-I deal
New Delhi: Aircraft manufacturer Boeing said it would concentrate on clinching the Air-India deal, and was willing to have a dialogue with the government on the Indian Airlines’ proposal to acquire 43 aircraft.
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TAMP tariff forces feeder operators to suspend service
New Delhi: The recent tariff revision at major ports for coastal vessels by Tariff Authority for Major Ports has forced feeder operators to suspend their domestic container service.
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NTN Corp in talks with National Engg for global markets
New Delhi: As part of its cost-cutting exercise, Japan-based NTN Corporation, a leading bearings manufacturer in the world, is holding talks with Jaipur-based National Engineering Industries Ltd, for manufacturing some of its products in India for global markets.
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CV sales surge 23 per cent in November
Mumbai: Domestic car sales rose by 7.6 per cent during November 2002 on the back of growth posted by major automakers including Maruti Udyog, Hyundai Motor India and Tata Engineering.
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Mico yet to decide on future investments
New Delhi: Mico Ltd is yet to decide on its investment corpus for the next financial year, according to its Managing Director, Andreas Nobis. The company had earlier halved its proposed Rs 500-crore investment plan for the current financial year.
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Aventis CropScience gets new name
New Delhi: Aventis CropScience India Ltd will now be known as Bayer CropScience India Ltd following the acquisition of the former's global cropscience business by the Bayer group, Germany.
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Indo Rama shareholders okay spun yarn demerger
New Delhi: The Rs 1,900-crore Indo Rama Synthetics (I) Ltd (IRSL) has come a step closer towards segregating the spun yarn business of the company into Indo Rama Textiles Ltd (IRTL). The shareholders of IRSL, who met at Indore to consider and approve the scheme of arrangement, have given their nod to the proposal, a company official said here.
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L&T to increase stake in Oman joint venture
Mumbai: Larsen & Toubro Ltd (L&T) is set to increase its stake in a joint venture in Oman, L&T Oman LLC, which is into turnkey construction projects. With the increased stake, the Oman company will become a subsidiary of L&T.
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FIPB proposes, DEA opposes KK Birla group's plans for Chambal Agri hit roadblock
New Delhi: The Foreign Investment Promotion Board (FIPB) and Department of Economic Affairs (DEA) are at loggerheads over approving a K.K Birla Group plan to transfer ownership of a group company, Chambal Agritech Ltd (CAL), from India to Singapore.
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Shalimar Paints plans Rs 12-cr unit in North
New Delhi: Shalimar Paints Ltd (SPL), jointly controlled by the Ratan Jindal group and S.S. Jhunjhnunwala of Hong Kong, has planned to set up a greenfield unit in the northern region with an investment of around Rs 12 crore.
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ABN-Amro Lease, UK Paints in pact
Mumbai: ABN-Amro Lease Holding has entered into a new joint venture agreement with UK Paints (India) Pvt Ltd. The new partner will own 49 per cent of shares in LeasePlan India.
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