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Mahindra
in tie-up with Punjab govt for contract farming
New Delhi: In a bid to break the monocropping cycle
of wheat-rice cultivation, the Punjab government has entered
into an agreement with Mahindra group of company for facilitating
contract farming, crop diversification, backward and forward
linkages with farmers.
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Birlas
step up heat on FIs
Mumbai: The AV Birla group and the financial institutions
have stepped up their negotiations over the former's proposal
to demerge the cement business of Larsen & Toubro,
even as the Birlas await the green light for their original
plan for open offer to L&T shareholders.
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Entertainment
revenues to hit Rs 419 billion by 2007
New Delhi: Revenues in India’s entertainment
industry are estimated to grow at a CAGR of 20 per cent
from Rs 166 billion in 2002 to Rs 419 billion by 2007,
according to the Ficci-KPMG report released on Friday
at Frames 2003.
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HC
slaps notices on Spectrum Power brass in Rs 14-cr loan
depletion case
New Delhi: The Delhi High Court has served contempt
notices against the Spectrum Power Generation Limited’s
managing director M Kishen Rao, wholetime director M Raghuveer
and director M Subramanyam for the depletion of unsecured
loans to Rs 14 crore out of Rs 27.5 crore.
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Centre
to take up Star News uplinking soon
New Delhi: Union Information and Broadcasting minister
Ravi Shankar Prasad said that the uplinking licence of
Star News will be discussed in the cabinet taking the
March 31 deadline into consideration.
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Tata
Industries to transfer stake in Tata Elxsi
Mumbai: Tata Industries is transferring its stake
in Tata Elxsi to group company Tata Sons. Tata Industries
holds 18.98% of Tata Elxsi which will be transferred at
Rs 80 per share to Tata Sons.
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India
Inc. gives worker's bill a thumbs-down
New Delhi: Industry bodies have deplored the proposed
Worker's Participation in Management Bill. The bill seeks
to make the presence of workers on company boards mandatory.
Ficci, CII and Assocham have said it's a creation of a
new inspector raj. “In its present form, it will
only create a new avenue for high handedness of the inspectorate,”
said Ficci president, AC Muthiah.
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Hyundai
begins Santro exports to Colombia
New Delhi: HyundaiI Motor India Ltd has commenced
exports of the Santro to Colombia with a consignment of
650 cars. This is part of the company's efforts to increase
its exports to 25,000 units this year against the 8,245
units it exported in 2002, and its intent to make India
a global export hub, according to a company press release.
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German
Remedies to launch oral drug for Kala Azar
Ahmedabad: German Remedies Ltd, a part of the Rs 1,100-crore
Zydus Group, is set to launch Miltefosine, the world's
first oral therapy to treat Kala Azar.
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Living
Media set to take over Reader's Digest in April
New Delhi: Come April and the Indian Reader's Digest
will be a part of the India Today group. The royalty issue,
which had been delaying the deal for months, has finally
been thrashed out, said officials close to the negotiations.
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Sundram
Fasteners to invest $5 m in China unit
Bangalore: The TVS group-owned Sundram Fasteners Ltd
(SFL), which is setting up a manufacturing base in China,
expects to get started on it in a year's time. The company
would initially invest $5 million into Sundram Fasteners
Zhejiang Ltd, the Chairman-cum-Managing Director, Suresh
said.
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Delay
in inducting funds — BIFR asks Pearl Engg to seek
condonation
New Delhi: Pearl Engineering Polymers Ltd (PEPL),
manufacturers of PET resin, has been instructed by the
Board for Industrial and Financial Reconstruction (BIFR)
to move an application seeking condonation for delay in
inducting funds and issuance of capital for the revival
of the company.
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Dunlop
has `enough funds' to restart Ambattur unit
Kolkata: AAIFR was supposed to hear the arguments of DIL's
debenture holders on March 13, which, however, was deferred
till April 2 .
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