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Zee to set up global operations HQ at Dubai Media City
Abu
Dhabi: Zee Network
has announced that it will establish its headquarters
for international operations at the Dubai Media City.
Zee will invest Dh 30 million in the initial phase of
the new facility, the Dubai Media City said in a statement.
With a bouquet of 21 satellite TV channels dispersed around
India, Zee Network enjoys an estimated reach of 6.5 million
households, and a viewership of 225 million people in
over 80 countries. Zee Network will use the Dubai Media
City facility for uplinking of its international beams.
Dubai Media City's sophisticated communication infrastructure
and wide spectrum of support services has made it home
today to over 30 broadcasters operating more than 60 TV
channels. The geographical regions Zee services include
West Asia, North and South Africa, the Indian sub-continent,
CIS countries, and Europe.
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BHEL bags Rs.218 crore order for HPCL
captive unit
New
Delhi: The
Bharat Heavy Electricals Ltd (BHEL) has bagged an order
for setting up a 40 MW co-generation captive power plant
on a turnkey basis, according to an official release.
Hindustan Petroleum Corporation Ltd (HPCL) has placed
the order worth Rs 218 crore for setting up a captive
co-generation power plant, as part of its clean fuels
project at Vishakhapatnam in Andhra Pradesh.
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Lodha files for probate
Kolkata:
Rajendra
S. Lodha - the sole beneficiary of the Rs 5,580-crore
assets of the late Priyamvada Birla, widow of M.P. Birla,
as per her last will and testament - on Monday filed an
application for obtaining a probate of the controversial
will at the Calcutta High Court. The probate application
(PLA 204 of 2004) was filed by the solicitors firm Fox
& Mandal. Addressing a press conference Debanjan Mandal,
partner, Fox & Mandal, the solicitors representing
Lodha, read a short statement that said that the probate
would be effective all over the country. An affidavit
of assets was attached with the probate.
According to him, the will of the late Priyamvada Birla
was a registered document, dating back to 1999. It was
registered in Kolkata. The statement issued by the law
firm maintained that Lodha was the executor of Priyamvada
Birla's will. It did not say anything on Lodha's claims
on inheriting her property, including companies such as
Birla Corporation. Meanwhile, a note issued on behalf
of the Birla family said that the Birlas would contest
the grant of probate and that they would remain committed
in their "resolve to protect and secure" the
estate of the M.P. Birla group for charity. The Birlas
have appointed N.G. Khaitan of Khaitan & Co as their
legal advisor.
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Alok Industries to issue FCCBs worth
$28.875 m
Mumbai:
Alok
Industries Ltd, a new generation player in the home textiles,
apparel fabrics and garments sector, has wrapped up its
issue of foreign currency convertible bonds (FCCBs) worth
$28.875 million (about Rs 133 crore). The bonds are unsecured
and fully and compulsorily convertible with relation to
prevailing market price. The company registered a turnover
of Rs 1,066 crore in the last fiscal against Rs 795 crore
the previous fiscal, while net profit touched Rs 62.70
crore, against Rs 42.31 crore in the previous fiscal.
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Air Sahara unveils `SurPrice' fares
New
Delhi: Air
Sahara has announced its 'SurPrice' fares which offer
rebates of up to 69 per cent of the normal return air
fare on sectors such as Delhi-Chennai-Delhi, Delhi-Mumbai-Delhi,
Delhi-Hyderabad-Delhi and Delhi-Bangalore-Delhi, provided
the booking is made 30 days before travel. Under the scheme,
the airline is offering a return ticket on the Delhi-Bangalore
or Delhi-Chennai sectors for Rs 6,666, while a passenger
purchasing a return ticket on the Delhi-Hyderabad sector
will be charged Rs 5,555.
Similarly,
a passenger travelling on the Delhi-Mumbai-Delhi sector
will be charged Rs 4,444, while those doing a return journey
on the Mumbai-Kolkata, Bangalore-Kolkata and Kolkata-Chennai
sector will be charged Rs 6,666. However, a passenger
availing himself of the ticket will have to spend at least
one Sunday at the destination to which they are travelling
and the maximum stay permitted is 90 days. Incidentally,
the airline has announced its new pricing policy days
after the low-cost airline, Air Deccan, announced its
decision to offer fares as low as Rs 500 on the trunk
routes.
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Star TV and Times group to sponsor
Triple A Awards
Chennai:
The
Times group and Star TV will back a revamped Triple A
Awards, according to a press release issued by the Advertising
Agencies Association of India (AAAI), which conducts the
event. The release quotes Sam Balsara, President of AAAI:
"Our member agencies are already reeling under pressure
and our focus at the association is to promote and foster
creativity." Hence the association has "persuaded"
the Times group and Star TV to support the Triple A Awards,
both editorially and financially
This time, the reference year has been changed to July-June
from January-December, thus enabling all work created
during the period January-June to be evaluated quickly
after it is released, Mr Madhukar Kamath, Chairman of
the awards committee, has been quoted as saying. Further,
a senior creative person will head the jury; the person's
name will be disclosed over the next few weeks.
The call for entries will be sent out to member agencies
in the next fortnight and the last day for receiving entries
will be August 15.
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