Big brother rules - Reliance Energy to 'consult' RIL
Mumbai: Reliance Energy Ltd's board of directors has decided to "separately" consult the board of its principal shareholder, Reliance Industries Ltd, on its future prospects. This development has arisen in the context of REL committing itself to investments about which RIL was allegedly kept in the dark.

Lenders to the proposed Uttar Pradesh power project have insisted on a debt-equity ratio of 70:30. The financial institutions had reportedly rejected REL's proposal for financing the Dadri project with a 90 per cent debt component and 10 per cent equity, which would have been against the industry norm of a 70:30 debt to equity ratio.

This would have made a difference of over Rs2,000 crore to Reliance group's investment in the project, prompting REL's decision now to consult its parent company separately.

The board also requested the six directors who had resigned last week to reconsider their decision.

The statement also said: "... the board of directors also decided to separately consult the board of its principal shareholder, Reliance Industries Ltd, on several matters concerning the future prospects of the company, and related issues."

According to industry observers, the statement is a clear indication that RIL, which holds 50.2 per cent stake in Reliance Energy Ltd, would take investment decisions for the proposed 3,740-MW Uttar Pradesh power project.

The project had earlier been announced by Anil Ambani, REL's Chairman and Managing Director. Sources in Reliance Industries have indicated that the decision to set up the Uttar Pradesh power project had been taken without consulting the RIL board.
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Tata Chemicals bag safety award
Mumbai: Tata Chemicals Ltd (TCL) has been awarded the 'Sword of Honour' by the British Safety Council, for its safety management system.

Homi Khusrokhan, Executive Director, TCL, received the award at a function in London last week, an official statement said.
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Nandan Biomatrix's R&D unit for jatropha seedlings
Hyderabad: Bio diesel major D1 Oils of UK and the Hyderabad-based Nandan Biomatrix Ltd (NBL) have entered into an agreement for establishing a research and development centre for jatropha seedlings and also to set up a seed bank for bio diesel plantations.

The R&D facility is aimed at developing both site and region specific Jatropha clones to be distributed across the globe, and will also cater to the large-scale requirements of quality jatropha seedlings enabling the development of catchment areas internationally.

This initiative is in response to the large-scale Jatropha plantation programmes that both the companies have planned, according to a NBL press release.
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Matrix ties up with aRigen for drug research
Hyderabad: Arigen Inc, the Japanese pharmaceutical research major, have entered into an alliance for drug research with Matrix Laboratories Ltd. In a press release here, Matrix Labs said the agreement outlines a multi-year joint drug development programme under which Matrix would prepare compounds for screening to determine the lead compound and supply samples to aRigen.

Consequently, aRigen would arrange to conduct the pre-clinical and clinical studies. Matrix would also supply the active pharmaceutical ingredient (API) for the molecule/s under development.

Headquartered in Tokyo, aRigen Inc was founded in 2001 by a team of scientists with funding support of Japanese venture capitalists, institutional investors and foreign funds.
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Gulf Oil H1 turnover at Rs.200 crore
Kochi: The Gulf Oil Corporation has recorded a turnover of Rs200.68 crore in the half year-ending September, registering an increase of 12.84 per cent than in the previous year. The company has also posted a net profit of Rs12.25 crore in the first half-year, according to a press release issued here.

During the first quarter period ended June this year, Gulf Oil recorded a turnover of Rs105.93 crore and a net profit of Rs6.34 crore. For the year ended March this year, it recorded a turnover of Rs406 crore and a net profit of Rs22.91 crore, the release said.

The company has introduced an array of car care products, which are directly imported from Gulf South East Europe. The range comprises dashboard polish, glass and crystal cleaner, multi-functional fluid and multi-purpose grease for rotating surfaces.

The company has also recently ventured into a programme for automobile maintenance and servicing with a nationwide network of branded auto workshops. The company selectively identified and entered into agreements with reputed workshops meetings Gulf standards of quality and customer service for offering round-the-clock world-class preventive maintenance and service schedule for cars.
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Ten digit numbers for RIM subscribers
Hyderabad: Reliance Infocomm has completed the conversion of its mobile subscriber numbers to its 10-digit, 93-series in 17 out of the 20 circles. With this changeover, its mobile phone subscribers seamlessly move to this numbering from December 1. In tune with the regulatory requirement, the old numbers will no longer be functional.

Reliance IndiaMobile (RIM) phones across the country, except in U.P. and Bihar, have now been converted to 10-digit numbers beginning with 93. This has been done in keeping with the cellular mobile numbering plan in India under the new Unified Access License Regime. RIM subscribers dialling an old RIM number post November 30, will be advised the changed 93-number through a recorded message.
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Microsoft to expand existing facilities
Pune: Microsoft is gearing up to increase its presence in India and is considering the option of expanding its existing facilities in the Capital, Hyderabad and Bangalore or looking at newer locations such as Chennai, Kolkata or Pune, Microsoft Corporation India has said.

Meanwhile, the company has signed a MoU with the Maharashtra Government for Project Shiksha, an initiative that will train an estimated 8,000 teachers from government schools beginning 2005. The company is also gearing up to release a Marathi version of the Windows and MS Office package at more economical rates, it has said.

Project Shiksha will be done in collaboration with NIIT and aims at ensuring that the trained teachers will impart the training to an estimated 35 lakh students.
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ESI to invest $5 million in India over two years
Bangalore: The ESI group plans to invest $5 million on its India development centre and grow the operations to a 300-strong team over the next two years.

The company has formally inaugurated its Indian subsidiary, ESI Software India Pvt Ltd, here on Tuesday. The subsidiary was created in February this year, following the acquisition of EASi USA MCAE's intellectual property rights in September 2003. ESI Software India will focus on the development of software products for virtual simulation. It currently comprises 50 technologists.

According to ESI, there is a great demand for virtual simulation and virtual manufacturing software products and the digital simulation software products offered by ESI are generating business valued at $300,000 to $400,000 in India every year.
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Saama Tech to invest $5 million in India
New Delhi: Consulting and technology services company Saama Technologies Inc of the US has announced the opening of its software development and support centre in Pune, while earmarking an investment of over $5 million for its expansion plans in the country in the coming years.

The company also plans to have a headcount of over 250 by the next year, a company release said here.

Saama Technologies plans to invest $5 million over the next three years to increase offshore development and support activities, and expects to leverage its experience from offices in California and Pune to deliver greater value to its clients through the offshore services practice.

The company has focused expertise in providing business intelligence for enterprises and outsourcing services for software product companies. The India team works on all aspects of product development including development, testing and customer support for leading software products and solutions spanning enterprise systems, applications and databases.
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Wipro announces foray into modular furniture market
Bangalore: With the modular furniture market set to grow by 30 per cent, Wipro Consumer Care and Lighting, the FMCG division of Wipro Ltd, has announced the formal launch of its products.

Wipro Consumer Care & Lighting, have said that riding on the success of its commercial lighting business, they have now forayed into the furniture market. He said though the company entered the modular furniture market late, the emerging demand from the ITES sector has encouraged Wipro to tap the potential.

He said though the company would be sourcing the products from its captive vendors, Wipro would provide its own design and tooling in order to provide customised products to its customers in the ITES sector.
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