T.T. Vasu of the TTK group passes away
Chennai: T.T. Vasu, industrialist, passed away after a brief illness on Wednesday. He was 76. Vasu was the last of the four sons of former Finance Minister T.T. Krishnamachari.

During the 1950s and 1960s Vasu was responsible for much of the implementation of the TTK group's industrialization, being instrumental in setting up several of its factories in Bangalore and Chennai.

Besides being a Director of the TTK group, Vasu was the Chairman of the ITC Park Sheraton Hotel & Towers, Chennai; Bhima's Residency Hotel, Tirupati; The Madras Voluntary Blood Bank; and the Indo-Japan Centre.

Vasu was also a member of the Executive Council of the Indo-American Chamber of Commerce, Chennai and past National President of the Chamber.
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Vinod Garg in new CMD of PFC
New Delhi: Dr Vinod Kumar Garg on Wednesday assumed charge as Chairman and Managing Director of Power Finance Corporation Ltd (PFC).

Prior to joining PFC, Dr Garg was the Director (Finance) of Power Grid Corporation of India Ltd from September 1997 to May 2005.

He has also served in ONGC as the Deputy General Manager (Finance) and General Manager (Finance) and in Indian Investment Centre, Finance Ministry and the Industry Ministry in various capacities, an official release said.

Dr Garg takes over from Arvind Jadhav, who has been officiating as CMD since February 2005.
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FDA chief Ramakrishnan transferred in reshuffle
Mumbai: The Maharashtra Food and Drug Administration (FDA) Commissioner, A. Ramakrishnan, has been transferred as part of a bureaucratic shuffle in the State, without being assigned a new posting. The new man at the helm of the FDA is Ramesh kumar, Principal Secretary, Tribal Development.

The FDA Commissioner's transfer assumes significance, since he had in the recent past spearheaded a hi-decibel campaign to bring in more transparency into the labelling of baby oils. The big and popular players in the estimated Rs200-crore baby segment, including Johnson & Johnson, Himalaya, Wipro, Emami and Dabur had been sent notices in the month-long campaign over the ingredients in their baby oils.

The FDA's contention was that most baby oils in the market contained mineral oil, reported to be unsafe for babies. Only recently, the FDA came out with its statement on the issue, asking J&J to get the regulator Drug Controller General of India's approval for its baby oil.

The company has been given time till August and in the event of this deadline being missed, the company has been directed to drop "baby" from its label.
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