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Thursday, July 10 1997
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Indian Organic to recast debt![[Details]](/icons/bullet.gif){kind=icon}
Indian Organic Chemicals has drawn up a major restructuring plan in an attempt to transform itself into a tighter, leaner and profitable organisation to bail out of debt liabilties.
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Graded freedom for finance companies likely
The Reserve Bank of India is in the process of adopting a five-pronged strategy to grant freedom to non-banking finance companies on the basis of their ratings. The plan is based on the Khanna Committee recommendations.
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Escorts to hive off absorbers division to venture
Escorts plans to hive off its automotive shock absorber activities to an independent company, which will be a joint venture with Companhia Fabricadora de Pecas (COFAP) of Brazil.
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The Group
