CBI arrests Lan Eseda chief Shyam Bhatia
Lan Eseda Industries chairman and former Orson Electronics managing director Shyam Bhatia was arrested by the Central Bureau of Investigation (CBI) on Friday after the principal sessions court rejected his anticipatory bail application. Bhatia, who is also an associate of Manu Chhabria, is wanted in the Rs 20.84-crore Bank of Maharashtra fraud case, in which several officers of the bank are also accused.
Panel to frame takeover response norms for FIs
Financial institutions are planning to chalk out a joint strategy in the face of increasing takeover threats -- hostile or otherwise. They are setting up an inter-institutional committee in the next few days to frame guidelines for a collective response to takeovers.
IL&FS, Cooper & Lybrand may be consultants to Power Trading
Cooper & Lybrand of UK and Infrastructure Leasing and Financial Services (IL&FS) are being considered for appointment as consultants by the government for setting up of the proposed Power Trading Corporation (PTC).
DoT yet to put dot on suitable technology to connect villages
The Department of Telecommunications is still looking for an appropriate technology for providing telephones to over 3,00,000 villages, with its target of connecting all villages by the end of the Eighth Plan getting extended by another five years. DoT had, till January 1998, connected only 2,78,441 villages out of a total of 6,03,906 under the village public telephone scheme.
Coca-Cola shrugs off slow start, targets 20% growth
Coca-Cola India has targeted a 20 per cent growth in volume sales in the current calender year against a nominal 5 per cent growth in 1997. The major plank will be to strengthen the distribution network, an aggressive advertising campaign and focus on domestic brands such as Limca and Thums Up which were acquired from Parle group.
Hyundai Motor in pact with Essar Steel to source HR coils for Santro
Hyundai Motor India, the wholly-owned subsidiary of the Korean automaker, has entered into an arrangement with Essar Steel for sourcing hot-rolled (HR) coils and sheets. These will be used for Hyundai's small car, Santro, scheduled to hit the roads by the year-end. The two parties are also exploring options for the supply of cold-rolled (CR) coils and sheets.
