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Drumbeat: Ad Buzzaar

Corporate

Tuesday, May 19, 1998

	Mysore Paper Mills plans Rs 80-crore investment to double sugar production The Mysore Paper Mills Ltd (MPM) has embarked on a corporate plan which, among others, envisages increasing sugar production. Under the proposal, the state-owned company will invest around Rs 80 crore over a period of two years.		Metal Box blames AAFIR for giving in to union, delaying revival plan Metal Box has blamed the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) for giving in to pressures from trade unions and delaying the company's revival package.
	Mysore Cements posts net loss of Rs 48 crore Mysore Cements has reported a net loss of Rs 47.66 crore for the twelve months ending March 31, 1998, against a net loss of Rs 14.16 crore registered during the corresponding period in the previous fiscal.		BIFR declares Ucal Power sick, asks IDBI to review revival chances The Chennai-based Ucal Power Systems Ltd (UPSL) has been declared sick by the Board for Industrial and Financial Reconstruction (BIFR). The board has appointed Industrial Development Bank of India (IDBI) as the operating agency (OA) and asked it to prepare a viability report for the revival of Ucal Power.

Bilt to bear brunt of Pioneer India's Rs 66-crore losses
LM Thapar-promoted Ballarpur Industries (Bilt) has decided to take the entire loss incurred by Pioneer India Ltd on its books. The accumulated loss of Pioneer Ltd over the last seven years has been approximately Rs 66 crore, part of which has been already shown on Bilt balance-sheets.

PFC $100-million loan syndication may bomb
The Power Finance Corporation's $100-million loan syndication may face a blackout following the changed risk perception on India after the nuclear tests.

Peter Harrison appointed as advisor to Bombay Dyeing
EID Parry net up 28% to Rs 38 crore on cost-cuts
SAIL needs financial revamp to tap funds in Ninth Plan
Corporate Briefing
BIFR grants 6-month protection to `sick' Real Value Appliances
Marketplace Briefing
Welspun India commissions new terry towel facility
Seagram close to PolyGram deal
Pearson and Hicks, Muse buy Viacom unit
Will continue to seek settlement, says Bill Gates
Fortis bids for rest of Generale Bank shares
Kalyani Steels set to sew up venture with US firm; to spin off Mundhwa facility
Hindustan Petroleum board recast on the cards
Pfizer expresses concern over local industry's interest in Viagra molecule
Open-offer diktat on Bharti Telecom leaves Sivasankaran sans exit option
Tata's `Technopolis Knowledgepark' proves a hit