Sunday, June 21, 1998
Kirloskar-Denso venture hits a roadblock over Subros move
The proposed joint venture between Denso Corporation of Japan and the Kirloskar group has run into rough weather with Denso's existing joint venture partner Subros Ltd putting a spanner in the proposal. The Lalit-Ramesh Suri controlled Subros, which manufacture automotive air-conditioning systems, has refused to release a no-objection certificate to Denso Kirloskar Industries Pvt Ltd, the proposed joint venture.
JT Mobiles in talks with Tata firm for sharing cell network
JT Mobiles Ltd is in talks with Tata Communications Ltd, the mobile phone operator in Andhra Pradesh, to share cellular backbone network on revenue sharing basis. Currently, Tata Communications has 22,000 subscribers and JT Mobiles some 20,000 subscribers in Andhra Pradesh. The deal once finalised, will help both the cellular companies to minimise their operational costs.
Eveready Industries sews up pact with consortium of bankers
Eveready Industries India Ltd has tied up with a consortium of bankers to spread the drawal of working capital and distribute its exposure. Eveready, a company in the Williamson Magor group of BM Khaitan, had been weighing the idea since McLeod Russel, a tea company in the same group, was merged into it.
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