Thursday, July 2, 1998
BK Modi group in talks with foreign firms to revive ailing spark-plug unit
The BK Modi group is negotiating with global spark-plug majors -- NGK and Finn -- in a last-ditch attempt to revive its ailing venture, Spark Plug Company (I). On this basis, the promoters of the erstwhile Modi Champion have opposed the Board for Industrial and Financial Reconstruction's (BIFR) intention to wind up the company and managed to get more time.
BHEL plans joint venture with NTPC for Orissa power plan
Bharat Heavy Electricals Ltd (BHEL) plans to enter into a joint venture with the National Thermal Power Corporation (NTPC) for setting up a 500 mw power project in Orissa. The two public-sector units are also planning to float a subsidiary to put up major power projects in the country.
NSL amalgamated with Pennar Steels
The amalgamation of NSL Ltd of Nagarjuna group with Pennar Steels Ltd (PSL) has been complete as on April 27, 1998. The scheme of amalgamation has been approved by the Andhra Pradesh high court. Meanwhile, the company has filed its papers with the Registrar of Company.
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