The Indian Express
The Financial Express
Latest News
Market Indicators
Screen
Boulevard India
Celebrity Chat
Express Computers
Express Power
Letters
Advertisers Forum
Headstart
Business Forum
Lifemate
Zevraat
Columnists
Express Properties
Palki - Travel
Information Technology
Astrosurf
Eco-India
Dr Know
Morning Digest
Express Greetings
Graffiti
Cartoon
|
| |
Thursday, December 24, 1998
Philips union sees flaw in deal
ENS ECONOMIC BUREAU
CALCUTTA, DEC 23: The employees of Philips India Ltd have identified major discrepancies in the proposed deal between the company and Kitchen Appliances India Ltd, a nominee of Videocon International Ltd.At a press conference on Wednesday, Philips Employees Union president (Mumbai) Kiron Mehta said according to the documents submitted by the company to the Calcutta high court, Videocon is paying Rs 9 crore for buying Rs 21 crore worth of liability. "Philips has stated that the value of the Salt Lake unit is Rs 28 crore and liability of the employees is Rs 21 crore. So, we can say that Videocon is paying Rs 9 crore to buy a Rs 21-crore liability,''.he said. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
Top
|
|
|
Printer-friendly page |
|
