Wednesday, January 20, 1999
SEBI against Autoriders plan to take over Saurashtra Cements
After dilly-dallying for more than a year, the Securities and Exchange Board of India (SEBI) has ruled against the takeover attempt by the Autoriders group on Saurashtra Cement. Simultaneously, SEBI has asked the Mehtas, the current promoters of Saurashtra Cement, to make an open offer to the shareholders of the company.
ICL board okays RCL cement unit acquisition
The India Cements board on Tuesday approved the takeover of Raasi Cement's cement division. They have also cleared the hiving off of the shipping division of India Cements into a separate company, ICL Shipping.
MoF may monetise gold for core funding
The Union finance ministry is keen on monetisation of at least a part of the country's 12,000 tonne idle gold reserves through the gold deposit schemes of commercial banks. The monetisation of gold will go a long way in funding the infrastructure projects, feel the North Block mandarins.
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