The Financial Express -- Corporate

Thursday, October 2 1997

Centurion Bank to go ahead with public issue plan

Centurion Bank, which has burnt its fingers in the Rs 12.35 crore accommodation bill scam and recorded its first-ever NPA in its three year operations, plans to go ahead with its public issue plan. The bank has received the go-ahead from its overseas promoters -- Asain Development Bank, ADB Manilla and Cappel Bank of Singapore. The timing of the issue is to be decided by the management.

Kirloskar Oil to spin off engine valves business into joint venture

Kirloskar Oil Engines (KOEL) will spin off its engine valves business into a joint venture with MWP, the wholly owned subsidiary of Mahle of Germany by April 1998. Although the equity capital is still to be decided, it is likely that it would be a 50:50 venture.

Ministry sticks to guns over RINL chief selection method

Steel secretary Ashok Basu yesterday ruled out the possibility of conducting a fresh interview for selecting a candidate for the post of chairman and managing director (CMD) of the public sector Rashtriya Ispat Nigam (RINL). The ministry has empanelled two people for the post of CMD of RINL; the panel to be valid for one year.

Centurion Bank suspends 4 executives, to revamp bill-discounting norms

Glaxo buys out Biddle Sawyer group

SBI pares growth target for advances, rules out cut in interest rates

SAIL finished-steel sales spurt 11% in first half

4 AV Birla group overseas firms chip in Rs 178 cr for Bina power project

Hindalco increases aluminium price by Rs 3,000 a tonne, others may follow suit

LIC resents Chhabria bid to hike Mather & Platt stake via preferential issue

Eicher to invest Rs 400cr in two years on tractors, two-wheelers

Month's time for Centre to file Maruti arbitration reply

Pune property scene still depressed

Ministry sticks to guns over RINL chief selection method

ONGC, Oil India combined output up 4%