The Financial Express -- Corporate

Sunday, November 23 1997

Short-term credit crunch may force Yamaichi Securities to close shop

Yamaichi Securities, one of Japan's top brokerages, declared yesterday it may shut its doors after 100 years in business, as it faced a short-term credit crunch, shrinking business and high-profile scandals. Options for the beleaguered Yamaichi narrowed considerably after its main creditor Fuji Bank refused to take responsibility for rescuing the company.

Income-tax raids Pearl group offices, directors' homes

In a major crackdown on the Delhi-based Pearl group, the income-tax department conducted country-wide raids on the group's offices and residences of some of its directors. The raids were conducted at over 40 premises of a number of companies belonging to the group including Pearl Global and Pearl Polymers.

NGEF to issue Rs 50 crore bonds

NGEF plans to raise Rs 50 crore through a bond issue, to hit the market next month, in order to meet its working capital requirements and liabilities. Earlier, the Karnataka government had approved the company's intention to mop up funds to exit the Board for Industrial and Financial Reconstruction (BIFR) net.

Peugeot move leaves industry dumbstruck

Is prudence mandatory? Shriram group says no

More autonomy for LIC, GIC, says Chidambaram

Nirma's book-built issue in choppy waters

Corporate Briefing -- Enron Oil seeks Tapti consortium approval

Mecklai Financial in strategic alliance with Billiton Metals

How to win friends and influence customers, the Maruti Udyog

NGEF to issue Rs 50 crore bonds

Income-tax raids Pearl group offices, directors' homes

Separate agency for textile mills land deals sought

Short-term credit crunch may force Yamaichi Securities to close shop

Coca Cola bottler to spend $200mn in Latin America

Microsoft grants software amnesty to Philippines

Growing multinational interest to spur shakeout in drug industry

World Briefing -- Acer plans "XCs," appliances at $200