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Saturday, May 2, 1998

	Indian Oil emerges sole buyer for centre's equity in Lubrizol India The Indian Oil Corporation (IOC) has emerged as the sole contender to buy out the centre's holding in Lubrizol India. At present, the company is a 60:40 joint venture between the government of India and Lubrizol Corporation of the US. Once the deal is finalised, both IOC and Lubrizol will hold 50% equity each in the company.		JCT set to unveil fresh debt-restructuring plan JCT Ltd will submit a fresh debt-restructuring plan within the next four weeks to the consortium of financial institutions and banks led by the Industrial Finance Corporation of India (IFCI) and Allahabad Bank. JCT Ltd joint managing director Samir Thapar said the restructuring plan would primarily depend on the amount that the company can raise from the sale of its steel division and grey-textile division.
	Stringent RBI measures force Lalbhais to sell Anagram Finance stake to ICICI The much-talked about divestment plans by Sanjay Lalbhai from Anagram Finance, finally seems to have seen the light of the day with the ICICI reportedly planning to buy out the promoter's 37.20% stake in the company. Though the exact price for the takeover has yet to be finalised, the current market price of Rs 20.50 indicates the total sell-off amount would be around Rs 20 crore.		Mahindras in talks with Ford to buy back stake in joint venture Mahindra and Mahindra (M&M) is talking with Ford Motor Company for buying back equity in their joint venture Mahindra Ford India Ltd (MFIL), its managing director Anand Mahindra said.

Hind Motors plans to raise Rs 54 cr for modernisation
Hindustan Motors Ltd is contemplating to raise Rs 54 crore to fund its ongoing modernisation, upgradation and expansion plans at its various divisions. The board, G P Birla group, has proposed to raise this by issuing ordinary shares and/or fully convertible debentures, thereby increasing the authorised share capital from Rs 160 crore to Rs 220 crore.

Rossell turnover spurts to Rs 94 cr, profit at Rs 9 cr
YK Modi's tea company Rossell Industries Ltd declared a 15 per cent dividend for the 15-month accounting period to December 31, 1997. The company skipped dividend in the last accounting period of 18 months to September 30, 1997.

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