Wednesday, September 2, 1998
Sebi set to pronounce verdict on Raju offer for Vishnu Cements
The Securities and Exchange Board of India (Sebi) will pronounce its order on whether or not BV Raju can go ahead with his open offer for acquiring another 20% in Shree Vishnu Cements by September 7. Sources, however, pointout that the current open offer by Raju may be allowed to go through as it may not be legally tenable to debar an entity from making an open offer which by itself appears legally correct.
Import of oilseeds unlikely to ease prices
Edible oil prices in the country are unlikely to ease immediately despite government's decision last week to allow import of select oilseeds like split soyabean and sunflower under open general licence (OGL), according to industry experts. The government, in an effort to rein in prices of edible oil, has decided to allow import of oilseeds under OGL, which will facilitate shipments into the country without any restrictions by a license holder.
Ordinance likely to regulate plantation firms
The government is considering issuing an ordinance to enable stricter enforcement of mobilisations by plantation companies. The ordinance will seek to empower the regulator to freeze the assets of a plantation company as well as have its nominees on the management of these companies to facilitate recovery of investor deposits in the event of a default by these companies.
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