Tuesday, September 8, 1998
Agarwals to go ahead with aluminium expansion plans
Sterlite Industries is set to forge ahead with its aluminium expansion plans despite the recent disappointment of an aborted bid to take over Indian Aluminium. It is expected to take a final decision on proceeding with a Rs 3,400-crore aluminium smelter unit in another three months.
Glaxo told to pay Rs 1 crore for drug 'over-charges'
The Mumbai high court has directed pharma major Glaxo India to deposit Rs 1.05 crore within two weeks in court for over-charging anti-ulcer drug formulation ranitidine between January 7, 1998, and February 18, 1998. The order, delivered last week, follows a writ petition filed by the company challenging price-fixation of ranitidine and its formulations under the provisions of the Drugs (Price Control) Order (DPCO), 1995.
Forbes Gokak optics division on block
Forbes Gokak, as part of a restructuring drive, has decided to put its optics division on the block and exit from the lens manufacturing business. In the process, the diversified Tatas-controlled firm has jettisoned hopes of tying up with Israeli firms to turn the division around.
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