Friday, September 11, 1998
Air India unveils VRS offers,plans three-day week
The loss-making national carrier, Air India, has formulated two voluntary- retirement schemes for its 18,000 employees in a bid to trim its wage bill. At its recent meeting, discussed two schemes --leave without pay, allowances, productivity-linked incentive and shorter working week scheme. It is open to all category of employees except pilots and flight engineers.
Tayals pick up 13% in Bank of Rajasthan
The Tayals of the cash-rich Shree Krishna Polyester and Shree Krishna Petroyarns group are believed to have picked up sizable equity in cash-strapped Bank of Rajasthan from the Calcutta-based Bangurs. The Bangurs, who till recently held a 64 per cent stake in the bank, are believed to have offloaded around 13 per cent of their stake to the Mumbai-based Tayals at around Rs 50 crore.
Hindalco move sparks posers over LMI holding
The proposed takeover of India Foils Ltd by Hindalco Industries has added to the confusion over the stake held by the former in group company Light Metal Industries (LMI) before LMI's merger with India Foils earlier this year. After LMI's merger with India Foils, the enhanced stake of 8.85 per cent or 15.35 lakh shares was being held by a trustee board, which can dispose of the shares only after completion of 18 months of the merger.
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