Wednesday, September 23, 1998
Janakiraman may supersede Vaidya at State Bank
The deputy managing director and chief credit officer of State Bank of India (SBI), V Janakiraman, is tipped to become the next chairman of the country's largest commercial bank, superseding GG Vaidya, the strongest contender for the post. Present SBI chairman MS Verma retires on November 30.
Bombay Dyeing plans "taxable retirement plan" at Patalganga
Bombay Dyeing, the largest bulk producer of dimethyl terephthalate (DMT), in a bid to fight rising costs, is drawing up a taxable retirement scheme for about 350 employees at its Patalganga plant in Maharashtra, including managerial staff below Grade III.
Receiver values PAL-Peugeot inventory
The fate of PAL-Peugeot will be decided in the next fortnight when the Mumbai high court takes up the case filed by Standard Chartered Bank for recovery of its dues amounting to nearly Rs 40 crore. A receiver appointed by the Mumbai high court has done a valuation of the company's inventories and book debts which will be liquidated, if necessary, to square the outstandings with StanChart.
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