Saturday, July 24, 1999
Crompton Greaves to be split into three firms
Crompton Greaves will be split into three separate entities -- one for power and industrial systems, the other for consumer products and the third for digital systems. The board has given its in-principle approval and the entire exercise will be completed in 12-15 months.
VSNL may put public issue plan on hold
VSNL is likely to put on hold its proposed capital float. The company will not be able to tap the domestic retail market before elections as the Election Commission (EC) has reportedly raised objections to it, industry sources said.
Pan Parag's Kothari brothers split; Deepak buys out Vikram
Kothari brothers -- Deepak and Vikram -- of Pan Parag pan masala and Rotomac pens fame have decided to part ways. Deepak Kothari has bought out Vikram Kothari's 22.5% equity stake in flagship Kothari Products for an undisclosed amount.
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