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Executive Briefing
Indian Hotels puts Radisson deal on back burner
Indian Hotels Company Ltd is understood to have put the proposed acquisition of Chennai-based Radisson Hotels on the back burner. According to sources, although the due diligence has already been done and the deal has been valued at around Rs 48 crore, it has run into some "technical hitches." The acquisition was proposed to be carried out through Oriental Hotels, a leading hotel chain of the Tatas, which would have held the controlling stake in Radisson. Page 5 Glaxo India, Merial extend marketing pactGlaxo India has extended its marketing alliance with Merial, the world's leading animal health company, to include the global anti-rabies vaccine, Rabisin. Glaxo India is a market leader in the veterinary products business and this activity falls under the Agrivet Farm Care umbrella within the company. New provisions on transfer pricing
Adopting a new approach in its anti-tax avoidance measures, the government has decided to put the onus of proving charges of transfer pricing on the assessing officer. Companies charged with such irregularity will not be required to furnish proof to defend themselves, according to revenue secretary S Narayanan. New performance indices to judge prosperity likely
The government may consider evolving new performance indices to judge the country's prosperity. The Prime Minister's task force for developing a knowledge-based society, which is to submit its report this month, has observed that existing performance indices, including GDP and import-export ratio, is not adequate to judge the nation's performance. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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