Indo Gulf Corp fixed March 13 record date for the scheme of arrangement between the company, Hindalco Industries Ltd and Indo Gulf Fertilisers Ltd.
The 18 companies sanctioned include Marshall Islands-registered Changtai Shipping and Motionavigations Limited and UAE-based Indo Gulf Ship Management.
In the wake of the tussle between the Birlas and Rajendra S Lodha over the will of Late Priyamvada Birla, chartered accountants firm Lodha & Company said it was not seeking re-appointment as auditors of Indo Gulf Fertilisers Ltd.
The main concern area, in the medium term, is with regard to the de-regulation of the gas prices and the consequent impact on the same on Indo Gulf's margins.
Indo Gulf Corporation Ltd has posted a net profit of Rs 1055.50 million for the quarter ended December 31, 2002 as compared to Rs 881.70 million in the quarter ended December 31, 2001.
Bharathi Sihag, joint secretary at the ministry of commerce of India, told Abu Dhabi's National newspaper that the date had almost been set: "We will be meeting very soon, next month or October." The FTA between India and Gulf Cooperation Council has been delayed, ever since the first round held in March 2006, due to administrative reasons as the same set of officials are involved in talks with EU and Korea over similar trade pacts.
Hindalco Industries Ltd okays merger of Indo Gulf Corporation Ltds copper business with the company.
Reliance Industries has served a notice for suspension of gas supplies to four fertiliser plants in Uttar Pradesh from Thursday unless they enhance their financial guarantees to cover for state sales tax.
The Gulf Cooperation Council countries -- Bharain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates -- present a lot of trade opportunities for India, he said. The Assocham has been promoting India as an investment destination for infrastructure, biotechnology, power, roads, IT and allied sectors. It has also created an Andhra Pradesh Investment Cell to attract investments to the state.
Says Make in India could only succeed with Make in UP, given large sized population and market the state offers
Close on the heels of Aditya Birla Group's restructuring move, its flagship Indian Rayon on Thursday said it will seek shareholders' nod to change its name to 'Aditya Birla Nuvo Ltd'. \nThe Rs 5,000 crore (Rs 50 billion) Aditya Birla Group had on Sep
Hindalco's market capitalisation became lumpier after a merger with group company Indo Gulf Corporation's copper business, but the scrip's value took a beating during the week.
Noting that farmers are suffering due to problems in the food supply chain, Congress Vice President Rahul Gandhi on Monday said there is a need for ensuring better compensation for the farmers against their produce.
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