The DGCA report, a copy of which is with Business Standard, stated that under the Madras high court direction, an inspection was carried out by a team headed by V K Arora, deputy director general, DGCA.
A prolonged cold spell in Europe and a rare conjunction of dates in China have combined to wilt the Valentine's Day hopes of rose cultivators in the Hosur region of Tamil Nadu. The two markets together account for 60 to 70 per cent of Hosur's supply, much of it crowded around Valentine's Day, on February 14.
Subhiksha Trading Services, the retail chain whose stores have been closed for more than a year for lack of money, is planning to reopen some through a franchise model, say sources.
The manufacturing facility is being set up at Oragadam, near this city. The company has planned to set up 55 dealerships by 2012. So far, the company has appointed 23 and plans to add seven more by the end of this financial year.
Political disturbance over the demand for a separate Telangana state is forcing information technology companies to shift. The process to shortlist office space in neighbouring states, like Tamil Nadu, is underway.
The Tiruchi unit of Bharat Heavy Electricals Ltd (BHEL) is considering four-five companies as candidates for acquisitions, its executive director, A V Krishnan, told Business Standard.
The popularity of the 'parallel banking service' continues to rise.
The high court in Chennai granted the owner of bharatmatrimony.com an interim order, restraining Google India from using its ads on the former's platform to sell space to the petitioner's competitors.
Latest in generational change trend in South Indian majors.
The company would focus only on expanding its existing facilities at an investment of around Rs 600 crore (Rs 6 billion), said S Gopalakrishnan, chief executive officer and managing director.
Neyveli Lignite Corporation Ltd is planning to invest Rs 10,000-12,000 crore in setting up power projects. It is also planning to foray into renewable energy, by setting up wind energy farms and solar units.
The Chennai facility will continue to service Indian and non-European markets. In July 2009, Hyundai India's managing director H S Lheem had said the company was planning to move production to Turkey, the Czech Republic or Slovakia.
Lakshmi Venu's induction on Sundaram Clayton's board is part of the TVS Group's larger succession plan to make way for the women in the family.
According to the Society of Indian Automobile Manufacturers' (Siam's) data, Ford India between April and June produced 6,752 cars, of which 219 units were exported, through containers in different shipments.
The Chennai-based retail chain ran out of money several months earlier and has suspended operations since then. Subhiksha's founder-promoter, R Subramanian, said he was optimistic of a settlement and early resumption of operations.
The earlier deadline given for a Corporate Debt Restructuring scheme was July 31. According a senior counsel who is close to the development, Cash and Carry has requested for a meeting with secured and unsecured creditors to work out the compromise. C&C was a firm promoted by R Subramanian, promoter and managing director of Subhiksha. Subramanian was not available for a comment and he did not respond to an e-mail sent by Business Standard.
Projects worth over Rs 70,000 crore (Rs 700 billion) to upgrade technology have been kickstarted in the country.
Investment by PEs into HLS sector dropped to $203 million in 2008-09 from $836 million in 2007-08, while the number of deals dropped 51 per cent to 21 from 43 deals. Similarly, VC investments also declined to $48 million from $80 million. In terms of deals, they dropped to 11 from 14.
The former unit produces motor tyres and tubes, while the latter makes radial tyres. Union sources said employees also decided to boycott the coming Lok Sabha elections. A meeting on Monday between management and union heads saw no settlement.
The 17-day strike by workers at Hyundai Motor India's Sriperumbudur factory ended after a meeting of workers' representatives, the company management and the labour board in Chennai.
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