This is in the backdrop of the arrest of R Vasudevan, the seniormost CLB member, on November 24. This has left the board with just two members to hear the pending cases that run into thousands.
Because of oversupply and rising vacancy levels in cities such as Delhi, Mumbai, Bangalore, among others, rentals are expected to remain stagnant in the next six months or see a further fall of 10-15 per cent.
Ranbaxy, originally promoted by the Singh family, was acquired by Japan's Daiichi Sankyo late last year.
The growing margins suggest that the belt tightening is paying off. For example, the margins of Pantaloon Retail, the country's largest listed retailer, have gone up from 9.2 per cent in June last year to 10.6 per cent in June 2009.Others such as the Raheja-owned Shoppers Stop and Tata Group's Trent, Reliance Retail and Spencer's Retail aren't far behind.
The IPA complaint turns significant in the backdrop of increasing talk about foreign companies buying into Dr Reddy's, Piramal Healthcare and Aurobindo.
Sales grew only 5-10% last year on weak consumer sentiments
Institute of Chartered Accountants of India has sought broad-ranging information about the association of its member institutions with foreign auditing firms.The move assumes significance following the accountancy fraud by the promoters of Satyam Computers that brought the role of auditors under scrutiny. The auditors concerned were associate firms of international auditing entity PricewaterHouseCoopers.
After a year of slow growth, apparel maker and retailer Provogue is reworking its business strategy to boost revenues and prop up margins, a top company executive said.
Q3 will be better than the second, say bankers and builders.
There are three Price Waterhouse firms and four Price Waterhouse & Co firms in PriceWaterhousCoopers' network of firms in India. Each firm is a separate partnership firm, with a maximum of 20 partners each, with head offices in the cities in which they are registered. Each of these is registered with ICAI. The Pricewater House registered in Bangalore had audited Satyam.
Last week, banks were asked to factor in the loans extended to a group -- comprising subsidiaries, special purpose vehicles and related parties of a real estate company -- 'as a matter of prudence'.
Although India is the second largest generator of environment-friendly projects, domestic firms, public and private, are shying away from maximising the monetary benefits derived from such carbon emission reductions. The country, which is second only to China in terms of generating of carbon credits through the introduction of low polluting technologies, ranks very low when it comes to encashing of these credits through carbon trading.
The government had removed all directors related to the Raju family from the board of Satyam before it was handed to the Mahindra group.
In a victory for Indian drug companies, patent protection has been refused to Tenofovir, an anti-AIDS medicine of the US-based Gilead Sciences. The decision was taken by the patent office in New Delhi.
No other state has issued a similar order banning new licences to medical shops.
The move signals that the ministry has begun to take a tough stand on environmental clearances in ecologically sensitive areas.
Washington-based Pharmaceutical Research and Manufacturers of America (PhRMA), the representative body of US-based drug firms, has said it does not support the seizure of legitimate generic medicines meant for developing country destinations.
Carlos M Correa of Brazil, a patent expert of international repute whose views have been widely quoted by the Mashelkar committee to support its conclusions, has complained of 'misinterpretation' of some quotes from a published article titled 'Integrating Public Health Concerns into Patent Legislation in Developing Countries'.
According to sources close to the development, the ministry feels that the National Textile Corporation (NTC), which has put the land on sale, will get better prices than the bid put in by Lodha Developers. The company, which had initially placed a bid of Rs 657.90 crore (Rs 6.57 billion), later hiked it to Rs 710 crore (Rs 7.1 billion), following a request from NTC.
Prices of agricultural commodities have risen 23 per cent so far this month.
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