Ashok Chand Burman, the 82-year-old patriarch of the family and chairman of fast moving consumer goods (FMCG) major Dabur Ltd, died on Saturday while on vacation in London, He was instrumental in fundamentally transforming a mid-rung ayurveda company firm into a FMCG major.
The long battle between ITC and its one-time trading partner, the Chitalias, has shifted to India. ITC has filed a suit in the Indian courts to recover assets it says the two brothers have in the country.
The company is looking to triple its FMCG turnover from Rs 5,000 crore (Rs 50 billion) to Rs 15,000 crore (Rs 150 billion) in the next five years.
The loans are backed by a government guarantee.
The government has till now injected Rs 2,000-crore (Rs 20-billion) fresh equity into the airline.
The average revenue per user (ARPU) of the country's four new GSM operators who got licences in 2008 - Uninor, S-Tel, Videocon and Etisalat DB - was between Rs 8.50 and Rs 39 in the January-March quarter.
Six metros in which FDI in multi-brand retailing will be permitted are Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad.
The department is planning a complete overhaul of the archaic Indian Telegraph Act.
The idea is to reduce capital investments and improve profitability.
'It can be used to build three-wheelers, vans, too'
Group to enter education, invest `100 cr to begin with.
Will operate in all airports except those in Hyderabad, Bangalore and Delhi
AIR India's turnaround plan, which has been reviewed by consulting firm Deloitte and accepted by the airline's board, says the company will start making operating profit from this financial year itself. Air India has been running under losses since 2007.
Kapil Sibal, telecom minister, said many companies borrowed heavily to pay for 3G licences late last year. These companies were now facing difficulty in raising resources for the business, upsetting the calculations they had made while bidding aggressively for the licences, he said.
The cap of 25% on sales to group companies likely to be removed.
Telcos such as Loop, Etisalat and Videocon have done little to churn the subscriber base.
A memorandum of understanding between the defence and telecom ministries for vacation of spectrum was signed two years ago.
The plan includes expanding the number of flights of AI Express from 204 a week to over 250 a week with a new thrust on West Asia.
The Japanese giant will also consider increasing its capacity, which could mean a new plant or expansion of existing units, after its ongoing expansion to 500,000 vehicles is completed in phases.
The note recommends allowing FDI in domestic firms through the issue of partly-paid up shares and convertible warrants, but with certain riders.
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