A Bombay High Court division bench on Wednesday fixed the date of the next hearing on the writ petition in the Bajaj Auto-workers union dispute to April 25, 2014. Though scheduled for Wednesday, the case could not be heard. So, upon the Bajaj Auto counsels request to consider it as priority, the court fixed Friday as the date of the next hearing. The writ petition is being heard by the HC division bench comprising Justice Anoop V Mohta and Justice MS Sonak. Bajaj Auto had approached the court challenging the termination of the wage agreement by the union in March 2013 as unlawful.
Crisil rates two DLF NCDs AA(SO)/Stable
Ratings agency Crisil has assigned AA(SO)/Stable rating to Indias first commercial mortgage-backed securities (CMBS) issued as non-convertible debentures (NCDs) of R900 crore by DLF Emporio and DLF Promenade, the step-down subsidiaries of DLF that operate two malls in south Delhi. CMBS is a completely new fund-raising avenue for the real estate sector and its advantages are that funds available with the issuer during the tenure of the instrument are higher than lease rental-discounting loans from banks, where principal repayment is amortised whereas CMBS will typically have a bullet repayment.
Indiabulls Real Estate net falls 20% to R41.6 crore
Indiabulls Real Estate's consolidated net profit fell by a sharp 20% to R41.6 crore for the fourth quarter ended March 31, 2014 against the corresponding quarter last year. Total income fell nearly 27% to R327.6 crore in the fourth quarter. For the full year ended March 31, 2014, the group's consolidated net profit increased 28.7% to around R224 crore while consolidated total income increased 33.5% to R1,736 crore.
Wockhardt to appeal against HP ban on 3 drugs
Wockhardt said on Wednesday that the State Drug Controller, Himachal Pradesh, had suspended the manufacture, sale or distribution of three painkillers: dicyclomine hydrochloride IP 10 mg, tramadol hydrochloride IP 50 mg and acetamenophen IP 325 mg. The Mumbai-based company said it is filing an appeal with the state government to get the suspension revoked.
Best-selling 125cc bike in India: Honda CB Shine
Honda Motorcycle & Scooter India (HMSI) said its 125 cc motorcycle CB Shine has become the country highest selling model and the first ever to reach the 30-lakh-unit sales mark. The bike also became Honda Motor Company number one selling motorcycle across its two-wheeler operations worldwide for the first time. "CB Shine is not only number one selling 125cc motorcycle in India but also the world. For the first time ending FY14, CB Shine has become number one selling motorcycle for Honda Motor Company, Japan worldwide," HMSI president and CEO Keita Muramatsu said.
Lupin enters into JV with Japans Yoshindo
Drug major Lupin has entered into a joint venture pact with Toyama-based Yoshindo to form a new entity that will develop as well as obtain marketing access for products in Japan. The joint venture entity YL Biologics (YLB) will be jointly managed by both partners and will be responsible for conducting clinical development of certain biosimilars, including regulatory filings and obtaining marketing authorisations in Japan, Lupin said in a statement. As part of the arrangement between the two firms, YLB will in-license Monoclonal Antibodies (mAbs) from Lupin and also partner other companies across the globe for the Japanese market.
Dr Reddys Labs launches lipid-control drug in US
Pharma major Dr Reddys Laboratories said it has launched Fenofibrate capsules, a therapeutic generic of Antara capsules, in the US market. The drug, which is indicated to reduce cholesterol and triglycerides (fatty acids) in blood, was approved by the United States Food & Drug Administration (USFDA), DRL said in a statement. The Antara (fenofibrate) capsules brand and generic had US sales of approximately $74 million MAT for the most recent twelve months ending in February 2014, according to IMS Health.
Amazons platforms for traders to self-register
E-commerce giant Amazon, which has been consolidating its position in the country ever since its launch here in June 2013, has launched two new capabilities to let Indian traders self-register on the Amazon marketplace and start selling within a day without any third-party intervention.
In a release on Wednesday, Amazon announced the launch of Self Service registration (SSR) and Amazon Easy Ship. While the former provides sellers an accelerated and fiction free path to selling on Amazon, Easy Ship gives them an opportunity to leverage Amazon's logistics offerings and have their orders shipped straight from their own warehouses.