Friday, October 16, 1998
Economists likely to concoct revival potion for industry by next month
There was a broad consensus between the government and the economists at the first meeting of the prime minister's economic advisory council on Thursday that the fiscal deficit be reduced and the government pursue a transparent and more active policy on public sector divestment. The council also discussed steps to revive investments, both domestic and foreign.
Pond's India, Hindustan Lever merger plan formalised
The merger of Pond's (India) with Hindustan Lever (HLL) was accomplished on Thursday, with retrospective effect from January 1, 1998, the appointed merger date under the scheme of amalgamation. Hindustan Lever, on Thursday, filed with the Registrar of Companies (RoC), Maharashtra, the drawn up order of the Mumbai high court, over four weeks after the court approved the amalgamation on September 10, 1998.
Apar to merge with Gujarat Apar Polymers; plans trust to plug odd-lot problem
Apar Ltd, which is a closely held company belonging to Narendra Desai and family, is being merged with the group's listed company Gujarat Apar Polymers Ltd (GAPL). The merger envisages that GAPL's equity capital of Rs 25.95 crore will be restructured.
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