Both the subsidiaries of Ranbaxy
Laboratories — Vorin Laboratories Ltd and Oscar Investments
Ltd — have proposed to increase their stake in the sick Hyderabad-based
bulk drug manufacturer, Fine Drugs and Chemicals Ltd by making
open offer to the existing shareholders.
The recent decision by the
board of Sierra Optima Ltd to delist the shares from NSE, BSE
and HSE has heightened the chances of the US parent company
and the main promoter Sierra Atlantic Inc to take control at
the Indian outfit.
Netfinex.com Ltd, a high profile
venture that had aimed to transform the way in which financial
products and services are being peddled to retail customers
in the country, has failed to get its feet off the ground and
the project has been put in cold storage.
The Caparo Group of Industries’
chairman Lord Swraj Paul on Friday reiterated his stand that
he was opposed to Indian government’s policy of guaranteed returns
of investment especially in the power sector.
