Saturday, September 12, 1998
AT Kearney to aid Rashtriya Ispat recast
Rashtriya Ispat Nigam Ltd (RINL) has roped in US management consultants AT Kearney and public-sector steel consultants Mecon to work out an organisational revamp for the country's only shore-based integrated steel plant, recently bailed out by the centre from going red.
Cochin Refineries Balmer Lawrie to merge with CRL
The board of directors of Cochin Refineries Ltd (CRL) has proposed the merger of Cochin Refineries Balmer Lawrie (CRBL) with CRL at a tentative swap ratio of 1:26 (one CRL share of Rs 10 each for every 26 CRBL shares of Rs 10 each held). Cochin Refinery Balmer Lawrie is a joint venture between the Calcutta-based Balmer Lawrie and the Ernakulam-based Cochin Refineries.
Tejoomals group defaults on Rs 28 cr bank loans
The Tejoomals group, once market leaders in the shoe export business, has defaulted on bank loans amounting to nearly Rs 28 crore. While Vijaya Bank has lodged a claim against the company for recovery of Rs 8.93 crore, Canara Bank has reported a default by the company amounting to Rs 11.53 crore.
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