The Board for Industrial and Financial Reconstruction (BIFR) has sanctioned a Rs 33.94 crore revival package for the sick company Tamil Nadu Industrial Explosives Ltd (TIEL) and appointed Industrial Development Bank of India (IDBI) as the monitoring agency. The revival scheme sanctioned by a three-member bench of the board includes one-time settlement (OTS) of Rs 33.94 crore comprising repayment of principal term loan of Rs 30 crore and balance as interest. The board also approved the expansion project of tiel, to set up an emulsion explosive unit at a project cost of rs 14.50 crore to be financed through internal accruals.

CTV sales jump

The colour television (CTV) industry witnessed a boom last month with more than five lakh sets being sold across the country, thanks to the World Cup cricket. Latest figures show the industry registered a 40 per cent growth in May compared to sales in April. For the first time, experts say, the total CTV sales in1999-2000 are likely to exceed 50 lakh units compared to 37.5 lakh last year. The most dramatic jump has been for models priced below Rs 13,000 -- basically those in 14-inch and 21-inch categories, said KS Raman, president of the Consumer Electronics and Television Manufacturers Association (Cetma).

NTPC appointment

RD Gupta, general manager of Badarpur thermal station of the public sector National Thermal Power Corporation (NTPC), has taken charge of the western region headquarters of the corporation in Nagpur. Gupta, who was deputy director of Central Electricity Authority before joining NTPC, would now be the general manager (in charge), an NTPC release said. HL Bajaj was also appointed as general manager (in charge) and later promoted as executive director.

AIAI, Indo-African chamber sign MoU

The All India Association of Industries (AIAI) signed a memorandum of understanding (MoU) with Indo-African Chamber of Commerce and Industries, Mumbai for promoting bilateral trade, jointventures and exchange of trade related information between the organisations. The MoU was signed by AIAI, Mumbai president Vijay G Kalantri and Indo-African Chamber of Commerce and Industries, Mumbai's Shantiprasad Jain.

Cadence organises EDA '99

Design professionals representing a cross section of industries are expected to participate at the EDA '99, to be organised by Cadence Design Systems India on June 16 in New Delhi. The event, being organised to promote the electronic design automation industry in the country, will provide a platform for EDA technology updates and user interactions. The organisers claimed that the event will unveil a new paradigm in the approach to EDA solutions. Cadence Design Systems India is a subsidiary of the US-based Cadence Inc.

Bhel manufactures traction motor

Bharat Heavy Electricals Ltd (Bhel) has registered a landmark achievement by manufacturing a state-of-the-art high power traction motor for the country's highest rating electric locomotives. Thiswill help the Indian Railways in the indigenisation of 6000hp electric locomotive technology of Adtranz, Switzerland.