Maruti Udyog Ltd on Tuesday contributed Rs 50 lakh to the army central welfare fund for the rehabilitation of the war widows and dependants of soldiers fighting in Kargil. Company's joint managing director Jagdish Khattar presented the cheque to Ranjana Malik, president of army wives welfare association. Maruti is also sponsoring an appeal for contribution to the central army relief fund on all major national channels on television from Tuesday.

FIEO president asks for donations

The president of the Federation of Indian Export Organisations, Navratan Samdria, called upon all exporters to contribute liberally to the National DefenceFund for Kargil. In a release, he said, "it is the duty of every citizen of India to support our soldiers for what they are doing for the country."

NKGSB Co-op Bank donates Rs 4 lakh

At the annual general meeting of the North Kanara GSB Co-op Bank, Mumbai, the shareholders passed a resolution proposed by the board ofdirectors to contribute Rs 4 lakh unanimously to the fund for the Kargil war heroes.

Powergrid staff contribution

The employees of Powergrid Corporation of India Ltd (PGCIL) have decided to donate one day's salary every month to the national defence fund till the war-like situation continues in the Kargil area. PGCIL's national bipartite committee, at its meeting on Tuesday, also decided to adopt two families of Kargil martyrs, a statement issued in New Delhi here. The corporation has already contributed Rs 6.17 crore to the national defence fund.

Hindustan Organics reconstitutes board

Public sector mini-ratna company Hindustan Organic Chemicals Ltd (HOCL) has reconsitituted its board by appointing three non-official directors and has chalked out a multi-progned strategy to face global market. Appointment of non-official directors to the board would delegate enhanced powers to the board, an official release said. The directors include SBI recruitment board chairman DN Mukherjee, NationalChemicals Laboratory, Pune, director Paul Ratna Swamy, and Satish Ajmera, charted accountant and an expert in finance, the release said.

Siemens bags Rs 100 cr order

Siemens will be supplying the entire electrical equipment worth nearly Rs 100 crore on a turnkey basis for the new mine 1A being developed to feed lignite to the 250mw power plant of Neyveli Lignite Corporation (NLC).

According to a news release, the order for supplying the equipment has been received through five original equipment maufacturers (OEMs), namely, McNally Bharat, Elecon, L&T, Krupp and Man-Takraf to whom NLC has contracted the job.

Madura Cements revival package

Operating agency Industrial Development Bank of India (IDBI) has suggested a Rs 41 lakh draft rehabilitation scheme (DRS) for ailing Madurai Cements Ltd (MCL), which envisages the company's net worth turning positive by 2003-04. "The company is expected to make profits from the first year of operations after the DRS has been implemented. Itsaccumulated losses will be wiped out by 2006-07," IDBI submitted at the latest hearing of the BIFR.

Chemplast Sanmar scheme gets nod

The Madras high court has sanctioned the scheme of arrangement submitted by Chemplast Sanmar Ltd by which the shipping business has been hived off to Sanmar Shipping Ltd (SSL) effective April 1, 1998. According to a press release, SSL will issue equity capital of the value of Rs 30 crore to Chemplast. SSL also plans to raise equity capital through a private offer to resident Indians who are shareholders of Chemplast on July 15, 1999.