The Board for Industrial and Financial Reconstruction (BIFR) has drafted a revival scheme for the bankrupt Kankeshwar Iron and Steel Company Private Limited envisaging restarting the plant and settling the dues of banks and financial institutions. The cost of the draft scheme is estimated at Rs 3.23 crore. The cost comprises one-time settlement of Rs 1.46 crore with the State Bank of India, West Bengal Finance Corporation, IIBI and West Bengal Industrial Development Corporation.

Aero group to set up showrooms abroad

Leading shoe and apparel manufacturer, Aero Group will set up exclusive marketing showrooms overseas to enhance the share of export to 25 per cent in the company's total turnover, a top company official said on Friday. Aero group, manufacturers of popular Woodland shoes and apparel will set up showrooms in Dhaka and the Middle East to start with, according to the group director exports ML Kalra.The overseas showrooms are proposed to be set up in association with foreign collaborators and would sell apparels, the sale of which till now was limited to the domestic market.

TI Cycles to unveil new geared models

TI Cycles, leading bicycle manufacturers in the country, plans to line up a series of state-of-the art geared bicycles and step up its production to 2.3 million bicycles this year, a senior company official has said. ``We plan to launch 8-10 new models this year to meet the growing demand in the geared sector. These models would be with shock absorbers and cater to kids segment also,'' TI Group managing director A Vellayan told. The cycles under the brand names of `BSA' and `Hercules' would be produced at the group's Ambattur plant.

Modern group clarifies

This refers to the story carried in The Financial Express

on July 2 titled `Rankas to put Modern Syntex on the block.' The Modern group has clarified that it does not wish to sell Modern Syntex but only the spinningdivision of the company situated at Alwar. Our Correspondent replies: The story was based on a conversation with a senior official of the group who confirmed that efforts were on to sell Modern Syntex