The board of directors of Bharat Shell Ltd, (a joint venture between Bharat Petroleum Corporation and Shell Overseas), at a meeting of the board of directors held in Mumbai on Wednesday, appointed S Radhakrishnan as the managing director of Bharat Shell. S Radhakrishnan has been the deputy managing director of Bharat Shell for the past two years.

150 firms to take part in Gartex '99

More than 150 exhibitors including 50 overseas companies will display a wide range of garment machinery and equipment and state-of-the-art technology at Gartex '99, a four day international exhibition of garment machinery beginning in New Delhi October 22. Industrial giants from 15 countries including the US, UK, France, Italy, Spain, the Netherlands and Japan, besides the domestic manufacturers will display assortment of products.

DCI net declines

Public sector Dredging Corporation of India (DCI) has reported a 3.35 per cent decline in net profit at Rs 40.92crore for 1998-99 on a turnover of Rs 249 crore. The company had reported a net profit of Rs 42.34 crore and a turnover of Rs 238 crore during the last year. DCI also declared a 33 per cent dividend at Rs 9.24 crore, a company release said.

Reliance Silicones' revival

Board for Industrial and Financial Reconstruction (BIFR) has lambasted Central Bank of India (CBI) for non-compliance with its orders regarding revival of Reliance Silicones. A two-member BIFR bench, hearing a case on revival of Reliance Silicones, observed "non-compliance with BIFR's orders and the sanctioned scheme had put Central Bank in adverse light and its conduct was being viewed as obstructing BIFR's orders."