M&M converts $23m bonds into GDRs
Mahindra & Mahindra has informed the BSE that the company has converted bonds of total value of $23 million into GDRs at the original conversion price and has redeemed the balance of approximately $5 million with effect from March 31, 2000.Wockhardt appoints consultant
Wockhardt has appointed Arthur Anderson for the main company as well as for its group company Wockhardt Life Sciences. The company's accounts will now be based on US GAAP (Generally Accepted Accounting Standards), leading to greater transparency and accountability for the company in the international scenario.
Skylid back in black
Skylid Telecommunications Ltd (STL) has reported a net profit of Rs 3 crore during fiscal 1999-2000 against a net loss of Rs 4.91 lakh registered during the previous financial year. The company's income from operation stood at Rs 13.22 crore (Rs 80,000) during the period.
Fake Philips packing material seized
Philips India along with the Enforcement Directorate, Calcutta and the local police raided the premises of an unscrupulous supplier of counterfeit packing materials under the brand name of `Philips'. Similar raids were earlier conducted in Delhi and Calcutta.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.