Bombay HC okays Novartis demerger
The Bombay High Court has approved the demerger of Novartis India's agri-business. The company's agri-business, comprising crop protection chemicals and seeds business, was hived off into a separate entity, Novartis Agribusiness India Pvt Ltd (now renamed Syngenta India Pvt Ltd). The entire process of implementing the court order, including listing on the BSE, is expected to be completed by the year-end, a Novartis release said.Tablets unveils new product
Chennai-based Tablets (India) has introduced a gastro-protective agent under the brand name Glutazene for the healing of peptic ulcer, gastritis and similar problems. This is the first product after the exclusive tie-up with R&D driven Japanese company, Kotobuki Pharmaceuticals Inc to introduce their research-based products in India.
L&T's new grinding unit in Bengal
West Bengal chief minister, Jyoti Basu, laid the foundation stone of Larsen & Toubro's new grinding unit at Durgapur. The Rs 125-crore unit will manufacture high-quality blended cement using waste products like slag and fly ash from power plants. This is L&T's fourth unit and will increase its capacity to 15 million tonnes from the current 14 million tonnes.
Jaipan declares 1:5 bonus
Jaipan Industries has declared a bonus share in the ratio of 1:5 and 6 per cent dividend to its shareholders. The company is also planning joint ventures in Western Europe and China to produce/import electronic products to sell self-made products.
Kohli joins Mukand as director
Mr FC Kohli has joined the board of Mukand Engineers Ltd as director. Mr Kohli is the deputy chairman of Tata Consultancy Services besides being director or several IT companies.
Thermax to make presentation
Thermax Babcock and Wilcox has been selected to present papers at Asia's largest power generation conference and exhibition. The 8th annual Power-Gen Asia 2000 is to be held at Bangkok this year. It is one of the leading electric power events, focussing on topics in the global power generation industry.
Complaint against Videocon
The consumer disputes redressal forum in Ahmedabad has upheld a complaint from a consumer against Videocon International Ltd and its city dealer for selling a defective VCR. The forum has directed the company and dealer to return the purchase price of the product with 16 per cent interest, a consumer education and research society release said.
Max New York Life CEO
Max New York Life Insurance company, the life insurance joint venture between Max India and New York Life International Inc, has appointed Anuroop (Tony) Singh as chief executive officer.
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