The fight for Forbes Gokak has taken a new twist with the
Securities and Exchange Board all set to look into whether
the management of the company violated section 23 (1) of the
takeover code when two of its subsidiaries, Warrior Investments
and Forbes Campbell Holdings, sold 11 lakh shares or 9 per
cent of FGL to the Pallonji Mistry group.
South African Breweries is
acquiring 100 per cent stake in Rajasthan-based Rochees Breweries.
SAB has signed an agreement with Moolrajanis, the promoters
of Rochees Breweries, and sought approval of the Foreign Investment
Promotion Board.
Zuari Industries Ltd has decided
to submit its bid for the acquisition of a stake in Paradeep
Phosphates Ltd, where the government is divesting its 74 per
cent stake.
In the first deal of its
kind in the Indian music industry, RPG group company, Saregama
India has entered into a four-film deal involving collateralisation.
