INDIA BUSINESS WORLD - 16th September - TO - 15th October - 2009
THE MONTH THAT WAS...
News & important developments from the most prospective of the New World markets. India. Our effort is to provide you with the latest and relevant developments that take place in the Indian business, economic and legal environment.
ECONOMIC NEWS:
GLOBAL M&A ACTIVITY PICKS UP STEAM: After witnessing a lull for quite some time, the global merger and acquisition activity is finally catching up speed, with as many as eight deals worth more than $1 billion each, being announced in the last seven days.......More
GOVERNMENT ISSUES RS 10,306-CR OIL BONDS: THE government has issued oil bonds worth Rs 10,306.33 crore to three oil marketing PSUs to compensate them for selling sensitive petroleum products below market price.......More
13 FDI PROPOSALS WORTH RS 393.62 CR OKAYED: The government has approved 13 foreign direct investment projects, including a proposal of Dish TV, entailing total overseas investment of Rs 393.62 crore.......More
OTHERS...
LEGAL NEWS:
COURT CANNOT DIRECT INVESTIGATIVE AGENCY IN INVESTIGATION, RULES SUPREME COURT: In a ruling having long-term ramifications for criminal investigations, the Supreme Court has held a court cannot direct an investigative agency to conduct an investigation in a particular manner.......More
DELHI HIGH COURT RESTRAINS BOXER VIJENDER SINGH FORM MAKING FRESH CONTRACTS: The Delhi High Court restrained boxer Vijender Singh, the Olymppics bronze medalist, from entering into any sports management agreement with Percept Ltd as he already has a contract with Infinity Optimal Solutions (IOS).......More
HEARING IN 1984 ANTI SIKH RIOTS POSTPONED TILL OCT 31: The District court adjourned till October 31, the hearing in the 1984 anti-Sikh riot case in which the Central Bureau of Investigation (CBI) had given Jagdish Tytler a clean chit.......More
AJMAL AMIR KASAB TRIAL: COURT DIRECTS BAR COUNCIL TO TAKE ACTION AGAINST DEFENCE ADVOCATES AZMI AND NAQVI: The designated court, conducting the trial in 26/11 terror attack case, issued a letter to Bar Council to take action against defence advocates Shahid Azmi and Aijaz Naqvi, representing two accused in the case for their non-appearance in the court during cross examination of a witness.......More
CHEQUE BOUNCE CASES TO BE DECIDED UNDER ORIGINAL JURISDICTION, DIRECTS DELHI HIGH COURT: The Delhi High Court has directed that all outstation cases related to cheque bouncing should go back to their respective courts as they do not fall under the Capital's jurisdiction.......More
OTHERS...
BUSINESS NEWS:
SUPREME COURT ALLOWS TVS TO SELL TVS FLAME: The Supreme Court has allowed the sale of TVS Motor Company’s twin spark plug TVS-Flame.......More
WOCKHARDT TO SELL MARKETING RIGHTS OF DIABETES DRUGS: WOCKHARDT, a troubled drugmaker with huge debts, is in talks with GlaxoSmithKline, Pfizer and Novartis to sign a deal that would give marketing and research rights of its diabetes drugs under development to one of the global companies, two persons familiar with the development said.......More
US-BASED DRUG-DISCOVERY FIRM ALBANY MOLECULAR RESEARCH INC (AMRI) FILES PATENT CASES AGAINST DR REDDY'S LABORATORIES (DRL) AND SANOFI AVENTIS: NYSE-listed Dr Reddy's Laboratories (DRL) is embroiled in a fresh patent infringement row with US-based drug-discovery firm Albany Molecular Research Inc (AMRI).......More
STRIDES ARCOLAB LAUNCHES SWINE FLU DRUG: Pharmaceutical firm Strides Arcolab has said that it has launched its anti-swine flu drug 'Starflu'.......More
OTHERS...
MARKET DEVELOPMENTS:
ESSAR TIES UP RS 3,600 CR FOR GUJARAT POWER PLANT: ESSAR Power, part of the Ruia family conglomerate, has tied up Rs 3,600 crore for its forthcoming 1,200 mw coal-based power project at Salaya in Gujarat.......More
PE FIRM KOHLBERG KRAVIS ROBERTS & CO (KKR) UPS STAKE IN ARICENT TO 79% IN $175-M DEAL: PRIVATE equity firm Kohlberg Kravis Roberts & Co (KKR) has increased its stake in its first Indiabased investment.......More
JP ASSOCIATES SELLS 5 CR TREASURY SHARES FOR RS 1,190 CR: INFRASTRUCTURE major Jaiprakash Associates (JAL) raised around Rs 1,190 crore through sale of 5 crore treasury shares in bulk deals in a bid to finance its proposed captive power plants and keep cash ready for a possible acquisition or setting up of cement capacity in Maharashtra and overseas, a top company executive said.......More
OTHERS...
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