FADEOUT TIME FOR SHARAD TAK?
Article Abstract:
Sharad Tak, the non-resident Indian (NRI), had been awarded the 210 mw lignite-based power project at Neyveli in Tamil Nadu. The memorandum of understanding (MoU) he had signed with the Government of Tamil Nadu was challenged in a court as the project cost had gone up to Rs1,325 crore. Sharad Tak had envisaged setting up the project as a 50:50 joint venture with CMS Energy Corp of USA. His holding has been reduced to 3 percent following the entry of Asea Brown Boveri (ABB) as the new joint partner in this venture. The project is yet to be executed. Shared Tak has established ST Infosys in Jaipur to supply software to his Orange Technologies in USA. (uh)
Comment:
India: Sharad Tak, non-resident Indian, has been awarded the 210-MW lignite-based power project at Neyveli in Tamil Nadu
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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TAKING ON THE CHAINS
Article Abstract:
To counter the competition posed by a chain of medical shops opened by Apollo Hospitals and the RPG group under the names, Apollo Pharmacy and Health & Glow respectively, 18 Chennai chemists have jointly formed a society called Chennai Health Care. Each member of the society should initially invest around Rs10,000 in order to push information brochures and train sales personnel. The shops run by the society will have all the features of outlets run by a chain, like common logo, uniformed sales personnel and a residential pharmacist to advise ignorant customers. (gsh)
Comment:
New society formed by 18 Chennai chemists to run shops which will have all features of outlets run by a chain
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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WHEN IN DEBT, CHOP AND SELL
Article Abstract:
DCM Ltd has chalked out a plan to repay over Rs250 crore of its Rs400 crore debt. DCM plans to spin off its foundry division, DCM Engineering Products, and its textile division, DCM Textiles into 100 percent subsidiaries. It plans to sell 49 percent of the equity of the two new companies and of DCM Data Systems (DDS) to private equity funds and financial institutions. DDS is DCM's 100 percent infotech subsidiary. DCM is likely to earn Rs175 crore from the equity sale. DCM plans to sell its residential property in Delhi to financial institutions for Rs75 crore. (tsm)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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