MOTOROL FACES WIND-UP PETITION OVER NON-PAYMENT OF DUES
Article Abstract:
MB Parikh Finstocks Ltd (MBPFL) has filed a petition in the Gujarat High Court against Motorol India Ltd (MIL) for non payment of outstanding dues of Rs6.25 lakh. MBPFL had transacted 10,000 shares of Intra Deco, priced at Rs125 per share in 1995 from MIL. About 5,000 shares of Intra Deco were returned to MBPFL as the signature of the seller did not tally. The shares were sent to MIL for correction or for returning the money for the 5,000 shares (Rs6.25 lakh). MIL later agreed to buy back the shares if the shares were not transferred before March 31, 1996. MIL was asked to pay the amount due with 18 percent interest. Since it has failed to honour its commitment, MBPFL has taken legal action against MIL. (rk)
Comment:
Files petition in Gujarat High Court against Motorol India for non payment of outstanding dues of Rs6.25 lakh
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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PHILIPS
Article Abstract:
Philips increased its sales turnover by 10 percent to Rs1188.07 crore in the nine months ended September 30, 1998 against Rs1090.47 crore in the nine months ended September 30, 1997. It posted a net profit of Rs9.10 crore in January-September 1998 against a net loss of Rs18.86 crore in January-September 1997. The company has shifted its base from Calcutta to Pune and reduced its workforce by 300 workers at its Salt Lake unit in Calcutta. It was also able to dispose its colour television unit to the Videocon group and made a profit of Rs2.87 crore from the deal. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BEL TO RAISE Rs100 CR
Article Abstract:
Bharat Electronics Ltd, a public sector company, intends to mobilise Rs100 crore through the private placement of bonds in a few days. The bonds will have a face value of Rs5 lakh and a coupon rate of 13 percent. They will have a maturity period of 7 years, with a call option after 5 years. The funds raised through the issue will be used as core working capital by the company. Centrum Finance Ltd has been appointed as the lead manager for the issue. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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