SEBI LAUNCHES PROSECUTION AGAINST PRICE RIGGING IN PARO LEASING
Article Abstract:
The Securities and Exchange Board of India (Sebi) has initiated criminal proceedings before the Additional Chief Metropolitan Magistrate of Chennai against Tatia Finance & Leasing Ltd (TFLL) and 11 others for alleged rigging of the price of the shares of Paro Leasing and Finance Limited (PLFL) of Chennai. The price of the share of PLFL, a little known company, had soared to Rs90 in September 1995 from Rs9.50 in August 1995. One of the accused, along with another, is alleged to have cornered the floating stock of PLFL. Earlier, TFLL had refused to pay the penalty levied by the inquiry officer of Sebi who had conducted the enquiry into the alleged manipulation of the price of the scrip of PLFL. (ag)
Comment:
SEBI initiates criminal proceedings before the Additional Chief Metropolitan Magistrate against this firm
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MAX GB LEVELS FRESH CHARGES AGAINST HIND ANTIBIOTICS
Article Abstract:
Max GB has made new allegations against Hindustan Antibiotics Ltd (HAL). The allegations relate to the streptomycin fermentor issue. Max GB has accused HAL of violating Article 4.5 of the shared services agreement between HAL and Hindustan Max GB (HMG). It has also stated that HAL has created a conflict of interest between HMG and Searle India. HAL had violated Article 4.5 by deciding to lease five streptomycin fermentors to Searle. HAL has contended that it had to opt for the open tender process as the lease money offered by HMG was less than the lease rent paid for the use of other HAL penicillin fermentors. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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VIP WINS ODYSSEY IPR CASE AGAINST SAMSONITE
Article Abstract:
The Delhi High Court has dismissed the petition filed by Samsonite Corp of the US to prevent VIP and its associate company, Blow Plast from producing and marketing its Odyssey GLX range of luggage. Samsonite had claimed that VIP was infringing on copyright drawings and was imitating Samsonite's products. Samsonite's System 4 Deluxe model and VIP's model look identical. (khr)
Comment:
Court junks Samsonite's petition to prevent firm and Blow Plast to produce and market its Odyssey GLX range of luggage
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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