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Business Briefs

HPL board meets today

Calcutta, Aug. 7: The board of Haldia Petrochemicals (HPL) will meet in Delhi tomorrow to discuss the issue of referring the company to the corporate debt restructuring (CDR) mechanism. Sources said that unless the board signed an agreement on referring the firm to the CDR mechanism, it would be difficult for it to come out of the debt crisis.

BPCL selloff

New Delhi, Aug. 7: The inter-ministerial group on disinvestment has approved the appointment of US –based Little & Co to prepare BPCL’s accounts in compliance with the US GAAP (General Accepted Accounting Practices).

Sebi move

Mumbai, Aug. 7: Shooting down a proposal mooted by its primary market committee to charge a margin on qualified institutional buyers in book built issues, Sebi chairman G. N. Bajpai today said that “such a step can act as a dampener to the market”.

Berger plan

New Delhi, Aug. 7: Berger Paints today said it was exploring different options to strengthen its position in the growing automotive paints business. “In order to be a serious player in the automotive paints industry, we have to have equity participation with one of the formidable international automotive paints company,” MD Subir Bose said clarifying his statement made at a conference yesterday.

Zenith Media

Calcutta, Aug. 7: Zenith Media president Tapan Pal has resigned. He will be replaced by Praveen Tripathi.


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