Sterling Resorts recast

Sterling Holiday Resorts (India) will revamp the company?s operations to achieve faster growth. It has drawn up a three-year plan to settle all its debts, refurbish its existing resorts and complete all the pending projects. Simultaneously, it will expand its sales of timeshares and hotel rooms. The company has entered into an agreement to sell one of its properties to Wipro to pay significant portion of its liabilities. The company will sell more surplus properties to raise Rs 33 crore.

VLCC move

VLCC Health Care Ltd will invest Rs 75 crore for expansion in the UAE and other gulf countries. The expansion will be done in two phases. The first phase will entail an investment of Rs 30 crore, while Rs 45 crore will be invested in the second phase. In the first phase, the company will expand its operations in Dubai, Sharjah and Abu Dhabi. The second phase expansion will be completed in 2008.

Icfai meet

Icfai National College held its first two-day regional management meet in Calcutta that concluded on February 7. Bengal chief secretary Amit Kiran Dev said on the occasion, ?The college should focus on developing entrepreneurial skills of the students beside providing quality management education.? He urged the students to venture into setting up start-up companies after gaining experience in the corporate world.

Kotak bank

Kotak Mahindra Bank has launched a no-frills bank account, called Kotak Easy. The facility is offered to customers at a nominal average quarterly balance of Rs 500 in urban and semi-urban areas and Rs 250 in rural areas. Customers of these accounts will get free access to all Kotak Mahindra Bank ATMs, Net banking, phone banking and mobile banking facilities.

neoIT revamp

neoIT has restructured its executive management team to introduce new services and expand into new geographic markets. The consultancy firm has inducted Pavan Chahal as global managing director. Besides, Gary Schneider from Ernst & Young has also joined neoIT team. Others include Satyen Hombali and Chas Mullins.