Tribunal reduces Zee fine
Mumbai, Feb. 3: The Securities Appellate Tribunal (SAT) has upheld Sebiís order of slapping a fine of Rs 5 lakh on Zee Telefilms Ltd for its delay in complying with disclosure requirements under the regulatorís takeover code. The tribunal, however, reduced the fine to Rs 60,000 as the company was entitled to take benefit of the regulatorís amnesty scheme for lapses under the takeover code. The tribunal, in its order dated January 29, stated that Zee should pay the fine within three weeks.
Mumbai, Feb. 3: Toyota Kirloskar Motor has launched the Corolla and expects to sell around 10,000 units in the first year itself. The ex-showroom Mumbai price is Rs 9.74 lakh (1.8J), Rs 10.74 lakh (1.8E), Rs 11.44 lakh (1.8G fabric) and Rs 11.94 lakh (optional leather package).
New Delhi, Feb. 3: In its response to the Telecom Regulatory Authority of India, Tata Teleservices clarified that it had set up infrastructure in Delhi and not in any other city of national capital region (NCR) such as Noida, Ghaziabad and Gurgaon.
Calcutta, Feb. 3: The Calcutta Port Trust expects to handle over 33 million tonnes of cargo during 2002-03 as against 30 million tonnes handled in 2001-02. During April-January, 2002-03, the Calcutta dock system has handled 2.4 million tonnes of crude through lighterage operations compared with 1.6 million tonnes handled during the same period in 2001-02.
Mumbai, Feb. 3: DSP Merrill Lynch has launched two schemes. The DSPML Top 100 Equity Fund will focus on investing in the top-100 companies by market capitalisation, listed in India. The DSPML Savings Plus Fund will invest in debt (80 per cent) with the balance in equities. The initial issue period for the schemes is February 10 to 21.
Calcutta, Feb. 3: Hindustan Lever has forayed into the direct selling segment with the launch of Hindustan Lever Network. It will initially introduce products in home care, kitchen care, laundry care, male grooming and food categories.