Thursday, October 28, 1999
Insurance Bill proposes 9-member statutory body
The long-awaited Bill to open up insurance to private and foreign investors allowing 26 per cent foreign equity will have a nine-member statutory body to regulate the sector.
ICL buys SVCL for Rs 115 cr
After a bitter takeover battle, India Cements Ltd (ICL) on Wednesday acquired Sri Vishnu Cement Ltd (SVCL) controlled by Dr B V Raju through an out-of-the-court compromise settlement for a consideration of Rs 115 crore.
ACC net profit crashes
Associated Cement Companies (ACC), the largest cement company in the country, has managed to remain out of the red thanks largely to the other income in the first half of 1999-2000.
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