AMERICAN RICE MAJOR TO TAKE OVER AGRO TECH
Article Abstract:
American Rice Inc (ARI) of the US is to take over the ailing Agro Tech India Ltd (ATIL), which has been promoted by Kewal Singh Dhillon and Associates and Punjab Agro Industries Corporation. ARI is setting up a subsidiary at Mauritius to infuse Rs26.25 crore into ATIL over a three year period. The Board for Industrial and Financial Reconstruction has sanctioned a revival package of Rs54.10 crore for ATIL. Apart from the equity infusion by ARI, ATIL will infuse internal accruals of Rs21.18 crore and Rs6.67 crore by sales of surplus land. The share capital of ATIL will be reduced by 90 percent to Rs2.70 crore from Rs27.04 crore before the infusion of equity by ARI. The Punjab government has exempted ATIL from payment of octroi, purchase and sales tax for 7 years. (khr)
Comment:
Will take over Agro Tech India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MUL RIDES ON FAST-MOVING MODELS TO DEAL WITH EXCESS
Article Abstract:
Maruti Udyog Ltd is leveraging its fast-moving car models at a time when car manufacturers are facing problems of excess. The company's 800, Omni and Zen LX models are now available after a waiting period of 52 days, 30 days and 35 days respectively. The company's other models - the 800 cc deluxe, 800 EX, Zen VX, Zen diesel and Esteem are available off the shelf. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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