RAJU BUYS IDBI, IFCI STAKES IN SVCL
Article Abstract:
Industrial Development Bank of India (IDBI) has sold 31.22 lakh shares representing 13.26 percent equity stake in Sri Vishnu Cement Ltd (SVCL) to Mr BV Raju, the former promoter of Rassi Cement Ltd. In an another deal, Industrial Finance Corporation of India (IFCI) has sold 15.45 lakh shares representing 6.52 percent stake in SVCL to Mr BV Raju. With this, the stake of Mr BV Raju and his associates in SVCL has risen to 69.91 percent from 50.23 percent. (gs)
Comment:
Sells 15.45 lakh shares, or 6.52% stake, in Sri Vishnu Cement to BV Raju, former promoter of Rassi Cement
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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COURT GRANTS STAY ON SHIFTING OF SVCL SHARES
Article Abstract:
A stay order has been granted by the Hyderabad City Civil Court on the transfer of Sri Vishnu Cement Ltd (SVCL) shares by the previous management of Raasi Cements Ltd (RCL) to nine different front companies. The injunction means that these nine companies which received SVCL shares earlier cannot sell their stakes in SVCL until further court orders. The petition was filed by Indian Cements Ltd and the nine companies. (gsh)
Comment:
Hyderabad City Civil Court grants stay order on transfer of firm's shares by previous mngt of Raasi Cements to 9 front cos
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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