MANASA GROUP'S OFFER FOR MNPM STILL UNDER STUDY
Article Abstract:
The next hearing of the rehabilitation case of Mandya National Paper Mills Limited (MNPM) has been scheduled for September 15, 1998, by the Appellate Authority for Industrial Finance and Reconstruction (AAIFR). In the previous hearing held on June 22, 1998, the representatives of the Karnataka government and the operating agency, Canara Bank, sought additional time to examine the revival package prepared by Chelam Consultants on behalf of the non resident Indian Manasa group. The group has submitted a Rs46 crore revival package for the ailing MNPL by proposing to takeover the unit. MNPM's accumulated losses and other dues owed to the holding company, Hindustan Paper Corporation and the government amounts to nearly Rs200 crore. (gsh)
Comment:
Rehabilitation case to be heard by Appellate Authority for Industrial Finance & Restructuring on 9/15/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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WELCOMGROUP FORAYS INTO HIGHWAY MOTELS
Article Abstract:
The ITC flagship company, Welcomgroup, will enter the highway hotel sector by setting up a new chain of highway hotels called WelcomStop. These will be part of its wholly owned subsidiary, Fortune Park Hotels. For the first time in India a brand has been developed for highway hotels. It is building its first hotel in the WelcomeStop chain in association with Mount Shivalik Breweries. The hotel will be situated at Behrode on the Delhi-Jaipur highway. It will have 12 rooms, restaurants, bar and children playroom. Fortune Park is also looking for hotel properties on Mumbai-Pune and Bangalore-Mysore highways. (um)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DCR INDIA ENHANCES CHEMPLAST CP RATING
Article Abstract:
DCR India has enhanced the Ind D1 plus from Rs10 crore to Rs15 crore for the commercial paper programme of Chemplast Sanmar Ltd. The enhanced rating indicates a very high certainty of timely payment with risk factors being minor. The company's access to alternative sources of funds and good fundamental protection is also factored in. The company has a near monopoly in the speciality grade PVC resin sector. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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