Hearing on Bajaj Auto case postponed to Friday
A Bombay High Court division bench on Wednesday fixed the date of the next hearing on the writ petition in the Bajaj Auto-workers’ union dispute to April 25, 2014. Though scheduled for Wednesday, the case could not be heard. So, upon the Bajaj Auto counsel’s request to consider it as priority, the court fixed Friday as the date of the next hearing. The writ petition is being heard by the HC division bench comprising Justice Anoop V Mohta and Justice MS Sonak. Bajaj Auto had approached the court challenging the termination of the wage agreement by the union in March 2013 as unlawful.
Crisil rates two DLF NCDs AA(SO)/Stable
Ratings agency Crisil has assigned ‘AA(SO)/Stable’ rating to India’s first commercial mortgage-backed securities (CMBS) issued as non-convertible debentures (NCDs) of R900 crore by DLF Emporio and DLF Promenade, the step-down subsidiaries of DLF that operate two malls in south Delhi. CMBS is a completely new fund-raising avenue for the real estate sector and its advantages are that funds available with the issuer during the tenure of the instrument are higher than lease rental-discounting loans from banks, where principal repayment is amortised whereas CMBS will typically have a bullet repayment.
Indiabulls Real Estate net falls 20% to R41.6 crore
Indiabulls Real Estate's consolidated net profit fell by a sharp 20% to R41.6 crore for the fourth quarter ended March 31, 2014 against the corresponding quarter last year. Total income fell nearly 27% to R327.6 crore in the fourth quarter. For the full year ended March 31, 2014, the group's consolidated net profit increased 28.7% to around R224 crore while consolidated total income increased 33.5% to R1,736 crore.
Wockhardt to appeal against HP ban on 3 drugs
Wockhardt said on Wednesday that the State Drug Controller, Himachal Pradesh, had suspended the manufacture, sale or distribution of three painkillers: dicyclomine hydrochloride IP 10 mg, tramadol hydrochloride IP 50 mg and acetamenophen IP 325 mg. The Mumbai-based company said it is filing an appeal with the state government to get the suspension revoked.
Best-selling 125cc bike in India: Honda CB Shine
Honda Motorcycle & Scooter India (HMSI) said its 125 cc motorcycle CB Shine has become the country’ highest selling model and the first ever to reach the 30-lakh-unit sales mark. The bike also became Honda Motor Company number one selling motorcycle across its two-wheeler operations worldwide for the first time. "CB Shine is