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Corporate | Hirco asks shareholders to reject Laxey’s move

Corporate | Hirco asks shareholders to reject Laxey’s move
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First Published: Sat, Mar 14 2009. 12 04 AM IST
Updated: Sat, Mar 14 2009. 12 04 AM IST
Bangalore: India-focused property firm Hirco Plc. on Friday urged its shareholders to reject the resolutions by hedge fund Laxey Partners Ltd to oust its chairman and two board members at an extraordinary general meeting on 6 May, terming the move as “misguided”.
Hirco said it had received on 20 February a requisition to convene an extraordinary general meeting from Credit Suisse as custodian to Laxey’s 10.05% stake in Hirco.
—Reuters
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Indian firms’ confidence at a new low: NCAER
New Delhi: The confidence of Indian companies dipped to a new low in January as the economy slowed down under the impact of global financial meltdown, economic think tank National Council of Applied Economic Research (NCAER) said in its quarterly review.
The Business Confidence Index, formulated by NCAER, stood at seven-year low of 91.4 points in January, plummeting 41% compared with the year-ago period. “This (BCI) is the lowest since January 2002,” NCAER said in its quarterly review of business expectations survey.
— PTI
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First Published: Sat, Mar 14 2009. 12 04 AM IST