Mumbai:India’s third largest bike maker, TVS Motor Co. Ltd, will continue to sell its Flame bikes after the Supreme Court (SC) disallowed a stay order sought by Bajaj Auto Ltd, on the sale of the bikes. At the heart of the dispute is a claim by Bajaj Auto that the TVS bikes use technology that may have infringed upon Bajaj’s own technology, which it has patented. The technology, dubbed digital twin spark ignition, has two igniters instead of one for better fuel efficiency.
IIMs declare CAT results; about 3,500 clear test
New Delhi: The Indian Institutes of Management declared the scores of the common admission test (CAT) on Tuesday, with close to 3,500 students getting through the written test, the first step for admission to these elite business schools. They will now fight for 1,600 seats, including those in the seventh IIM in Shillong, which will admit students for the first time in the academic sessions that start in June.
The scores were declared on the CAT website as well as through mobile phones. The IIMs will start the next round of selection—group discussions and personal interviews by February.
More than 230,000 students wrote the test on 19 November, out of which about 1.5% have managed to move to the next level.
-Staff Writer and PTI
M&M to acquire Italian design house
Mumbai: Car maker Mahindra and Mahindra Ltd (M&M) on Tuesday said it plans to acquire Italian auto design firm G.R. Grafica Ricerca Design s.r.l (GRD) for an undisclosed amount.
The company intends to develop a global design centre for the group and cater to global auto original equipment manufacturers, M&M said in a communique to the Bombay Stock Exchange. The company would incorporate a new subsidiary, Mahindra Graphic Research and Design, for acquiring the Italian firm, M&M said.
Meanwhile, in February 2007, M&M, Renault and Nissan announced their intent to set up a joint manufacturing facility at Oragadam, outside Chennai and signed an memorandum of understanding with the Tamil Nadu government.
M&M has since reviewed its plans. It will utilize capacity available at their new plant in Chakan and other existing plants to meet its medium term requirements and hence shall not participate in the joint venture plant at Oragadam.
-PTI and Staff Writer
Supreme Court issues notice to UP, Centre
New Delhi: Following a writ petition challenging the acquisition of land by the government from farmers in the Ghaziabad district in Uttar Pradesh for the Dadri power project, a three-judge bench of the Supreme Court issued notices to the Government of Uttar Pradesh and the Union government.
The petition was filed in public interest by the not-for profit organisation Sahyog Samiti, that is working for the upliftment of farmers and downtrodden in society.
The land for the Dadri project was acquired after the Uttar Pradesh government and Reliance Energy Generation Ltd (an Anil Ambani group company) entered into an agreement to set up a power station of 3,500MW capacity.
Sahyog Samiti’s petition alleges that the mandatory enquiry to be conducted by the Government before proceeding with land acquisition as envisaged by Rule 4 of the Land Acquisition (Companies) Rules, 1963, was not complied with.
Sandipan Deb to head RPG’s biz magazine
New Delhi: An industrial conglomerate with $3 billion (about Rs12,000 crore) in annual revenues, RPG Enterprises, said it has hired Sandipan Deb as editor and publisher of its new business magazine. Deb told ‘Mint’ on Monday that he had resigned as editor of ‘The Financial Express’, a business newspaper published by Indian Express Newspapers (Mumbai) Ltd. “The magazines will be lifestyle oriented with a focus on wellness, and will target Indians with a global mindset as it will include a lot of foreign reporting,” said Deb. RPG plans to launch two magazine titles by December. “It is too soon to say what we are doing, but we are in the process of collaborating with some publishing companies overseas,” said Deb.