Corporate News | Johnson Johnson, Emami settle dispute

Corporate News | Johnson Johnson, Emami settle dispute

New Delhi: Personal care products maker Emami Ltd and healthcare firm Johnson and Johnson on Friday informed the Supreme Court that they have amicably resolved a dispute over the advertisement of baby products.

Lawyers representing the two firms moved a joint application before an apex court bench headed by Chief Justice S.H. Kapadia, formally withdrawing the case.

Emami had earlier filed an appeal against an order of Competition Appellate Tribunal, which had asked it to withdraw certain emphasised portions from its advertisement that implied that similar products of leading manufacturers were harmful for a child’s skin and herbal products manufactured by it (Emami) would be a better alternative.

Manish Ranjan


DLF net rises more than twofold to Rs426 cr

New Delhi: India’s largest real estate firm, DLF Ltd, posted a net profit of Rs426 crore for the quarter ended 31 March and Rs1,729 crore for fiscal 2010.

While quarterly profit marked a more than twofold rise over Rs159 crore in the same period last year, yearly profit showed a decline of 61% over fiscal 2009.

DLF posted Rs2,146 crore revenue for for the March quarter, up 59% from the corresponding period last fiscal, while yearly revenue stood at Rs7,855 crore, down 25% from the previous year’s figure of Rs10,431 crore.

Devesh Chandra Srivastava


Tata Power told to supply power to R-Infra

Mumbai: The Maharashtra government on Friday wrote to Tata Power Co. Ltd asking it to sell power Reliance Infrastructure Ltd (R-Infra) at a regulated rate of Rs4.30 per unit, according to a government official.

State energy secretary Subrat Rathore said the government has told the Tata Power that power cannot be sold at rates higher than the regulated one, and that power generated in Mumbai cannot be sold elsewhere.

The government’s directive comes after Tata set a Friday deadline for R-Infra to accept 200MW of power at Rs5.90 per unit, higher than the regulated rate.

Joel Rebello