Hinduja telecom foray

New Delhi, Sept 27: The Hinduja group plans to foray into the telecom sector and may engage a a partner to start the business. “We will apply for a telecom licence in a day or two,” Hinduja Ventures executive chairman Ashok Hinduja said. The company would apply for an all-India licence, he said, adding it would take a partner for the new business. He, however, declined to reveal the name of the possible partner.

IFCI stake

New Delhi, Sept. 27 Financial institution ifci Ltd has shortlisted eight entities out of the 10 bidders who submitted expressions of interest for a 26 per cent stake in the company. Letters have been issued to interested parties for the next round of the stake sale. A decision on the remaining contenders is likely to be taken tomorrow.

Lupin buy

Mumbai, Sept. 27: Drug maker Lupin has acquired Rubamin Laboratories Ltd, a subsidiary of the Rubamin group, for an undisclosed amount. The Rubamin group company manufactures advanced intermediates for active pharmaceutical ingredients.

HPL board

Calcutta, Sept. 27: Haldia Petrochemicals Ltd (hpl) has called a board meeting on October 29. The meeting will decide on the issuance of shares to financial institutions and approval of annual accounts for the last three financial years.

Mallya move

New Delhi, Sept. 27: UB group chief Vijay Mallya has moved the Supreme Court to quash criminal proceedings initiated against him by the enforcement directorate in a case relating to foreign exchange rules. The matter is likely to come up for hearing on October 8.

Award for Tata

Mumbai, Sept. 27: The UK Trade & Investment has awarded Ratan Tata a special recognition. The award was presented to Tata by Lord Dougby Jones, the UK minister for trade and investment. This award was presented to Tata for his contribution to the promotion of business relationships between India and the UK and to mark 100 years of the Tatas’ collaboration with the UK.