Bizbits

The Registrar of Companies has also filed prosecution for violation of the Companies Act on the basis of DCA inspection, Bakht said. Though the West Bengal government had suggested setting up of a committee of investigation under section 15 of the Industrial Development and Regulation Act, the minister said the proposal has not been found feasible. Meanwhile the management of Dunlop has approached the Board for Industrial and Financial Reconstruction BIFR for declaring the company sick under the Sick Industrial Companies special provisions Act, 1985.Industrial Development Bank of India IDBI, which has been appointed the operating agency by BIFR to enquire into the accounts of the company, has already submitted its report to the board, Bakht said.

Adfactors retains top slot

MUMBAI: Adfactors Advertising, which mobilised the largest volume of funds through public issue in 1995-96 and 1996-97, has once again achieved the top ranking for 1997-98, according the latest report from Prime Database. The agency helped corporates in mobilising a total of Rs 1,978.45 crore, representing 64.6 per cent of the total funds mobilised through public issues and book building issues combined.