Bizbits

BME flays excise norms
MUMBAI: The Bombay Metal Exchange BME has strongly condemned the public notice issued by the excise office regarding receipt of goods in dealers8217; godowns and their verification by department officials. BME has called for cancellation of the public notice, citing it as unjust, unfair and putting the trade at the mercy of the inspector raj8217;. Calling the public notice as contradictory to excise laws, BME has forcefully stated that the restriction of traders from self removal procedure is entirely unjust. Moreover, the new direction to bring material and keep for 48 hours in godown for physical verification by excise officers and to keep registered at godowns and offices is will not only harass the traders unduly but will lead to delay in delivery of materials by 72 hours to 96 hours.

BSE polls to elect new director
MUMBAI: MG Damani, former president of the Bombay Stock Exchange BSE is set to retire from the exchange8217;s governing board on March 31,1999. The exchange has in the meanwhile decided to conduct fresh elections for Damani8217;s and two other director posts which fall vacant on that date. The election scheduled for March 26 would also find a replacement for the former vice president Rajendra Banthia who recently stepped down from his post. It may be recalled that Banthia, director of Harvestdeal Securities had ceased to be a member of the governing board .

Allied Computers
MUMBAI: UK-based notebook manufacturer, Allied Computers Industries ACi, on Tuesday said it would launch its products in the Indian market at a 25 to 30 per cent discount to prices being offered by multinationals. The firm8217;s two major shareholders have entered into a 50:50 joint venture with Rajesh Tolia of Karox Technologies to market notebooks in the country. The new company will be called ACi India Private Limited.

quot;Companies are over-charging here. They are mainly concentrating on the desktop segment,quot; said Nigel Woolf, chairman. ACi Plc, said aboutthe notebook market in India. The 5 million pound firm is a premium player in UK market. However, it has chalked out a different strategy.