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Journalism of Courage
SEBI ban on Hindustan Finstock
MUMBAI: The Securities and Exchange Board of India SEBI has barred the promoters of Hindustan Finstock Ltd HFL from dealing in securities for a period of one year. SEBI investigations into complaints on price manipulation prima facie revealed that a majority of floating stock of HFL was cornered by the promoters of the company immediately after the closure of the public issue. The promoters then handed over the stock to their associates who in turn dealt in the scrip with an intention to create a false market and manipulate the price of the scrip. Pursuant to investigations, a show-cause notice was issued and based on oral submissions, documents and evidence on record, SEBI has barred the promoters.
Datta on Aamp;W India board
MUMBAI: S M Datta, former chairman of Hindustan Lever Ltd HLL was appointed chairman of Albright amp; Wilson Chemicals India Ltd. Aamp;W India is a subsidiary of Albright amp; Wilson plc, a 150 year old company. It operates 33 plants in 16countries and trades throughout the world. Its principal product area are phosphoric acid, phosphates and other phosphorus chemicals, surfactants and a wide rage of specialty chemicals.
Pentafour ties up with Cyber Arrow
MUMBAI: Pentafour Software amp; Exports Ltd announced the formation of a strategic alliance with Cyber Arrow Technologies, a subsidiary of US based New Media Venture Partner to provide multimedia products and services to top clients in the USA, Canada and Latin America. New Media8217;s chairman Scott McKinley characterized the alliance as quot;the perfect combination of the best digital production quality from Pentafour Software with New Media8217;s formidable marketing, sales and distribution capability throughout the Americas.quot;
IBM Global ties up with RBI
MUMBAI: In one of the largest system integration and modernisation exercises to be carried out in the country, IBM and the Reserve Bank of India RBI have signed a contract to implement IBM8217;s state-of-the-art cheque processing andclearing system at RBI8217;s four national clearing centres in Mumbai, Delhi, Calcutta and Chennai. This contract will be executed by Tata IBM and IBM Global Services India. The IBM cheque processing and clearing system, an end-to end solution, will equip RBI to handle more than twice its current capacity. IBM will install its latest s/390 mainframes at the four centres, which will lead to increased levels of system availability and security.
Aviance launched
MUMBAI: Aviance, a new international range of customised complete beauty solutions has been launched by Hindustan Lever Ltd HLL. The Aviance skincare and beauty cosmetics portfolio of 70 products will be made available only through trained consultants in a unique interactive module.
Developed at the Unilever Beauty and Skin Innovation Centre, USA, the Aviance range consists of the best Unilever formulations, selected from across the world, for suitability to Indian skin types and weather condition. Intensively researched overseas and in India,the products bring world class technology to provide high performance beauty solutions.
The Aviance range will be available directly to consumers only through trained beauty consultants, who will recommend customised beauty regimes, based on the consumer8217;s specific needs. The range is wide enough to enable every woman to adopt a regime that is exactly suitable for her needs. Aviance and its personalised service are in fact being launched in view of the growing need amongst Indian women for higher customisation and education. Keeping in exclusively through a unique personalised selling system, first in Mumbai, and then across the country, in a phased manner.
