Bizbits

UK energy team in India
Mumbai: British experts from the energy industry will visit India from April 19-23. After visiting Delhi, the mission will be in Mumbai from April 21-23 to explore business opportunities with Indian companies. Navigation aids and offshore power systems for the energy industry with the emphasis on safety provisions, rechargeable industrial hand-lamps, gaseous-chemical and foam-based environmentally safe fire extinguishers, bi-metal lined pipes, combustion equipment and dual snap pressure temperature and flow switches are just some of the products that will be promoted by the British Energy Industry Mission. Two organisations offering courses and seminars in management training for the oil, gas, energy and petrochemical industries are also participating.

Sebi debars Loggar Finance
Mumbai: The SEBI debarred Loggar Finance amp; Trading Ltd and its promoters Kumar Shah and Kirtibhai Shah from accessing the capital market for a period of one year. The action followsrevelations that the promoters did not genuinely bring in their contributions vis-a-vis the company8217;s maiden public issue for 60 lakh equity shares of Rs 10 each in january 1997, Sebi said in a statement here today.

The promoters8217; contribution was brought in by means of transfer entries and an illusion was also created by promoters regarding subscription to the issue by way of financing arrangements, SEBI said. The company has already refunded the subscription amount received from the public, the statement said.

Compaq CEO, CFO resign, stun industry
New York: Top two executives of Compaq Computer Corp, the world8217;s No 1 personal computer maker, stunned the industry on Sunday by quitting in the wake of the company8217;s financial turmoil.

The Houston-based company said Eckhard Pfeiffer, Compaq8217;s president and chief executive, and Earl Mason, the company8217;s chief financial officer, resigned around mid-day Sunday.