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Journalism of Courage
SmithKline pays 27 interim
MUMBAI: SmithKline Beecham Consumer Healthcare has posted 21 per cent increase in net profit for the first half year ended June 1999 at Rs 39.6 crore while its turnover during the same period is up by 8.3 per cent to Rs 336 crore. The board of directors that met here on Tuesday announced an interim dividend of 27 per cent. The interim dividend represents an increase in payout of 13 per cent over last year, a company statement here said.
DCA files 6819 cases against defaulting cos
NEW DELHI: The Department of Company Affairs DCA has filed 6819 cases against defaulting companies in 1997-98 under the Companies Act with fines totalling Rs 34,11,938 imposed against these firms. More than 70 per cent of these cases related to non-filing of annual returns and balance sheets with the Registrar of Companies RoC which is mandatory under the Act, an official release said here today.
Warning companies to voluntarily comply with the provisions of the Companies Actfailing which defaulting companies would be prosecuted, DCA said these could be launched for non-filing of statutory reports or not holding of annual general meetings on complaints by a shareholder, registrar of companies or central government. While 2638 complaints were filed in 1997-98 for non-filing of returns, 3028 prosecutions were launched for non-filing of balance sheets, the release said.
Taking into account backlog of cases brought forward from previous years, 26,685 cases were pending as on March 31, 1998, it added. In 1996-97, total number of cases filed under the Act stood at 4062. In 1997-98, the number of companies prosecuted for non-holding of general meetings were 187 with another 105 companies prosecuted for non-compliance to deposit rules.
Another 14 companies were prosecuted for failure to distribute dividends to their shareholders in time during the same period.
Wipro sees Rs 10 bn sales from new PCs
BANGALORE: The computer hardware division of India8217;s Wipro Ltd said onTuesday that the launch of a new range of personal computers will help it post sales of Rs 10 billion 231.5 million in 1999/2000 April-March, up from 7.12 billion the previous year. quot;I will be very disappointed if we don8217;t cross the Rs 10 billion-mark this year,quot; Wipro vice chairman Arun Thiagarajan told a news conference to launch the company8217;s new range of desktop computers.
Thiagarajan said Wipro8217;s computer systems and services division was expected to post sales growth of over 30 per cent in financial 1999/2000 from a compounded annual sales growth rate of 23 per cent in the last five years. On Tuesday, Wipro launched a range of personal computers to cater to different sectors, from business users and home users to large corporations. In June last year, Wipro launched its first personal computer under its own brand name.
