Bizbits

SC quashes MRTPC order on Colgate

NEW DELHI: The Supreme Court today set aside a Monopolies and Restrictive Trade Practices Commission MRTPC order restrainingColgate Palmolive Ltd from using quot;suraksha chakraquot; in their toothpaste advertisements. A three-judge bench comprising Justice S B Majmudar, Justice M Srinivasan and Justice U C Banerjee said the commission was not justified in restraining Colgate from using quot;suraksha chakraquot; as it has given no reasons for the same.

CMC plan to mop up Rs 10 crore

NEW DELHI: State-Owned computer major CMC Ltd has decided to seek government nod to raise additional equity amounting to about Rs 10 crore through a rights issue or preferential allotment to its existing shareholders and expects the exercise to be launched by October. An internal team of the company which is studying options of raising additional equity has zeroed in on the options of rights issue and preferential allotment.