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Ahmedabad News and Information

Ahmedabad News and Information
rovide Ahmedabad related News, Articles, Weather Report. We are Provide to Ahmedabad News, Article, History, Weather Info, Festivals and area information. Best time to visit in Ahmedabad, languages spoken in Ahmedabad, history Ahmedabad, Company Info
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Articles

Cinemax India to open four-screen multiplex in Ahmedabad
2008-04-19 05:54:00
MUMBAI: Cinemax India Ltd has informed the BSE on Friday that the company would open its four screen multiplex in Ahmedabad . The multiplex chain would be opened to the audience with the block-buster movies like KRAZZY4, U Me Aur Hum, The Water Horse. The multiplex has capacity of 1,037 seats in total. With this, Cinemax chain would have 19 theatre properties and 56 screens.
More About: Screen , Open
Parliamentary Panel takes exception to IIM-A fee hike
2008-04-19 05:52:00
Parliamentary Panel has taken exception to the fee hike by the Indian Institute of Management Ahmedabad and asked as to why IIMs should raise their fees without waiting for the report of the Bhargava Committee, set up to review functioning of the institutes. The Parliamentary Standing Committee on Human Resource Development, which tabled its report in Lok Sabha, said, "The Committee fails to understand why some IIMs went ahead with raising their fees, without waiting for the Bhargava Committee Report." It said no other IIM should do the same till the Committee report is submitted. "In future, no IIM should go ahead with increasing the fees before the Bhargava Committee submits its report," the Panel said. The Bhargava Committee under Maruti Udyog Limited Chairman R C Bhargava was appointed in October 2007 to submit a review of functioning of IIMs within six months. Terms of reference of the review included the existing fee structure in IIMs, use of their corpus funds, number ...
More About: Exception , Hike
It's official: AMC to collect professional tax
2008-04-19 05:50:00
AHMEDABAD: The standing committee of the Ahmedabad Municipal Corporation (AMC) on Thursday gave its unanimous consent to appoint the municipal commissioner as the professional tax commissioner of the city. The state finance department has now authorized AMC to collect and utilize the income it generates through professional tax. According to the new amendment of the Gujarat state profession, business and employment tax, 2008 which is being enforced from April 1 this year, the AMC is now authorized to collect and even decide the tax slabs for the citizens. In the trading community, all those who have a Value Added Tax (VAT) registration number, there would be no tax up to an annual turnover of Rs 2.5 lakh. For individuals, whose turnover is between 2.5 lakh and Rs 5 lakh, they will have to pay an annual tax of Rs 500, while those with a turnover between Rs 5-10 lakh will have to pay Rs 1,250 while those with a turnover of more than Rs 10 lakh is Rs 2,400. The professional...
More About: Official , Professional
Kanpur cannot be deprived of international cricket: Shukla
2008-04-19 05:46:00
It would not be all that easy to take away Kanpur's status as an international venue following an adverse report on its "poor" pitch provided for the third Test against South Africa, a top Uttar Pradesh cricket official said on Thursday. The five-day Test ended within three days, largely due to undue assistance to spinners from the pitch, with India winning by eight wickets to draw the series 1-1. Incidentally, the second Test in Ahmedabad had also ended inside three days, with South Africa winning by an innings and 90 runs."What about the Ahmedabad pitch? There too the match ended in three days," Rajeev Shukla, secretary of the Uttar Pradesh Cricket Association (UPCA), noted. Earlier on Thursday, the International Cricket Council (ICC) disclosed that its match referee Roshan Mahanama, who officiated in the series, had termed the pitch "poor" in his report and the ICC gave the Board of Control for Cricket in India (BCCI) 14 days to comment on it. Shukla, however, seemed confiden...
Taxman to prowl airport
2008-04-19 05:43:00
AHMEDABAD : Don't be surprised if you are all set to board your flight to Dubai, London or Newark and are accosted, of all people, by the taxman.You could well be asked to open up your baggage and declare the amount of currency or bullion you are carrying out of the country. For, the Income-Tax department is gearing up to put up an air intelligence unit at the Sardar Vallabhbhai Patel International Airport at Ahmedabad to clamp down on outgo of black money from Gujarat.Confirming the move, a top I-T department official said the AIU would work on I-T intelligence and also rely on tips from informers to check illegal money trade by clamping down on movement of cash and bullion from the state."AIUs at Mumbai, Delhi, Kolkata, Chennai, Hyderabad and Bangalore international airports have been successful in reducing illegal money transactions to a large extent," a top I-T official said.According to I-T department sources, many Gujarat-based businessmen were investing black money in realty...
Smith confident of repeating Ahmedabad success
2008-04-19 05:39:00
Kanpur: Sounding a note of warning to the hosts, South African captain Graeme Smith on Thursday said that they would go into the third Test here on Friday with a well thought-out plan to prevent the Indians from equalling the three-match series.Sounding too confident of his boys, Smith said his team had made definite plans and this time they would play even better than what they had in Ahmedabad where they had handed an innings defeat to Team India.Addressing a press conference here before the practice session at the Green Park stadium, the Proteas skipper admitted that like the Aussies, the Indians are a tough team to beat in their homeground.Special: Indian Premier League | Special: South Africa in India 2008''But we have done this in this sub-contitent by beating Pakistan, Bangladesh and now India,'' he pointed out.Setting aside the controversy ranging around the condition of the pitch, the SA skipper said such things happened and the homeside always got the benefit.'' Our ...
More About: Success
BPOs eye tier II cities to cut costs
2008-04-18 05:48:00
NEW DELHI: The surge in real estate prices and a talent crunch in metros are forcing the $11 billion Indian BPO industry to now move to tier II cities in the country, according to a recent study conducted by consultancy firm Everest Group.?It is difficult to sustain the growth in tier I cities because of the rising real estate prices and talent crunch. There is no option but to move to tier II cities,? Everest Group?s Country Head (India) Gaurav Gupta said.As of now, BPO industry is concentrated in seven cities namely Bangalore, NCR, Mumbai, Pune, Chennai, Hyderabad and Kolkata.?Movement to lower-cost cities within India is likely to result in additional 15-30% reduction in operating cost despite lower employability and higher management costs,? head of Global Services at Everest Research Institute Nikhil Rajpal said.
More About: Cities , Costs , Tier
It's official: AMC to collect professional tax
2008-04-18 05:46:00
AHMEDABAD: The standing committee of the Ahmedabad Municipal Corporation (AMC) on Thursday gave its unanimous consent to appoint the municipal commissioner as the professional tax commissioner of the city.The state finance department has now authorized AMC to collect and utilize the income it generates through professional tax.According to the new amendment of the Gujarat state profession, business and employment tax, 2008 which is being enforced from April 1 this year, the AMC is now authorized to collect and even decide the tax slabs for the citizens.In the trading community, all those who have a Value Added Tax (VAT) registration number, there would be no tax up to an annual turnover of Rs 2.5 lakh.For individuals, whose turnover is between 2.5 lakh and Rs 5 lakh, they will have to pay an annual tax of Rs 500, while those with a turnover between Rs 5-10 lakh will have to pay Rs 1,250 while those with a turnover of more than Rs 10 lakh is Rs 2,400.The professionals whose monthly i...
More About: Official , Professional
Bas karo yeh bus! Time to scrap these coffins on wheels
2008-04-18 05:41:00
AHMEDABAD: The Ahmedabad-Mansa express bus (GJ-18 V6376) run by the Gujarat State Road Transport Corporation (GSRTC) could well epitomize how the corporation runs a service used by nearly 22,500 passengers daily.A tin case with holes that moves in any direction was once a dashboard with a speedometer. Now loose cables hang under it, entangled in an untidy bunch. A shaft with an elementary wheel at the top is used to steer the massive machine on the highway with the help of a vertical tin plate on the floor - they call it the 'accelerator pedal' in GSRTC.A GSRTC driver, who was reluctant to be named, says this bus runs an express service to a village near Bareja in Kheda district every morning and in the afternoon, runs between Ahmedabad and Mansa, doing an average of 400 km everyday.The passengers bear the rough and tumble of this rickety machine that threatens to fall apart any minute.This driver took this TOI correspondent on a tour of this bus at the GSRTC depot in Gita Mandir....
More About: Time , Scrap , Wheels , Karo
Kanpur cannot be deprived of international cricket: Shukla
2008-04-18 05:37:00
It would not be all that easy to take away Kanpur's status as an international venue following an adverse report on its "poor" pitch provided for the third Test against South Africa, a top Uttar Pradesh cricket official said on Thursday. The five-day Test ended within three days, largely due to undue assistance to spinners from the pitch, with India winning by eight wickets to draw the series 1-1. Incidentally, the second Test in Ahmedabad had also ended inside three days, with South Africa winning by an innings and 90 runs."What about the Ahmedabad pitch? There too the match ended in three days," Rajeev Shukla, secretary of the Uttar Pradesh Cricket Association (UPCA), noted. Earlier on Thursday, the International Cricket Council (ICC) disclosed that its match referee Roshan Mahanama, who officiated in the series, had termed the pitch "poor" in his report and the ICC gave the Board of Control for Cricket in India (BCCI) 14 days to comment on it. Shukla, however, seemed confiden...
Kiri Dyes to list on April 22
2008-04-18 05:34:00
Shares of Kiri Dyes and Chemicals, an Ahmedabad based manufacturer of reactive dyes and dye intermediates, will be listed at the bourses on April 22, after the company received poor response from investors to its initial public offering, which was subscribed 1.43 times.The company entered the capital market on March 25, with a public issue of 3.75 million equity shares of Rs 10 each. It decided to issue the shares at cap price of Rs 150. The issue constituted 25% of fully diluted post issue paid up capital of the company. The equity shares are proposed to be listed on Bombay Stock Exchange of India (BSE) and National Stock Exchange (NSE). The book running lead manager to the issue is Centrum Capital.Kiri Dyes and Chemicals is a manufacturer of reactive dyes and dye intermediates. Its production hub is centrally located in the state of Gujarat viz., Ahmedabad and Vadodara and products are sold across Indian and global markets. The promoters of the company have 40 years of experience ...
More About: List
Kingfisher Airlines Launches Flights from Chandigarh to Mumbai & New Delhi
2008-04-18 05:27:00
Kingfisher Airlines , India`s first and only 5-Star airline, announced that it will be launching services on six new sectors and that it will add Chandigarh to the network of cities served by it. Effective April 14, 2008, Kingfisher Airlines will offer daily direct flights from Mumbai to Chandigarh. The launch of services to Chandigarh marks the launch of operations for Kingfisher Airlines in Chandigarh. Kingfisher Airlines willalso launch a daily direct flight between Mumbai and Ahmedabad. The flights on this new route will be operated using brand new Airbus A320 family aircraft featuring personalized in-flight entertainment on every seat, gourmet cuisine and world class service. Besides this, Kingfisher Airlines will also introduce services on 5 other routes. For the first time, it will offer a daily same day return flight between New Delhi and Chandigarh and a daily direct flight between Delhi and Goa. It will also add one more daily direct flight between New Delhi and Hyderabad t...
More About: Flights
Municipal school goes without water for a year
2008-04-17 12:32:00
The Bombay Housing Colony in Bapunagar which has six schools, has earned the dubious distinction of going without proper water supply for one full academic year. Leave alone drinking water, the 2,000 children attending classes daily had to go without water even in the toilets. The original school building was badly damaged in the 2001 earthquake and one of its wings was dismantled and several years later it was rebuilt under the Sarva Shiksha Abhiyan. The Abhiyan authorities had completed the building and handed it over to the Ahmedabad Municipal Corporation last year, leaving internal things like provision of water and drainage to the civic body. But rather than providing for a proper drainage to the school building and constructing an underground tank for water, all the AMC did was to dig a catch-pit for drainage of toilet blocks and install a pair of readymade water tanks on the roof. These tanks were connected with the toilet blocks and water closets in each floor through PVC pi...
More About: School , Water , Year
44 children die in bus plunge
2008-04-17 06:00:00
BAMROLI: More than 47 people, including 44 children heading to school for final exams, drowned yesterday when their bus plunged off a bridge into a canal in western India. Their bodies have been recovered, but some children were still missing, said a senior police officer in Gujarat state. Four children were rescued. The accident occurred in Vadodara, 90km south of Ahmedabad. Police said the death toll could rise.The state-owned public bus was carrying more than 60 children and some passengers from three villages in the region, officials said.They said the driver lost control after one of the tyres burst and ploughed through a concrete railing on the bridge, plunging the bus into the canal."I was sitting in the last seat and suddenly I felt the bus going down," said Sunil Thakore, 13, one of the few children who managed to swim to safety.Two boys, who swam to safety, alerted villagers that the bus had fallen into the canal, witnesses said.The driver of the bus, an assistant and a wo...
More About: Children
Daljit throws his weight behind Kanpur track
2008-04-17 05:59:00
Daljit Singh, the BCCI's pitch and grounds committee chairman, has come out in support of the Green Park Stadium wicket in Kanpur. "I am reasonably satisfied with the wicket, given the prevailing hot weather conditions," he said. "Do we want to play on prototype wickets? The wickets everywhere have peculiar characteristics; Kanpur has always been low and slow. What was different this time was the dryness, caused by excessive heat," he added. One could argue that the conditions in Ahmedabad weren't too different, so why were the two wickets so vastly different? It emerges that the Ahmedabad track had moisture and grass just to avoid the Kanpur-like dry wicket. Similarly, the outcry over the Ahmedabad wicket would have had some bearing on the preparation of the Kanpur pitch. Daljit admitted that none of the three wickets rolled out for the series were close to ideal Test tracks. "Neither of them were ideal wickets, but then we need helpful conditions, if not optimum, to prepare pe...
More About: Weight , Track
Talent crunch forces BPOs to Tier II cities
2008-04-17 05:56:00
NEW DELHI: The surge in real estate prices and a talent crunch in metros are forcing the $11 billion Indian BPO industry to move to Tier II cities in the country, according to a study conducted by consultancy firm Everest Group."It is difficult to sustain the growth in Tier I cities because of the rising real estate prices and talent crunch. There is no option but to move to Tier II cities," Everest Group's Country Head (India) Gaurav Gupta said.As of now, BPO industry is concentrated in seven cities namely Bangalore, NCR, Mumbai, Pune, Chennai, Hyderabad and Kolkata."Movement to lower-cost cities within India is likely to result in additional 15-30 per cent reduction in operating cost despite lower employability and higher management costs," Head of Global Services at Everest Research Institute, Nikhil Rajpal, said.Everest Group is a global consulting firm specialising in sourcing and offshoring advisory services. The study ranks several Tier II and Tier III cities on their potent...
More About: Cities , Talent , Crunch , Forces
Diamond workers tread the road to hell
2008-04-17 05:54:00
AHMEDABAD: Buyers of diamonds seem to be blissfully unaware of the fact that their priceless smiles, in reality, come for a price ? the sweat of thousands of employees working under inhuman conditions within locked doors, known as sweatshops.The sweatshops and the inhuman conditions prevalent in these came up for discussion at Gandhi Labour Institute here on Wednesday. GLI played host to a workshop on social security of diamond workers.Employers often close the factory doors in the morning once all the labourers begin work. The labourers are not allowed to come out during working hours even in case of emergency. During the Surat floods, thousands of labourers were trapped, killing hundreds, when they were unable to come out of their locked factories and shops.A recent study carried out revealed that 100 per cent of the diamond workers do not get any promotional or preventive benefits for social security. Nearly 43 per cent of the industry workforce suffers from ailments such as tube...
More About: Workers , Hell , Road , Diamond , The Road
Veeda CR plans new unit, to invest Rs 50 cr
2008-04-17 05:53:00
After opening India?s first clinical pharmacology unit (CPU) for renal patients, Ahmedabad-based Veeda Clinical Research has plans to set up of its new unit near SG Highway and acquire a small or mid-size company in the US. It will invest about Rs 50 crore in the coming few months for its expansion plan. The company now has units in Ahmedabad, UK, Belgium and Germany. The new unit will have 64 non-monitored beds and 24 monitored beds. Like other units, the second Ahmedabad unit will deal with Phase 1 trials. Phase 1 clinical trials involve testing of new drug or treatment in a small group of people for the first time to evaluate its safety, determine a safe dosage range and identify side effects. ?Phase I clinical trails account for 60 per cent of our revenues. The growth in Phase I clinical trials is due to increasing food, drug and QTc studies across the world,? said Apurva Shah, Veeda Clinical Research group managing director. Bio-markers and Bio-Metrics are other revenue earni...
More About: Plans , Invest , Unit
Insurers in brokerage bring poaching fears
2008-04-17 05:42:00
Optima?s Rahul Aggarwal says Indian market isn?t ready for the moveChennai, April 16 The Insurance Regulatory and Development Authority (IRDA) recently permitted general insurance companies to start their own brokerage outfits. To understand how this would impact existing brokers in the general insurance industry, we mailed Mr Rahul Aggarwal, CEO of Optima Insurance Brokers, for his views. Mr Aggarwal has a bachelor?s degree in pharmacy and is an alumnus of IIM-Ahmedabad. Optima Insurance Brokers specialises in construction, infrastructure development policies, employee benefits, marine and liabilities policies, and was amongst the first private players to enter the sector after private participation was allowed in 2000. He is critical about the attempts made by insurance companies to poach their clients. And although he expresses optimism about growth in the current fiscal, he sounds a bit sceptical of any changes immediately. The IRDA has recently permitted general insurance com...
More About: Brokerage , Fears
Talent crunch forces BPOs to Tier II cities
2008-04-16 20:05:00
NEW DELHI: The surge in real estate prices and a talent crunch in metros are forcing the $11 billion Indian BPO industry to move to Tier II cities in the country, according to a study conducted by consultancy firm Everest Group."It is difficult to sustain the growth in Tier I cities because of the rising real estate prices and talent crunch. There is no option but to move to Tier II cities," Everest Group's Country Head (India) Gaurav Gupta said.As of now, BPO industry is concentrated in seven cities namely Bangalore, NCR, Mumbai, Pune, Chennai, Hyderabad and Kolkata."Movement to lower-cost cities within India is likely to result in additional 15-30 per cent reduction in operating cost despite lower employability and higher management costs," Head of Global Services at Everest Research Institute, Nikhil Rajpal, said.Everest Group is a global consulting firm specialising in sourcing and offshoring advisory services. The study ranks several Tier II and Tier III cities on their potent...
More About: Cities , Ahmedabad , Nagpur , Jaipur , Talent
City to get six more fire stations
2008-04-16 05:31:00
AHMEDABAD News : Fighting a factory fire in Naroda industrial estate or attending to building collapse in Sarkhej proved nightmare for the city's firemen. A considerable amount of time went in negotiating city's gruelling traffic. This would, however, not be a case anymore, as the city would get seven more fire stations, four of which would be in place by the end of this year. To start with, the city will get four new fire stations in Aslali, Naroda, Sola and Vastral area. The fast developing residential Chandkheda area and Sarkhej too will find a fire station nearby by the middle of next year. Each of these fire stations would come up at the capital cost of Rs 11 crore, according to Ahmedabad Municipal Corporation (AMC) officials. Senior officials say that if an incident happens in Sarkhej, it takes 10 to 15 minutes to reach the spot after the fire tender gets deployed from Jamalpur fire station. This time will be reduced to five minutes with a fire station coming up at Makar...
More About: Fire , City
The golden batch of 1987
2008-04-16 05:27:00
The batch of 1987 at the Indian Institute of Management, Ahmedabad has probably produced more chief executive officers in the financial sector than any other batch. Those who made this batch prestigious include former IMF chief economist Raghuram Rajan, ICICI Foundation president Nachiket Mor, IDBI Fortis Insurance CEO GV Nageswara Rao (featured alongside). The batch also produced several CEOs in the MF industry including DSP Merrill Lynch?s S Nagnath, ABN Amro AMC?s Nikhil Johri and Bharti Axa MF?s Sandeep Dasgupta.Top deck shuffleReliance Capital is under focus again with the change in leadership. After a series of denials the group has finally acknowledged that Sam Ghosh, former MD of Bajaj Allianz Life Insurance will be joining as CEO. Now the grapevine is that Mr Ghosh will be bringing in new people into the company for expansion in new businesses and new geographies. Meanwhile, the company which has offices scattered around the city will be moving into its new headquarters at ...
More About: Golden , Batch
Creamy layer: Institutes show way on income limit
2008-04-16 05:19:00
While the government is involved in getting an idea of what constitutes the creamy layer among other backward classes (OBCs), educational institutes have been upwardly revising the income limit to determine the students who need scholarships. While at present, OBCs whose income is Rs 2.5 lakh per annum or above cannot avail of reservations in central government jobs, the income limit for students eligible for scholarships in educational institutions is being revised upwards. For example, till last year, IIM-Ahmedabad was giving scholarships to students whose maximum household income was less than Rs 2 lakh. But with the institute deciding to increase its fees recently, Chairman of the IIM-A governing council, Vijaypat Singhania, said they were increasing the limit to Rs 6 lakh. This would enable more students avail of scholarships in the wake of the institute almost trebling the fees for its flagship two-year post-graduate (PGP) management programme from Rs 4 lakh to Rs 11.5 lakh...
More About: Show , Income , Layer , Institutes
Smith confident of repeating Ahmedabad success
2008-04-16 05:16:00
Kanpur: Sounding a note of warning to the hosts, South African captain Graeme Smith on Thursday said that they would go into the third Test here on Friday with a well thought-out plan to prevent the Indians from equalling the three-match series. Sounding too confident of his boys, Smith said his team had made definite plans and this time they would play even better than what they had in Ahmedabad where they had handed an innings defeat to Team India. Addressing a press conference here before the practice session at the Green Park stadium, the Proteas skipper admitted that like the Aussies, the Indians are a tough team to beat in their homeground. ''But we have done this in this sub-contitent by beating Pakistan, Bangladesh and now India,'' he pointed out. Setting aside the controversy ranging around the condition of the pitch, the SA skipper said such things happened and the homeside always got the benefit. '' Our boys are focused to perform to their best and things will chan...
More About: Success , Anil Kumble
Grievances against private banks rise 33%
2008-04-16 05:10:00
MUMBAI: Although most complaints with the banking ombudsman are against public sector banks, private and multinational banks are seeing larger growth in customer grievances on an incremental basis. Data published by the Reserve Bank of India (RBI) indicates that majority of complaints were related to credit cards.According to data released by RBI, complaints against Nationalised banks have risen by 4%, last year. State Bank, whose technology upgradation last year caused some changeover problems, saw its complaints rise by 12%. However, the share of private and foreign banks in customer complaints has been growing much faster than their share of overall business. For instance, complaints received against private and foreign banks in 2006-07 rose by 33% and 26%, respectively, compared with complaints received a year ago.Nationalised banks, followed by the State Bank group, received bulk of customer complaints in 2006-07, while co-operative banks accounted only for 1% of the total numb...
More About: Banks , Bangalore , Hyderabad , Bhopal , Jaipur
Two killed in Gujarat road mishap
2008-04-15 08:41:00
VADODARA: Two persons were killed and 20 others, including eight Pakistani nationals, injured when their bus fell into a river in Gujarat 's Mehsana district Monday. The mishap took place when the bus hit the railing of a bridge and fell into Khari river, Mehsana district police said. The bus, belonging to Rajasthan Transport Corporation, was on its way to Ahmedabad from Jodhpur. Police said that that the injured Pakistani nationals were on their way to Ahmedabad to catch a flight to Pakistan and they belonged to Karachi. The injured were admitted to a hospital at Mehsana, police added.(News by punjabnewsline.com)
More About: Breaking News , Road , Killed
Kingfisher launches five new flights
2008-04-15 08:33:00
New Delhi: Kingfisher Airlines on Monday launched five new flights to various destinations across the nation. The airlines launched its daily Delhi-Chandigarh- Mumbai flight, from New Delhi to Goa and Hyderabad, from Mumbai to Ahmedabad and from Chennai to Coimbatore. It had also increased the frequency of its Delhi-Hyderabad flight to thrice daily. "There were a number of travellers, be it business or holidays travellers, to Shimla and other hill stations, who were facing problems to visit Chandigarh. This flight (Delhi-Chandigarh-Mumbai) will provide them a better option," airlines' Vice-President (Global Sales) Siva Ramachandram told reporters at the launch of flight to Chandigarh. We are expecting 70 per cent occupancy in our flights, which may increase during the holidays, he added. The inaugural flight to Chandigarh was welcomed by Governor of Punjab S F Rodrigues, who is also the Administrator of Union Territory Chandigarh. "Through the launch of these new routes, the...
More About: Flights
Pride Hotels plans 5.95 million share IPO
2008-04-15 08:26:00
MUMBAI: Pride Hotels Ltd is planning an initial public offering of 5,950,000 equity shares of Rs 10 for cash at a price to be determined through the book building process.The shares will be listed on Bombay Stock Exchange and National Stock Exchange.The issue comprises a net issue of 5,900,000 shares and a reservation of 50,000 shares for employees. The issue and the net issue constitute 22.39 per cent and 22.20 per cent respectively of the fully diluted post issue paid-up capital.Funds raised from the IPO will go in meeting the costs of construction of new projects in Mumbai, Alibaug, Goa and Bangalore, as well as expansion and renovation of existing hotel property at Pune, Ahmedabad and Nagpur.The book running lead manager to the issue is Edelweiss Capital.The company?s property in Chennai is now fully operational. Catering to business executives at the middle and senior management levels, it boasts 115 rooms, a coffee shop, restaurant and two banquet halls. The property is spread...
More About: Plans , Share , Million
Their son died and kept his promise to come back!
2008-04-15 05:41:00
AHMEDABAD: Aavado... Aavado... Aavado ... the two-year-old Rakesh directed his father PJ Chaudhary, who was backing his car into the driveway of his bungalow in Thaltej.Impressive for a boy of his age. But for Chaudhary, Rakesh is no ordinary boy. "My son has beaten death to return to me,"said Chaudhary.April 29, 2005, was a black day for the Chaudharys. "Rakesh (13) was riding pillion as my elder son, Kuldip (16) was driving a scooter to their tuition class. The vehicle skidded and they fell down. Kuldip escaped with minor injuries as he was wearing a helmet. Rakesh sustained multiple head injuries and slipped into a coma. He died five days later.But a couple of hours before Rakesh?s end came on May 3, Chaudhary had to rush back home from the hospital to attend to his wife, Maniben, who started hallucinating. Sedatives did not have any effect. She told her husband that Rakesh stood before her and wanted to bid adieu. The son promised to return if she sent him away with a smile....
More About: Back , Died , Promise
Ganguly banking on Umar Gul in Shoaib's absence
2008-04-15 05:39:00
Kolkata, With speedster Shoaib Akhtar 's chances of playing in the Indian Premier League looking dim, Kolkata Knight Riders skipper Sourav Ganguly is banking on another Pakistani pacer, Umar Gul, to deliver the goods in the tournament beginning on April 18."Umar Gul is in our team. He will serve us well," Ganguly told newspersons here when asked about the Rawalpindi Express' absence from his side.Shoaib is fighting a five-year ban slapped on him by the Pakistan Cricket Board and the IPL authorities made it clear that the speedster would not be allowed to play unless he gets the ban lifted.Meanwhile, Ganguly, who shone with the bat in the third and final Test against South Africa, said he would have no problem adjusting to the Twenty20 format of the IPL."I'll get to the Twenty20 mode once I practise for a couple of days," he said soon after landing at the NSC Bose International Airport.Ganguly also did not foresee any difficulty in captaining a mixed team comprising stars from vari...
More About: Banking , Sourav Ganguly
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