Corporate Organizations and Industry

Indian pharmaceutical company Sun Pharma is involved in a legal battle for the takeover of Israeli pharmaceutical company Taro. New York-based   investment   banking   firm Guggenheim Securities on May 27, 2010 offered to buy out Sun Pharma's stake in Taro on behalf of its clients. Sun declined to accept the offer. Sun Pharma and Taro have been locked in a cross-country legal battle, ever since Taro unilaterally terminated the agreement between them, a year after it was formalised in May 2007.

Currently, Sun Pharma is the largest shareholder with 36% equity in Taro acquired at a cost of $110 million. A decision on the validity of termination of the merger agreement by Taro is still pending before the Israel Supreme Court.

Taro promoter Barrie Levitt and family hold 12 per cent shares and by the Israeli law, they still command about two-third voting rights on management decisions. Sun has to acquire another 12 per cent shareholding of the promoter family to gain management control of Taro.

BT, formerly known as British Telecom, was on June 3, 2010 appointed consultant to Indian Institute of Science (IISc), Bangalore to help develop software for testing telecom equipment for the presence of for spyware or malware that could be a possible security threat.

Once the laboratory is set up by the National Informatics Centre (NIC), India will have the capacity to test equipment, instead of depending on global testing agencies.

The development comes at a time when Chinese telecom equipment providers, Huawei and ZTE, are facing security issues in launching their products in India following a home ministry directive.

The Marico Innovation Foundation's 'Innovations for India Awards' for 2010 were presented on May 17, 2010 in Mumbai. Following is the list of winners.

Business - Reliance Industries Ltd: Deep Water Oil and Gas Exploration (KGD6) and Tutor Vista Global Pvt Ltd Business for Social - Tata Chemicals Ltd & TERI Social - GOONJ and PRS Legislative Research Public Service - Government of Gujarat: Jyotigram Yojana-Power and Irrigation Reform and Defence Institute of High Altitude Research (DIHAR): Innovation in Ladakh

Bharat Petroleum Corporation (BPCL) Chairman and Managing Director Ashok Sinha put in his papers on May 18, 2010 seeking premature retirement more than a year ahead of his superannuation

NTPC tagline Transforming Lives' unveiled: P. Uma Shankar, Secretary, Power, unveiled the NTPC tagline Transforming Lives in New Delhi on May 17, 2010.

Jaypee Infratech, which came out with an IPO recently, listed on the Bombay Stock Exchange on May 21, 2010. The company which is a subsidiary of the diversified business group Jaiprakash Associates, plans to utilise Rs 1,500 crore for developing the Yamuna Expressway.

The Hinduja group has acquired the Brussels-based KBC group's dedicated private banking subsidiary, KBL European Private Bankers (KBL epb), for $1.69 billion. The Hinduja group already owns Hinduja Bank Switzerland, a private bank active across Europe, the Middle East and India. In India, the Hinduja group is the promoter of Induslnd Bank, conceived by SP Hinduja, the Chairman.

Samsung will sponsor the Indian contingent for the Asian Games to be held in Guangzhou, China, from November    12 to 27,  2010. A 'memorandum of understanding'   (MoU) was signed between the Indian Olympic Association (IOA) and Samsung India on May 17, 2010. As per the agreement, Samsung will support 10 prominent sports persons in the run up to the Asian Games, as was done through the Olympic Ratna programme for the Athens and Beijing Olympics.

The passage deals with the positive effect of Coke's deal with Parle Exports. This statement, used in conjunction with Ramesh Chauhan's decision, can be described as giving boost to the multinational's operation in India. So, option (3) is correct. 

Indian railway is the perfect example of monopoly created by government. In monopoly created by government, only one firm exists and there is barrier to entry to the new firm. Sole cable operator in any area, basmati rice, buses on roads do not enjoy this privilege.

The committee headed by Dr. R.N. Malhotra recommended the privatisation process in the insurance sector. The Chelliah Committee is concerned with tax reforms, the Khan Committee with banking sector reforms and the Chore Committee with review of cash credit.

BHP is a major multinational mining, metals, and petroleum public company, widely recognized as one of the largest mining companies in the world.

Mahindra and Mahindra acquired the Kinetic Motor Company's two-wheeler business in 2008.

This is the correct answer. IRDA started granting licenses to private players in Insurance sector and it has seen considerable expansion since then.

This is the correct answer. Direct to Home is a satellite based media service provided by the cellular companies.