Bizbits — SSI investment limit hiked

NEW DELHI: The investment limit in plant and machinery for manufacturing units in the small scale sector has been raised to Rs 3 crore from...

NEW DELHI: The investment limit in plant and machinery for manufacturing units in the small scale sector has been raised to Rs 3 crore from Rs 60 lakhs. An official notification to this effect has been issued by the ministry of industry.

The ceiling for ancilliary units has been fixed at Rs 3 crore. An ancilliary unit can not be a subsidiary owned or controlled by any other industrial undertaking. By definition an ancillary unit can not supply more than 50 per cent of its production to other units, the circular says. For calculating the value of the plant the machinery will be valued at the original price irrespective of the age of the machinery.

Dossa new FIAA vice president

MUMBAI: Nitin Dossa, president, Western India Automobile Association, has been elected as the vice president of the Federation of Indian Automobile Association (FIAA) for 1997-98 and 1998-99 at the Council meeting of the federation held on Saturday. K Ravindran is the president of the FIAA and is also the president of the Automobile Association of Southern India at Chennai.

Mudra to launch brand festival

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MUMBAI: Reach Direct & Promotions, one of the leading direct marketing and sales promotion companies in India and a division of Mudra communications Ltd is organising Maha Utsav – a festival of brands to be held in over 40 cities across India. Maha Utsav will be an 80-day marketing event starting December 26, 1997 to March 15, 1998, said a press release. The venues of the event will range from Amritsar in the North to Thiruvananthapuram in the South, Rajkot in the West to Asansol in East.

Godrej not to buy P&G brands

MUMBAI: Godrej Soaps will not buy back the two detergent brands `Trilo’ and `Ezee’ which have been put on the block by Procter and Gamble (P&G). “The Godrej Soaps board (had once) made a conscious decision to sell these brands to P&G. Now we don’t want to buy them back,” Godrej Soaps director Jamshyd Godrej said.