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Samtel
eyes plasma panel technology, says Satish Kaura Dr
Reddy’s infringed on Pfizer patent HC
restrains Haryana firm from copying trade mark |
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BoB
manager gets 2-yr RI Graphic: PRODUCTION OF PULSES
Open sky
policy a ‘threat’ to national carriers
Shares purchased after April 1, ’03 are tax free
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Samtel eyes plasma panel technology, “Plasma Panel technology is the emerging technology in the world of consumer electronics and we are the first company in India to develop this technology
indigenously’, Chairman of the Rs 1250 crore Samtel Group, Satish Kaura, said in an interview. The initiative was taken three years back to start work on plasma panel development with the setting up of a laboratory for this purpose. “The prototypes of the products is likely to be ready in the next three months after which the company plans to go in for a pilot project for the same”, Mr Kaura said. He believes that there is going to be a substantial increase in demand for plasma technology in the coming months. “Presently, plasma TVs, which are available in India cost about Rs 4 lakh each. With increased production capacity and price decline due to higher volumes, we would be looking at exports markets initially for plasma panels”, he said. Samtel is the largest integrated colour picture tube player in India and a market leader in the CPT market with a market share of 38 per cent. The company has a total production capacity of 5.5 million tubes per annum and supplying tubes to major television brands such as LG, Onida, Samsung, Videocon and BPL. “We have developed the capability to design sophisticated machinery on our own. With marginal investments, the company has taken up the capacity in one its production lines from 0.5 million to 1.5 million. We have independently designed and set up line II with a capacity of two million 14 inch CPTs”, he said. The market for super flat TVs and the subsequent demand for tubes is expected to show strong growth in the near future. “Being the only domestic manufacturer of these tubes, Samtel is favourably placed for higher growth”, he said. An alumnus of IIT Kanpur and Carleton University Canada, Mr Kaura was awarded the Padma Shri by the Government for his distinguished services to the nation in the field of Science and Engineering. He said that the company has strong R&D infrastructure and “will continue its efforts to develop product technologies indigenously”. “The 12 patents for display technology processes showcase the amount of time, efforts and money Samtel invests in R&D efforts. We have successfully designed 20 inch colour picture tubes along with super flat TV tubes and is in the process of developing 29 inch
TV tubes for future expansions”, he said. He said that the company has set up a hi-tech, third line of production, with a capacity of 2.2 million 21 inch super flat TV tubes per annum on its own. “The company has developed and designed sophisticated machinery at its plant II and III. We have relied increasingly on automation to produce world-class products. The new line of production is highly automated with world-class facility and comparable with the best in the world”, he said. The company also manufactures all its critical raw material components such as electron guns, metal parts, glass funnels and deflection yokes in house. Further it is also developing in-house manufacturing facility for CPTs also, Mr Kaura said. The company has also implementing an enterprise resource planning (ERP) programme. The first phase of the project, comprising of financial transactions, costing, material transactions, marketing transactions, customer service and others is expected to go live on April 1, 2004. “In the fast changing market scenario a tool such as ERP would be really useful in streamlining automated processes for vendor management and scheduling in-line with market demand. With the implementation of the ERP, Samtel will stand on the same systems platform as many of its overseas competitors who are already onto ERP”, Mr Kaura said. The second phase of the ERP programme will manager the issues of product life cycle management, connectivity with customers and suppliers, supply chain management, interface with CAD for collaborative design with group companies, suppliers and research institutions and employee self service, he said.
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Dr Reddy’s infringed on Pfizer patent
New York, February 28 The ruling, which leaves Pfizer’s patent on Norvasc intact until 2007, could set a precedent for big drug companies seeking to stop revenue from slipping away to makers of generic drugs. ‘’It certainly looks to be a positive for Pfizer and the industry,’’ said analyst Robert Hazlett of SunTrust Robinson Humphrey. Dr Reddy’s stock fell nearly 13 per cent after the U.S. Court of Appeals for the Federal Circuit in Washington found that the lower court in 2002 was incorrect in ruling that Pfizer’s patent for Norvasc should not prevent Dr Reddy’s from selling a slightly altered version of the drug. “We conclude not only that the extended patent term includes the claims that cover Dr Reddy’s product, but also that the dismissal was improperly granted,’’ the appeals court wrote in reversing the lower court’s decision. Dr Reddy’s has not seen a big product launch for nearly two years and investors had hoped a victory would boost revenue and profits for India’s only drugmaker listed on the New York Stock Exchange. The Indian drugmaker expressed surprise and disappointment over the decision. “Despite today’s ruling, we remain committed to investing the resources to create a sustainable U.S.-based business of specialty products and new chemical entities as well as generic medicines,’’ Dr Reddy’s Chief Executive GV Prasad said in a statement.
— Reuters
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HC restrains Haryana firm from copying trade mark
New Delhi, February 28 Mr Justice R.C. Chopra, in an ex parte interim order, directed Faridabad-based VIP Pharmaceuticals Pvt Ltd not to market its medicinal preparation BETAMETHASONE using identical strip of BETNESOL in which the pharmaceutical major has copyright and common law right. GlaxoSmithKline’s counsel Man Mohan Singh had alleged that VIP Pharmaceutical adopted the deceptively similar trade mark and packaging for its product with the dishonest intention of confusing the consumer that the product was coming from the house of pharmaceutical major. The copying of packaging, including the strips colour scheme, features, get-up and lay out of BETNESOL, amounted to unfair competition by the Faridabad-based firm, he submitted. GlaxoSmithKline used the trade mark BETNESOL for a range of products including skin ointment, injections, tablets, eye/ear/nose drops in distinctive packaging.
— PTI |
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BoB manager gets 2-yr RI
New Delhi, February 28 Chief Metropolitan Magistrate Reena Singh Nag found John WMR Laithphlang (the then BoB manager at RML Hospital Extension Branch here), accomplices Raj Kumar and his wife Poonam Verma guilty of duping the bank of Rs 2,82,300 lakh. Laithphlang had cheated BoB of crores of rupees between 1986 and 1990, CBI counsel A.K. Singh said, adding that out of the 14 cases against him, he was convicted in 13 cases, including the present one. He has been in jail since April 24, 2000 serving punishment in other cases, the counsel said.
— PTI
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IPCL issue fixed at 170
New Delhi, February 28 The government fixed a floor price of Rs 170 for the issue, which was oversubscribed 4.8 times, where retail investors were promised a 5 per cent discount on the discovered price.
— UNI
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Shares purchased after April 1, ’03 are tax free
Q: Shares bought after 1st April, 2003 are totally exempt from tax if sold after the one year holding, in this year’s budget. Is this correct? What about shares bought a long time back? Are they now totally exempt from tax? — Kaizad Vajifdar A: Yes, shares bought after 1.4.03 are totally exempt from tax on long-term capital gains if sold after one year holding period. This exemption will be restricted to only those shares figuring in the BSE-500 index as on 1.3.03. If, during the course of the year, any of these shares are replaced with another stock in the index, investors who had purchased the share prior to its replacement will continue to enjoy the benefit. Since the word used is purchased, the benefit is not available to bonus shares, even if these are issued by the BSE-500 companies and even if they issued during the specified period. The benefit is also extended to shares of companies making Initial Public Offers during the year. One objection. Since the long-term gain is tax-free, the long-term loss arising out of such shares cannot be setoff against any gains. Still one more objection. If gains on equity are tax-free, why not those on equity MF schemes? These are after all pass through vehicles and for all practical purposes represent the collective investments of the investors. The rule is obviously not applicable to shares bought prior to 1.4.03. These will continue to attract tax as before. The dividend from shares and units of MF schemes is tax-free in the hands of the investor. The company and MFs will have to pay distribution tax @12.5 per cent on the dividend distributed. The equity-based schemes of MF are exempted from this tax for one year. Q: I have a question regarding capital gain tax. Union Budget 2003 has proposed that no long term capital gains tax will arise on BSE 500 securities, purchased between March 1, 2003 and February 28, 04. Now, my question is i) if any security purchased within this timeframe causes long term capital loss, will this loss be just ignored or there is some way to set off the loss? ii) If any security purchased before this period causes long term capital loss, will this loss be allowed to be carried forward for the next years, if it cannot be set off in the current year? — Nilay Hazra A: If the gain is exempt, so is the loss. In other words, the loss is lost and it has to be ignored. Since the security purchased before this period is not exempt, the loss can be set off against gains as per laid down principles. Q:
My wife, a taxpayer, has, through oversight, forgotten to deposit any money into her PPF account with SBI during F-2003. Now, she wants to deposit (1) Rs. 70,000 for F-2003, (2) Rs. 50 as penalty, and (3) Rs. 70,000 for F-2004. SBI agrees to (2) and (3). As for (1), it says that only Rs 500 (which is minimum compulsory) can be deposited for F-2003. Is SBI’s contention correct? I shall be grateful for your views. — Bakul Sheth A:
SBI is right. The rule states, “… on payment, for each year of default, a fee of Rs 50 along with arrear subscription of Rs 500 for each year. Please note that though she has contributed Rs 70,500 during the current year, she can claim rebate only on Rs 70,000. This is the ceiling imposed by Sec. 88. In case she had deposited Rs 69,500 for the current year, she can claim rebate on full Rs 70,000 though the Rs 500 is a contribution made during the current year for default of last year. The author may be contacted at anshanbhag@yahoo.com |
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ATM at SBP rural branch New HAIC chief Jewellery mall United Bank Unichem Lab Crompton Greaves National seminar ING Vysya MF |
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New Delhi, February 28