Novartis receives High Court approval for demerger of Agribusiness

The High Court of Judicature at Bombay today (September 13,2000 demerger) of Novartis India's Agribusiness comprising Crop Protection chemicals and Seeds business into a seperate company Novartis Agribusiness India Private Ltd. which has been renamed Syngeta India Private Ltd. Both companies will now commence steps to implement the court order.

Abbey National plc to take equity stake in Tata Homefinance

Tata Finance Ltd has informed BSE that the company has entered into a Memorandum of Understanding (MOU) with Abbey National plc. of the United Kingdom (UK) for an equity investment by Abbey National plc of the United Kingdom (UK) for an equity investment by Abbey National in Tata Homefinance Ltd (THL) which is presently a 100% subsidiary of Tata Finance Ltd. Abbey National is the UK's fifth largest bank in terms of assets. This company provides a broad range of banking services including retail banking, treasury and wholesale banking life assurance to business services and general insurance. The MOU envisages creation of a premier housing company in India by allowing Abbey National to participate in the equity share capital of THL will ultimately have an equity capital of Rs 1000 million out of which TFL and its associates will hold 51% and Abbey National will hold 30%. Negotiations are on with a multilateral agency for investment of the balance 19% in THL. The proposed joint venture and the equity participation will be subject to all statutory and legal compliances.

Infosys to consider alliance with Microsoft

Infosys Technologies Ltd has informed BSE the company will hold a joint press meet with Microsoft Corporation on September 14, 2000 at the Maurya Sheraton Hotel and Towers New Delhi to announce a new alliance.

ICICI announces strategic alliance with Rediff.com

ICICI Ltd., India's leading financial intermediary, announced on September 13, 2000 that it will enter into a strategic alliance with Rediff.com India Ltd., one of India's leading Internet portals focusing on India and the global Indian community, to mutually strengthen and enhance their positions in the Internet space in India. The alliance involves a multi-layered strategic relationship. Under the terms of the agreement, Rediff.com will take a ten percent (10%) equity stake in www.traveljini.com and a five percent (5%) equity stake in www.billjunction.com - in an all-cash transaction. Furthermore, both the above mentioned Internet properties will be exclusive channels for travel and bill payment on the Rediff.com website. These properties will be paying channel partnership fees for being an exclusive channel partner in the above mentioned categories. The arrangement is intended to benefit both parties - both web sites, Billjunction.com and Traveljini.com, will get an instant entry to Rediff.com's large customer base and Rediff.com users will gain immediate access to two valued online services. www.traveljini.com is a comprehensive travel planning and booking site launched by ICICI in June 2000. www.billjunction.com, which allows customers to receive utility and other bills on the Internet itself and then allows them to make payments online, was launched by ICICI in May 2000.

Wipro announces strategic alliance with Citrix Software

Wipro, India's Number one information technology company announced on 12th September, 2000 its strategic alliance with Citrix Software Ltd, a global leader in application server software and services, to deliver server-based computing solutions to large enterprises throughout India. Citrix has named Wipro Infotech its first Gold Level Partner in India under its CSN (Citrix Solutions Network) business program. The alliance will give the Indian Corporate market instant access to Citrix products from Wipro Infotech Enterprise Products Division across the country through Wipro's mature and efficient network. As a CSN Wipro Infotech will provide consultation, installation, integration and support for the Citrix application server product line, which offers a high performance, cost-effective way to deploy, access and manage business-critical applications throughout the enterprise. Citrix Systems has established an Indian subsidiary recently and has emphasized its commitment to the India market in terms of making available their latest products, services and support. Through the alliance Wipro will receive training and support on market development programs from Citrix, to enable delivery of advanced assistance and integration services for large enterprise customers, many of whom rely on Citrix's application server software for their computing needs.

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