Punj Lloyd wins civil construction project in Hirco SEZ

Punj Lloyd Ltd said it has won a contract for construction of two commercial buildings in a township being developed by the Hirco Group at its special economic zone at Panvel, in Maharashtra.

The township, Hiranandani Palace Gardens, is a part of Hirco's Panvel SEZ in Maharashtra and is expected to be completed within 24 months.

"The contract entails the construction of two commercial buildings and a podium, adding up to a built-up area of about 2 million sq ft. The first of the two buildings will be completed within 12 months," Punj Lloyd said in a statement.

Hiranandani Palace Gardens is a mixed-use township project, which will boast world-class residential complexes, offices, educational institutions, healthcare facilities, etc, once complete, it said, adding that the commercial towers will be built near residential apartments.

The project is situated near the recently announced Navi Mumbai International Airport and is easily accessible by road and rail.

On Tuesday, Punj Lloyd ended 0.28% up at Rs107.80 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.02% down at 20,025.42 points.


Surya Pharmaceuticals arm buys US-based ActivOn

Chandigarh-based Surya Pharmaceuticals Ltd said its subsidiary has acquired US-based over-the-counter analgesic drug manufacturer ActivOn for $22 million (about Rs99 crore).

"Surya Pharma's wholly owned subsidiary, Surya Pharmaceutical (Singapore) Pte Ltd, has acquired ActivOn, a leading OTC (over-the-counter) analgesic drug brand in the USA, with global marketing rights," the company said in a filing to the Bombay Stock Exchange (BSE).

The acquisition was financed through a mix of internal accruals and debt from EXIM Bank, the filing added.

Through the acquisition, Surya Pharma will be able to market its products in the US through ActivOn's established marketing network, which includes leading retailers like Walmart, Walgreen, CVS, Rite Aid, etc, it said.

On Tuesday, Surya Pharma gained 5% to Rs30.45 on the BSE, while the benchmark Sensex closed 0.02% down at 20,025.42 points.


I fully co-operated with the CBI: Raja

Chennai: Former telecom minister A Raja, who is likely to be quizzed again by the Central Bureau of Investigation (CBI) as part of its probe into the second generation (2G) spectrum allocation scam, today said he had “fully co-operated” with the probe agency during his two-day questioning in New Delhi last week, reports PTI.


“I have fully co-operated with the CBI,” he told reporters here on his arrival at the airport here from Delhi, two days after the agency grilled him.


The 47-year-old DMK leader declined to divulge any details about his questioning.


Mr Raja had appeared before the CBI in response to a 20th December notice summoning him; days after his residences in New Delhi and in Tamil Nadu were searched by the agency.


On 24th December, he was questioned for nine hours on the controversial advancing of dates for allocation of spectrum and alleged funding of some of the telecom companies by his kin. The next day, CBI sleuths also focused on the tapped conversation of Mr Raja with corporate lobbyist Niira Radia.


Sources have said that Mr Raja is likely to be quizzed again as he failed to give satisfactory answers to queries on the advancement of dates and the funding of some of the telecom companies.


Mr Raja was forced to resign on 14th November from the Union cabinet in the wake of a Comptroller and Auditor General (CAG) report which held that the spectrum allocation at undervalued prices resulted in a notional loss of Rs1.76 lakh crore to the exchequer.




7 years ago

Raja tried all the ricks in the book claiming innocence first then pointed at the PM. With 2G becoming very hot both his beloved leader as well as Madam washed their hands off him. Then Raja ' co-operated' with the CBI. For the sake of the country and the post he held the nation would really appreciate him if he turns an approver bring to light the modus oprandi of the scamsters to siphon off a sum equivalent to our defence budget.

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