Share sale stands: Atul Choksey

The sale of 35 lakh shares worth Rs. 127 crores (8 per cent of total equity) of Asian Paints (India) Ltd by Mr. Atul Choksey, one of the original promoters of the company, stands. This was stated by Mr. Atul Choksey, while commenting on the apparent reluctance to finalise the deal by Capital International and Morgan Stanley, the buyers. Capital International was to pick up five per cent and Morgan Stanley three per cent. Mr. Choksey, speaking to newspersons today, said he “could enforce the deal on DSP Merrill Lynch”, which brokered it and added that he had not yet reviewed the situation following the refusal of the FIIs to pick up the shares.

Prahalad mantras enthral Indian CEOs

The inauguration of the 24th National Management Convention here on Friday was dominated by Prahaladspeak! Everyone was there to listen to the management guru, Prof. C.K. Prahalad, and all else paled into insignificance. Seats were hard to find and a few CEOs were even sitting on the aisle. To excel in the 21st century, CK (as he is popularly known) offered no easy answers. But he took the Indian bull by the horns, as it were, and exhorted Indian CEOs to be “obsessed with opportunities and not paralysed by problems”.

Export air cargo to be cleared in 12 hours

The first meeting of the Export Promotion Board (EPB), set up at the in jtiative of the Prime Minister, Mr. I.K. Gujral, today kickstarted inter-ministerial coordinations by resolving to initiate immediate steps for clearance of export air cargo within 12 hours and import cargo by air within a maximum of 24 hours.

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