The management of Garware Paints under PRA headed by Mr. P. Rajarathinam has been stopped from completing its mandatory open offer by a few shareholders of the company who have obtained a stay from the Bombay High Court. The PRA group, which took over Garware Paints in November 1994 after buying out the promoter, Mr. Chandrakant Garware’s equity stake of 17 per cent, has been told by SEBI to make an open offer following the deal. The offer price was Rs. 40 per share.

AP issue: PM tells partymen to show restraint

The Prime Minister, Mr. P. V. Narasimha Rao, today asked Congressmen to exercise restraint and avoid making comments on the political developments in Andhra Pradesh. “Constitutional authorities should be left to take decisions independently in accordance with the Constitution and the case law,” he said, addressing a meeting of the Congress(I) Parliamentary Party (CPP) this morning.

Deliberations begin on trade systems in South

Kerala is going all out to encourage new business and industry, as it is perpetually short of consumables and depends on Andhra Pradesh, Tamil Nadu and Karnataka for every consumer item, according to the Minister for Food and Civil supplies, Mr. K. K. Ramachandran Master. He was inaugurating the Southern Regional Trade Conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here on Saturday. The theme of the conference was “New horizons for distributive trade and policies for an efficient distribution system”.

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