Carnation Auto, promoted by Jagdish Khattar, former chairman and managing director of Maruti Suzuki, has signed a joint venture pact with the Variety Group to set up multi-brand auto solution hubs in Andhra Pradesh.

The venture would offer service and maintenance, sale of secondhand cars, insurance services, and accessories i. e. all services under one roof. The company, in near future, has also plan to sell new cars.

Under the arrangement, Carnation would hold a 51 per cent stake in the latest JV while Variety will hold the remaining stake in it.

After many delays, Videocon Industries, an India-based electronics goods manufacturing company has finalized April 27 as launch date of DTH services with the name of 'D2H+'.

It may be noted that the company is entering the DTH space in India in the presence of other competitors like Dish TV, Sun TV, Doordarshan, Tata Sky, Big TV and Airtel.

According to sources close to the development, the company will launch integrated digital televisions (iDTVs) and set top boxes (STBs) with 4-5 subscription options. The company is planning to sell 70-80 per cent IDTVs and 20 per cent STBs.

Mumbai-based Valecha Engineering Ltd has informed that it has picked new projects worth Rs 136 crores which includes road resurfacing of runway at Srinagar worth Rs 71 crores and construction of under pass connecting to Dwarka at Delhi worth Rs 65 crores.

Further the company stated in a separate announcement that its Middle-East operations are also progressing well and recently the company has formed a wholly owned subsidiary in the name of Valecha International FZE at Sharjah in UAE.

Valecha Engineering Limited operates as a construction and infrastructure company primarily in India.

Hotel Leelaventure, one of the leading players in the Indian hospitality industry, has bought back nearly 50 million dollars foreign currency convertible bonds (FCCBs) at discount price from the international markets.

The company stated in a release, that till March 31, 2009, the company has bought back and cancelled FCCBs worth $33 million, constituting 33 per cent of its $100 million bonds due in April 2012.

Similarly, the company has also bought back FCCBs worth Euro 12.20 million (about $16.53 million), which constitutes 23.7 per cent of the Euro 51.40 million bonds due in September 2010.

Hyundai Motor India Ltd (HMIL), the second largest car manufacturer and the largest passenger car exporter, has finally forayed into taxi car segment in Mumbai on Monday.

The company, during a ceremony held at Modi Hyundai dealership in Mumbai, has handed over about 30 cars of Hyundai's best selling model - the Santro under its first batch, to the Mumbai Taxi Union.

For its Indian operations, independent IT management software company CA has nominated Saurabh Srivastava as Chairman, effective from April 6, 2009.

Mr. Michael Christenson, President and Chief Operating Officer, CA made this declaration.