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UK sets Nov 9 deadline for Kraft's Cadbury bid
UK’s Takeover Panel today asked US confectioner Kraft Foods Inc to make its final offer (popularly known as “put-up or shut-up”) to take over Cadbury Plc by November 9, or announce that it does not intend to make any fresh offer at all.

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Govt receives complaint against Shubiksha

The government today said it has received a complaint from an ex-employee of Subhiksha alleging that the company had not paid salary for three months and closed all units without any communication. - NEWSALERT: Adlabs files winding up petition of Subhiksha Trading Services - Lenders working to revive Subhiksha: MD">Lenders working to revive Subhiksha: MD - Madras HC says no to Kotak"s plea in Subhiksha matter - Subhiksha"s CDR process to be over by July 31 - Subhiksha debt restructuring to be over by 31 July : MD - Subhiksha gets interim stay on liquidator "Anil Kumar, an ex employee of the company has made a complaint alleging non-payment of salary for three months and closure of all units without any communication from the management," Corporate Affairs Minister Salman Khurshid told the Rajya Sabha in a written reply. Earlier, employees of Chennai-headquartered Subhiksha had laid siege to the local head office alleging non-payment of salaries. In Chennai alone, there are about 1,000 employees, both on contract and on the roll, who have not received their pay packets since October 2008. The cash-strapped retail chain had also acknowledged that salary cheques of some of its employees had not been honoured due to non-availability of liquidity. It has been alleged that there has been a diversion and mismanagement of funds of the company. The Registrar of Companies had recommended inspection of its books of accounts.


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