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Blue Star may set up software firm

Blue Star Limited, the group made famous by its air-conditioners and refrigerators, is considering making its lesser-known software business either into a 100-per cent owned subsidiary or a separate public limited company.

Since BSL's electronics and software division brought in 11 per cent of the company's revenues, the step envisaged will help the new company avail of income-tax benefits for software exporters losses under section 80 HHE of the Income-Tax Act. This would also help BSL focus on its core

T O D A Y

• Damaged goods • Software for publicity • BSL's software firm • Hughes licence issue

competency -- central air-conditioning, sources said.

Under the plan to make the software wing a subsidiary firm, existing BSL shareholders will get equity shares of the new firm in the same proportion as those held in BSL. A final decision on the issue is to be taken in a month or two, company sources said.

-Compiled from the Indian media

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