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IFCI Ltd has informed BSE that Mr Rajesh V Shah who was a Director on the Board of Directors of the company has resigned and his resignation was placed before the Board of Directors at their meeting held on July 31, 2001 and the Board has taken a note of the same.
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| East Africa's largest bank to leverage Infosys Enterprise banking e-platform |
Infosys Technologies Ltd, India's leading software and solutions provider has entered into a strategic alliance with Kenya Commercial Bank (KCB) to deploy Finacle-Infosys Core Banking Solution. Incorporated in 1971, Kenya Commercial Bank is the largest bank in East Africa with over
100 branches in Kenya and a presence in neighboring Tanzania. Formerly state owned and in the red in the last two years, KCB has made a dramatic turn around reporting operating profits under the leadership of a new management team. Replacement of its technology platform is one of the key strategic initiatives of the new team in successfully carrying out its proposed business transformation and strengthening its competitive leadership in the East African market.
"When we decided on changing our core banking platform as part of our turnaround strategy for the bank, we were looking for a world class core banking solution that would provide us a powerful and flexible platform for aggressive growth and change. More importantly we were looking for a partner, who could add strategic value to the bank. We believe that Finacle with its new generation architecture is ideally suited to power our strategy to meet the challenges of the new banking paradigm emerging in Kenya and globally. We are pleased with the capabilities of Infosys and look forward to leveraging this partnership for deriving strategic value going forward," said Mr. Gareth George, Chief Executive of Kenya Commercial Bank.
"We are privileged to partner KCB in its strategic turnaround initiative. We believe that today Finacle, offers our customer banks a unique value proposition. Our early investments in emerging technology/business paradigms like the web, straight through processing, 24*7*365 banking,
new age delivery channels, flexibility for business agility, etc, have given us competitive leadership in this space. When you couple this with our proven rapid implementation capability, Finacle emerges as the preferred choice amongst banks. Our win at KCB once again proves this fact," said Mr. Merwin Fernandes, Associate V.P. & Head-Global Sales and Marketing, Banking Business Unit, Infosys Technologies Ltd.
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| Dealings in Eltrol to resume from August 06, 2001 |
BSE has informed the members of the exchange that the dealing in the securities of Eltrol Ltd can be resumed with effect from August 6, 2001. BSE had earlier advised the members of the Exchange not to deal in the securities of the above mentioned scrip because of non-compliance of listing requirements regarding intimation of dates of closure of Registrar of Members/Record Dates to the exchange.
The Trading will be resumed on trade to trade basis.
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| High Court of Gujarat approves scheme of amalgamation of Sandesh |
| Sandesh Ltd has informed BSE that the Hon'ble High Court of Gujarat at Ahmedabad has approved the scheme of amalgamation of three wholly owned
subsidiary companies viz. Shubhkamna Investments Ltd., Sarvashanti Investments Ltd. and Swarpan Investments Ltd. with the company.
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| Rajdarshan Ind to de-list equity shares from all exchanges except Jaipur Stock exchange |
| Rajdarshan Industries Ltd has informed BSE that the Board of Directors of the company has decided to de-list the equity shares of the company from all the Stock Exchanges, except the Jaipur (Regional Stock Exchange)
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| Nahar Industrial Enterprises Board approves amalgamation of Oswal Cotton |
| Nahar Industrial Enterprises Ltd has informed BSE that the Board of Directors of the company has approved the amalgamation of Oswal Cotton Mills Ltd., a wholly owned subsidiary with the company.
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| IDBI announces change in management structure
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Industrial Development Bank of India has informed BSE that Shri S.K.Chakrabarti, has demitted his office as acting Chairman & MD of IDBI, at the close of business hours on July 31,2001. In terms of Govt. of India letter dated 31.07.01, Shri S.K.Kapur, ED of IDBI has been appointed as
a Whole Time Director (designated as Dy. MD) of IDBI for the period from date of taking charge and upto 31.10.01. Shri S.K.Kapur has taken charge on 01.08.01.
Shri V. Govindarajan has become a director on the Board of IDBI vice Shri P.G.Mankad.
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| High Court approves scheme of amalgamation of Alkyl Fin with Diamines & Chemicals |
| Diamines & Chemicals Ltd has informed BSE that the Hon'ble High Court of Gujarat has passed the order sanctioning the scheme of amalgamation of Alkyl Finance Trading Ltd. with the company.
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| Dr Reddy's launches fluoxetine in the US generics market |
Dr Reddy's Laboratories Ltd became the first Indian Company to receive 180-day marketing exclusivity in the US generics market. The company
received the final USFDA approval to market its fluoxetine 40mg capsules on August 02, 2001. On July 27, 2001 a final judgement was issued by the District Court for the Southern District of Indiana, USA and the case against Dr Reddy's was dismissed. Dr Reddy's launched the product in US on August 03, 2001 through its alliance partner Pharmaceutical
Resources Inc.
Dr Reddy's received 180-day marketing exclusivity for fluoxetine 40mg capsules effective July 27, 2001 but could not launch the product until after the expiration of 6-month pediatric exclusivity of Eli Lilly & Co's Prozac on August 02, 2001.
Dr Reddy's alliance partner, Pharmaceutical Resources Inc has received 180-day marketing exclusivity for its fluoxetine 10mg and 20mg tablets. Dr Reddy's and Pharmaceutical Resources will be the only entity to market the entire range of dosage strengths (10mg tablets 20 mg tablets and 40 mg capsules) during the marketing exclusivity period.
Dr Reddy's has been very active in filing Paragraph IV certifications and believes it has first to file status on omeprazole 40 mg capsules, ciprofloxacin 100 mg and 750 mg (rolling exclusivity) tablets and olanzapine 20 mg tablets.
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| BSE imposes AVM on 14 scrips |
BSE has informed the members of the exchange that Additional volatility Margin (AVM) has been imposed on the following scrips for the settlement No. 020/2001-2002 commencing on August 06,2001. AVM would be computed on the net outstanding Purchase or Sales position as may be
applicable including carryforward positions at the end of day at the rate given below. The rate of AVM would be remain unchanged for the entire settlement.
CODE NAME OF THE COMPANY GROUP AVM
32351 Aksh Optifibre Ltd. B1 10.00
31632 Avinash Information Technologies Ltd. B2 15.00
32385 Aztec Software and Technolgy Services Ltd. B1 10.00
1150 Centrum Finance Ltd. B2 10.00
26785 Crest Communications Ltd. B1 10.00
26624 Elbee Services Ltd. B1 25.00
32312 Geometric Software Solutions Co.Ltd. B1 10.00
23411 Krone Communications Ltd B1 10.00
32337 Mascot Systems Ltd. B1 10.00
32350 Padmalaya Telefilms Ltd. B1 10.00
26117 Shervani Industrial syndicate Ltd B2 10.00
31121 Sierra Optima Ltd B1 10.00
12299 Sterling Biotech Ltd. B1 15.00
32383 Vision Organics Ltd B1 10.00
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