Haryana Breweries to consider amalgamation with Skol Breweries

A meeting of the Board of Directors of Haryana Breweries Ltd is scheduled to be held on July 11, 2001 to consider and approve the proposal for amalgamation of the Company with Skol Breweries Ltd and to approve the scheme of arrangement/share exchange ratio.

Schenectady India Holdings signs agreement to acquire 50.08% stake in Herdillia Chemicals

Herdillia Chemicals Ltd has informed BSE that at the meeting of the Board of Directors of the Company held on July 03, 2001, it has been communicated that an agreement has been signed between Schenectady India Holdings Ltd., a wholly owned subsidiary of Schenectady International Inc. New York, USA and Duncans Industries Ltd, to acquire, subject to statutory and financial institutions approvals, the controlling interest aggregating 50.08% of the shares of Herdillia Chemicals Ltd. The company has further informed that Schenectady International Inc.'s interest is only the core chemical business of Herdillia Chemicals Ltd. Therefore, the agreement envisages the transfer of certain assets and associated liabilities that are unrelated to the core business, to a separate company through a demerger scheme, and the allotment of shares in that Company, to existing shareholders of Herdillia Chemicals Ltd. In accordance with SEBI Take-over Code, Schenectady India Holdings is shortly expected to announce an offer to acquire the shares held by the Public.

Infotech Enterprises signs MoU with E & M Co. Ltd to address Japanese markets

Infotech Enterprises Ltd has signed a Memorandum of Understanding with E & M Co Ltd, Tokyo to serve as Infotech's exclusive marketing partner in Japan. E & M a subsidiary of NIHON E&M Co Ltd has core competencies in the areas of development, design, production and sale of computer software creation and sale of map data and related information data construction and consultation of Geographic information Systems. E & M Co will address the Japanese markets with Infotech's Geographic Information Systems (GIS) and Computer Aided Design (CAD) software services. Infotech staff will be based at E&M to train and support their technical and sales teams and provide Project Management support. Infotech and E & M will jointly offer Japanese customers the benefits of low cost offshore development services combined with onsite project management and technical support. The MOU is expected to generate over US $ 1 Million business to Infotech from Japan during the current financial year. The agreement with E & M Co coincides with the Japanese market opening up to foreign software companies and IT professionals. In the GIS area both companies will focus on data conversion and migration services and custom application development based on Infotech's proprietary GeoLOGIC technology. In the CAD area the focus will be on 3D modeling, Engineering Analysis and drafting & detailing services.

Dr Reddy's get DCGI approval for launching recombinant G-CSF

Dr Reddy's Laboratories Ltd has obtained approval from the Drug Controller General of India (DCGI) to market its first biotechnology product GRASTIM (generic name filgrastim), the human Granulocyte Colony Stimulating Factor (hG-CSF). GRASTIM, a recombinant protein, is used in cheotherapy-induced neutropenia and in bone marrow transplantation. This product is also useful in the treatment of leukopenia associated with myelosuppressive therapies and in patients with AIDS-related cytomegalovirus retinites. Dr. Reddy's is the first Company from India to develop this molecule all the way from the molecular biology stage to production and also obtain approval to launch in India. GRASTIM will cater to the needs and requirements of Indian Customers who are currently dependent on imported products. The Company plans to launch GRASTIM this month. Dr Reddy's formed the Biotechnology Division in 1998 to operationalise the recombinant technology platform. While, initially, this platform will be used to develop capabilities in manufacturing recombinant proteins that are already marketed elsewhere in the world, the capabilities would then be extended to build on basic research in biotechnology. The Company has put together a team of highly skilled and motivated scientific and technical team to develop its biogenerics product portfolio. Dr. Reddy's has a complete process and product development setup encompassing molecular biology, fermentation, protein purification, cell culture to final production, by using state-of-the-art technology and multiple expression systems (E.coli, yeast and mammalian cells) to ensure high expression levels in yield to cost and market leadership. The biotech pipeline of Dr. Reddy's has several recombinant products for treatment of cancer, diabetes and cardiovascular diseases in various phases of development.

Britannia Q1 results on July 28, 2001

A meeting of the Board of Directors of Britannia Industries Ltd is scheduled to be held on July 28, 2001 to consider and take on record the Unaudited Quarterly results of the Company for the quarter ended June 30, 2001.

Glaxo executes agreement for transfer of Vasant Vijay premises for Rs 400 million

Glaxo India Ltd has informed BSE that the Company has executed the Deed of Assignment for the transfer of Vasant Vijay premises located at S.K.Ahire Marg, Mumbai -400 025, to Hongkong and Shanghai Banking Corporation Ltd, for a consideration of Rs 400 million.

Operations at Mysore Cements' Ammasandra plant stopped

Mysore Cements Ltd has informed BSE that the workers at the Company's Ammasandra Plant, Tumkur Dist., Karnataka have gone on strike from July 02, 2001 to press for implementation of their Charter of Demands. In view of the above, the operations at Ammasandra Unit of the Company have stopped.

VSNL FY-01 results on July 10, 2001

A meeting of the Board of Directors of Videsh Sanchar Nigam Ltd is scheduled to be held on July 10, 2001 to consider the annual accounts of the Company for the financial year ended March 31, 2001 and to recommend Dividend for the year 2000-01.

Parke Davis fixes Book Closure for the purpose of Dividend

Parke Davis (India) Ltd has informed that the Register of Members and Share Transfer Books of the Company will remain closed from August 08, 2001 to August 14, 2001 (both days inclusive) to determine the rights of members to receive dividend that may be declared for the year ended March 31, 2001 at the ensuing Annual General Meeting of the Company to be held on August 14, 2001. The said dividend will be paid to those members whose names stand on the Register of Members of the Company as on August 14, 2001.

Final hearing for Annapurna Foils on September 26, 2001

Indian Aluminium Company Ltd has informed BSE that the Honourable AAIFR has formulated a draft rehabilitation scheme for Annapurna Foils Ltd (AFL), a Company in which Indal has a 26% equity stake. AFL is a sick Company under the provisions of SICA. The important features of the draft scheme are as follows: 1. Repayment of term loans/outstanding dues to the Banks/Financial Institutions by the Company, by way of a one-time settlement in the manner agreed. 2. Write down in the share capital of AFL. 3. Acquiring the equity stake of the existing promoters of AFL by the Company. As directed by the Hon'ble AAIFR, a final hearing will be held on September 26, 2001.

IL & FS Venture Corp Q1 net down by 69.91%

IL & FS Venture Corporation Ltd has posted a fall in net profit from Rs 21.76 million for the quarter ended June 30, 2000 to Rs 6.55 million for the current quarter ended June 30, 2001. Total Income for the quarter ended June 30, 2001 is at Rs 17.52 million as compared to Rs 34.50 million for the quarter ended March 31, 2000. The Company has reported that income from operations for the quarter ended June 30, 2000 includes profit on sale of investments of Rs 16.455 million.

Prudential ICICI AMC acquires 5.97% stake in Balaji Telefilms

Balaji Telefilms Ltd has informed BSE that the Company has received intimation from Prudential ICICI Asset Management Company Ltd to the effect that it has acquired 615,000 equity shares of the Company representing 5.97% of the equity share capital of Balaji Telefilms through its various schemes on the dates as under 1. Prudential ICICI Growth Plan (3,50,000 shares - 20.06.01 & 20,000 shares - 21.06.01) 2. Prudential ICICI Tax Plan (65,000 shares - 20.06.01) 3. Prudential ICICI Technology Fund (1,80,000 shares - 21.06.01)

Aurobindo Pharma announces changes in top management

Aurobindo Pharma Ltd, in a communication issued to the BSE has announced that in view of the major growth initiatives undertaken by the Company to create a platform for the Company to penetrate attractive global markets, the Company has restructured the management responsibilities. Sri P.V.Ramaprasad Reddy, the erstwhile Managing Director has now been appointed as the Executive Chairman of the Company. Sri K.Nityananda Reddy, the erstwhile Joint Managing Director and co-promoter, having in depth experience in manufacturing and commercial areas, has been appointed as Managing Director of the Company. This new structure is expected to enable Sri P.V.Ramaprasad Reddy to concentrate fully on the 'strategies of change' being pursued by the Company to achieve its goal of becoming a R & D based international pharmaceutical Company. These changes have been approved by the Board of Directors at its meeting held on June 29, 2001 with immediate effect.

Supreme Woollen Mills members approve issue of shares on preferential basis

Supreme Woollen Mills Ltd has informed BSE that, at the Extra-Ordinary General Meeting of the Company, following items were approved by the members : 1. Issue of equity/preference shares on preferential basis to promoters to the extent of Rs.70 million. 2. Increase in Authorised Capital from Rs.100 million to Rs.170 million & its related amendments in MoA and AoA of the company. 3. Borrowing power of the Board has been increased to Rs.250 million. 4. Power to company u/s 293(1)(a) of the Companies Act, 1956 to Mortgage the property of the company.

Mindteck (India) Board approves issue of shares as per scheme of amalgamation

Mindteck (India) Ltd has informed BSE that the Board of Directors of the company has approved the allotment of 2,51,680 equity shares of the company to the shareholders of Nicco Infotech Ltd., in pursuance of scheme of amalgamation approved by the Hon'ble High Courts at Mumbai and Kolkata.

Chordia Food Products Board approves sale of its Satara and Pune units

Chordia Food Products Ltd has informed BSE that the Board of Directors of the company has decided as under, subject to necessary approvals: 1. Sale/disposal of company's unit situated at 461, Yawat, Bhandgaon, Dist.Pune. 2. Sale/disposal of company's unit situated at MIDC-Satara. 3. Shifting of Registered office of the company from Yawat to its factory at Shirwat. 4. Issue of 7,50,000 warrants to the Promoters/Directors/their Relatives, Friends, Associates, with a right to subscribe for equity shares within a period of 18 months as per pricing formula stipulated by SEBI. 5. Delisting of equity shares of the company from Ahmedabad Stock Exchange. 6. EGM of the company will be held on July 31, 2001.

L & T clarifies on news item

With reference to the news article appearing in a leading financial daily titled " Larsen & Toubro eyes projects worth Rs 10,000 crore" Larsen & Toubro Ltd, in a communication issued to the BSE has clarified that: 1. Projects worth Rs 1300 crores approx. under the Golden Quadrangle umbrella have at present been awarded to the Construction division of L&T. 2. As regards the Rs 640 crores project for construction of road from Jaipur to Kishangarh, presently L&T is under active consideration but has still not been awarded the project. The authorities are expected to take a decision in the matter of awarding the said project by the end of the month.

DSQ Software clarifies on news article

With reference to the news article appearing in a leading financial daily titled " DSQ Software closing down Gurgaon centre?" DSQ Software Ltd has informed BSE that the Company has been concentrating all its activities in Chennai and Bangalore and hence it has been decided not to go ahead with the setting up of a Center at Gurgaon. The Company has only acquired the premises and furnitures have been ordered for setting up of a Development Center at Gurgaon. The Company has further informed that in view of the Company's decision to concentrate in Chennai and Bangalore, the Company has decided to stop further work in the premises at Gurgaon. The Company has clarified that it is not closing down its Development Center at Gurgaon.

Sonata Software Q1 results on July 12, 2001

A meeting of the Board of Directors of Sonata Software Ltd is scheduled to be held on July 12, 2001 to consider the audited results of the Company for the quarter ended June 30, 2001.

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