Uni Abex Alloy Products appoints new Director

Uni Abex Alloy Products Ltd has informed BSE that Mr. Keki M.Elavia, Partner of M/s. Kalyaniwalla & Mistry, Chartered Accountants, Mumbai, has been appointed as a Director of the Company with effect from May 28, 2001. Mr. Elavia's appointment is pursuant to the casual vacancy caused by the resignation of Mr.E.B.Desai.

Nestle declares 40% Interim Dividend

Nestle India Ltd has informed BSE that the Board of Directors of the Company has declared an Interim Dividend of 4 per equity share. The Company has further informed that the Interim Dividend of Rs 4 per share and Final Dividend of Rs 6 per share (subject to the approval of the shareholders at the Annual General Meeting of the Company on June 27, 2001) is proposed to be paid on/from July 02, 2001.

VSNL clarifies on news article

With reference to a news article appeared in a leading financial daily regarding the possibility of the Company declaring a Special Dividend before the Government Disinvestment, Videsh Sanchar Nigam Ltd, in a communication to the BSE, has stated that at present there is no such proposal before the VSNL Board.

Escorts FY-01 results on June 20, 2001

A meeting of the Board of Directors of Escorts Ltd is scheduled to be held on June 20 2001 to approve and take on records Audited Financial Results for the year ended March 31, 2001 and also to recommend dividend for the same year.

BASF India FY-01 results on June 19, 2001

A meeting of the Board of Directors of BASF India Ltd. is scheduled to be held on June 19, 2001 to consider the Audited Annual Accounts of the Company. The aforesaid meeting will also consider the payment of Dividend for the financial year ended March 31, 2001.

Paushak Board to consider Preference Share issue

A meeting of the Board of Directors of Paushak Ltd is scheduled to be held on June 30, 2001 to consider the allotment of 2,00,000 15% Redeemable Non-Convertible Cumulative Preference Shares of Rs 100 each aggregating to Rs 20 million.

Timken India Q4 net down by 13.82%, FY-01 net up by 31.59%

Timken India Ltd has posted a net profit of Rs 57.45 million for the quarter ended March 31, 2001 as compared to a net profit of Rs 66.67 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 409.55 million as compared to Rs 438.64 million in the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 stood at Rs 200.07 million as compared to a net profit of Rs 152.035 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 1593.35 million as against Rs 1512.40 million in the year ended March 31, 2000. The Board of Directors of the Company has recommended payment of Dividend on 2.60 million 9% Cumulative Redeemable Preference Shares of Rs 100 each, for the period 1st April, 1998 to 31st March, 1999. i.e. Rs 9 per share, amounting to Rs 25.79 million (inclusive of dividend tax @ 10.2%), to clear off a part of dividend-in-arrears on the said Preference Shares.

Aptech Board approves Business Restructuring proposal

The Board of Directors of Aptech Ltd, at its meeting held today (June 8, 2001) has considered the Valuation Report of the Joint Valuers M/s. Deloitte Haskins & Sells and M/s. N.M.Raiji & CO. The Board has also approved the proposal for Reconstruction and Arrangements of the Company, the wholly owned subsidiary of the Company ad Hexaware Technologies Ltd.(HTL) The proposal provides for transfer of the assets and liabilities of the Training Business to the Subsidiary by demerger, Restructuring of the Capital and Reserves of the Company, the continuation of the Software Business by the Company together with assets and liabilities pertaining to that business and the merger of HTL with the Company. The proposal also provides for changing the name of Aptech Ltd and the Subsidiary suitably. Consequent to the demerger of the Training Business and in consideration of the transfer of assets and liabilities of the Training Business to the Subsidiary. i) the Company would reduce 60% of its present paid up capital, resulting in every shareholder of the Company continuing to hold 4 equity shares as against 10 equity shares held by him in the Company before the transfer and; ii) The Subsidiary will issue equity shares of Rs 10 each to the shareholders of the Company credited as fully paid up in the proportion of the new 6 equity shares of Rs 10 each in the Subsidiary for every 10 equity shares of Rs 10 each held by him in the Company in lieu of 6 shares held by him in the Company. Simultaneously, HTL would amalgamate with the Company. The Company's share capital, remaining after its reduction consequent to the demerger of its Training Business, would be increased for issuing new equity shares to the shareholder of HTL in the proportion of 1(one) equity share of Rs 10 for every 3 (three) equity shares of Rs 5 (Rupees Five) each held by them in the capital of HTL. All the employees of the Company to whom warrants in the Company have been issued would also be allotted warrants in the Company and in the subsidiary for every warrant issued and allotted to them by the Company in the proportion of 4:6 with options to subscribe shares in both the companies at such price as may be decided by the Directors in accordance with the Employees Stock Option Schemes in lieu of their existing warrants. Every employee of HTL to whom a warrant shall have been issued and allotted by HTL would also be allotted 1 (one) warrant in the Company for a block of every 3 (three) warrants held by him in HTL. Fractional entitlement arising on account of the issue and allotment of the shares as aforesaid would be consolidated and would be issued and allotted to the Trustrees appointed by the Board of Directors with authority to the Trustees to sell the consolidated shares and distribute the proceeds thereof to the shareholders on whose behalf the consolidated shares arising on account of fractional entitlement were issued to the Trustees. Shares of the Company comprised in the Global Depository Shares ("GDS") would carry the same rights as are available to the other shareholders of the Company. The Subsidiary will make application(s) to the Stock Exchange(s) for enlistment of the Subsidiary's shares where the Company's present shares are listed. The Scheme of Reconstruction and Arrangements to be finalized by the Board based on the above proposal would, subject to all statutory approvals including those of the regulatory authorities and the Bombay High Court, become effective from April 1, 2001.

Major fire at National Flask Industries Naroli factory

National Flask Industries Ltd. has informed BSE that an unfortunate incident of fire has taken place during the third shift on June 4, 2001at the factory premises situated at Survey No. 166/P, Village Naroli, Silvassa, Dadra & Nagar Haveli, (U.T.) The Company has further intimated that the damage to the Factory Building and Plant & Machinery is to the extent of 75% and it will take approximately three months to restart the production at the said plant.

M & M automotive sector plants to work for 5 days a week

Mahindra & Mahindra Ltd has informed BSE that the Company is aligning its production with the market demand at all plants of the Automotive Sector. The Company has also reported higher productivity levels pursuant to the agreements reached with the unions has enabled it to manage its supply chain more efficiently and cost effectively. In the light of the above, the Company has decided that all the plants of the Automotive Sector shall work for 5 days per week till further notice.

Surana Telecom Q4 net up by 99.07%, FY-01 net up by 35.08%

Surana Telecom Ltd has posted a net profit of Rs 18.89 million for the quarter ended March 31, 2001 as compared to Rs 9.49 million for the previous period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 341.79 million as compared to Rs 199.31 million for the quarter ended March 31, 2000. The Company has reported a Net Profit of Rs 68.19 million on an increased turnover of Rs 862.87 million for the current year ended March 31, 2001 as compared to Rs 50.48 million (previous year turnover Rs 686.84 million). Other Income for FY-01 is at Rs 2.18 million as compared to Rs 7.86 million for FY-00. Exports made during the current year are at Rs 45.91 million as against Rs 0.75 million during last fiscal. The Board of Directors of the Company has recommended a Dividend of Rs 1.50 per share for the current year.

Pentasoft Technologies issues GDS on preferential basis

Pentasoft Technologies Ltd has informed BSE that the Allotment Committee has allotted 5 million Underlying Equity shares @ US $ 2 per share as under: Particulars GDS Consideration (US$in million) Digisec Pte Ltd. 1.25million 2.50 Cash I-Pick Associates Ltd. 1.25million 2.50 Cash Num TV Ltd. 2.25million 5.00 other than Cash

Winro Commercial to issue shares pursuant to scheme of amalgamation

Winro Commercial (India) Ltd has informed BSE that the Board of Directors of the company has decided to issue 512536 equity shares of the company to the shareholders of M/s.Pranjal Merchants Pvt. Ltd., Deepika Tradecom Pvt. Ltd., Finlex Traders Pvt. Ltd., Eligant Merchandise Pvt. Ltd., Teesta Management Ser.Pvt. Ltd., Bijaysubh Commodeal Pvt. Ltd., Barcley Securities Ltd., Xclusive Apparels Ltd. and Springfield Vyapaar Pvt. Ltd. (9 unlisted companies) who are amalgamated with the company in ratio of one equity share of the company for every 20 equity shares of above referred 9 companies.

Pentamedia Graphics to co-produce Singapore's first 2D/3D Animated Feature Film

Pentamedia Graphics Ltd, in a press release issued to the BSE has announced that in partnership with the Singapore Economic Development Board (EDB), the Company will produce a 2D animated film with 3D background for the international market. This $ 11 million production, titled Buddha will feature the story of Siddhartha's journey to Enlightenment. This will be a first full length 2D/3D animated feature film to be co-produced by Singapore and India and is slated for an international release at the end of 2002. Buddha is a milestone is EDB's efforts to develop Singapore into a media hub, and is part of EDB's strategy to identify and promote new content creation capabilities in Singapore.

Grindwell Norton announces VRS for employees at Bangalore Unit

Grindwell Norton Ltd has informed BSE that with a view of restructure the operations at the Company's Bangalore plant and to reduce costs, the Company has announced Voluntary Retirement Scheme to employees at Bangalore Unit.

Global Tele clarifies on news item

With reference to a news article appeared in a leading financial daily titled " Global Tele-Systems to set up call centre in Pune" Global Tele-Systems Ltd has informed BSE that the plan for the setting up of the Company's call centre at Pune is at a nascent stage and nothing has been finalised as yet.

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