High Court directs Suman Motels to seek creditors approval for scheme
of compromise
Suman Motels Ltd has informed BSE that, the Hon'ble High Court of
Mumbai has directed company to hold a meeting of shareholders, Secured
Creditors and Unsecured Creditors on September 22, 2001 for getting their
approval for scheme of compromise arrangement between the company and its
creditors.
Shreyans Industries to be referred to BIFR
Shreyans Industries Ltd has informed BSE that the Board of Directors of
the company has discussed the erosion of more than 50% of the net worth
of the company. An opinion has been made to make reference to the BIFR
in terms of SICA, 1985.
NCC Bluewater Products declared Sick
NCC Bluewater Products Ltd has informed BSE that, the entire net worth
of the company has been eroded and the company has been declared as
Sick Company under SICA, 1985 and have appointed State Bank of India as
the operating agency for preparing rehabilitation package for the
company.
Ranbaxy's D2D portal enters Record books
India's premier doctor-2-doctor (D2D) portal, RanbaxyforDoctors.com has recently been included in the LIMCA book of Records for the "First Doctor to Doctor Online session".
As reported in the "Sciences" section of the record book, " RanbaxyforDoctors.com, a doctor-centric portal hosted, "Current Trends in the management of Cardiac Arrythmia" on August 28, 2000 between 2.00pm and 4.00pm, where 69 doctors chatted online. The discussion was moderated by Prof. Dr K.K. Sethi, Director, Interventional Cardiology & Cardiac Arrthymia Services, Ganga Ram Hospital, Delhi."
Mr S.D. Kaul, Regional Director, India region Ranbaxy commented, "This recognition by the Limca Book of Records is a reaffirmation of our commitment to using the latest in technology and innovation to assist our marketing efforts in India."
RanbaxyforDoctors.com has consistently undertaken online scientific sessions on a variety of topics ranging from Erectile dysfunction, diabetes, dermatology, depression etc. The site also provides customized services to doctors of various specialties, like daily medical news, therapeutic updates and conferences at the click of a button. A unique interactive feature allows doctors to create their own web page, where they can list out their personal, professional and clinic details. The site currently has close to 3,00,000 hits every month.
Ranbaxy's online initiatives include a site on their popular brand of Sildenafil, (www.ecaverta.com) and a new site targeted at diabetic patients, (www.allondiabetes.com).
Datasoft Application to consider forfeiture of partly paid up shares
A meeting of the Board of Directors of Datasoft Application Software India Ltd is scheduled on September 10, 2001 to consider interalia, a resolution on forfeiture of partly paid up shares of the company.
Ind-Swift declares 20% dividend
The Board of Directors of Ind-Swift Ltd has declared a final dividend of 20% on the equity shares of the company for the year ended March 31, 2001.
Novartis India announces merged results for fiscal year 01, recommends dividend of 150%
Following the receipt of the approval of the scheme of amalgamation of Ciba CKD Biochem Ltd (CCBL) with the company by the Bombay High Court, the Board of Directors of Novartis India Ltd took on record merged results for the year ended March 31, 2001. Results for the year under review exclude Agribusiness comprising Crop Protection and Seeds business, which were demerged effective April 2000 and now part of Syngenta India Ltd.
The Board recommends a dividend of 150% amounting to Rs 7.50 per share.
Sales during this period were Rs 4380 million representing a decline of 1.8%, over the same businesses for the previous comparable period.
Pharma Sales at Rs 3710 million declined by 3.6% due to slowdown in the pharmaceutical market together with a decline in the company's rifampicin business. The newly set up Consumer Health business with sales of Rs 370 million recorded encouraging growth of 21%. Animal Health business posted sales of Rs 300 million and grew by 24% aided by recovery of the Poultry business segment supported by acquisition of marketing rights of calcium infusions.
During the year under review net profit stood at Rs 420 million after providing depreciation of Rs 100 million and tax of Rs 190 million. Profits have been impacted by decline in sales, additional costs arising from higher customs levies, costs associated with setting up of the Consumer Health Care business, closure of Ciba Vision operations and the amalgamation of CCBL.
VIP enters into JV agreement with Nitol Group
VIP Industries Ltd has entered into a Joint Venture Agreement with M/s Nitol Motors Ltd, Dhaka a member of well-known Nitol Group of Companies of Bangladesh. In terms of the said agreement, a joint venture company (JVC) shall be promoted in Bangladesh under the name ' VIP-Nitol Industries Ltd' with equal shareholding of VIP and Nitol.
The JVC shall establish an industrial unit in Bangladesh for the manufacture, distribution, sales and marketing of moulded luggage and moulded furniture products with the technical know-how and support from VIP Industries Ltd.
BIFR declares Modern Malleables as Sick Company
Modern Malleables Ltd has informed BSE that, the entire net worth of the company has got eroded. BIFR has declared the company as Sick Company under SICA, 1985 and have appointed State Bank of India as the operating agency for preparing a viable rehabilitation proposal for the company.
Greaves receives Rs 315 million from divestment of its stake in JV
Greaves Ltd has informed BSE that the company has received the consideration of Rs.315.00 million in full against the divestment of 16,660,000 equity shares (49%) holding in the joint venture company Piaggio Greaves Vehicles Ltd.
Tata Power to sell 4.50 million shares of Tata Liebert at Rs 170 per share to Emerson Electric
In a communication issued to BSE, Tata Power Co Ltd has informed that the Company has today (September 3, 2001) entered into an agreement with Emerson Electric (Mauritius) Ltd for disinvestment of 45,00,000 Equity shares of Rs 10 each in Tata Liebert Ltd at a price of Rs 170 per share, subject to necessary approvals.
Raymond enters into agreement to acquire steel file division of HGL
Raymond Ltd has informed BSE that pursuant to the Memorandum of Understanding signed on January 29, 2001 the nominee of the company, Hindustan Files Ltd has entered into an Agreement to transfer on August 31, 2001 with HGI Industries (HGI) for acquisition of the steel files division of HGL.
The actual acquisition of the steels files division will be subject to the fulfillment of the terms and conditions stipulated in the said agreement.
Genelec to be wound up
Genelec Ltd has informed BSE that, BIFR has issued necessary winding up order dated May 23, 2001.The appointment of the liquidator is pending for approval from the Hon'ble High Court Mumbai.
Credence Sound members approves stock split
Credence Sound & Vision Ltd has informed BSE that at the EGM of the company members have approved subdivision of equity shares from face value of Rs.10/- per share into face value of Rs 2 each.
Bervin Investment Directors resign
Bervin Investment & Leasing Ltd has informed BSE that the under noted Directors have submitted their resignations from the Board of Directors.
1. Mr TT Vasu
2. Mr K Sadananda Shetty
BSE imposes Special Margin on 27 scrips
BSE has informed the members of the exchange that the following scrips will attract Special Margins with effect from September 3, 2001. The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement.
Members are hereby informed that special margins will be imposed either on the net outstanding purchase or net outstanding sales positions as indicated below:
CODE NAME GROUP SPMGR PURCHASE)(%) SPMGR (SALE)(%)
7525 AMRIT BANASPATI B2 25
31632 AVINASH INFORMT B2 25
532382 BALAJI TELEFILM B1 25
24170 DSQ BIOTECH B2 25
26624 ELBEE SERVICES B1 25
150 FOSECO INDIA B1 25
32345 GATI CORPORATIO B1 25
32312 GEOMETRIC SOFT B1 25
31984 GUJARAT FISCON B2 50
31094 HARBOR NETWORK B2 25
32175 INFOTECH ENTER B1 50
532148 KOLAR INFOTECH B1 25
23411 KRONE COMMUNICA B1 25
32337 MASCOT SYSTEL B1 25
6954 MOTORALA SPEC B2 25
6991 NOBLE EXPLOSIVE B2 25
32350 PADMALAYA TELE B1 25
31349 PANACEA BIOTECH B1 25
26089 ROOFIT INDUSTRI B1 25
12299 STERLING BIOTEC B1 25
32211 SUN EARTH CERAM B1 25
532359 SUNBEAM INFOWAY B2 25
31830 TODAY'S WRITING B2 25
31554 TOP CASSETTES B1 25
19307 VIKAS WSP B1 25
532214 VISUAL SOFTWARE B1 25
14162 WELSPUN B1 25
Li Taka Pharmaceuticals announces change in management structure
Li Taka Pharmaceuticals Ltd has informed BSE that the Board of Directors at their meeting held on August 28, 2001 has accepted the resignation tendered by Mr Anil R. Bora , as Managing Director and Director of the Company. Accordingly, Mr. Anil R. Bora has ceased to be Managing Director and Director of the Company w.e.f August 28, 2001.
The Board of Directors in the aforesaid meeting has appointed Mr Rajendra C Bora as Managing Director of the Company w.e.f September 1, 2001 and accordingly will hold the office of the Chairman and Managing Director of the Company from the said date.
Geometric Software finalizes grant of 1,30,600 options under ESOS
Geometric Software Solutions Co Ltd has informed BSE that the Company has finalized the grant of 1,30,600 options to the eligible employees under Employees Stock Options Scheme 2001. The options have been priced at Rs 61 per option. Each option can be converted into one equity share of Rs 10 each.
The above scheme was approved by the shareholders of the Company at the meeting held on June 22, 2001.
