Manappuram General Finance and Leasing Ltd has informed BSE that the Board of Directors at its meeting held on November 15, 2002 took the following decisions :
1. To go in for a Right Issue at 2:1 ratio i.e. 1,500,000 Equity Shares of Rs 10 each at par.
2. Fixed the date of EGM on December 15, 2002.
3. Approved the proposal to appoint M/s. Cameo Corporate Services Ltd as Registrars to the Right Issue.
4. Approved the proposal to appoint M/s. Munoth Financial Services Ltd as Lead Managers to the Right Issue.
5. Considered the proposals from M/s. Catholic Syrian Bank Ltd and Canara Bank to act as Bankers to Right Issue.
6. Fixed the record date on January 15, 2003 in order to ascertain the entitlement of shareholders to the Right Issue.
Sunitee Chemicals Board approves Split-up of Equity Shares
Sunitee Chemicals Ltd has informed BSE that the Board of Directors at its meeting held on November 19, 2002 decided to Split-up the Face Value of Equity Shares from Rs 10 to Re 1 each and to conduct the Extraordinary General Meeting of the company on December 16, 2002.
The Board of Directors also decided to announce the book closure from December 13, 2002 to December 16, 2002 (both the days are included).
ICICI Bank appoints nominee director on the board of S&S Power Switchgear
S&S Power Switchgear Ltd has informed BSE that ICICI bank has appointed Mr S C Bhatia as Nominee director on Board of the Company with effect October 24, 2002.
Further the Board has accepted the resignation of Mr A R Santhanakrishna as director with effect from August 18, 2002.
Acrysil appoints Executive Director
Acrysil Ltd has informed BSE that the Board of Directors at its meeting held on October 28, 2002 appointed Mr Chirag A Parekh as an Executive Director of the company with effect from November 2, 2002.
Arvind Mills fixes book closure for the purpose of AGM
Arvind Mills Ltd has informed that the Register of Members and Share Transfer books of the Company will remain closed from December 23, 2002 to December 24, 2002 (both days inclusive) for the purpose of Annual General Meeting.
Naresh Narad ceases to be a director of HPCL
Hindustan Petroleum Corporation Ltd has informed BSE that Shri Naresh Narad, Special Secretary, Ministry of Petroleum & Natural Gas has ceased to be a part time ex-officio Director of the Corporation with effect from November 11, 2002 consequent upon his movement from Ministry of Petroleum & Natural Gas, as Secretary, Ministry of Heavy Industries & Public Enterprises.
A K Purwar appointed as Chairman of SBI
State Bank of India has informed BSE that the Central Government, after consultation with the Reserve Bank of India, appointed Shri A K Purwar, Deputy Managing Director, State Bank as Chairman, State Bank of India from the date of his taking charge of the post and upto May 31, 2003 i.e. date of his superannuation or until further orders whichever is earlier. Shri A K Purwar assumed the charge of Chairman, State Bank of India, on November 13, 2002.
ICICI Bank appoints Nominee Director on the board of BPL
BPL Ltd has informed BSE that ICICI Bank Ltd has nominated Mr V A Raghu as their nominee on the Board of the Company with effect from September 30, 2002.
Telephoto Board approves valuation report for restructuring programme
Telephoto Entertainments Ltd has informed BSE that the Board of Directors at their meeting held on November 18, 2002 have agreed upon the valuation report, as presented by N M Raiji & Co., Chartered Accountants.
The Company has drawn up a restructuring programme and as part of this plan, the Company is contemplating to reduce its share capital by 85%. As a part of the same restructuring plan, it is proposed to issue new shares in the same proportion of 15% of the existing shareholding. Thus the existing shareholders of Telephoto will receive 15 equity shares for every 100 equity shares held in the Company.
The swap ratio for the merger with In House Productions Pvt Ltd as at September 30, 2002 as proposed by N M Raiji & Co Chartered Accountants is as follows:
For every 4 (Rs 10/- paid up) equity shares in In House, 7 (Rs 10 paid up) redeemable preference shares in Telephoto.
For every 10 (Rs 10/- paid up) equity shares in In House, 11 (Rs 10/- paid up) redeemable debentures in Telephoto.
For every 10 (Rs 10/- paid up) equity shares in In House, 14 (Rs 10/- paid up) new equity shares in Telephoto.
The Company has proposed to merge with In House Productions Pvt Ltd. The Company is taking necessary steps to give effect to this merger.
Chetak Spintex members approve delisting of its shares from 3 stock exchanges
Chetak Spintex Ltd has informed BSE that the shareholders of the company have approved to delist the shares of the company from the Stock Exchange at Ahmedabad, Jaipur and Mumbai in view of no trading of company's securities in these Stock Exchanges during the last 3 years.
C Mirani - MD of India Gelatine & Chemicals passes away
India Gelatine & Chemicals Ltd has informed BSE that Shri C H Mirani , Managing Director of the company passed away on October 14, 2002.
Work resumes at Vizag Unit of Jindal Strips
Jindal Strips Ltd has informed BSE that the operations of Vizag Unit of the company have been restarted. The operation of this unit were stopped temporarily because of disturbance from some of the contract labours.
Tata Finance clarifies on news item
With reference to a news item titled "Tata Finance, Telco arm may merge" published in a leading financial daily, Tata Finance Ltd has clarified that the Tata group has commenced an exercise to examine how the automotive finance business of the company and the Bureau of Hire purchase Credit of Telco can enhance their competitiveness by working closer together, while retaining separate legal entities.
The Group believes that co-ordination between the two entities can enhance the Group's market position via a border product service portfolio, larger channel presence and combined experiences and skill sets of people from these two entities.
Shriram Investments Board to consider allotment of equity shares on preferential basis
Shriram Investments Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 28, 2002 to consider allotment upto 57,65,100 equity shares of Rs 10 each for cash at Rs 13.25 per share (including a premium of Rs 3.25 per share) to Citicorp Finance India Ltd on preferential basis. At the aforesaid meeting the following agenda is also proposed for consideration of the Board :
1. To approve the audited results of the company for the half year ended September 30, 2002.
2. To declare interim equity dividend to the shareholders for the year 2002-2003 and to fix December 21, 2002 as record date to determine the shareholders eligible to receive the said interim dividend.
Shriram Transport Finance Company Board to consider allotment of equity shares on preferential basis
Shriram Transport Finance Company Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 28, 2002 to consider allotment upto 62,43,000 equity shares of Rs 10 each for cash at Rs 12 per share (including a premium of Rs 2 per share) to Citicorp Finance India Ltd on preferential basis. At the aforesaid meeting the following agenda is also proposed for consideration of the Board :
1. To approve the audited results of the company for the half year ended September 30, 2002.
2. To declare interim equity dividend to the shareholders for the year 2002-2003 and to fix December 21, 2002 as record date to determine the shareholders eligible to receive the said interim dividend.
Sanyei Mediquip Board approves issue of bonus shares
Sanyei Mediquip Ltd has informed BSE that the Board of Directors have decided at their meeting held today (November 20, 2002) to issue one Bonus shares for every one existing equity shares held by the members subject to approval by the shareholders at the Extra Ordinary General Meeting to be held on December 16, 2002.
Anand Electric Supply Board approves bonus issue
A meeting of the Board of Directors of Anand Electric Supply Company Ltd was held today (November 20, 2002) to issue four bonus shares for every three existing equity shares held by the members subject to approval by the shareholders at the Extra Ordinary General Meeting to be held on December 16, 2002.
DCW Director resigns
DCW Ltd has informed BSE that Shri T S Ravikumar, Director and Secretary of the company has resigned from the service of the company with effect from November 15, 2002 and Shri C V Subramanian has joined the services of the company as Chief Financial Officer with effect from October 21, 2002.
MatrixOne - a client of Geometric Software Solutions introduces Instant Messaging Technology for value chain Portfolio Applications
Geometric Software Solutions Ltd has informed that one of its client MatrixOne Inc, a leading provider of collaborative product lifecycle management solutions for the value chain™, today (November 20, 2002) announced the release of an Instant Messaging (IM) platform that can be added to any of MatrixOne's Value Chain Portfolio™ applications. This module extends online collaborative capabilities such as the ability for secure enterprise instant messaging for one to one or multiple user sessions across the value chain.
The IM platform was developed in conjunction with Geometric Software Solutions Co. Ltd of Bombay, India, a specialist in providing PLM software solutions to leading organizations worldwide.
"We are happy to provide innovative technology services to a global PLM player such as MatrixOne. Geometric's co-development strategy with value added, technology-based services is what we believe differentiates us as a leading provider of cost effective, PLM solutions," said Ajit Joshi, head of information management business unit at Geometric.
Arvind Mills announces change in management structure
Arvind Mills Ltd has informed BSE that at the board meeting of the company held on November 20, 2002, the following changes in the Company's Board of Directors have been considered.
1. The following directors have resigned - Dr Prabodh M Desai
- Mr J C Shah
- Mr Shailen H Desai
- Mr J P Shah
- Mr V L Mote
- Mr Naishadh I Parikh
2. The following have been appointed as Directors on the Board of Directors - Mr Jayesh K Shah
- Mr Deepak M Satwalekar
- Mrs Rama Bijapurkar
- Mr Jaitirth Rao
3. Mr Arvind N Lalbhai, Chairman and Managing Director of the company has resigned from the position of Managing Director but will continue as Director and Chairman of the Board of Directors of the Company.
4. Mr Jayesh K Shah has been appointed as a Wholetime Director on the Board of Directors of the company with his designation as Director and Chief Financial Officer.
Casil Health Products clarifies on News Item
With reference to a news item published in a leading financial daily Casil Health Products Ltd has informed BSE that:
1. Casil is not a subsidiary of Cadila Pharmaceuticals Ltd. Both the companies are under the same management managed by the Modi Family Members.
2. The company is basically catering the Hospital Disposable markets including syringes and it is in search of good overseas partners of state of the art product with the latest technological advantage. Prospective partner has yet not been identified, the matter is still in the primary negotiation stage and hence it is not possible for the company to announce its name.
3. Latex Rubber Gloves produced by the company, licensed by BIS for conformity with their standards, are very well established in the domestic market. The armed forces have also approved the quality of company's this product and signed a deal to supply such products to them.
Mayur Leather Products Board to consider forfeiture of partly paid up equity shares
Mayur Leather Products Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 23, 2002 to consider forfeiture of partly paid up equity shares of the company and to constitute Sub Committee of Board of Directors for compliance of Corporate Governance code.
Magma Leasing Board to convene EGM to approve preferential allotment of equity shares
Magma Leasing Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 25, 2002 to fix the date and time of Extraordinary General Meeting of the members of the company to decide upon the preferential allotment/issue of Equity Shares of the company by way of private placement basis, and to approve the draft Notice calling the same.
Hazoor Hotel Properties Board to consider amendment of Main Object Clause of MOA & AOA
Hazoor Hotel Properties Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 22, 2002 to approve the proposed amendment of the Main Object Clause of Memorandum & Articles of Association of the company due to diversification into Media & Power Business activities. The company proposes to change the name of the company accordingly to reflect the said activities in the name of the company subject to the approval by the shareholders in the ensuing AGM proposed to be held on December 12, 2002 and subject to approval by the Registrar of Companies, Mumbai.
Vintage Cards Board to consider issue of equity shares on preferential basis
Vintage Cards & Creations Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 28, 2002 to consider the issue of Equity Shares on a Preferential Basis to the promoters, Hallmark Cards Inc., USA and other business associates and to consider the holding of an Extraordinary General Meeting of the company pursuant to the decision taken on Preferential Allotment of Equities.
Linkhouse members approve Preferential Issue of Equity Shares
Linkhouse Industries Ltd has informed BSE that at the Extraordinary General Meeting held on November 18, 2002 the members have approved Preferential Issue of 1,00,000 Equity Shares of Rs 10 each at a premium of Rs 40 per share on cash basis. In this regard a meeting of the Board of Directors is scheduled to be held on November 26, 2002 where at the allotment would be made.
Aventis Pharma appoints new director
Aventis Pharma Ltd has informed BSE that the Board of Directors of the company has, at its meeting held on October 30, 2002 appointed Mr W Wagner as a Director of the company in the casual vacancy caused by resignation of Mr J Silvestre.
Escorts Q2 results rescheduled on November 28, 2002
Escorts Ltd has informed BSE that the Board Meeting for taking on record Unaudited Financial Results for Quarter/Half Year ended September 30, 2002, which was adjourned for the want of quorum has been re-scheduled for November 28, 2002.
GAIL Clarifies on News Item
With reference to news item titled "GAIL seeks Govt nod to sell ONGC stake" appeared in a leading financial daily Gas Authority of India Ltd has informed BSE that the matter has not been put up to the Board for its approval.
IOC Clarifies on News Item
With reference to news item titled "IOC to Share Sudan Pie with OVL, Pick 10 % stake" published in a leading financial daily, Indian Oil Corporation Ltd has informed BSE that the proposal is under consideration and no final decision is taken in the matter.
Wipro allots equity shares pursuant to exercise of ESOP
Wipro Ltd has informed BSE that the Board of Directors vide the circular resolution effective November 19, 2002 resolved to issue and allot 4360 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.
IOC announces change in management structure
Indian Oil Corporation Ltd has informed BSE that Shri Naresh Kumar Nayyar has been appointed as Additional Director and designated as Director (Planning & Business Development) with effect from October 10, 2002.
Shri Naresh Narad, a government nominee representing Ministry of Petroleum and Natural Gas on the Board of the company ceased to be a Director with effect from November 11, 2002
Ambalal Sarabhai Enterprises Board proposes a scheme of demerger of its Investment Division with M/s. Mautik Exim
Ambalal Sarabhai Enterprises Ltd has informed BSE that as a part of restructuring exercise currently undertaken by the company, the Board of Directors of the company at its meeting held on November 19, 2002 has subject to and pursuant to provisions of section 391 to 394 of the Companies Act, 1956 and subject to such other approvals as might be required in this regard proposed a scheme of arrangement and restructure (Demerger) of its Investment Division, as a going concern, together with its assets and liabilities, with M/s. Mautik Exim Ltd, Ahemdabad, with effect from April 01, 2002 (the appointed date)
Upon vesting of the investment division of ASE in MEL and upon vesting becoming effective MEL shall without any further act and deed, issue and allot to the shareholders of ASE, one equity share of MEL of Rs 10 each credited as fully paid up for every 4 equity shares of Rs 10 each, held by the shareholders in ASE. This scheme also provides for dealing with the fractional entitlements arising out of such issue and allotment of equity shares of MEL i.e individuals who are holding less than 4 equity shares would be entitled to receive fractional shares. But no fractional certificates will be issued and instead the shares representing such fractional entitlements would be issued and allotted to a director/ authorised officer of MEL who shall arrange to dispose of the same and remit the pro-rate proceeds.
Shapre Global Info Services board to consider scheme of amalgamation
Shapre Global Info Services Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 26, 2002 to consider the Scheme of Amalgamation, amalgamating the company with Net Axis Software Services Ltd subject to approval of Shareholders of both the companies and also sanction of the scheme by the Hon'ble High Court of Chennai.
The details of scheme of Amalgamation and the Swap Ratio of the share will be intimated once to Board Considers and approves the scheme.
Andrew Yule board to allot Equity Shares to Central Govt
Andrew Yule & Company Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 21, 2002 to consider and approve issue and allotment of fresh 2,900,000 Equity Shares of RS 10 each to the Central Government in the name of the President of India in conversion of the financial assistance of Rs 29,000,000 sanctioned and disbursed to the Company by the Central Government.
Integrated Fin Services to seek members' approval to enter into Insurance & Real Estate Business
Integrated Financial Services Ltd has informed BSE that Extraordinary General Meeting of members of the company is scheduled to be held on December 14, 2002 to declare the results of the following resolutions which are being put to vote by way of Postal Ballot.
1. To Provide services in Insurance Business
2. To Provide services in Real Estate Business
Ajanta Pharma fixes Book Closure for AGM and declaration of Dividend
Ajanta Pharma Ltd has informed BSE that the Register of Members and Share Transfer Register will remain closed from December 20, 2002 to December 24, 2002 for the purpose of Annual General Meeting to be held on December 24, 2002 and declaration of dividend.
Mascot Systems to acquire eJiva and Aqua Regia
Mascot Systems Ltd has informed BSE that in a significant move to enhance Mascot's business, the Company on November 19, 2002 announced the proposal to acquire eJiva an iGate Corporation Company and Aqua Regia a Hyderabad based Company that provides offshore services exclusively to eJiva.
eJiva brings strong expertise in specific areas such as Enterprise Application services, Data Management and Integration, and Business Intelligence which are highly complementary to Mascot's capabilities in broad-based offshore services, e-Commerce solutions and Embedded software development. As an extended part of the acquisition Mascot will also acquire the Aqua Regia. This proposal is subject to regulatory and other approvals as may be required. In order to supplement the business model and client delivery capabilities both entities will combine their operations. However, from a legal and corporate structure viewpoint, eJiva will be maintained as a wholly owned subsidiary of Mascot. The acquisitions are likely to be effective January 01, 2003.
The acquisition will provide operating momentum to drive stronger business growth by:
1. Supplementing essential operating and financial size that is critical to engaging major global corporations where there is increased potential to enter into large business engagements.
2. Expanding depth and range of services across key growth categories.
3. Enhancing client list by adding well reputed international organizations to the Companys customer profile.
4. Adding strength to the Companys senior management, and the sales and marketing team and exploiting synergies in common areas of competence.
In a related announcement iGate Corporation also announced a global regrouping of businesses - where Mascot Systems has emerged as a key operating constituent.
Escorts signs an agreement to sell its 40% equity stake in Escorts JCB to J C Bamford Excavators - UK
Escorts Ltd has informed BSE that it has signed an agreement to sell its 40% Equity stake in Escorts JCB Ltd. (EJCB) to J.C.Bamford Excavators Ltd., U.K (JCB), partially by Buy Back of shares and partially by direct purchased from Escorts Ltd, subject to approval of Foreign Investment Promotion Board and Reserve Bank of India. After the said acquisition, the shareholding of JCB in the EJCB will increase from 60% to 100%.
Continental Coffee members approve Alteration of Object Clause in MOA
Continental Coffee Ltd has informed BSE that it has completed the Postal Ballot procedure conducted for the purpose of altering the Object Clause of the Memorandum of Association of the company and to Change the name of the company to "CCL Products (India) Ltd". Members have approved the above resolutions.
Govind Rubber to seek members' approval for reporting to BIFR
Govind Rubber Ltd has informed BSE that a meeting of the Board of Directors of the company is scheduled to be held on November 25, 2002 to report to Board for Industrial and Financial Reconstruction (BIFR) about the fact of erosion of 50 % or more of peak net worth of the company and to convene Extraordinary General Meeting of the members of the company to pass the resolution for reporting to BIFR.
Grasim Clarifies on News Items
With reference to news items appearing in various news papers Grasim Industries Ltd has informed BSE that SEBI has advised the company not to proceed with open offer formalities pursuant to the Public Announcement since SEBI has decided to conduct investigation in terms of Chapter V of the SEBI (Substantial Acquisition of Shares and Takeover )Regulations, 1997 on alleged violation if any with regard to acquisition of 25,000,000 equity shares aggregating 10.05 % of the paid up and voting capital of Larsen & Toubro Ltd by the Company in November, 2001.
The company has further informed that in consultation with company's legal advisors an appeal has been filed on November 18, 2002 with the Hon'ble Securities Appellate Tribunal against the aforesaid communication from SEBI and the company has applied to the Hon'ble Securities Appellate Tribunal for suitable Interim reliefs also.
Wipro teams with Artesia Technologies ™ to deliver Digital Asset Management Solutions to Worldwide Customers
Wipro Technologies, the global IT services division of Wipro Ltd on November 19, 2002 announced it will partner with Artesia® Technologies, Inc., a leading provider of enterprise Digital Asset Management (DAM) solutions, to deliver comprehensive rich media content management solutions to Wipro's customers worldwide. In alliance with Artesia®, Wipro Technologies will offer its global customers best-in-breed Digital Asset Management and workflow solutions helping them to leverage their rich media content in new ways and to enhance business processes and efficiencies associated with the creation of enterprise content. Wipro will offer its integrated solutions to media companies in North America and Europe, and will be the first partner of Artesia Technologies in the Asia Pacific region for implementing Artesia's DAM solution.
Digital Asset Management Solutions are now key for organizations to exploit their disparate media assets and re-purpose them, "said Manoj Punja, Vice President - Corporate Vertical, Wipro Technologies. "This strategic relationships reinforces our commitment to providing world class solutions for our clients in the Media and Entertainment industry," he added.
Working with Artesia, Wipro Technologies will offer integrated solutions to Media and Entertainment customers with Digital asset Management (DAM) as a core piece of the offering. Combined with Wipro's ability to minimize the risks of large system implementation and delivering on time and on budget, customers will now have the added advantage of world's leading Digital Asset Management solution delivered quickly and efficiently.
TELCO and Tata Finance to work together to enhance competitiveness
Tata Engineering and Locomotive Company Ltd has informed BSE that the company and Tata Finance hasve commenced an exercise to examine how the automotive finance business of Tata Finance Ltd and the Bureau of Hire Purchase Credits of Tata Engineering can enhance their competitiveness by working closer together while retaining separate legal entities.
VSNL signs new interconnection agreements with BSNL and MTNL
Videsh Sanchar Nigam Ltd has informed BSE that the company has signed new interconnection agreements with BSNL and MTNL. These agreements provide the basis for traffic settlement between the companies, underlined by the commitment of BSNL and MTNL to route all their outgoing traffic through VSNL.
Commenting on the development, Mr S K Gupta, Managing Director, VSNL said, "These agreements signed by VSNL follows several months of negotiations with BSNL and MTNL. VSNL can now look forward to securing its core international telephony business and aggressively implementing its ambitious growth plans in other telecom services areas such as National Long Distance telephony and Internet Telephony".
Ind Swift Laboratories enters into collaborative research pact with NIPER; files one patent; two more in pipeline
In a move that will provide added filling to its already considerable R&D strength, pharma Company, Ind Swift Laboratories Ltd has entered into collaborative research Pact with National Institute of Pharmaceutical Education and research, an autonomous institute under the ministry of Chemical and fertilizers, Government of India. It is also one of the premier institute for promoting medical education in India.
Under the pact the Ind Swift is joint working with NIPER for developing of new processes and has successfully developed and filed a joint patent in the therapeutic segment of Antithrombotics. This is a first patent by the Company and is aimed at exploring valued added US, European and Japanese markets. NIPER and Ind Swift Labs are jointly working on two more projects which may result in similar action in near future.
Commenting on the development Mr V K Mehta, Joint Managing Director told that, "We believe that the synergies between NIPER and Ind Swift will yield greater results in the future. As the collaborative efforts continues more patents will be filed in future."
As per the Company sources Company reserves all the rights for commercial use of these patents against the payment of royalty to NIPER.
GOI appoints nominee director on the board of ICICI Bank
ICICI Bank Ltd has informed BSE that the Government of India has nominated Ms Vinita Rai, Secretary (Banking & Insurance) as the Government Nominee on the Board of the Bank in place of Mr D C Gupta with effect from October 31, 2002.
