Nestle India Board to consider declaration of Interim Dividend

Nestle India Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on December 05, 2002 to consider declaration of Interim Dividend for the year 2002 if any. The Interim dividend for the year, 2002, if any, so declared shall be paid on/after December 20, 2002. Earlier, the company had informed that it has fixed December 11, 2002 as the record date for the said purpose.

M K Vadgama resigns from the Board of Excel Industries

Excel Industries Ltd has informed BSE that M K Vadgama has resigned from the Board of Directors of the Company.

Kesar Enterprises director expires

Kesar Enterprises Ltd has informed BSE that Anirudh Ambalal Kilachand, Director of the company has expired on November 23, 2002

Pentamedia Graphics Rectifies No of GDRs to be allotted to its depository

Pentamedia Graphics Ltd has informed BSE that the Board of Directors at its meeting held on November 25, 2002 have approved the allotment of 625,00,000 (62.50 million) GDRs underlying equity shares having par value of Rs 10 per share to the Company's depository "Deutsche Bank Trust Company Americas" (formerly Bankers Trust Company), for the purpose of said GDRs to be issued and allotted to investors as against the application for 648,00,000 GDRs. Earlier the company had informed BSE that the Board of Directors at its meeting held on November 25, 2002 have approved the allotment of 64,800,000 (64.80 million) GDRs underlying equity shares having par value of Rs 10 per share to the Company's depository "Deutsche Bank Trust Company Americas" (formerly Bankers Trust Company), for the purpose of said GDRs to be issued and allotted to investors.

Electrolux Kelvinator Board approves closure of Sanathnagar Compressor Plant

Electrolux Kelvinator Ltd has informed BSE that the Board of Directors at its meeting held on Tuesday approved the following: 1. The Board of Directors has approved the closure of the "Sanathnagar" Compressor Plant-an undertaking, subject to compliance with the provisions of Industrial Disputes Act, 1947 and all other laws and such other regulatory approvals/consents/permissions as may be required. 2. The Board of Directors has ratified the Memorandum of understanding ("MOU") executed by and between the company and the Allwyn Electrolux Union on November 21, 2002 of the Compressor Plant at Sanathnagar, Hyderabad, subject however to all such permissions / consents / approvals as may be required including from the shareholders, statutory / Government and / or other authorities. The Board has also decided to convene an Extra-ordinary General Meeting of the Shareholders of the company at an appropriate time for obtaining Shareholders' approval to the revised strategy for the Sanathnagar Plant and transaction contemplated by the MoU. 3. The Board of Directors has considered, discussed and agreed that in view of the unfavorable commercial developments, it was neither in the interest of the Company nor financially viable to formalize the deal with Bharat Compressors Ltd for the disposal of Company's compressor business located at Warora (Maharashtra) and Sanathnagar (Andra Pradesh) even if the shareholders gave their approval to the resolution under section 293 (1) (a) of the Companies Act. 1956, pursuant to the Postal Ballot Notice dated October 18, 2002 the results whereof are under compilation by the Scrutinizer appointed for this purpose. As per the Notice of Postal Ballot, the result of the postal Ballot will be announced by the Chairman/Managing Director of the company on November 29, 2002. At such time, the Chairman/Managing director of the company will announce to the shareholders that the deal with Bharat Compressors Ltd will not go through even though the shareholders may have given their consent to the resolution. 4. The Board of Directors has authorised the company officials to formulate execute/implement a Voluntary Retirement Scheme(s) ("VRS") for the workmen at the company's compressor plant in Sanathnagar, Hyderabad in accordance with the MoU. 5. The Board of Directors has also authorised the company officials to formulate execute / implement Voluntary Retirement Scheme(s) ("VRS") for the executive employees at the company's compressor plant in Sanathnagar, Hyderabad.

Financial Technologies introduces STP-Gate

Financial Technologies India Ltd (FTIL) on Tuesday launched STP-Gate™, a comprehensive platform ensuring seamless, secure convergence and interface between Fund Managers, Brokers and custodians; at a seminar on Straight Through Processing, Building Global Efficiencies. FTIL is India's leading IPR Company, with focus on delivering mission critical STP applications comprising products, components and productised services for the Financial Services Industry. FTIL is also a global STP partner of Omgeo, the worldwide leader in providing STP services. This partnership delivers a seamless STP infrastructure solution that enables trade enrichment and settlement. Meeting all technology requirements as stipulated by SEBI, STP-Gate™ allows online message flows between various market participants conforming to ISO 15022 messaging structures under a fully secure 128bit SSL network. It also eliminates all manual interfaces and related costs and delays. The use of Digitally Certified Messages, now legally binding significantly reduces paperwork. All data is made available in an electronic format, thereby eliminating the need to manually key in transaction details by every market participant.

Nicholas Piramal Board to consider Merger of GBDFC with the company

Nicholas Piramal India Ltd has informed BSE that a meeting of Board of Directors is scheduled on November 29, 2002 to consider a proposal to merge Global Bulk Drugs & Fine Chemicals Pvt Ltd with the company. GBDFC manufactures Active Pharmaceutical Ingredients (APIs) and Intermediates for global markets. The GBDFC plant, located near Hyderabad, is USFDA approved, with approval obtained for the facility as a whole (and not merely for a single product line) without any deficiency or non-conformity (i.e. without any 483's). In addition to the USFDA approval the plant also holds accreditations and approvals from MCA of UK, TGA of Australia, European Drug Authorities, Canadian Drug Authorities, ISO 14000 and 9001. GBDFC's plant maintains a global standard of quality and its manufacturing facilities are as per cGMP standards. The proposal for merger does not envisage issue of equity capital by NPIL. NPIL had invested Rs 395 million in Preference Shares of GBDFC which will be redeemed in cash before the merger is effected. On receiving appropriate approvals for the merger (bot internal and statutory), NPIL's turnover on an annualised basis will go up by Rs 600 million in the Financial year 2002-03 primarily of exports.

Gillette India Shareholders approve sale of company's Geep Battery business

Gillette India Ltd has informed BSE that as per the results of Postal Ballot announced on Tuesday, the Shareholders of the company have approved the sale of Company's Geep Battery business. Out of total 2,88,18,524 votes polled 2,87,87,772 (99.99%) votes were in favour of the resolution.

B R Somayaji resigns from the Board of California Software Co

California Software Co Ltd has informed BSE that Mr B R Somayaji has resigned from the Board of Directors of the Company.

MsourcE, A wholly owned subsidiary of Mphasis BFL to provide customer care services to USWCC

The MsourcE Corporation, a wholly owned subsidiary of Mphasis BFL Ltd, has announced on Tuesday that it has entered into a partnership to provide the complete gamut of customer care services to the US Women's Chamber of Commerce™ (USWCC), a not-for-profit membership organization for business and career women dedicated to developing leaders, accelerating economic growth, and providing a community voice for women. The partnership with USWCC gives MsourcE a unique competitive edge by providing a window to the emerging leadership of tomorrow - the middle market of maturing women-owned businesses and the growing ranks of career women who are moving into higher levels of management. Consequent to this partnership with USWCC, the parent Company, Mphasis will be re-designing USWCC's web portal and creating a complete CRM system for USWCC. This will enable USWCC to do intelligent marketing and also be a complete Database Management System for USWCC and its affiliate members. Mphasis BFL is a leading provider of software and system integration technology for consumer-focused corporations.

Tamil Nadu Newsprint announces change in Directorship

Tamil Nadu Newsprint and Papers Ltd has informed BSE that Thiru R S Agarwal has been appointed as Director of the company in place of Thiru E S Jayaraman with effect from November 14, 2002.

Dr Agarwal's Eye Hospital Director expires

Dr Agarwal's Eye Hospital Ltd has informed BSE that Mr Mohd Ahmad has ceased to be a Director of the company on account of his death on November 12, 2002.

Vaibhav Textiles makes an open offer for acquisition of Equity Shares of Rai Saheb Rekhchand Mohota Spg & Wvg Mills

Rai Saheb Rekhchand Mohota Spinning & Weaving Mills Ltd has informed BSE that Vaibhav Textiles Pvt Ltd, Hinganghat has made an open offer for acquisition of 3,08,000 Equity Shares of the company through a Public Announcement. As informed by the company Vaibhav Textiles Pvt Ltd has entered into an agreement with Ellechant Securities Pvt Ltd and Priya Viniyog Pvt Ltd for acquisition of 7,30,000 Equity Shares subject to compliance of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The Specified Date is December 2, 2002 Date of Opening of the Offer is January 21, 2003 Date of Closure of the Offer is February 19, 2003

Monnet Ispat to increase Production Capacity

Monnet Ispat Ltd has informed BSE that it has decided to increase the capacity of Sponge Iron from 2,30,000 tpa to 3,00,000 tpa at the existing facilities at Raipur, Chhattisgarh. As informed by the company, the said expansion will be financed mainly through internal accruals and partly through debts. The expansion will be ready by May 2003 when the company will start consuming coal from its own mines at Raigarh, the implementation of which is under way.

T P R Mohana Rao appointed as Chairman & MD of Tamil Nadu Newsprint

Tamil Nadu Newsprint and Papers Ltd has informed BSE that Thiru P Rama Mohana Rao, IAS has been appointed as Chairman and Managing Director of the company with effect from November 15, 2002.

Hind Oil Exploration PY-3-D3 Well at Cauvery Basin suffers Severe Damage

Hindustan Oil Exploration Company Ltd is one of the consortium partners in PY-3 Block in the Cauvery Basin which constitutes the main stream of revenue for the Company. The company has informed BSE that in the said block, one of the wells PY-3-D3 was being worked over. A lateral section was drilled from the well and upon activation, the well flowed about 3500 barrels per day on November 9, 2002. On November 10, 2002 due to reportedly rough weather conditions, the rig moved violently and drifted away from the top of the well carrying the sub-sea equipment along with it, thereby causing severe damage to the well. Detailed investigations of the incident are being carried out by the operator of the block. Well control and sub-sea equipment is fully covered by insurance and the underwriters have been informed about the potential claim. The incident has caused the delay in production (about 2500 barrels per day, of which the Company's share is 21%) from the said well by few months. Precise details will be available on completion of the investigation. No seepage of oil in the sea was reported. The operator has taken expeditious steps with respect to safety and to restore normalcy.

Lok Housing & Construction members approve delisting of its Equity Shares from DSE and ASE

Lok Housing & Construction Ltd has informed BSE that the members of the company at the Annual General Meeting held on September 27, 2002 have approved the delisting of Equity Shares of the Company from Delhi Stock Exchange and Ahmedabad Stock Exchange.

Surya Agroils announces change in management structure

Surya Agroils Ltd has informed BSE that Shri Jagdish Narayan Chanda, Managing Director of the company has resigned from Directorship and from the post of Managing Director of the company. The same has been accepted by the Board of Directors in its meeting held on October 31, 2002. The Board of Directors has appointed him as President of the company at the same meeting. Shri Sundeep Maheshwari has been appointed Additional Director and Managing Director of the Company.

Pantaloon Retail India Board approves issue of Shares on Preferential basis

Pantaloon Retail (India) Ltd has informed BSE that the Board of Directors at its Meeting held on November 23,2002 has decided to issue 8,65,000 Equity Shares of Rs 10 each at a premium of Rs 40 per share to Promoters and Associates determined in accordance with the guidelines issued by the Securities and Exchange Board of India. This allotment is subject to the approval of members in the ensuing AGM.

Pentamedia Graphics Board approves allotment of GDRs to its depository

Pentamedia Graphics Ltd has informed BSE that the Board of Directors at its meeting held on November 25, 2002 have approved the allotment of 64,800,000 (64.80 million) GDRs underlying equity shares having par value of Rs 10 per share to the Company's depository "Deutsche Bank Trust Company Americas" (formerly Bankers Trust Company), for the purpose of said GDRs to be issued and allotted to investors.

IPCL clarifies on news item on strike

With reference to the news article appearing in a leading financial daily titled "IPCL Employees Serve strike Notice" Indian Petrochemicals Corporation Ltd has informed BSE that although the Unions have served the strike notice indicating violation of the settlement yet the Corporation feels there is no violation of the settlement by switching over to the new office timings. The Corporation is contesting the plea of the Unions in conciliation before the Assistant Labour Commissioner, who has listed this case for discussion on November 25, 2002. IPCL has further informed that the functioning of the Corporation has been declared as "Public Utility Service" under the Industrial Disputes Act by the Government of Gujarat. Consequently, any strike notice issued by the Unions automatically gets admitted into conciliation and any strike by the Unions or its members during the pendency of the conciliation proceedings is illegal. The Corporation have also discussed the matter with the labour authorities and they are also of the view that Unions would not resort such an extreme step of proceeding on strike.