Konica Gelatine Corp to pay US $ 2.1 million to India Gelatine as compensation for termination of purchases of ossein

India Gelatine & Chemicals Ltd has informed BSE that Konica Gelatine Corporation, one of the collaborators and the single largest buyer of the company's ossein has decided to shut down the operations of their Gelatine plant in Japan. The Company's ossein was consumed in the above plant. As a consequence M/s Konica Gelatine Corporation will no longer buy ossein from the company. This termination is likely to substantially impact the performance of the company in the short to medium term. Konica Gelatine Corporation has agreed to pay India Gelatine & Chemicals Ltd a sum of US $ 2.1 million (United States Dollars two million one hundred thousand) as compensation for termination of the purchases and the consequences arising therefrom.

Mysore Cements to issue equity shares on preferential basis

The Directors Committee of Mysore Cements Ltd at its meeting held today (November 17, 2001) has decided to make the preferential issue of 91,29,161 equity shares of Rs 10 each at par to ICICI Ltd and IFCI Ltd.

Sterling Biotech to seek members approval for stock split

Sterling Biotech Ltd has informed BSE that the Board of Directors of the company has decided to hold AGM of the company on December 11, 2001 to seek members approval for reducing the face value of the equity shares of the company.

Electrolux Kelvinator fixes record date for the purpose of Scheme of Arrangement

BSE has informed the members of the exchange that Electrolux Kelvinator Ltd has fixed December 10, 2001 for the purpose of scheme of arrangement for reorganisation of share capital by issue of (i) two equity shares of Rs 10/- each fully paid up for every three existing equity shares of Rs 10/- each and (ii) one equity share of Rs 10/- each fully paid up for every three existing equity shares of Rs 5/- paid up (partly paid up) held of the Company. There will be no dealings in the abovementioned company w.e.f. November 23, 2001. Members are hereby informed that the no dealings in the equity shares (physical) of the aforesaid company will be available in the Exit-route scheme w.e.f. November 26, 2001.

Datanet Sys incorporates a wholly owned subsidiary

Datanet Systems Ltd has informed BSE that the company has incorporated a wholly owned subsidiary company 'Datanet eCommerce Services Ltd.'. The company has received the Certificate of Incorporation from ROC, Karnataka.

Strike at Veraval unit of Indian Rayon

Indian Rayon & Industries Ltd has informed BSE that all the workmen of Rayon Division of the Company at Veraval (Gujarat) did not report for work on November 14, 2001 leading to total stoppage of the plant operations. In view of the illegal strike, the Company has notified to the workmen that it will not be possible to continue to work the factory effective from "B" Shift of November 14, 2001. The Rayon Division of the Company at Veraval produces Viscose Filament Rayon Yarn (15000 MT per annum) and Caustic Soda (33000 MT per annum).

Khyati Multimedia-Entertainment to consider interim dividend

Khyati Multimedia-Entertainment Ltd has informed BSE that, in lieu of the performance of the company during the 2nd quarter ended on 30.09.01 for the financial year 2001-02 the Board of Directors of the company is considering to announce an interim dividend which will be decided by the Board of Directors of the company in its meeting after obtaining requisite approvals of the Financial Institutions and company's bankers.

Shareholders of Alps Industries reduce dividend for FY-01

Alps Industries Ltd has informed BSE that at the AGM of the company, the shareholders of the company have proposed to reduce the rate of dividend on the equity shares from 20% to 5%. Hence, now the company has declared 5% dividend instead of 20% dividend on the equity shares of the company for the year ended on 31.03.01.

Mahesh Rao resigns from the Board of Federal Bank

Federal Bank Ltd has informed BSE that Shri U Mahesh Rao, a member of the Board of Directors of the Bank, submitted his resignation from the Board of the Bank and the Board of Directors accepted and recorded the same at its meeting held on November 16, 2001.

Strike called off at AP Papers Mills Coastal Papers division

Andhra Paper Mills Ltd has informed BSE that following agreement with the labour unions of Coastal Papers, a division of the company situated at Industrial Area, M R Palem, Godavari District, Andhra Pradesh, the strike by the workers has been called off and the workers of the said division resumed duties from November 15, 2001.

Snowcem Board to consider buy back of equity shares

Snowcem India Ltd has informed BSE that a Board Meeting will be held on November 27, 2001 to consider buy back of equity shares in terms of amendment to the Companies Act vide ordinance dated October 23, 2001 and SEBI (Buy Back of Securities) Regulations 1998 to buy back up to 10% of the equity capital and free reserves of the Company.

Silverline Tech to seek members approval for issue of convertible warrants on preferential basis

Silverline Technologies Ltd has informed BSE that the Board of Directors at their meeting held on November 13, 2001 has decided to seek the approval of the members of the company, at the forth coming Extra Ordinary General Meeting, convened for December 17, 2001, for the following matters: 1. Issue on preferential basis 20,000,000 warrants convertible into equity shares on a one to one basis, at a price to be determined in terms of the preferential allotment guidelines of SEBI, to Subra Mauritius Ltd, a Promoter Company. 2. Acquisition of eComServer Inc, USA through an ADR swap route, by the issue of upto a maximum of 6.8 ADSs (equivalent to 13.6mn equity shares of the company). This is subject to regulatory approvals. eComServer Inc, a software design and services company specializing in custom designed IVR/CTI solutions in partnership with Avaya and B2B and B2C e-commerce solutions, is headquartered in Princeton, NJ, USA and has offices in Hyderabad, India. It currently employs 150+IT professionals comprising of developers, analysts and architects.

Sundaram Clayton together with subsidiaries holds 58.44% equity of TVS-Suzuki

TVS Suzuki Ltd has informed BSE that in terms of Rule 7(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 M/s Anusha Investments Ltd (AIL), a wholly owned subsidiary of Sundaram-Clayton Ltd (SCL) has acquired 60,00,000 equity shares of the Company from Suzuki Motor Corporation, Japan on November 15, 2001. The shareholding of Anusha Investments Ltd as on date is 1,14,00,000 equity shares (49.35%) in the paid up equity capital of the company viz. 2,31,00,070 shares of Rs 10/- each SCL, the holding company of AIL holds 21,00,000 equity shares (9.09%) in the Company. After the acquisition, SCL together with its subsidiary AIL now holds 58.44% in the paid up equity capital of the Company.

BSE imposes AVM on 16 scrips

BSE has informed the Members of the Exchange that Additional volatility Margin(AVM) has been imposed on the following scrips for the settlement No. 035/2001-2002 commencing on November 19,2001. AVM would be computed on the net outstanding Purchase or Sales position as may be applicable at the end of day at the rate given below.The rate of AVM would be remain unchanged for the entire settlement. CODE AVM NAME OF THE COMPANY GROUP Purchase / Sales % 32385 Aztec Software and Technology Services Ltd. B1 10.00 3960 Bharat Bijlee Ltd, B2 15.00 32346 Blue Star Infotech Limited. B1 10.00 2865 Forbes Gokak Ltd. B1 10.00 32312 Geometric Software Solutions Co.Ltd. B1 10.00 32175 Infotech Enterprises Ltd. B1 10.00 24826 Jupiter Bioscience Ltd. B1 10.00 32337 Mascot Systems Ltd. B1 10.00 32407 Moschip Semiconductor Technology Ltd. B2 10.00 17447 R S Software India Ltd. B1 10.00 11076 Sat Investeck Ltd. B2 10.00 24552 Shasun Chemicals And Drugs Ltd. B1 10.00 26807 South East Asia Marine & Construction Ltd. B1 25.00 18018 Sri Vishnu Cement Ltd., B1 15.00 32348 Subex Systems Ltd B1 10.00 32375 Tips Industries Ltd. B1 10.00

N A Sirur to acquire 24.07% equity of Giddings & Lewis India through open offer

NA Sirur Hubli Pvt Ltd has entered into a share purchase agreement with Fadal Engineering Co Inc USA on November 13, 2001 to acquire 22,88,000 fully paid up equity shares of Giddings & Lewis India Ltd (GLIL) representing 75.91% of the total issued, subscribed and paid-up capital and voting rights of GLIL at a price of Rs 0.50 (fifty paise only) per equity share payable in cash. Pursuant to SEBI regulations 1997 and subsequent amendments thereto, NASP makes this offer to the equity shareholders of GLIL for acquisition of 7,23,000 fully paid up equity shares of Rs 10 each at an acquisition price of Rs 3.50 per share representing 24.07% of the total issued subsribed and paid up capital of GLIL resulting into delisting on acquisition of 100% of equity shares. The specified date is December 07, 2001 The date of opening of the offer is January 07, 2002 The date of the closing of the offer is February 05, 2002