Vikas WSP clarifies on news item

With reference to news item appearing in a financial daily Vikas WSP Ltd has informed BSE that the financial daily has speculated about bonus issue on their own or taking into account the market talks as the company right now has no plan to come out with a bonus issue As regards the item on Kimberly Clark the company has said that they have been developing guar polymer for babies dipper and super absorbent for the female for the last two years for Kimberly Clark. Recently the product developed was fully approved for use and they are now getting big market trial. So they have just placed a small order. The big order was fetched by the company from Hellyburton USA (Economy) for natural gas applications. So the financial daily has made a mistake in mentioning the name of the company who placed order. However the order has been received from the U.S. customer but the same is for Hellyburton and not for Kimberly Clark. A meeting of the Board of Directors is scheduled on December 05, 2000 for the announcement of EGM date for approval of preferential allotment for Baroda project.

Temproray Lockout at J K Pharmachem factory

J K Pharmachem Ltd has informed BSE that the factory situated at SIPCOT Industrial Complex, Cuddalore, Tamil Nadu is temporarily Closed/Locked out with immediate effect due to willful illegal go slow strike in a concerted action, indiscipline and disorderly behaviour of workmen in the factory premises.

Datapro Information fixes record date for stock split

Datapro Information Technology Ltd has fixed the record date as January 08, 2001 for splitting the nominal value of the equity shares of the company. Earlier the Board of the company at its meeting held on August 31,2000 had split the equity shares of the company from Rs 10/- per share to Rs 2/- per share.

Apple Finance clarifies on news item

With reference to news item appearing in a financial daily dated November 26, 2000 Apple Finance Ltd has informed BSE that as part of treasury management, the Company stopped acceptance of fresh deposits from March 1,1999 and soon thereafter the renewal of the existing fixed deposits was also stopped from April 1,1999. Accordingly, the fixed deposit base has been brought down to the currernt level of Rs.60 million from its peak levels of Rs.4300 milllion in June 1997. This was indeed great strain on the resources of the Company. Added to this, the Company has paid interest on fixed deposits in excess of Rs 1500 million during this period. Thus, in aggregate the total payout to the fixed depositors is in the range of about Rs.6000 million including principal and interest. Due to this funds outflow, there has been delay in meeting the obligations of debenture hotders (wholesale debt segment) and cash credit. The company is meeting with all the bankers and financial institutions to seek additional time to meet the obligations. Mr Atul K. Nishar continues to be the promoter of the Company although he has stepped down from the Board of Directors of the Company. The press report, which alleges that Mr. Atul Nishar has withdrawn his personal guarantee, is factually incorrect. The company has got the personal guarantee waiver after convincing the consortium banks in the normal course.

Zicom Board approves ESOS

The Board of Zicom Electronic Security Systems Ltd. has approved the issue of 5,00,000 options to the eligible employess under the Employees Stock Option Scheme. The Board of Directors has constituted a Compensation Committee for administration & superintendent of the scheme, consisting of a majority of independent Directors. The Company has also decided to settle a trust in the name of Zicom Employees Stock Option Trust. The Trustees of the Trust are to be appointed from the management and the employees both. The trust shall be responsible to implement and administer the Stock Option Scheme & shall hold the Options/Shares under the scheme on behalf of the eligible employees and transfer the same to them in accordance with the scheme. The trust shall work in close coordination with the Compensation Committee. Although the Board has decided to issue total 5,00,000 options as per the shareholders approval, the Compensation Committee may issue the same in one or more trenches depending upon the various criteria fixed under the stock option and vesting of option, which may extend up to 5 years.

Baron Infotech inducts 2 additional directors

The Board of Baron Infotech Ltd. at its meeting held on December 01, 2000 has inducted two additional Directors, Shri S Bhattacharya as Chairman & Managing Director and Mr. T.V.S.N. Raju as Additional Director respectively. The Company has further informed BSE that since Mr. N.V.Rama Raju has expressed his desire to focus on the Infotech, core business of the Company, the Board of Directors accepted his resignation as the Managing Director & resolved that he may be designated as the Executive Director (I.T).

BSE imposes Additional Volatility Margin on 20 scrips

BSE has imposed Additional Volatility Margin(AVM) on the following scrips for the settlement No. 037/2000-2001 commencing on Monday, December 04, 2000. The Additional Volatility Margin would be computed on the net outstanding Purchase or Sales position as may be applicable including carryforward positions at the end of day at the rate given below. The rate of Aadditional Volatility Margin would remain unchanged for the entire settlement. Sr.No CODE NAME OF THE COMPANY GROUP AVM % 1 31429 Advent Computer Services Ltd. B2 25.00 2 32351 Aksh Optifibre Ltd. B2 15.00 3 17544 C-Mac Centum Electronics Ltd. B1 15.00 4 32364 Cyberscape Multimedia Ltd. B2 25.00 5 24170 DSQ Biotech Ltd. B2 25.00 6 24600 Flex Chemicals Ltd. B2 15.00 7 32313 Gesco Corporation Ltd. B2 10.00 8 31439 Goldstone Technologies Ltd. B2 10.00 9 24330 Jayant Agro-Organics Ltd. B1 10.00 10 32291 Kopran Drugs Ltd. B2 10.00 11 31417 Mega Corporation Ltd. B2 15.00 12 17334 Motherson Sumi Systems Ltd. B1 10.00 13 12115 Rose Merc. Ltd. B2 10.00 14 295 Sesa Goa Ltd. A 15.00 15 3804 Shri Dinesh Mills Ltd. B1 25.00 16 8978 SPL Infoweb Ltd. B2 10.00 17 26707 Toubro Infotech & Industries Ltd. B2 25.00 18 7458 United Breweries Ltd. B1 15.00 19 430 United Western Bank Ltd. B1 10.00 20 26441 Vision Technology India Ltd. B2 15.00

Maars Software implements DMS for Cavin Care

Maars Software International Ltd. has recently completed implementation of a Distribution Management Solution (DMS) for Cavin Care Ltd., a Chennai based FMCG Company.

ICICI Infotech acquires Ajax Software

ICICI Ltd. has informed BSE that, its IT subsidiary, ICICI Infotech Ser. Ltd. has acquired 100% of the equity of Ajax Software Solutions Ltd. for a consideration of Rs.181.40 million.

Godrej Soaps to incorporate EVA framework

Godrej Soaps Limited has decided to incorporate the EVA framework (or Economic Value Added) into its decision making, management reporting and incentive compensation systems. The company has engaged Stern Stewart & company (the US management consulting firm that pioneered the development of the EVA framework) to assist it in this effort.

Indo Gulf clarifies on news item

With reference to news item appearing "Indo Gulf can bring foreign ally in Dahlej" in a financial daily dated November 30, 2000 Indo Gulf Corporation Ltd has informed BSE that at this point of time there is no move to induct an equity partner in Dahej Harbour &Infrastructure Ltd (DHIL). Any view expressed on the above mentioned issue by the financial daily is entirely theirs.

Wipro clarifies on news item

With reference to news item appearing "Wipro's race for 74% stake in HTL" in a financial daily Wipro Ltd has informed BSE that it is not Wipro Ltd but it its Wipro ePeripherals which is in discussion with HTL on this issue. Wipro ePeripherals incidentally is a company in which Wipro holds 39%.

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