Padmalaya Tele board approves sale of animation division to its US subsidiary

The Board of the Directors of Padmalaya Telefilms Ltd at its meeting held today (December 22, 2001) has resolved to sell the Animation Division to its 100% USA subsidiary i.e. Padmalaya Telefilms Inc. The Board has also approved the preferential allotment of 1.50 million equity shares to the investors and authorise the Managing Director to finalise the Investors, the terms and conditions for placing it before the Board. These resolutions are subject to the approval of the shareholders and the concerned statutory authorities.

Ravalgaon Sugars Q4 net loss at Rs 12.38 million, FY-01 net profit down by 63.93%

Ravalgaon Sugar Farm Ltd has posted a net loss of 12.38 million in the quarter ended September 2001 as compared to a net profit of 19.67 million in the corresponding fiscal year. The net sales have gone down from 270.64 million in the quarter ended September 2000 to 239.74 million in the current quarter ended September 2001. Other Income has increased to 8.51 million in the quarter ended September 2001 as compared to 8.21 million in the quarter ended September 2000. Net Profit for year ended September 2001 has declined to 19.95 million as compared to 58.54 million in the corresponding year ended September 2000. Net Sales for the year ended September 2001 has reduced to 1008.39 million as compared to 1024.11 million in the period year ended September 2000. Other Income is 16.975 million in FY-01 as compared to 21.15 million in FY-00.

Gillette board appoints committee to review and implement consultants report

Gillette India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 21, 2001 has decided to constitute a Review and Implementation Committee to further study the findings of the Consultant and take necessary steps for implementation to enhance shareholder value. This decision has been taken following the report submitted by the Consultant. The Board has also considered and discussed among other items of the agenda, the variation in the payment of remuneration to the Managing Director.

BSE imposes AVM on 24 Scrips

BSE has informed the members of the exchange that Additional Volatility Margin(AVM) as per Exchange Notice NO.54006/2000 dated 23rd June, 2000 has been imposed on the following scrips for the settlement No. 040/2001-2002 commencing (today)December 24,2001. The 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 --- NAME OF THE COMPANY --- GROUP --- AVM (Pur/Sales%) 3960 Bharat Bijlee Ltd., B2 10.00 8571 Cochin Malabar Estates & Indus. Ltd B2 10.00 26785 Crest Communications Ltd. B1 10.00 150 Foseco India Ltd B1 10.00 32312 Geometric Software Solutions Co.Ltd. B1 25.00 20064 GKN Driveshafts (India) Ltd B1 15.00 24735 Hikal Ltd. B1 10.00 32175 Infotech Enterprises Ltd. B1 15.00 32268 Kale Consultants Ltd B1 10.00 8918 M.J.P. Leasing Ltd., B2 10.00 32337 Mascot Systems Ltd. B1 15.00 20059 Munjal Auto Industries Ltd. B2 10.00 31209 Nucleus Software Exports Ltd B1 10.00 31167 Orient Information Technology Ltd. B1 25.00 17447 R S Software India Ltd. B1 15.00 32370 Ramco Systems Ltd B1 15.00 370 Salora International Limited B1 25.00 11076 Sat Investeck Ltd. B2 15.00 12028 Shonkh Technologies International Ltd B2 10.00 31121 Sierra Optima Ltd B1 15.00 32274 Soffia Software Ltd B2 25.00 12299 Sterling Biotech Ltd. B1 10.00 32375 Tips Industries Ltd. B1 10.00 464 Ucal Fuel Systems Ltd., B1 10.00

D-Link (India) Board approves stock split

The Board of Directors of D-Link (India) Ltd at its meeting held today (December 22, 2001) has approved the sub-division of 1 equity share of Rs 10 each fully paid up into five equity shares of Rs 2 each fully paid up subject to the approval of the shareholders at the Extra-Ordinary General Meeting. The Board has also constituted a Compensation Committee of Directors to implement the D-Link India ESOP Plan.

LKP Merchant Financing board to consider MoU to transfer money changing business to subsidiary

A meeting of the Board of Directors of LKP Merchant Financing Ltd is scheduled to be held on December 24, 2001 to approve, execute and sign the Memorandum of Understanding between the Company and M/s. LKP Forex Ltd, a 100% wholly owned subsidiary for effecting the Transfer of Money Changing business to them.

Nuchem sub-committee to consider allotment of shares on preferential basis

Nuchem Ltd has informed BSE that a meeting of the sub-committee constituted by the Board for allotment of shares will be held on December 26, 2001 to consider preferential allotment of : 1. 736586 equity shares of Rs.10/- each at par to the ICICI Ltd. 2. 178044 equity shares of Rs.10/- each at par to Life Insurance Corporation of India. 3. 1152500 equity shares of Rs.10/- each at par to the promoters of the company including their associates, friends and associated companies. The proposed acquisition of the shares by the promoters as mentioned will not exceed 5% of the voting share capital of the company.

Lockout lifted at Premier Explosives' Godavarikhani factory

Premier Explosives Ltd has informed BSE that the Lockout at the Company's Explosive factory at Godavarikhani with effect from October 27, 2001 has been lifted on December 11, 2001.