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| CCAP Ltd announces 31% Interim Dividend for the year 2000-01 |
| CCAP Ltd. has informed BSE that the Board of Directors at its meeting held today (March 21, 2001) has recommended an Interim Dividend of 31% for the financial year 2000-2001. The Dividend so declared is subject to the approval of the shareholders.
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| Extra Ordinary Income helps Bayer India post 44.25% rise in Net profit for FY 2000 |
Bayer (India) Ltd has posted a net profit of Rs 72.70 million in the year ended December 31, 2000 as compared to Rs 50.40 million in the year ended December 31, 99. Total Income for the year ended December 31, 2000 is higher at Rs 6375.70 million as against Rs 6035.90 million in the same period last year.
The marketing network for the Pharmaceuticals products of the Company has been transferred to Bayer Pharmaceuticals Ltd (BPL) a 100% subsidiary of Bayer AG through Bayer Industries Private Ltd, with effect from July 27, 2000 for a lump-sum consideration of Rs 70 million which has been included in Extra Ordinary Income.
The Company has also entered into a Toll Manufacturing Agreement with BPL for the manufacture on their behalf of Pharmaceuticals Products.
The Company has reported that the figures for the previous year have been regrouped wherever necessary and not comparable with those of current year because of discontinuation of Pharmaceuticals business.
The Board of Directors of the Company has recommended a Dividend of 20% for the year ended December 31, 2000.
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| High Court sanctions Welspun India's Scheme of Arrangement |
Welspun India Ltd has informed BSE that the Hon'ble High Court of Gujarat has sanctioned the Scheme of Arrangement of the Company. As per the scheme, Cotton Spinning Division of the Company is to be demerged to a separate Company viz Welspun Cotton Yarn Ltd. The approval has been obtained on March 20,2001.
The Preference Shareholders, Equity Shareholders, Secured Creditors and Unsecured Creditors have already approved the Scheme of Compromise and/or Arrangement with modifications in their respective meetings held on February 15, 2001.
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| Bayer Diagnostics FY 2000 net up by 27.48% |
Bayer Diagnostics India Ltd has reported a net profit of Rs 46.95 million in the year ended December 31, 2000 as against Rs 36.83 million in the same period last fiscal. Sales and Operating Income are higher by 32.11%, at Rs 567.64 million in FY 2000 as compared to Rs 429.66 million in FY 99. Other Income for the year ended December 31, 2000 is at Rs 1.94 million as compared to Rs 2.79 million in the year ended December 31, 99.
The Board of Directors of the Company has recommended a Dividend of 75% ie Rs 7.50 per equity share for the year ended December 31, 2000.
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| RBI approves divestment of Colour-Chem's stake in Haycolour at par |
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Colour-Chem Ltd has informed BSE that the Exchange Control Department, Reserve Bank of India, Mumbai has conveyed today (March 21, 2001) its approval for disinvestment of the Company's holding of 24,000 Equity Shares of face value of Sri Lanka Rs 100 each in Haycolour Ltd, Sri Lanka to M/s Hayleys Textile Services Ltd, Sri Lanka at par value. The necessary action in this regard is being initiated.
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| SAIL announces appointment of new Directors on Board |
The Board of Directors of Steel Authority of India Ltd (SAIL) at its meeting held today (March 21, 2001) has appointed the following 6 persons as Non-Official Part-time Directors on the Board of the Company.
1. Shri R.V.Gupta, Retd. Dy. Governor, Reserve Bank of India.
2. Shri Deepak Parekh, Chairman, HDFC Ltd.
3. Prof Ram Prasad Sengupta, I.I.M. Kolkatta.
4. Shri Pyarimohan Mohapatra, I.A.S. (Retd).
5. Dr. Atul Sharma, Professor, Indian Statistical Institute, New Delhi.
6. Dr. Ishar Judge Ahluwalia, Director General, ICRIER.
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| Global Tele Board meeting to consider issue of additional shares postponed |
The meeting of the Board of Directors of Global Tele-Systems Ltd scheduled to be held today (March 21, 2001) has been postponed pending the completion of certain formalities.
The Company had earlier communicated to the exchange that the meeting of the Board of Directors of the Company was scheduled to be held today (March 21, 2001) to consider the allotment of up to 265,28,600 equity shares of the Company to the shareholders of Global Electronic Commerce Service Ltd (GECS) in terms of the scheme of amalgamation of GECS with the Company. After the aforesaid allotment, the paid-up equity share capital of Global Tele is expected to stand enhanced to Rs 70,25,21,420.
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With reference to news article appearing in a leading financial daily titled "Ballarpur Ind to buy Sinar Mas plant, equity for over Rs 500 cr" Ballarpur Industries Ltd (BILT) has informed BSE that the Company is not acquiring any stake in Sinar Mas Pulp and Paper (India) Ltd.
The Company has however stated that a Group Company BILT Paper Holdings Ltd (which is not a holding Company of Ballapur Industries Ltd) is in the process of finalising the acquisition of the shares of Sinar Mas Pulp and Paper (India) Ltd.
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| Weizmann Fincorp Board to make preferential issue to strategic investors |
The Board of Directors of Weizmann Fincorp Ltd has decided to issue 45,05,000 equity shares of Rs.10/- each at par on preferential basis, subject to necessary approvals, to the following companies/strategic investors :
1. M/s.Dilshad Consultancy Ser. Ltd.
2. M/s.Nasha Indentors Ltd.
3. M/s.Tapi Energy Projects Ltd.
4. M/s.Weizmann Ltd.
5. Om Mitra Securties Ltd.
6. Shri Harindra Singh
7. Shri Shailendra Singh
8. Mrs.Sangeeta Singh
9. Ms.Naina Singh
10. Shir Shaan Singh
11. Shri Karan Singh
12. Ms.Khushi Singh
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| Kinetic Engineering to consider allotment of shares under ESOS |
| A meeting of the Compensation Committee of Board of Directors of Kinetic Engineering Ltd is scheduled to be held on March 31, 2001 to consider the allotment of equity shares to the eligible employees exercising their option under ESOP Scheme.
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| Tata Yodogawa appoints new Director |
Tata Yodogawa Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (March 21, 2001) has appointed Mr. Rajendra Prakash Tyagi as Additional Director of the Company. The said appointment is with effect from May 15, 2001.
Mr. Tyagi has also been appointed as the Joint Managing Director which is to take effect from the same date.
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| Ispat Industries Board to consider Business Restructuring |
Ispat Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on March 23, 2001 to consider the Scheme of Financial Restructuring of Debts of the Company as approved by IFCI Ltd, the Lead Financial Institution.
The scheme intends to write down/conversion of existing equity into redeemable preference shares, conversion of part of the Rupee Debt for H.R. Coil project into equity and 1% Non-Cumulative Convertible Preference Shares and also envisages reduction in interest rate on Rupee Term Loans and ballooning of interest.
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| SRG Infotec Board approves sale of ERP Unit
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| SRG Infotec Ltd. has informed BSE that the Board of Directors of the Company has approved the sale of ERP unit along with all source codes and existing software to Procal Electronics India Ltd., Mumbai.
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| Pentasoft Technologies FY 2000-01 results on April 06, 2001 |
| The meeting of the Board of Directors of Pentasoft Technologies Ltd is scheduled to be held on April 06, 2001 to consider the Audited Accounts of the Company for the Financial year ending March 31, 2001.
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| Goldstone Tech. fixes record date for determining entitled shareholders as per scheme of arrangement |
Goldstone Technologies Ltd has fixed April 18, 2001 as the Record Date for determining the entitled shareholders of the Company as per the scheme of arrangement between Goldstone Technolgies Ltd and Goldstone Teleservices Ltd for hiving off of the Telecom Division of the Company to Goldstone Teleservices Ltd. The equity shares of the aforesaid Company will be available on Cum-Entitlement basis upto March 23, 2001 and Ex-Entitlement basis from March 26, 2001.
As per the scheme of arrangement, one equity share of Rs 4 each fully paid up of Goldstone Teleservices Ltd will be allotted for every one existing share of Goldstone Technologies Ltd, held.
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| RBI restricts investments in print media by Foreign Investors |
| The Reserve Bank of India vide its notification dated February 16, 2001 has amended Foreign Exchange Management (Transfer or issue of Security by a person resident outside India) Regulations, 2000 disallowing the purchase of shares and convertible Debentures of an Indian Company, engaged in print media sector by inter-alia, Foreign Institutional Investors (FIIs) and Foreign Venture Capital Investors.
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| Atlas Copco revises book closure |
Atlas Copco (India) Ltd has communicated to BSE that the Company has fixed the period from May 22, 2001 to June 01, 2001 as the Book Closure period for the payment of 37.50% Dividend.
With this, the date of Book Closure from April 17, 2001 to April 30, 2001 fixed by the Company earlier stands cancelled. The Annual General Meeting is scheduled to be held on June 01, 2001.
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| High Court approves demerger of Consumer Products Division of Godrej Soaps |
Godrej Soaps Ltd (GSL) has informed BSE that the High Court of Judicature, Bombay has sanctioned the demerger of the Consumer Products Division of the Company to Godrej Consumer Products Ltd (GCPL)with effect from the appointed date i.e April 01, 2001.
The Demerger is intended to be "classical" i.e both GSL and GCPL will have identical shareholding pattern at the time of demerger. The current subscribed and paid up capital of GSL (excluding calls in arrears of Rs 0.43 million) is Rs 59,82,87,800 divided into 5,98,28,780 equity shares of Rs 10 each. Upon the demerger becoming effective, the capital of GSL will be reorganised to Rs 34,89,72,690 divided into 5,98,28,780 shares of Rs 6 each. Additionally, the eligible shareholders of GSL on the record date, will be issued and allotted 5,98,28,780 shares of Rs 4 each in GCPL aggregating Rs 23,95,15,120. The name of GSL will be also changed to Godrej Industries Ltd.
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