Welspun India converts Debentures, Warrants into equity shares

Welspun India Ltd has informed BSE that, pursuant to the Order of the Hon'ble High Court of Gujarat dated March 20, 2001 the Fully Convertible Debentures (FCD) of Rs.730.06 million, Optionally Fully Convertible Debentures (OFCDs) of Rs.20 million, Optionally Convertible Cummulative Preference shares of Rs.175 million and Fully Convertible Preference shares of Rs.50 million have been converted into equity shares of Rs.10 each at a premium of Rs.63.675 per share on September 30, 2001

TTK Healthcare to divest holding in Sara Lee TTK

TTK Healthcare Ltd has informed BSE that, subject to necessary approvals, will divest its shareholding in the unlisted company Sara Lee TTK Ltd. On divestment materialising, the company's cash resources would increase significantly. Notwithstanding the divestment, the company will continue to distribute the products of Sara Lee TTK Ltd. and this distribution arrangement will remain intact.

M A Gowrishankar appointed Chairman of Titan Inds

Titan Industries Ltd has informed BSE that Mr M A Gowrishankar, Secretary, Industries Department, Government of Tamil Nadu, has taken over as Chairman of the Company from Mr A L Mudaliar who completed a 14-year tenure. Mr. Mudaliar announced his decision to step down at the Company's Annual General Meeting (AGM) on September 28, 2001. Mr M A Gowrishankar's appointment as Director & Chairman took effect at the Board Meeting held immediately after the AGM.

L M Thapar acquires 9261 equity shares of BILT

Ballarpur Industries Ltd (BILT) has informed BSE that Mr L M Thapar, one of the Promoters and Person having Control over the Company, has acquired 9261 Equity Shares of Rs 10 each of the Company. Consequent upon the said acquisition, the total shareholding of Mr Thapar has increased from 1,95,799 Equity Shares of Rs 10 each (being 0.27% of the paid up Equity Capital) to 2,05,060 Equity Shares of Rs 10 each (being 0.29% of the paid up Equity Capital).

BILT Q1 results on October 15, 2001

Ballarpur Industries Ltd has informed BSE that a meeting of the Board of Directors is scheduled to be held on October 15, 2001 for considering and taking on record the Unaudited Financial Results for the quarter ended September 30, 2001.

IDBI Bank to offer insurance products through its ATMs

IDBI Bank Ltd has informed BSE that IDBI Bank and TATA- AIG today (October 4, 2001) formally announced the launch of TATA- AIG general insurance products through select branches and ATMs. Addressing the press, Mr Gunit Chadha, Managing Director and CEO, IDBI Bank, said, We see our recently upgraded ATMs becoming contact points for dispensing value added products to our customers. We would like to provide convenience, accessibility and simplicity when our retail customers buy products from IDBI Bank. Offering TATA-AIG general insurance products is a demonstration of this objective." He went on to say that "We are building a customer centric organization in line with our service credo " what can I do for you?" and this launch proves our commitment to making IDBI Bank, the preferred choice for our over 3,00,000 retail customers." "At Tata-AIG, we believe in reaching out to the customer with quality products and here is a unique way of doing it-via the ATM. This is another first in our efforts to simplify the process of buying insurance cover. Our objective is to make the process of buying insurance an enjoyable and convenient experience", said Dalip Verma, Managing Director, Tata-AIG General Insurance Company Ltd. In the first phase Future Guard Plan will be introduced through IDBI Bank's ATMs at Nariman Point and Prabhadevi respectively. Subsequently in a planned roll out the product will be available to IDBI Bank account holders across branches and ATMs.

Members of India Cements approves 18% equity dividend for FY-01

India Cements Ltd has informed BSE that the members of the Company at the Annual General Meeting held on September 28, 2001 considered the recommendation of the Board of Directors and approved a dividend @ Rs 1.80 per fully paid up equity share of Rs 10 each.

Glaxo files documents connected with the merger with ROC

Glaxo India Ltd has informed BSE that both Glaxo India Ltd and Smithkline Beecham Pharmaceutical (India) Ltd have filed all the relevant documents connected with the merger with the Registrar of Companies (ROC), Karnataka and Mumbai. Smithkline Beecham Pharmaceutical (India) Ltd has now merged with Glaxo India Ltd to become GlaxoSmithKline Pharmaceuticals Ltd. The fresh Certificate of Incorporation, pursuant to the change of name of Glaxo India Ltd to GlaxoSmithKline Pharmaceuticals Ltd will be issued by the Registrar of Companies, Mumbai, shortly.

German Remedies Q2 results on October 24, 2001

German Remedies Ltd has informed BSE that a meeting of the Board of Directors is scheduled to be held on October 24, 2001 to consider the Unaudited Financial Results for the quarter and half year ended September 30, 2001.

IFCI sells 1.6% equity shares of Intron

IFCI Ltd has informed BSE that it has finalised on September 28, 2001, deal for sale of 5,00,000 equity shares of face value Rs 10 each of Intron Ltd to its promoter as buy-back. The above deal constitutes 1.6% of the paid up capital of M/s Intron Ltd.

Members of BHEL approve 30% dividend for FY-01

Bharat Heavy Elecricals Ltd (BHEL) has informed BSE that the members of the Company in the Annual General Meeting held on September 28, 2001 have approved dividend @ 30% for the year ended March 31, 2001 on the paid-up share capital of the Company of Rs 2447.6 million.

Glaxo fixes record date for ascertaining shareholders of SmithKline Beecham Pharma

Glaxo India Ltd has informed BSE that the Board of Directors of the Company at their meeting held today (i.e. October 4, 2001) have fixed the Record Date as November 9, 2001 for the purpose of ascertaining the names of shareholders of Smithkline Beecham Pharmaceuticals Ltd, who will be entitled to receive one equity share of GlaxoSmithKline Pharmaceuticals Ltd (face value Rs 10 per share) for every two equity shares (face value of Rs 10 per share) held by them in SmithKline Beecham Pharmaceuticals (India) Ltd

Tisco acquires 0.45% voting rights of Tata SSL

Tata Iron & Steel Company Ltd (Tisco) has informed BSE that consequent to the public announcement made on September 5, 2001, the Company has acquired 1,40,900 equity shares of Rs 10 each of Tata SSL Ltd. representing 0.45% of the voting rights at a price of Rs 27 per share on a spot delivery basis.

BSES clarifies on news item

With reference to the news article appearing in a leading financial daily titled, "Enron spikes Tata, BSES offer for Dabhol stake", BSES Ltd has informed BSE that due to the given uneconomical parameters of the project, BSES has no interest in taking up the Dabhol Power Company (DPC). The Company has further informed that the Dabhol Power Company is plagued with several disputes, which make it unattractive. The high capital cost of the project cast a shadow over the long-term viability of the plant as a load supply facility. Many fundamental issues will have to be addressed before any prudent investor would venture to buy the Dabhol Power Company (DPC). The excessive capital cost coupled with the high cost of dollar denominated fuel has resulted in power tariffs which were not affordable by any consumer. A complete financial re-engineering will have to be done before the project becomes viable, as has already been highlighted in the news item quoting BSES.

Asian Paints Q2 results on Oct 30, 2001

Asian Paints India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 30, 2001 to consider, inter alia, the following: 1) To consider and approve the unaudited results for the second quarter ended September 30, 2001 2) To consider the payment of interim dividend for the financial year ending March 31, 2002

GEB cuts power supply at Shree Ambeshwar Paper Mills Ankleshwar plant

Shree Ambeshwar Paper Mills Ltd has informed BSE that, company's Paper Manufacturing Plant at Ankleshwar is not in operations due to cutting down of power supply by Gujarat Electricity Board (GEB). The Company has filed a suit against GEB to restore the Power immediately subject to pending of suit, which the Directors under the legal advice are hopeful will be restored as early as possible. But due to above, results and profitability of the year is likely to be effected adversely.

Hughes Software Q2 results on October 11, 2001

A meeting of the Board of Directors of Hughes Software Systems Ltd is scheduled to be held on October 11, 2001 to take on record the unaudited financial results for the quarter and half-year ended September 30, 2001.

D Basu ceases to be a Director on SAIL Board

Steel Authority of India Ltd has informed BSE that Shri D Basu on completion of his tenure, he has ceased to be a Director on the Board of Directors of the company with effect from September 22, 2001.

Petron Engineering Construction to close down its hotel division

Petron Engineering Construction Ltd has informed BSE that the company has decided to close down its Hotel Division, Petron Highway Inn Resort from October 25, 2001 as on account of losses, the operations of the division have become uneconomical.

High Court directs Nahar Industrial Enterprise to seek approvals for scheme of amalgamation

Nahar Industrial Enterprises Ltd has informed BSE that, the Hon'ble High Court of Punjab & Haryana at Chandigarh has given order for convening the meeting of Equity Shareholders, Secured Creditors, Unsecured Creditors on October 27, 2001 to consider Scheme of Amalgamation of Oswal Cottom Mills Ltd. with the company.

Motorol Speciality Oils FY-01 dividend cancelled by shareholders

Motorol Speciality Oils Ltd has informed BSE that at the Annual General Meeting, shareholders of the company had sought cancellation of the proposed 5% dividend for the Financial Year ended March 31, 2001.

KEI Industries Board approves allotment of equity shares on preferential basis

KEI Industries Ltd has informed BSE that the Board of Directors of the company has approved the allotment of 30,76,000 equity shares of Rs 10 each at a premium of Rs 3 per share on preferential basis.

Hindustan Inks & Resins commissions EOU at Vapi

Hindustan Inks & Resins Ltd has informed BSE that, w.e.f. October 01, 2001, the company has commercially commissioned its 100% Export Oriented Unit at Vapi having 30000 MT p.a. of flushed pigments and 100000 MT p.a. of Inks manufacturing facilities.

Care revises Guj Ind Power NCD rating

Gujarat Industries Power Co. Ltd has informed BSE that, CARE has revised the rating of company's Privately Placed NCDs and 18% PCDs from BBB+ to BB.

ACC Sept-01 despatches at 0.987 million tonnes

Associated Cement Cos. Ltd has informed BSE that company's production and dispatch figures in September, 2001were as follows :- Cement Production(million tonnes) Cement Despatches(million tonnes) Sept. 2001 0.983 0.987 Sept. 2000 0.726 0.775 April / Sept. 2001 5.834 5.829 April / Sept. 2000 5.276 5.284

AAIFR approves scheme of rehabilitation scheme of Annapurna Foils

Annapurna Foils Ltd has informed BSE that, Hon'ble Bench of AAIFR has approved the scheme of rehabilitation of the company have directed Indian Aluminium Co. Ltd. to acquire the existing equity shares of Promoters of the company.

Trading in Pentamedia Graphics to continue at BSE

BSE has informed the members that the Honourable High Court at Chennai has passed an exparte order restraining the Exchange from suspending the trading in the aforesaid scrip w.e.f October 4, 2001. Accordingly, the trading in the scrip Pentamedia Graphics Ltd will continue until further orders of the Honourable High Court at Chennai. BSE has further informed that the Exchange is in the process of vacating the Ad - Interim injunction orders issued by the Honourable High Court at Chennai and trading in the aforesaid scrip will be suspended without any further notice period as soon as the necessary orders are obtained.

IPCL H1 results on October 27, 2001

A meeting of the Board of Directors of Indian Petrochemicals Corporation Ltd is scheduled to be held on October 27, 2001 to take on record the unaudited financial results of the Company for the half year ended on September 30, 2001 subject to Limited Review by the Auditors.

Polaris assessed CMMI 'Level 5'

Polaris Software Lab today (October 4, 2001) announced that it was the first organisation across the globe to be assessed on Software Engineering Institute- Capability Maturity Model Integrated (CMMI) - the latest model developed under the stewardship of the globally renowned quality rating center, the Software Engineering Institute (SEI) - US. Polaris Software has the unique distinction of being the first company in the world to be assessed and certified on this version. The CMMI model (ver. 1.02) was released by the SEI in August 2000 and provides an integrated approach across the enterprise for improving processes, while reducing the redundancy, complexity and cost, resulting from the use of separate and multiple capability maturity models (CMMs). According to Arun Jain, Chairman and Managing Director, Polaris Software Lab, this certification is one of the key steps in the organisation's overall gameplan. "With the combination of strategies falling in-place like organisation redesign, world-class infrastructure, progressive management team and widespread global reach, the CMMI Level 5 certified delivery process has pushed Polaris Software's growth synergies towards a Tier - I stature. With the current prevailing scenario, wherein outsourcing has attained strategic importance, Polaris gains the rightful edge of being the world's only CMMI Level 5 certified company". Importantly, CMMI has been built on the knowledge of the best system and software development practices. The new model brings in heightened integration in all processes by building on the key elements of optimisation through more clarity in focus and through logical grouping. At a media conference hosted in the city today, the Company announced that it had achieved this quality milestone, adding another strategic edge to its global outlook. "The CMMI rating was a conscious effort that we undertook to introspect, analyse and manage the various stages of the engineering process in greater detail. The CMMI quality certification ties in with our business objectives to create a global corporation that focuses on defect-free, on-time delivery with a consistent improvement in efficiency levels and productivity enhancement," said Sudha Ramesh, Vice President - Quality, Polaris Software Lab. Polaris already had an established Quality Management System (QMS) aligned to the ISO standards and the organization has been certified along ISO 9001 standards from the year 1998. The organisation was also aligned to SEI-CMM from the year 1995. In 2000, Polaris was certified on the newer ISO 9001:2000 standard. The new CMMI certification will provide the organisation with clear business benefits. Decreased defect levels increased productivity, and a reduced cycle time while the organisation's overall process performance is continuously improving. Sustained value addition for clients and a mutually beneficial long-term relationship. An enterprise-wide knowledge warehouse that has evolved and will serve as an effective source for reference and decision making. Increased levels of employee motivation. "With a continuous nurturing of the quality culture within the organisation, this certification is a huge leap forward for Polaris. The benefit to client will be felt more in the long term and will provide us with a sustainable competitive advantage going forward," said Govind Singhal, Executive Director, Polaris Software Lab.

Members of Zenith Infotech approve buy back of equity shares

Zenith Infotech Ltd has informed BSE that at the AGM of the company, members have passed Resolution for buy back of 29,45,000 (24.98%) equity shares of Rs 10 each of the company for an aggregate amount not exceeding Rs.103.10 million (representing 21.66% of the paid up equity capital and free reserves of the company) from the holders of the equity shares (subject to necessary approvals) or from the open market at a price not exceeding Rs 35 per share.

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