ICICI Bank has informed BSE that it will publish audited results within 3 months from the end of the last quarter of the financial year. In such a case unaudited results for the last quarter will not be published.
Further Bank has informed that in view of the impending merger of ICICI Ltd with ICICI Bank, they will publish the audited results of the merged entity for the year ended March 31, 2002 within 3 months from the end of the year (June 30, 2002).
R C Agarwala appointed as Compliance Officer of RPG Transmission
The Board of Directors of RPG Transmission Ltd at its meeting held on March 28, 2002 has appointed Shri R C Agarwala, Vice President- Finance & Commercial, as the Compliance Officer of the company instead of Mr Nageen Arora.
Punjab Alkalies & Chemicals announces change in management structure
Punjab Alkalies & Chemicals Ltd has informed BSE that Punjab State Industrial Development Corporation Ltd has nominated Mukul Joshi, IAS, Principal Secretary to the Govt. of Punjab, Department of Industries & Commerce, as Director and Chairman of the Board of Directors of the Company in place of Mr Ramesh Inder Singh, IAS w e f March 15, 2002.
Wartsila India Q1 results on April 30, 2002
Wartsila India Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on April 30, 2002 to consider the unaudited financial results for the first quarter ended March 31, 2002.
Rain Calcining to examine remedies for mitigating APERC order
Rain Calcining Ltd has informed BSE that recently Andhra Pradesh Electricity Regulatory Commission (APERC) have notified the power tariff applicable to different categories of power consumers effective April 01, 2002.
In respect of power generated and supplied by the Company, the agreement with Transmission Corporation of Andhra Pradesh Ltd (APTransco), inter alia, provide that the surplus power (after allowing for in plant consumption) delivered to the State grid will be wheeled by APTransco to high tension industrial units in the state of Andhra Pradesh and the wheeling services, at specified percentages of wheeled energy, will be reduced or deducted from the energy wheeled to the Company's power customers. However, as per the recent APERC order, it is proposed to levy wheeling charges of 50 paise per kWh of wheeled energy in cash. Further, the Company is required to compensate for system losses in kind at 28.40% of the wheeled energy which, in effect, will result in an additional cost of Rs 1 per kWh of wheeled energy.
In view of the adverse impact of the above order of APERC, the financial and cash flow position of the company will be affected and the Company is examining the various remedies available to it for mitigating the impact of the APERC order.
HCL Tech Q3 results on April 22, 2002
A meeting of the Board of Directors of HCL Technologies Ltd will be held on April 22, 2002 to inter-alia consider and take on record the un-audited financial results of the company for the quarter ended March 31, 2002.
LIC sells 20,56,448 equity shares of Cadbury India
Life Insurance Corporation of India has sold 20,56,448 equity shares of Rs 10 each of Cadbury India Ltd @Rs 500 per share to M/s Cadbury Schweppes plc alongwith Cadbury Scheweppes Overseas Ltd as PAC and Cadbury Scheweppes Mauritius Ltd.
Container Corp announces change in Directorship
Shri S C Misra has been appointed as Director (Domestic Divn) of Container Corporation of India Ltd wef March 26, 2002, in terms of Railway Board's letter.
G G Dandekar Board to consider EGM for buy-back equity shares
A meeting of the Board of Directors of G G Dandekar Machine Works Ltd will be held on April 12, 2002 to consider Extra-Ordinary General Meeting for further buy-back of equity shares.
Annapurna Foils fixes record date for the purpose of Scheme of Amalgamation
BSE has informed the members of the exchange that Annapurna Foils Ltd has fixed April 15, 2002 as the record date for the purpose of Scheme of Amalgamation approved by AAIFR of Annapurna Foils Ltd., with Indian Aluminium Company Ltd. As per the Scheme the shareholders of Annapurna Foils Ltd, will be entitled to exercise the option of taking one share of Indian Aluminium Company Ltd., for every forty existing equity shares of the Company alongwith cash payment for shares of the Company being less than forty, at Rs 2 per share. The shareholders who do not exercise the option, shall be paid in cash at Rs 2 per share.
There will be no dealings in the aforesaid scrip with effect from April 08, 2002.
Scheme of Financial restructuring of Polar Pharma
Polar Pharma India Ltd had approached the various term lending institutions for restructuring of high cost debt and pursuant to the same, Industrial Investment Bank of India Ltd (IIBI) approved the proposal of the Company. The broad outlines of the approval granted by IIBI are as under:
1. Cut off date: September 15, 1999 for Rupee Term Loan (RTL) and December 15, 1999 for Corporate Loan (CL).
2. Reduction in the rate of interest from the existing document rate of LTPLR+ 3.50% p.a. The application rate of interest would be subject to annual review by IIBI.
3. Discount/waiver of the simple interest amounting to Rs 2.574 million accrued after the cut off date on both the loans subject to making down payment of Rs 2.00 million within March 31, 2002 positively. Waiver of the part of simple interest, entire compound interest and liquidated damages accrued/to be accrued from respective cut off date to March 15, 2002.
4. Conversion of the remaining simple interest accrued/to be accrued from cut off date to March 15, 2002 less the interest and down payment received after cut off date and also the discount/waiver mentioned above into interest free Funded Interest Term Loan (FITL) repayable in 12 quarterly installments w.e.f. June 15, 2007.
5. The event of declaration of dividend with prior approval of IIBI, the Company shall pay interest of FITL equivalent to the rate of dividend. In the event of default in repayment of principal and payment of interest and other monies due to IIBI as per revised schedule, IIBI shall have right to convert the entire outstanding FITL or the part thereof into equity shares of the company at par during the period of such default.
Lakshmi Mills Company appoints Additional Directors
Lakshmi Mills Company Ltd has informed BSE that the Board of Directors of the Company at their meeting held on March 27, 2002 have appointed Mr R Santharam and Mr V S Velayutham as Additional Directors of the Company w e f March 27, 2002.
P K Taneja appointed as Director of Gujarat Industries Power
Gujarat Industries Power Company Ltd has informed BSE that Gujarat Alkalies and Chemicals Ltd have appointed Mr P K Taneja, IAS as Director of the Company (GIPCL) w e f March 28, 2002 vice Mr D V Buch.
Sunder Bhagwan Das resigns from Directorship of Yash Management & Satellite
Yash Management & Satellite Ltd has informed BSE that Mr Sunder Bhagwan Das has resigned as a Director of the Company w e f March 28, 2002.
Damodar Pal appointed as Director of Ras Propack
Ras Propack Lamipack Ltd has informed BSE that Mr Damodar H Pal has been appointed as Director of the Company.
Darius C Shroff resigns from Directorship of Swastik Surfactants
Swastik Surfactants Ltd has informed BSE that Mr Darius C Shroff has resigned as the Director of the Company w e f March 29, 2002.
George Varghese appointed Hughes Tele.com's CEO
Hughes Tele.com India Ltd today (April 4, 2002) announced the appointment of Mr George Varghese as its President and Chief Executive Officer. Mr Varghese, previously the Senior Executive Vice President of Hughes Tele.com will replace Mr Prakash Bajpai who is leaving the Company. Mr Varghese, in his capacity as its chief operating officer, has overseen the successful sales, marketing, installation and customer service for over 160000 lines and has been with Hughes Tele.com since its inception. The Board of Directors will ratify his appointment shortly.
George Varghese appointed Hughes Tele.com's CEO
Hughes Tele.com India Ltd today (April 4, 2002) announced the appointment of Mr George Varghese as its President and Chief Executive Officer. Mr Varghese, previously the Senior Executive Vice President of Hughes Tele.com will replace Mr Prakash Bajpai who is leaving the Company. Mr Varghese, in his capacity as its chief operating officer, has overseen the successful sales, marketing, installation and customer service for over 160000 lines and has been with Hughes Tele.com since its inception. The Board of Directors will ratify his appointment shortly.
George Varghese appointed Hughes Tele.com's CEO
Hughes Tele.com India Ltd today (April 4, 2002) announced the appointment of Mr George Varghese as its President and Chief Executive Officer. Mr Varghese, previously the Senior Executive Vice President of Hughes Tele.com will replace Mr Prakash Bajpai who is leaving the Company. Mr Varghese, in his capacity as its chief operating officer, has overseen the successful sales, marketing, installation and customer service for over 160000 lines and has been with Hughes Tele.com since its inception. The Board of Directors will ratify his appointment shortly.
Amalgamation of Finolex Tech with Finolex Cables completed
Finolex Cables Ltd has informed BSE that the Company has filed a copy of the Court Order sanctioning the scheme of amalgamation with the ROC, Pune Maharashtra.
Earlier the Company had informed you that the High Court of judicature at Bombay has sanctioned the arrangement embodied in the scheme of amalgamation of Finolex Technologies Ltd (a wholly owned subsidiary of the Company) with Finolex Cables Ltd.
Pursuant to its amalgamation with the Company, the entire undertaking of Finolex Technologies Ltd (which is an unlisted Company) now vests in Finolex Cables Ltd and Finolex Tech. Ltd will stand dissolved without winding up
George Varghese appointed Hughes Tele.com's CEO
Hughes Tele.com India Ltd today (April 4, 2002) announced the appointment of Mr George Varghese as its President and Chief Executive Officer. Mr Varghese, previously the Senior Executive Vice President of Hughes Tele.com will replace Mr Prakash Bajpai who is leaving the Company. Mr Varghese, in his capacity as its chief operating officer, has overseen the successful sales, marketing, installation and customer service for over 160000 lines and has been with Hughes Tele.com since its inception. The Board of Directors will ratify his appointment shortly.
RR Sardesai ceases to be Director of Gareware Wall Ropes
Gareware Wall Ropes Ltd has informed BSE that Mr R R Sardesai ceased to be a Director and Wholetime Director - Technical of the Company with effect from March 30, 2002.
Sterling Guaranty announces change in management structure
Sterling Guaranty & Finance Ltd has informed BSE the following changes in the Board of Directors:
Mrs Meena D. Mehta, Director of the Company has resigned and her resignation was accepted at the meeting of the Board of Directors held on March 26, 2002.
The resignation of Mr Dhiren D Mehta as M D of the Company w e f April 01, 2002 has been accepted by the Board of Directors at its meeting held on March 26, 2002. Mr Dhiren D Mehta will continue to remain as Chairman of the Company.
Mr Mahendra K. Gandhi has been appointed as Manager of the Company w e f April 01, 2002
Carrier Aircon FY-02 results by June 30, 2002
Carrier Aircon Ltd has informed BSE that the Company will be announcing the Audited Financial Results for the year ending March 31, 2002 within permitted time ie June 30, 2002.
Further the Company will not be announcing the Unaudited Financial Results for the fourth Quarter ending March 31, 2002.
Hirofumi Nishio appointed as whole time director of Sesa Goa
Sesa Goa Ltd has informed BSE that Mr Hirofumi Nishio has been appointed as a wholetime director of the company in place of Mr M Kanezashi w e f April 01, 2002 at the board meeting held on March 27, 2002.
BSE revokes suspension of securities of two Companies w e f April 05, 2002
BSE has informed the members of the exchange that the suspension of securities of the below mentioned companies are revoked w e f April 05, 2002.
Scrip Code Group
1) Willard India Ltd. 504227 B2
2) Starlite Components Ltd. 517548 B2
CMC clarifies on news item
With reference to the news article appearing in a leading financial daily titled " CMC sees profit doubling next fiscal" CMC Ltd has informed BSE that since the takeover by TataSons/TCS, CMC Ltd has been constantly pursuing growth strategies and to this effect has been taking various steps to create shareholder value. As is evident from the financial results, the Company is witnessing an improvement in financial performance in recent times and management has maintained that it is hopeful of continuing this trend in the near future, through operating improvements and getting new projects. While analysts/investors/media might have different expectation of its performances in the future the Company's business objectives and internal targets are not certain and therefore cannot be precisely quantified at this stage.
The Company has further informed that it constantly explores alternatives for realising its business objectives and creating shareholder value. However, the company has clarified that there is no proposal under consideration by CMC's Board for a potential merger with the IT services and consultancy arm of its present TataSons/TCS.
Geodesic Information Systems denies news item
With reference to the news article appearing in a leading financial daily titled " Geodesic sees 400% spurt since listing" Geodesic Information Systems Ltd has informed BSE that it denies the rumours of indiatimes.com picking up stake in the Company. The Company has further informed that indiatimes messenger Mundu is developed by Geodesic that has proved to be universal and extremely user friendly.
Times Watches announces change in management structure
Times Watches Ltd has informed BSE the following changes in Directorship of the Company:
Mr Mark Collings & Ms Margaret Taylor resigned from the Directorship of the company w e f March 30, 2002.
Oriental Bank of Commerce FY-02 results by June 2002
Oriental Bank of Commerce has informed BSE that the Bank intends to adopt Audited Financial Accounts of the last quarter and for the financial year 2001-2002 by the month of June 2002. Accordingly, the Bank will publish these results within a period of 3 months from the end of the last quarter/financial year 2001-2002.
BSE imposes Special Margin on 2 scrips
BSE has informed the members of the exchange that Special Margin in the under mentioned scrip has been imposed as mentioned alongside with effect from today (April 4, 2002).
Special margins will be imposed on the basis of memberwise gross purchase or sale position (Clientwise net) as indicated below:
Code Scrip Name Group SP. Mrg Per Shares (%) (Purchases)
TISCO clarifies on news item
Tata Iron & Steel Company Ltd has informed BSE with reference to a news item appearing in a leading financial daily quoting "Tata Steel may opt for a ferrochrome plant in SA", that they have been exploring the possibility of setting up a Ferro Chrome Plant in South Africa as well as Australia. The matter is under discussion with South African authorities and a final decision will be taken in due course after considering the socio-economic advantages in these countries.
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