D Khaitan ceases to be MD of Williamson Magor & Co
Williamson Magor & Company Ltd has informed BSE that Mr D Khaitan has ceased to be the Managing Director of the Company on expiry of his term of appointment but will continue on the Board of Directors and has been designated as Vice Chairman.
The Board of Directors at its meeting held on November 25, 2002 has appointed Mr D Pal Chowdhury as the "Manager" of the company within the meaning of section 2 (24) and in compliance with the provisions of Section 269 of the Companies Act, 1956.
D-Link India Ltd has announced today that it has introduced a series of 22Mbps high-speed wireless network products for small and midsize businesses and enterprise workgroups. With this move, D-Link has expanded its product portfolio for wireless solutions that include wireless Cardbus Adapter-DWL 650+ (for laptop), Wireless LAN PCI Card DWL 520+ (for desktop PC) to provide excellent network connectivity and wireless Access Point- DWL 900 AP+ to speed up data transfer D-Link has pioneered the 22 Mbps WLAN technology in cooperation with Texas Instruments.
Wireless technology does away with the need for cabling to the desktop and offers increased mobility in the use of IT. It is this technology that has brought the entire expanse of the knowledge world virtually in one's pocket.
D-Link India has also added one more product to its wireless range - DWL 1800 series of 802.11b Wireless LAN Outdoor Bridges.
The DWL - 1800 series of 802.11b Wireless Outdoor Bridges connect LANs located in distant buildings at 11 Mbps speed. These bridges operate without any network wires and have unique features designed specially for outdoor applications, making it an ideal solution for wireless building-to-building connectivity.
R P Singh takes over as COO, European Operations of Blue Star Infotech
Blue Star Infotech Ltd has announced today (on December 03, 2002) appointment of Mr R P Singh as the Chief Operating Officer for its European Operations, based in London.
Mr R P Singh in his new role at Blue Star Infotech will be responsible for managing Blue Star Infotech UK and other European operations. Blue Star Infotech has subsidiaries in UK, branch offices in Continental Europe and business associates in many European countries.
Prior to being appointed COO, Blue Star Infotech (UK) Ltd Mr Singh was working as the Director - Consulting Services with HCL Technologies - Europe, based in UK.
Amalgamation of Kirloskar Power Supply Company with Kirloskar Oil Engines
Kirloskar Oil Engines Ltd has informed BSE that the Board of Directors at its meeting held on December 03, 2002 has approved the Scheme of Amalgamation of Kirloskar Power Supply Company Ltd with the Company with effect from April 01, 2002 subject to approvals from Shareholders and High Court at Mumbai.
The Board of Directors has also approved swap ratio. As per the swap ratio, the Shareholders of Kirloskar Power Supply Company Ltd will get 1 Equity Share of Rs 10 each fully paid of Kirloskar Oil Engines Ltd for every 61 Equity Shares of Rs 10 each fully paid held by them in Kirloskar Power Supply Company.
UBI to raise additional funds for its Tier II Capital requirements
Union Bank of India has informed BSE that the Bank intends to raise additional funds upto Rs 4000 million in one or more tranches by issue of bonds on private placement basis for its Tier II Capital requirement to shore up the CRAR (Capital to Risk Assets Ratio) subject to obtaining approval from the Ministry of Finance and Reserve Bank of India. Exact amount to be raised, coupon and tenor of bonds will be decided at the time of placement.
ACC announces November 02 despatches
Associated Cement Companies Ltd has informed BSE that Company's production and despatch figures in November 2002 were as follows: -
November 2002
Cement Production -- 1.065 million tonnes
Cement Despatches -- 1.069 million tonnes
November 2001
Cement Production -- 1.065 million tonnes
Cement Despatches -- 1.023 million tonnes
Cumulative production and despatches from April 2002 to November 2002 are
April-November 2002
Cement Production -- 9.114 million tonnes
Cement Despatches -- 9.082 million tonnes
April-November 2001
Cement Production -- 7.922 million tonnes
Cement Despatches -- 7.899 million tonnes
BIFR sanctions scheme of rehabilitation of Raymond Synthetics
Raymond Synthetics Ltd has informed BSE that the Board for Industrial & Financial Reconstruction (BIFR) has sanctioned a scheme for rehabilitation of the company subject to amendments/modifications set out in the order dated September 30, 2002. The sanctioned scheme with the said amendments has still not been received.
HPCL and GAIL sign agreement for formation of new JV Company
Hindustan Petroleum Corporation Ltd (HPCL) has informed BSE that HPCL and Gas Authority of India Ltd (GAIL) signed an agreement on November 29, 2002 for the formation of a Joint Ventures Company (JVC) to distribute and market environmentally friendly fuels in and around the cities of Andhra Pradesh. The JVC proposed to be named Bhagyanagar Gas Ltd, incidentally is a major step towards the development of clean fuel infrastructure in the State of Andhra Pradesh, as it will distribute and market Natural gas, CNG, Piped gas and Auto LPG.
The proposed joint venture company will distribute and market natural gas for use in residential, commercial, industrial and automotive sectors (CNG), Auto LPG and any other Gaseous fuels that may used in future. The JVC will invest in the development of required infrastructures, lay, operate and maintain its own pipelines by taking tap off / custody transfer from existing and future natural gas / pipelines of GAIL, set up retail outlets for Auto LPG/CNG etc. The JVC would also explore possibilities of distribution, sale and marketing of LPG / Auto LPG / CNG / Natural Gas in markets outside India.
According to the agreement, both HPCL and GAIL will hold 22.5% Equity Shares in the Joint Venture Company while the Andhra Pradesh Government will have an option to subscribe 5% of the Equity. The remaining 50% Equity Capital shall be offered to Financial Institutions, Strategic Investors.
HPCL would provide the required marketing / distribution expertise and assist in working out strategies for the growth of usage of environmental friendly gaseous fuels in the State of Andhra Pradesh. HPCL would also provide the required technical expertise for marketing of Auto LPG. GAIL will provide its technical expertise in construction, operation and implementation of CNG and piped natural gas distribution system. To start with HPCL and GAIL have completed feasibility for setting up Auto LPG stations, which envisages putting up 34 stations over the next 5 years in the various cities of Andhra Pradesh. The first 2 stations would be commissioned in Hyderabad and Tirupati shortly. Further, the areas to be covered for distribution of natural gas shall be identified on the basis of availability, requirement and feasibility for distribution of natural gas.
Kesoram Ind Board to consider Buy-back of Shares
Kesoram Industries Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 09, 2002 to consider Buy-back of Shares of the Company.
Wipro to implement ERP and GIS Solutions for CIDCO
Wipro Ltd has informed BSE that it is partnering with City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) in its initiatives to transform Navi Mumbai into a preferred destination for IT Companies.
The Company will implement all the modules of SAP along with SAP's real estate module. The implementation of the real-estate module of SAP is the first implementation of its kind for a Government Agency. Wipro will also implement a Geographical Information System (GIS) for CIDCO, which will help CIDCO and its customers view data on-line when it is working on its housing projects. Wipro will also be implementing the customer management, data warehousing and HR modules of SAP for CIDCO as part of the project.
Visistha Trades & Finance Board to consider acquisition of P I Drugs & Pharma
Visistha Trades & Finance Ltd has informed BSE that a meeting of the Board of Directors id scheduled on December 09, 2002 to consider amongst other things :
1. To discuss and if necessary adoption of Valuation Report submitted by the Chartered Accountant
2. To discuss about the feasibility of acquisition of acquisition of P I Drugs & Pharmaceuticals Ltd and manner of such acquisition.
FCGL Ind plans to enter digital communications & e-business related services
FCGL Industries Ltd is planning to enter the area of providing digital communications and e-business related services. The company's entertainment division has already developed a unique Corporate Game Show, the first of its kind in India which is expected to be telecast on prime television channels shortly.
The company is in the process of setting up overseas offices in US, Canada & Singapore. The mission of the company is 'Excellence in Entertainment & Edutainment by Energizing Contents & Enhancing Creativity.'
Apollo Hospital clarifies on News Item
With reference to a News Article published in a leading financial daily titled "Apollo Hospitals in tie up with Dubai group", Apollo Hospital Enterprise Ltd has informed BSE that the company has entered into a Hospital Management Agreement (HMA) with the Belhoul hospitals LLC, Dubai (Belhoul) for providing Hospital Management and Consultancy Services to the 60 bed Speciality Hospital which is being established by the Belhoul Group, Dubai.
The currency of the agreement is 5 years from October 29, 2001 with an option to renew for a further period on mutually agreed terms and conditions. As per the said agreement Belhoul is permitted to use the name "Apollo" as a prefix or suffix to the name of the Hospital during the currency of the agreement. Belhoul will pay only management / consultation fee of 5% of the annual turnover generated by Belhoul after commencing its operation at Dubai.
The company has further clarified that this is not a Joint Venture Agreement as appeared in the News Paper but only an agreement for Management of the Hospital named as Hospital Management Agreement (HMA) as detailed above.
Jindal Strips clarifies News Item
With reference to a News Item published in a leading financial daily titled "Jindal Group plans to sell US arm" Jindal Strips Ltd has informed BSE that the management is thinking the proposal for sale of Massillon Stainless, but the same is yet to be reviewed by the Board of Directors. The company has further informed that none of its employees / directors have given the above-cited news to the Newspaper Correspondent.
Hindalco clarifies on News Item
With reference to a News Item published in a leading financial daily regarding bid for NALCO, Hindalco Industries Ltd has informed BSE that it has submitted its Expression of Interest to the Government of India (GOI) to Bid for NALCO. Further the Board of Directors of the Company has not discussed any other proposition as reported in the Newspaper and it is unable to comment further at this stage.
Kirloskar Oil Engines Board approves Scheme of Amalgamation
Kirloskar Oil Engines Ltd has informed BSE that the Board of Directors at its meeting held on December 03, 2002 has approved the Scheme of Amalgamation of Kirloskar Power Supply Company Ltd with the Company with effect from April 01, 2003 subject to approvals from Shareholders and High Court at Mumbai.
The Board of Directors has also approved swap ratio. As per the swap ratio, the Shareholders of Kirloskar Power Supply Company Ltd will get 1 Equity Share of Rs 10 each fully paid of Kirloskar Oil Engines Ltd for every 61 Equity Shares of Rs 10 each fully paid held by them in Kirloskar Power Supply Company.
Dipak Himatsingka resigns as CMD of Amines & Plasticizers
Amines & Plasticizers Ltd has informed BSE that Mr Dipak Himatsingka has resigned as the Chairman and Managing Director of the company and his resignation has been accepted by the Board of Directors effective November 28, 2002. Development Bank of India (IDBI) at par. This is subject to the necessary approval of the Reserve Bank of India (RBI) and receipt of money from IDBI.
Balwas e-com forfeits all partly paid up Shares
Balwas e-com India Ltd has informed BSE that they had served three notices to all the Shareholders who have not paid full amount on their Shares. The Board has decided to forfeit all the said partly paid up Shares, which won't be carrying any voting rights till re-issued.
e. Star Infotech members approves 1:5 Bonus Issue
e. Star Infotech Ltd has informed BSE that at the Annual General Meeting of the company held on November 29, 2002, the Shareholders of the company have passed an unanimous resolution for increase in authorized capital from 110 million to 125 million by creation of an additional 7.50 million equity shares of Rs 2 each and consequently changes in Memorandum of Association.
The members of the company have also approved issue of Bonus Shares in the ratio of one Equity Share for every five Shares held as on the record date which will be fixed by the Board of Directors separately.
Global Infrastructure & Technologies members approve allotment of Shares to FD Holders in lieu of repayment
Global Infrastructure & Technologies Ltd has informed BSE that at the Extraordinary General Meeting of the Shareholders of the Company held on November 28, 2002, the shareholders of the company have approved the issue and allotment of not more than 1,68,500 Equity shares of Rs 10 each at par aggregating to Rs 16,85,000 to those of the Fixed Deposit holders of the company who have consented to accept the allotment of shares in lieu of repayment of their dues of Fixed Deposit amount kept with the Company.
ICRA assigns A1+ rating for Ramco Systems Commercial Paper
Ramco Systems Ltd has informed BSE that ICRA Ltd (Credit Rating Agency) has assigned the ratings for the following instruments:
1. Rating for Commercial Paper - A1 + Indicates Highest Safety
2. Rating for Short Term Debt Programme - A1 + (SO) Indicates Highest Safety.
Shriram Investments Board issues Equity Shares on Preferential Basis
Shriram Investments Ltd has informed BSE that the Board of Directors at its meeting held on November 28, 2002 has allotted 57,65,100 Equity Shares of Rs 10 each for cash at Rs 13.25 per Share (including a premium of Rs 3.25 per Share) to Citicorp Finance (India) Ltd on Preferential Basis.
Further the Board of Directors declared an Interim Dividend of 10% on the Equity Shares for the year 2002-2003. The Directors have confirmed December 21, 2002 as the Record Date.
Alembic eyes rural markets with Althrocin
Alembic Ltd has informed BSE that it is launching a massive nation-wide campaign to get wider reach in the rural market for its brand Althrocin, the largest antibiotic brand in the country.
The campaign, which has been named 'HOT WHEELS', will be kicked off in the first week of December. By focussing on doctors in the interior areas, the company wants to get penetration in the rural market. Besides the company feels the campaign will give attention to doctors in rural areas, which have been more or less neglected in the past.
During the 100-day campaign the company will put up around 250 shows in different parts of the country, covering some 4000 doctors. Besides, northern states, the campaign will cover Madhya Pradesh, Maharashtra, Andra Pradesh, West Bengal, Tamilnadu and Gujarat.
Praj Industries Board approves merger of Praj Engg with the Company
Praj Industries Ltd has informed BSE that the Board of Directors at its meeting held on November 30, 2002 and adjourned to December 02, 2002 has approved the proposal of merger of Praj Engineering Ltd with the Company. The appointed date is April 01, 2002 and exchange ratio is 62 Equity Shares of Rs 10 each of Praj Industries Ltd for 10 Equity Shares of Rs 10 each of Praj Engineering Ltd.
Compudyne Winfosys to give graphic effects to Tamil Movie BOYS
Compudyne Winfosystems Ltd has informed BSE that it has signed a Memorandum of Understanding with Chennai based film production house - Sri Surya Movies, in Director Din Shankar's new Movie "BOYS" for visual effects.
L&T denies News Item
With reference to a News Article published in a leading financial daily captioned "L&T may look for MNC 'white knight' to counter Birlas' bid", Larsen & Toubro Ltd has informed BSE that the Company is not looking for any White Knight and further states that no White Knight is in touch with L&T Management to evaluate the pros and cons for making any bid for the Company.
The Company strongly denies the news report and terms it to be wrong and misleading.
Marico Industries members approve Reorganisation of reserves and amendment of MOA & AOA
Marico Industries Ltd has informed BSE that the members of the Company at the Extraordinary General Meeting held today (on December 03, 2002) took on record the results of the Postal Ballot conducted by the Company.
The resolutions on the following items were declared carried with the requisite majority :
1. Amendments to objects clause of Memorandum of Association
2. Amendments to Articles of Association.
3. Reorganisation of Reserves for adjusting written down value of intangible assets.
