Syndicate Bank fixes Record Date for election of shareholder directors
Syndicate Bank has informed BSE that the Bank proposes to elect four Directors from amongst the Shareholders other than Central Government since the term of existing four Shareholder Directors of the bank expires on February 23, 2003.
To ascertain the Shareholders eligible to elect Shareholder Directors at the Extraordinary General Meeting of the Shareholders of the Bank it has proposed to fix record date on January 17, 2003.
Opto Circuits India fixes record date for allotment of bonus shares
Opto Circuits India Ltd has informed BSE that it has fixed January 14, 2003 as Record Date for allotting Bonus Shares to the Equity Shareholders.
Polaris Software Lab to seek Members' approval for the Scheme of Amalgamation
Polaris Software Lab Ltd has informed BSE that its has convened two separate Extraordinary General Meetings on December 30, 2002. The first meeting is a court-convened meeting for approval of the Scheme of Amalgamation between M/s Orbitech Solutions Ltd and the Company. The second meeting is for the increase in Share Capital, alteration of the capital clause of the Memorandum and Articles of Association etc.
Satyam Computers to replace its Nominee Directors on SIFY Board
Satyam Computers Services Ltd (Satyam) on Monday announced, that on receipt of incoming investments into Satyam Infoway (SIFY) from an arm of Soft Bank Asia Infrastructure Fund (SAIF) and Venture Tech, its current nominees on SIFY's Board of Directors, Ramalinga Raju and Srini Raju will be replaced by V Srinivas, CFO of Satyam and K Thiagarajan, Director and Sr Vice President - Corp Strategy of Satyam.
The reconstitution of SIFY Board is consequent to the dilution of stake of existing shareholders through fresh investment of USD 20 million by an arm of SAIF and Venture Tech as already announced earlier. The above changes relating to Satyam nominees were approved by the Board of Directors of SIFY on Monday and will take effect on receipt of the investments from the new investors.
Kovalam Inv & Trading Co to seek members' approval for undertaking new business
Kovalam Investment & Trading Company Ltd has informed BSE that an Extraordinary General Meeting of the Shareholders of the Company is scheduled on December 30, 2002 to undertake new business of Finance Brokers of Insurance/ Insurance Brokers
Digital Globalsoft Board to discuss in general the Business of the company
Digital Globalsoft Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 11, 2002 to discuss in general the business of the Company which inter alia include receiving update from the Committee of the Independent Directors formed by the Board on October 28, 2002 for a possible reorganisation of the business of the company.
VMC software directors resign
VMC Software Ltd has informed BSE that the following Directors have resigned from the Board with effect from October 30, 2002:
1. Raja Roy Chaudhary- Managing Director
2. Shailendra Parik- Director
Oriental Hotels to seek members' approval for Scheme of Amalgamation
Oriental Hotels Ltd has informed BSE that the court convened extraordinary general meeting of the company to be held on December 26, 2002 to approve, with or without modification, the scheme of amalgamation of Orients Holdings Ltd and Fishcove Leasing and Investments Ltd with the company.
Vorin Laboratories Members approve Scheme of Amalgamation
Vorin Laboratories Ltd has informed BSE that at the Court Convened EGM of the company, the shareholders of the company have approved the Scheme of amalgamation of the company and Medicorp Technologies India Ltd with Matrix Laboratories Ltd.
United Phosphorus acquires shares of Kaw Valley, USA and Midland Fumigant, USA
United Phosphorus Ltd has informed BSE that in terms of the court order of the Country Court of Kansas, USA, it has acquired 500 shares of M/s Kaw Valley, USA representing 50% of total holding and 250 shares of M/s Midland Fumigant Inc, USA representing 25% of total holding.
These shares have come as a part settlement of the company's claim amount due from M/s Donfox USA against whom the company has filed legal proceedings.
R Laxminarayan resigns as Director from the Board of Priya Ltd
Priya Limited has informed BSE that R Laxminarayan has resigned as Director of the company with effect from close of business hours of November 30, 2002.
RBI allows PNB to divest its stake in PNB Gilts
PNB Gilts Ltd has informed BSE that Punjab National Bank has sought permission from Reserve Bank of India for reducing PNB's stake below 51% in the company.
Further, the company has been informed by the RBI that Ministry of Finance, Government of India, through its notification dated November 14, 2002 has granted exemption to Punjab National Bank from the provisions of section 19(2) of the banking Regulation Act 1949 and consequently the Reserve Bank has no objection to Punjab National Bank divesting its holding in the company from the present level of 74% to 49% and further to 30% over the next three years from the date of notification.
Kesoram Ind Board approves Buyback of shares
Kesoram Industries Ltd has informed BSE that the Board of Directors at its meeting held on Monday has decided to buy back ordinary shares of the Company through market operations subject to necessary approvals and sanctions of the SEBI, Term Lenders, Bankers and other appropriate authorities. The terms as decided by the Board are as follows:
1. No.of shares not to exceed: 46,25,000 shares
2. Price not exceeding: Rs 40 per share
3. (a) Purchase consideration @ max. Rs 40 per share: Rs 185 million (approx.)
(b) The buy back of shares shall not exceed Rs 69.819 million upto March 31, 2003 so that the buy back in the current financial year does not exceed 25% of the paid up equity capital of the Company as on March 31, 2002.
4. Period: From Board meeting date to December 08, 2003.
Medicorp Technologies Members approve Scheme of Amalgamation
Medicorp Technologies India Ltd has informed BSE that at the Court Convened Extraordinary General Meeting of the company held on November 25, 2002, the Shareholders of the company have approved the Scheme of Amalgamation of Medicorp Technologies India Ltd and Vorin Laboratories India Ltd with Matrix Laboratories Ltd.
ICICI Bank takes over possession of movables of Mardia Chemicals Vatva Unit
Mardia Chemicals Ltd has informed BSE that the ICICI Bank has taken over the possession of movables of the Unit of the company situated at Ahmedabad on November 29, 2002 in pursuant to the notice issued by it under section 13(2) of the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance, 2002.
Software and R&D Division of D-link India Develops Low cost IP Phones/Modem based IP Phones
D-link India Ltd has announced that it has been working on developing equipment and solutions for the emerging VOIP market. The emphasis has been on innovations especially to suit the Indian market and low cost. The software and R&D program, which was launched, nearly a year ago has come up with a comprehensive suite of products. The suite of products includes low cost IP Phones, Modem IP Phones, Terminal adaptors, Gateways and Gatekeepers/Servers. All these have developed in both H.323 and SIP standards as both of these protocols have been adapted by TRAI for the VOIP services in India.
DPH-80, the Low cost IP Phone has the look of the familiar P&T telephone and is ideal for offices, which already have an Ethernet LAN.
DPH - 70 is a low cost Modem IP Phone suitable for homes and offices, which don't have a LAN but have a need to make long distance STD/ISD calls.
DG-101 is a terminal adaptor, which plugs into the Ethernet at one end and the normal telephone instrument at the other end.
Girish Kumar Innani appointed as CS of LKP Merchant Financing
LKP Merchant Financing Ltd has informed BSE that Girish Kumar B Innani is appointed as a Company Secretary of the company with effect from November 20, 2002.
High Court approves amalgamation of Jaldi E Commerce with KLG Systel
KLG Systel Ltd has informed BSE that the Punjab and Haryana High Court has approved the amalgamation of Jaldi E Commerce Ltd, a wholly owned subsidiary of the company, with the company vide an order dated July 11, 2002.
R Barwale revises the dates of Open Offer to the Shareholders of John Fowler India
UTI Bank Ltd has informed BSE that with reference to the open offer by Shri R B Barwale (Acquirer) to the Shareholders of John Fowler (India) Ltd, the revised schedule of the offer is as follows:
Date of Opening of the offer is December 23, 2002
Date of Closure of the offer is January 21, 2003.
Godrej Consumer Products seeks Members approval for Buyback of shares
Godrej Consumer Products Ltd has informed BSE that the company has sort approval of the Shareholders for Buyback of Equity Shares through the Open Market subject to a maximum price of Rs 175 per Share and a maximum outlay of Buyback of Rs 100 million. The said approval is sought in the form of resolution by Postal Ballot.
Eldeco Housing & Ind Members approve dividend of 10% for FY-02
Eldeco Housing & Industries Ltd has informed BSE that the Shareholders of the Company, at the Annual General Meeting held on November 30, 2002, have approved 10% Dividend for the financial year ended March 31, 2002.
Ecoboard Industries members approve delisting of its shares from ASE
Ecoboard Industries Ltd has informed BSE that the shareholders of the company, at the Annual General Meeting held on September 25, 2002, have approved to delist the shares of the company from Ahmedabad Stock Exchange (ASE).
Illegal strike at Cable Corporation's Borivli Unit
Cable Corporation of India Ltd has informed BSE that the manufacturing activity of the Company's Borivli Unit has been affected due to illegal strike by the workers since, November 30, 2002.
Blue Dart Express ties up with South African Airways
Blue Dart Express Ltd has informed BSE that it has entered into an interline agreement with South African Airways with effect from November 26, 2002. As per the agreement, South African Airways, which operates from Mumbai, with marketing access to all the other metros in India. The alliance will facilitate movement of South African Airways shipments to and from these locations through the company's infrastructure of bonded warehouses and freighters. This is the 20th interline agreement for the company.
Indian Overseas Bank Members elect 4 Directors
Indian Overseas Bank has informed BSE that based on number of votes secured by the candidates at the Extra Ordinary General Meeting held on December 07, 2002, the following 4 condidates were declared elected as Directors of the Bank representing shareholders other than the Central Government.
1. Mr M N Venkatesan
2. Mr Christopher Thomas Kurien
3. Dr Harsh Mahajan
4. Mr S K Seghal
The above Directors have assumed their office with effect from December 08, 2002 and will hold office till December 07, 2005.
GDR Media to mull pre issue
GDR Media Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 16, 2002 to consider, inter alia, issuing Equity Shared of the Company on Preferential basis.
Bharti Tele-ventures to merge its fixed line, long distance, broadband and V-SAT businesses
Bharti Tele-ventures Ltd has informed BSE that as a part of its consolidation exercise and to attain business synergies, it has decided to merge its Fixed Line, Long Distance, Broadband and VSAT business being undertaken through its subsidiaries as under:
Business Name of Subsidiary 1. Basic Fixed Line Operations : Bharti Telenet Ltd (BTNL)
2. International and National Long : Bharti Telesonic Ltd (BTSOL) Distance Services
3. Broadband and VSAT operations : Bharti Boardband Networks Ltd (BBNL)
The aforesaid businesses after merger would be rechristened into the company named "Bharti Infotel Ltd".
Hindalco Industries Ltd has informed BSE that on the night of December 03, 2002 a group of unidentified armed persons entered into the Company's Gurdari bauxite mines premises in Jharkhand and burnt a fleet of mining equipment.
The Company has taken up the matter with the Administration at different levels to beef up the security in all its mines. In the meantime, Gurdari mines operations have been temporarily suspended.
Gurdari mines supplies around 10% of the Company's monthly requirement of bauxite.
Temporary closure of Gurdari mines will not impact its Alumina refinery operations as the Company has sufficient inventory of bauxite and operations at other mines at Jharkhand are normal from where it will be able to step up its supplies.
BSE revises special margin on 41 scrips
BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from today (December 9, 2002).
The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last trading day.
Members are hereby informed that special margins will be imposed on the basis of memberwise gross purchase or sales position (clientwise net) as indicated below:
Code Name Group Per Share(Purchase)(%) Per Share(Sale)(%) 532311 AMEX INFORMATIO B2 25
531823 ARVIND REMEDY B1 25
532113 BRIJLAXMI LE B2 25
508814 COSMO FILMS B2 25
512093 CRANES SOFTWARE B2 50
532329 DANLAW TECH B2 25
532099 DATABASE FIN B2 25
505200 EICHER MOTOR B1 25
500128 ELECTROSTEEL CA B1 25
530835 ELTROL LTD B2 25
506156 ETC NETWORKS B2 25
532084 FAST TRACK FIN B2 25
511744 FCGL INDUSTRIES B2 25
532081 GARNET PAPER B2 25
506109 GENESYS INTER B1 25
503699 GEODESIC INF B2 25
507732 GODAVARI FERT B2 25
524652 IND SWIFT B1 25
500207 INDO RAMA SYN B1 25
532010 INDOTECH CAPITA B2 25
500213 INTER TRAVEL B1 25
531816 IT MICROSYSTEM B2 25
532256 JINDAL STRIPS B1 25
532283 KASHYAP RADIANT B2 25
531692 KHYATI MULTI B2 25
500241 KIRLOSKAR BROS B1 25
532275 LANDMARC LEI B1 25
500265 MAHARASHTA SEAM B1 50
524794 MATRIX LABOR B2 50
512267 MEDIA MATRIX B2 25 25
524101 NALCO CHEMICAL B1 25
532114 PAN PACKAGING B2 25
522205 PRAJ INDUSTRIES B2 25
531611 PRRANETA INDS B2 50
532055 RASHEL AGROTECH B2 25
513583 S B & T B1 25
512028 SHONKH TECH B2 25
523083 SOMPLET B2 25
532468 SRF POLYMERS B2 25
531554 TOP TELEMEDIA B2 25
524802 VERONICA LABS B2 25
HFCLs' FCCB issue closes on Dec 5 at London
Himachal Futuristic Communications Ltd has informed BSE that the Company's FCCB issue has been closed on December 05, 2002 at London at 10.00 pm (IST).
The Company has received subscription for 660 bonds (330 A Bonds of USD 50,000 each fully paid and 330 B Bonds of USD 50, 000 each with 10% paid up value). The allotment of bonds has since been made.
The Company had earlier informed that its issue of Foreign Currency Convertible Bonds upto USD 50 million consisting of 500 Unsecured Foreign Currency Convertible Bonds of USD 1,00,000 each (in two parts - part A and part B of USD 50,000 each) was opened at London on November 29, 2002 at 9.15 PM (IST).
Infosys announces sponsorship of ADS
The board of directors of Infosys Technologies Ltd., on December 08, 2002 announced the sponsorship of an international ADS offering, against equity shares held by its existing shareholders in India, at a price to be determined by the Lead Manager to the offering.
The Board also decided that the offering size would be between 2 million equity shares to 3 million equity shares (i.e. 4 million ADSs to 6 million ADSs).
The company will convene an Extraordinary General Meeting (EGM) of its members in due course to seek approval for the proposed offering.
All shareholders as on record date (to be intimated later) would be eligible to tender their shares in the offering on a pari-passu basis. Infosys will not be offering any new shares in the offering.
The proceeds of the secondary offering, after meeting the issue expenses, will be proportionately paid to the shareholders of Infosys, who have deposited their equity shares, for the purposes of the offering.
Infosys' announcement of the sponsorship of an ADSs offering, is pursuant to the notification of the Reserve Bank of India viz., Notification No. FEMA, 41/2001-RB dated March 02, 2001 and the operating guidelines issued as per circular A.P. (DIR Series) Circular No. 52 dated November 23, 2002.
The offering is also subject to various guidelines issued by the Ministry of Finance, Government of India.
This does not constitute an offer of any securities for sale by Infosys.
A registration statement relating to these securities has not yet been filed with the United States Securities & Exchange Commission. Pursuant to U.S. rules and regulations, no securities may be sold nor may offers to buy be accepted prior to the time a registration statement becomes effective.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy registered securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
M Srinivasan appointed director on BPCL board
Bharat Petroleum Corporation Ltd has informed BSE that M S Srinivasan, Additional Secretary, Ministry of Petroleum & Natural Gas, has been appointed as Director on the Board of Bharat Petroleum Corporation Ltd effective December 03, 2002.
Infosys strengthens operations in France
Infosys Technologies Ltd on December 04, 2002 announced that it has increased its French - speaking workforce by over 100% in the last two trimestres.
The Company, which recently announced a global increase in turnover of 32.1 per cent during the second quarter ended September 30, 2002 compared to the same quarter in 2001, also strengthened its position in France during the last eight months by adding Schneider Electric, Alstom and EJC to its client list. Since establishing commercial presence in France in 1999, Infosys' French client list has grown to include companies, such as Toshiba Systemes France, Schlumberger and Cardif.
Infosys also announced during October that it is to invest $25 million in setting up a disaster recovery centre in French - speaking Mauritius. The centre, capable of accommodating 1500 people, can back up client data and will be on stand by to take over clients projects from France and the rest of the world in case of any emergency.
