Belenje Investments & Trading Co Ltd has informed BSE that the Board of Directors at its meeting held on Monday allotted 14,00,000 Equity Shares of the face value of Rs 10 each at a price of Rs 20 per share to Turbotech Precision Engineering Pvt Ltd in terms of authority given to the Board of Directors by the members at the Annual General Meeting held on September 23, 2002.
Polaris Software Lab CMD & CEO detained in Jakarta- Indonesia
Polaris Software Laboratories Ltd has informed BSE that the Chairman and Managing Director (CMD) & CEO of the Company Arun Jain has been held against his will by the Indonesian Police in Jakarta, Indonesia.
Arun Jain had traveled to Jakarta with his team of senior executives in charge of a software development project for Bank Artha Graha to resolve some commercial issues. Polaris Software had signed agreements with Bank Artha Graha in June 2002 and August 2002 covering Central Processing, Disaster Recovery and Branch Server related work. The contract was supposed to be completed by July 2003.
Bank Artha Graha served notice of termination on Polaris Software on November 27, 2002. Polaris responded on December 03, 2002 stating that the grounds for termination were incorrect and offered to resolve the issue through discussion.
However on their arrival in the office of Bank Artha Graha on December 13, 2002, they were detained against their wishes and were not allowed to leave the premises. In the evening, Bank Artha Graha filed a report with the Police Station at Jalan Truno Joyo Tiga 3 of Jakarta and on that basis the Indonesian Police detained them.
Their detention continues and the company is making vigorous attempts to secure their release through the Ministry of External Affairs, Ministry of Information Technology, NASSCOM and Indian Embassy in Jakarta.
Phoenix Lamps Board approves scheme of arrangement
The board of directors of Phoenix Lamps India Ltd at its meeting held on Monday approved filing of scheme of arrangement with Allahabad High Court for reduction of equity share capital of Rs 18.80 million and credits of Rs 77.50 million from its books of account against a claim of the company for supply of defective plant & machinery.
HCL Infosys Board to consider restructuring of business
HCL Infosystems Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 18, 2002 to consider, inter alia, various proposals including restructuring of business.
Pentasoft Tech to seek members' approval for Preferential Allotment
Pentasoft Technologies Ltd has informed BSE that the Board of Directors at its meeting held on Monday has decided to convene an Extra-ordinary General Meeting on January 10, 2003, to seek the approval of the shareholders in respect of the following:
1. To issue 2,50,00,000 Equity Shares on Preferential Allotment basis to promoters and strategic investors for cash as per SEBI guidelines.
2. To issue shares by way of public/right/ADR/GDR/FCCB
3. To increase the Authorised Capital of the company from Rs 1000 million to Rs 2000 million and to amend the Capital Clause of the Memorandum of Association and the Articles of Association.
Zensar Tech to invest in Suntech Data Systems
The Board of Directors of Zensar Technologies Ltd at its meeting held on Monday decided to invest in the equity share capital of Suntech Data Systems Private Ltd, a Bangalore based company engaged in outsourcing services relating to Contact Center Management, Business Process Outsourcing & IT Infrastructure Management.
As a consequence of the proposed investment, the company will hold 50% of the equity share capital of Suntech Data Systems Private Ltd.
Samtel India Board to evaluate Monitor business of Multimedia Division
Samtel India Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 20, 2002 to evaluate and consider various options in view of continuing losses in Monitor business of Multimedia Division of the Company.
Kay Pulp & Paper Mills members approve reference to BIFR pursuant to 100 % erosion of Net Worth of the Company
Kay Pulp & Paper Mills Ltd has informed BSE that the Shareholders of the Company at the Annual General Meeting held on December 14, 2002 resolved for reference to the Board for Industrial and Financial Reconstruction (BIFR) under the Sick Industrial Companies (Special Provosions) Act, 1985 pursuant to 100 % erosion of Net Worth of the Company on June 30, 2002.
Nicholas Piramal to seek shareholders approval for scheme of amalgamation
Nicholas Piramal India Ltd has informed BSE that pursuant to the requisite application made by the company, the Honble Bombay High Court has vide its order dated December 5, 2002 directed a meeting of the equity shareholders of the company (Court Convened Meeting) be convened on January 13, 2003 to seek approval of the shareholders to the scheme of amalgamation between Global Bulk Drugs and Fine Chemicals Private Ltd and the company.
Compudyne Winfosys Board to consider Rights Issue
Compudyne Winfosystems Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 23, 2002 to discuss and decide Right issue of shares. The Board of Directors at the said meeting will also discuss placement of Share Warrants and Preferential Allotment.
Ranbaxy to receive royalty on sales of Cipro XR 500 mg from Bayer
Ranbaxy Laboratories Ltd has announced on Monday that the US Food and Drug Administration (FDA) has approved Bayer's antibiotic product Cipro XR (Ciprofloxacin extended Release Tablets). This new formulation given once a day over three days is designed to treat uncomplicated Urinary Tract Infections (UTIs). Cipro XR will be marketed in a dosage strength of 500 mg and Bayer will begin shipping the products to US pharmacies on January 02, 2003.
Ranbaxy would receive royalty on sales of Cipro XR 500 mg tablets.
Bayer submitted an application to the FDA in October 2002 to market Cipro XR tablets in a 1000 mg dosage strength for once a day therapy of complicated urinary tract infections.
HCL Tech to consider restructuring of business
A meeting of the Board of Directors of HCL Technologies Ltd is scheduled to be held on December 18, 2002 to consider inter-alia various proposals including restructuring of business.
Haigreve Khaitan resigns from the Board of Kilburn Chemicals
Kilburn Chemicals Ltd has informed BSE that one of its Directors Shri Haigreve Khaitan resigned with effect from November 28, 2002 due to personal reasons.
GDR Media- issue of equity shares on preferential basis
The Board of Directors of GDR Media Ltd at its meeting held on Monday deliberated the subject matter of issue of equity shares on preferential basis. After due discussion it was decided to have a Board Meeting on December 23, 2002 to take a decision on the subject.
Shipping Corporation strike deferred
Shipping Corporation of India Ltd has informed BSE that the proposed strike on December 16, 2002 by the Unions (who are constituents of SAVE SCI FORUM) has been deferred.
Union Bank denies News Item
With reference to a News Item published in a leading financial daily regarding Union Bank's plans to acquire another bank, Union Bank of India has informed BSE that it has no plans at present to acquire any other bank. The bank has further informed that the report / speculation in the financial daily does not have its origin for the Bank.
Dynacons Systems & Solutions bags Goa Govt computerisation Order
Dynacons Systems & Solutions Ltd has informed BSE that it has obtained the order for computerisation of the Revenue Department of Goa Government, involving supply of High End Servers, Desktops, Software, Networking and Systems Integration. The company will be responsible for the installation, implementation, support and maintenance of the entire Revenue Department e-governance system for next 3 years. The total value of the order is Rs 24.39 million.
Tata Coffee to subscribe to rights issue of Barista Coffee
Tata Coffee Ltd has informed BSE that the Board of Directors at its meeting held on Monday has decided to subscribe to 4,56,140 equity shares of Rs 10 each at a premium of Rs 50 per share offered by way of rights issue by Barista Coffee Company Ltd.
Pritish Nandy Communications- Kaante to hit cinema halls on December 20, 2002
Pritish Nandy Communications Ltd has announced on Monday the confirmed all India release of its mega production Kaante.
Sesa Goa to seek members' approval for scheme of amalgamation
Sesa Goa Ltd has informed BSE that the High Court of Bombay has directed to seek shareholders' approval for the scheme of amalgamation of A Narrain Mines Ltd with the Company. Accordingly the Extraordinary General Meeting of the Shareholders of the Company is scheduled on January 15, 2003 for the above purpose.
i-Flex's preliminary meeting with Arbitrator on December 18, 2002
i-Flex Solutions Ltd has informed BSE that Saraswat Co-operative Bank Ltd has served through its legal counsel a notice to the company on June 15, 2002 seeking to terminate the license agreement.
In this connection the preliminary meeting with the Arbitrator, suggested by the company and accepted by SACO is going to take place on December 18, 2002.
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 16, 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 Sp.Mrg (Purchase)(%) Sp.Mrg (Sale)(%) 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
500223 JCT B1 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 25
513583 S B & T B1 25
512028 SHONKH TECH B2 25
532468 SRF POLYMERS B2 25
531554 TOP TELEMEDIA B2 25
530769 VEL SOFTWARE B2 25
524802 VERONICA LABS B2 25
Bank of Punjab denies news item
With reference to a News Item published in a leading financial daily titled 'Vysya Bank seen in merger talks with Bank of Punjab,' Bank of Punjab has informed BSE that the news item of merger of the Bank is without any foundation.
Bank of Punjab has been talking to Vysya bank for furthering normal banking business between the two banks including ATM sharing and Cash Management Services.
Vysya Bank denies news item
With reference to a News Item published in a leading financial daily titled "Vysya Bank seen in merger talks with Bank of Punjab", Vysya Bank Ltd has informed BSE that there are no talks for merger with Bank of Punjab.
Vysya Bank has been has been talking to Bank of Punjab for ATM sharing and is also looking at other ways in increase business with them including cash management services.
Vaibhav Gems allots Bonus Shares
The Board of Directors of Vaibhav Gems Ltd at their meting held on December 14, 2002 has made an allotment of 52,80,300 fully paid up equity shares of Rs 10 each as Bonus Shares.
IDBI nominates R K Ralhan on the Board of Linaks Microelectronics
Linaks Microelectronics Ltd has informed BSE that Shri R K Ralhan has been nominated by IDBI as a Director on the Board of Directors with effect from September 13, 2002. Further Shri R S Shukla ceased to be Director of the Company pursuant to nomination withdrawn by IDBI with effect from September 13, 2002.
Agro Dutch Industries announces change in Management Structure
Agro Dutch Industries Ltd has informed BSE that Mr C Parthasarathy and Mr Dilsher Bhinder have resigned from the Board of Directors of the Company.
Further, Mr Arvind Kalra has joined the Board of Directors of the Company as outside Professional Director.
Zicom bags a prestigious order from Bureau of Civil Aviation Security
Zicom Electronic Security Systems Ltd has informed BSE that it has bagged a prestigious order worth Rs 17.50 million from Bureau of Civil Aviation Security (BCAS) for supply of Integrated Computerised Photo Identity Card Issue system. As per the contract 1,80,000 cards will be printed for issuing at 4 international airports - Mumbai, Delhi, Chennai and Kolkata.
Abee Info Consumables launches its operations in Gulf with Dia-An-EasyFill
Abee Info Consumables Ltd announced the launch of Dial-An-Easyfill 6064304 (Jeddah, Saudi Arabia) a concept that is set to revolutionise trends in the IT industry in an exclusive tie up with a Saudi-Arabian firm 'Wezam Ghazi Zain Awadallah recently 'Sheik Wezam Al-Madani is responsible for marketing Dial-AnEasyFill service in the entire Gulf region as per the agreement between Abee Info-Consumables Ltd., Pune and Wezam Ghazi Zain Awadallah, Jeddah, Saudi Arabia.
Dial-An-EasyFill - 6064304, is in all probability the second service of its kind, globally, after India, whereby customers / users can avail of a refill facility at their doorstep just at the dial of a number. This unique service offers users cash savings as high as 80% on a single refill as compared to the exorbitantly priced OEM cartridges and at the same international quality. The refill options is that the refill will Dial-An-EasyFill - 6064304, the process of refilling takes place at the user installation in his / her presence. There is no need to take the cartridge out of the user's site.
J&P Coats along with Coats plc makes Final Offer to acquire balance public shareholding in Madura Coats
DSP Merrill Lynch Ltd has informed BSE that J & P Coats Ltd, Scotland (JPC) with Coats Plc, Person Acting in Concert (Coats) had made an Open Offer (Letter of Offer dated September 17, 2002) to acquire upto 21,669,392 fully paid up Equity Shares of Rs 10 each representing 36.82 % of the Equity Capital of Madura Coats Ltd (MCL) at a price of Rs 40 per share. The said Open Offer resulted in the public Shareholding to less than 10 % of the voting capital.
JPC and Coats (Acquirer and PAC) are now making a Final Cash Offer to purchase the outstanding public shareholding of MCL comprising 4,131,027 shares (representing 7% of the equity share capital) at a price of Rs 40 payable in cash.
The Date of Opening of the Offer is December 16, 2002.
The Date of Closing of the Offer is December 30, 2002.
Further, for the Shareholders who due to certain reasons are not in position to accept the Final Offer, an exit facility at the Offer Price shall be provided by the acquirer for a period of six month from the Final Offer opening date i.e. till June 16, 2003.
Balkrishna Industries shuts down its paper plant for three weeks to carry out renovation
Balkrishna Industries Ltd has informed BSE that the Paper Plant of the company has been shut with effect from December 02, 2002 for a period of three weeks to carry out certain modifications, renovation & capacity expansion.
Info-Drive Software plans to launch CD-ROM on Bharata Natyam
Info-Drive Software Ltd has informed BSE that they have planned to launch the World's first CD-ROM on Indian dance: Bharata Natyam, on the net.
Jain Irrigation Systems signs transaction agreement with GE Plastics India
Jain Irrigation Systems Ltd has informed BSE that it has signed the Definitive Transaction Agreement for sale of 2 Polycarbonate Equipments and other assets to GE Plastics India Ltd (GEPIL).
Under a separate arrangement the company has sought to lease similar equipment in for use in 100% EOU for domestic & exports sales of Polycarbonate sheets. Hence the turnover is unlikely to be affected by the sale of equipment and other assets.
The company has further informed that the Transaction Agreement is subject to certain conditions precedent and it is making efforts to achieve closing in the next couple of weeks.
Operations suspended at Kanjur-Mumbai Plant of Jolly Board
Jolly Board Ltd has informed BSE that due to labour dispute on Bonus, the manufacture of Hardboard at Kanjur Plant, Mumbai (which accounts for 30%) has been suspended with immediate effect. However manufacture of Softboards is being continued.
Mangalam Cement denies News Item
With reference to a News Item published in a leading financial daily stating multinational Lafarge and Italcementi are in talks to acquire Mangalam Cement Ltd, the company has clarified that the news item is not correct and is misleading.
SREI International Finance promotes a Wholly Owned Subsidiary
SREI International Finance Ltd has informed BSE that it has promoted a wholly owned subsidiary Company "SREI Money Mall Ltd" with a paid up capital of Rs 0.5 million to, inter alia, act as distributors or agents of financial and non financial products and services.
Soffia Software Board approves in principle merger of TranSys Technologies with the Company
Soffia Software Ltd has informed BSE that the Board of Directors at its meeting held on December 13, 2002 has approved in principle the proposal to merge TranSys Technologies Pvt Ltd with the Company subject to complying with various formalities including approval of the Board of Directors of TranSys Technologies Pvt Ltd and the determination of the exchange ratio for shares and all statutory approvals to be obtained.
