Geometric Software Solutions makes further investment in Oncourse Technology Inc

Geometric Software Solutions Co Ltd has informed BSE that it has made further investment of USD 77,000 in convertible preferred stock of OnCourse Technology Inc as per commitments made at the time of previous investment of USD 1,92,000.

Cosmo Films Board to consider Bonus Issue

Cosmo Films Ltd has informed BSE that a meeting of the board of directors is scheduled on January 14, 2003 to consider issue of bonus shares.

Kishore Khandavalli resigns as Director from the Board of Goldstone Tech

Goldstone Technologies Ltd has informed BSE that Mr Kishore V Khandavalli has resigned from the office with effect from December 27, 2002.

HDFC allots bonus shares

Housing Development Finance Corporation Ltd has informed BSE that at the meeting of the allotment committee of Directors held on Monday, the corporation has allotted 12,19,60,713 Equity Shares of Rs 10 each as bonus shares. The post-allotment Issued and paid-up equity capital is Rs 2,43,92,14,260.

Gestetner to take necessary steps for restructuring

The Board of Directors of Gestetner India Ltd at its meeting held on December 30, 2002 resolved, to approve and accord their permission to the Managing Director of the company, to take all such steps as may be necessary for restructuring, including closure of manufacturing operations at Nasik, to achieve an improvement in the operational efficiency of the company.

INDAL defers de-energisation suspension of operations at its Alupuram, Kerala smelter

Indian Aluminium Company Ltd (INDAL) has informed BSE that pursuant to the Kerala State Government's request to enable them to review favorably the power tariff, the Company has decided to defer the de-energisation and suspension of operations by a month i.e. February 1, 2003. Earlier the company had informed that it hadinitiatedsteps towards de-energising and suspending the operations at its aluminium smelter in Alupuram, Kerala with effect from January 01, 2003.

Rajaram Gupta resigns as director from the board of Punctual Trading

Punctual Trading Ltd has informed BSE that Rajaram Gupta has resigned as director of the company with effect from December 27, 2002.

TCI Finance AGM adjourned

TCI Finance Ltd has informed BSE that the 28th Annual General Meeting of the Company held today (December 30, 2002) has been adjournment sine-die. The members have unanimously adjourned the meeting after approving all the items of the agenda except the Audited Annual Accounts for the year ended March 31, 2002, which could not be prepared and placed at the meeting as the Scheme of Amalgamation of (i) Giri Road Lines Pvt Ltd (ii) Shweta Developers Pvt Ltd (iii) Neera Finance & Investments Pvt Ltd (iv) KPM Investment & Finance Ltd (v) Grow Well Commercials & Trading Pvt Ltd (vi) TCI Securities Ltd wit the company is pending approval of the Hon'ble High Court of Andhra Pradesh.

Jindal Stripes Board approves appointment of E&Y to recommend and implement restructuring

Jindal Stripes Ltd has informed BSE that the Board of Directors at its meeting held on December 28, 2002 has approved the appointment of M/s Ernst & Young Pvt Ltd (E&Y) for recommending and implementing restructuring of the company which enables the management to: - Create a focused stainless steel company. - Create a Balanced Capital Structure to facilitate future growth in Stainless Steel Business. This will enable the management to deliver higher shareholder value to the Shareholders of the Company. The company has further informed that the management is confident of improving the results in the second half of the current year and it is also confident of achieving steady earnings growth as the prices are likely to remain steady for the balance half of the current year.

Sanwaria Agro Oils launches new Brand

Sanwaria Agro Oils Ltd has informed BSE that it has Launched Edible Oil in the Consumer Pack after completing the successful expansion / forward integration by putting up a state of art continuos refinery of 75 TPD Capacity. The company on December has launched its Soya refined oil under brand name "SULABH" in the consumer pack of 15 Kg for the first time in the market.

GVK America Inc to become a subsidiary of Novopan Industries

Novopan Industries Ltd has informed BSE that it has subscribed to the equity capital of M/s GVK America, Inc to the extent of 99% of the total paid up capital of that company. As such the said GVK America, Inc would thus become a subsidiary of the company.

Polaris Software Lab Board thanks Indian Government for its support

The Board of Polaris Software Lab Ltd met today (December 30, 2002) to take on record and review the future course of action on the unlawful detention of Arun Jain, Chairman & Managing Director and CEO and Rajiv Malhotra, Senior Vice President of Polaris Software in Indonesia. Through a resolution, the Board of Polaris also placed on record its gratitude to and acknowledge the support of the Government of India through its unprecedented diplomatic efforts led by Mr Yashwant Sinha, Minister of External Affairs and Mr Pramod Mahajan, Minister of Information Technology and their respective offices. The Board hopes that, going forward too, this support will be available. The Board also formally placed on record its thanks to the Indonesia Government and officials who facilitated the safe return of Mr Arun Jain and Mr Rajiv Malhotra to India. The Board also recommended the following actions: 1. Polaris to move the "Arbitration" proceedings against Bank Artha Graha in Singapore as specified by the contract for commercial disputes. 2. Polaris to move legally in Indonesian Courts to quash any criminal charges under the Indonesian law. 3. Polaris also to contemplate all the legal action(s) with respect to Bank Artha Graha case. The Board also today (December 30, 2002) appointed a Legal Committee to oversee the above actions of Polaris against Bank Artha Graha.

Waterbase to seek members' approval for Capital Restructuring

Waterbase Ltd has informed BSE that the Board of Directors at its meeting held on December 27, 2002 has approved the adjustment of the Carry Forward Losses and certain Current Assets against the balance in existing Share Premium Account of the Company subject to approval of the Shareholders at the Extraordinary General Meeting scheduled on January 25, 2003 and confirmation of the High Court.

Pioneer Distilleries to seek members' approval to consider erosion of more than 50% of the Net Worth

Pioneer Distilleries Ltd has informed BSE that in accordance with the provisions of Sick Industrial Companies (Special Provisions) Act, 1985, an Extraordinary General Meeting is scheduled on January 21, 2003 to consider erosion of more than 50% of the Net Worth of the Company as on September 30, 2002.

VisualSoft Tech clarifies BPO news item

With reference to a news item published in a leading financial daily regarding VisualSoft Technologies Ltd venturing into BPO business, the company has clarified that as a part of marketing exercise the company is in touch with various probable customers to look into the possibility of fetching some business. This is a routine exercise.

PNB Board approves in-principle follow up - Public Offering

Punjab National Bank has informed BSE that the Bank's Board, has accorded on December 28, 2002 its in-principle approval in respect of follow up - Public Offering. The Chairman & Managing Director, or, in his absence, the Executive Director have been authorised to consult Advisors in this behalf and revert to the Board with a detailed report for their further consideration.

Classic Diamonds India allots bonus shares

Classic Diamonds India Ltd has informed BSE that the Board of Directors, at its meeting held December 28, 2002, has allotted an aggregate of 35,00,000 new equity shares of Rs 10 each as fully paid shares as bonus to the all shareholders as on the record date (December 23, 2002).

BSE revises special margin on 37 scrips

BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from Monday. 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 member wise gross purchase or sales position (client wise net) as indicated below: Code----Name----Group-----Per Share(Purch.)(%)----Per Share(Sale)(%) 531823----ARVIND REMEDIES----B1-----25--------------------25 531541----- AVON ORGANIC----- B2----- 25 532113----- BRIJLAXMI LE----- B2----- 25 508814----- COSMO FILMS----- B2----- 25 512093----- CRANES SOFTWARE----- B2----- 50 532099----- DATABASE FIN----- B2----- 25 505200----- EICHER MOTOR----- B1----- 25 500128----- ELECTROSTEEL CA----- B1----- 25 506156----- ETC NETWORK----- B2----- 25--------------- 25 511744----- FCGL INDUSTRIES----- B2----- 25-------------------- 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--------------- 25 500207----- INDO RAMA SYN----- B1----- 25 532010----- INDOTECH CAPITAL----- B2----- 25 500213----- INTER TRAVEL----- B1----- 25 531816----- IT MICROSYSTEM----- B2 ----- 25 500223 ----- JCT----- B1------------------------- 50 532256 ----- JINDAL STRIPS----- B1----- 25 532283----- KASHYAP RADIANT ----- B2----- 25 531692----- KHYATI MULTI----- B2----- 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--------------- 25 532117----- PENTIUM INFOTEC----- B2----- 25 ----- 25 522205----- PRAJ INDUSTRIES----- B2----- 25 531611----- PRRANETA INDS----- B2----- 50 532055----- RASHEL AGRO ----- B2 ----- 25 --------------- 25 513583----- S B & T----- B1----- 25 512028----- SHONKH TECH----- B2----- 25 532468----- SRF POLYMERS----- B2----- 25 530769----- VEL SOFTWARE----- B2 --------------- 25 524802----- VERONICA LAB----- B2----- 50

Mascot Systems board approves acquisition of eJiva and Aqua Regia

Mascot Systems Ltd has informed BSE that the Board of Directors at its meeting held on December 28, 2002 has approved the acquisitions of the solutions business of eJiva for a cash consideration of approximately Rs 450 million (US$ 9.46 million) and Aqua Regia Technologies Private Ltd for a cash consideration of Rs 23.40 million (approximately US$ 0.50 million) the transactions are subject to regulatory approvals, if any, as applicable. The acquisition of the eJiva solutions business will be effective January 01, 2003. For eJiva, US$ 4.73 million will be paid upfront as down payment will the balance being paid in four equal quarterly installments over a twelve-month period. The Aqua Regia acquisition will be effective April 01, 2003. The entire cash consideration will be paid on that date. Aqua Regia currently has 150 technical employees located at its development center in Hyderabad, India.

Cummins India Board to consider declaration of interim dividend on January 07, 2003

A meeting of the Board of Directors of Cummins India Ltd will be held on January 07, 2003 to consider declaration of interim dividend for the financial year ending on March 31, 2003.