Matrix Lab Board to consider preferential issue of equity shares

Matrix Laboratories Ltd has informed BSE that the Board of Directors of the Company would be meeting on October 09, 2002 to consider amongst others, the preferential issue of equity shares.

Mastek Q1 results on October 09, 2002

Mastek Ltd has informed BSE that it will be holding a Board Meeting on October 09, 2002 to consider and take on record the Unaudited Financial Results for the first quarter ended September 30, 2002.

Shree Rama Multi-Tech Board to seek shareholders approval for annulment of FY-01 dividend

Shree Rama Multi Tech Ltd has informed BSE that an EGM of the members of the Company will be held on October 26, 2002 to transact the following: The dividend at the rate of 30% on the paid up equity share capital of the Company for the year ended September 30, 2001 declared at the 8th AGM held on December 29, 2001 be and is hereby annulled. The Company has further informed that the operational & financial performance of the Company has been adversely affected. Thus the cash generation has been insufficient for servicing the interest and other capital liabilities. Consequently the Company has defaulted to payment of interest and principal due to the banks and financial institutions. The financial institutions have instructed the Company to clear their outstanding dues before any dividend declared at the AGM held on December 29, 2001 is paid to the equity shareholders. However the Company has not been able to clear these outstanding dues till date. For reasons stated herein the Company is not in a position to pay dividend. The management of the Company is committed towards reviving the operations of the Company and turning around the profitability and has submitted a business restructure plan to the banks/financial institutions. The negotiations for the restructuring of the debts of the Company is progressing with the banks/financial institutions and has reached an advanced stage. The Company has already received large long term contracts from FMCG Companies of repute and the production is being carried out regularly and the orders are been fulfilled as per the targets. In view of all this the Board has proposed the annulment of the dividend to the members at the EGM. In the long term interest of the Company the members may grant its approval for the annulment of 30% dividend on the paid up equity capital of the Company declared at the AGM of the Company held on December 29, 2001.

Eldeco Housing & Ind Board recommends final dividend @ 10%

Eldeco Housing & Industries Ltd has informed BSE that the Board of Directors of the Company at their meeting held on October 01, 2002, approved the draft annual accounts of the Company together with the Directors Report and Auditors report thereon. The Directors have recommended a final dividend of 10% for the financial year 2001-2002. The Board has decided to close Register of Members and share transfer books of the Company from November 16, 2002 to November 30, 2002 (both days inclusive) and the AGM of the Company is decided to be held on November 30, 2002.

HDFC Bank allots equity shares to its 40 employees

HDFC Bank Ltd has informed BSE that it has allotted 100600 equity shares to 40 employees of the Bank. The allotment was approved at the meeting of the Share Committee of the Bank held today (October 1, 2002). The allotment of shares is pursuant to the Employees Stock Option Scheme duly approved by the shareholders of the Bank at their meeting held on January 01, 2000.

Reliance Ind Q2 results on October 31, 2002

Reliance Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 31, 2002 inter alia to consider unaudited finanical results of the Company for the second quarter ending September 30, 2002.

Thomas Cook wins Corporate Governance award

Thomas Cook India Ltd, the leading travel & travel related services provider has been awarded the Golden Peacock Award for Excellence in Corporate Governance. The criteria for the award include transparency, excellence in conducting business, various levels of management, social and environmental responsibility, ethical business practice and consistent creation of value for all the stakeholders. Elated at his Company's achievement, Ashwin Kakkar, CEO & MD says, " The award is a public recognition of the organisational values and work processes that we at Thomas Cook believe in and have embedded in our Company. Thomas Cook has formed various Management Committees to monitor and guide various aspects of the business and has a defined code of ethics, integrity and values. The prestigious Golden Peacock National Awards have been initiated by the Institute of Directors (IOD), a non profit organization, in association with World Environment Foundation (WEF), Federation of Indian Chamber of Commerce and Industry (FICCI) World Council for Corporate Governance (WCFCG) and Centre for Corporate Governance. Thomas Cook was selected as the Runner Up for this internationally recognised award by a panel of judges headed by Justice A M Ahmadi, former Chief Justice Supreme Court of India and, the award was presented by Dr Sahib Singh Verma, the Union Minister for labour, at the third International Conference on Corporate Governance in New Delhi on September 26, 2002.

Hindalco revises dates of open offer

DSP Merrill Lynch Ltd has informed BSE that Hindalco Industries Ltd has revised the dates of the open offer which are as follows: The Specified Date (for the purpose of determining the names of Shareholders to whom the letter of offer will be posted) is August 16, 2002. The Offer will open on October 14, 2002. The Date of Closing of the offer is November 12, 2002. Earlier the Company had informed that Hindalco Industries Ltd ("Hindalco") alongwith its wholly owned subsidiary Renukeshwar Investments & Finance Ltd ("RIFL"/"PAC") as Person Acting in Concert, is making a voluntary offer to the public shareholders of Indian Aluminium Company Ltd ("Indal") to acquire upto 18,182,507 fully paid up Shares of Rs 10/- each representing 25.5% of the paid up equity share capital and being the balance outstanding equity share capital of Indal at a price of Rs 120 per share payable in cash subject to terms and conditions.

Sarabhai Electronics members approve scheme of amalgamation

Sarabhai Electronics Ltd has informed BSE that in connection with the proposed amalgamation of DDE ORG Systems Pvt Ltd with the Company, separate meetings of the Shareholders, Secured Creditors and Unsecured Creditors of DDE ORG Systems Pvt Ltd were held on September 27, 2002 and that in all the meetings chaired by Mr Kartikeya V Sarabhai, Chairman appointed for the purpose, the necessary consent of the shareholders, secured and unsecured creditors have been obtained. The Scheme of Amalgamation will become effective after the necessary approval is obtained from the Hon'ble High Court of Gujarat at Ahmedabad.

Hydro S&S Ind announces change in management structure

At the meeting of the Board of Directors of Hydro S&S Industries Ltd held on September 28, 2002 the following changes in the Board were approved. 1. Mr Aage Frohde Director representing M/s Norsk Hydro ASA resigned from the Board and which was accepted 2. Mr Murali Venkatraman Director was appointed as the Vice-Chairman of the Board 3. Mr Narayan Sethuramon Director (Corporate Affairs) was appointed as the Managing Director of the company.

Managing director of Sical resigns

At the meeting of South India Corporation Agencies Ltd the Board of Directors held on September 16, 2002 the Board of Directors accepted the resignation of Mr Tony Adam, Managing Director and he would be relieved from the services of the company, during the 3rd week of November 2002.

P S Kumar appointed as Director of Elnet Technologies

Elnet Technologies Ltd has informed BSE that Parvathaneni Santhosh Kumar has been appointed as Director of the company.

Kale Consultants Director S H Kale retires

Kale Consultants Ltd has informed BSE that Dr S H Kale Director of the Company who was due to retire by rotation at the 16th AGM of the Company held on September 30, 2002 had expressed his desire a few days before the meeting that due to his increasing commitments in Australia he does not wish to be reappointed as Director of the Company. Accordingly at the AGM of the Company held on September 30, 2002 the members passed a resolution that Dr S H Kale be not reappointed and that the vacancy caused due to the retirement of Dr S H Kale be not filled in.

Bharat Electronics fixes due date for dividend

Bharat Electronics Ltd has informed BSE that the shareholders of the Company at their 48th AGM held on September 30, 2002 declared payment of 50% dividend on the paid up equity capital of the Company (Dividend @ Rs 5/- per share) for the year 2001-02. The Company has further informed BSE that it has fixed October 22, 2002 as the due date of dividend.

Update on Financial Technologies India Board Meeting for restructuring

Financial Technologies India Ltd has informed BSE that at the meeting of the Board of Directors held on September 29, 2002 for considering restructuring of equity capital the Board took the following decisions: The paid up equity capital of the Company be reduced from Rs 25,48,67,830 to Rs 7,48,06,290 by writing off intellectual property rights (dotcom asset) amounting to Rs 18,00,61,540 from the books of the Company as it is unrepresented by available assets and not capable of generating revenues. To give effect to the reduction of capital the authorised capital of the Company is proposed to be altered as under: From Rs 30,00,00,000 divided into 3,00,00,000 equity shares of Rs 10/- each. To Rs 30,00,00,000 divided into 15,00,00,000 equity shares of Rs 2 each. The reduced paid-up capital of Rs 7,48,06,290 will be divided into 3,74,03,145 equity shares of Rs 2/- each. The members of the company holding 100 shares on a record date/book closure to be announced, would hold 147 shares thereafter. As a consequence of above the debit on profit & loss account to the extent of Rs 18 million on account of depreciation on the aforesaid IPR will cease and thus will have positive equivalent effect on the bottomline. The existing employee stock option scheme (ESOS) will accordingly stand suitably amended. The above proposal is subject to approval by special resolutions of the shareholders at all extraordinary general meeting of the Company and other relevant authorities.

S K Manocha takes charge as CMD of ITI

ITI Ltd has informed BSE that consequent to the superannuation of Smt Lakshmi G Menon, Chairman & Managing Director, ITI Ltd wef September 30, 2002 Shri S K Manocha, Director R&D has taken over the charge of the post of Chairman & Managing Director, ITI Ltd wef September 30, 2002 (afternoon).

Investment Trust of India declares 40% interim dividend

The Board of Directors of Investment Trust of India Ltd at its meeting held today (October 1, 2002) has declared an interim dividend of Rs 4 per share @ 40% for the year ended 2002-2003.

Strike at Ipca Lab's Athal Silvassa unit called off

Ipca Laboratories Ltd has informed BSE that the workmen of the company's Athal (Silvassa) formulations manufacturing unit who had gone on a flash illegal strike since September 23, 2002 have now called off their strike and that the normal manufacturing operations have resumed at the said formulations manufacturing unit from 1st shift today (October 1, 2002).

Valecha Engg fixes record date for issue of bonus shares

Valecha Engineering Ltd has fixed November 12, 2002 as the record date for the purpose of issuing one bonus share for every two existing equity shares held. Transactions in the above mentioned equity shares will be on cum bonus basis upto November 07, 2002 and Ex-bonus basis from November 08, 2002.

Vision Organics fixes record date for bonus issue

Vision Organics Ltd has fixed October 28, 2002 as the record date for the purpose of issuing one bonus share for every one existing equity share held. Transactions in the above mentioned equity shares will be on cum bonus basis upto October 23, 2002 and Ex-bonus basis from October 24, 2002.

Machino Plastics fixes record date for the purpose of bonus issue

Machino Plastics Ltd has fixed October 29, 2002 as the record date for the purpose of bonus issue. The Company will allot one bonus share for every one existing equity share held. Transactions in the above mentioned equity shares will be on cum bonus basis upto October 24, 2002 and Ex-bonus basis from October 25, 2002.

V S Jain takes over the charge of Chairman of SAIL

Steel Authority of India Ltd has informed BSE that on superannuation of Shri Arvind Pande from the services of the Company, Shri V S Jain has taken over the charge of Chairman, SAIL with effect from September 30, 2002.

Motherson Sumi fixes record date for stock split

Motherson Sumi Systems Ltd has fixed October 30, 2002 as the record date for the purpose of sub division of existing equity share from every one existing equity share of Rs 10/- each into two equity shares of Rs 5/- each. The reduced paid up value will be with effect from October 21, 2002.

Innovision eCommerce fixes record date for subdivision of shares

Innovision eCommerce Ltd has fixed October 16, 2002 as the record date for the purpose of Stock split of existing equity shares from every one existing equity share of Rs 10/- each into ten equity shares of Rs 1/- each. The reduced paid up value will be with effect from October 07, 2002.

Asahi India fixes record date for stock split

Asahi India Safety Glass Ltd has fixed October 18, 2002 as the record date for the purpose of stock split of existing equity share from every one existing equity share of Rs 10/- each into ten equity shares of Rs 1/- each. The reduced paid up value will be with effect from October 08, 2002.