Digital Equipment Assessed at SEI's SW-CMM Level 4

Digital Equipment India Ltd, a globally focused Software services and development company, today (August 8, 2001) announced that it has been assessed at Level 4 of the Capability Maturity Model (CMM) of the Software Engineering Institute (SEI), at Carriage Mellon University, in Pittsburgh, PA, USA. The assessment was carried out by a SEI-authorized Lead Assessor from QAI (India) Ltd The SW-CMM is widely regarded as the best means to measure the quality and maturity of an organization's software project management, development maintenance and migration processes. The Lever 4 SW-CMM assessment signifies that Digital has a well defined, measured process for delivering software solutions that is integrated into its management processes. Commenting on the assessment, Mr. Som Mittal, President & CEO, Digital Equipment said, "While we are on the path of continuous improvement its is imperative that we benchmark our progress against diverse leaders in the select band of organizations worldwide that are at this level of capability maturity. This is a significant milestone in our continuous endeavor to be a trusted software partner to our customers worldwide".

Cheviot Co to set up 100% EOU in Falta Export Processing Zone

Cheviot Co.Ltd has informed BSE that the Board of Directors of the company has decided to set up 100% EOU in Falta Export Processing Zone to manufacture 'Industrial Fabric' made out of nature /synthetic/blended yarn e.g.jute, blends, etc.

Gati Corp FY-01 net down by 10.60%

Gati Corporation Ltd has posted a net profit of Rs 80.90 million for the year ended June 30, 2001 as compared to Rs 90.50 million in the year ended June 30, 2000. Total Income has increased from Rs 2046.50 million in FY-00 to Rs 2502.30 million in the year ended June 30, 2001. The Directors have recommended a Dividend of 40% for the year 2000-2001

High Court approves amalgamation of Ciba CKD Biochem with Novartis

The High Court of Judicature at Bombay today (August 8, 2001) approved amalgamation of Ciba CKD Biochem Ltd with Novartis India Ltd. Both companies will now commence steps to implement the Court order. The entire process is expected to be completed by end October.

SSI Technologies attains SEI CMM Level 5

SSI Technologies, the software development and consulting division of SSI Ltd, has been successfully assessed for SEI SW-CMM Level 5. It joins a select list of 27 Indian companies (as per Nasscom survey) to have achieved this quality landmark. The Capability Maturity Model for Software (CMM or SW-CMM) is a model for judging the maturity of the software processes of an organization and for identifying the key practices that are required to increase the maturity of these processes. It has been developed under the stewardship of the Software Engineering Institute (SEI), a federally funded research and development center sponsored by the U.S. Department of Defense and operated by Carnegie Mellon University. The CMM is organized into five maturity levels. Level 5, the Optimizing level, denotes an organization that can continuously improve processes through quantitative feedback from the process and from piloting innovative ideas and technologies. In being assessed for Level 5, SSI Technologies has benchmarked its quality of products, process and delivery with the best among the world. "From the beginning, we have institutionalized our quality processes," says K.Shriniwas, CEO, SSI Technologies. "The SEI CMM Level 5 assessment will further SSI Technologies' thrust towards higher quality initiatives and will act as a springboard for our foray into quality consultancy in the international arena." The SW-CMM Level 5 assessment was carried out by KPMG in July-August 2001. " I am impressed by SSI Technologies' quality management practices. They have the distinction of maintaining four consecutive zero NCRs in the ISO 9001 external audits and in my opinion, have been one of the organizations with well defined processes," says V.Kannan, Lead Assessor, KPMG India.

LIC sells 0.18 million shares of Cabot India

Cabot India Ltd has informed BSE that Life Insurance Corpn. of India has sold 1,82,840 equity shares of the company @ Rs.100 per share to M/s.Cabot UK Holdings Ltd. Cabot UK Holdings Ltd, a Company registered in England and Wales and Cabot Corporation, USA, a Company incorporated under the laws of the State of Delaware ("the Acquirers") had made an open offer to acquire upto 34,95,360 fully paid up equity shares of Rs 10 each of the Company to the shareholders of Cabot India Ltd in compliance with the Securities and Exchange Board of India (Substantial Acquirers of Shares and Takeovers) Regulations, 1997 at a price of Rs 100 per share.

BSEL Information Systems to shut operations at Belapur unit

BSEL Information Systems Ltd has informed BSE that, due to massive recession in the market and other reasons, they are constrained to close down all its functions at its unit at Hilton Centre, Plot No.66, Sector-11, C.B.D. Belapur, Navi Mumbai w.e.f. August 06, 2001.

Punjab Tractors fixes book closure for the purpose of Dividend

Punjab Tractors Ltd has fixed the Book Closure from September 06, 2001 to September 15, 2001 for the purpose of AGM and 75% Dividend.

Shree Rama Multi-Tech to set up manufacturing facility in China

The Board of Directors of Shree Rama Multi-Tech Ltd at its meeting held on August 07, 2001 has decided to set up manufacturing facility in China with an investment of Rs approx Rs 1000 million for plastic and laminated tubes. This will enable the company to cater the huge demand for the plastic and laminated tubes in China. Shree Rama is one of the few companies of the world with the vertically integrated manufacturing facility for laminated tubes and has developed technology to manufacture unprinted tube laminate which is a raw material to manufacture laminated tubes. There is a huge demand for tube laminate in China. The company is therefore planning to export unprinted tube laminate to China, which will be printed by the company's unit in China and the same can also be sold in the Chinese market as well. This will be the first overseas venture for Shree Rama Multi-Tech Ltd and the same is likely to be completed by December 2002.

Max India fixes book closure for the purpose of Dividend

Max India has fixed September 07, 2001 to September 14, 2001 as book closure dates for the purpose of AGM and 35% Dividend.

BSE imposes Special Margin on Suven Pharmaceuticals

BSE has informed the members of the exchange that Special Margin of 25% has been imposed on Suven Pharmaceuticals Ltd with effect from August 8, 2001. Members are hereby further informed that special margins will be imposed either on the net outstanding purchase or net outstanding sales positions.

Hughes Tele.com & Tata Teleservices to combine

Hughes Network Systems, a shareholder of Hughes Tele.com India Ltd (HTIL) and Tata Industries Ltd, a shareholder of Tata Teleservices Ltd (TTL) announced that they have signed a Memorandum of Understanding (MOU) for a combination concerning the basic telephony services in relation to existing licenses to HTIL in Maharashtra and of TTL in Andhra Pradesh. The MOU is subject to approval of the respective Boards of Directors, shareholders, relevant corporate bodies and necessary statutory and regulatory approvals including DOT. This announcement should not be construed to imply that any definitive agreement has or will reached between the parties. DSP Merrill Lynch acted as exclusive financial advisors to Tata Group, ICICI Securities & Finance Company Ltd (ICICI Securities) acted as exclusive financial advisors to Hughes.

Continental Coffee appoints Company Secretary

Continental Coffee Ltd has BSE that the Board of Directors in their meeting held on July 28, 2001 appointed Mr. K.Phani as Company Secretary of the Company. He will further act as the compliance officer under clause 47 of listing agreement.

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