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Home > Money > Corporate News > Quick Company Info
August 8, 2002
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Mindteck Board approves 10% dividend for FY-02
The Board of Directors of Mindteck India Ltd has approved and recommended for declaration, to the company's shareholders, a dividend at 10% for the year ended June 30, 2002.
The Board approved the merger of its wholly owned subsidiary Infotech Holdings Inc with its US operating company Mindteck Consulting Inc, subject to the approval of Reserve Bank of India.

Stelco Strips Board approves issue of equity on shares on preferential basis
At the meeting of the Board of Directors of Stelco Strips Ltd held on July 29, 2002 the Board of Directors of the company decided to offer, issue, and allot from time to time, in one or more tranches, on preferential basis
1) 4,50,000 equity shares of the face value of Rs 10 each to Century Fiscal Services Ltd 2) 2,00,000 equity shares of the face value of Rs 10 each to Samridhi Finlease P Ltd
3) 1,00,000 equity shares of the face vale of Rs 10 each to Jiwan Flora Ltd for cash at par or at such a price as may be determined in accordance with the prevalent SEBI guidelines whichever is higher.

MRPL Board approves issue of equity shares on preferential basis
Mangalore Refinery & Petrochemicals Ltd (MRPL) has informed BSE that the Board of Directors of the company at its meeting held on August 8,2002 has approved issuance of additional Equity Shares upto Rs 20,000 million on preferential basis as per the existing SEBI guidelines for such issue of preferential shares to ONGC and /or Lenders of the Company on conversion of their debt into equity as part of a proposed financial restructuring of the company subject to approval of Shareholders of the company and lenders of the company and lenders of the company and further subject to approval of Govt. of India for cancellation of tripartite MOU dated June 26,1987 between Govt. of India, Hindustan Petroleum Corporation Ltd. (HPCL) and Indian Rayon & Industries Ltd. (IRIL) and completion of sale of Shares of IRIL and its associates in MRPL to ONGC.

Geodesic Info Board to consider matters related to setting up of office in US
A meeting of the Board of Directors of Geodesic Information Systems Ltd is scheduled to be held on August 16, 2002 to consider the following:
1. Broad basing the Board of Company by inducting independent Director on Board
2. Matter related to setting up of office of Company in US.

Carrier Aircon announces Book Closure Date for AGM
Carrier Aircon Ltd has informed BSE that the annual closure of Register of Members, for the equity shares of the Company, will remain closed for a period of 10 days from September 18, 2002 to September 27, 2002 (both days inclusive) to update the Members Register.
The 16th AGM of the Company is scheduled to be held on September 27, 2002 at the Registered Office of the Company.

Odissi Securities Board approves scheme of amalgamation
Odissi Securities Ltd has informed BSE that the Board of Directors at its meeting held on Thursday have considered and approved the scheme of amalgamation of the Company, along with other Transferor Companies, with the Textilespace Technologies Ltd (the Transferee Company) w e f April 1, 2002 (Appointed Date) subject to the approval of shareholders and Hon'ble High Court of Gujarat at Ahmedabad.
The equity shareholders of the Odissi Securities Ltd (the Transferor Company) shall be allotted eleven 12% Non Cumulative Redeemable Preference Shares of Rs 10 each of the Textilespace Technologies Ltd (the Transferee Company) for every 10 equity shares of Rs 10 each of the Odissi Securities Ltd held by them as on Record date as may be fixed by the Transferee Company.
The scheme provides that on its becoming effective, all assets and liabilities of the Company, along with other Transferor Companies shall vest in the Transferee Company w e f Appointed date.

LIC sells 19,66,375 equity shares of Reckitt Benckiser
Life Insurance Corporation of India has sold 19,66,735 equity shares of Rs 10 each of Reckitt Benckiser India Ltd @ Rs 250 per share to M/s Reckitt Benckiser plc along with Lanacaster Square Holdings SL as Person Acting in Concert.

Thomas Cook Q3 results on August 21, 2002
Thomas Cook India Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on August 21, 2002 to consider inter alia the unaudited financial results of the Company for the third quarter ended July 31, 2002.

Upaid selects Wipro Technologies to develop m-commerce, financial services and Telecom Software Solutions
Wipro Technologies, the global IT services division of Wipro Ltd and Upaid, a pioneer of real-time software solutions for next generation pay-as-you-use roaming and mobile payment services to mobile operators and financial service & content providers on August 05, 2002 announced the signing of an agreement for software development and maintenance services.
Under the terms of the agreement, Wipro will develop new m-Commerce, financial services and telecom software solutions for Upaid and also offer maintenance services for Upaid's existing solutions. Through this association, Upaid will derive significant benefits by leveraging on Wipro's quality processes and telecom domain expertise and enhance its market lead in developing real-time software solutions.

A V Rajwade ceases to be Director of Crisil
Credit Rating Information Services of India Ltd has informed BSE that Mr A J Rajwade has ceased to be a Director of the company.

Biofil Chemicals & Pharma announces change in management structure
Biofil Chemicals & Pharmaceuticals Ltd has informed BSE the following changes that have been made in the meeting of the Board of Directors of the Company held on July 31, 2002, regarding appointment and resignation of Directors of the Company.
Shri Sandeep Shah and Shri Pragnesh Shah appointed as additional Directors of the Company subject to hold office upto the next AGM
Resignation by Mr Anad Sethia from the Managing Directorship as well Directorship and Mr C P Khandelwal from the Directorship of the Company.

Satyam signs agreement with Saint-Gobain Abrasives
Satyam Computer Services Ltd a leading global IT services firm, today (August 8, 2002) announced the signing of an agreement with Saint-Gobain Abrasives, Inc a Massachusetts (USA) based corporation to provide IT services. As part of the engagement, Satyam has established and offshore development center for Saint-Gobain in Bangalore, India. The Center will develop reports, interfaces, conversion, enhancement and forms (RICEF objects) for the global SAP project required as part of the first Task Order.
Satyam's Senior VP and Manufacturing Vertical Head, Subu D, said of the deal with Saint-Gobain, "This breakthrough with Saint-Gobain Abrasives is another impressive demonstration of the confidence of large companies in Satyam's expertise and state-of-the-art technology. We take great pride in becoming associated with such an outstanding worldwide organisation".

Shree Krishna Paper Mills declares 5% dividend
The Board of Directors of Shree Krishna Paper Mills & Industries Ltd in their meeting held today (August 08, 2002) has recommended a dividend of 5% on the paid up equity capital of the company. The dividend if declared in the ensuing AGM will be paid to those shareholders whose name will appear in the Register of Members on the date of book closure ie September 11, 2002.

Global Infrastructure & Tech Board approves further issue of shares to FD holders
Global Infrastructure & Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 31, 2002 has approved further issue of equity shares on preferential allotment basis to those Fixed Deposit holders of the Company who have consented to accept the allotment of shares in lieu of repayment of their entire dues of Fixed Deposit amount kept with the Company.

Kiran Kumar appointed as MD of Ideaspace Solutions
Ideaspace Solutions Ltd has informed BSE that the Board of Directors has approved the appointment of Shri Kiran Kumar Grandhi as the Managing Director of the company for a period of three years within the limits under the schedule XIII of the Companies Act, 1956 with effect from June 01, 2002.

BHEL Board to recommend dividend
Bharat Heavy Electricals Ltd has informed BSE that the meeting of the Board of Directors of the Company to recommend dividend on equity shares will be held on August 16, 2002.

Infosys Tech clarifies on news item
With reference to news item appearing in a leading financial daily that Infosys Technologies Ltd having bagged orders worth $ 70 million the company has informed BSE that it is a market rumour and the company has no comments to offer on the said subject.

Compudyne Winfosystems takes the Telegu Industry with a storm
With credits like Godzilla, Independence day, Dr Dolittle and The Generals Daughter to name a few Hollywood and films like the blockbuster Devdas in Bollywood, Compudyne Winfosystems Ltd has created a niche for itself in the visual effects industry. After dazzling audiences worldwide, Compudyne's work can now be seen in the Telugu Industry also. Its creative division, Digital Art Media has proved its mettle once again in Mr B Gopal's Cheeranjeevi starrer film INDRA. Seamlessly integrated visual effects have enhanced the story line and taken the film to a new height.

Moser Baer FY-02 audited results on August 16, 2002
A meeting of the Board of Directors of Moser Baer India Ltd will be held on August 16, 2002 to consider and approve the audited accounts of the company for the year 2001-2002 and to recommend dividend, if any.

SRF Polymers Board approves buyback of shares
SRF Polymers Ltd has informed BSE that Board at their meeting held on August 06, 2002 has approved:
1. Buy-Back upto a maximum of 16,13,000 equity shares which is less than 25% of the fully paid-up equity capital of the company.
2. Buy-back through open market route.
3. Buy-back at a price not exceeding Rs. 21/- per equity share.
4. Buy-back offer shall remain open only for a period of 2 months.
5. The proposed Buy-back could absorb a maximum of Rs. 33.873 million which is less than the 10% of the paid-up capital and free reserves of the company.

Tainwala Polycontainers announces change in management structure
Tainwala Polycontainers Ltd has informed BSE that the Board in its meeting held on July 29, 2002 has accepted the resignation of Shri F.S.Broacha as Director and Chairman of the Company with effect from July 29, 2002 and Dr. Ramesh Tainwala, Non executive Director has been appointed as the Chairman of the Company w e f July 29, 2002 .

Cranex to discuss restructuring plans
The Board of Directors of Cranex Ltd will meet on August 12, 2002 to transact the following business:
To discuss & finalise Co's restructuring plans to improve co's future earning potential
To discuss reasons for and advantages of reduction of share capital of the company
To reconsider the resolution for splitting of the face value of Co's equity shares of Rs 10 each passed in the Board meeting held on June 30, 2002.
To reconsider the resolution for issue of equity shares on preferential basis passed in the Board meeting held on July 30, 2002.
To change and fix the date for Board meeting for approval of audited accounts of the company for the year ended June 30, 2002.
Any other matter.

Gujarat NRE Coke to issue equity shares on preferential basis
Gujarat NRE Coke Ltd has informed BSE that the Board of Directors at its meeting held on August 06, 2002 has decided to issue equity shares aggregating to Rs.50 million on preferential basis and also an increase in the authorised capital of the company to accommodate such further issue subject to the consent of the members.

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