Sai Info Services Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on August 16, 2002 to consider inter alia the proposal of buy back of securities.
Srinivasan resigns from Directorship of Avantel Softech
Avantel Softech Ltd has informed BSE that one of the Director's Dr R Srinivasan has resigned from the Board w e f June 20, 2002.
Vital Communications Board approves allotment of shares on preferential basis
Vital Communications Ltd has informed BSE that at a meeting of the Board of Directors of the Company held on August 07, 2002, the Board has approved the following:
Forfeiture of 720000 equity shares of Rs 10/- each allotted to M/s Research Engineers Pvt. Ltd on preferential basis for non payment of call money.
Allotment of 2,77,20,000 equity shares of the Rs 10/- on preferential basis at par as per SEBI guidelines for preferential issue and other applicable statutory provisions and in accordance with the approval of the members of the Company in the AGM held on July 31, 2002.
Dai-ichi Karkaria forfeits 5,11,000 equity shares
Members of the exchange are hereby informed that Dai-ichi Karkaria Ltd has forfeited 5,11,000 equity shares due to non-payment of allotment /call monies.
Gem Spinners fixes Book Closure Date for reduction of share capital
Members of the exchange are informed BSE that Gem Spinners India Ltd has fixed September 27, 2002 to September 30, 2002 as book closure date for reduction of share capital of the Company from Rs 28,60,00,000 divided into 2,86,00,000 equity shares of Rs 10/- each to Rs 14,30,00,000 divided into 2,86,00,000 equity shares of Rs 5/- each by effecting a reduction of Rs 5/- per share and simultaneously and immediately thereafter every two of such equity shares of the reduced face value of Rs 5/- each shall stand consolidated into one new equity share of Rs 10/- each.
Nagarjuna Agrichem Board to consider proposal for allotting shares to Vijayalakshmi Insecticides
Nagarjuna Agrichem Ltd has informed BSE that a meeting of the Board of Directors of the Company has been convened on August 11, 2002 to consider a proposal for allotting shares to M/s Vijayalakshmi Insecticides and Pesticides Pvt. Ltd, a group Company which forms part of the promoters group by way of preferential offer. The Company has further informed that said resolution for allotting preferential shares to M/s Vijayalakshmi Insecticides Pvt. Ltd would be put up before the AGM of the Company scheduled to be held on September 12, 2002.
GSFC rationalizes plant load of Urea-I and Melamine-I & II plants
Gujarat State Fertilizers & Chemicals Ltd has informed BSE that due to poor monsoon and sluggish market demand, Company has for the time being rationalised plant load of Urea-I and Melamine-I & II Plants. The Company has further informed that this is purely of a temporary nature.
Jaiprakash Ind fixes book closure date for AGM
Jaiprakash Industries Ltd has informed BSE that for the ensuing AGM and payment of final dividend if approved at the 19th AGM of the Company proposed to be held on September 27, 2002 the Register of Members and Shares Transfer Books of the Company will remain closed from September 14, 2002 to September 27, 2002 (both days inclusive).
Punjab Tractors fixes book closure for payment of dividend
A meeting of the Board of Directors of Procter & Gamble Hygiene and Health Care Ltd will be held on August 26, 2002 to consider and approve the accounts for the year ended June 30, 2002.
The company has fixed the book closure from September 14, 2002 to September 27, 2002.
Singer India rights issue to close on Sept 13, 2002
Singer India Ltd has informed BSE that the rights issue which opened for subscription on July 16, 2002 was to originally close on August 14, 2002. However the company has decided to extend the issue till September 13, 2002.
Lock out declared at Graham Firth plant at Chikalthana
Graham Firth Steel Products Ltd has informed BSE that in view of labour unrest due to non payment of wages to workers at the plant the management was forced to declare lock out at its Chikalthana, Aurangabad plant w.e.f August 04, 2002.
Salora International-Income Tax Appellate Tribunal Order
Salora International Ltd has informed BSE that consequent upon Income Tax Appellate Tribunal Order dated August 02, 2002 disputed Income Tax demand of Rs 180.158 million including interest of Rs 71.165 million for the assessment year 1997-98 will become Nil on appeal effect, since the company's appeal against the assessment order passed by Jt. Commissioner of Income Tax, has been accepted by the Tribunal in favour of the company. Accordingly, payment made by the company against this disputed Income Tax demand amounting to Rs 97.365 million will become refundable along with accrued interest from the Income Tax Department.
Supreme Court stays judgement of High Court regarding ban on manufacturing & sale of Pan Masala - Kothari Products
Kothari Products Ltd has informed BSE that the Hon'ble Supreme Court of India has stayed, the Judgement of Allahabad High Court regarding ban on manufacturing & sale of Pan Masala & Gutkha in the State of Uttar Pradesh, until further orders.
Vardhman Polytex annuls forfeiture of equity shares
Vardhman Polytex Ltd has informed BSE that the Board of Directors in its meeting held on August 11, 2001 had forfeited 65263 equity shares due to non-payment of allotment money.
After forfeiture of shares, the company had received many requests from the shareholders for annulment of forfeiture, as they were willing to pay the balance allotment money. Taking into consideration of shareholders' requests, the Board of Directors in its meeting held on July 30, 2002 has annuled the forfeiture of shares.
India Gypsum announces change in management structure
India Gypsum Ltd has informed BSE that S Parthasarathy, President and Whole-time Director of the company, sought an early retirement from the company and resigned on August 6, 2002. The Board of Directors has accepted his resignation. A three member Management Committee has been appointed under the Chairmanship of Mike Jones, with immediate effect, to supervise the overall management till such time, a new incumbent is able to take his place.
Sirpur Paper Mills buy back begins from August 9, 2002
BSE has informed the members are hereby informed that The Sirpur Paper Mills Limited has announced buyback of its fully paid-up equity shares of face value of Rs 10 each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs 40 per equity share payable in cash for an aggregate amount not exceeding Rs. 70 million
Proposed time table for buyback:
Date of Opening of the Buyback on BOLT August 9, 2002
Last date for the Buyback: January 23, 2003 or when the company has completed the buyback to the extent of 20,00,000 ordinary shares or has completely utilized the total amount allocated for buyback or the dates as may be decided by the board whichever is earlier.
Godrej Consumer Products buy back to commence on August 12, 2002
BSE has informed the members that Godrej Consumer Products Limited has announced buyback of its fully paid-up equity shares of face value of Rs.4/- each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs 175per equity share payable in cash for an aggregate amount not exceeding Rs. 46 million.
Proposed time table for buyback:
Date of Opening of the Buyback on BOLT: August 12, 2002
Last date for the Buyback: July 21, 2003 or earlier as may be decided by the Board of Directors
Details of Buyback orders on BOLT.
The members may note that the Physical Equity Shares can be offered for Buyback to the company in the list of Non-Specified Securities under scrip code as mentioned below:
Code No. : 532446
Market Lot : 1 Share
Scrip ID on BOLT System : GOCBBPH
Abbreviated Name on BOLT System : GODREJ CONS*
The broker member buying the shares in physical mode under buyback will accept equity shares certificates of any denomination in buyback in respect of physical shares, since the market lot of the physical scrip shown on the BOLT is "one".
The Dematerialized Equity shares of The Godrej Consumer Products Ltd. can be offered for Buyback to the company through the "Buyback" button as mentioned in the Exchange Notice No 73405/2001 dated January 4, 2001 under scrip code no: 532424 in rolling settlement.
Sree Rayalseema Alkalies & Allied Chem to seek shareholders approval for issue of equity shares on preferential basis
The Board of Directors of Sree Rayalseema Alkalies & Allied Chemicals Ltd at its meeting held on July 30, 2002 has considered and unanimously recommended for placing an agenda at the AGM of the company to be held on September 27, 2002 for the shareholders approval for issue of equity shares on preferential allotment basis to the value of Rs 90 million to be fixed as per SEBI guidelines to promoters, their relatives & associates.
Apollo Tyres & Modi Rubber reach principle agreement
Apollo Tyres Ltd has informed BSE that Apollo Tyres Ltd (ATL) Modi Rubber Ltd (MRL) have reached, in principle agreement whereby ATL will contract production of tyres to Modi Rubber at the Modi Rubber facilities. ATL will provide the raw materials, which will be covered into tyres at the MRL production facilities under the existing brand names of Modi Rubber. They will be sold through the sales and distribution channels of ATL.
ATL and MRL are also working towards development of a long term relationship, including acquisition of MRL tyre business through taking over of its assets and liabilities. At this stage various options are being explored and it is premature to speculate on what the nature and financial implications of this possible understanding could be. Any agreement would be subject to the approval from financial institutions, bankers, shareholders and respective boards as also undertaking due diligence on all aspects of the transaction.
Chennai Petro announces change in management structure
Chennai Petroleum Corporation Ltd has informed BSE that Mr M B L Agarwal, Executive Director (Internal Audit), Indian Oil Corporation Ltd ceased to be a Director on the Board of Chennai Petroleum Corporation Ltd (CPCL) effective August 1, 2002.
In his place, T L Jain, Executive Director (Southern Region) Indian Oil Corporation Ltd, has been appointed as a part time Director on the Board of CPCL.
HPCL not interested in exercising its first right of purchase of MRPL shares from Aditya Birla Group
Hindustan Petroleum Corporation Ltd has informed BSE that the it has advised Aditya Birla Group of Companies that HPCL is not interested in exercising its first right of purchase of MRPL shares from ABG. This is subject to approval of Government of India.
D Link to seek members approval for buy back of shares
D Link India Ltd has informed BSE that the Board of Directors at its meeting held on Friday, have decided to convene an Extra Ordinary General Meeting on September 30, 2002 for the following purpose:
a) To alter the Articles of Association to include the clause relating to Buy back of shares.
b) To obtain shareholders approval authorizing the Board to purchase its own fully paid up equity shares for an amount not exceeding Rs 160 million, upto a maximum price of Rs 80 per equity share.
Veronica Laboratories Board approves increase in FII investment upto 49%
Veronica Laboratories Ltd has informed BSE that the Board of Directors of the company has unanimously passed the resolution of permitting FII investment up to the limit of 49% in its meeting held on Friday.
The Board has also passed a resolution under Section 257 of the Companies Act, 1956 inducting two new additional directors in order to make the Board broad-based and conduct the operations of the Company in a professional manner. The names of the newly inducted Directors are as under:
Bipin Damji Shah, a hard-core finance professional having substantial experience in finance and marketing Fakhruddin Moiyadi who is having a vast experience in formulations.
