BSE has informed the members of the exchange that Softpro Systems Ltd have forfeited 21,200 equity shares due to non-payment of allotment / call monies.
Shilchar Electronics reissues forfeited shares
BSE has informed the members of the exchange that Shilchar Electronics Ltd has reissued 260950 equity shares which were earlier forfeited by the company due to non payment of allotment/call monies. Hence members may note that the above mentioned reissued shares will be good delivery in the market.
Deepak Nitrite Board approves consolidation of Nitrite & Nitroaromatic Division situated at Baroda
Deepak Nitrite Ltd has informed BSE that the Board of Directors of the Company at its meeting held on Saturday has decided to consolidate the existing two division of the Company viz. Nitrite and Nitroaromatic Division, adjacent to each other in Nandesari, Dist. Baroda. This is purely to achieve operational efficiency.
The Company has further informed that there has been no change in the Company's business plans and strategies. The Company shall continue to focus in its three business segments viz. Inorganic Intermediates, Organic Intermediates and Fine & Speciality Chemicals.
JK Industries forfeits equity shares
BSE has informed the members of the exchange that JK Industries Ltd have been forfeited 24,888 Equity shares due to non-payment of allotment/call monies.
Phil Corporation Board to consider merger of Gokhatak Ent with the Co
Phil Corporation Ltd has informed BSE that a meeting of the Board of the Company is scheduled to be held on September 29, 2002 to consider inter alia the merger of Gokhatak Enterprises Ltd (GEL) a 100% subsidiary of the Company with the PHIL Corporation Ltd.
Alastair Ferguson nominated as Director of Castrol India
Castrol India Ltd has informed BSE that Castrol Ltd, UK (Parent Company) has pursuant to Article 112 of the Articles of Association nominated Mr Alastair Ferguson as a director of the company.
In terms of the said Article, the appointment takes effect from the date the said nomination is received by the company. As the nomination was received by the Company on September 19, 2002, his nomination takes effect from the said date.
P R Balasubramanian assumes charge as CMD of Fertilisers & Chemicals Travancore
Fertilisers & Chemicals Travancore Ltd has informed BSE that pursuant to Order of the Government of India, Ministry of Chemicals & Fertilisers, Department of Fertilisers, Shri P R Balasubramanian, has assumed charge of the post of Chairman and Managing Director, of the company.
Skol Breweries Board approves preferential issue of shares to Shaw Wallace Breweries
Skol Breweries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 20, 2002 has decided:
1. To make preferential Issue of equity shares of Rs 10 each of the Company to Shaw Wallace Breweries Ltd, the holding company as per the SEBI guidelines in that regard.
2. To file an application with the Mumbai High Court for approval of a Scheme of Arrangement with the Equity Shareholders of the Company pursuant to provisions of Section 391 to 394 read with Section 100 and all other applicable provisions, if any, of the Companies Act, 1956.
Bank of Rajasthan Board defers declaration of interim dividend
Bank of Rajasthan Ltd has informed BSE that the approval from Reserve Bank of India is yet to be received and after considering the position the Board of Directors in their meeting held on September 21, 2002 have deferred declaration of interim dividend to the next Board Meeting.
Shamken Spinners Board recommends dividend @ 5% for FY-02
Shamken Spinners Ltd has informed BSE that the Board of Directors in their meeting held on September 21, 2002 have recommended the payment of dividend @ 5% (Re 0.50 per share) on the equity share capital of the company for the year 2001-2002.
Oriental Hotels Ltd has informed BSE that at the Board Meeting, the Board of Directors inter-alia considered the proposal of amalgamation of Orient Holdings Ltd and Fishcove Leasing and Investments Ltd (the wholly owned subsidiaries of the Company) and approved the same subject to statutory approvals.
Hindustan Foods members approve preferential allotment of shares to Dempo & Co
Hindustan Foods Ltd has informed BSE that in the AGM of the Members of the Company as on date in addition to Ordinary Business the Special resolution in respect of preferential allotment to M/s V S Dempo & Co Pvt. Ltd upto Rs 3 million Equity Shares of the Company at par was passed unanimously on show of hands.
Jindal Vijayanagar Steel annuls forfeiture of 3000 equity shares
BSE has informed the Members of the Exchange that Jindal Vijayanagar Steel Ltd has annulled the forfeiture of 3000 equity shares which were earlier forfeited by the Company due to non payment of allotment/call monies.
Hence the above mentioned annulled shares will be good delivery in the market.
Ginni Filaments Board approves setting up a project in Gujarat
Ginni Filaments Ltd has informed BSE that the Board of Directors of the Company at its meeting held on Saturday has approved to set up a project for manufacture of Non-woven Fabrics in the state of Gujarat at an estimated project cost of Rs 1070 million.
J K Industries clarifies on news item
With reference to a news item appearing in a leading financial daily, J K Industries Ltd has informed BSE that J K Drugs & Pharmaceuticals Ltd (wholly owned subsidiary) has manufacturing facilities at Gajraula in the State of Uttar Pradesh for bulk drugs and formulations.
The company has been looking at various restructuring options including merger/demerger and disinvestment partially or wholly of its businesses. In this connection it is discussing the matter with some Pharmaceutical Companies including Teva Pharmaceuticals, Israel.
Vysya Bank to seek RBI approval for appointment of MD and part time Chairman
Vysya Bank Ltd has informed BSE that the proposal of the Board of Directors of the Bank for appointment of Sri Bart Hellemans as Managing Director and Sri G Mallikarjuna Rao as part time Chairman of the Bank and the terms and conditions of their appointment has been submitted to RBI for its prior approval as required under the provisions of the Banking Regulation Act, 1949. Appointment will be effected only upon RBI's approval.
Cosmo Films implements merger of Gujarat Propack with the Co , issues shares as per the Scheme
Cosmo Films Ltd has informed BSE that pursuant to the Order dated August 19, 2002 of Hon'ble High Court of Delhi and order dated July 17, 2002 of Hon'ble High Court of Gujarat at Ahmedabad, M/s Gujarat Propack Ltd has been merged with Cosmo Films Ltd in terms of the Scheme of Amalgamation. Consequently:
1. All the properties, rights and powers of Gujarat Propack Ltd have been transferred to and vested with Cosmo Films Ltd without any further act and deed;
2. All the liabilities and duties of Gujarat Propack Ltd have been transferred without further act or deed to Cosmo Films Ltd and accordingly becomes the liabilities and duties of Cosmo Films Ltd;
3. All proceeding now pending by or against Gujarat Propack Ltd shall be continue by or against Cosmo Films Ltd;
4. In terms of the Scheme, Gujarat Propack Ltd is dissolved without the process of winding up.
The board of directors at its meeting held on September 20, 2002 have taken on record the merger of Gujarat Propack Ltd with the company.
Appointed date for the Scheme of Amalgamation is April 01, 2002.
The company has issued 242051 number of shares in lieu of 484101 number of shares of Gujarat Propack Ltd in terms of the said Scheme of Amalgamation in the ratio of one equity share of Cosmo Films for every two equity shares of Gujarat Propack Ltd. The balance 7309979 number of shares held by the Company have been canceled as per the Scheme of amalgamation.
The board has fixed October 25, 2002 as record date for allotment of shares.
HCL Tech elevates S Raman, COO, to the board of directors
HCL Technologies Ltd announced the elevation of S Raman, Chief Operating Officer to the HCL Tech Board of Directors. Mr Raman will be the Company's Chief Operating Officer and President Core Software & Technology Services, with effect from October 01, 2002.
As one of the Founders of the HCL Group and a key contributor to HCL's consistent success in technology anticipation, Mr Raman has been responsible for pioneering several path-breaking initiatives at HCL.
Guide by his expertise and vision, HCL has been able to successfully modify and transfer hardware manufacturing standards to the software industry, bringing in 'cost control', 'quality' rigors and 'time to deliver' parameters.
Silverline Technologies, Inc announces Cognizant's offer to purchase certain assets of one of its Business Units
Silverline Technologies Ltd has informed to BSE that a subsidiary of Silverline Technologies Limited (NYSE:SLT and BSE: SLVR), a global IT services provider, announced on September 20, 2002 that it has received an offer from Cognizant Technology Solutions US Corporation to acquire certain assets of a business unit of Silverline Technologies Inc. that provides information technology services to a fortune 100 financial services company. This business unit was acquired as part of the acquisition of SeraNova, Inc, an eBusiness consulting services company that was acquired by Silverline in March 2001.
Cognizant's proposal is non-binding and is subject to, among other things, satisfactory completion of due diligence, negotiation and execution of mutually satisfactory definitive agreements and the approval of Cognizant's Board of Directors. The proposed transaction is part of Silverline's overall financial restructuring plan.
