Burroughs Wellcome appoints S Kalyanasundaram as MD wef January 01, 2003

Burroughs Wellcome India Ltd has informed BSE that at the meeting of the Board of Directors held today (December 18, 2002), Mr S Kalyanasundaram has been appointed as Managing Director of the Company with effect from January 01, 2003. The company has further informed that Mr V Tyagarajan will resign as Director of the Company with effect from January 01, 2003.

Tata Infotech acquires 40 % Equity Stake in Sitel India

Tata Infotech Ltd has informed BSE that it has acquired 40% of the Equity Capital of Sitel India Pvt Ltd, a company engaged in the IT enabled services business (Contact / Call Center Services). Sitel India Pvt Ltd is a 50:50 joint venture with Systems Integrated Telemarketing Netherlands BV (a subsidiary of Sitel Corporation, USA) and the Tata Group.

Mastek allots Equity Shares under ESOP

Mastek Ltd has informed BSE that at the Committee meeting held today (December 18, 2002), allotment of 35,060 Equity Shares was made to the employees of the Company and its subsidiaries under Employees' Stock Option Plan.

Modi Olivetti Board approves Rights Issue

Modi Olivetti Ltd has informed BSE that the Board of Directors at its meeting held on December 13, 2002 has approved to issue shares on Rights basis in the ratio of 1:1 to the existing equity shareholders of the Company at par (Rs 3 per share).

Frederic Faget resigns from the Board of Aventis CropScience

Aventis CropScience Ltd has informed BSE that Mr Frederic Faget has resigned as Director with effect from December 15, 2002.

Bajaj Electricals Board to consider Rights Issue

Bajaj Electricals Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 24, 2002 to consider issue of Rights Shares to the existing Shareholders of the Company.

Golden Carpets Board to consider Preferential Allotment

OTCO International Ltd has informed BSE that it has received approval from Insurance Regulatory & Development Authority (IRDA) to provide on-line training of insurance agents "Insure Academy" software package.

Rallis India members approve Scheme of Amalgamation

Rallis India Ltd has informed BSE that the Equity Shareholders of the Company at the Extraordinary General Meeting held on December 16, 2002 approved the Scheme of Amalgamation of its 5 subsidiaries Rallis Finance and Investments Company Ltd., Rallis Farm Management Services Ltd, Rallis Hybrid Seeds Ltd, Ralchem Ltd and Sankhya Garments Ltd with the Company.

Geometric Software Q3 results on January 09, 2003

Geometric Software Solutions Company Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 09, 2003 to consider and take on record the Unaudited Financial Results of the company for the quarter ending on December 31, 2002 in addition to other items of business.

GlaxoSmithKline Pharma appoints S Kalyanasundaram as MD wef January 01, 2003

GlaxoSmithKline Pharmaceuticals Ltd has informed BSE that at the meeting of the Board of Directors held today (December 18, 2002), Mr S Kalyanasundaram has been appointed as Managing Director of the Company.

Consortex Karl Doelitzsch India Executive Director expires

Consortex Karl Doelitzsch India Ltd has informed BSE that Shri Ravindernath V Kulkarni, Executive Director of the Company Expired on December 04, 2002 in Road Accident.

i-flex opens its first Overseas Software Development Center in Singapore

i-flex solutions Ltd on December 17, 2002 announced the setting up of its first Overseas Development Center in Singapore. This center, located at the International Business Park with state-of-the-art infrastructure, has the capacity to house 100 software developers. The Asia-Pacific Development Center strengthens i-flex's global delivery model through a combination of near-shore and off-shore development locations. This center also forms an integral part of i-flex's strategy for providing Continuity of Business. "We opened our sales and marketing office in Singapore in January 2001 and established our full-fledged subsidiary later in the year. This center now will allow us to serve our customers with a greater flexibility and reinforce our commitment to customers in the region," said Kishore Kapoor, Vice-President, Asia-Pacific Sales, i-flex solutions pte ltd.

Eaton Hydraulics revises Offer price for Vickers Systems International Open Offer

SBI Capital Markets Ltd has informed BSE that the with reference to Open Offer by Eaton Hydraulics Inc (the Acquirer) along with Eaton Corporation (PAC) to the Shareholders of Vickers Systems International Ltd, the Acquirer has revised the Offer Price from Rs 25 per share to Rs 28 per share. The revised price would be payable to all the shareholders, whose shares are accepted by the acquirer, tendered any time during the Offer.

West Herr Automotive Group Inc, USA adopts Logix's Izmocars solution

Logix Microsystems Ltd on December 16, 2002 announced that the West Herr Automotive Group Inc, one of USA's Top 50 Automobile Dealer Group is adopting the new Logix product Izmocars as their Internet business solution. Logix has begun the process of implementing the Izmocars product range in the entire network of 20 dealerships of West Herr Automotive Group Inc located across several cities on the East Coast of the United States. The implementation is likely to be completed by the middle of January 2003.

Pritish Nandy Communications sells music of its forthcoming production-Jhankaar Beats to Crescendo Music

Pritish Nandy Communications Ltd has announced today (December 18, 2002) the sale of the music of its forthcoming production, Jhankaar Beats to Crescendo Music. The film is scheduled for release in the first quarter of 2003.

OTCO International receives IRDA approval for online training of Insurance Agents

OTCO International Ltd has informed BSE that it has received approval from Insurance Regulatory & Development Authority (IRDA) to provide on-line training of insurance agents "Insure Academy" software package.

Arun Jaswantlal appointed as Chairman of Selvas Photographics

Selvas Photographics Ltd has informed BSE that Shri Arun Jaswantlal, Independent Director, is appointed as Chairman in place of Shri Anil Vadilal Choksi, at the meeting of Board of Directors held on December 10, 2002.

Subex Systems bags a contract from Sonatel, Senegal to deploy its FMS-Ranger

Subex Systems Ltd has informed BSE that it has won a contract for the wireline network of the Senegalese carrier, Sonatel, to deploy its Fraud Management Software (FMS), RangerÔ. Sonatel, which has one of the highest penetration rate in sub-Saharan Africa is a wholly owned subsidiary of the Sonatel Group, which has a strategic partnership with France Telecom. It is also the principal telecommunications service provider in Senegal.

Deloitte Touche Tohmatsu recognises Visesh Infosystems as one of the fastest growing IT companies

Visesh Infosystems Ltd has informed BSE that it has been recognized by Deloitte Touche Tohmatsu Asia Pacific Technology Fast 500, as one of the 250 fastest growing IT Companies in Asia-Pacific. The ranked number is 167.

Satyam Computer Services allots shares under Stock Options Plan

Satyam Computer Services Ltd has informed BSE that the Compensation Committee of Directors of the Company approved the allotment of 600 Equity Shares vide its circular resolution dated December 16, 2002 under the Stock Option Plan of the Company.

Mysore Cements Board to consider Preferential Issue

Mysore Cements Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 24, 2002 to consider preferential allotment of Equity Shares / Financial Instruments including Debentures, whether fully or partly convertible, with or without detachable or non-detachable warrants for an aggregate amount not exceeding Rs 50 million to the Industrial Development Bank of India in accordance with the approval of the members at the Annual General Meeting held on September 26, 2002.

Motilal Dengla resigns from the Board of Bhagyodaya Marketing Co

Bhagyodaya Marketing Company Ltd has informed BSE that it has received a letter of resignation dated December 04, 2002 from Mr Motilal Dengla, Director resigning from the position of Director of the company with immediate effect, as he would be unable to attend the Board Meetings.

Thomas Cook India denies News Item

With reference to a News Item published in a leading financial daily titled "Thomas Cook India to set up Offshore Subsidiaries", Thomas Cook India Ltd has informed BSE that it has not finalised any plans so far on entry into Seychelles & Bangladesh.

Court determines Pfizer's patent term extension does not extend to Dr Reddy's Amlodipine Maleate product

Dr. Reddy's Laboratories announced on December 17, 2002 that the United States District Court for the District of New Jersey on December 17, 2002 had dismissed Pfizer's complaint on the grounds that the patent term extension does not cover Dr Reddy's amlodipine maleate product. The Company expects to launch the product in August 2003, upon expiration of Pfizer's pediatric exclusivity and receipt of a final USFDA approval for the Company's NDA. Mr. G V Prasad, CEO of Dr Reddy's said: "The favorable court ruling represents a significant milestone in the execution of our US specialty business strategy. Our key priority is to create an exciting and sustainable pipeline of specialty products and the commercial front end to take these products to market. The specialty business will be a vital link in our transition from a diversified generic pharmaceutical company to a discovery-led global pharmaceutical company." Background information on the litigation: Dr. Reddy's filed a New Drug Application (NDA) for amlodipine maleate under Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act in December 2001. The Company had filed a Paragraph IV Certification on the two Orange Book patents listed for Pfizer's Norvasc® - the '909 and '303 patents. On June 17, 2002, Pfizer notified Dr. Reddy's that it had filed a suit in the Federal Court in New Jersey on one of the two Orange Book patents, the '909 patent. Pfizer did not file a suit on the second patent. Subsequently, Dr Reddy's filed a motion to dismiss Pfizer's complaint, which was decided on December 17, 2002. In October 2002, the U.S. Food and Drug Administration (FDA) had determined the NDA submitted by the Company for Amlodipine Maleate as "Approvable". Final approval of the NDA is contingent upon the successful completion of ongoing discussions with the FDA regarding issues relating to specific chemistry manufacturing controls and product labeling. Pfizer's Norvasc® (amlodipine besylate) is indicated for the treatment of hypertension and angina.

HCL Infosystems Board approves Scheme of Arrangement

HCL Infosystems Ltd has informed BSE that the Board of Directors at its meeting held today (December 18, 2002) has approved the proposal for: 1. Transfer of the Office Automation & Telecommunications business of the Company to its wholly owned subsidiary, HCL Infinet Ltd. 2. Transfer of the Software Services business of the Company (including investments made by the company in overseas subsidiaries) by way of a Demerger to HCL Technologies Ltd. The aforesaid transfers would be implemented through a scheme of arrangement under the Companies Act, 1956. The Board of Directors also approved the draft scheme of arrangement between the Company, HCL Technologies Ltd and HCL Infinet Ltd and their respective shareholders and creditors, and the share entitlement ratio, being the issue of 2 equity shares in HCL Technologies of the face value of Rs 2 each credited as fully paid up for every 9 equity shares of the face value of Rs 10 each held by the shareholders of the Company. This is based on recommendations of two valuers jointly appointed by the Company and HCL Technologies, viz. Price Waterhouse Coopers Pvt Ltd and Bansi S Mehta & Co as being fair and reasonable for the purposes of the demerger. All the above proposals are subject to requisite approvals including those of shareholders, creditors and regulatory authorities and the sanction of the scheme in terms thereof by the High Court of Judicature at Delhi.

BSE imposes Special Margin on Pentium Infotech Ltd

BSE has informed its members that Special Margin in the under mentioned scrip has been imposed as mentioned alongside with effect from today (December 18, 2002). Special margin will be imposed on the basis of member wise gross outstanding purchase or sale position ( Client wise net) as indicated below: Code Name Group Sp. Mrg (%)(Purchases) Sp. Mrg (%)(Sales) 532117 Pentium Infotech Ltd B2 25 25

HCL Tecnologies Board approves transfer of Software Services business of HCL Infosystems to the Company

HCL Technologies Ltd has informed BSE that the Board of Directors at its meeting held today (December 18, 2002) has approved the proposal for transfer of the Software Services business (including investments made in overseas subsidiaries) of HCL Infosystems Ltd to the Company by way of a Demerger in terms of a scheme of arrangement under the Companies Act, 1956. In terms of the above proposal the Board of Directors at the meeting also approved the draft scheme of arrangement between the Company, HCL Infosystems Ltd, HCL Infinet Ltd and their respective shareholders and creditors. The Board of Directors also approved the share entitlement ratio of 2 equity shares of the Company of the face value of Rs 2 credited as fully paid up for every 9 equity shares held by a member in HCL Infosystems for the proposed transfer. The above ratio was based on the recommendations of two valuers appointed by the Company and HCL Infosystems, viz. Price Waterhouse Coopers and Bansi S Mehta & Co, Chartered Accountants, as being fair and reasonable for the purposes of the demerger. The consideration for the transaction would be settled through the issuance of 7.09 million equity shares of the Company to the Shareholders of HCL Infosystems. All the above proposals are subject to requisite approvals including those of shareholders, creditors and any regulatory authorities and the sanction of the scheme in terms thereof by the High Court of Judicature at Delhi. Commenting on the occasion, Shiv Nadar, Chairman, President & CEO of the Company, said "I see this merger as a strategic initiative in business consolidation, leveraging mutual strengths and synergies to greater advantage. The merged entity will be much better equipped to address a wider spectrum of customer requirements as well as capture opportunities in emerging service lines."

Gulshan Dhingra and Others make Open Offer to acquire 17.48 % Equity Share Capital of Kwality Dairy India

Mr Gulshan Dhingra, Mr Krishan Dhingra, Mr Naresh Dhingra and Mr Sanjay Dhingra (Acquirers) are making an offer to acquire 31,80,800 Equity Shares of Rs 10 each representing 17.48 % of the paid up / voting share capital of Kwality Dairy India Ltd (KDIL) at a price of Rs 2 per fully paid up Equity Share payable in cash. As on the date of announcement the acquirers are not holding any Equity Shares in KDIL. The present holding of the promoters / persons having control over the company including their heirs, executors, successors, associates, associate companies, administrators, nominees and legal representatives is 1,53,56,100 fully paid up Equity Shares of Rs 10 each representing 84.37 % of the paid up / voting share capital. Out of the above, acquirers have entered into an acquisition agreement to acquire 1,50,19,200 fully paid up Equity Shares of Rs 10 each of KDIL representing 82.52 % of the paid up / voting capital at a price of Rs 0.50 per fully paid up share. The Offer is not subject to any minimum level of acceptance from shareholders. The Specified date is January 10, 2003. The Date of opening of the offer is February 11, 2003 The Date of closing of the offer is March 12, 2003.

Thomas Cook India denies News Item

With reference to a News Item published in a leading financial daily titled "Thomas Cook India to set up Offshore Subsidiaries", Thomas Cook India Ltd has informed BSE that it has not finalised any plans so far on entry into Seychelles & Bangladesh.

DPIL approves sale of Katalguri Tea Estate

DPIL Ltd has informed BSE that the Board of Directors at its meeting held today (December 18, 2002) has decided to sell, subject to the approval of the Shareholders of the Company and such other approvals as may be required, Katalguri Tea Estate of the Company in Jalpaiguri district of West Bengal on the best available terms.

Jaipur Polyspin CMD expires

Jaipur Polyspin Ltd has informed BSE that Shri Shankar Lal Dhanuka, Chairman and Managing Director of the Company, suddenly demised on December 16, 2002.