Corporate News

Satyam Computer allots equity shares under stock option plans
Satyam Computer Services Ltd has informed that the Compensation Committee of the Directors of the Company has allotted 59,194 equity shares through circular resolution on September 22, 2006 under stock option plans of the Company.

Consequent to the above allotment, the paid up share capital of the Company has gone up from 327,175,443 equity shares of Rs 2/- each aggregating Rs 654,350,886 to 327,234,637 equity shares of Rs 2/- each aggregating Rs 654,469,274.
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IDBI Board Meeting updates
Industrial Development Bank of India Ltd (IDBI) has informed that the Board of Directors of the Bank at its meeting held on September 21, 2006, has considered the draft amalgamation scheme relating to amalgamation of United Western Bank Ltd with the Bank and decided to send its suggestions on the said draft scheme to the Reserve Bank of India.
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Pantaloon Retail Board to consider sub-division of equity shares
Pantaloon Retail India Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 30, 2006, inter alia, to consider and approve the following:

1. The audited financial results for the last Quarter and year ended June 30, 2006.

2. To recommend Dividend.

3. Fix the Book Closure Dates for purpose of dividend to be declared in the ensuing Annual General Meeting.

4. sub-division of equity shares of the Company.
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Pantaloon Retail EGM updates
Pantaloon Retail India Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 22, 2006, inter alia, have accorded to the following:

1. Authority to the Board to issue / offer and allot Equity shares / Convertible securities with or without detachable warrants / Fully convertible debentures / Partly convertible debentures (Securities) for an aggregate issue size not exceeding Rs 260,00,00,000/- to prospective investors whether institutions, incorporated bodies, mutual funds and / or individuals or Qualified Institutional Buyers pursuant to Chapter XIII-A of Securities and Exchange Board of India (Disclosure & Investor Protection) Guidelines, 2000 or otherwise and whether or not such investors are members, promoters, directors or their associates of the Company through public issue(s), Rights Issue(s), private placement(s), Preferential allotment or a combination thereof at such and in one or more tranches, at such price or prices, at a discount or premium to market price or prices in such manner and on such terms and conditions including type of security, rate of Interest etc., as may be decided and deemed appropriate by the Board at the time of such issue or allotment considering the prevailing market conditions and other relevant factors wherever necessary in consultation with the Lead Managers or other intermediaries, subject to necessary provisions & approvals.

2. Authority to the Board to issue and allot 12,12,480 warrants with an option to the Warrant holder(s) to acquire, for every warrant, one fully paid up equity share for Rs 10/- each at a price of Rs 1635/- per warrant aggregating to an issue price of Rs 198,24,04,800/- to the Promoters / Promoter group on a preferential allotment basis, on such terms and conditions and in such manner as the Board may think fit, subject to necessary provisions & approvals.
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National Oxygen members approve declaration of dividend
National Oxygen Ltd has informed that the members at the 31st Annual General Meeting (AGM) of the Company held on September 22, 2006, inter alia, have accorded to the following:

1. Adoption of the Annual Accounts of the Company for the year ended March 31, 2006.

2. Declaration of dividend at 20% to fully paid equity shareholders.

3. Reappointment of Mr P Siva & Mr Anil Kumar Seth, Directors of the Company.

4. Reappointment of M/s Singhi & Co., as auditors of the Company.
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Jai Corp members accord appointment of Gaurav Jain as Executive Director
Jai Corp Ltd has informed that the members at the 21st Annual General Meeting (AGM) of the Company held on August 24, 2006, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2006 and the Profit and Loss Account for the year ended on that date together with the Reports of the Directors and the Auditors thereon.

2. Re-appointment of Shri D K Contractor, Shri S N Chaturvedi & Shri Gaurav Jain, as Directors of the Company.

3. Appointment of M/s Chaturvedi & Shah, Chartered Accountants, Mumbai as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of next Annual General Meeting of the Company on remuneration, terms and conditions.

4. Appointment of Shri Gaurav Jain as Executive Director of the Company with effect from October 01, 2006 upto September 30, 2011 on remuneration, terms and conditions.
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Virinchi Technologies Director quits
Virinchi Technologies Ltd has informed that Shri K S K Prasad has resigned from the Company effective from September 20, 2006.
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Harita Seating members approve declaration of dividend
Harita Seating Systems Ltd has informed that the members at the 10th Annual General Meeting (AGM) of the Company will be held on September 18, 2006, inter alia, have accorded to the following:

1. Adoption of the audited balance sheet as at March 31, 2006 and the profit & loss account of the Company for the year ended on that date, together with the directors report and the auditors report thereon.

2. Declaration of dividend of Rs 4.50 per share on equity share of Rs 10/- each fully paid up for the year ended March 31, 2006.

3. Re-appointment of Mr S I Jaffar Ali as Director of the Company.

4. Re-appointment of Messrs Sundaram & Srinivasan, Chartered Accountants, Chennai, as auditors of the Company to hold office from the conclusion of this meeting till the conclusion of the next annual general meeting of the Company, on remuneration, terms & conditions.

5. Authority to Board for borrowing, from time to time, as it may consider fit, any sum or sums of moneys from any person, whether or not the moneys so borrowed together with the moneys already borrowed by the Company and remaining outstanding at any one time (apart from temporary loans obtained from the Company's bankers in the ordinary course of business) exceed the aggregate of the paid-up capital of the Company and its free reserves that is to say, reserves that are not set apart for any specific purpose provided that the total amount so borrowed and outstanding at any one time (apart from temporary loans obtained from the Company's bankers in the ordinary course of business) shall no exceed Rs 40 crores, subject to necessary provisions and approvals.
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JMT Auto Board Meeting updates
JMT Auto Ltd has informed that the Board of Directors of the Company at its meeting held on September 21, 2006, inter alia, has transacted the following:

1. Approved the Amendment Agreement dated September 18, 2006 entered into between the Company and Bach Ltd for preferential issue of shares.

2. To allot to M/s Bach Ltd, upto 7,00,000 fully paid up equity shares of the Company having a face value of Rs 10/- per equity share at a subscription price of Rs 108.15 per equity share including a premium of Rs 98.15/- per equity share and upto 1,20,000 convertible warrants, each convertible warrant convertible into or providing the holder the option to subscribe to one fully paid-up equity share of a face value of Rs 10/- per equity share (aggregating upto 1,20,000 equity shares at a price of Rs 108.15 per equity share, including a premium of Rs 98.15/- per equity share) which convertible warrants shall be convertible and/or exercisable in one or more tranches within a period of 18 months.

3. Upto 1,80,000 convertible warrants with an option to subscribe to one fully paid up equity share of Rs 10/ each (aggregating upto 1,80,000 equity shares) at a price of Rs 108.15 per equity share for cash, (including a premium of Rs 98.15/- per equity share) on a preferential basis be allotted to the promoters in the following proportion, being the promoter group of the Company:

a. RSD Finance Ltd : 1,40,000 convertible warrants
b. Rajeev Singh Dugal : 40,000 convertible warrants

and which convertible warrants shall be convertible and/or exercisable in one or more tranches within a period of 18 months, in accordance with SEBI (Disclosure & Investor Protection) guidelines, 2000 for preferential issues.

4. To deal with legal matters relating to land Registrations allotment and other matters in connection thereto.
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Borosil Glass members accord re-appointment of B K Kheruka as Director
Borosil Glass Works Ltd has informed that the members at 43rd the Annual General Meeting (AGM) of the Company held on August 25, 2006, inter alia, have also accorded to the following:

1. Re-appointment of Mr B K Kheruka Director of the Company, liable to retire by rotation.

2. Vacancy in the Board of Directors of the Company created by the death of Mr V N Nadkarni, Director liable to retire by rotation at this meeting, be not filled.

3. Appointment of M/s Chaturvedi & Shah, Chartered Accountants, as Auditors of the Company to hold the office from the conclusion of this Annual General Meeting until the conclusion of next Annual General Meeting on remuneration, terms & condition.

4. Authority to Board the creation of such mortgages and charges in addition to existing mortgages and charges created by the Company in such form and manner as the Board may decide on such assets of the Company wherever situate including Company''s rights as Lessee on land and building acquired on lease from Vyline Glass Works Ltd., both present and future, in favour of Indusind Bank Ltd, in such form and manner as may be agreed to by the Board of Directors and the said bank to secure working capital facilities of up to Rs 500 lakhs together with interest, additional interest, liquidated damages, commitment charges, premium on prepayment or on redemption, costs, expenses and all other moneys payable by the Company in terms of the Agreements/Letter of Sanction/Memorandum of Terms and Conditions entered into/to be entered into by the Company in respect of the said working capital facilities, subject to necessary provisions & approvals.

5. Payment of commission on the net profits of the Company to the directors of the Company (Other than Managing Director and Whole Time Director of the Company) as computed in the manner prescribed under Section 198 of the Companies Act, 1956.
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Ashim Investment Board to propose Dividend
Ashim Investment Company Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 29, 2006, inter alia, to consider the following:

1. Approval of Audited Annual Accounts of the Company for the financial year ended June 30, 2006 (15 months).

2. Recommending dividends for the said year on the Equity Shares and 7% Cumulative Redeemable Preference Shares of the Company.
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Supreme Yarns members to consider increase in Authorized Capital
Supreme Yarns Ltd has informed that an Extra-Ordinary General Meeting (EGM) of the shareholders of the Company will be held on October 14, 2006, inter alia, to transact the following:

1. To offer, issue and allot in one or more stages preferential issue of equity shares to promoters or to their relatives / associates or any other instrument as decided by the Board for an aggregate value not exceeding Rs 18 crores and on such terms & conditions as the Board may in its absolute discretion consider fit.

2. Increase the Authorized Capital of the Company from Rs 20 crore to Rs 29 crore and consequential amendments in the Memorandum and Articles of Association of the Company.

3. To change the Registered Office of the Company from Village Kanganwal, Ludhiana to Industrial Area-A, Ludhiana within the state of Punjab with effect from October 19, 2006.

4. To alter the Object Clause III of the Memorandum of Association of the Company by inserting new sub-clause.

5. To borrow from time to time all such sums of money as they may deem requisite for the purpose of the business of the company notwithstanding that moneys to be borrowed together with moneys already borrowed by the company (apart from temporary loans / limits obtained from the company's bankers in the ordinary course of business) will exceed the aggregate of the paid-up capital of the company and its free reserve, that is, to say reserves not so set apart for any specific purpose, provided that the total amount up to which moneys may be borrowed by the Board of directors shall not exceed the aggregate of the paid-up capital and free reserves of the company by more than the sum of Rs 200 crores at any one time.
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GV Films Board Meeting updates
GV Films Ltd has informed that the Board of Directors of the Company at its meeting held on September 22, 2006, has decided to delegate the powers to decide the proposal of assignment of 50% of its Rights in Film Portal and Internet Film Rights to the Committee of Directors.
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Satyam Computer members approve declaration of final dividend
Satyam Computer Services Ltd has informed that the members at the 19th Annual General Meeting (AGM) of the Company held on August 21, 2006, inter alia, have also accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2006 and Profit and Loss Account for the year ended on that date together with the Directors Report and Auditors Report thereon.

2. Declaration of final dividend of 250% on the Paid-up Equity Share Capital of the Company for the financial year 2005-06.

3. Re-appointment of Prof. Krishna G Palepu, as Director of the Company.

4. Appointment of M/s. Price Waterhouse, Chartered Accountants, as Auditors of the Company for the period commencing from the conclusion of this meeting till the conclusion of the next Annual General Meeting on remuneration, terms & conditions.

5. Payment of remuneration to Prof. Krishna G Palepu, non-executive director who holds office of profit as per section 314 of the Companies Act, 1956.

6. Authority to the Board to issue, offer and allot to any one or more or all of the permanent employees and directors of the Company (other than (i) promoter directors and (ii) those directors who hold directly or indirectly more than 10% of the outstanding equity shares of the Company), Restricted Stock Units (RSUs) exercisable into equity shares and / or securities linked to American Depositary Shares (ADSs) at the option of the Company and / or holder of the securities up to 65,00,000 (or such other adjusted figure for any bonus, stock splits or consolidations or other re-organisation of the capital structure of the Company as may be applicable from time to time) of nominal value Rs 2 each under a Associate Stock Option Plan - RSUs to be created by the Company for the benefit of employees, at an exercise price of not less than the face value of the equity shares of the Company, subject to necessary provisions & approvals.
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Indian Hotels shares delists from BgSE
Indian Hotels Company Ltd has informed that the shares of the Company have been delisted from the Bangalore Stock Ltd (BgSE) w.e.f. September 18, 2006.
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Networth Stock declares 5% interim dividend
Networth Stock Broking Ltd has informed that the Board of Directors of the Company at its meeting held on September 22, 2006, has decided to declared Interim dividend @5% to the Shareholders who are on the record on the record date.
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Rapicut Carbides members sanction re-appointment of Auditors
Rapicut Carbides Ltd has informed that the members at the 29th Annual General Meeting (AGM) of the Company held on September 22, 2006, inter alia, have accorded to the following:

1. Adoption of the audited Balance Sheet as at March 31, 2006 and Profit and Loss Account for the year ended March 31, 2006 together with the Report of Directors and of the Auditors thereon.

2. Reappointment of Shri K S Joshi and Shri J C Bhatia as Directors of the Company.

3. Re-appointment of Messrs D N Shukla & Co., Chartered Accountants as Auditors of the Company to hold office from the conclusion the meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration terms & condition.

4. Revision in remuneration payable to Shri J C Bhatia, Managing Director for the remaining period of his tenure of office i.e . upto July 31, 2008.
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Filmcity Media members accord appointment of Additional Directors
Filmcity Media Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on September 21, 2006, inter alia, have accorded to the following:

1. Adopted the Audited Balance Sheet as on March 31, 2006 and the Profit and Loss for the year ended along with the schedules appended thereto.

2. Appointment of Shri Haren J Shah, Shri Deepak Patel and Ms Ruchika Gupta as Additional Directors.

3. To dispose the Building of the Company situated at Juhu, Mumbai.
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Prestige Foods to hold Board Meeting on Sep 30
Prestige Foods Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 30, 2006, inter alia, to transact the following business:

1. To take note on Quarterly unaudited Reports of the company for the quarter ended on June 2006.

2. To apprise the Board for the performance of the company since last Board Meeting.

3. To take note on Statutory Compliance during the last Board Meeting.

4. To discuss the status of BIFR proposal.
 
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Desh Rakshak announces Book Closure
Desh Rakshak Aushdhalaya Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from November 06, 2006 to November 11, 2006 for the purpose of Annual General Meeting of the Company to be held on November 11, 2006.
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Madras Fertilizers AGM updates
Madras Fertilizers Ltd has informed that the AGM of the Company held on September 21, 2006, resolutions concerning the following matters as set out in the in the Notice to the Shareholders dated August 14, 2006 have been approved by the Members of the Company:- (i) Re-appointment of Ms. Swatantra K Sekhon, I.A.S. who retires by rotation. (ii) Re-appointment of Mr. Manoj Kumar, I.A.S. who retires by rotation. (iii) Authorisation to fix remuneration for statutory auditors to be appointed by Comptroller and Auditor General of India for the year 2006-07.
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Phaarmasia gets approval from RoC for extension of conducting AGM
Phaarmasia Ltd has informed that the Company get approval from Registrar of Companies (RoC), Andhra Pradesh, Hyderabad for extension of conducting Annual General Meeting upto November 30, 2006.
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Sujana Universal to hold Board Meeting on Sep 23
Sujana Universal Industries Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 23, 2006, inter alia, to transact the following:

1. Resolution for increase of Authorised Share Capital of the Company from Rs 80 Crores to Rs 110 Crores.

2. Resolution for Issue of Equity Shares / Warrants by way of Preferential Allotment U/S 81 (1A) of the Companies Act, 1956 to the extent of Rs 6.30 Crores consisting of 30,00,000 equity shares of Rs 10/- each and 33,00,000 convertible warrants of Rs 10/- each to the promoters group.

3. Resolution for Issue of Equity Shares by way of issue of GDRs etc. to the extent of USD 15 million.

4. To fix the date, venue for the Extraordinary General Meeting of the Company.
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Khandwala Securities Board sanctions allotment of Equity Shares
Khandwala Securities Ltd has informed that the Board of Directors of the Company at its meeting held on September 21, 2006 has accorded their approval for allotment of Equity Shares on Preferential Basis.
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NRC members approve re-appointment of Directors
NRC Ltd has informed that the shareholders at the 59th Annual General Meeting (AGM) of the Company held on September 22, 2006, inter alia, have accorded to the following:

1. Adoption of the Balance Sheet of the Company as at March 31, 2006 and the Profit and Loss Account for the financial year ended on that date together with the Directors Report and the Auditors Report thereon.

2. Re-appointment of Shri V C Vaidya and Shri Ashok Goenka, as Directors of the Company, liable to retire by rotation.

3. Appointment of M/s Lodha & Co., Chartered Accountants, as Auditors of the Company from the conclusion of the Annual General Meeting until the conclusion of the next Annual General Meeting of the Company on remuneration, terms and conditions.

4. Appointment of Shri T M M Nambiar and Shri Haigreve Khaitan as Directors of the Company, liable to retire by rotation.

5. Declaration of Postal Ballot Results of Special Resolution under Section 372A of the Companies Act, 1956, for widening the scope of investments and in excess of the specified limits, having been passed by more than 3/4 majority.