Corporate nNews

State Trading Corporation members sanctions final dividend
State Trading Corporation of India Ltd has informed that the shareholders at the Annual General Meeting (AGM) of the Company held on September 19, 2006, have approved a final dividend of 35% on the paid up equity share capital of the Company.
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Asian Tea inks an export order to Kazakhstan
Asian Tea & Exports Ltd has signed an export order exceeding 2.0 million US Dollars for export of tea to Kazakhstan. Further orders of 2.5 million US Dollars are in the pipeline and will be finalized soon
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JK Lakshmi appoints P Narasimharamulu as Nominee Director
JK Lakshmi Cement Ltd has informed that ICICI Bank has appointed Shri. P Narasimharamulu, as its Nominee Director with effect from September 06, 2006, on the Board of the Company in place of Shri. U Mahesh Rao, whose nomination has been withdrawn from the said date.
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Mapro Industries nominates Saket Tiku as new Director
Mapro Industries Ltd has appointed Mr. Saket Tiku as new Director on the Board of the Company w.e.f. September 01, 2006.

Further the Company has informed that, Mr. Ashit Doshi has resigned from the Board of the Company w.e.f. September 08, 2006.
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Rayban Sun appoints Additional Director
Rayban Sun Optics India Ltd has informed that the Board of Directors of the Company at its meeting held on September 13, 2006 has appointed Mr. P K Kaul as Additional Director of the Company.
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Patel Engineering declares 30% final dividend
Patel Engineering Ltd has informed that the members at the 57th Annual General Meeting (AGM) of the Company held on September 18, 2006 have declared a final dividend of 30%. With the final dividend, the total dividend for FY 2005-2006 stood at 130% compared to 100% dividend declared last year.
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Wanbury members approve re-appointment of Statutory Auditor
Wanbury Ltd has informed that the members at the 18th Annual General Meeting (AGM) of the Company held on September 19, 2006, inter alia, have accorded to the following:

1. Annual Accounts for the year ended as on March 31, 2006.

2. Final Dividend at the rate 15%.

3. Re-appointment of Dr. P L Tiwari as Director.

4. Re-appointment M/s. Kapoor & Parekh Associates, Chartered Accountant, Mumbai as Statutory Auditor of the Company.
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Suryajyoti to set up specialty bottom weight fabric weaving dyeing & finishing plant
Suryajyoti Spinning Mills Ltd has announced that it will set up India first specialty bottom weight fabric weaving dyeing and finishing plant in technical collaboration with an Italian Company. The Italian Company has significant experience in this industry and has beer servicing the requirement of many major global fashion Labels over several years.

The Company will look to consolidate existing relationships and establish a robust infrastructure to deliver Italian quality at Indian prices. The Italian Company has been selling to such discerning high-fashion Italian and global brands as Dolce & Gabbana, Marlboroa Classics, Versace, Giorgio Armani, Diesel and Reply, among others.

The bottom weight fabric initiative will be structured as a strategic business unit.

Commenting on the alliance, Mr. A K Agarwal, Executive Director of the Company, said: The specialty bottom weight fabric initiative is expected to transition its business to a global level and its association is with an Italian enterprise will provide high fashion / low cost options to some of the best known designer brands in the world. Its collaborators have maintained deep relationships with several leading European fashion houses over many years. This, and other yarn expansion and modernization programs already underway, will add substantial value to all its stakeholders over the next few years.
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Kalyani Forge members sanction Payment of dividend
Kalyani Forge Ltd has informed that the members at the 27th Annual General Meeting (AGM) of the Company held on September 12, 2006, inter alia, have accorded to the following:

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

2. Payment of dividend at the rate of Rs 2.20 per share on equity shares of the company for the year ended March 31, 2006.

3. Re-appointment of Mr Umesh R Lahoti & Mr D C Agashe as Directors of the Company.

4. Re-appointment of M/s Dalal & Shah, Chartered Accountants, Mumbai, as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting, on remuneration, terms & condition.

5. Payment & distribution of a commission on the net profit of the company calculated in accordance with the provisions of sections 198, 349 & 351 of the Companies Act, 1956, amongst the Non-executive Directors of the company or any one or more of the them in such proportion and in such manner and in all respects as may be decided by the Board of Directors from time to time, for five financial years commencing from April 01, 2006.
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Dabur India members sanction special resolution
Dabur India Ltd has informed that the members of the Company by way of postal ballot have passed the special resolution with requisite majority regarding granted to issue, offer and allot pursuant to International / domestic offerings in one or more foreign markets, Equity Shares, Foreign Currency Convertible Bonds (FCCBs), Bonds, Global Depository Receipts (GDRs), American Depository Receipts (ADRs), or any other instrument (Issuable Securities) and / or to sponsor the issue of Global Depository Receipts or American Depository Receipts, or any other instrument representing the sale of shares by existing shareholders (Securities) secured or unsecured, in the aggregate / equivalent not exceeding United States Dollars 200 Millions or equivalent amount in one or more currency In International offerings by way of public Issue, rights issue, reservation on competitive basis, reservation on firm allotment basis, private placement, preferential allotment basis, etc. along with an option being provided in case of GDR / ADR to the Lead Manager to cover green shoe options, subject to necessary provisions & Approvals.
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SRG Infotec Board Meeting updates
SRG Infotec Ltd has informed that the Board of Directors of the Company at its meeting held on held on September 12, 2006 has changed the registered office of the Company from Babar Road, Bengali Market, New Delhi to Shashi Building, Asaf Ali Road, New Delhi w.e.f. September 12, 2006.
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Vipul Board to consider issue of bonus shares
Vipul Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 27, 2006, inter alia, to consider the following business:

1. Issue of bonus shares and / or sub-division of equity shares.

2. Increase In authorized capital.

3. Issue of shares on preferential basis and

4. Issue of shares under Employee Stock Options Scheme.
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UTI Bank allots equity shares under ESOP
UTI Bank Ltd has informed that the Committee of Directors of the Bank on September 19, 2006, has made the allotment of 1,35,278 equity shares of Rs 10/- each to the employees of the Bank, under ESOP.

The paid up share capital of the Bank will accordingly get increased to 28,05,13,806 equity shares from 28,03,78,528 equity shares.
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Jindal Hotels to hold Board Meeting on Sep 26
Jindal Hotels Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 26, 2006, inter alia, to transact the following business:

1. To consider month wise sales from April 2006 onwards of the Company.

2. To consider to approve Statement in Lieu of Advertisement.

3. To consider Unpaid Statutory Liability, if any, of the Company.
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Spice Board Meeting updates
Spice Ltd has informed that at the meeting of the Board of Directors of the Company held on September 08, 2006, Omnia Investments Pvt Ltd (Omnia), one of the Group Companies, has been declared as Promoter of the Company pursuant to the financial and operational group restructuring.

Hence, the following are now the Promoters of the Company:

1. MCorpGlobal Pvt Ltd
2. Omnia Investments Pvt Ltd
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Jindal Hotels members to consider issue of shares on Right Basis
Jindal Hotels Ltd has informed that the 21st Annual General Meeting (AGM) of the members of the Company will be held on September 26, 2006, inter alia, for considering matter of Annual Accounts for F.Y. 2005-06, Payment of Dividend, Issue of further Shares on Right Basis.
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Amar Remedies to hold Board Meeting on Sep 23
Amar Remedies Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 23, 2006, to discuss the following:

1. To consider and approve audited financial results for the year ended as on June 30, 2006.

2. To review progress & status of Companys factory at Surat.

3. To review progress & status of Companys Project at Dehradun, Uttaranchal.
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Jindal Poly Films members approve declaration of 20% dividend
Jindal Poly Films Ltd has informed that the members at the 32nd Annual General Meeting (AGM) of the Company held on September 08, 2006, inter alia, have accorded to the following:

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

2. Payment of dividend on 2% Redeemable Cumulative Preference Shares (Series I) for the financial year 2005-06.

3. Declaration of 20% dividend on Equity shares for financial year 2006-2006.

4. Appointment of Sh. S J Khaitan & Sh. J Bansal as Directors of the Company, liable to retire by rotation.

5. Appointment of M/s Kanodia Sanyal & Associates, Chartered Accountants, as Statutory Auditors of the Company, on remuneration, terms & condition.

6. Appointment of Mr S Bansal & Mr S Singhal as Directors of the Company liable to retire by rotation.

7. Appointment of Mr S Singhal as Whole-Time Director of the Company designated as Chief Operating Officer (COO) for a period of 5 years w.e.f. August 01, 2006 on remuneration, terms & condition
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Phoenix Mills members approve appointment of Statutory Auditors
Phoenix Mills Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on September 16, 2006, inter alia, have accorded to the following:

1. Approval of the Audited Statement of Accounts for the year ended March 31, 2006 and Balance Sheet as on that date alongwith the Reports of Directors and Auditors thereon.

2. Declaration of Dividend on Equity Shares @ 20%.

3. Re-appointment of Shri Pramod Rawool, Shri Awl Ruia & Smt Madhumati Ruia as Directors of the Company.

4. Appointment of M/s A M Ghelani & Co., Chartered Accountants as Statutory Auditors of the Company to hold office from the conclusion of the Annual General Meeting until the conclusion of next Annual General Meeting.

5. Appointment of Shri Pankaj Sharma, Shri Amitkmar Dabriwala, Shri Rajkumar Bidawatka & Shri Suhail Nathani as Directors of the Company.

6. Re-appointment of Shri Pramod Rawool as a Whole-time Director of the Company.
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BSL members sanction re-appointment of Directors
BSL Ltd has informed that the members at the 35th Annual General Meeting (AGM) of the Company held on September 14, 2006, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet and the Profit & Loss Account of the Company for the year ended on March 31, 2006 and report of Directors and Auditors thereon.

2. Declaration of dividend @ 10% on Equity Shares of the Company for the year ended March 31, 2006.

3. Re-appointment of Shri. Ravi Jhunjhunwala, Shri. Shekhar Agarwal and Shri. B D Mundhra as Directors of the Company.

4. Re-appointment of M/s. A L Chechani & Company, Chartered Accountants, as Statutory Auditors of the Company to hold the office till the conclusion of next Annual General Meeting of the Company on remuneration, terms and conditions.

5. Appointment of Shri. Sushil Kumar Churiwala, as Director of the Company liable to retire by rotation.

6. Authority to the Board to borrow any sum or sums of money from time to time at their discretion, for the purpose of the business of the Company, from any one or more Banks, Financial Institutions and other persons, firms, bodies corporate, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from the Company''s Bankers in the ordinary course of business) may, at any time, exceed upto a sum of Rs 250 crore over and above the aggregate of the then paid up capital of the Company and its free-reserves (that is resents not set apart for any specific purpose) and that the Board of Directors be and is hereto empowered and authorized to arrange or fix the terms and conditions of all such monies to be borrowed from time to time as to interest, repayment, security or otherwise as they may, in their absolute discretion, think fit, subject to necessary provisions & approvals.
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Avaya Global members approve Special Resolution
Avaya Global Connect Ltd has informed that the members at the 20th Annual General Meeting (AGM) of the Company held on July 31, 2006, have passed a Special Resolution for de-listing the equity shares of the Company from the Ahmedabad Stock Exchange under the Voluntary Delisting Option in terms of the Securities and Exchange Board of India (Delisting of Securities) Guidelines, 2003.
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Aftek Infosys allots equity shares under ESOS
Aftek Infosys Ltd has informed that the Company on September 19, 2006, has allotted 13,794 numbers of equity shares of Rs 2/- each to employees on exercise of stock Options granted under the Aftek Employee Stock Option Scheme 2004 (ESOS). After the said conversion, the paid up share capital of the Company stands increased from Rs 17,32,99,968/- to Rs 17,33,27,556/-.
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Tantia Constructions members approve appointment of independent Directors
Tantia Constructions Ltd has informed that the members at the 41st Annual General Meeting (AGM) of the Company held on September 04, 2006, inter alia, have accorded to the following:

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

2. (i) Declaration dividend to the preference share holder at the rate of Rs 1.05/- per share & (ii) Declaration of dividend at the rate of Re 1/- per share on the Equity Share Capital of the Company for the year ended March 31, 2006.

3. Re-appointment of Sri A K Dokania as Director of the Company.

4. Re-appointment of Sri H S Sinha, as Independent Director of the Company.

5. Re-appointment of M/s S M Bengani & Company, Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

6. Appointment of Sri U S Agarwal, Sri P K Chattaraj & Sri S K Bose as independent Directors of the Company.

7. Authority to the Board 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 (apart from temporary loans obtained from the bankers in the ordinary course of business) exceeds the aggregate of the Paid up Capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total amount which may be borrowed by the Board of Directors shall not exceed Rs 400 crore, subject to necessary provisions & approvals.
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Sahara Housingfina members sanction reappointment of Statutory Auditors
Sahara Housingfina Corporation Ltd has informed that the members at the 15th Annual General Meeting (AGM) of the Company held on September 09, 2006, inter alia, have accorded to the following:

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

2. Re-appointment of Shri. Subrata Roy Sahara and Shri. Brijendra Sahay, as Directors of the Company, liable to retire by rotation.

3. Reappointment of M/s. Chaturvedi & Co., Chartered Accountants, Kolkata, as the Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company on remuneration, terms and conditions.
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KND Engineering members approve re-appointment of V K Dadina as Director
KND Engineering Technologies Ltd has informed that the members at the 23rd Annual General Meeting (AGM) of the Company held on September 15, 2006, inter alia, have accorded to the following:

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

2. Re-appointment of Ms. V K Dadina as Director of the Company.

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