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Archive for the ‘Company News’ Category

Yogi Sung Won - Board Meeting on Jul 28, 2008

Wednesday, July 23rd, 2008

Yogi Sung Won India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 28, 2008, inter alia, to consider the following:

1. To consider adopt and take on record the Unaudited Financial Results of the Company for the quarter ended on June 30, 2008.

2. To change the name of the Company.

3. To alter the Main object of the Company.

4. To shift the registered office of the Company from Gujarat State to Karnataka State.

5. To consider the Directors’ Report.

6. To consider the date for the Annual General Meeting and Book Closure.

Gabriel India - Outcome of AGM

Wednesday, July 23rd, 2008

Gabriel India Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on July 21, 2008, inter alia, have accorded to the following:

1. Adoption of Annual Account of the Company as on March 31, 2008.

2. Payment of Final Dividend @ 40% i.e. 0.40 per equity share of Rs 1.

3. Re-appointment of Mr. Russi Jal Taraporevala and Ms. Padmini Khare Kaicker as Directors of the Company.

4. Re-appointment of Auditors of the Company i.e. Price Waterhouse & Co., Chartered Accountants, Gurgaon

5. A resolution regarding appointment of Mr. Arvind Walia, as Managing Director of the Company.

6. A resolution regarding appointment of Mr. Prakash Kulkarni, as Executive Chairman of the Company.

7. A resolution regarding appointment of Mr. Rakesh Sachdev and Mr. Deepak Chopra, as Non-Executive Director of the Company.

Lloyds Steel - Outcome of AGM

Wednesday, July 23rd, 2008

Lloyds Steel Industries Ltd has informed BSE that the members at the 38th Annual General Meeting (AGM) of the Company held on July 19, 2008, inter alia, have accorded the following:

1. Adoption of the audited Balance Sheet as at March 31, 2008 and the Profit & Loss Account for the year ended March 31, 2008 and the Reports of the Direct and the Auditors of the Company.

2. Re-appointment of Shri. Mukesh Gupta, as Director of the Company, liable to retire by rotation.

3. Re-appointment of M/s. Todarwal & Todarwal, Chartered Accountants, Mumbai as Auditors of the Company to hold office until the conclusion of the next Annual General Meeting of the Company.

Gammon India - Updates

Wednesday, July 23rd, 2008

With reference to the earlier announcement January 23, 2008 & May 16, 2008 and as approved by the shareholders of the Company, Gammon India Ltd has informed BSE that the ESOP Compensation Committee of the Company at its meeting held on July 19, 2008, has approved granting of balance 5,00,000 (Five Lakhs only) options to the Employees of the Company (including whole-time Directors and Directors) under the GIL Employees Stock Option Scheme - 2007, each option being convertible into one equity share of the Company vesting at a price of Rs 211.15 per share (closing price of the Equity Share - NSE on July 18, 2008), subject to the Securities and Exchange Board of India (Employees Stock Option Scheme) 1999 and the terms of the GIL Employees Stock Option Scheme, 2007. The options will vest based on the criteria and in the manner specified in the Scheme.

Vimal Oil - Outcome of Board Meeting

Wednesday, July 23rd, 2008

Vimal Oil & Foods Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 22, 2008, inter alia, has considered and passed the following resolutions:

1. To call Extra Ordinary General Meeting on August 21, 2008 for the following business:

(a) To consider increase in Authorised Share Capital of the Company from Rs 23 Crore to Rs 33 Crore.

(b) To approve the increase in Borrowing limits upto a sum of Rs 500 Crores.

(C) To approve the change in terms of appointment of Managing Director.

(d) To consider issue of 8% Non-cumulative Irredeemable Preference Shares.

i-flex Solutions - Press Release

Tuesday, July 22nd, 2008

i-flex Solutions Ltd has informed BSE regarding a Press Release dated July 21, 2008 titled “DIB Implements Oracle’s FLEXCUBE”

Press Release:

“Dubai Islamic Bank (DIB) and announced that it has adopted FLEXCUBE Islamic Banking across all its branches and Networks. Oracle’s FLEXCUBE, a revolutionary banking system, will provide more comprehensive solutions covering all areas of banking transactions. It will provide customers with greater flexibility, faster processing and a more personalised service.

As a result of the new system, bank customers can now perform a range of transactions from any of the bank branches irrespective of where their account is lodged. In addition, the bank will be able to provide more customised services, achieve a quicker and more cost-effective launch of future products and lower costs for future products.

“As the world’s first Islamic bank and a leader in the Islamic finance industry, we have strived to maintain our industry leadership through innovative and superior systems and offerings.” said Musabah Al Qaizi, Head of Electronic Banking Service Department. “Our new technical platform is in line with this commitment and will provide a much more personalised and versatile platform for our customers.”

Oracle’s FLEXCUBE is a complete banking product suite covering all areas of banking needs, including retail, corporate and investment banking, and is in line with internationally recognised standards.

Nadeem Bucheri, Head of Information Technology Department said, ‘We have been working on implementing FLEXCUBE for 20 months and we are now pleased to announce that this has been deployed across our entire network. This system empowers us with a comprehensive Islamic banking platform and enables us to offer leading edge Islamic products and services. In addition, it provides us with greater agility for future product development.”

S Sundarajan, Customer Fulfilment, Senior Vice-President, Banking Products, said: “We are very happy that DIB has gone live on FLEXCUBE. Our association with DIB, one of the oldest and most respected Islamic banks, is an acknowledgement of FLEXCUBE’s ability to meet Sharia requirements. We are confident that this implementation will enable DIB to meet the expectations of its customers for Islamic banking products that compare in innovativeness and versatility with the best that conventional banking can offer.”

United Spirits - Updates on Scheme of Amalgamation

Tuesday, July 22nd, 2008

United Spirits Ltd has informed BSE that the Hon’ble High Court of Judicature at Bombay has sanctioned the Scheme of Amalgamation of Shaw Wallace & Company Ltd (”SWC”) and Primo Distributors Pvt Ltd (”Primo”) with Ltd (”the Scheme”) on July 18, 2008 in so far it relates to the amalgamation of Primo with the Company. The Scheme has already been sanctioned by the Hon’ble High Court of Karnataka at Bangalore vide Order dated the May 29, 2008. The Scheme is now pending sanction of the Hon’ble High Court at Calcutta.

Cochin Malabar - Board Meeting on Jul 29, 2008

Tuesday, July 22nd, 2008

Cochin Malabar Estates & Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 29, 2008, inter alia, to transact the following business:

1. Approval of Quarterly results for the first Quarter ending on June 30, 2008 relevant
to financial year 2008-09.

2. To approve Accounts for the financial year ending March 31, 2008 (i.e. 2007-08).

Further the Company has informed that, since the Company is having an accumulated carried forward loss of more than Rs 36 crore, there is no prospect of any dividend being declared.

Surya Roshni - Outcome of Board Meeting

Tuesday, July 22nd, 2008

Surya Roshni Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 21, 2008, inter alia, has approved the following:

1. Enhancement of working capital limits from Rs 265 crores to 325 crores of the Company.

2. Accepted the resignation of Shri. Basu Dev Agarwal, Managing Director of the Company with immediate effect. However, they still be the part of Board.

3. Shri. J P Agarwal, Joint Managing Director of the Company has been re-designated as Managing Director of the Company with immediate effect.

Andhra Bank - Appointment of Director

Tuesday, July 22nd, 2008

Andhra Bank has informed BSE that the Government of India, Ministry of Finance, Department of Financial Services, New Delhi, vide Gazette of India Notification dated July 14, 2008, in exercise of the powers conferred by sub-section 3(h) and (3-A) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, read with sub-Clause (1) of clause 3 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, the Central Government, has nominated Shri. Rajib Sekhar Sahoo, as part-time non-official Director on the Board of for a period of three years with effect from the date of his appointment i.e., July 14, 2008, until further orders.