Grasim Industries at the fag end of trading session on Tuesday, 24 December 2013 said that the operations of the company's chemical plant at Vilayat in Gujarat have resumed. The company has also commenced the operations of the downstream Epoxy Plant at Vilayat. The full capacity at both these plants will be achieved in a phased manner, Grasim said. The company had announced on 7 October 2013 that operations of the company's chemical plant were suspended due to unexpected floods affecting the plant/power supply.
HDFC Bank after market hours on Tuesday, 24 December 2013 said that the board of directors of the bank at its meeting held on Tuesday, 24 December 2013, has appointed Mr. Paresh Sukthankar as the Deputy Managing Director of the bank for a period of 3 years from 24 December 2013 to 23 December 2016 subject to the approval of the shareholders and Reserve Bank of India. Mr. Sukthankar currently holds 6.87 lakh equity shares of the bank, HDFC Bank said.
HDFC Bank also said that it has appointed Mr. Kaizad Bharucha as an Additional Director and as an Executive Director of the bank for a period of 3 years from 24 December 2013 to 23 December 2016 subject to the approval of the shareholders and Reserve Bank of India. Mr. Bharucha currently holds 7.66 lakh equity shares of the bank, HDFC Bank said.
Amtek India after market hours on Tuesday, 24 December 2013 said that the company has entered into an agreement to acquire substantial business interests of Germany based Kuepper Group, through its 100% subsidiaries. The Kuepper Group is engaged in the business of iron and aluminium casting and integrated machining having 5 manufacturing units across Germany and Hungary. The transaction closing is subject to fulfillment of certain conditions, Amtek India said.
Gandhi Special Tubes on Tuesday, 24 December 2013 said it has received direction from Gujarat Pollution Control Board (GPCB) to stop the production within 48 hours of receipt of the notice (as our plant was in continuous process) on account of minor water pollution problem. In this regard the company is taking immediate steps to rectify the water pollution problem at the earliest, Gandhi Special Tubes said. However the company is pleased to inform that even before receiving the notice the company had already planned necessary steps for maintenance of its plant and machinery from 26 December 2013, it added. Therefore the company will not suffer on account of the stoppage in production, it said. The company has already executed the required orders, it added. Further on account of slowdown in the automobile industry, the schedule of book order will not be affected, the company said.
Welspun Projects after market hours on Tuesday, 24 December 2013 said that in order to consolidate the shareholding in Leighton Welspun Contractors (LWIN), the board of directors of the company at its meeting held on Tuesday, 24 December 2013, decided to transfer 1.15 crore equity shares of Rs 10 each owned by the company, comprising of 7.5% of issued, subscribed and paid up share capital of LWIN to its associate company on mutually agreed terms, subject to requisite approvals. Further it has been decided to assign the agreement to sell and adjustment agreement both dated 5 March 2013 entered into with LWIN, along with the obligation to the said associate company. The net cash consideration receivable post the completion of transaction is Rs 81 crore, Welspun Projects said.
IL&FS Transportation Networks on Tuesday, 24 December 2013 said that the Committee of Directors approved the allotment of 12.64 crore rated listed fully paid-up cumulative non-convertible compulsorily redeemable preference shares (CNCRPS) of Rs 10 each at a premium of Rs 10 per share on a private placement basis on 23 December 2013. The aforesaid CNCRPS were listed on the BSE effective from Tuesday, 24 December 2013. The company had already issued 20 crore unrated, unlisted fully paid up cumulative redeemable preference shares of Rs 10 each at a premium of Rs 10 per share on a private placement basis on 26 September 2013. With the aforesaid allotment the company has issued 32.64 crore preference shares of Rs 10 each as of date, IL&FS Transportation Networks said.
Ashiana Housing on Tuesday, 24 December 2013 said that a lease deed/patta has been issued by the Urban Improvement Trust, Bhiwadi (Rajasthan) in favour of Ashiana Housing for a land parcel admeasuring 19,958.68 sq. mtr. situated in village Rampura, Bhiwadi, District Alwar (Rajasthan). This land will be utilized to develop Comfort Homes with a total saleable area of approximately 4.5 lakh sq. ft, the company said. Other approvals to launch the project are in the process, it added.
Flexituff International on Tuesday, 24 December 2013 said that pursuant to the approval received from the shareholders of the company at the Extraordinary General Meeting held on Monday, 23 December 2013 and the decision of the Issue Management Committee (constituted in this regard), it has decided to open the FCCB issue for subscription on 24 December 2014, which day shall be reckoned as the relevant date for the purposes of price determination under applicable law, and to allot the FCCBs to the proposed allottee (s) after the receipt of the requisite loan registration number from the RBI. The Issue Management Committee also took note and approved drafts of the documents in relation to the issue of FCCB, the company said. Flexituff International said it expects to raise up to $9 million from this offering at a conversion price of Rs 230 per share.
Mercator after market hours on Tuesday, 24 December 2013 said that its board of directors will meet on 30 December 2013, inter alia, to consider and approve issue of equity shares or any other securities convertible into or carrying right to acquire equity shares; in India and/or in abroad.
Trident on Tuesday, 24 December 2013 said that court convened meeting of the equity shareholders of the company scheduled to be held on 25 January 2014 in the matter of proposed amalgamation of Trident Corporation with the company.
CTIL's board of directors at a meeting held on Tuesday, 24 December 2013, considered the exercise of conversion options allotted to promoters and promoter group for 30 lakh convertible equity share warrants of Rs 10 each at a premium of Rs 6.50 per warrant. Out of 30 lakh convertible equity share warrants only 29.27 lakh warrant holders paid the full allotment money of Rs 16.50 per share warrant. The company's board of directors has therefore allotted 29.27 lakh equity shares of the face value of Rs 10 per equity share to the holders of 29.27 lakh convertible equity share warrants, the company said.
Accentia Technologies on Tuesday, 24 December 2013 said its board of directors will meet on 31 December 2013, inter alia, to discuss and consider about the various funding options for the company.
Info Edge (India) on Tuesday, 24 December 2013 said that Mr. Sanjeev Bikhchandani, Founder Promoter & Managing Director of the company, has transferred 11,600 shares (face value of Rs 10 each) from his personal shareholding to employees of the company.
Premier Explosives on Tuesday, 24 December 2013 said that the meeting of the preferential allotment committee of its board of directors was held on 24 December 2013. However, the agenda could not be completed and the meeting was adjourned to the 27 December 2013.
Genus Power Infrastructures on Tuesday, 24 December 2013 said that pursuant to the Scheme of Arrangement (Scheme) among Genus Paper Products, Genus Power Infrastructures and Genus Paper and Boards, as approved by the High Court of Judicature at Allahabad, a meeting of the Restructuring Committee of the company will be held on Friday, 27 December 2013 at 11:00 IST, to fix the record date for determining the shareholders of the company (i.e. Genus Power Infrastructure's), who would be eligible to receive shares of Genus Paper & Boards.
Shilpi Cable Technologies on Tuesday, 24 December 2013 said that its board of directors will meet on Friday, 27 December 2013, inter alia, to consider further issue of equity shares or any other securities on preferential basis and to fixed the date of extra ordinary general meeting of shareholders of the company to obtain their approval for the same.
EMCO on Tuesday, 24 December 2013 said it has made the redemption of third and final tranche of 12.5% 500 secured non - convertible debentures (NCD) of face value of Rs 3,33,334 (including part thereof) each along with interest due thereon. The record date for the redemption of said NCD and payment of interest thereon was on 23 December 2013, the company said.
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