corporate
Videocon all set to take over Daewoo Electronics
As a part of its global initiative, Videocon Industries is close to snapping up a controlling stake, along with a consortium partner, in Daewoo Electronics Corp, Korea''s third largest electronic goods maker. If the deal goes through, it will be Videocon''s third major acquisition in the last one year, after it took over Thompson''s global picture tube business for about Rs 1,260 crore and Electrolux Kelvinator India, the Indian subsidiary of AB Electrolux of Sweden.
Videocon and its consortium partner, the US-based private equity fund RHJ International, the holding company of the US fund Ripplewood, have breasted the tape as the preferred negotiator to buy a controlling stake of 97.6 per cent in Daewoo Electronics for a reported price of around $700 million. The Videocon consortium became the primary bidder having scored highest points in terms of acquisition price and ability to deliver it. The 97.6 per cent stake in Daewoo is now being held by creditors of the company, including Woori Bank and Korea Asset Management Corp, after it came under a creditor-led debt-restructuring programme, following its insolvent parent, Daewoo Group, being put under a workout programme. The creditors have been seeking to sell the controlling stake since November 2005.
---------------------------
Padmalaya Telefilms announces Book Closure
Padmalaya Telefilms Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 27, 2006 to September 30, 2006 (both days inclusive) for the purpose of 15th Annual General Meeting of the Company to be held on September 30, 2006.
---------------------------
Palsoft Infosystems declares Book Closure
Palsoft Infosystems Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 25, 2006 to September 30, 2006 (both days inclusive) for the purpose of Annual general Meeting of the Company.
---------------------------
SG Global announces Book Closure
SG Global Exports Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 25, 2006 to September 30, 2006 for the purpose of 11th Annual General Meeting of the Company to be held on September 30, 2006.
---------------------------
Sanjay Leasing announces Book Closure
Sanjay Leasing Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 26, 2006 to September 30, 2006 (both days inclusive) for the purpose of Annual General Meeting of the Company to be held on September 30, 2006.
---------------------------
Amex Information to hold AGM on Sep 29
Amex Information Technologies Ltd has informed that the 15th Annual General Meeting (AGM) of the members of the Company will be on September 29, 2006.
---------------------------
Foundry Fuel Products announces Book Closure
Foundry Fuel Products Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 20, 2006 to September 27, 2006 (both days inclusive) for the purpose of 42nd Annual General Meeting of the Company to be held on September 27, 2006
---------------------------
Pioneer Technoparks declares Book Closure
Pioneer Technoparks Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 26, 2006 to September 30, 2006 for the purpose of 12th Annual General Meeting of the Company to be held on September 30, 2006.
---------------------------
Supertex Industries members approve re-appointment of Directors
Supertex Industries Ltd has informed that the members at the 20th Annual General Meeting (AGM) of the Company held on August 19, 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 & Loss account for the financial year ended on that dated, as audited by the Companys auditors, the Audit Report thereon and the Directors Report.
2. Re-appointment of Shri. N N Puri & Shri. V K Mishra as Directors of the Company.
3. Appointment of M/s. M B Agrawal & Company, Chartered Accountants, Mumbai jointly with M/s. N G Thakrar & Company, Chartered Accountants, Mumbai as Auditors of the Company from the conclusion of this meeting until conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.
4. Authority to the Board to borrow moneys (apart from temporary loans obtained from the Company''s bankers in the ordinary course of business) in excess of 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 of such borrowing together with the amount already borrowed and outstanding shall not exceed Rs 70 crores, subject to necessary provisions & approvals.
---------------------------
Ashapura Minechem Board to consider allotment of equity Shares
Ashapura Minechem Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 11, 2006 for allotment of 6,500,000 equity Shares under Qualified Institutional Placement (QIP).
---------------------------
Fourth Generation declares Book Closure
Fourth Generation Information Systems Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 28, 2006 to September 29, 2006 for the purpose of Annual General Meeting of the Company to be held on September 29, 2006 for the financial year 2005-06.
----------------------------
Gufic Biosciences announces Book Closure
Gufic Biosciences Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 22, 2006 to September 28, 2006 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting of the Company to be held on September 28, 2006.
Further the Company has informed that the dividend on the Equity Shares of the Company proposed to be declared at the Annual General Meeting of the Company on September 28, 2006, if approved by the shareholders will be paid on or before October 27, 2006, to those shareholders whose name appears on the register of Members on September 28, 2006.
---------------------------
Gagan Gases declares Book Closure
Gagan Gases Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 27, 2006 to September 30, 2006 for the purpose of Annual General Meeting of the Company to be held on September 30, 2006.
---------------------------
Autolite India announces Book Closure
Autolite India Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 25, 2006 to September 30, 2006 (both days inclusive) for the purpose of Annual General Meeting of the Company.
---------------------------
Noel Agritech announces Book Closure
Noel Agritech Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from September 27, 2006 to September 30, 2006.
---------------------------
Lanco Global Board sanctions increase in Authorized Capital
Lanco Global Systems Ltd has informed that the Board of Directors of the Company at its meeting held on September 08, 2006, inter alia, has decided the following:
1. Increase Authorized Capital of the Company.
2. Issue further securities.
3. Amend the Articles of Association.
4. Make Investments.
5. Fix the date, time and venue of the ensuing Extra-Ordinary General Meeting and approve draft notice.
---------------------------
Phoenix Mills Board Meeting updates
Phoenix Mills Ltd has informed that the Board of Directors of the Company at its meeting held on August 31, 2006, inter alia, has approved the following:
1. Authority to the Board of Directors of the Company to acquire Shares by way of subscription, purchase or otherwise in other Bodies Corporate at an aggregate consideration to the extent of approximately Rs 213 Crores and to give guarantee to the tune of Rs 55 Crores in connection with Bridge Finance facility availed by Classic Mall Development Company Pvt Ltd from IL & FS and approval of the notice for obtaining the consent of the members by means of postal ballot for the aforesaid purpose as required pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001.
2. Authority to Directors to acquire on leave and license basis and to sub-lease the premises at Mahalaxmi, Mumbai.
-------------------------
Shree Rajasthan Syntex equity/preference shareholders & creditors to sanction Scheme of Merger
Shree Rajasthan Syntex Ltd has informed that pursuant to the order of the Honourable High Court, Jodhpur, dated August 29, 2006, separate meetings of equity / preference share holders and secured / unsecured creditors of the Company will be held on October 07, 2006 for the approval of the Scheme of Amalgamation of Shree Rajasthan Texchem Ltd with the Company
-------------------------
Vajra Granites to issue equity shares on preferential basis
Vajra Granites Ltd has informed that an 17th Annual General Meeting (AGM) of the members of the Company will be held on September 27, 2006, to transact the following:
1. To receive, consider and adopt the Audited Profit & Loss Account for the year ended March 31, 2006 and the Balance Sheet as at that date, together with the Directors and Auditors Reports thereon.
2. To appoint a Directors in place of Sri Y Kesava Krishna & Sri Mathesh Reddy Kami Reddy who retire by rotation and being eligible offers themselves for reappointment.
3. To re-appoint the Auditors, M/s I Sudhaker & Co, Chartered Accountants, Hyderabad to hold office from the conclusion of the 17th Annual General Meeting until the conclusion of the 18th Annual General Meeting, on remuneration, terms & conditions.
4. To issue and allot on a preferential basis 19,03,500 fully paid up equity shares of a face value of Rs 10/- each of the Company at a subscription price of Rs 10/- per equity share or at the price calculated as per the prescribed SEBI guidelines in this respect, whichever is higher, to Sri A Hanimi Reddy and L Hanumanth Reddy the Promoter Directors and / or their associate(s) and affiliates.
------------------------------
Shree Global Tradefin appoints Additional Director
Shree Global Tradefin Ltd has informed that Mr. Prashant Kundlik Puri has been appointed as an Additional Director on the Board of the Company with effect from September 05, 2006.
-----------------------------
Ankur Drugs to declare Dividend
Ankur Drugs & Pharma Ltd has informed that the 12th Annual General Meeting (AGM) of the members of the Company will be held on September 30, 2006, inter alia, to transact the following:
1. To receive, consider and adopt the audited Balance Sheet as at March 31, 2006 and the Profit & Loss Account of the company for the year ended on that date along with the reports of the Directors and Auditors thereon.
2. To declare a Dividend.
3. To appoint a Director in place of Mr Dileep H Shinde, who retires by rotation, and being eligible, offers himself for re-appointment.
4. To appoint M/s M G Vashi & Co., Chartered Accountants as auditors of the company to hold office from the conclusion of this Annual General Meeting to the conclusion of next Annual General Meeting and to authorise the Board of Directors to fix their remuneration.
5. To appoint Mr Girraj Vijayvargiya, as an Executive Director.
6. To appoint Manisha Jhaveri as an Independent Director of the Company, eligible to retire by rotation.
------------------------------
