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BHARAT EARTH MOVERS:
The company has informed that His Excellency Mr. Leszek Miller, Prime Minister of Poland, visited the company's Bangalore plant recently where an MoU was concluded between the company and M/s. Bumar Ltd., Poland, for manufacture and supply of diverse defence products with provision for transfer of technology.
The company has informed that it proposes to divest its undertaking comprising pharmaceutical manufacturing facilities (along with moveable and immovable assets) located at Verma, Goa, and the company's entire shareholding in its wholly-owned subsidiary, Glenmark Laboratories Ltd.
The company has informed that it has allotted on January 1, 2003, 10 lakh 11 p.c. cumulative redeemable preference shares of Rs. 100 each aggregating Rs. 10 crore on private placement basis.
HONDA SIEL PRODUCTS:
The company is providing innovative and technology superior power products, unveiling in India, the world's largest offering - Honda Gen-K, the world's quickest genset.
The company has informed that Motorola Computer Group, a part of Motorola, Inc. that is leading the innovation of building blocks for the converged network, Interphase Corporation, an international supplier of next-generation networking technologies, and the company, unveiled the industry's first open-architecture Radio Network Controller solution at 3GSM Congress in Cannes.
The company has informed that UBS Warburg has successfully implemented a cash, current accounting and payment system around FLEXCUBE, the leading banking application suite. The new system called Client Level Asset Servicing, replaces the existing legacy system called Branch Accounting System.
India Forge and Drop Stampings Ltd. (IFDSL) has bought back 1,11,018 equity shares from IDBI at a price of Rs. 12 per share through tender offer. The sale transaction constituted over one per cent of the paid-up capital of IFDSL.
The company's board has decided to increase the authorised share capital and alter the object clause of MOA of the company in order to facilitate the carrying on the business of IT-enabled services, etc. The EGM will be held on March 18 to approve the same.
A meeting of the debenture-holders of the public issue of debentures (1996) has been convened on March 14, 2003, to resolve the issue of redemption and payment of dues on the debentures issued by the company.
The company's board has approved the acquisition of 49 p.c. equity shares of Comsat Max Ltd. held by Comsat Investments Inc., Mauritius, for a purchase consideration of US $7,50,000, subject to the requisite approvals.
The company has informed that Mr. Subhash Ghai, CMD, has acquired 7,400 shares through market purchases on Feb. 14. His holding after this acquisition is 1,22,55,390 shares.
The company has informed that 26 p.c. shareholding in the equity is held by Nadella SA France. With the completion of the acquisition, the Torrington Company and its subsidiary Nadella SA France will become part of Timken Company, USA.
A meeting of the holders of 17 p.c. secured redeemable partly convertible debentures of Rs. 50 each will be held on Feb. 27 to approve, subject to approval from BIFR and/or other statutory authorities all interest accrued and due as on date on principal amount is hereby waived and to consider the mode of redemption of principal amount on debentures as per scheme of rehabilitation.
The company has informed that Citicorp Finance (India) Ltd. has sold 6,04,712 (1.2 p.c.) equity shares of face value of Rs. 5 each in the company on February 19. After this sale, Citicorp holds 7,01,758 (1.4 p.c.) equity shares in the company.
The company has decided to acquire 100 p.c. stake i.e. 4,79,020 equity shares of Rs. 10 each in Siemens Building Technologies Pvt. Ltd., Mumbai, from Siemens Building Technologies AG, Switzerland, for a total consideration of Rs. 4,79,02,000 (i.e. Rs. 100 per share).
The company has entered into an agreement with Sunrise Systems Inc. to offer offshore software development services. Sunrise Systems is a New Jersey, USA-based company established in 1990 and is recognised for core systems integration services which include infrastructure management, database management, custom application development and middleware technologies to provide seamless integration of IT systems across the enterprise.
The company has allotted 56,32,129 equity shares to ICICI Bank Ltd. on conversion right exercised by them.
The company will provide consulting services to Texas Instruments Inc's digital signal processor customers in an effort to accelerate development and drastically reduce time-to-market for customers working on wireline, wireless, audio-speech and video-imaging applications.
SH. DIGVIJAY CEMENT:
The company has informed that the rehabilitation package submitted to the operating agency, under directive of BIFR, is in the process of finalisation.
The company has been awarded the Certificate of Registration for ISO 14001 by British Standard Institutions, UK, in recognition of its compliance of Environment Management System.
The company has announced that its flagship Fraud Management System Ranger went live at the Sri Lankan GSM Operator, MTN Networks.
The company has been declared as 'sick' by BIFR.
The company has informed that during the past several days, the union office bearers and the workmen have been obstructing despatches of both, intermediate and finished goods, and this has continued in spite of repeated appeals by the management, by the Jt. Commissioner of Labour, Chennai, before whom an unsuccessful conciliation meeting took place on Feb. 11. In addition to obstructing despatches, groups of workmen have been leaving their place of work and joining together to heckle supervisors and managers, inspite of repeated appeals to mountain discipline. This has resulted in a drastic fall in production at the company's manufacturing facilities at Hosur. Further, the company has informed that the situation i however normal at the company's facilities located at Dehradun, Goa and Ooty.
- VISAKA INDUSTRIES:
The company is planning to commence trial production at the Midnapore project in West Bengal on February 28 and commercial production shortly thereafter.
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