BSE Notices 26-09-2007

September 26th, 2007 | by sharegyan |

    Nava Bharat Ventures    
Nava Bharat Ventures Ltd has informed BSE that pursuant to the notice of conversion of FCCBs in part received from Lehman Brothers International (Europe), for conversion of 60 FCCBs for Japanese Yen 600,000,000 into Equity Shares of the Company, a meeting of the Allotment Committee (Committee of Directors as constituted by the Board) is convened to be held on September 27, 2007 to consider the allotment of 1,877,455 Equity Shares of Rs 2/- each to them on conversion of bonds as above.
Source: BSE    Date: 2007-09-26

    I-Flex Solutions  
i-flex Solutions Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 04, 2007, inter alia, to consider the following: 1. Additional investment in equity capital of i-flex Processing Services Ltd, India, a wholly owned subsidiary of the Company. 2. Additional investment in equity capital of i-flex America Inc., USA, a wholly owned subsidiary of the Company. 3. Allotment of shares to the eligible employees who have chosen to exercise their options under Employees Stock Option Scheme (ESOS) of the Company.
Source: BSE    Date: 2007-09-26

  NCL Industries    
NCL Industries Ltd has informed BSE that the shareholders at the Annual General Meeting (AGM) of the Company held on September 26, 2007, inter alia, have approved the following resolutions: 1. Adoption of the audited Balance Sheet as at March 31, 2007 and the Profit & Loss Account for the year ended on that date and the report of Auditors & Directors thereon. 2. Declaration of Dividend @ 20% for the year ended March 31, 2007 on Equity Shares of Rs 10/- each. 3. Re-appointment of Mr. Vinodrai V Goradia, Mr. K Madhu and Mr. R Anand as Directors of the Company, liable to retire by rotation. 4. Re-appointment of M/s. Prayaga & Co., Chartered Accountants as Auditors of the Company.
Source: BSE    Date: 2007-09-26

   Southern Online Bio Technologies Ltd    
Southern Online Bio Technologies Ltd a meeting of the Board of Directors of the Company will be held on October 05, 2007, inter alia, to consider the following: 1. Fixation of Book Closure Date for AGM. 2. To consider and fix the date, time and venue of the 9th Annual General Meeting of the Company. 3. Approval of Draft Notice convening the AGM and Authorisation to dispatch the same. 4. To consider and recommend the Appointment of Auditors. 5. To consider the preferential issue of Shares and / or warrants to promoters & non-promoters.
Source: BSE    Date: 2007-09-26
           
    Adarsh Derivatives
Adarsh Derivatives Ltd has informed BSE that Mr. Ramesh Chand Jindal, Managing Director of the Company was resigned from the Board and Smt. Bimla Devi Jindal appointed as additional Director and Managing Director of the Company by the Board of Directors in their meeting which is held on August 21, 2007, subject to approval of members in forthcoming Annual General Meeting.
Source: BSE    Date: 2007-09-26

    Virinchi Technologies    
Virinchi Technologies Ltd has informed BSE that the Company would like to clarify on a news item appeared in a leading newspaper with respect to the following item: “This is to clarify that Virinchi Technologies Ltd is yet to get the Share holders approval for the FCCB which was incorrectly mentioned in one of the leading dailies that it has already been approved by the share holders”.
Source: BSE    Date: 2007-09-26

   Silverline Technologies    
Silverline Technologies Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 03, 2007, inter alia, to review the process and progress of the Company and to also take a view of the future course of action as regards to the Business plan as envisaged and garner necessary action for the ensuing FCCB And GDR issue that the Company is planning in the near future.
Source: BSE    Date: 2007-09-26

   Kajaria Ceramics    
Kajaria Ceramics Ltd has informed BSE that the shareholders at the Annual General Meeting (AGM) of the Company held on September 26, 2007, inter alia, have approved the following: 1. Payment of dividend @ 10% per Equity Share on the paid up capital of the Company for the year ended March 31, 2007. 2. Appointment of Sh. D P Bagehi, as Director of the Company. 3. Appointment of Sh. Chetan Kajaria as Whole time Director of the Company w.e.f. July 01, 2007 for a period of 5 years. 4. Re-appointment of Sh. Ashok Kajaria as Chairman & Managing Director of the Company w.e.f. January 01, 2007 for a period of 5 years. 5. Authority to the Board to create, offer, issue and allot from time to time in two trenches up to 1,27,00,000 convertible warrants on a preferential basis to promoters / promoter group of the Company entitling the holder of each warrant to apply for and obtain allotment of one equity share against such warrant in such manner and on such price, terms and conditions as may be determined by the Board in accordance with the SEBI (DIP) Guidelines or other provisions of the law as may be prevailing at the time, provided that the minimum price of warrants so issued shall not be less than the price arrived at in accordance with provisions of Chapter XIII of SEBI (DIP) Guidelines, subject to necessary provisions & approvals.
Source: BSE    Date: 2007-09-26

   EIH    
EIH Ltd has informed BSE about the following: “Mr. P R S Oberoi, Chairman of EIH Ltd (”EIH”) on September 26, 2007 has announced that EIH had decided to terminate its strategic alliance for marketing and co-branding with Hilton International Co (”Hilton”) for the “Trident Hilton” brand in India. Mr. Oberoi advised that EIH had given notice to Hilton of its decision to take effect from March 31, 2008. In consequence, the existing “Trident Holton” hotels in Gurgaon, Agra, Jaipur, Udaipur, Bhubaneshwar, Chennai and Cochin will be rebranded “Trident” hotels effective April 01, 2008. The Hilton Towers in Mumbai will also be rebranded as “Trident Towers” effective April 01, 2008. Mr. Oberoi said that EIH wished to independently pursue the development of its “Trident” brand in India and could not do so and maintain the Hilton alliance at the same time. Mr. Oberoi said: “The outlook for our Trident brand in India is excellent. We are very confident that our Trident Hotels will continue to expand successfully. The Trident in Gurgaon has enjoyed a position of market leadership in Delhi from the day it opened. Our new 440 room Trident located at Bandra Kurla in Mumbai will open in 2008 and is expected to be a market leader in north Mumbai. We have new Trident hotel projects committed at the new International Airport in Bangalore and at the Hitech City, Hyderabad. We have a number of opportunities for new Trident hotels in other cities which we are pursuing.”
Source: BSE    Date: 2007-09-26

Avon Organics    
Avon Organics Ltd has informed BSE that the members at the 14th Annual General Meeting (AGM) of the Company held on September 22, 2007, inter alia, have approved the following: 1. The audited Balance Sheet as at March 31, 2007 and the Profit and Loss Account for the financial year ended March 31, 2007 and the Report of the Directors and Auditors thereon. 2. Appointment of Dr. P M Bhargava & Sri. S Chidambaram as Director who retires by rotation and being eligible, offers themselves for re-appointment. 3. Appointment of M/s. Shyam Sharma & Co as Statutory Auditors of the Company for the year 2007-2008 and to hold office from the conclusion of this Annual General Meeting upto the conclusion of the next Annual General Meeting of the Company and to fix their remuneration.
Source: BSE    Date: 2007-09-26

    Lumax Automotive Systems  
Lumax Automotive Systems Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on September 25, 2007, inter alia, have accorded to the following: 1. Adoption of the Annual Accounts and Reports thereon. 2. Declaration of dividend on equity shares. 3. Re-appointment of Mr. Virender Ganda & Mrs. Kamlesh Jain as Directors of the Company. 4. Re-appointment of M/s. R Jain & Sanjay Associates, as Statutory Auditors of the Company & fix their remuneration. 5. Appointment of Mr. Milan Jain to an office or place of profit pursuant to section 314(1B) of the Companies Act, 1956.
Source: BSE    Date: 2007-09-26

    Lyka Labs    
Lyka Labs Ltd has informed BSE that in the limited review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations: 1. There are differences in the unaudited financial results as “Published” and as “Reviewed” by the Auditors which are as given below: - PUBLISHED : For the Quarter ended June 30, 2007 Other Income: Rs 95.05 lacs Cosumption of Materials: Rs 1297.10 lacs Other Expenditure: Rs 789.67 lacs Profit Before Interest, Depreciation & Taxation: Rs 308.31 lacs Depreciation: Rs 39.35 lacs Profit Before Tax: Rs 174.98 lacs Net Profit after Tax: Rs 171.98 lacs - REVIEWED : For the Quarter ended June 30, 2007 Other Income: Rs 94.30 lacs Consumption of Materials: Rs 1273.67 lacs Other Expenditure: Rs 794.35 lacs Profit Before Interest, Depreciation & Taxation: Rs 326.31 lacs Depreciation: Rs 37.89 lacs Profit Before Tax: Rs 194.44 lacs Net Profit after Tax: Rs 191.44 lacs 2. In the Auditors’ opinion and according to the information and explanations given to them, the Company has generally complied with the provisions of Sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under and the directives issued by the Reserve Bank of India, where applicable, with regard to the deposits accepted from the public; except for Fixed Deposit Receipt being “liquid asset” is marked under lien by the Bank. 3. The investment / loans and advances in / to Companies in excess of the limits prescribed under section 372A(i) and (iii) of the Companies Act, 1956 amounting to Rs 5,32,85,854/- are pending approval of the members at the ensuing Annual General Meeting. Appropriate steps have been initiated by the Company in this regard. 4. The revised managerial remuneration of Rs 6,23,520/- for the period from April 01, 2007 to June 30, 2007 is pending approval of the Central Government. The Company has initiated appropriate steps in this regard. 5.(a) Based on the advise received regarding reckoning the receipt on transfer of marketing information and technical know-how as “capital receipts”, no provision for tax as per Section 115JB of the income Tax Act, 1961 for assessment year 2004-2005 was made. In case the stand taken by the Company is not upheld, there will be an estimated tax liability of Rs 1,28,91,848/-. 5.(b) In view of brought forward business losses and unabsorbed depreciation as per the provisions of the Income Tax Act, 1961, the Company has not recognized the deferred tax assets net of liabilities, in respect of earlier years as well as for the three months ended June 30, 2007, as a matter of prudence, as per Accounting Standard 22 on “Accounting for Taxes on Income”. However, if the Company’s stand of considering the receipt on transfer of marketing information and technical know-how as “capital receipt” is not upheld, the same shall have the impact on quantification of deferred tax, which has not been recognized as mentioned herein. 6. The Company has concluded a One Time Settlement with Bank of Baroda. The Company was liable to pay Rs 13.25/- crores under the said settlement on or before March 31, 2007. Since the Company is in process of negotiating reschedulement of installments with the bank, the interest if any, has not been provided for. 7. Previous has not been made for ex-gratia to employees from April 1999 to June 2007 amounting to Rs 3,67,95,681/-. 8. The Company has not provided for exchange fluctuation loss on GDR funds amounting to Rs 1,35,86,400/- for the quarter ended June 30, 2007. 9. The Company has not provided for depreciation amounting to Rs 33,59,340/- in respect of revalued assets for Land and Building & Plant and Machinery. 10. Share issue expenses amounting to Rs 91,61,542/- represent expenses incurred in connection with issue of Global Depository Receipts, which shall be written off over 5 years commencing from April 01, 2007. The Charge for the quarter ended June, 2007 amounting to Rs 4,58,077/- has not been provided for. 11. The Company has recognized the costs and expenses incurred in connection with research and development as “Deferred Revenue Expenditure” amounting to Rs 1,80,18,423/- up to June 30, 2007 by crediting to the respective costs and expenses. The Auditors are unable to express their opinion as regards whether the costs expenses incurred during the three months ended June 30, 2007 in connection with research and development would meet with the criteria for recognizing the said costs and expenses as deferred revenue expenditure as per the requirements of Accounting Standard 26 on “Intangible Assets”. 12. Unpaid debentures application money received and due for refund, unclaimed matured Debentures, Interest on matured debentures and unclaimed dividend amounting to Rs 51,42,329/- are pending for transfer to the Investor’s Education and Protection Fund as required by Section 205C of the Companies Act, 1956. 13. The confirmation of balances have been requested from some of the Sundry Creditors, some of which have been acknowledged. No such confirmation has been requested from Sundry Debtors after March 31, 2003. Accordingly, Sundry Debtors and majority of the Sundry Creditors balances are subject to adjustments, if any, on reconciliation of the accounts and confirmation by the parties. Further the Auditors states that, because of pervasive and significant effect on the financial statement of the matters described in Note Nos 1 and 7 to 11 to here above, having their impact on the reported results for the quarter ended June 30, 2007 following would be the implications: (a) There would be a profit of Rs 191.44 lacs as against the reported profit of Rs 171.98 lacs for the quarter ended June 30, 2007 and (b) The basic earning per share on PAT would be Rs 1.25 as against the reported basic earning per share on PBT of Rs 1.12 for the quarter ended June 30, 2007.”
Source: BSE    Date: 2007-09-26

    Centurion Bank of Punjab    
Centurion Bank of Punjab Ltd has informed BSE that the Securities Transfer, Allotment and Grievance Redressal Committee of the Board, a Committee duly authorised by the Board of Directors in this behalf, at their meeting held September 26, 2007, has allotted 122,699,000 equity shares of face value of Re 1/- each fully paid up, at an issue price of Rs 40.75 per equity share aggregating to Rs 499.99 crores to the Qualified Institutional Buyers under Chapter XIII-A of the SEBI (Disclosure and Investors Protection) Guidelines 2000 as amended.
Source: BSE    Date: 2007-09-26

    JBM Auto Components    
JBM Auto Ltd has informed BSE that the shareholders at the 11th Annual General Meeting (AGM) of the Company held on September 20, 2007, inter alia, have approved the following: 1. Declaration of dividend @ 20% on 6799227 equity shares of Rs 10/- each. 2. Issue of Bonus Shares in the ratio of 1:2 i.e. One Bonus Share of Rs 10/- each for Two equity shares of Rs 10/- each held. 3. Re-appointment of Mr. H R Saini as Whole Time Director for a period of 5 years w.e.f. June 07, 2007. 4. Increased of Authorised Capital from Rs 8,05,00,000/- dividend into 80,50,000 equity shares of Rs 10/- each to Rs 15,00,00,000 divided into 1,50,00,000 equity shares of Rs 10/- each. 5. Issue of fresh equity shares by way of public issue / right issue / Private equity / ADR / GDR etc.
Source: BSE    Date: 2007-09-26

  Power Finance Corporation    
Power Finance Corporation Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 10, 2007, for considering the un-audited financial results for the quarter ended September 30, 2007 (Q2).
Source: BSE    Date: 2007-09-26

    KS Oils    
KS Oils Ltd has informed BSE that the Company has been awarded with following: 1. SEA AWARD (2006-07) “Highest Processor of Rapeseed Oilcake” by The Solvent Extractors’ Association of India on September 21, 2007. 2. SEA AWARD (2006-07) “Second Highest Exporter of Rapeseed Extraction” by The Solvent Extractors’ Association of India on September 21, 2007. 3. Mr. Ramesh Chand Garg, Chairman of the Company has been declared “Globoil India Man of the Year 2007″.
Source: BSE    Date: 2007-09-26

    Ambuja Cements    
Ambuja Cements Ltd has informed BSE that due to heavy rains in and around plant area at Ambujanagar (Gujarat) resulting in flood, the Company had stopped the operations of both the units at Ambujanagar on September 24, 2007. One unit is being put back in operation on September 26, 2007 while other one will take a few days more. Loss arising out of flood, if any is being estimated, however, the same is fully covered under insurance. All efforts are being made to restore normalcy at the earliest.
Source: BSE    Date: 2007-09-26

    Padam Cotton Yarns    
Padam Cotton Yarns Ltd has informed BSE that the members at the 13th Annual General Meeting (AGM) of the Company held on September 26, 2007, inter alia, have accorded to the following: 1. Adoption of the Balance Sheet as at March 31, 2007 and the Profit & Loss Account for the period ended on that date along with the reports of Auditor’s and Director’s. 2. Re-appointment of Sh. Rajiv Gupta & Sh. Harbhajan Singh as Directors of the Company. 3. Re-appointment of M/s. Viney Goel & Associates, Chartered Accountants, as Auditors of the Company for the year 2007-08 on remuneration, terms & conditions.
Source: BSE    Date: 2007-09-26

    Banco Products (India)    
Banco Products India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 26, 2007, inter alia, has decided the following, subject to approval by the members in the ensuing Extra Ordinary General Meeting and such other approvals, as may be necessary in this regards: 1. To make further issue of Equity Shares to M/s. Japan Metal Gasket Ltd, Japan, through preferential allotment up to 678208 Equity Shares of Rs 10/- each at an issue price of Rs 150/- per share which is in compliance with SEBI Guidelines for Preferential Issue, and such other approvals as may be necessary in this regard. 2. To increase in the Authorised Share capital of the Company to Rs 30/- crores. 3. To sub-divide the face value of the Equity Shares of the Company into face value of Rs 2/- per share. 4. To alter the Articles of Association. 5. To convene Extra-Ordinary General Meeting of the members of the Company on October 26, 2007.
Source: BSE    Date: 2007-09-26

    Opto Circuits India    
Opto Circuits India Ltd has informed BSE that October 26, 2007 has been fixed as the Record Date for the purpose of issue of bonus shares in the Ratio of 1:2 (one Bonus share for every Two Equity shares held).
Source: BSE    Date: 2007-09-26

  Opto Circuits India    
Opto Circuits India Ltd has informed BSE that the shareholders at the Annual General Meeting (AGM) of the Company held on September 25, 2007, inter alia, have approved the following: 1. Adoption of Audited Financial Results for the year ended March 31, 2007, along with the Reports of the Directors and Auditors thereon. 2. Payment of dividend @ 50%. 3. Re-appointment of Mr. Vinod Ramnani, Mr. Usha Ramani & Mr. Jayesh Patel as Directors. 4. Appointment of M/s. Anand Shenoy and Company, Chartered Accountants as Statutory Auditors. 5. Appointment of Mr. William Walter O’Neill MD as Director of the Company. 6. Increase in the Authorised capital from Rs 65.00 crores to Rs 100.00 crores. 7. Consequent Amendment of Memorandum and articles of Association. 8. Issue of Bonus shares - 1 Bonus Shares for every 2 fully paid shares.
Source: BSE    Date: 2007-09-26

   IndiaNivesh    
IndiaNivesh Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 25, 2007 has accorded to the issue of 150 Secured, Redeemable, Non-Convertible Debentures of Rs 10,00,000/- each with a green shoe option of 50 bonds to be raised in one or more tranches (each a “Series”) aggregating to Rs 15,00,00,000/- (Green shoe aggregating to Rs 5,00,00,000/-) on Private Placement basis.
Source: BSE    Date: 2007-09-26

   Amara Raja Batteries    
Amara Raja Batteries Ltd has informed BSE that the Sub—Division and Allotment of Shares Committee at its meeting held on September 26, 2007, has approved the allotment of equity shares with face value of Rs 2/- each to those shareholders whose names appear in the register of members and in the list of beneficial owners provided by the depositories, as on September 26, 2007, the record date fixed for that purpose.
Source: BSE    Date: 2007-09-26

  XL Telecom and Energy    
XL Telecom & Energy Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on September 26, 2007, inter alia, have passed the following resolutions: 1. Considered and adopted the Audited Accounts of the Company for the financial year ended June 30, 2007 and the report of the Board of Directors and Auditor’s thereon. 2. Confirmed and approved the interim dividend declared, and paid by the Company. 3. Re-appointment of Mr. K Vasudeva Rao, Mr. Pramod Kumar Jain & Mr. Wolfgang Werner Knop as Directors of the Company. 4. Re-appointment of M/s. Satyanarayana & Company, Chartered Accountants, as Auditors of the Company to hold office until the conclusion of next Annual General Meeting of the Company & Board of Directors is authorized to fix the remuneration. 5. Approved for increase in authorized share capital from Rs 20 Crores to Rs 30 Crores divided into 3 crores equity shares of Rs 10 each. 6. Approved for alteration of Article 3 of Articles of Association of the Company consequent to the increase in authorized share capital. 7. Authority to the Board to issue and allotment of FCCBs / ADRs / GDRs / Shares on preferential basis / other convertible instruments upto US $ 40 million or its equivalent currency. 8. Approved for issue and allotment of 52,50,000 convertible warrants on preferential basis to promoter / promoter group and others. 9. Approved for change of use of IPO proceeds to the extend of Rs 2040 lacs for additional investment in the working capital required for telecom business and / or the proposed Distilleries project and authority to the Board to a unutilized IPO funds for the business purposes of the Company. 10. Appointment of Sri. Naresh Chand Singhal as Director of the Company. 11. Re-appointment of Mr. Aneesh Mittal as a Whole Time Director of the Company for a period of 5 years w.e.f. October 26, 2007 and payment of remuneration to him. 12. Regularisation of appointment of Mr. V Visweswara Rao as a Director as well as Whole Time Director for period of 3 years w.e.f. April 28, 2007 and payment of remuneration to him.
Source: BSE    Date: 2007-09-26

Mudra Lifestyle    
Mudra Lifestyle Ltd has informed BSE that the members at the 10th Annual General Meeting (AGM) of the Company held on September 26, 2007, inter alia, have accorded to the following: 1. Approval of Audited Annual Accounts for the Financial year ended March 31, 2007. 2. Declaration of 10 % dividend on the equity shares of the Company. 3. Re-appointment of Mr. S C Bhargava as director of the Company, liable to retire by rotation. 4. Re-appointment of M/s. V K Beswal & Associates, Chartered Accountants as Auditors of the Company to hold office from conclusion of this Annual General Meeting to the conclusion of next Annual General Meeting of the Company, and fixing up of their remuneration. 5. Appointment of Mr. S P Pandian as a director.
Source: BSE    Date: 2007-09-26

    Accentia Technologies    
Accentia Technologies Ltd has informed BSE that the Company has procured an order worth USD 3.5 Million from its UK clients for its BPO services. The order specifications include Health Care Receivables Management Services of the Company, which comprises of complete cycle of documentation / transcription, coding, billing and insurance claims. The order will get executed over a span of 24 months. Commenting on the order, Mr. Pradeep Suseela Vismabharan stated that, after acquiring 100% stake in Bangalore based Thunga Software Ltd and majority stake in Asscent Infoserve Ltd., We are trying to increase the scale of our operations at these two companies with the New Order that the Company has procured.
Source: BSE    Date: 2007-09-26

    Amco Vinyl    
Amco India Ltd has informed BSE that the members at the 20th Annual General Meeting (AGM) of the Company held on September 26, 2007 have unanimously passed all the four resolutions as stated in the Annual Report of the Company for the Financial Year 2006-07.
Source: BSE    Date: 2007-09-26

Reliance Natural Resources    
With reference to the news item appearing in a leading financial daily titled “RNRL to offer 20% in methane blocks to strategic investor”, Reliance Natural Resources Ltd has clarified to BSE that the Company examines various proposals from time to time, it reserves to unlock and create value for its over 2 million shareholders. The Company has received various proposals both from strategic and financial investors in this direction. The Company is currently examining these options and other options.
Source: BSE    Date: 2007-09-26

   Sahara One Media and Entertainment    
Sahara One Media & Entertainment Ltd has informed BSE that the Company has designated an e-mail ID i.e. investors@sahara-one.com for the grievance re-dressal and register their queries / complaints etc. The same is also available at the Companies website i.e. www.sahara-one.com.
Source: BSE    Date: 2007-09-26

   Logix Microsystems    
Logix Microsystems Ltd has informed BSE that the meeting of the Board of Directors of the Company which is scheduled to be held on September 28, 2007 for considering the conversion of share warrants to Equity Shares has been postponed to September 29, 2007.
Source: BSE    Date: 2007-09-26