Pokarna - Outcome Of Board Meeting - Sep 16, 2008

Pokarna Ltd has informed that the Board of Directors of the Company at its meeting held on September 15, 2008, inter alia, has transacted the following:

1. Approved acquisition of 100% paid up capital of Pokarna Engineered Stone Ltd and thereby making it a wholly owned subsidiary of the Company.

2. Transfer of Engineered Stone division, situate at Andhra Pradesh Special Economic Zone, Plot no. 45, Achutapuram & Rambili Mandals, Visakapatnam District, Andhra Pradesh to Pokarna Engineered Stone Ltd, wholly-owned subsidiary of the Company, by way of Court sanctioned scheme of arrangement under Sections 391-394 of the Companies Act, 1956 (Scheme of Arrangement).

3. In principally approved the draft Scheme of Arrangement between the Company and Pokarna Engineered Stone Ltd and have authorised Business Restructuring Committee to finalise the Scheme in consultation with the Advisors of the Company

Outcome Of Indo Tech Transformer’s Board Meeting

Indo Tech Transformers Ltd has informed that the Board of Directors of the Company at its meeting held on May 30, 2008, inter alia, have also considered the following :

1. The Board recommended the appointment of the Statutory Auditors of the Company, M/s. G Balu Associates.

2. The Board recommended the re-appointment of Mr. P S Shekar and Mr. K Kannan, directors retiring by rotation.

Outcome Birla Capital’s Of Board Meeting

Birla Capital & Financial Services Ltd has informed that the Board of Directors of the Company at its meeting held on May 09, 2008, has decided to change the name of the Company to Birla Capital & Financial Services Ltd, subject to necessary approvals / consents / permissions from the members of the Company, Stock Exchanges, Ministry of Corporate Affairs or any other regulatory authorities as may be required in this regard.

The Board of Directors of the Company has decided to obtain the approval of the members of the Company through postal ballot pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolutions by Postal Ballot) Rules 2001.

Outcome Of Royal Cushion’s Board Meeting

Royal Cushion Vinyl Products Ltd has informed that the Board of Directors of the Company at its meeting held on April 28, 2008, has re-appointed the following Directors.

1. Mr. Mahesh Kantilal Shah as Managing Director commencing from April 01, 2008 for a period of 3 years subjects to the approval of Central Government including Shareholders in our ensuing Annual General Meeting, on remuneration, terms & conditions.

2. Mr. Vinod Kantilal Shah as Executive Director commencing from April 01, 2008 for a period of 3 years subjects to the approval of Central Government including Shareholders in our ensuing Annual General Meeting, on remuneration, terms & conditions.

3. Mr. Mukesh Amritlal Motasha as Executive Director commencing from April 01, 2008 for a period of 3 years subjects to the approval of Central Government including Shareholders in our ensuing Annual General Meeting, on remuneration, terms & conditions.

Outcome Of Silver Smith’s Board Meeting

Silver Smith India Ltd has informed that the Board of Directors of the Company at its meeting held on May 09, 2008, has taken the following decisions:

1. To make preferential allotment of 10,80,000 convertible share warrants to non promoters, promoters and strategic investors at a price which was fixed at Rs 40 per share and to be converted into equal number of equity shares of Rs 10/- each within 18 months from the date of allotment but it will carry a lock-in period of 18 months from the date of allotment.

2. To convene an Extra Ordinary General Meeting on June 09, 2008 to take approval from the share holders for the same preferential allotment.

Outcome Of LN Polyester’s Board Meeting

LN Polyesters Ltd has informed that the Board of Directors of the Company at its meeting held on May 07, 2008, inter alia, has considered and approved the following:

1. Appointment of Sri. S Man Mohan Rao as the Executive Chairman of the Company for a period of 3 years with effect from May 01, 2008 subject to the approval of Members, Lenders and Central Government and from such other regulatory authorities.

2. Appointment of Sri. G Surender Reddy as the Managing Director of the Company for a period of 3 years with effect from May 01, 2008 subject to the approval of Members, Lenders and Central Government and from such other regulatory authorities.

3. Increase in the authorized share capital of the Company from Rs 15 crores to Rs 21 crores by creation of additional 60,00,000 Equity Shares of Rs 10/- each.

4. Issue of 43,00,000 Equity Shares of Rs 10/- each at a premium of Rs 10/- per share on Preferential basis to investors subject to the approval of members and other regulatory authorities.

5. Issue of 7,00,000 Equity Shares of Rs 10/- each at a premium of Rs 10/- per share on Preferential basis to Promoters subject to the approval of members and other regulatory authorities.

6. Decided to convene an Extra Ordinary General Meeting of the members of the Company on June 07, 2008 for obtaining the approval of members for the aforesaid items.

Diana Tea Solutions Ltd Has Informed Bod Of Company At Meeting

Diana Tea Company Ltd has informed that the Board of Directors of the Company at its meeting held on April 30, 2008, inter alia, has decided to consolidate the face value of Equity Share of the Company from Rs 2/- (Rupees two) to Rs 5/- (Rupees five) and to take all relevant action in the matters.

I-Flex Solutions Ltd Has Informed Bod Of Company At Meeting

i-flex Solutions Ltd has informed that the Board of Directors of the Company at its meeting held on May 05, 2008, inter alia, has not recommended any dividend on equity shares for the financial year ended March 31, 2008.

Mahindra & Mahindra Share Informed BOD Of Company At Meeting

Mahindra & Mahindra Ltd has informed that the Board of Directors(BOD) of the Company at its Meeting held on May 03, 2008, inter alia, subject to receipt of requisite approvals has approved raising additional resources through issuance of 93,95,974, 9.25% p.a. Unsecured Fully and Compulsorily Convertible Debentures (FCD or FCDs) of the Face Value of Rs 745 each aggregating Rs 700,00,00,630 to Golboot Holdings Ltd, an entity controlled by Goldman Sachs, each FCD being convertible into one Equity Share of Rs 10 each in the Company at a price of Rs 745 per Share (including premium of Rs 735 per Share) in accordance with Chapter XIII of the Securities and Exchange Board of India (Disclosure & Investor Protection) Guidelines, 2000.

The FCDs shall be convertible into Equity Shares at anytime within 18 months from the date of allotment of FCDs at the option of the Investor, and mandatorily convertible into Equity Shares on the date falling 18 months from the date of allotment.

The issue price represents a premium of over 7.91% to the closing price of Rs 690.35 per share traded on Bombay Stock Exchange Ltd on May 02, 2008. With this investment, Golboot Holdings Ltd shall own 3.68% of the post issue paid up equity share capital of the Company.

The Company will utilise the amount raised through preferential offer towards its auto and tractor businesses. Kotak Mahindra Capital Company Ltd was the exclusive financial advisor for the above transaction.

- The Company would be seeking consent of the Shareholders for the aforesaid by a Postal Ballot in accordance with section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001.
The Board has fixed May 03, 2008 as the cut off date for ascertaining the list of
Shareholders to whom Notice and Postal Ballot Form will be sent.

The results of the Postal Ballot will be declared on June 11, 2008.

Bharat Bhushan Share Informed BOD Of Company At Meeting

Bharat Bhushan Share & Commodity Brokers Ltd has informed that the Board of Directors(BOD) of the Company at its meeting held on May 02, 2008, has not made any appointment of Independent Director.

Further the Company has informed that the meeting of Audit Committee of the Board of Directors scheduled to be held on May 02, 2008, has been adjourned sine day for want of quorum.

Further the Company has also informed that the Board of Directors of the Company has for the time being deferred its pronouncement for the issue of further shares of the Company on rights basis, due to adverse market conditions.

Goldstone Technologies Informed BOD Of Company At Meeting

Goldstone Technologies Ltd has informed that the Board of Directors(BOD) of the Company at its meeting held on April 30, 2008, inter alia, has transacted the following:

1. Approved GTL Employee Stock Option Scheme 2007.

2. Constituted Compensation Committee for administration, superintendence and distribution of the Employee Stock Options as per the GTL Employee Stock Scheme 2007.

3. Approved grant of up to 9,00,000 equity shares of the Company as employee stock options to the eligible employees of the Company as may be decided by the compensation committee from time to time.

RSWM Informed BoD Of Company At Its Meeting

RSWM Ltd has informed that the Board of Directors(BoD) of the Company at its meeting held on April 30, 2008, inter alia, has approved the following:

The Board of Directors has recommended @ 0.01% i.e. 1.5 paise on every optionally Convertible Redeemable Preference Shares of Rs 150/- each amounting to Rs 37,500/-.
The Board of Directors has not recommended any dividend on Equity Shares.

Hyderabad Flextech Informed BoD Of Company At Its Meeting

Hyderabad Flextech Ltd has informed that the Board of Directors of the Company at its meeting held on April 30, 2008, has approved the following:

1. Merger of M/s. Hyderabad Flextech Ltd the Transferor Company with Keerthi Industries Ltd the Transferee Company.

2. Swap Ratio agreed : Every 25 shares of M/s. Hyderabad Flextech Ltd on share of Keerthi Industries Ltd.

Ventura Textiles Informed BoD Of Company At Its Meeting

Ventura Textiles Ltd has informed that the Board of Directors(BoD) of the Company at its meeting held on April 30, 2008, inter alia, has accepted the resignation of Mr. S C Bhave (Nominee Director-SBI) w.e.f. January 31, 2008 and since the present strength of the Board is of Four Directors comprising of Two Executive Directors and Two Independent Directors and the Board has decided that there is no need to appoint another Director in place of Mr. S C Bhave.

Amtek India Informed BOD At Its Meeting

Amtek India Ltd has informed that the Board of Directors (BOD) of the Company at its meeting held on April 30, 2008, inter alia, has considered and approved to issue of Secured Non-convertible Debentures amount to Rs 300 Crores.

Gujarat Borosil Informed BOD At Its Meeting

Gujarat Borosil Ltd has informed that the Board of Directors(BOD) of the Company at its meeting held on April 30, 2008, has discussed revision in the estimated cost of low iron figured glass project being set up, adjacent to the existing sheet glass plant of the Company and approved enhanced project cost of Rs 95.00 crores for the same. Further, the construction work on the plant site has started.

EMA India Informed Board Of Directors At Its Meeting

EMA India Ltd has informed that the Board of Directors of the Company at its a

1. Re-appointment of Dr. G N Mathur, Director retiring by rotation was recommended.

2. No Dividend for financial year 2007-08 was recommended.

3. Re-appointment of M/s. B C Jain & Co., Chartered Accountants, Kanpur as Statutory Auditors was recommended.

Areva T&D - Outcome Of Board Meeting

Areva T&D India Ltd has informed that the Board of Directors of the Company at its meeting held on April 25, 2008, inter alia, Mr. Pierre Laporte was inducted as an Additional Director of the Company.

Net 4 India - Outcome Of EGM

Net 4 India Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 08, 2008, have passed the resolution to increase authorised capital of the Company from Rs 20 crores to Rs 25 crores and consequent amendment of Memorandum & Articles of Association. The resolution under section 81(1A) of the Companies, Act, 1956 for preferential allotment of equity shares & convertible warrants on preferential basis as per the details mentioned in the notice, has not been passed.