Tamilnadu Petro to takeover HCD unit from SPIC

The Board of Directors of Tamilnadu Petroproducts Ltd. had approved the proposal of taking over of Spic's Heavy Chemicals Division unit for consolidating the Epichlorohydrin business. Spic's HCD plant is located adjacent to TPL's plant in Manali. The requisite approval from Income Tax Department was obtained during mid September 2000 and the approval from IDBI the lead financial institution for TPL was received on September 26, 2000. A formal taking over of the HCD unit was made effective today September 27, 2000 by executing an Agreement between SPIC and TPL.

Madhusudan Industries defers decision to hive off edible oil division

At the meeting of the Board of Directors of Madhusudan Industries Ltd. held on September 27, 2000 the Board has decided that in view of present market condition the matter of hiving-off edible oil division is deferred for the time being. At a later stage and at an appropriate time the Board of Directors will consider to hive-off the Edible Oil Division from the company.

Promoters of Essel Packaging enhance holding through open market purchases

Essel Packaging Ltd. has informed BSE that a promoter company Churu Trading Co Pvt. Ltd. has purchased 2,00,000 equity shares of the company on September 22,2000 through open market purchases on behalf of the promoters. Churu Trading Co Pvt Ltd. has purchased 1,28,600 equity shares of the company on September 25, 2000 through open market purchases on behalf of the promoters. Churu Trading Co Pvt Ltd. has purchased 1,21,400 equity shares of the company on September 26,2000 through open market purchases on behalf of the promoters. Consequently the shareholding of the purchasing Promoter Company after acquisition of these shares has increased from 3.77% to 6.73%.

Kalyani Steels to acquire equity shares of Hikal Chemical from subsidiary

Kalyani Steels Ltd. has informed BSE that it intends to acquire 18,64,700 equity shares of Rs 10/- each of Hikal Chemicals Industries Ltd. together with 18,64,7000 equity shares proposed to be issued by Hikal as bonus shares for a total consideration of Rs 71,048,690 from their wholly owned subsidiary Surajmukhi Investments and Finance Ltd. which constitutes 37.10% of the paid-up share capital of Hikal Chemical Industries Ltd.

VSNL shareholders approve 2:1 bonus issue

At the Annual General Meeting of Videsh Sanchar Nigam Ltd held on September 26, 2000 the shareholders have approved issue of Bonus shares at the rate of 2(two) new shares for 1(one) existing share.

Kamla Dials declares 10% dividend

The Board of Kamla Dials and Devices Ltd at their meeting held on September 26,2000 has declared a dividend of 10%(Re 1 per share) on the equity shares of the company.

Sibar Software to consider issue of shares on preferential basis

Sibar Software Services (India) Ltd has received from certain members expressing their intention to move some resolutions in the ensuing AGM of the company scheduled to be held on 30.09.2000 in respect of following and the same has been included in the Agenda: a. Authorising the Board of Directors of the company to consider and accept investment in a foreign company or enterprise engaged in similar business and also accept their investment in the company by further issue of shares on preferential basis. b. Issuance and allotment of equity shares of the company to persons other than the existing members on preferential allotment basis.

BSE imposes special margin on 2 scrips

BSE has imposed Special Margin in the under mentioned scrips as mentioned alongside with effect from Wednesday, September 27, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin (%) 1. 32364 CYBERSCAPE MULTIMEDIA LTD B2 25 2. 26604 LIPPI SYSTEMS LTD B2 25

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