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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Board of RCL Foods to consider September quarter & half year results
Nov 19,2016

RCL Foods announced that a meeting of the Board of Directors of the Company will be 25 November 2016, inter alia, to consider the following;

1. To consider the Audited Financial Results of the Company for the Quarter and year ended 31 March 2016.

2. To consider the Unaudited Financial Results of the Company for the Quarter ended 30 June 2016.

3. To consider the Unaudited Financial Results of the Company for the Quarter and Half Year ended 30 September 2016.

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Revised Double Taxation Avoidance and the Prevention of Fiscal Evasion (DTAA) Agreement signed between India and Cyprus
Nov 19,2016

A revised Agreement between India and Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal evasion (DTAA) with respect to taxes on income, along with its Protocol, was signed in Nicosia, which will replace the existing DTAA that was signed by two countries on 13th June 1994. The Protocol was signed by Mr. Ravi Bangar, High Commissioner of India to Cyprus on behalf of India and Mr. Harris Georgiades, the Minister of Finance on behalf of Cyprus.

New DTAA provides for source based taxation of capital gains arising from alienation of shares, instead of residence based taxation provided under the existing DTAA. However, a grandfathering clause has been provided for investments made prior to 1st April, 2017, in respect of which capital gains would continue to be taxed in the country of which taxpayer is a resident.

The new Agreement provides for Assistance between the two countries for collection of taxes. The new Agreement also updates the provisions related to Exchange of Information to accepted international standards, which will enable exchange of banking information and allow the use of such information for purposes other than taxation with the prior approval of the Competent Authorities of the country providing the information. The new Agreement expands the scope of permanent establishment and reduces the tax rate on royalty in the country from which payments are made to 10% from the existing rate of 15%, in line with the tax rate under Indian tax laws. It also updates the text of other provisions in accordance with the international standards and consistent policy of India in respect of tax treaties.

Provisions of new DTAA will enter into force after the completion of necessary internal procedures in both countries and is expected to come into effect in India in respect of income derived in fiscal years beginning on or after 1st April, 2017.

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Balkrishna Industries fixes record date for 2nd interim dividend
Nov 18,2016

Balkrishna Industries has fixed 08 December 2016 as the Record Date for the purpose of Payment of 2nd Interim Dividend and the payment thereof shall be credited /dispatched on or after 14 December 2016.

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Ramco Systems incorporates subsidiary - Ramco Systems (Shanghai)
Nov 18,2016

Ramco Systems has incorporated Ramco Systems (Shanghai), China as a wholly owned subsidiary of the Company.

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IDFC Bank allots equity shares
Nov 18,2016

IDFC Bank announced that the Allotment and Share Transfer Committee of the Bank met on 18 November 2016 and allotted 567,277 fully paid up equity shares of Rs.10 each to the employees in terms of IDFC Bank Employee Stock Option Scheme 2015 (IDFC Bank ESOS-2015) and pursuant to the resolution passed by the shareholders of the Bank at their meeting held on July 27, 2016. Further, IDFC Bank ESOS-2015 is in compliance with the SEBI (Share Based Employee Benefits) Regulations 2014. The total money realized by exercise of the aforesaid options is Rs. 26,531,545.29.

Post the aforesaid allotment, the Equity Share Capital of the Bank now stands at 3,395,641,885 equity shares of Rs.10 each, aggregating to Rs. 33,956,418,850.

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Board of TTI Enterprise approves consolidation of shares
Nov 18,2016

TTI Enterprise announced that the Board of Directors at their meeting held on 01 August 2016 approved the the following Other Matters:

- Consolidation of 5 (Five) Equity Shares of face value Rs. 2/- each fully paid up into 1 (one) Equity Share of face value Rs. 10/- each fully paid up.

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TTI Enterprise fixes record date for consolidation of shares
Nov 18,2016

TTI Enterprise announced that the Board of Directors at their meeting held on 14 November 2016 have fixed the Record date on 22 December 2016 for the purpose of Consolidation of 5 (Five) Equity Shares of face value Rs. 2/- each fully paid up into 1(One) Equity Share of face value Rs. 10/- each fully paid up.

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Board of Balkrishna Industries to consider Q2 results and 2nd interim dividend
Nov 18,2016

Balkrishna Industries announced that a meeting of the Board of Directors of the Company is scheduled to be held on 30 November 2016, inter alia, to consider and approve the Unaudited financial results of the Company for the quarter ended 30 September 2016 (Q2) and to consider declaration of 2nd Interim Dividend on equity shares, if any, for the financial year 2016-2017.

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Budget of Rs. 5501.15 crore for Implantation of Pradhan MantriFasalBima Yojana (PMFBY) During 2016-17.
Nov 18,2016

As per provisions of PMFBY, admissible claims are worked out on the basis of yield data generated from Crop Cutting Experiments (CCEs) submitted by concerned State Governments to the insurance companies. Hence, the number of beneficiaries (to whom the claims are paid) are known only thereafter. The cut-off date for receipt of yield data for Kharif 2016 season is one month from the final harvest i.e. 15th December, 2016. Claims are estimated accordingly.

State-wise details of farmers covered under PMFBY/Weather Based Crop Insurance Scheme (WBCIS) are given below:

State-wise details* of loanee and non-loanee farmers covered  under PMFBY and WBCIS (combined) during Kharif 2016

Sl.

No

States/UTsNo. of Farmers Insured (Lakhs)1Assam 0.512Andhra Pradesh15.093Bihar13.984Chhattisgarh13.265Goa0.0076Gujarat11.917Haryana6.968Himachal Pradesh0.979Jharkhand8.4910Karnataka10.5911Kerala0.2212Madhya Pradesh36.5413Maharashtra66.7914ManipurData not available15Meghalaya0.000616Odisha17.4617Rajasthan53.0518Tamil Nadu0.1319Telangana6.5520Tripura0.0221Uttar Pradesh30.0422Uttarakhand1.2823West Bengal32.40Total326.25

  *Provisional.

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Great Eastern Shipping Company provides business update
Nov 18,2016

Great Eastern Shipping Company announced that its Singapore based subsidiary, Greatship Global Offshore Services, has sold and delivered its 2013-built ROV Support Vessel Greatship Ragini to the buyers.

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Aurionpro Solutions to launch its Malware Isolation product - Isla
Nov 18,2016

Aurionpro Solutions has announced that Isla TM, its industry leading Malware Isolation product will now be available in India from 01 December 2016.

Cyberinc, an Aurionpro Company will make Isla available as an appliance as well as cloud based offering through partners. The Company has established a team of security experts dedicated to supporting India based clients out of its India offices. The Company will also establish a channel of resellers and distributors for Isla in the first quarter of 2017.

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China Stocks fall on capital outflow woes, stronger dollar
Nov 18,2016

Mainland China stock market closed down for second straight session on Friday, 18 November 2016, on funds outflow worries after US Federal Reserve Chair Janet Yellen said the Fed could raise interest rates as soon as next month, which is expected to make emerging markets less attractive. Market heavyweights and financial stocks were hit worst, dragging down overall performance. The benchmark Shanghai Composite Index fell 0.5% to close at 3,192.86 points. The CSI 300 index closed 0.56% down at 3,417.46 points.

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China Stocks fall on capital outflow woes, stronger dollar
Nov 18,2016

Mainland China stock market closed down for second straight session on Friday, 18 November 2016, on funds outflow worries after US Federal Reserve Chair Janet Yellen said the Fed could raise interest rates as soon as next month, which is expected to make emerging markets less attractive. Market heavyweights and financial stocks were hit worst, dragging down overall performance. The benchmark Shanghai Composite Index fell 0.5% to close at 3,192.86 points. The CSI 300 index closed 0.56% down at 3,417.46 points.

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GPT Infraprojects commences trail production at Concrete Sleeper plant
Nov 18,2016

GPT Infraprojects announced the commencement of trail production at the Companys concrete sleeper plant in Pahara village located at Mirzapur district, Uttar Pradesh.

GPT Infraprojects has set up the sleeper facility in Pahara in connection with the World Bank funded Eastern Dedicated Freight Corridor project for supplying concrete sleepers. This production facility, with a capacity of 400,000 sleepers per annum, is one of the 2 facilities being set up for this Rs 246 crore contract of DFC by the Company. The first facility of similar capacity in Ikari, Uttar Pradesh began trail production this September.

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Shipping Corporation of India takes delivery of MV Sabarmati
Nov 18,2016

Shipping Corporation of India announced that on 18 November 2016, SCI has taken physical delivery of secondhand MPSV m.v. SCI Sabarmati (having a gross tonnage of 3306 Metric Tonnes and deadweight of 3352.31 Metric tonnes) at Singapore.

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