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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 Ontic Finserve approves change in company secretary
May 05,2017

Ontic Finserve announced that the Board of Directors of the Company at its meeting held on 05 May 2017 approved the following -

1) To accept the Resignation of Binny Omprakash Porwal as Company Secretary & Compliance officer of the Company w.e.f 30 April 2017.

2) To take note of Appointment of Dipesh Hasmukhbhai Solanki (ACS- 42076) as a Company Secretary & Compliance officer of the Company w.e.f 05 May 2017.

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Board of Spenta International appoints company secretary cum compliance officer
May 05,2017

Spenta International announced that the Board of Directors at its meeting held on 05 May 2017 has appointed Prasad Chavan as a Company Secretary cum Compliance Officer with effect from 05 May 2017.

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Board of Indian Bank accords in-principle approval for issue of LT bonds
May 05,2017

Indian Bank announced that the Board of Directors of the Company in its meeting held on 05 May 2017, accorded in-principle approval for issue of Long Term Bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs.5,000 crore. The Board will consider specific approval for the same at the time of actual floating of the Bonds.

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Board of ACC decides to commence evaluation of potential merger between ACC and Ambuja Cements
May 05,2017

The Board of Directors of ACC at its meeting held on 05 May 2017 has decided to commence an evaluation of a potential merger between the company and Ambuja Cements with a view to combine the strengths of both businesses so as to benefit all stakesholders.

A special Committee of Directors, of which majority are Independent Directors, has been constituted to commence the evaluation.

No decision to merge has been taken and the ACC Board will decide on a merger based on the recommendation of the Special Committee and the Audit Committee.

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Ministry of Civil Aviation Issues Draft CAR on Handling of unruly and disruptive passengers
May 05,2017

The Minister for Civil Aviation Shri Ashok Gajapathi Raju and MoS Shri Jayant Singh briefed media today with regard to handling of unruly passengers. They informed that the Civil Aviation Requirement (CAR) on n++Handling of unruly/disruptive passengersn++ is being revised to enhance the safety and security of passengers, crew as well as airlines. During the press conference the Secretary for Civil Aviation Shri R.N. Choubey gave details of the draft CAR.

Main features of the proposed CAR are as follows:

a) Three levels of unruly behaviors defined viz. Level 1 - disruptive behavior, Level 2 - physically abusive behavior and Level 3 - Life- threatening behavior.

b) The Airlines will maintain a database of such passengers which will form a National No-fly List of unruly/disruptive passengers. Individuals identified by MHA as national security threats will also form part of the National No-Fly List. Such names will be forwarded to the individuals by the airlines indicating the reasons for inclusion of their names in the National NO-Fly List.

c) For passengers indicated in the National No-Fly List, airlines will have option to bar the unruly passenger from taking flights to/form/within India for a period ranging from 03 months to a maximum of two years depending upon level of unruly behavior. For every subsequent offence, the person will be banned for twice the period of previous ban.

d) Provides for two tiers of complaint handling mechanism in such cases, viz. initial inquiry at airlines level by an internal committee headed by a retired Distict & Sessions Judge and an appeal at Govt. headed by Retired Judge of a High Court of India

The Secretary informed that other Airlines as well as International Airlines were free to take cognizance of No Fly List and extend ban to the concerned individual or group of individuals. However individuals in No Fly List identified by security agencies would have no right to appeal.

The Secretary informed the media that after placing the draft on public domain and getting responses and suggestions, the Ministry is confident that the matter would be finalized by the end of June, 2017.

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MPS Infotecnics enters into MoU with QzIP Blockchain Technology
May 05,2017

MPS Infotecnics announced that the Company has entered into MOU with QzIP Blockchain Technology LLP (Qzip.in) (hereinafter referred to as QzIP), whereby QzIP will proivde the knowhow and the requisite software artictural elements for Blockchaim Technology integeration, into the MPA e-commerce platform upon a commercial basis.

Further, the company is creating a white labelled e-commerce platform which can be used by retailers for hosting their business e-commerce sites, under their respective branding. Also the company will be the first company in India which will be providing e-commerce platform based on Blockchain Technology.

The MoU is for a period of 12 months from the effective date i.e. 04 May 2017 untill & unless extended for a further period based on mutual terms.

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Board of BASF India recommends final dividend
May 05,2017

BASF India announced that the Board of Directors of the Company at its meeting held on 4 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Valley Magnesite Company to hold board meeting
May 05,2017

Valley Magnesite Company will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the Audited Financial Results of the Company for the Last Quarter and Year ended 31 March 2017.

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VRL Logistics announces resignation of director
May 05,2017

VRL Logistics announces the resignation of S R Prabhu, Non-Executive Director of the Company.

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Expert Panel suggests Corridor - Wise SPVs for developing Dedicated Freight Corridors
May 05,2017

The development of Dedicated Freight Corridors has emerged as one of the key solutions to improving logistics in India. The emphasis here is on connecting centres of economic importance in the most efficient ways using an optimal, multi-modal mix of transport, so that there is consistent and congestion free passage of cargo along key routes. Such efficient transport of cargo will bring about the much needed reduction of logistics cost.

A special session at the India Integrated Transport & Logistics Summit (IITLS) discussed the key issues related to the development of such corridors. The Union Minister of State, Commerce & Industry Smt Nirmala Sitharaman addressed the session that was chaired by NHAI Chairman Shri Yudhvir Singh Malik and co-chaired by Shri. Vinayak Chatterjee, Chairman, CII National Committee on Infrastructure & PPP and Chairman, Feedback Infra Ltd.

As a means for developing an efficient transport system, the panel discussed themes like adopting corridor approach to road development with considerations for logistics and last mile connectivity , need for comprehensive ecosystem to promote coastal shipping, adopting global models to accelerate development of inland terminals and whether coastal shipping & inland waterways will drive the next wave of logistics cost transformation

India has invested heavily in developing its road network over the last 25 years. India has a network of about 5.25 million km of roads, accounting for about 60% of total freight movement. However, National Highways, the most important links in the Indian road network carrying 40% of total traffic movement, account for just 2% of the total road network. The government has taken steps to improve the national highway network by setting up of six corridors (4 legs of Golden quadrilateral, North-South & East-West corridors). These corridors carry 35% of total road freight.

Additionally, with 14,500 km of navigable inland waterways and a 7,500-km coastline, India has an immense potential for inland and coastal transportation. However, transportation through inland waterways has a share of less than 5% in the total logistics volumes. In comparison, China and EU transport about 45% of shipments through inland waterways. There are cost benefits of transportation through waterways and coastal shipping, with cost of these modes being half of competing modes like road and rail.

Government has taken visible steps to promote coastal shipping and inland waterway transport as viable alternates to road and rail by compensating the costs incurred on first mile and last mile connectivity, for the commodities with potential to be moved through inland waterways or coastal network. Government has also announced measures under the Sagarmala program for port-led development of coastal areas to enable multi modal transportation. Further steps like dedicated infrastructure to ensure priority berthing, port tariff rationalization to align rates for major and non-major ports etc. are required to make the value proposition of logistics movement through inland waterways and sea attractive for logistics players.

In his presentation Mr Jose Luis Irigoyen, Senior Director, World Bank Transport & ICT Group emphasized on physical planning, adequate institutions and governance, and apt policy instruments as key enablers for development and management of economic corridors. He also highlighted areas in the corridor development program where World Bank could add value. Shri . Anil Devli CEO, INSA talked about the need to enhance the share of waterways in transport of cargo . Mr. H.F.W. de Leijer Partner, STC NESTRA, Netherlands presented a theoretical framework for the development of economic corridors and showcased the role of inland ports. He also discussed the concept of bundling cargo and presented about internationally adopted best practices.

The panel discussion that followed flagged the importance of administrative and procedural interventions. Members also discussed the constraints and challenges before the railways and ports sectors. The panel talked about several institutional frameworks for the execution of corridor development and among other suggestions, a corridor-wise SPV was discussed.

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Sakuma Exports announces demise of director
May 05,2017

Sakuma Exports announced the sad demise of Chander Mohan, Executive Chairman and Director of the Company on 04 May 2017.

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Rupee closes lower
May 05,2017

Rupee closed lower at 64.5425/5550 per dollar on Friday (05 May 2017), versus its previous close of 64.3625/3650 per dollar due to overseas dollar demand from the importers.

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Parag Milk Foods launches Slurp
May 05,2017

Parag Milk Foods has lauched Slurp with an aim to expand its footprint in the beverages category. Slurp - a pure Alphonso mango drink with a dash of milk will be available across markets of Mumbai, Delhi, Kanpur and Chennai in 200 ml tetra pack at Rs 20/.

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ICICI Bank allots 105,630 equity shares
May 05,2017

ICICI Bank has allotted 105,630 equity shares under ESOS on 05 May 2017.

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Everest Organics gets revision in credit ratings
May 05,2017

Everest Organics announced that ICRA has upgraded and assigned the long term rating from B- Stable to BB- (Pronounced as ICRA double B minus) and Short term rating is [ICRA] A4 same as previous short term rating. The outlook on the long term rating is Stable.

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