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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Board of Claris Lifesciences approves sale and transfer of Injectable Business
Dec 15,2016

Claris Lifesciences announced that the Board of Directors of the Company at the meeting held on 15 December 2016 has approved the sale and transfer of the Injectable Business of Claris Lifesciences (CLL or the Company) by way of sale of the following subsidiary companies:

Claris Injectables , Claris Pharmaservices, Elda International DMCC, Claris Lifesciences Inc., Claris Lifesciences (UK), Claris Lifesciences (Aust), Claris Lifesciences Philippines, INC.

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Parle Software Board to review performance of company
Dec 15,2016

Parle Software announced that a meeting of the Board of Directors of the Company for the Financial Year 2016-17 is scheduled to be held on 23 December 2016, inter alia, to consider the followings:-

- To review the performance of the Company.

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Board of Modi Udyog to consider credit facility
Dec 15,2016

Modi Udyog announced that the Meeting of the Board of Directors is scheduled to be held on 19 December 2016, inter alia, to discuss the following matters:

- HDFC Bank sanctions credit facility.

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Board of Jhaveri Credits & Capital accepts resignation of company secretary
Dec 15,2016

Jhaveri Credits & Capital announced that the Board of Directors in their meeting held on 15 December 2016 has approved the resignation of Chintan H Vakil, from position of Company Secretary (key managerial personnel) and Compliance officer of the Company with effect from 15 December 2016.

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Board of Akashdeep Metal Industries accepts resignation of company secretary
Dec 15,2016

Akashdeep Metal Industries announced that the Board of Directors of the Company at its meeting held on 14 December 2016 accepted the resignation of Sanjeev Tripathi from the post of Company Secretary with effect from 30 November 2016.

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Outcome of board meeting of iStreet Network
Dec 15,2016

iStreet Network announced that the Board of Directors of the Company at its meeting held on 15 December 2016 has approved the following -

Increase in Authorised Share Capital from Rs 10 crore to Rs 20 crore.

Issue of 16,20,500 equity warrants on preferential basis.

Grant of 7,61,627 ESOPs under iSNL ESOP 2016.

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Board of Kavit Industries to consider change in directorate
Dec 15,2016

Kavit Industries announced that the meeting of Board of Directors of the Company will be held on 24 December 2016, inter alia, to consider the following items:

1. To Appoint Hetal Nandaniya as Additional Director of the Company.

2. To Resign Kalyani Rajeshirke as Director of the Company.

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Board of Avantel to consider scheme of amalgamation
Dec 15,2016

Avantel announced that a meeting of Board of Directors of the Company will be held on 17 December 2016, inter alia for transacting the following businesses:

1. To consider and approve the Postal Ballot and E-voting Notice for obtaining the approval of the Shareholders of the Company to the Scheme of Amalgamation between and Avantel and Wiki Kids and their respective Shareholders and Creditors through voting by Postal Ballot and E-voting.

2. To consider the appointment of MB Suneel, Practising Company Secretary, to act as the Scrutinizer for the Postal Ballot and E-voting Process.

3. To approve holding of the court convened meeting of the shareholders of the Company for obtaining the approval of the Shareholders of the Company to the Scheme of Amalgamation between and Avantel and Wiki Kids and their respective Shareholders and Creditors (Scheme) on 27 January 2017, at 11.00 A.M. at the registered office of the Company situated at Sy No.141, Plot No.47/P, APIIC Industrial Park, Gambheeram (V), Anandapuram (M), Vishakhapatnam - 531163, Andhra Pradesh, India, as directed by the Honble High Court at Hyderabad.

4. To consider and approve the Notice of the Court Convened Meeting.

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Cox & Kings to open its second hotel in Brussels
Dec 15,2016

Cox & Kings owned Meininger Hotel signed a lease contract with Nelson Canal for a hotel in Brussels. The hotel will have 150 rooms and 668 beds and will be located in Rue Bara close to main railway in Brussels. The hotel is expected to open in fourth quarter of 2018 and will be Meiningers second hotel in Brussels.

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NITI Aayog announces schemes for incentivising digital payment
Dec 15,2016

Government of India has initiated numerous steps to combat the scourge of Corruption and Black Money in the last two and a half years. Demonetization of 500 and 1000 Rs notes was important milestone in this endeavour. Following demonetization, there has been a spurt in the digital payments across the country and both the volume and amount of money transacted through digital methods has seen manifold increase since 09 November 2016.

Yet, as on date, nearly 95% of Indias personal consumption expenditure transactions are cash-based giving rise to a very large informal economy limiting the ability of State to levy and raise taxes. The Government of India had recently on 08 December announced a slew of measures to promote digital payments.

NITI Aayog has announced the launch of the schemes Lucky Grahak Yojana and the Digi-Dhan Vyapar Yojana to give cash awards to consumers and merchants who utilize digital payment instruments for personal consumption expenditures. The scheme specially focuses on bringing the poor, lower middle class and small businesses into the digital payment fold. It has been decided that National Payment Corporation of India (NPCI) shall be the implementing agency for this scheme. It would be useful to reiterate that NPCI is a not for profit company which is charged with a responsibility of guiding India towards being a cashless society.

The primary aim of these schemes is to incentivize digital transactions so that electronic payments are adopted by all sections of the society, especially the poor and the middle class. It has been designed keeping in mind all sections of the society and their usage patterns. For instance, the poorest of poor will be eligible for rewards by using USSD. People in village and rural areas can participate in this scheme through AEPS. The scheme will become operational with the first draw on 25 December 2016 (as a Christmas gift to the nation) leading up to a Mega Draw on Babasaheb Ambedkar Jayanti on 14 April 2017. It will comprise of two major components, one for the Consumers and the other for the Merchants:

a) Lucky Grahak Yojana [Consumers]:

i. Daily reward of Rs 1000 to be given to 15,000 lucky Consumers for a period of 100 days;

ii. Weekly prizes worth Rs 1 lakh, Rs 10,000 and Rs 5000 for Consumers who use the alternate modes of digital Payments

This will include all forms of transactions viz. UPI, USSD, AEPS and RuPay Cards but will for the time being exclude transactions through Private Credit Cards and Digital Wallets.

b) Digi-Dhan Vyapar Yojana [Merchants]:

i. Prizes for Merchants for all digital transactions conducted at Merchant establishments

ii. Weekly prizes worth Rs 50,000, Rs 5,000 and Rs 2,500

c) Mega Draw on 14 of April - Ambedkar Jayanti

i) 3 Mega Prizes for consumers worth Rs 1 crore, 50 lakh, 25 lakh for digital transactions between 8 November 2016 to 13 April 2017 to be announced on 14 April 2017

ii) 3 Mega Prizes for merchants worth Rs 50 lakh, 25 lakh, 12 lakh for digital transactions between 8 November 2016 to 13 April 2017 to be announced on 14 April 2017.

To ensure that the focus of the scheme is on small transactions (entered into by common people), incentives shall be restricted to transactions within the range of Rs 50 and Rs 3000. All transactions between consumers and merchants; consumers and government agencies and all AEPS transactions will be considered for the incentive scheme.

The winners shall be identified through a random draw of the eligible Transaction IDs [which are generated automatically as soon as the transaction is completed] by software to be especially developed by NPCI for this purpose. NPCI has been directed to ensure a technical and security audit of the same to ensure that the technical integrity of the process is maintained.

The estimated expenditure on the first phase of the scheme (up to 14 April 2017) is likely to be Rs 340 crore. The Government will simultaneously carry out a review for further implementation. India is transitioning at a rapid rate from a cash-user society to a cashless society. This is a historic moment in our nations history when our nation is shedding old habits and rapidly adopting new means which shall propel us into a truly modern age.

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Uttam Sugar Millsannounces change in nominee director
Dec 15,2016

Uttam Sugar Mills announced that IDBI has nominated Anilkumar Ramprit Jaiswara in place of Kumar Neel Lohit as Nominee Director of IDBI Bank. Accordingly, the Board of Directors of the Company has appointed Anilkumar Ramprit Jaiswara as Non Executive Nominee Director w.e.f. 13 December 2016 on the Board of the Company in place of Kumar Neel Lohit.

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Tube Investments of India appoints CFO
Dec 15,2016

Tube Investments of India announced that K Mahendra Kumar has been appointed and has assumed office as the new Chief Financial Officer of the Company with effect from 15 December 2016.

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Sical Logistics provides operations update
Dec 15,2016

Sical Logistics announced that due to the recent cyclone Vardah which hit Chennai on 12 December 2016, the logistics operations at Chennai and Kamarajar Port and the activities at the CFS of subsidiary company got interrupted. However there are no material losses to the assets of the Company. The assets of the Company are insured and loss, if any will be claimed under the insurance policies.

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Viceroy Hotels announces demise of director
Dec 15,2016

Viceroy Hotels announced that A. Purnachandra Rao, Non-Executive Independent Director of the Company passed away on 14 December 2016.

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Zee Media Corporation appoints CFO
Dec 15,2016

Zee Media Corporation announced that Sumit Kapoor has been appointed as the Chief Financial Officer of the Company with effect from 16 December 2016, in place of Dinesh Garg.

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