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Welterman International announces resignation of director
Dec 21,2016

Welterman International announced that Madhavi H. Punjani, has resigned from her position as Independent Director from the Company w.e.f. 15 December 2016.

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Amal to consider Q3 and 9M results
Dec 21,2016

Amal announced that a meeting of Board of Directors of the Company will be held on 12 January 2017, to consider and approve the un-audited Financial Results of the Company for the quarter / nine months ended on 31 December 2016.

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RCOM signs binding agreements with Brookfield Infrastructure and its institutional partners
Dec 21,2016

Reliance Communications (RCOM) announced the signing of binding agreements with Brookfield Infrastructure in relation to the acquisition of RCOMs nationwide tower assets by affiliates of Brookfield Infrastructure Partners LP and its institutional partners.

RCOM will receive an upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion) on completion of the transaction.

RCOM will also receive Class B non-voting shares in the new Tower company, providing 49% future economic upside in the Towers business, based on certain conditions. RCOM expects significant future value creation from the B Class shares, based on growth in tenancies arisingfrom increasing 4G rollout by all telecom operators and fast accelerating data consumption.

RCOMs telecom towers will be demerged into a separate new Company that will be 100% owned and independently managed by Brookfield Infrastructure, thereby creating the second largest independent and operator-neutral Towers company in India.

RCOM will enjoy certain information and other rights, but will not be involved directly or indirectly in the management and operations of the new Company.

RCOM and Reliance Jio will continue as major long term tenants of the new Tower company, along with other existing third party telecom operators.

RCOM will utilize the upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion) solely to reduce its debt. The already announced combination of RCOMs wireless business with Aircel, and the monetization of the Tower business, will together reduce RCOMs overall debt by Rs. 31,000 crore (US$ 4.6 billion), or nearly 70% of existing debt.

RCOM will continue to hold 50% stake in the wireless business combination with Aircel and the 49% future economic upside in the towers business, and will monetise these valuable assets at an appropriate time in the future to further substantially reduce its overall debt.

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Pennar Industries to hike stake in subsidiary - Pennar Renewables
Dec 21,2016

Pennar Industries announced that as per the terms and understanding reached with the existing investors of the Companys subsidiary viz., Pennar Renewables, the final shareholding of Pennar Industries in Pennar Renewables will be 70%. This will be achieved in one or more transactions.

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White Diamond Industries renamed as White Organic Agro
Dec 21,2016

White Diamond Industries announced that the Company has been renamed as White Organic Agro following receipt in change name of company from RoC.

Following the change in company name, the Company plans to pursue all statutory licences for its brand name White Organics that shall be mandated for further growth and expansion of the agro business.

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Outcome of board meeting of Minda Corporation
Dec 21,2016

Minda Corporation announced that the Board of Directors of the Company at its meeting held on 20 December 2016 approved the following resolutions -

ESOP subject to approval of shareholders.

Authorisation to issue commercial papers upto Rs 25 crore.

Amendment in the terms and conditions for redemption of 0.001% Cumulative Redeemable Preference Shares subject to approval of shareholders.

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Prithvi Softech renamed as Prithvi Exchange (India)
Dec 21,2016

Prithvi Softech announced that the name of the Company has been changed from Prithvi Softech to Prithvi Exchange (India) vide fresh certificate of incorporation from ROC, Chennai.

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Vascon Engineers sells investment in Viorica Hotels
Dec 21,2016

Vascon Engineers announced that as approved by the Board in its meeting held on 13 December 2016, the investment in shares of Viorica Hotels has been sold for Rs. 15,60,61,291 on 21 December 2016.

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MPF Systems announces change in registered office
Dec 21,2016

MPF Systems announced that Registrar of Companies pursuant to the members approval as per section 13 of the Companies Act, 2013 approved the change of Registered Office of the Company from Greaves Compound, Chinchwad works Bombay - Pune Road, Chinchwad (E) Pune to 108, Prime Plaza, J.V. Patel Compound, B.M.Road, Elphinstone (W) Mumbai-400013.

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Usha Martin gets downgrade of long term issuer ratings
Dec 21,2016

Usha Martin announced that India Rating and Research has downgraded the Company Long-term Issuer Rating from existing IND BBB to IND BBB- and removed it from Rating Watch Negative.

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IRB Infrastructure Developers provides update on Ahmedabad Vadodara Super Express Tollway project
Dec 21,2016

IRB Infrastructure Developers announced that pursuant to the measures approved by the Cabinet Committee on Economic Affairs (CCEA) for revival of the construction sector directing government agencies to pay 75% of the arbitral award amount against Bank Guarantee where government agencies have challenged the arbitral award; IRB Ahmedabad Vadodara Super Express Tollway- Wholly owned subsidiary of the Company (IRBAV), has received from NHAI Rs. 20.55 Crore against the Bank Guarantee submitted by IRBAV as part of 75% of the Arbitral Award amount pronounced by the Arbitral Tribunal.

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Board of Kushal Tradelink to consider and propose scheme of amalgamation
Dec 21,2016

Kushal Tradelink announced that the meeting of the board of directors of the company is scheduled to be held on 05 January 2017, inter alia, to consider the following:

To consider and propose to Amalgamate/Merge Ashapura Paper Mills, Kushal Infrastructure and Kushal Wealth Creators in Kushal Tradelink.

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Millitoons Entertainment incorporates subsidiary - Mient Hospitality LLC
Dec 21,2016

Millitoons Entertainment announced that in line with its plan of diversification into the hospitality sector, the Company has incorporated a wholly owned subsidiary in the name of Mient Hospitality, LLC in the state of Utah, U.S.

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Tata Global Beverages director resigns
Dec 21,2016

Tata Global Beverages announced that Darius Pandole, Non - Executive Independent Director of the Company has resigned from the Board of the Company with immediate effect.

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Board of Capital First approves allotment of NCDs aggregating Rs 100 cr
Dec 20,2016

Capital First announced that the Debenture Committee constituted by the Board of Directors of the Company at its meeting held 20 December 2016, inter - alia, has approved a issue of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures of Rs 100,00,00,000/- (Indian Rupees One Hundred crore) plus Green Shoe Option of INR 10,00,00,000/- (Indian Rupees Ten Crores) on private placement basis.

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