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Central Bank of India allots 96.01 lakh shares to GoI
Aug 18,2017

Central Bank of India announced that the Board of Directors of the Bank at its meeting held today i.e. 18 August, 2017 has allotted 96,01,536 equity shares of the face value of Rs. 10/- each to President of India (Government of India) at the issue price of Rs. 104.15 per equity share aggregating upto Rs. 100/- crore (Rupees One Hundred Crore only) subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on 11 May, 2017 and the approval of Government of India under Section 3(2B)(c) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 to increase the paid-up capital vide letter No. F.No.7/38/2014-BOA dated 04.08.2017. With this allotment, shareholding of President of India (Government of India) has increased from 81.28% to 81.38%.

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ATP and Infosys launch new PlayerZone app and website
Aug 18,2017

ATP, the governing body of mens professional tennis, in association with Infosys, a global leader in consulting, technology and next-generation services, announced the launch of a new PlayerZone app and website.

The revamped PlayerZone, an extranet portal for ATP players, their support teams, coaches, and others in the ecosystem, allows users to engage with each other and access information across a wide range of operational aspects related to life on Tour.

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Board of Oriental Veneer Products appoints Executive Director
Aug 18,2017

The Board of Oriental Veneer Products at its meeting held on 18 August 2017 has approved appointment of Vali Najmuddin Mithiborwala, brother of Saleh Najmuddin Mithiborwala as a Executive Director of the Company for a period of five years with effect from 18 August 2017.

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Jyoti Structures intimates of initiation of corporate insolvency resolution process
Aug 18,2017

Jyoti Structures announced that the Company has been going through financial difficulty.

One of the Lenders i.e. State Bank of India had filed application for initiation of corporate insolvency resolution process (n++CIRPn++) of the Company as per the provisions of the Insolvency and Bankruptcy Code (n++IBCn++) before the Honble National Company Law Tribunal, Mumbai bench (n++NCLTn++) which was admitted by the NCLT vide its order dated 04 July 017 (n++CIRP Ordern++). Pursuant to the CIRP Order, the management of the affairs of the Company has been vested in Vandana Garg, the interim resolution professional of the Company (n++IRPn++) appointed by the NCLT with effect from 12 July 2017 (i.e. the date on which the NCLT Order was uploaded on NCLT website or the date of appointment of IRP).

Further, in terms of Section 17(1)(b) of the IBC, the Board of Directors of the Company have been suspended w.e.f. 12 July 2017 and functions of the Board of Directors is being exercised by the IRP as per the provisions of the IBC.

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Fortis Cancer Care to sell its 79.43% stake in Lalitha Healthcare
Aug 18,2017

Fortis Healthcare announced that Fortis Cancer Care (FCCL), a step down subsidiary of the Company has entered into a memorandum of understanding (MoU) with Lalitha Healthcare Private Limited (LHPL), another step down subsidiary of the Company, Dr. Lakshmi Narayana Raju, Lakshmi Priya, S. Venkataramana Raju (collectively the Promoters of LHPL) and Anikrish Hospitals Private Limited, for, inter alia, sale of the entire shareholding held by FCCL, representing 79.43% of the total issued and paid up equity share capital of LHPL (FCCL Shares), to the Promoters of LHPL (Proposed Transaction).

The MoU contemplates that FCCL, LHPL and the Promoters of LHPL will enter into a share purchase agreement (SPA) for the sale of the FCCL Shares to the Promoters of LHPL.

Pursuant, to the consummation the Proposed Transaction the control and management of LHPL will be transferred to the Promoters of LHPL.

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Cupid Trades & Finance announces registered office
Aug 18,2017

Cupid Trades & Finance announced its registered office as under -

122, 2nd Floor, Flox Chambers, 10/21 Tata Road No. 1, Opera House, Mumbai - 400 004, Maharashtra, India.

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Indo Count Industries gets revision in ratings for bank facilities
Aug 18,2017

Indo Count Industries announced that CARE has Upgraded Credit Rating of Long Term Bank Facilities to CARE AA (Double A) with Stable Outlook from CARE AA- (Double A minus) and reaffirmed credit rating of CARE A1+ for Short-term Bank Facilities.

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Engineers India provides update of buyback of shares
Aug 18,2017

Engineers India has extinguished 4,19,61,780 fully paid up equity shares of Rs 5 each in the recently concluded buyback of shares. Paid up equity capital post extinguishement stands at 63,19,11,420 equity shares of Rs 5 each.

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Board of Manaksia Industries approves setting up of three new subsidiaries
Aug 18,2017

The Board of Manaksia Industries at its meeting held on 16 August 2017 approved the following -

Setting up new subsidiaries in Bangladesh and Sri Lanka with investment of USD 200000 each for manufacturing of packaging products of different sizes for supply to pharmaceuticals, liquor and other industries.

Setting up new subsidiary in Georgia for medical business, metals, edible items by investment of USD 200000.

AGM to be held on 18 September 2017.

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Sasken Technologies partners with PTC
Aug 18,2017

Sasken Technologies announced that it has partnered with PTC, a globa provider of technology platforms and solutions that transform how companies create, operate and service products. The collaboration will enable both companies to closely collaborate in solving business challenges for their customers in the IoT space.

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Board of Confidence Finance & Trading approves consolidation of shares
Aug 18,2017

The Board of Confidence Finance & Trading has approved to Consolidate the Face Value of Equity Shares from Re. 1/- to Rs. 10/- in Board Meeting held on 18 August, 2017.

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Sanwaria Agro Oils intimates of increase in import duty of crude oil and refined oil
Aug 18,2017

Sanwaria Agro Oils announced that the Ministry of Commerce on 11 August 2017 raised import duty on crude and refined oil to 15% and 25% from 7.5% and 15% earlier. This initiative of the Government will make Soya Oil extraction and refining segment more viable. Following the goods and services tax (GST) the increase in import duty on edible oil is also a welcome step by the Government.

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Board of Shervani Industrial Syndicate approves buyback of shares
Aug 18,2017

The Board of Shervani Industrial Syndicate at its meeting held on 14 August 2017 has approved the buyback of 2,47,400 fully paid up ordinary shares of face value of Rs 10 each for an amount not exceeding Rs 5.07 crore representing 9.67% of the aggregate of the fully paid up ordinary share capital and free reserves.

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Worldwide Leather Exports appoints director
Aug 18,2017

The Board of Worldwide Leather Exports has appointed Amit Lohia as an Independent Director with effect from 18 August 2017.

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Raymond consolidates its FMCG business
Aug 18,2017

Raymond announced the acquisition of Ansells stake in a joint venture entity known as JK Ansell. With this transaction, the sexual wellness and personal care business will continue to remain in JK Ansell which will become a wholly owned subsidairy of J K Investo Trade (India), a Raymond Group Company. As per the proposed deal, JKIT sells its stake in the glove business to Pacific Dunlop Holdings (Singapore) (Ansell Group Company).

This acquisition will pave the way for Raymond to further scale up the FMGC business and unlock the immense potential of Brand KamaSutra globally.

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