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Godawari Power & Ispat provides financial update
Apr 03,2017

Godawari Power & Ispat announced that the majority of lenders of the Company have approved restructuring of existing debt facilities i.e. rupee term loans, External Commercial Borrowing, Non-Convertible Debentures (NCD), working capital loans under Corrective Action Plan as per RBI Circular and the Company has executed Master Restructuring Agreement and other necessary security documents, in favor of the lenders. The cut-off date for restructuring of debt was 1 June 2016 with moratorium period of 9 months i.e. 28 February 2017.

By this Restructuring Scheme the repayment schedules of the loans have been elongated up-to March, 2032, to be repaid in structured monthly instalments. There is no additional borrowing proposed under Restructuring Scheme.

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Saraswati Commercial (India) to hold board meeting
Apr 03,2017

Saraswati Commercial (India) will hold a meeting of the Board of Directors of the Company on 3 April 2017.

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L&T Technology Services conferred with Golden Peacock National Quality Award 2017
Apr 03,2017

L&T Technology Services announced that it has been awarded the Golden Peacock National Quality Award, 2017, as a recognition of the companys consistent focus in enabling cutting edge technologies for global businesses.

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Escorts announces tractor sales
Apr 03,2017

Escorts Agri Machinery Segment (EAM) in March 2017 sold 7,079 tractors growth of 31% against 5,403 tractors in March 2016. Domestic tractor sales for the month of March 2017 up by 31.7% at 7,014 tractors against 5,403 tractors in March 2016. Export for the month of March 2017 stood at 65 tractors against 76 tractors in March 2016.

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Shares of Octaware Technologies get listed
Apr 03,2017

The equity shares of Octaware Technologies (Scrip Code: 540416) are listed effective 03 April 2017 and admitted to dealings on the Exchange in the list of M Group Securities

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Dilip Buildcon receives provisional completion certificate for road project in Madhya Pradesh
Apr 03,2017

Dilip Buildcon has received the Provisional Completion Certificate as declaration of Commercial Operation Date (COD), 100 days prior to the Scheduled Completion Date for the Project of Rehabilitation and Up-gradation of existing road to 2 lane with Paved Shoulder as Cement Concrete Pavement configuration Katni-Shahdol-Anuppur to MP/Chhattisgarh Border (NH-78), from existing Km. 142/200 to 245/0 Design Length 91.800 km in the state of Madhya Pradesh on Engineering, Procurement and Construction (EPC) basis.

The Project (details of which are provided herein below) has been declared fit for entry into commercial operations w.e.f. 17 February, 2017 and the Company is entitled to a maximum amount of bonus of Rs.10.20 crore in lieu of earlier completion of the said Project.

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MEP Infrastructure Developers provides update on Mahuva Kagavadar Road project
Apr 03,2017

MEP Infrastructure Developers announced that its subsidiary - MEP SANJOSE Mahuva Kagavadar Road has achieved financial closure as per the Concession Agreement executed with NHAI dt. 09 August 2016 for the project of Four Laning of Mahuva to Kagavadar Section in the State of Gujarat on Hybrid Annuity Mode under NHDP Phase IV by tying up of Project finance of Rs.272.11 crore.

The Bid project cost is Rs.604.68 crore out of which Project finance will contribute Rs.272.11 crore & remaining contribution will be funded by grant of Rs.241.87 crore from NHAI and equity contribution of Rs.90.70 crore of the Subsidiary Company.

Key highlights of the Project are -

(1)Construction Period:2.5yrs from the Appointed Date

(2)Concession Period:15yrs (excluding Construction Period: 2.5yrs)

(3)The Company will receive Bi-Annual Annuity from NHAI post COD.

The Company has now achieved financial closure of Six of its HAM Projects which are awarded by the Authority & successfully tied up total project finance of Rs.1726.65 crore towards all Six HAM Projects.

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Phoenix Mills announces cessation of subsidiary
Apr 01,2017

Phoenix Mills announced that consequent upon the sale/disposal of the Companys shares in Escort Developers (EDPL) on 31 March 2017, the overall holding of the Company in Classic Mall Development Company (CMDCPL) has reduced to 48.19% as on 31 March 2017. Pursuant to the aforesaid change in the overall holding, CMDCPL has ceased to be the Companys subsidiary and has become an associate company w.e.f. 31 March 2017.

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Huhtamaki PPL provides update on scheme of arrangement
Apr 01,2017

Huhtamaki PPL announced that subsequent to receiving Certified True copy of the NCLT Orders from Honble Mumbai Bench of National Company Law Tribunal (NCLT) sanctioning the Scheme of Arrangement of Positive Packaging Industries and Webtech Labels Private with Huhtamaki PPL, and their respective shareholders and creditors, the Orders have been filed by the respective Companies with the Registrar of Companies and the Mergers has become effective, 01 April 2017.

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Vikas EcoTech intimates of fire accident at Polypropylene manufacturing plant
Apr 01,2017

Vikas EcoTechs newly commissioned Polypropylene manufacturing plant was destroyed in a fire that engulfed this particular section at companys Shahjahanpur manufacturing facility in Rajasthan. The damage was limited to only one building that housed the polypropylene section and a material warehouse. The companys four other manufacturing units situated in the same factory complex are safe and fully operational. No human casualties were reported and all companys employees are safe. The polypropylene unit was expected to contribute around 3% to companys annual sale in FY 2017-18. It would take a minimum of 4 months to restore full production of this unit. According to initial estimates, the total damage to the Factory building, Machinery, WIP, Raw material and Finished goods stock could be around Rs 15-20 crore. The building, machinery and stocks destroyed were fully insured.

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Andhra Bank receives Rs 1100 crore from GoI
Apr 01,2017

Andhra Bank announced that the Government of India has remitted Rs 1100 crore on 31 March 2017 towards contribution of Government of India in the preferential allotment of equity shares of the Bank. The amount will remain in Share Application money till compliance of certain terms.

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Phoenix Mills gets bonus shares allotted by subsidiary - Island Star Mall Developers
Apr 01,2017

Phoenix Mills announced that the Company has been allotted the following shares under bonus issue by its wholly owned subsidiary, Island Star Mall Developers (ISMDPL) on 31 March 2017 -

8,04,92,330 Equity Shares of Face Value Rs 10 each and

30,89,759 Compulsorily Convertible Preference Shares Series A (CCPS) of Face Value Rs. 10 each.

Subsequent to the aforesaid allotment, there is no change in the shareholding of the Company and ISMDPL continues to remain a wholly owned subsidiary of the Company.

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TCI Industries announces resignation of director
Apr 01,2017

TCI Industries announced the resignation of Dr. Vaijayanti Pandit as a Director of the Company with effect from 31 March 2017.

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Virat Leasing announces cessation of subsidiary
Apr 01,2017

Virat Leasing announced that the Company has sold its stake in the Moti Finvest due to which it has ceased to be the subsidiary of the company w.e.f. 31 March 2017.

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Salzer Electronics provides update on scheme of amalgamation
Apr 01,2017

Salzer Electronics announced that due to administrative reasons, it is proposed to withdraw, for time being, the Scheme of Amalgamation / Merger of Salzer Magnet Wires (an Unlisted Transferor Company) with Salzer Electronics, already submitted with Stock Exchanges namely BSE and NSE with an appointed date of 01 April 2016 in terms of Regulation 37 of aforesaid Regulations.

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