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Board of Vedavaag Systems approves change in directorate
Jan 09,2017

Vedavaag Systems announced that at the meeting of the Board of Directors of the Company held on 07 January 2017, the following were considered and approved:

1. Finalization of Private Placement Offer Letter in terms of Section 42 of the Companies Act, 2013.

2. The Board of Directors of the company at its meeting held today appointed Srinivas Pannala as additional director of the Company in independent category to hold the office till the forthcoming Annual general Meeting.

3. Further the company has inform that the resignation of Umapathi has been taken on record by the board of directors of the company at their meeting held on 07 January 2017.

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Outcome of board meeting of Crimson Metal Engineering Company
Jan 09,2017

Crimson Metal Engineering Company announced that the Company, at its board meeting held on 06 January 2017, has approved the availing of financial assistance from BANK OF CEYLON, Egmore Branch, Chennai, up to an extent of Rs. 18 crore.

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Income-tax Rules amended to provide- bank shall obtain & link PAN or Form No. 60 in all existing bank accounts (other than BSBDA) by 28 February 2017
Jan 09,2017

Income-tax Rules have been amended to provide that bank shall obtain and link PAN or Form No. 60 (where PAN is not available) in all existing bank accounts (other than BSBDA) by 28 February 2017, if not already done. In this connection, it may be mentioned that RBI vide circular dated 15 December 2016 has mandated that no withdrawal shall be allowed from the accounts having substantial credit balance/deposits if PAN or Form No.60 is not provided in respect of such accounts. Therefore, persons who are having bank account but have not submitted PAN or Form No.60 are advised to submit the PAN or Form No. 60 to the bank by 28.2.2017.

The banks and post offices have also been mandated to submit information in respect of cash deposits from 1 April 2016 to 8 November 2016 in accounts where the cash deposits during the period 9 November 2016 to 30 December 2016 exceeds the specified limits.

It has also been provided that person who is required to obtain PAN or Form No.60 shall record the PAN/Form.No.60 in all the documents and quote the same in all the reports submitted to the Income-tax Department.

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Aurobindo Pharma in spotlight after securing USFDA approval for Levetiracetam
Jan 09,2017

Aurobindo Pharma announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Levetiracetam in Sodium Chloride Injection, 500 mg/100 mL (5 mg/mL), 1000 mg/100 mL (10 mg/mL), and 1500 mg/100 mL (15 mg/mL) (single-use bags). Aurobindos Levetiracetam in Sodium Chloride Injection is a generic equivalent of HQ Specialty Pharma Corps Levetiracetam in Sodium Chloride Injection. The product will be launched in January 2017. The announcement was made on Saturday, 7 January 2017.

Levetiracetam in Sodium Chloride Injection is a CNS drug and indicated for partial onset seizures in adults (16 years and older) with epilepsy; myoclonic seizures in adults with juvenile myoclonic epilepsy; primary generalized tonic-clonic seizures in adults with idiopathic generalized epilepsy. The approved product has an estimated market size of $32 million for the twelve months ended November 2016, according to IMS.

Separately, Aurobindo Pharmas wholly owned step-down subsidiary Agile Pharma B.V., Netherlands announced entering into a binding agreement to acquire 100% shareholding in Generis Farmaceutica S.A for 135 million euro from Magnum Capital Partners. Generis is engaged in manufacture and sale of pharmaceutical products in Portugal.

BEML said that the Government of India, Ministry of Defence, has communicated in-principal approval of the Cabinet Committee on Economic Affairs (CCEA) of the Government of India, for strategic disinvestment of 26% equity shares in BEML out of Government of India shareholding of 54.03%. The shareholding would be sold to the strategic buyer/s to be identified by the Government of India by following due procedure. The announcement was made after market hours on Friday, 6 January 2017.

Indian Overseas Bank announced fixation of the marginal cost of funds based lending rate for all rupee loans and advances including renewals for various tenors with effect from 7 January 2017. The MCLR for overnight loans was fixed at 8.45%. The rate for one month was fixed at 8.5% and for three months it was fixed at 8.55%. The MCLR on 6-month loans is 8.6% and for one-year loans the rate is 8.65%, the bank said. The MCLR for two-year loans was fixed at 8.75% and the MCLR for three-year loans was fixed at 8.85%, it added. The announcement was made after market hours on Friday, 6 January 2017.

Vijaya Bank announced fixation of the marginal cost of funds based lending rate for all rupee loans and advances including renewals for various tenors with effect from 10 January 2017. The MCLR for overnight loans was fixed at 8.45%. The rate for one month was fixed at 8.5% and for three months it was fixed at 8.55%. The MCLR on 6-month loans is 8.6% and for one-year loans the rate is 8.65%, the bank said. The MCLR for two-year loans was fixed at 8.65% and the MCLR for three-year loans was fixed at 8.75%, it added. The announcement was made on Saturday, 7 January 2017.

JSW Energy said that the company has secured an order from Power Company of Karnataka (PCKL) for supply of 650 megawatts (MW) upto 31 May 2017 for short term sale of power. The announcement was made after market hours on Friday, 6 January 2017.

Rashtriya Chemicals and Fertilizers (RCF) said that in terms of the guidelines issued by the Reserve Bank of India (RBI), the company has issued Commercial Paper for Rs 75 crore on 6 January 2017, in favour of HDFC Bank, having maturity date as 30 March 2017. The announcement was made after market hours on Friday, 6 January 2017.

Apcotex Industries said that the workmen union at the companys Taloja Plant has given notice of strike effective 9 January 2017. The management is making all efforts to settle the issue amicably. The management has also made all the necessary arrangements to try and ensure that the production activities are not hampered in any way and will try and ensure to maintain normal level of operations during this period. The announcement was made after market hours on Friday, 6 January 2017.

Mirc Electronics said that preferential issue committee of the company has allotted 1.55 crore equity shares Rs 14.66 per share to BENNETT COLEMAN & CO., being person other than promoter and /or promoter group on preferential basis on 6 January 2017. The announcement was made after market hours on Friday, 6 January 2017.

S H Kelkar and Company said that the companys subsidiary, Keva Flavours (KFL), has acquired business undertaking of Gujarat Flavours Private (GFPL) comprising of flavours division on 2 January 2017 in accordance with the business transfer agreement executed between KFL and GFPL on 26 October 2016. The announcement was made after market hours on Friday, 6 January 2017.

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Beeyu Overseas to announce December quarter results
Jan 07,2017

Beeyu Overseas announced that the meeting of Board of Directors of the Company will be held on 31 January 2017, inter alia, to consider and take on record, the unaudited Financial Results for the quarter ended 31 December 2016.

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Board of Banaras Beads to consider December quarter results
Jan 07,2017

Banaras Beads announced that a Meeting of Board of directors of the Company has been convened on 24 January 2017, to consider and take on record the Un-audited Financial Results (Provisional) and Limited Review Report for quarter ended on 31 December 2016 and compliance of other Provisions of the Listing Agreements.

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Board of DCB Bank to consider Q3 and 9M results
Jan 07,2017

DCB Bank announced that in respect of the Board Meeting scheduled on 14 January 2017 to consider, inter alia, approval of Unaudited Financial Results (Provisional) for the 3rd Quarter and the Nine Months ended 31 December 2016.

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Board of Eimco Elecon (India) to consider Q3 and 9M results
Jan 07,2017

Eimco Elecon (India) announced that a Board Meeting of the Company will be convened on 07 February 2017 to consider and approve the Unaudited Financial Results (both Standalone and Consolidated) of the Company for the quarter and nine months ended on 31 December 2016.

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Darshan Orna announces change in directorate
Jan 07,2017

Darshan Orna announced that the Company have appointed Dinesh Hiran as an Additional Director of the Company and Manoharbhai Chunara has resigned from the post of Director w.e.f. 05 January 2017.

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Emami to announce Q3 results
Jan 07,2017

Emami announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results of the company for the Third Quarter and Nine months ended December 31, 2016 (Q3).

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Burnpur Cement provides financial update
Jan 07,2017

Burnpur Cement announced that the account of the Company with the lenders has become irregular due to non payment of scheduled payment on account of cash flow mismatch as a result of demonetization and depressed market. The matter is under discussion with the lenders and the lead bank is positive on suitable restructuring. The other banks are also in the process to follow the decision of consortium Meeting.

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Board of Parsharti Investment to consider December quarter results
Jan 07,2017

Parsharti Investment announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017, inter alia, to consider the following:

- To take on the record the Unaudited Financial Results for the quarter ended 31 December 2016.

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Sylph Education Solutions appoints company secretary & compliance officer
Jan 07,2017

Sylph Education Solutions announced that the Board has appointed Chhaya Lakhmam as Company Secretary & Compliance Officer of the company with effect from 07 January 2017 and appointment is made in accordance with the provision of sec 203 of Companies Act, 2013.

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Spicy Entertainment & Media to hold EGM
Jan 07,2017

Spicy Entertainment & Media announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 02 February 2017.

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KDDL gets ratings assigned for various debt facilities
Jan 07,2017

KDDL announced that CRISIL has assigned the credit rating for a Long Term Bank Facilities as CRISIL BBB-/Stable, for Short Term Bank Loan facilities as CRISIL A3 and for Fixed Deposits programme as FA-/Stable (reaffirmed).

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