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Nila Infrastructures secured contract worth Rs 131.67 crore
Mar 31,2017

Nila Infrastructures has secured contract worth Rs 131.67 crore. The Company has entered into an agreement for construction and implementation of a slum rehabilitation project with Vivyan Infraprojects.

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Metalyst Forgings allots 64 lakh equity shares
Mar 31,2017

Metalyst Forgings announced that the Allotment Committee of Board of Directors of the Company in their meeting held 31 March 2017 has allotted 40,00,000 Equity Shares of face value of Rs. 10/- each, at a price of Rs. 100/- per share including premium of Rs. 90/- per Equity Share, aggregating to Rs. 40 crore to the Promoter group Company i.e. Amtek Auto by way of preferential allotment.

Further, the Company has also allotted 24,00,000 Convertible Warrants, each convertible into, or exchangeable for, one Equity Share of face value of Rs. 10/- each, at a price (including the Warrant subscription price and warrant exercise price) of Rs. 100/- each aggregating to Rs. 24 crore to the Promoter group Company i.e. Amtek Auto by way of preferential allotment.

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Ujaas Energy gets ratings assigned for bank loan facilities
Mar 31,2017

Ujaas Energy announced that CRISIL has assigned CRISIL A- /Stable rating for long term bank loan facilities reflecting adequate degree of safety regarding timely servicing of financial obligations and CRISIL A2+ rating for the short-term bank loan facilities reflecting strong degree of safety regarding timely payment of financial obligations. Further the previous rating was CARE A3+ rating for Short term bank loan facilities and CARE BBB rating for the long-term bank loan facilities.

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IIFL Holdings provides update on subsidiaries
Mar 31,2017

IIFL Holdings provides update -

1.India Infoline Finance (IIFL), the NBFC Subsidiary, made following additional investments during March 2017: a. Infused an additional equity capital of Rs.160 crore in its 100% housing finance Subsidiary i.e. India Infoline Housing Finance; b. Infused additional equity capital of Rs. 50 crore in Samasta Microfinance. With the above, IIFL Finances shareholding in Samasta, a Subsidiary, stands increased to 95.23%.

2. IIFL Wealth Management, a subsidiary of the Company transferred its shareholding (71%) in India Alternatives Investment Advisors Private to its Private shareholders. IIFLW would continue to distribute India Alts AIF products to its Clients.

3.The following Independent Directors of the Company have been appointed as Independent Director on the Material Subsidiaries: a. Nilesh Vikamsey on the Board of IIFL, the NBFC Subsidiary of the Company; Dr. S. Narayan on the Board of IIFL Wealth Finance, a step down subsidiary of the Company.

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Rural Electrification Corporation intimates of sale of NER II Transmission
Mar 31,2017

Rural Electrification Corporation announced that as per the approval of Ministry of Power, 50000 equity shares of NER II Transmission held by REC Transmission Projects Company (a wholly owned subsidiary of Rural Electrification Corporation) and its nominees, have been transferred along with all assets and liabilities of NER II Transmission to Sterlite Gride4 on 31 March 2017.

Hence, the above project specific SPV is not subsidiary of REC Transmission Projects Company.

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ICICI Bank allots 61,460 equity shares
Mar 31,2017

ICICI Bank has allotted 61,460 equity shares of face value of Rs. 2/- each on 30 March 2017 under the Employees Stock Option Scheme, 2000.

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Axis Bank enters into agreement with GUS Holdings B.V.
Mar 31,2017

Axis Bank has signed an agreement with GUS Holdings B.V. for sale of 1,40,00,000 equity shares (10% of total outstanding shares) of face value of Rs 10 per share of Experian Credit Information Company of India (Experian India), to GUS Holding B.V. at Rs 45.7 per share, resulting in a total cash transaction of Rs 64 crore. The transaction is subject to requisite regulatory approvals, including from Reserve Bank of India.

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Phoenix Mills hikes stake in ODPL
Mar 31,2017

Phoenix Mills has further acquired 0.80% equity stake of Vistra on 30 March 2017 and 5.27% equity stake from IIRF on 31 March 2017 in its subsidiary, Offbeat Developers (ODPL). Subsequent to the above acquisition, the shareholding of the Company in ODPL has increased from 77.52% to 83.59%.

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Sandur Manganese & Iron Ores fixes record date for interim dividend
Mar 31,2017

Sandur Manganese & Iron Ores has fixed 15 April 2017 as record date for payment of interim dividend.

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ICT enabled Real Time Monitoring of ICDS instituted in select Anganwadi Centres of high burden districts
Mar 31,2017

Integrated Child Development Services (ICDS) is the flagship program of Government of India for the holistic development of children. The beneficiaries of the programme are children below six years of age and pregnant women & lactating mothers. With a view to bridge the gaps in the Integrated Child Development Services (ICDS) delivery, Ministry of Women & Child Development is implementing ICDS Systems Strengthening and Nutrition Improvement Project (ISSNIP), in 162 high malnutrition burden districts of 8 States viz. Andhra Pradesh, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh covering 3.68 lakh Aanganwadi Centres. Information and Communication Technology enabled Real Time Monitoring (ICT-RTM) of ICDS has been instituted in the Restructured ISSNIP for improving the service delivery in ICDS and ensuring better monitoring and supervision of ICDS implementation at 1,00,000 Anganwadi Centres. It is based on ICDS-Common Application Software (ICDS-CAS) developed especially for this program thereby equipping Aanganwadi Workers with a Smart Phone preinstalled with ICDS-CAS and Sector Supervisors with a Tablet preinstalled with ICDS-CAS. ICT-RTM would help strengthen the ICDS capacity to deliver nutrition services in a better way.

During 2016-17, 6 complaints (three from State of Uttar Pradesh, one from State of Uttarakhand, one from State of Chandigarh and one from State of Orissa) concerning quality of Take Home Ration (THR) were received by the Government. Since Integrated Child Development Service (ICDS) is a Centrally Sponsored Scheme and the overall management & monitoring of the implementation of the ICDS Scheme is done by the concerned State Government, the complaints have been forwarded to the concerned State Governments for necessary action.

No proposal has been finalised to make conditional cash transfer in place of Take Home Ration.

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Insolvency and Bankruptcy Board of India notifies Corporate Voluntary Liquidation Process Regulations
Mar 31,2017

The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred by sections 59, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016, has notified today the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2016. The regulations provide the process from initiation of voluntary liquidation of a corporate person - companies, limited liability partnerships and any other persons incorporated with limited liability - till its dissolution.

A corporate person may initiate a voluntary liquidation proceeding if majority of the directors or designated partners of the corporate person make a declaration to the effect that (i) the corporate person has no debt or it will be able to pay its debts in full from the proceeds of the assets to be sold under the proposed liquidation, and (ii) the corporate person is not being liquidated to defraud any person. If the liquidator is of the opinion that the liquidation is being done to defraud a person or the corporate person will not be able to pay its debts in full from the proceeds of assets to be sold in the liquidation, he shall make an application to the Adjudicating Authority to suspend the process of liquidation and pass any such orders as it deems fit.

The regulations prohibit an insolvency professional from acting as a liquidator for a corporate person if he is not independent of the corporate person. These prohibit partners or directors of an insolvency professional entity of which the insolvency professional is a partner or director from representing other stakeholders in the same liquidation process. These oblige the liquidator, and professional(s) assisting him in liquidation to make disclosures - initial and continuing - about pecuniary or personal relationship with any of the stakeholders or the corporate person.

The regulations specify the manner and content of public announcement, receipt and verification of claims of stakeholders, reports and registers to be maintained, preserved and submitted by the liquidator, realisation of assets and distribution of proceeds to stakeholders, distribution of residual assets, and finally dissolution of corporate person. These oblige a liquidator to preserve a physical or an electronic copy of the reports, registers and books of account for at least eight years after the dissolution of the corporate person, either with himself or with an information utility.

The regulations shall come into effect from 1st April, 2017.

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Shree Pacetronix appoints company secretary
Mar 31,2017

Shree Pacetronix has appointed Priya Singh as Company Secretary and one of the Key Managerial Personnel of the Company w.e.f. 31 March 2017.

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Advance Syntex to hold EGM
Mar 31,2017

Advance Syntex announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 April 2017 .

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Arshiya to hold board meeting
Mar 31,2017

Arshiya will hold a meeting of the Board of Directors of the Company on 4 April 2017.

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Sunstar Realty Development appoints company secretary and compliance officer
Mar 31,2017

Sunstar Realty Development announced that the Board approved the appointment of Prashant Agarwal as Whole Time Secretary and Compliance Officer of the Company with immediate effect.

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