Moser Baer - Outcome of Board Meeting
Moser Baer India Ltd has informed that the Board of Directors of the Company at its meeting held on March 27, 2008, has decided to sell on going concern basis, the entertainment business of the Company to Moser Baer Entertainment Ltd, a subsidiary Company, (subject to necessary consents, approval of the shareholders of the Company and subject to other statutory approvals, if any).
Cimmco Birla Ltd - Updates
Cimmco Birla Ltd has informed that: "We understand from information available in the public domain that one M/s. Titagarh Wagons Limited, purportedly acting on the basis of an agreement reported to have been entered into by them with various labour unions of Cimmco Birla Limited (the Company), has been possibly making certain payments under such arrangement. For abundant caution it is intimated that the Company has no arrangement with the said M/s. Titagarh Wagons Limited".
LG Balakrishnan shareholders approve Scheme of Arrangement
LG Balakrishnan & Bros Ltd has informed that the Scheme of Arrangement between LG Balakrishnan & Bros Ltd the demerged Company, LGB Forge Ltd, the resulting Company and their respective shareholders for the demerger of Forging Division was approved on March 27, 2008 by the shareholders unanimously at the Extra Ordinary General Meeting as per the directions of the Hon'ble High Court of Judicature at Madras. The meeting was presided over by Shri. B Vijayakumar, Managing Director who was appointed as Chairman of the meeting by the Hon'ble High Court.
The Company would take necessary steps for filing the petition before the Hon'ble High Court of Madras for its approval.
IDBI - Updates
Industrial Development Bank of India Ltd (IDBI) has informed that the Resolution passed by the Board by circulation on March 12, 2008, accorded to conduct a Postal Ballot to seek approval of the members of the Company by a Special Resolution in terms of Section 21 of the Companies Act, 1956, for changing the name of the Company to "IDBI Bank Ltd".
Shri. S N Ananthasubramanian of M/s. S N Ananthasubramanian & Co., Company Secretaries, who has given his consent to act as Scrutinizer appointed as Scrutinizer for the period from the date of appointment till completion of the Postal Ballot process to conduct the Postal Ballot of the Company.
The last date for receipt of postal ballot forms be fixed as April 19, 2008 and the date for declaration of result of the Postal Ballot by Chairman be fixed as April 25, 2008.
Centurion Bank of Punjab - Outcome of EGM
Centurion Bank of Punjab Ltd has informed that the shareholders at the Extra Ordinary General Meeting (EGM) of the Bank held on March 27, 2008, have approved the Scheme of Amalgamation of Centurion Bank of Punjab Ltd with HDFC Bank Ltd, subject to the approval of the Reserve Bank of India. The proposal was approved by the requisite majority as per the provisions of Section 44A of the Banking Regulation Act, 1949.
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