Zodiac, Mayfair merger
The board of Zodiac Clothing Company Ltd has approved the amalgamation of Mayfair Ltd, its subsidiary, with itself at a ratio of 1:2 equity shares. The ratio of one Zodiac share of Rs 10 each for two shares of Mayfair Ltd of Rs 100 each was determined by independent valuers Deloitte Haskins & sells and N. M. Raiji & Co, the company informed the Bombay Stock Exchange. The board also approved appointment of Kanga & Co for initiating necessary steps for completing all formalities relating to the amalgamation. It has in-principle approved the takeover of an industrial establishment of Metropolitan Trading Company situated at Bangalore.
The board of Mascot Systems Ltd (MSL) has approved a proposal to acquire a German company as a 100 per cent subsidiary of the MSL. The board also gave its nod to open branch office in Australia and open 100 per cent subsidiary in Mauritius, the company informed the Bombay Stock Exchange.
Union coal and mines minister Uma Bharti has inaugurated the ‘extension’ of ‘feeder breaker’ at Dipka Mine during her visit to South Eastern Coalfields Limited (SECL). Meanwhile minister of state for coal, mines, law and justice Ravi Shankar Prasad inaugurated the Bagdeva under ground mine, which will contribute 0.45 MT of coal annually.
Eonour Technologies has received three orders. The Hyundai order is for embedded technology for panel boards in cars. Hero group’s order pertains to an autonomisation of dealers network of Hero Puch. The third order is bagged by System Telecom and Dataservices, a 100 per cent subsidiary of Eonour Technologies from 340 schools for a networking assignment. The project has been outsourced by NIIT and Wipro for offering networking solutions to these schools, a release said.
Kotak Mahindra Mutual Fund has declared a dividend of Re 0.0122 per unit under the K Liquid scheme. The record date for the dividend was September 16. The cum-dividend was Rs 10.0237, a releases said.
The Computer Society of India has tied up with Nihilent Technologies to present a series of awards for best practices in e-governance, a press release said.
Tata Consultancy Services (TCS) and JYI Risk Management Services of Australia have tied up to offer credit risk model, Riskscan and Enterprise Wide Risk Management (EWRM) for Indian banking companies.
National Fertilizers Ltd’s (NFL) Bathinda unit has won two national safety awards for 2000. It achieved about sixteen million accident-free man-hours during 2000.