Tuesday, 13 December 2016

Corporate News Updates : 13 Dec 2016

Max India announced that the Board of Directors of the Company on 13 December 2016 took note of the resignation of Sanjeev Mehra from the Board of Directors of the Company effective 08 August 2016. Simultaneously, the position held by Lavanya Ashok as Alternate Director to Sanjeev Mehra on the Board of the Company stands vacated.

KRBL announced that as a forward integration step, the Company has set up a Furfurly Alcohol plant at the total cost of Rs 7 crore.
Furfurly Alcohol is a liquid organic chemical, manufactured from Furfurly oil which is produced from rice husk which arises as a by-product during the course of business activity of the company. The commercial production of this furfurly alcohol is expected to commence shortly.

Royal Orchid Hotels announced the opening of two hotels under its brand `Regenta Inn` in Vadodara and Kolkata slated to open on 15 December 2016.

Sybly Industries announced that Sahil Agarwal has resigned from the post of the Company Secretary of the Company w.e.f. 12 November 2016.
The Resignation was accepted by the Board on 08 December 2016. He also ceased to be Compliance Officer of the Company.

Murad Properties & Projects announced that Alpesh Maheshbhai Gupta appointed as an Additional director holding the category of an Executive (Non Promoter) Director and Mukund Mahendrakumar Shah appointed as an Independent Director holding the category of Non-Executive (Non Promoter) Director w.e.f. 13 December 2016.
And Pankaj Dave has been resigned from directorship of the Company w.e.f. 13 December 2016.

NTPC has decided to raise Rs. 3925 crore through private placement of secured non-convertible debentures at a coupon of 7.37% p.a. with a door to door maturity of 15 years on December 14, 2016. The proceeds will be utilized to finance capital expenditure / refinancing the debt requirement in on-going projects and other general corporate requirements.

Visaka Industries announced that the Credit Rating agency CARE Ratings has reviewed the Company`s Fixed Deposit (FD) Programme as well as Bank Facilities along with the operational and financial performance and reaffirmed the same.
FD Programme (Rs 25 crore) - CARE A+(FD) (Reaffirmed)
Long term bank facilities (Rs 285.91 crore) - CARE A+ (Reaffirmed)
Short term bank facilities (Rs 185 crore) - CARE A1+ (Reaffirmed)
Long term/ short term bank facilities (Rs 118.50 crore) - CARE A+/ CARE A1+ (Reaffirmed)

Seqrite, the Enterprise Security Solutions brand by Quick Heal Technologies announced that its Endpoint Security (EPS) solution has received a high score of 17.5/18 in AV-TEST Institute`s (independent security testing labs) September-October 2016 results.

Wockhardt announced that UK MHRA has since confirmed that the Company`s manufacturing unit at Kadaiya, Daman complies with the principles and guidelines of Good Manufacturing Practices. In view of this, the approval status of the said unit continues.

Power Grid Corporation of India announced that POWERGRID Warora Transmission, a wholly owned subsidiary of Power Grid Corporation of India, secured though Tariff Based Competitive Bidding (TBCB), has successfully completed the element - LILO of existing Seoni-Bina 765kV S/C line at Gadarwara STPP and declared the same for Commercial Operation on 30 November 2016. 

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