Infosys after market hours yesterday, 21 September 2015, announced that it has signed a three-year agreement with TOMS to become its partner to maintain and develop its digital platform. The agreement will enable TOMS to streamline the management of its web-based properties and introduce automation technologies to lower overall support and development costs, Infosys said in a statement.
TCS said after market hours yesterday, 21 September 2015 that pursuant to the scheme of merger of CMC with the company, TCS has fixed 1 October 2015 as the record date to determine the names of the public shareholders of CMC (i.e. shareholders other than TCS) who would be entitled to receive the equity shares of TCS in lieu of equity shares held in CMC. As per the scheme, all equity shares held by TCS in CMC constituting 51.12% of the total paid-up share capital of CMC shall automatically get cancelled. For the balance shareholding of 48.88% held by the public shareholders in CMC, 79 equity shares of Rs 1 each of TCS will be issued and allotted as fully paid up equity shares for every 100 equity shares of Rs 10 each held by the public shareholders of CMC as on the record date.
TCS also said that High Court of judicature at Bombay has sanctioned the scheme of amalgamation between CMC (CMC or Transferor Company) and TCS (TCS or Transferee Company) on 14 August 2015 with respect to petition filed by TCS. Further, the High Court of judicature at Hyderabad for the states of Telangana and Andhra Pradesh had sanctioned the scheme on 20 July 2015 with respect to petition filed by CMC.
IDFC announced after market hours yesterday, 21 September 2015, that the company has fixed record date as 5 October 2015 for the purpose of entitlement of shares of IDFC Bank. Pursuant to the demerger scheme, IDFC Bank will issue and allot shares to the shareholders of IDFC, whose name is recorded in the register of members of IDFC as on the record date, 1 share of IDFC Bank for every 1 share held by them in IDFC.
Castrol India said after market hours yesterday, 21 September 2015 that it has decided to permanently close its Wadala, Mumbai facility, subject to statutory compliances as may be applicable. The company performed techno-commercial evaluation of the activities carried out at Wadala and based on the outcome it has been decided to close the said facility, Castrol India said. The company does not carry out any production/manufacturing activity at Wadala facility, Castrol India said. The company's 'Technology Centre' is currently housed at Wadala, which provides R&D support to the business and the decision about carrying out the said activities at different location will be taken in due course after thorough evaluation, Castrol India said. This closure does not have any impact on company's financial performance or its operations, Castrol India added.
MMTC announced after market hours yesterday, 21 September 2015, that the board of directors of the company in its meeting held on 11 September 2015 has approved the proposal for sale of 10% of ICEX equity i.e. 5% each, to the two bidders who participated in the global tender against the present holding of 26% in ICEX by MMTC at Rs 10 per share subject to the approval by the Government and Forward Markets Commission.
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State Bank of Mysore after market hours yesterday, 21 September 2015 said it has revised downward the base rate of the bank from 10% to 9.9% effective from 21 September 2015. The Bench-Mark Prime Lending continues to be at the same level of 15%, State Bank of Mysore said.
Hotel Leela Venture will be in focus. With regard to news item titled "Leelaventure may sell 24% stake to cut debt", Hotel Leela Venture clarified after market hours yesterday, 21 September 2015, that it is in discussion with various investors and lenders, for raising funds to meet debt servicing obligations. However, the company has not entered into agreement with any of them, Hotel Leela Venture said. The company and its senior management continue to evaluate proposals and announcement, if any, will be made to the stock exchanges at an appropriate time, Hotel Leela Venture said.
MindTree said after market hours yesterday, 21 September 2015 that it has been selected by MoInlycke Health Care, a world-leading provider of single-use surgical and wound care solutions, to enhance business efficiency using the SAP application suite. This will help MoInlycke Health Care optimize the time to market of its products, MindTree said in a statement.
Oracle Financial Services Software (OFSS) after market hours yesterday, 21 September 2015 said that its subsidiary has filed an appeal before the court of competent jurisdiction, against an earlier award passed by the Arbitrator. It may be recalled that OFSS had on 18 June 2015 said that in an arbitration proceeding between one of its subsidiaries and one of its vendors, an award has been passed by the Arbitrator against OFSS' subsidiary for a sum of about Rs 80.40 crore inclusive of interest.
Energy Development Company announced after market hours yesterday, 21 September 2015, that a meeting of the board of directors of the company will be held on 29 September 2015, to consider preferential issue of shares/ warrants to non-promoters / promoters / promoters group / associates.
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