The Hindu Business Line : Corporate developments

Coimbatore, Nov. 1 Birla VXL Ltd has stated that ‘in view of the very adverse market conditions currently prevailing in the garment industry, at the board meeting held on November 1 it has been decided to cease operations at Universal Clothing, a division of the company’.

Cairn India Ltd has said that at the AGM held on September 20, members have given approval for global depository receipts/American depository receipts/foreign currency convertible bonds, equity shares/warrants and/or instruments convertible into equity shares optionally or otherwise for an aggregate sum up to $1,000 million with a green shoe option of 15 per cent or equivalent in Indian and/or any other currency(ies) through public issue(s), private placement(s) or a combination thereof, including by way of initial public offer in US or other countries, so as to enable the company to get listed at any stock exchanges in India and/or Luxembourg/London/New York/Singapore/Hong Kong Stock Exchanges and/or any of the overseas stock exchanges.

GVK Power & Infrastructure Ltd has said that the Mumbai International Airport Private Ltd, an associate company of GVK Power & Infrastructure Ltd, has signed EPC Aagreement with L&T. The EPC contract includes designing, procurement and construction services for the expansion cum modernisation of the Chhatrapati Shivaji International Airport at Mumbai which includes airside work, ancillary facilities and terminal building.