The Hindu Business Line : Corporate developments

Bosch Chassis Systems India Ltd has informed that the shareholders have approved the proposal received from Robert Bosch Gmbh, the parent-holding company of the promoters, to undertake a voluntary de-listing of shares from the Bombay Stock Exchange and National Stock Exchange in accordance with the provisions of the de-listing guidelines and other applicable provisions of law.

Essar Oil Ltd’s shareholders at the EGM held on February 28 have approved issue of $2,00,00,00,000 by issue of equity shares and/or convertible debentures and/or GDSs / ADRs /FCCBs by way of public and/or private offering from domestic/international market(s) and/or, qualified institutions placement and approved enhancement of the borrowing powers of the company from Rs 25,000 crore to Rs 30,000 crore over and above the paid-up capital of the company and its free reserves.

Sadbhav Engineering Ltd has been awarded the contract for execution of Omkareshwar Project Canal System (Phase-III) comprising of Right Bank flow canal from RD 68.92 km to 162.95 km including distribution network up to 40 ha chak on turn-key basis for Rs 310.20 crore.

Subhash Projects & Marketing Ltd has recently been awarded orders by Bangalore Electricity Supply Company Ltd under Swarna Jyothi Scheme in Tiptur, Chitradurga and Hiriyur divisions for a total value of Rs 272.68 crore.

Varun Industries Ltd has received Letter of Award for charter hire of drilling rig of Oil and Natural Gas Corporation Ltd for a period of three years.

The value of the contract is over Rs 50 crore. The company has also received a Letter of Award from ONGC for O&M services of a rig in Karaikal for a period of three years. The value of the contract is Rs 5 crore.

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