The Hindu Business Line : Corporate developments

Coimbatore, May 21 Gujarat State Financial Corporation has informed that in order to reduce the work force and curtail expenses, the company has introduced a scheme of voluntary retirement to the employees. The scheme shall be operative for a period of three months — from May 12 to August 11.

Himalya International Ltd’s board of directors has given its consent for setting up a Food Park SEZ in Gujarat.

Housing Development & Infrastructure Ltd (HDIL) has informed that its board of directors meeting held on May 21 has approved issue of bonus shares in the ratio of 2:7 and increase in FII limit.

Macmillan India Ltd’s board of directors approved the formation of a restructuring committee from among its members to examine plans and proposals for strategic re-structuring of the company’s businesses. A meeting of the committee is proposed to be held on May 23 in Mumbai.

Unity Infraprojects Ltd has said that it has received two orders aggregating to Rs 383 crore from the Haryana State Roads and Bridges Development Corporation Ltd.

Unitech Ltd has informed that the Department of Telecommunications, Ministry of Communications & Information Technology has issued a letter on May 21 to the subsidiary company for allotment of 4.4 MHz of spectrum in 1800 MHz GSM band with respect to the Kerala Service Area.

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