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Our Bureau

Coimbatore, Oct. 21 EID Parry India Ltd’s board of directors will consider on October 29 the proposal for buy back of equity shares.

Hindustan Construction Company Ltd has received a letter of intent from Lanco Infratech Ltd, Gurgaon, for execution of civil works at the Teesta Hydro Electric Power Project, Sikkim. The value of the contract is Rs 360.05 crore. The project is to be completed in 45 months from the date of LoI.

PSI Data Systems Ltd’s board of directors at its meeting held on October 21 has approved the proposal received from promoter group to acquire the public shareholding of the company from the market through open offer and to de-list equity shares of the company from BSE.

Sadbhav Engineering Limited has been awarded a project worth Rs 268.34 crore by the Gujarat Industries Power Company Limited.

Siemens Ltd has informed that the scheme of amalgamation of its wholly-owned subsidiary Siemens Industrial Turbomachinery Services Pvt Ltd, Bangalore, with the company has been sanctioned by the High Court vide its order dated September 25. As per the scheme of amalgamation, the appointed date is April 1, 2008, from which date the subsidiary stands merged with the company. Further, the entire business and undertaking of Turbomachinery Services gets transferred to and in the name of the company.

SRF Polymers Ltd’s board of directors has decided to seek the approval of the shareholders through postal ballot for disposal of the engineering plastics and industrial yarn business of the company. The board has also appointed valuers to carry out the valuation of the aforesaid businesses.

Tamilnadu Petroproducts Ltd has said that the Ministry of Environment and Forests has accorded environmental clearance for the proposed 43-MW coal-based captive power plant to be put up by the company on its premises at Manali.

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