The Hindu Business Line : Corporate developments

Coimbatore, Oct. 17 Deccan Chronicle Holdings Ltd’s board of directors will meet on October 26 to consider, among others, a proposal for buy-back of shares and private placement of equity in its 100 per cent subsidiary Sieger Solutions Ltd.

Firstsource Solutions has decided to defer the date for consideration of financial results of the company for the quarter ending September 30 to October 29.

The board, at its meeting to be held on October 23, will consider the issue of securities through ADR/GDR / FCCBs, up to $ 300 million subject to regulatory approvals.

JK Cement has completed financial closure of 3 million tpa grey cement plant being put up at Mudhol in Karnataka by its wholly owned subsidiary Jaykaycem Ltd.

The project cost of Rs 1,000 crore, as appraised by IDBI Bank Ltd, is to be financed by rupee term loan of Rs 525 crore and balance Rs 475 crore as promoter’s contribution to be arranged by the company out of internal accruals. (IDBI Bank has syndicated rupee term loan for the project). The project is scheduled to be completed by March, 2009.

Patni Computer Systems has said that Patni Computer Systems Inc, a leading global IT services provider announced a multi-year $200 million deal with The Carphone Warehouse, a UK FTSE 100 company.

Patni will become a key technology partner providing integrated services across consulting, systems integration, application development and maintenance.

In addition, Patni will also be a key partner to The Carphone Warehouse for developing next-generation systems for its global telecom and retail operations.

These services will be delivered across pan-European locations by Patni’s global consultants and global delivery centres in India.