The Hindu Business Line : Corporate developments

Our Bureau Amrutanjan Ltd has convened a meeting of the board of directors on October 11 to consider and approve the proposal for buy-back of equity shares.

Dish TV India Ltd has informed that with regard to the proposed rights issue of up to Rs 1,140 crore, a meeting of the board will be held on October 3 to consider the ratio of the rights issue, pricing of the shares to be offered and the record date.

Nestle India Ltd said that the High Court of Judicature at Delhi has on September 30 sanctioned the scheme of arrangement between the company and its shareholders and creditors. The scheme of arrangement between the company and its shareholders and creditors envisages reduction of Rs 43.24 crore lying in the share premium account of the company for consequent payment to the shareholders; and return of Rs 43.08 crore, which was voluntarily transferred to its General Reserve Account between 1981 and 1996, in excess of the prescribed 10 per cent of the profits of the company, for consequent distribution to the shareholders as Special Dividend.

Time Technoplast Limited has informed that the record date for the purpose of subdivision of face value of shares of Rs 10 into 10 shares of Re 1 each would be November 6 instead of November 4.

Tube Investments of India Ltd has divested its equity holding of 26 per cent in BorgWarner Morse Tec Murugappa P Ltd for Rs 20.40 crore in favour of its joint venture partner BorgWarner Morse Tec Inc, USA.

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