Century Plyboards (India) Ltd's board of directors has approved a scheme of arrangement between CPIL and Star Ferro and Cement Limited (SFCL) and their shareholders providing for demerger of the ferro alloys and cement division of CPIL to SFCL with effect from April 1, 2011 (the appointed date).

Kajaria Ceramics Ltd has said the conversion of part of the ceramic-tile production facility at Sikandrabad (UP) into vitrified tile has been successfully completed and it started commercial production on March 28 with an effective capacity of 2.6 million sq. m annually.

Punjab Woolcombers Ltd has come out of the Board for Indsutrial and financial Reconstruction's purview and is free from debt now.

Shriram City Union Finance Ltd's board on March 24 decided to offer, issue and allot non-convertible debentures in one or more tranche of varying face values aggregating to a maximum of Rs 750 crore (including an option to retain over-subscription for issuance of additional debentures, for private placement or to the public).

SREI Infrastructure Finance Ltd has said it has been classified by the RBI as an infrastructure finance company.

Tata Sponge Iron Ltd's board of directors has decided to install an AFBC-based 25 MW power plant, subject to approvals. The project will be financed with internal funds and borrowing. On completion, the installed capacity for power generation will increase from 26 MW to 51 MW.

The SEBI has issued certificate of registration to the subsidiary of Union Bank of India , Union KBC Mutual Fund, on March 23 and granted approval to the subsidiary of the bank, Union KBC Asset Management Company Private Ltd, to act as an asset management company to Union KBC Mutual Fund.

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