ITC got possession of 39 acres at Panchla in Howrah district where it would build an integrated food and consumer goods facility and would invest Rs1,000 crore in the foods and consumer goods segment in the state over two-three years
Kolkata: Cigarettes-to-hotels conglomerate ITC said it will invest Rs1,000 crore in food and consumer goods sector in the next two to three years, reports PTI.
The company got the possession of 39 acres last week at Panchla in Howrah district where it would build an integrated food and consumer goods facility, an ITC spokesperson said, adding that it will invest Rs1,000 crore in the foods and consumer goods segment in the state over two-three years.
The land was given by the West Bengal Industrial Infrastructure Development Corporation.
ITC had already got a parcel of 18 acres at Uluberia in
Raj Investments had reduced its stake in Global Boards (now Metroglobal) by 11.87% in 2005 but failed to make the mandatory disclosures
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has imposed Rs4 lakh in penalty on Raj Investments, a former promoter firm of Global Boards (now Metroglobal), for violations of various disclosure norms, reports PTI.
Raj Investments had reduced its stake in the company by 11.87% in 2005 but failed to make the mandatory disclosures.
In its order dated 18th January, SEBI slapped a fine of Rs2 lakh on Raj Investments for not disclosing the reduction in its shareholding/voting rights in Global Boards to the company within four working days.
Besides, SEBI imposed another Rs2 lakh on the entity, as being a promoter it was required to disclose the number and percentage of shares held by it to Global Boards within 21 days from the closing of the financial year, as well as the record date of the company for the purposes of declaration of dividend.
“...hereby impose a consolidated monetary penalty of Rs4 lakh on the noticee, namely Raj Investments, for violation of Regulation...” SEBI said.
A probe by SEBI had found that Raj Investments had reduced its shareholding in Global Boards from 2.30 crore shares, representing 30.87% stake as on quarter ended March 2005, to 1.42 crore amounting to 19% stake as on quarter ended September 2005.
The scrips which could now be shifted to rolling settlement are Elder Projects, Risa International, Mapro Industries, Surya Industrial Corporation, Croitre Industries and Anandam Rubber Company
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) said the stock exchanges may consider shifting securities of as many as six companies to normal trading category from the restricted segment, reports PTI.
The scrips which could now be shifted to rolling settlement are Elder Projects, Risa International, Mapro Industries, Surya Industrial Corporation, Croitre Industries and Anandam Rubber Company.
In 'trade-to-trade' segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.
Additionally, SEBI also advised the bourses to report the regulator about the action taken in this regard in the monthly/quarterly development report.
SEBI said the stock exchanges may consider shifting the scrips of these six companies from the Trade for Trade Settlement (TFTS) to a normal Rolling Settlement as these companies have established connectivity with both depositories - National Securities Depository Ltd ( NSDL) and Central Depository Services Ltd (CDSL).
The shifting is subject to condition that 50% of non-promoter holdings in these companies should be in demat or electronic form.
"The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following: at least 50% of other than promoter holdings are in dematerialised mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement," SEBI said.
For this purpose, the listed companies require to obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange, the regulator said.
In case, an issuer company does not have a separate RTA, it may obtain a certificate in this regard from a practising company Secretary/Chartered Accountant and submit the same to the stock exchange, it added.
"There are no other grounds/reasons for continuation of the trading in TFTS," SEBI said.