Gujarat Heavy Chemicals shareholders gather against promoters

September 9th, 2009 Mumbai/Kolkata, Sept 8 (IBNS) IDEA Cellular, one of the fastest growing telecom service providers, has announced through a notification made to Bombay Stock Exchange that that High Court of Gujarat at Ahmedabad has sanctioned the scheme of Arrangement - Financial Restructuring seeking to adjust amount of non compete fee amounting to Rs. 5439.75 million paid to the erstwhile promoters of Spice Communications Limited against balance in Securities Premium Account of Idea Cellular Limited u/s 391 of the Companies Act, 1956.

June 25th, 2009 AHMEDABAD - The meteorological department declared on Thursday that the monsoon has set over Gujarat except for the Central and Northern districts of the state, with heavy rainfall being predicted in Saurashtra within next 24 hours. "Now we can say that in Gujarat, monsoon has set in the Kutch, Saurashtra and South Gujarat regions, while it is yet to cover Central and Northern parts of the state," said Kamaljeet Ray, Ahmedabad Director of Indian Meteorological Department.

June 25th, 2009 NEW DELHI - There was no progress in southwest monsoon in the country Thursday and the rain-bearing clouds continue to be over southern Gujarat and parts of Maharashtra, an India Meteorological Department (IMD) official said here. "There is no progress in the southwest monsoon and it is over central Arabian Sea, south Gujarat and some parts of Maharashtra," IMD director B.P Yadav told IANS.

May 24th, 2009 NEW DELHI - The board of Reliance Infrastructure, promoted by the Anil Ambani group, Sunday approved issuing up to 43 million preferential shares to its founders and other investors to raise about Rs.4,300 crore ($913 million). In a statement, the company said the equity capital would enhance its net worth to over Rs.16,000 crore and augment its borrowing capabilities to Rs.32,000 crore at a debt-equity ratio of 2:1.

May 14th, 2009 Dow Chemical shareholders OK say on executive payNEW YORK — Dow Chemical shareholders narrowly approved a proposal Thursday to have nonbinding say on executive compensation. The vote at the annual meeting in Midland, Mich., comes after a very tough year for the nation's largest chemicals maker and its chief executive, Andrew Liveris.

May 13th, 2009 MUMBAI - Wind energy major Suzlon Energy Wednesday said its promoters had sold about 30 million shares of the firm, representing two percent of the paid-up captial. Following the sale, the promoters' holding in the company has come down to 63.82 percent, the company said in a regulatory filing.

May 1st, 2009 NEW DELHI - Gujarat Heavy Chemicals (GHCL) promoter and chairman Sanjay Dalmia Friday hit back at a prominent shareholder over allegations of fudging accounts, among other things, saying the person himself was involved in profiting from insider trading activities. GHCL has been mired in controversy after a Securities and Exchange Board of India (SEBI) order barred Dalmia, managing director Ravi Shanker Jalan and company secretary Bhuwneshwar Mishra from trading at Indian equities markets on charges of inflating promoters' shareholding in quarterly filings to exchanges.

April 23rd, 2009 AHMEDABAD - Gujarat Chief Minister and Bharatiya Janata Party (BJP) leader Narendra Modi on Thursday invited Congress President Sonia Gandhi to Gujarat. "Sonia Gandhi is coming to Gujarat for campaigning.

April 20th, 2009 NEW DELHI - The market regulator Monday barred Gujarat Heavy Chemicals Ltd (GHCL) from dealing in the securities market, saying it had inflated its shareholding in its quarterly filings to exchanges. Securities and Exchange Board of India (SEBI) also directed GHCL chairman Sanjay Dalmiya, managing director Ravi Shanker Jalan and company secretary Bhuwneshwar Mishra not to buy, sell or deal in the securities market until further orders, the regulator said in a statement.

April 20th, 2009 NEW DELHI - The market regulator Monday barred Gujarat Heavy Chemicals Ltd (GHCL) from dealing in the securities market, saying it had inflated its shareholding in its quarterly filings to exchanges. Securities and Exchange Board of India (SEBI) also directed GHCL chairman Sanjay Dalmiya, managing director Ravi Shanker Jalan and company secretary Bhuwneshwar Mishra not to buy, sell or deal in the securities market until further orders, the regulator said in a statement.

March 24th, 2009 NEW DELHI - Fat Absorb India has introduced a healthy weight loss programme which does not require dramatic changes in the lifestyle and has been endorsed by several medical practitioners across the world. Fat Absorb is the result of an extensive research that has led to the development of this effective and all-natural weight loss solution.

March 24th, 2009 AHMEDABAD - The Gujarat Congress Monday said Chief Minister Narendra Modi was aiming for 'cheap publicity' while suggesting IPL matches in Ahmedabad during the Lok Sabha polls despite security concerns raised by the director general of police (DGP) of the state. 'The chief minister was suggesting that IPL matches be conducted in Ahmedabad keeping in mind only a few wealthy promoters of the event while overlooking the concerns raised by the DGP of the state,' Gujarat Congress president Siddharth Patel told reporters here Monday evening.

March 2nd, 2009 MUMBAI - In one of India's largest amalgamation deals, Reliance Petroleum will merge with its parent and the country's biggest private company Reliance Industries in what the promoters say would create better synergies in the hydrocarbons space. The boards of the two companies met here Monday to unanimously approve the merger in the ratio of one share of Reliance Industries for every 16 shares of Reliance Petroleum.

January 12th, 2009 AHMEDABAD - As many as 39 memorandums of understanding (MoUs) worth over Rs.41,002 crore (Rs.410.2 billion) in chemicals and petrochemicals sector were signed Tuesday morning, on the final day of the two-day Vibrant Gujarat Global Investors Summit. 'These investments in the chemicals and petro-chemicals sector will help in providing employment to 14,070 persons in different capacities,' Gujarat Energy Minister Saurabhbhai Patel said.

December 22nd, 2008 AHMEDABAD - Despite the global economic slowdown, Gujarat is still on 'investors' radar' and has the potential to take the maximum advantage of the economic situation, Chief Minister Narendra Modi said Tuesday. Laying foundation stone for Dishman Pharma's chemicals and engineering special economic zone (SEZ) at Bavala-Bagodara near here, he said: 'Gujarat is marching on the path of progress when global banks, insurance companies and firms are in the grip of economic crisis.' 'The Delhi-Mumbai Industrial Corridor Project is going to change the contours of industrial development maps.