I had better offer to exit: Pyramid Saimira promoter

September 22nd, 2009 MUMBAI - The Securities and Exchange Board of India (SEBI) Tuesday revised its takeover norms, making it mandatory for holders of global depository receipts (GDR) or American depository shares (ADS) with voting rights to make an open offer if they acquired 15 percent shares of a public company. Under the existing SEBI takeover code, an entity or individual could not hold more than 15 percent shares in a listed company without making an open offer to acquire an additional 20 percent of that company's shares.

August 31st, 2009 NEW DELHI - The Company Law Board (CLB) on Monday allowed the application of Maytas Infra Limited (MIL) to hand over the management of the company to Infrastructure Leasing and Financial Services Limited (IL and FS). Passing the Order in ht national capital, the Principal Bench of the CLB said that IL and FS shall be the new promoter of the company with immediate effect and that it shall appoint four of its nominees, including the Chairman, on the Board of Directors of the company; and will be in control of the management of the affairs of the company.

August 31st, 2009 NEW DELHI - Infrastructure Leasing and Financial Services Ltd (IL&FS), a leading infrastructure development and finance company, will be the new promoter of Maytas Infra, union Minister for Corporate Affairs Salman Khurshid announced Monday. "IL&FS will be the new promoter of Maytas Infra following an order of the CLB (Company Law Board)," Khurshid told reporters here.

July 5th, 2009 PENANG - Phones are catching up with TVs, and the number of phones being used by 'bottom of the pyramid' households have already outpaced the number of radios and computers in South Asia, researchers have said. LIRNEasia, a Sri Lanka-based Asia-Pacific information and communication technology (ICT) policy and regulation capacity-building organisation, said in India a hundred bottom of the pyramid (BOP) households now had 50 TVs, 38 phones, 28 radios and one computer.

June 19th, 2009 MUMBAI - The Indian capital markets watchdog has unveiled a slew of measures to woo investors to the equities markets. Primary among the reforms announced by the Securities and Exchange Board of India (SEBI) Thursday night was the approval of an "anchor investor", which allows the investor to subscribe up to 30 percent of the quota for institutional investors in an initial public offering (IPO).

May 14th, 2009 NEW DELHI - Two days ahead of the poll results, the Congress party Thursday was upbeat about emerging the single largest party and dismissed exit polls carried out by media organisations. Party spokesman Abhishek Manu Singhvi said the Congress would prove the exit polls wrong by winning many more seats than predicted.

May 14th, 2009 NEW DELHI - Two days ahead of the poll results, the Congress party Thursday was upbeat about emerging the single largest party and dismissed exit polls carried out by media organisations. Party spokesman Abhishek Manu Singhvi said the Congress would prove the exit polls wrong by winning many more seats than predicted.

May 11th, 2009 NEW DELHI - The Election Commission Monday said that opinion and exit polls could be telecast May 13 after the close of voting in the fifth and final round of Lok Sabha elections at 5 p.m. 'Channels are free to air exit polls after the elections are over,' Deputy Election Commissioner R.

April 22nd, 2009 MUMBAI - Tech Mahindra Wednesday announced its open offer for a 20-percent additional stake in Satyam Computer Services at Rs.58 per share, after buying 31 percent equity in the IT bellwether following a global auction. The offer to all existing shareholders of the Hyderabad-headquartered Satyam opens June 12 and closes July 1, the company told the regulators.

April 22nd, 2009 MUMBAI - After buying 31 percent of scam-tainted Satyam Computer Services, Tech Mahindra Wednesday announced an 'open offer' to acquire a further 20 percent stake so that it can get a controlling stake. As per the next steps laid out by the Satyam board, Tech Mahindra announced the 'open offer' to obtain 20 percent at Rs.58 per share for 199,079,413 shares of Satyam, the company said in a regulatory filing.

March 23rd, 2009 BEIJING - Twenty-eight people were jailed Monday by a Beijing court that found them guilty of running an investment scam that defrauded over 22,000 investors. The accused, who all worked for the Yilin Wood Company, were alleged to have defrauded more than 22,000 investors of 1.68 billion yuan ($246 million) by promising high returns on sales of forestry plantations.

February 25th, 2009 CAIRO - Egyptian archaeologists have discovered a 4,000-year-old statue as they carried out routine cleaning work at one of the Giza pyramids. The 149-centimetre-long statue was found Tuesday buried just 40 centimetres below the surface of the sand in the northern part of the King Men-Kau-Re's pyramid (2551-2523 BC).

January 11th, 2009 CHENNAI - The key promoter of city-based entertainment company Pyramid Saimira Theatre Limited, P.S. Saminathan has reduced his stake in the company by six percent to 17.989 percent.

December 22nd, 2008 CHENNAI - Entertainment firm Pyramid Saimira Theatre will lodge a criminal complaint with the police to investigate the origin of the letter purportedly sent by the market regulator asking the firm's promoter to make an open offer at Rs.250 per share, saying it was forged. Addressing the media here Tuesday, Pyramid chairman P.S.

December 22nd, 2008 CHENNAI - The Securities and Exchange Board of India (Sebi) will investigate the origin of the 'issue open offer' advisory, dated Dec 19, sent under its letterhead to Pyramid Saimira Theatre, the market regulator said Tuesday. It also categorically stated that it has not issued any letter to Pyramid Saimira chairman P.S.