Having pursued The Shipping
Corporation of India Ltd.'s (SCI's) sale process
for well over 9 months now, at this point of time,
in light of the continued uncertainty on the timing
of the sale process, the Company has decided not
to pursue the acquisition of SCI for the time being.
As and when the financial bids for the SCI are
invited, the Company would reexamine the acquisition
of SCI as one of the investment opportunities,
depending on when the bids are invited, evaluation
of specific transactional matters, the business
environment at that time, and SCI's performance
in the interim.
October 14, 2002
A meeting of the Board
of Directors is scheduled to be held on Tuesday,
October 29, 2002 to consider, inter alia, unaudited
financial results (provisional) for the second
quarter ended September 30, 2002 and unaudited
half yearly results for the half year ended September
30, 2002.
September 12, 2002
Record date, November
11, 2002 for taking on record payment of interest,
to debenture holders, of 12.10% Secured Redeemable
Non Convertible Debentures of Rs. 1 Crore each
(PART C TO PART G).
September 12, 2002
Record date, October 7,
2002 for taking on record payment of half yearly
interest, to the debenture holders, of 11.75%
Secured Redeemable Non Convertible Debentures
of Rs. 1 Crore each (PART C TO PART G).
July 30, 2002
Record
date on August 20, 2002 for taking record
of debenture holders for payments of half
yearly interest on 11.75% Secured Redeemable
Non Convertible Debenture of Rs 10 mn.
July 25, 2002
Pursuant to Section 77A(4)
of the Companies Act, 1956,
as 12 months have elapsed from the date
of passing the resolution at the AGM, the Company's
Buyback programme stands closed with effect from
July 25, 2002.
The Company has bought back and extinguished 2,55,94,168 shares from
the open market for a total consideration of Rs.723.54 mn.
