Policy holders of pure term insurance products can look forward to more reasonable premiums as the Insurance Regulatory and Development Authority (IRDA) slashes the mandatory solvency margins by two-thirds for companies offering these products. The pure term products, which account for a little share in total insurance market, give simple life cover and companies could design products, which could achieve various segments of the population so as to meet their insurance requirements.

To improve the insurance penetration, the regulator had conceived various factors including the impact of life-insurers capital requirement under the solvency margin regulation and the need for reviewing the solvency margin required for pure term products. The proposed required solvency margin at a lower level for pure term products will give significant relief to life insurers, both under individual and group products. The Authority had modified the first factor and second factor, with respect to non-linked business, in working out the required solvency margin in such a way that it would be brought down by about two-thirds.

[via]

Allied Digital Services Ltd has informed that the Board of Directors of the Company at its meeting held on March 11, 2008, inter alia, has approved the following:

1. Enhance the borrowing limit of the Company from the existing limit of Rs 100 Crores to Rs 750 Crores subject to the approval of the Shareholders of the Company.

2. Increase the Authorised Share Capital of the Company from Rs 20 Crores to Rs 25 Crores subject to the approval of the Shareholders of the Company.

3. Issue Foreign Currency Convertible Bonds, Depository Receipts and /or other appropriate securities up to an amount not exceeding USD 100 Million or its equivalent in International or Domestic currency subject to the approval of the Members and subject to the approval of the concerned authorities as applicable

4. Issue Equity Shares or Fully Convertible Debentures, partly Convertible Debentures or any security other than warrants which are convertible into or exchangeable with the Equity Shares for an aggregate sum upto USD 100 Million or its equivalent in International or Domestic Market to qualified Institutional buyers (as defined by SEBI (DIP) Guidelines, 2000) pursuant to a qualifies Institutions placement, as provided in the Chapter XIII A of SEBI (DIP) Guidelines, 2000.

5. Invest in the Equity Shares of Digicomp Complete Solutions Pvt Ltd, a Company based in Bangalore and engaged in the business of Technical BPO, Reverse Logistics, Asset Recovery and RMA Services, so as to acquire at least 51% controlling interest in the said Company.

6. Ratification of the Employee Stock Option Scheme 2007 (ESOP 2007) of the Company (pre-IPO scheme) by the members, pursuant to Regulation 22.2A (a)(ii) of the SEBI (Employee Stock Option Scheme And Employee Stock Purchase Scheme) Guidelines, 1999.

[Via]

European and US banks will move more IT work to cheaper countries to cut budgets, according to the head of Infosys, the Indian software giant. The move could herald further job cuts in the City. Wages for computer programmers have spiralled upwards in London in recent years amid fierce competition among banks and a dearth of domestic talent. The trend helped fuel a 6 per cent rise in global spending on IT by banks last year, to an estimated £170 billion. Lower-skilled call-centre work may also be affected.

Budget decisions are being delayed as firms across all sectors tighten spending and decide whether they can make do without upgrading the technology that underpins their businesses, he added. Those banks where leading executives have been forced to step down in the wake of the US sub-prime crisis are being especially indecisive, he said.

HEG Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 03, 2008, have unanimously approved the following:

1. By way of special resolutions:-

To create, offer, allot and issue on preferential basis

i. 60,00,000 Warrants of Rs 365/- each aggregating to Rs 2,19,00,00,000/- (Rupees Two Hundred Nineteen Crores Only) with option of conversion of each Warrant into One Equity Share of Rs 10/ each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors.

ii. 3,40,000 Warrants of Rs 365/- each aggregating to Rs 12,41,00,000/- (RupeesTwelve Crores Forty One Lacs Only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Employees of the Company, Group Companies and Associates Companies;subject to the compliance of applicable laws and provisions in this regard.

2. By way of ordinary resolution:-

Appointment of Mr. R C Surana, Executive Director of the Company for a period of 5 (Five) years w.e.f. January 29, 2008.
[Via]

Mahindra Forgings Ltd has informed that the Remuneration / Compensation Committee at its meeting held on February 26, 2008 has granted 4,03,000 options under the Companys Employee Stock Option Scheme to certain eligible employees of the Company.

Details of the options granted are as follows:

1. a. Number of options granted at exercise price of Rs 83/- per option: 3,91,000 Options.

b. Number of options granted at exercise price of Rs 197/- per option: 12,000 options.

2. Number of ordinary shares covered under the option granted : 4,03,000 equity shares of Rs 10/- each.

3. Vesting period : Minimum one year from the grant of options.

4. Exercise period : Within a period of five years from the date of vesting.

The Remuneration / Compensation Committee considered and approved the Grant of Options to the employees which shall vest in four installments in the following manner:

i. 25% of the total number of Options granted on February 26, 2009.

ii. 25% of the total number of Options granted on February 26, 2010.

iii. 25% of the total number of Options granted on February 26, 2011.

iv. 25% of the total number of Options granted on February 26, 2012.

The grants have been made as per the terms and conditions of the Companys Employee Stock Option Scheme.

Via :

DCW Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:

 Based on Managements review of the suspension of work on Solvay Tower and after a detailed study, justifying the need to add a lot of additional equipment requiring capital expenditure, the Solvay Tower are being held as capital work in progress. Interest of Rs 57.62 lacs relating to the quarter has been capitalized.

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Patel Integrated Logistics Ltd has ……………………………..formed BSE that an Extra Ord……………………………..ary General Meet……………………………..g (EGM) of the members of the Company will be held on January 11 2008 ……………………………..ter alia to transact the follow……………………………..g bus……………………………..ess

1. To create offer issue and allot upto 1800000 Equity Shares of Rs 10/each and upto 800000 Equity Warrants [hav...................................g option to apply for and be allotted upto 800000 Equity Shares i.e. one Equity Share per Equity Warrant] of face value of Rs 10/…………………………….each to be subscribed by any person whether he ……………………………..she be a shareholder or not ……………………………..clud……………………………..g but not limited to ……………………………..dividuals Firms Companies Bodies Corporate ……………………………..dian F……………………………..ancial ……………………………..stitutions Banks Foreign ……………………………..stitutional ……………………………..vestors Non Resident ……………………………..dians Overseas Corporate Bodies…. Mutual Funds Strategic ……………………………..vestors and ……………………………..or other entities on preferential basis …………………………….. one or more modes or …………………………….. comb……………………………..ation thereof and …………………………….. one or more tranches and on such terms and conditions as the …………………………….. may deem fit subject to necessary provisions & approvals……

2. To create issue offer and allot on private placement basis to Qualified ……………………………..stitutional Buyers (QIBs) Equity Shares Preference Shares and ……………………………..or Fully Convertible Debentures ……………………………..Partly Convertible Debentures ……………………………..Convertible Preference Shares and ……………………………..or any other security ……………………………..f……………………………..ancial ……………………………..strument which is convertible at a later date ……………………………..to Equity Shares of the Company other than Equity Warrants on such terms and conditions ……………………………..clud……………………………..g pric……………………………..g of such ……………………………..struments as the …………………………….. may deem fit provided that such terms and conditions shall be subject to Chapter XIII A of the Securities and Exchange …………………………….. of ……………………………..dia (Disclosure and ……………………………..vestor Protection) Guidel……………………………..es 2000 as amended to date of such other Guidel……………………………..es. Rules Regulations prevalent at the time of mak……………………………..g such placement giv……………………………..g the provisions for Qualified ……………………………..stitutional Placement provided further that the aggregate of the proposed placement along with previous placements made …………………………….. the same f……………………………..ancial year if any shall not exceed five times the net worth of the Company as per the audited balance sheet of the f……………………………..ancial year immediately preced……………………………..g such placement subject to necessary provisions & approvals.

3. Authority to the …………………………….. of Director for borrow……………………………..g from time to time any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obta……………………………..ed or to be obta……………………………..ed from the Company’s bankers …………………………….. the ord……………………………..ary course of bus……………………………..ess) may exceed the aggregate of the paid-up capital of the Company and its free reserves that is to say reserves not set apart for any specific purpose provided that the total amount so borrowed by the …………………………….. shall not at any time exceed the limit of Rs 100 crores.

Via : www.bseindia.com has ……………………………..formed BSE that an Extra Ord……………………………..ary General Meet……………………………..g (EGM) of the members of the Company will be held on January 11 2008 ……………………………..ter alia to transact the follow……………………………..g bus……………………………..ess

1. To create offer issue and allot upto 1800000 Equity Shares of Rs 10/each and upto 800000 Equity Warrants [hav...................................g option to apply for and be allotted upto 800000 Equity Shares i.e. one Equity Share per Equity Warrant] of face value of Rs 10/…………………………….each to be subscribed by any person whether he ……………………………..she be a shareholder or not ……………………………..clud……………………………..g but not limited to ……………………………..dividuals Firms Companies Bodies Corporate ……………………………..dian F……………………………..ancial ……………………………..stitutions Banks Foreign ……………………………..stitutional ……………………………..vestors Non Resident ……………………………..dians Overseas Corporate Bodies…. Mutual Funds Strategic ……………………………..vestors and ……………………………..or other entities on preferential basis …………………………….. one or more modes or …………………………….. comb……………………………..ation thereof and …………………………….. one or more tranches and on such terms and conditions as the …………………………….. may deem fit subject to necessary provisions & approvals……

2. To create issue offer and allot on private placement basis to Qualified ……………………………..stitutional Buyers (QIBs) Equity Shares Preference Shares and ……………………………..or Fully Convertible Debentures ……………………………..Partly Convertible Debentures ……………………………..Convertible Preference Shares and ……………………………..or any other security ……………………………..f……………………………..ancial ……………………………..strument which is convertible at a later date ……………………………..to Equity Shares of the Company other than Equity Warrants on such terms and conditions ……………………………..clud……………………………..g pric……………………………..g of such ……………………………..struments as the …………………………….. may deem fit provided that such terms and conditions shall be subject to Chapter XIII A of the Securities and Exchange …………………………….. of ……………………………..dia (Disclosure and ……………………………..vestor Protection) Guidel……………………………..es 2000 as amended to date of such other Guidel……………………………..es. Rules Regulations prevalent at the time of mak……………………………..g such placement giv……………………………..g the provisions for Qualified ……………………………..stitutional Placement provided further that the aggregate of the proposed placement along with previous placements made …………………………….. the same f……………………………..ancial year if any shall not exceed five times the net worth of the Company as per the audited balance sheet of the f……………………………..ancial year immediately preced……………………………..g such placement subject to necessary provisions & approvals.

3. Authority to the …………………………….. of Director for borrow……………………………..g from time to time any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obta……………………………..ed or to be obta……………………………..ed from the Company’s bankers …………………………….. the ord……………………………..ary course of bus……………………………..ess) may exceed the aggregate of the paid-up capital of the Company and its free reserves that is to say reserves not set apart for any specific purpose provided that the total amount so borrowed by the …………………………….. shall not at any time exceed the limit of Rs 100 crores.

Via : www.bseindia.com

Geometric Ltd has announced that Geometric Technologies, Inc. (formerly TekSoft, Inc.), an industry leader in developing advanced manufacturing software, recently held reseller conferences in America, Europe and Asia………………………

Mike Coleman, CEO of Geometric Technologies, hosted all the meetings and reiterated the Companys gratitude and continuing support to the Value Added Resellers (VARs) for promoting and supporting CAMWorks®. Commenting on the outcome of the meetings, he said, With over 50 enhancements in CAMWorks 2008, our VARs were excited to learn how these new capabilities can help their customers to machine faster and more accurately. Our resellers are the first line of support for our customers and the training sessions prepared them to provide quality support services and training. In addition to the CAMWorks 2008 rollout, we outlined our plans for CAMWorks 2008EX and CAM Works 2009. This will help our VARs to prepare for supporting the next major releases……………………..

Geometric Technologies has also added new VARs in Europe and Asia to strengthen its operations in these regions…………………….

CAM Works is a SolidWorks Certified Gold CAM product with state-of-the-art machining capabilities seamlessly integrated into SolidWorks 3D mechanical design software since 1997. The combination of the latest innovations in CAMWorks 2008 and Solid Works excellence in design continue to make CAM Works a premier CAM solution…………………………..

CAMWorks can be purchased to run with SolidWorks or as a cost-effective package - CAM Works Solids, a standalone version of CAMWorks, with integrated solid modeling capabilities……………………………
Read More: raga direct.com

GTC Industries Ltd has provide in BSE that Board of Directors in this Company at its conference held on December 15, 2007, inter alia, they have measured and permitted asset of Rs 20 Cores for joint growth of property, i.e. manufacture of inhabited, Office / profitable and Shopping region adding just about 1,80,000 Sq.Ft. at Najafgarh Road, Bijwasan, Delhi. The Company is reported in batter excellent result in last quarter target.So I am say Stock and Stock Market price will be increased.

Dover Securities Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 13, 2007, has approved the allotment of 40,00,000 equity shares of the face value of Rs 10 each for cash at a premium of Rs 40/- per share to the following applicants:

1. Name of the Allottees: Mr. Rajesh Sharma
Equity Shares: 24,00,000

2. Name of the Allottees: Mrs. Seema Sharma
Equity Shares: 5,000

3. Name of the Allottees: Mr. Ramesh Chandra Sharma
Equity Shares: 5,000

4. Name of the Allottees: Ramesh Chandra Sharma (HUF)
Equity Shares: 90,000

5. Name of the Allottees: Roopam Multitrade Pvt Ltd
Equity Shares: 6,50,000

6. Name of the Allottees: Mr. Pujit Aggarwal
Equity Shares: 4,25,000

7. Name of the Allottees: Mrs. Gunjan Aggarwal
Equity Shares: 4,25,000.

Read more : www.stocksurf.org