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Corporate announcements

Every filing companies make on NSE, newest first. Category is assigned from NSE's own label; the PDF link opens the original on NSE.

Exchange announcements
Source: NSE corporate filings · latest Today 01:25 IST
  • 19 Apr 2007 18:36

    Ing Vysya Bank Limited has informed the Exchange that: "The Bank has today (April 16, 2007) sold its entire shareholding of 99,30,000 (Ninety Nine Lakh Thirty Thousand only) shares in ING Investment Management (India) Private Limited at the rate of Rs.12/- per share".

  • 19 Apr 2007 09:30

    Icici Bank Ltd has informed the Exchange that "The Reserve Bank of India, vide its letter No. DBOD No. PSBD. 10269/16.01.128/2006-07 dated April 18, 2007 has approved the Scheme of Amalgamation of The Sangli Bank Limited with ICICI Bank Limited. The Scheme of Amalgamation shall come into effect from April 19, 2007."

  • 18 Apr 2007 19:05
    JHSM&A

    Jhs Svendgaard Laboratories Limited has informed the Exchange that: "(1) Shri Gopal Krishan Nanda has been appointed as a Whole-time Director on the Board of Directors of our Company w.e.f. 24.03.2007. (2) Shri P.K.Manglik has resigned w.e.f. 24.03.2007 and he ceased to be a whole-time Director of our Company w.e.f. 24.03.2007. (3) The Company has started Commercial Operations/Production on 02.04.2007 of Unit at Kala-amb, District Sirmour in the State of Himachal Pradesh. (4) The Company has on 10.04.2007 acquired 9400 equity shares of Rs.10/- each of M/s Nikiven Personal Care Products Private

  • 18 Apr 2007 13:14
    BSLM&A

    Bsl Ltd has informed the Exchange that "Today (i.e. April 18, 2007) the Hon'ble High Court of Judicature for Rajasthan at Jodhpur have passed the final order for Amalgamation of M/s BSL Wulfing Limited with the Company w.e.f. 1st April, 2006."

  • 18 Apr 2007 11:07

    Gabriel India Ltd has informed the Exchange that: "The Court order sanctioning the demerger of the Engine Bearings Division of the Company and its vesting in Anand Engine Components Limited has been filed with the Registrar of Companies, Maharashtra on April 16, 2007. Accordingly, April 16, 2007 is the effective date of the Scheme".

  • 17 Apr 2007 19:00

    Hindustan Lever Ltd. had informed the Exchange regarding the minutes of the proceedings of the Court Convened Meetings of the Company held on October 30, 2006 to approve: i) the Scheme of Arrangement involving Amalgamation of Modern Food Industries (India) Limited and Modern Food and Nutrition Industries Limited with Hindustan Lever Limited and ii) the Scheme of Arrangement between Hindustan Lever Limited, Shamnagar Estates Private Limited, Jamnagar Properties Private Limited and Hindustan Kwality Walls Foods Private Limited for the transfer of certain Units of Hindustan Lever Limited to Shamn

  • 17 Apr 2007 16:44
    CESCM&A

    Cesc Ltd. has informed the Exchange that: "At a meeting of the Board of Directors of the Company held today (April 17, 2007), the Board has approved, subject to requisite approvals, a scheme for merging the holding company of Spencer's Retail Limited with CESC Limited. As per the scheme to be effective from 01 April, 2007, 1 fully paid-up Equity Share of CESC for every 1.98 fully paid-up Equity Shares of the merging Company will be issued involving issue of around 31 million fully paid-up Equity Shares of Rs.10 each of the Company".

  • 17 Apr 2007 16:03

    Ganesh Housing Corporation Ltd. has informed the Exchange that: "Pursuant to the order made by the Hon'ble High Court of Judicature at Ahmedabad a meeting of the equity shareholders of the Company will be held on Saturday, May 26, 2007 for the purpose of considering and, if thought fit, to approve with or without modification(s), the Scheme of Amalgamation of (1) Nachiket Properties Pvt Ltd (2) Shaharsh Infrastructure Pvt Ltd (3) Manjari (Thaltej) Complex Pvt Ltd (4) Ramasagar Infrastructure Pvt Ltd (5) Ganesh Infrastructure Pvt Ltd. with the Company".

  • 17 Apr 2007 15:56

    Jindal Steel & Power Ltd. has informed the Exchange that: "The Company has been allotted 40,000 partly paid up (partly paid up to the extent of 25 Bolivinos per share) shares of the face value of 100 Bolivinos each in Jindal Steel, Bolivia, SA (incorporated under the laws of Bolivia) on 12.04.2007. Consequent to this, Jindal Steel, Bolivia, SA has become the subsidiary of the Company from that date".

  • 17 Apr 2007 10:52

    Plethico Pharmaceuticals Limited has informed the Exchange that the company has taken the following decision: That the company plans to do a possible acquisition in Germany in the Herbal segment. This will help the Company to strengthen the Herbal focus of the Company and also enable the marketing of herbal preparations in the Advanced Countries.

  • 16 Apr 2007 09:42

    Astra Microwave Products Limited has informed the Exchange that: "The Company has allotted Equity shares on April 05, 2007, inter-alia to designated employees, on the exercise of vested options granted to them under ESOP Scheme - 2005 of the Company". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Astra_Disclosure.zip target=NEW> For more details click here.</a>

  • 13 Apr 2007 19:15

    Sasken Communication Technologies Limited has informed the Exchange that: "(a) Hon'ble High Court of Karnataka at Bangalore by its order dated 24th January 2007 approved the Scheme of Amalgamation of Integrated SoftTech Solutions Pvt. Ltd., Chennai, a wholly owned subsidiary with the Company. A certified copy of the above order has been filed with the Registrar of Companies on 14th February, 2007. (b) Hon'ble High Court of Judicature at Madras by its Order dated 1st March 2007 approved the above on 1st March 2007. A certified copy of the above order has been filed with the Registrar of Compani

  • 13 Apr 2007 18:43

    Eveready Industries India Limited has informed the Exchange that: "At the meeting of the Board of Directors of the Company, held today (April 13, 2007), the Board has approved a Scheme of Amalgamation between the wholly owned subsidiary of the Company, Powercell Battery India Ltd and the Company. Powercell Battery India Ltd is an existing unlisted Company having its registered office at 1 Middleton Street, Kolkata - 700 071 and is in the business of manufacture and sale of dry cell batteries and flashlights. The salient features of the scheme are :- 1) The Scheme is proposed to be made effecti

  • 13 Apr 2007 12:44
    SPSLM&A

    Shree Precoated Steels Limited has informed the Exchange that: "The Hon'ble High Court of Judicature at Bombay has given directions to convene the separate Meetings of the Equity Share Holders and the Secured Creditors of the Company to be held on May 15, 2007, for the purpose of considering and, if thought fit, approving with or without modification the proposed Scheme of Amalgamation between the Company and Anik Development Corporation Pvt. Ltd. (ADCPL)".

  • 12 Apr 2007 14:28

    Alembic Limited has informed the Exchange that "The Company has completed the formalities in respect of acquisition of Non-Oncology Business of Dabur Pharma Ltd." Further the Company has submitted to the Exchange a copy of Press Release dated April 12, 2007, titled "Alembic enters Chronic Lifestyle Therapeutic Segments with 24 Brands." A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Alembic_PR.zip target=NEW> For more detai

  • 12 Apr 2007 11:41

    Plethico Pharmaceuticals Limited has informed the Exchange that the company has taken following decision: 1) The company has appointed M/s. Singhi Advisors Ltd. (formerly Singhi & Associates) as company's M&A Advisors on a Global level. The address of M/s. Sindhi Advisors is as under: 903, Raheja Centre, Nariman Point, Mumbai - 400 021, India. 2) The Company plans to do a possible acquisition of a minority stake in a CIS based retail pharmacy Chain Company. This acquisition will enable the company to de-basket it's credit risks in CIS and help move from Credit Market (distribution) to a Cash M

  • 11 Apr 2007 17:07

    Emami Limited had informed the Exchange about sanction of the Scheme of Amalgamation of J.B.Marketing & Finance Ltd. with the company by Hon'ble Calcutta High Court. The Company has now informed the Exchange that "The said scheme of amalgamation has been effective from 1.4.2006".

  • 11 Apr 2007 15:58

    Panoramic Universal Limited had informed the Exchange about the proposed acquisition of 100% stake in M/s. Sri Vatsa Hotels Private Limited (SVHPL)." The Company has now informed the Exchange "The Company has on 10th April, 2007 signed a Memorandum of Understanding with the shareholders of SVHPL for the acquisition of their 100% stake in the said company. The cost of acquisition is Rs.176.5 Million. The acquired company shall construct a three/four star hotel with approximate 90 rooms at its premises located in the heart of Secunderabad, just 1.5 Kms away from the Hyderabad Airport."

  • 10 Apr 2007 10:01

    Suzlon Energy Limited has informed the Exchange that: "SE Drive Technik GmbH, Germany, a step-down wholly owned subsidiary of the Company and a company acting in concert with Suzlon Windenergie GmbH, another step-down wholly owned subsidiary of the Company has purchased 627000 shares constituting 7.7% of the pre-capital increase share capital of REpower AG, Germany at a price of up to Euro 150 per share. Thereby the offer price of the voluntary public tender offer for acquiring up to 100% shares of REpower Systems AG, Germany stands revised to Euro 150".

  • 09 Apr 2007 16:21

    Bank Of Baroda has informed the Exchange that "The Hon'ble High Court of Rajasthan, Jaipur vide their order No.893 dated 23-03-2007 approved the Scheme of Merger of BOBHFL with Bank of Baroda, a certified copy of which has been filed with Registrar of Companies (ROC), Rajasthan, Jaipur on 5th April 2007. With the aforesaid the BOBHFL (100% subsidiary of the Bank) stands merged with Bank of Baroda".

  • 09 Apr 2007 09:52

    Adhunik Metaliks Limited has informed the Exchange that: "The Company has acquired Orissa Manganese & Minerals Pvt. Limited as 100% subsidiary. OMM is a company having mining rights for reserves of 15.00 million tones for manganese ore and 35.00 million tones for iron ore. The Company plans manganese ore mining immediately and iron ore mining within a period of 3-6 months. The above mines do not have captive clause and the manganese ore and iron ore can be sold in the open market to various end users".

  • 05 Apr 2007 15:18

    Sun Pharmaceuticals Industries Ltd has informed the Exchange that the Hon'ble High Court of Gujarat, at Ahemdabad at its hearing held on 1st March, 2007 approved the Scheme of Arrangement between Sun Pharmaceutical Industries Limited (SPIL) and Sun Pharma Advanced Research Company Limited (SPARC) in the nature of demerger and transfer of Innovative Research and Development (Including New Drug Delivery Systems) Business/Unit of SPIL to SPARC with appointed date of 28th February, 2007. Further the Company informed the Exchange that vide letter dated March 30, 2007, the Company has fixed Monday,

  • 05 Apr 2007 13:08

    Gabriel India Ltd has informed the Exchange that "the Hon'ble High Court of Judicature at Bombay has sanctioned the Scheme of Demerger i.e. Scheme of Arrangement and Restructuring between the Company and Anand Engine Components ltd and their respective shareholders and creditors under Sections 391 and 394 of the Companies Act, 1956. Accordingly, the Hon'ble High Court has inter alia sanctioned the vesting of the Engine Bearings Division of the Company in Anand Engine components ltd."

  • 04 Apr 2007 11:55

    Aksh Optifibre Limited has informed the Exchange that "Dr. Kailash S. Choudhari, Managing Director of the company has sold 166,279 equity shares of the company between 29th & 30th March, 2007 (both days inclusive). Therefore, his shareholding as on 30.03.2007, after the above transaction is 3,837,187 equity shares aggregating to 17.41% of the total issued, subscribed and paid-up equity share capital of company."

  • 03 Apr 2007 16:17

    Ncl Industries Limited has informed the Exchange that "The Scheme of Amalgamation of NCL Energy Ltd with the Company has been approved by Hon'ble High Court of Andhra Pradesh vide its order Dt : 13.03.2007." Further the Company informs that On filing of the copy of the said order the scheme has become effective from the of the business hours of March 31, 2007. The appointed date for the Scheme is 1st April, 2005. M/s NCL Energy Limited stands dissolved without winding up."

  • 03 Apr 2007 09:45

    Indian Hotels Co. Ltd. has informed the Exchange that "the Board of Directors of The Indian Hotels Company Limited have subject to necessary statutory approvals, approved the proposal to acquire, through its 100% US subsidiary company, Hotel Campton Place, San Francisco and to execute the Sale Purchase Agreement for this acquisition. The acquisition would be made at a cost of US$ 60 million (including estimated transaction costs). The Hotel is intended to be acquired in partnership with financial investors. The Sale Purchase Agreement is to be signed today (i.e. April 02, 2007) and the transac

  • 02 Apr 2007 19:45

    Tata Steel Limited has informed the Exchange that "The Company is happy to announce that it has completed its �6.2 billion (US$12 billion) acquisition of Corus Group plc (Corus) at a price of 608 pence per ordinary share in cash. The enlarged company will have a pro forma crude steel production of 27 million tonnes in 2007 and will be the world's fifth largest steel producer with 84,000 employees across four continents." The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate

  • 02 Apr 2007 19:12

    Keynote Corp. Serv. Ltd. has informed the Exchange that the Scheme of Amalgamation of group companies viz. Cobal Investment Company Limited, West coast Lighterage Company Private Limited, Starline Ispat and Alloys Limited, Galaxy Leasing Limited, Keynote Finstock Limited, Plethora Investments company Limited ("the transferor companies") with keynote Corporate Services Limited ("KCSL") has become effective from 29th March, 2007. The order dated 21st December, 2006 of the Hon'ble High Court, Allahabad for Galaxy Leasing Ltd., (one of the transferor) with KCSL has been filed with Registrar of Co

  • 02 Apr 2007 18:40

    Ang Auto Limited has informed the Exchange that "The Board of Director of the Company at its meeting held on March 31, 2007 have approved the Scheme of Amalgamation of it's 75% subsidiary ANG AUTO TECH (P) LTD. with the Company, under the provision of Section 391 to 394 of the Companies Act, 1956. The Scheme shall be subject to necessary approvals and sanctions of the Hon'ble High Court of Delhi and other Authorities". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate A

  • 02 Apr 2007 17:18

    Television Eighteen India Ltd. has informed the Exchange that " the following officials of the Company has sold their shares of the Company in the Open Market as per the below mentioned details: S.No.1 - Name - Mr. Haresh Chawla (Chief Executive Officer), No. of Shares - 75000, Price Per Share - Rs.600; S.No. 2 - Name - Mr. Sameer Manchanda (Director of a Subsidiary Company) - 225000, Price Per Share - 601; S.No.3 - Name - Mr. Rajdeep Sardesai (Director of a Subsidiary Company), No. of Shares - 100000, Price Per Share - Rs.601".

  • 02 Apr 2007 14:46
    IFCIM&A

    Ifci Limited has informed the Exchange that: "IFCI Limited (IFCI), was holding 12.44% equity shares of National Stock Exchange of India Ltd (NSE). IFCI agreed to sell 31,50,000 equity shares (constituting 7% holding) to four institutional investors viz. Goldman Sachs, NYSE, General Atlantic and soft Bank, on 10-01-2007, when an agreement was signed in this regard. The formalities and other necessary documentation have been completed today i.e. 31/03/2007 in respect of said sale. We have to advice that the sale proceeds are expected to be received shortly, i.e. within next two three days".

  • 02 Apr 2007 12:55

    Kansai Nerolac Paints Limited has informed the Exchange that: "We had intimated to you that the merger of Polycoat Powders Limited with, our Company, Kansai Nerolac Paints Limited has been approved by the Hon'ble High Court of Judicature at Bombay, the effective date of the merger being 1st April, 2006. Now, we would like to inform you that, consequent to the approval of the High Court of Judicature at Bombay, and the filing of the Court Order with the Registrar of companies at Mumbai, the amalgamation procedure has been completed".

  • 02 Apr 2007 09:49

    Videocon Appliances Ltd. has informed the Exchange that the Board of Director(s) of the Company at their meeting held on March 31, 2007, accorded their consent for amalgamation of Ranjangaon Industries Private Limited (formerly: Matsushita Washing Machine India Private Limited) with Videocon Appliances Limited ('the Company'), subject to requisite approvals, as may be required.

  • 02 Apr 2007 09:47

    Regency Ceramics Ltd. has informed the Exchange that: "Board of Directors of the Company in its meeting held on March 31, 2007 has duly approved the scheme of amalgamation of M/s.Regma Ceramics Limited with the Company with effect from Aril 01, 2006, on due recommendation of the Committee of Independent Non-promoter Directors, constituted for the purpose of this merger/amalgamation. Further, the Board of Directors authorized Dr.G.N.Naidu, Chairman and Managing Director of the Company to take necessary steps for consummation of the scheme of amalgamation with due regard to the applicable rules,

  • 02 Apr 2007 09:42

    Hcl Infosystems Ltd has informed the Exchange that " the Hon'ble Delhi High Court has vide its order dated March 20, 2007 sanctioned the composite Scheme of Arrangement of the Company with M/s HCL Infinet Limited, the wholly owned subsidiary and M/s Microcomp Limited, the wholly owned subsidiary M/s HCL Infinet Limited. On filing of the certified copy of the said order, the scheme has become effective from the closing of the business hours of March 31, 2007. On the Scheme becoming effective, the Networking business of M/s HcL Infinet Limited has demerged into M/s Microcomp Limited (henceforth

  • 30 Mar 2007 18:24

    Visualsoft Technologies Limited has informed the Exchange that "the scheme of Amalgamation with Megsoft Ltd. has been approved by the Hon'ble High Court of Andhra Pradesh at Hyderabad. The Scheme of Amalgamation has also been approved by the Hon'ble High Court at Chennai. The effective date for the purpose, has been reckoned w.e.f. 29th March 2007."

  • 30 Mar 2007 15:26

    Members are requested to refer to the message broadcasted on March 30, 2007 regarding the sale of Entire Holdings i.e. 839103 equity shares, which constitutes 7.88% of the total equity share capital of the company, through secondary market transactions. In this regard, kindly note that 'the company' should be read as Vardhman Polytex Ltd.

  • 30 Mar 2007 14:39
    ZEELM&A

    Zee Entertainment Enterprises Ltd has informed the Exchange that: "Vide resolution dated March 29, 2007, the Board of Directors of the Company has approved an extension of time - by a period of two months i.e. upto May 31, 2007 - for implementation of the Scheme of Arrangement inter alia for Demerger of Direct Consumer Services Business Undertaking of the Company in favor of Dish TV India Ltd (formerly ASC Enterprises Ltd) pursuant to Clause 19 of the said Scheme of Arrangement. This has been done in view of the delay in the process of allotment and listing of shares of Dish TV India Ltd (form

  • 30 Mar 2007 14:32

    Uti Bank Ltd. has informed the Exchange that: "The Bank has sold Entire Holdings i.e. 839103 equity shares, which constitutes 7.88% of the total equity share capital of the company, through secondary market transactions". Further, the details of disinvestment of shares shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/uti_sale_300307.zip target=NEW> For more details click here.</a>

  • 30 Mar 2007 11:30
    VEDLM&A

    Sesa Goa Ltd. has informed the Exchange that " the Board of Director, at their meeting held on 24th March, 2007, have extended the validity of the Scheme of Amalgamation to 31st July, 2007 as the same expires on 31st March, 2007. The Transferor Company, i.e. Sesa Industries Limited, and Transferee Company, i.e. Sesa Goa Limited, have agreed for such extension in terms of clause 27 of the Scheme of Amalgamation".

  • 28 Mar 2007 13:43

    Paradyne Infotech Limited has informed the Exchange that: "The Board of Directors of the Company at its meeting held on March 28, 2007 has approved the acquisition of "Links Group International Inc." (LGI), a US based company and has approved entering into the Stock Purchase Agreement for purchase of 100% shareholding of LGI. The acquisition of shares referred above will be made through Dyne Techservices Inc., a US based wholly owned subsidiary of Paradyne Infotech Limited."

  • 28 Mar 2007 12:49
    ABANM&A

    Aban Offshore Ltd. has informed the Exchange that: "Aban Singapore Pte Ltd. (ASPL) has completed the Compulsory acquisition of the remaining 1.99% shares of Sinvest ASA. ASPL and Aban International Norway AS (AIN) together hold 100% of the Share Capital of Sinvest ASA. Further the shares of Sinvest ASA are being delisted from OSLO Stock Exchange effective 30th March 2007".

  • 27 Mar 2007 16:58

    Sun Tv Limited has informed the Exchange that the Hon'ble High court of Judicature at Madras has approved the Scheme of Amalgamation of Gemini TV Private Limited and transfer and vesting of all the undertakings / divisions except FM radio division of Udaya TV Private Limited with Sun TV Limited.

  • 27 Mar 2007 11:52

    Excel Crop Care Limited has informed the Exchange that: "At the meeting of the Board of Directors of the Company held today (March 27, 2007), the Directors have approved a proposal for acquiring the business of marketing agri input products, such as Soil Enricher, Biopesticides and Plant Growth Promoters, of Excel Industries Limited's (EIL) Environment and Biotech Division, w.e.f. 1st April, 2007. The acquisition will also include transfer to the Company of EIL's trade marks, trade names, brand names, product registration and licences relating to the concerned products. The new business is exp

  • 26 Mar 2007 14:19

    Batliboi Limited has informed the Exchange that: "The Company has acquired Quickmill Inc., a Canada based Machine Tool Company for a consideration of approximately Rs 22 Crores in an all cash deal".

  • 26 Mar 2007 09:48

    Vishal Exports Overseas Limited has informed the Exchange that "The Board of Directors of the Company at its meeting held on Friday, 23rd March, 2007 has considered and approved the proposal for demerger/sale/transfer of the "Wind Farm Project" of the Company situated in the state of Rajasthan and Tamilnadu, on a going concern basis. The proposed demerger/sale/transfer is subject to the approval of the members through Postal Ballot and any other competent authority as may be required for affecting the aforesaid demerger/sale/ transfer".

  • 22 Mar 2007 17:06

    Crisil Limited had informed the Exchange that the Board of Directors of Company, at its meeting held on February 27, 2007, had approved the merger of CRISIL Research and Information Services Limited, CRISIL Properties Limited and Global Data Services of India Limited, all wholly owned subsidiaries of CRISIL Limited (the company) with Company ('Scheme of Amalgamation'). The company has further informed the Exchange that: "Today, the 22nd March, 2007, the Board of Directors of the Company approved the proposal of merger of Irevna Research Services Limited ('Irevna'), a wholly owned subsidiary of

  • 21 Mar 2007 17:59

    Keynote Corp. Serv. Ltd. has informed the Exchange that: "1) The Hon'ble High Court, Allahabad has passed an order dated 21st December, 2006 on Company Petition No. 34 of 2006 "Approving Scheme of Amalgamation" of Galaxy Leasing Ltd., (one of the transferor Company) with KCSL (Keynote Corporate Services Limited). 2) The Hon'ble High Court, Bombay has passed an order dated 9th March, 2007 on Company Petition No.758, 759, 760, 761 and 762 of 2006 "Approving Scheme of Amalgamation" of Cobal Investment Company Limited, West Coast Lighterage Company Private Limited, Keynote Finstock Limited, Pletho

  • 21 Mar 2007 11:04

    Quintegra Solutions Limited has informed the Exchange that: "The Board of Directors of our Company met today (March 21, 2007) and approved the following: a) Acquisition of 100% shareholding of Valley US Inc., a body corporate in USA with effect from January 2, 2007 and b) Acquisition of education business and products viz. educampus, educorp and eduLAS from JadeLite Technologies Pte. Ltd., Singapore made through our wholly owned subsidiary - Quintegra Solutions (Singapore) Pte. Ltd.".

  • 20 Mar 2007 17:32

    The Great Eastern Shipping Co. Limited had informed the Exchange that the Company has entered into an agreement to sell its investment held in Routes Travel Limited, a subsidiary of the Company. The Company holds 22,27,350 equity shares in Routes Travel Limited, constituting 63.64% of its paid up share capital. The company has now informed the Exchange that: "The Company has today (March 20, 2007) concluded sale of its entire shareholding in Routes Travel Limited and consequently Routes Travel Limited ceases to be the Company's Subsidiary".