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Back to old ways
Posted by :
comatose
You want us to wait till the coming mango season, summer ?
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look at YoY figure...it has gone up...
NSE Announcements on Network 18
Posted by : MMB MessengerNetwork 18 Fincap Limited has informed the Exchange that the Board of Directors of the Company vide circular resolution dated October 20, 2009, considered and approved deregistration of the Company as a Non Banking Financial Company from Reserve Bank of India, subject to the requisite regulatory approvals....
Back to old ways
Posted by :
JigiDThis stock will Rise like a Dead Mummy, just wait for the Mangoes....
Back to old ways
Posted by : Hymanjali KumarI think its better to switch to other stock than this i am observing this stock last 3 years there is no good except sinking every day and every fall. Even market recovered from 8000 to 17000 + but this stock is at 89/- this means switch to other sectors like midcap it hexaware, moserbear, 3i infotech. which we can expect good returns from here....
Back to old ways
Posted by : comatose
The stock has again started sinking. When would it stop falling ?
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NSE Announcements on Network 18
Posted by : MMB MessengerNetwork 18 Fincap Limited has informed the Exchange vide notes to Accounts in the Unaudited Financial Results for the quarter ended September 30, 2009 (taken on record by the Board of Directors of the Company at its meeting held on October16, 2009) that "The Statutory Auditors have carried out a Limited Review of the standalone unaudited financial results of the Company for the quarter ended 30 September 2009 and have qualified their report in respect of (a) non compliance with capital adequacy and concentration of investments norms forming part of Non Banking (Not Deposit Accepting Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by Reserve Bank of India. The Company has applied to the Reserve Bank of India, seeking exemption from compliance with the relevant regulations. (b) The remuneration paid to the Managing Director in the previous year, being in excess of the limits prescribed by Schedule XIII of the Companies Act, 1956. The Company is in the process of approaching the Central Government seeking approval for the amounts paid"....
NSE Announcements on Network 18
Posted by : MMB MessengerNetwork 18 Fincap Limited has informed the Exchange vide notes to Accounts in the Unaudited Financial Results for the quarter ended September 30, 2009 (taken on record by the Board of Directors of the Company at its meeting held on October 16, 2009) that the company raised Rs.20,389.90 Lakhs through a Right Issue of PCCPs. Out of that Rs.19,379.62 Lakhs has been utilised up to September 30, 2009 for the purposes it was raised. Balance amount of Rs.1,010.28 lakhs is invested in mutual funds, pending utilisation....
NSE Announcements on Network 18
Posted by : MMB MessengerNetwork 18 Fincap Limited has informed the Exchange that "The Allotment Committee of the Board of Directors of the Company in its meeting today i.e. October 20, 2009 at the Corporate Office of the Company considered and approved the following: (1) Allotment of 9,202,650 equity shares of the Company at a price of Rs.130/- per share to SAIF III Mauritius Company Limited, pursuant to approval of shareholders at the Extraordinary General Meeting of the Company held on July 2, 2009. (2) Conversion of 9,000,000 Secured Optionally Fully Convertible Debentures (SOFCD) into 9,000,000 equity shares of the Company which were allotted by Allotment Committee Meeting of Board of Directors of the Company held on April 11, 2009 to RB Holdings Private Limited, a company owned 100% by Mr Raghav Bahl and other promoters"....
From this news, it seems that by this deregistration from being a NBFC company, it is able to raise its foreign investment upto 49%.
Anyway, if I get any further info on this matter, I will get in touch with you.
Thanks....
BSE Announcements on Network 18
Posted by : MMB MessengerNetwork 18 Media & Investments Ltd has informed BSE that the Board of Directors of the Company vide circular resolution dated October 20, 2009, considered and approved deregistration of the Company as a Non Banking Financial Company from Reserve Bank of India, subject to the requisite regulatory approvals....
BSE Announcements on Network 18
Posted by : MMB Messenger
Updates
Posted by : comatose
vkk, I was referring to this article in " Business Line "
" New Delhi, Sept. 10 Network 18, the holding company of TV 18, has been allowed up to 49 per cent foreign investment, opening up investment opportunities for the company.
Recommending automatic route for the company’s plans to raise Rs 119.63 crore from Mauritius-based SAIF III, the Foreign Investment Promotion Board cleared the ambiguity over the FI limits of the company. Network can now follow up on its proposal to issue 8.76 per cent share to SAIF by way of 9.2 million shares of Rs 130 each.
Network 18 is non-banking financial company registered with the RBI with operations in the entertainment space, through event management business E18, Sports 18 and the film business Studio18. FII stake in the company is currently at 11.64.
As the holding company of TV 18 which runs three news channels – news and current affairs allowing only up to 26 per cent foreign equity – the direct and indirect foreign equity was 24.74 per cent. The FII holding in TV 18 was capped at 19.03 per cent and Network 18 at 13.5 per cent.
With the introduction of Press Note 2, the company had sought clarification on whether as a primarily Indian owned and controlled investing company it could raise foreign investment up to 49 per cent. With a no-objection from the Ministry of Information and Broadcasting, and on meeting certain requirements as an NBFC, Network can now raise up to 49 per cent in foreign investments. "
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It is a deregistration from RBI as a NBFC Company. I am not very sure of the info you had asked for. Thanks....
