Tata Investment Corporation

NSE Announcements on Tata Inv Corp

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Price when posted : [Tata Inv Corp - BSE:Rs. 288.00 NSE:Rs. 287.00 when posted]

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Tata Investment Corporation Ltd. has informed the Exchange that At the meeting of the Board of Directors held today, i.e. on November 05 2008, the Board approved of a proposal pursuant to the provisions of Section 78, 100 and other applicable provisions, if any, of the Companies Act, 1956 to utilise (a) a sum of Rs 35 crores presently standing to the credit of the Securities Premium Account of the Company and (b) a further sum of Rs.100 crores out of the amounts which would be credited to such Securities Premium Account on compulsory conversion of the recent issue of Zero Coupon Convertible Bonds (ZCCBs), for allocating and earmarking the said sums to be used against provisions which may be required to be made in future for diminution in value of investments on or after date of credit of the amount to such account. Both these proposals are subject to approval of shareholders at an Extraordinary General Meeting (EGM) and the holders of the ZCCBs at a general meeting and further subject to the confirmation of the Honble High Court of Judicature at Bombay. It is proposed to convene an EGM and a general meeting of the holders of the ZCCBs for obtaining their approval for aforesaid proposals on December 02, 2008.Tata Investment Corporation Ltd. has informed the Exchange that At the meeting of the Board of Directors held today, i.e. on November 05 2008, the Board approved of a proposal pursuant to the provisions of Section 78, 100 and other applicable provisions, if any, of the Companies Act, 1956 to utilise (a) a sum of Rs 35 crores presently standing to the credit of the Securities Premium Account of the Company and (b) a further sum of Rs.100 crores out of the amounts which would be credited to such Securities Premium Account on compulsory conversion of the recent issue of Zero Coupon Convertible Bonds (ZCCBs), for allocating and earmarking the said sums to be used against provisions which may be required to be made in future for diminution in value of investments on or after date of credit of the amount to such account. Both these proposals are subject to approval of shareholders at an Extraordinary General Meeting (EGM) and the holders of the ZCCBs at a general meeting and further subject to the confirmation of the Honble High Court of Judicature at Bombay. It is proposed to convene an EGM and a general meeting of the holders of the ZCCBs for obtaining their approval for aforesaid proposals on December 02, 2008.Tata Investment Corporation Ltd. has informed the Exchange that At the meeting of the Board of Directors held today, i.e. on November 05 2008, the Board approved of a proposal pursuant to the provisions of Section 78, 100 and other applicable provisions, if any, of the Companies Act, 1956 to utilise (a) a sum of Rs 35 crores presently standing to the credit of the Securities Premium Account of the Company and (b) a further sum of Rs.100 crores out of the amounts which would be credited to such Securities Premium Account on compulsory conversion of the recent issue of Zero Coupon Convertible Bonds (ZCCBs), for allocating and earmarking the said sums to be used against provisions which may be required to be made in future for diminution in value of investments on or after date of credit of the amount to such account. Both these proposals are subject to approval of shareholders at an Extraordinary General Meeting (EGM) and the holders of the ZCCBs at a general meeting and further subject to the confirmation of the Honble High Court of Judicature at Bombay. It is proposed to convene an EGM and a general meeting of the holders of the ZCCBs for obtaining their approval for aforesaid proposals on December 02, 2008....

BSE Announcements on Tata Inv Corp

Posted by : MMB Messenger
Price when posted : [Tata Inv Corp - BSE:Rs. 288.00 NSE:Rs. 287.00 when posted]

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Tata Investment Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 05, 2008, has approved of a proposal pursuant to the provisions of Section 78, 100 end other applicable provisions, if any, of the Companies Act, 1956 to utilise (a) a sum of Rs 35 crores presently standing to the credit of the Securities Premium Account of the Company and (b) a further sum of Rs 100 crores out of the amounts which would be credited to such Securities Premium Account on compulsory conversion of the recent issue of Zero Coupon Convertible Bonds (ZCCBs), for allocating and earmarking the said sums to be used against provisions which may be required to be made in future for diminution in value of investments on or after date of credit of the amount to such account.

Both these proposals are subject to approval of shareholders at an Extraordinary General Meeting (EGM) and the holders of the ZCCBs at a general meeting and further subject to the confirmation of the Honble High Court of Judicature at Bombay. It is proposed to convene an EGM and a general meeting of the holders of the ZCCBs for obtaining their approval for aforesaid proposals on December 02, 2008....