Bombay Dyeing clarifies on news items

With reference to news item "Bajoria corners 14% in Bombay Dyeing" appearing in Business Standard dated October 10, 2000 Bombay Dyeing & Manufacturing Co Ltd has informed BSE the following: 1. From the download of data received from NSDL through the Registrars M/s Sharepro Services on June 28, 2000 we noticed that Mr Arun Kumar Bajoria along with four of his relatives and two companies had acquired shares of the company exceeding 5% as on June 20, 2000. 2. No intimation was received by the company from either Mr Bajoria or any of his associates regarding acquisition of shares exceeding 5% as required in terms of Regulation 7 of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) regulations 1997 as amended.(herein referred to as the SEBI Takeover Code/Regulations . Mr Bajoria thus has violated the provisions of the relevant SEBI regulations. 3. We therefore complained to SEBI about this violation by our letter of 7th July 2000 followed up by a reminder on July 28, 2000 requesting them to conduct an investigation in terms of Regulation 38 of SEBI Regulations and issue appropriate directions apart from initating action under Section 24 of SEBI Act 1992. 4. Mr.Bajoria by his letter of 4th August, 2000 (copy enclosed) obviously in response to SEBIs letter informed SEBI that he along with his relatives, companies and brokers held as much as 12.79% of our shares as on 31st July, 2000. He also marked copies of this letter to the Chariman and the Managing Director of the Company which were received by a courier service. 5. The letter dated August 4, 2000 addressed by Mr. Bajoria to SEBI (copy endorsed to us) does not constitute valid disclosure under Regulation 7(1) of the SEBI Takeover Regulations, which in any event was required to be made within four working days of such acquisition. Therefore we, through our solicitors, wrote to SEBI by a letter dated 6th September, 2000 in which it was specifically stated that Mr.Bajoria's letter of 4th August to SEBI and not to the Company did not constitute a valid disclosure under Regulation 7(1). We further request SEBI to let us known whether the Company should make a corresponding disclosure to the concerned stock exchange as contemplated in Regulation 7(3) of the code. We are awaiting a response from SEBI on this point. In the same letter referred to above we also drew SEBI's attention to Regulation 44 which is a provision in the nature of interim relief pending proceedings contemplated under Regulation 45(6)and suggested that SEBI would be entitled to invoke Regulation 44 to grant interim relief for the violation committed by Mr.Bajoria/ Mega Resources for not having informed the Company as per Regulation 7(1). 6. The Company had filed on 18th August 2000 a petition under Section 111A of the Companies Act, 1956 before the company Law Board, Western Region Bench, Mumbai praying for rectification of the Register of Members of the company on the ground of violation of the Regulations under the SEBI Takeover Code. The Company Law Board was pleased to grant interim relief in term of prayer (e) of Para 10 of the Petition in terms of which Mr. Bajoria and his associates have been restrained from exercising the voting rights in respect of the shares held by them. Copies of our petition and the interim order dated 19th September,2000 are enclosed for your information and records. 7. At the Company Law Board hearing on 19th September, 2000 for the first time Mr. Bajori's Advocate stated that Mr. Bajoria had filed an intimation with the Calcutta Stock Exchange in March 2000. As per the records of the Company Mr. Bajoria had not crossed 5% in March 2000. Based on the "Persons acting in concert with Mr.Bajoria as Outline by him in his letter dated August 4, 2000 he actually crossed 5% only on May 16,2000. 8. On 22nd September, the Company received a letter from SEBI in which they informed the Company that Mega Resources Ltd., Calcutta had vide their letter of 16th March, 2000 communicated to the Company Secretary that their holding along with their associated have exceeded 5%. The SEBI letter further stated that Mega Resources Ltd had produced postal proof dated 16th March, for having sent the said communication "Under Certificate of Posting" The Company received no such letter and has to-date not received any communication from Mr. A.K.Bajoria or from any of his companies/associates. 9. On 27th September, the Company wrote to SEBI a detailed letter in which it pointed out that when Mr. Bajoria wrote to SEBI on 4th August, he did not mention to SEBI that Mega Resources Ltd had written to the Company on 16th March, Furthermore, in his letter to SEBI disclosing his holding he stated " We hope your purpose would be served with the above details" There was no mention of the intimation by Mega Resources of 16th March to the company in that letter. We have drawn SEBI's attention that even in the responses to the Company Law Board Mr. Bajoria neither filed a statement nor an affidavit nor any proof of any letter of 16th March. In fact his advocate never even mentioned the letter during the hearing before the Company Law Board . Representatives of the Company have met the Chairman of SEBI and other officials on 4 different occasions to keep him appraised and briefed of the developments. In our letter of 27th September. We again requested SEBI to take action for violation of Regulation 7 as provided for under Regulation 44 which we had already requested in our solicitor's letter of 6th September. 10. Mr. Bajoria had given the names of persons said to be acting in concert in his letter to SEBI dated 4th August, 2000 and their holdings as per the said letter aggregated to 12.79%. However, based on the down-load of data received from CDSL & NSDL as of 31St July, 2000 the holdings of the persons named in the above letter aggregated to only 10.79%. Their holdings based on last download of data from CDSL & NSDL as of 29th September 2000 aggregated to 11.21%. 11. As per the press report. Mr.Bajoria is reported to have advised allegedly the Company as also the Stock Exchanges " as soon as my holdings exceeded 5% in the company" . Please let us know whether you have received any such intimation from Mr. Bajoria. As earlier stated the Company has not received any such communication. 12. The Company is also pursuing the complaint filed with SEBI against the Bajoria Group for intiating appropriate action for violation of the Regulations under the takeover code. We trust we have adequately clarified the news item in the Business Standard of 10th October .We would be happy to respond to any further queries you may have on the aforesaid matter.

Pentasoft Technologies Q2 net profit at Rs 338.34 million

Pentasoft Technologies Ltd has posted a net profit of Rs 338.84 million for the quarter ended September 30, 2000 as compared to Rs 52.50 million in the quarter ended September 30, 99. Net sales for the quarter ended September 30, 2000 are at Rs 338.84 million in SQ 2000 as compared to Rs 52.50 million in the same period last year. Other income for the quarter ended September 30, 2000 is at Rs 45.61 million as compared to Rs 2.8 million in SQ 99. The Company entered into strategic alliance with M/s. Computer Associates Inc, on a joint venture basis & floated a new Company namely M/s. Simplysoft Technologies Pvt. Ltd. with its Headquarters at Bangalore. As of now, the Company has obtained STPI status for twelve development centres across the country.The Board has accepted the resignation of Ms Lakshmi Sukumar Director who has resigned from the Board owing to personal reasons.

Crisil Q2 net profit down by 17.66%

Credit Rating Information Services of India Ltd has posted a net profit of Rs 22.86 million for the quarter ended September 30, 2000 as compared to Rs 27.76 million in the same period last year. Income from operations however is up by 37.65% at Rs 114.25 million for the quarter ended September 30, 2000 as compared to Rs 83/- million in the quarter ended September 30, 99. Other income was lower at Rs 5.84 million in the quarter ended September 30, 2000 as against Rs 11.46 million in SQ 99 due to utilisation of treasury for acquisition of the business of Information Products & Research Services India Private Limited alongwith its brand INFAC & purchase of new office premises. The Company, however, expects to make up the same by building up treasury through sale of existing premises.

Global Tele-Systems to allot shares to shareholders of Thermax Systems

A meeting of the Board of Directors of Global Tele-Systems is scheduled to be held on October 16, 2000 to consider and approve issue and allotment of 1,00,000 equity shares of Rs 10/- each of the company to the shareholders of Thermax Systems & Software Ltd (TSSL) an unlisted company, against full purchase consideration for the equity shares of TSSL agreed to be transferred by the said shareholders in favour of the company in terms of the scheme of acquistion of the business of the said company.

Matsushita Lakhanpal Q2 net profit down by 68.33%

Matsushita Lakhanpal Battery India Ltd (formerly Lakhanpal National Ltd) has posted a net profit of Rs 10.1 million for the quarter ended September 30, 2000 as compared to Rs 31.9 million in the same period last year. Net sales for the quarter ended September 30, 2000are at Rs 473.2 million as against Rs 590.3 million in SQ 99. Other income for the quarter ended September 30, 2000 is at Rs 2.20 million as compared to Rs 3/- million in the quarter ended September 30, 99.

Sonata Software Q2 net profit at Rs 87.92 million

Sonata Software Ltd has posted a net profit of Rs 87.92 million for the quarter ended September 30,2000 as compared to Rs 54.96 million in the same period last year. Net sales for the quarter ended September 30, 2000 are at Rs 320.49 million as compared to Rs 446.95 million in the quarter ended September 30, 99. Other income has increased from Rs 0.34 million in SQ 99 to Rs 11.64 million in the quarter ended September 30,2000. In view of the hive off of Indian operations of the Company with effect from 1st July,2000 to a wholly owned subisdiary of the Company- Sonata Information Technology Limited (SITL), the figures are not comparable Interim dividend of Re.0.20 per share (20% on par value of Re.1/-) has been declared at the Board Meeting held today.(October 11, 2000) The record date of Payment of dividend is November 10, 2000.

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