Daily Notifications as on 16th April, 2020


1. Scrip code : 532734
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
Intimation regarding receipt of Observation Letters from Stock Exchanges of the Draft Scheme of Arrangement involving of Demerger of Power Business Undertaking of Jagdamba Power and Alloys Limited with into Godawari Power and Ispat Limited. Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, we wish to inform you that our Company has received observation letters from both BSE and NSE vide their letters dated 13.04.2020 and 15.04.2020 respectively regarding draft Scheme of Arrangement involving of Demerger of Power Business Undertaking of Jagdamba Power and Alloys Limited with into Godawari Power and Ispat Limited under Section 230 to 232 of the Companies Act, 2013, enabling the Company to file the scheme with the Hon”ble NCLT. Please find attached herewith the copies of observation letters of NSE and BSE, which are self explanatory.

2. Scrip code : 531225
Subject : Board Meeting Intimation for Approval Of Financial Results Of The Company For The Financial Year Ended On 31St March, 2020 And Other Matters
Xtglobal Infotech Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/04/2020 ,inter alia, to consider and approve 1.To consider and approve Standalone and Consolidated Audited Financial Results of the Company for the fourth Quarter and financial year ending on 31st March, 2020. 2.To take note of Statutory Auditor’s Report for the for the Financial Year 2019-20. 3.To consider and pass Board Resolution under the applicable provisions of the Companies Act, 2013 for providing Loan to wholly owned subsidiary company of XTGlobal Infotech Limited i.e. Xenosoft Technologies (India) Private Limited within the prescribed limit. 4.To consider and approve the proposal for the Merger of Xenosoft Technologies (India) Private Limited (‘Transferor Company’), a wholly owned subsidiary of the Company, with XTGlobal Infotech Limited (Formerly Frontier Informatics Limited) (‘TheCompany’or’Transferee Company’) and their shareholders and creditors, under Chapter XV Compromises, Arrangements and Amalgamations of the Companies Act, 2013

3. Scrip code : 509079
Name : Gufic BioSciences Ltd.
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
This is in reference to the Scheme of Amalgamation of Gufic Lifesciences Private Limited with Gufic Biosciences Limited and their respective shareholders and creditors, which was filed with the Stock Exchanges for their approval/no objection in terms of Regulation 37 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. We are pleased to inform that we have received no adverse observation from BSE Limited and National Stock Exchange of India Limited vide their letters dated April 15, 2020 on the draft Scheme of Amalgamation. The said letters are enclosed herewith for your reference. The Company would now approach Hon’ble National Company Law Tribunal for further process. Any developments in the above shall be duly intimated.

4. Scrip code : 523229
Name : Bharat Seats Ltd
Subject : Regarding Change In Promoters(Cessation Of ‘Sharda Motor Industries Limited’ And Entry Of ‘NDR Auto Components Limited’)
This is to inform that one of the Promoter Group Company, Sharda Motor Industries Limited has transferred 9000000 Equity Shares of Company on 11.04.2020 and its current shareholding as on date in the Company has decreased to Nil from 28.66 %. Further, with the above, Sharda Motor Industries Limited does not hold any share in the Company and as such shall no longer be part of “PROMOTER GROUP” as defined under clauses (zb) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. Further, to inform that another Promoter Group Company, NDR Auto Components Limited has acquired 9000000 Equity Shares of Bharat Seats Limited (“the Company”) on 11.04.2020 from Sharda Motor Industries Limited, another Promoter Group Company. The said change in Promoters is as per the Scheme of Arrangement which was approved by Hon’ble National Company Law Tribunal vide its orders dated 20.02.2020.

5. Scrip code : 540153
Name : Endurance Technologies Limited
Subject : Acquisition Of Adler Spa By Endurance Overseas Srl., Subsidiary Of The Endurance Technologies Limited
We inform that Endurance Overseas Srl, Italy, a subsidiary of the Company and the special purpose vehicle for strategic overseas investments, has acquired controlling equity stake of 99%, in Adler SpA.

6. Scrip code : 500271
Name : Max Financial Services Limited
Subject : Cancellation Of The Adjourned Extra-Ordinary General Meeting (EGM) Scheduled To Be Held Earlier In The Day
This is further to our earlier disclosure letters dated March 9, 2020 and April 2, 2020 for convening of an EGM seeking approval of the shareholders for issuance of equity shares of the Company on a preferential issue basis to Mitsui Sumitomo Insurance Company Limited, Japan (MSI) for consideration other than cash, i.e., by way of acquisition of a portion of MSI’s shareholding in Max Life Insurance Company Limited, the Company’s sole subsidiary. In this regard, we would like to inform you that the adjourned EGM scheduled to be held earlier today at 11.00 A.M. at the Registered Office of the Company at Bhai Mohan Singh Nagar, Railmajra, Tehsil Balachaur, District Nawanshahr, Punjab – 144 533 could not be held for want of requisite quorum due to nationwide lockdown arising from COVID-19.

7. Scrip code : 532432
Name : United Spirits Limited
Subject : Announcement Under Regulation 30 – Fund Raising By Our Investee Company
Further to the disclosure made by the Company on 25th June, 2018, regarding the acquisition of shares in HipBar Private Limited, please be informed that HipBar has today issued Compulsory Convertible Preference Shares (CCPS) to its promoter group for INR 3 crores. While the exact conversion ratio of these CCPS would be fixed at a later date, the dilution of Company’s equity in HipBar consequent to the aforesaid CCPS issuance is expected to be in the range of 2.4% to 3.4%. Accordingly, the revised shareholding of the Company (on a fully diluted basis) is expected to be 22.6% to 23.6%.