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Daily Bulletin (18th September, 2019)

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Daily Bulletin (18th September, 2019)

1.Scrip code : 500520
Name : Mahindra & Mahindra Ltd.
Subject : Cessation Of Subsidiary
Sub: Cessation of Subsidiary The Company has received an intimation from Mahindra Defence Systems Limited, an unlisted wholly owned subsidiary of the Company (‘MDSL’), that the Mumbai Bench of the National Company Law Tribunal (‘NCLT’) has sanctioned the Scheme of Amalgamation (Merger by Absorption) of Mahindra Defence Naval Systems Limited (Formerly Mahindra Defence Naval Systems Private Limited), a wholly owned subsidiary of MDSL (‘MDNSL’), with MDSL and their respective Shareholders and Creditors (‘the Scheme’). The Certified Copy of this Order sanctioning the Scheme has been filed electronically by MDSL and MDNSL with the Registrar of Companies, Maharashtra, Mumbai on 18th September, 2019 and the Scheme has become effective from 18th September, 2019. Pursuant to the said Scheme being made effective, MDNSL has ceased to be a subsidiary of MDSL and in turn of Company with effect from 18th September, 2019.

2.Scrip code : 540222
Name : Laurus Labs Limited
Subject : Announcement under Regulation 30 (LODR)-Acquisition
This is to inform you that Laurus Labs Limited has agreed to acquire 100% shares of Phekolong Pharmaceuticals Pty Ltd, a wholly owned subsidiary company of Pharmacare Limited t/a Aspen Pharmacare, South Africa, subject to completion of conditions precedent, by way of cash consideration of ZAR 75,000 (Seventy-five thousand South African Rand). At the conclusion of the transaction, all residual assets and liabilities that are within the target company immediately prior to completion will be for Pharmacare Limited’s account and accordingly all such assets and liabilities will be transferred from the target company to Pharmacare Limited immediately prior to completion.

3.Scrip code : 500520
Name : Mahindra & Mahindra Ltd.
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Incorporation of a new wholly owned Subsidiary Company in Bangladesh

4.Scrip code : 506525
Name : Kanoria Chemicals & Industries Ltd.
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement In continuation of our letter dated 18th May, 2018 in the matter, this is to inform that the National Company Law Tribunal (NCLT), Kolkata Bench, has approved the Scheme of Amalgamation of Pipri Limited (Company’s wholly owned subsidiary) with the Company with effect from 1st April, 2018. The certified copy of the Order was received by the Company on 17th September, 2019. This is for your information and records.

5.Scrip code : 500315
Name : Oriental Bank Of Commerce
Subject : Outcome of Board Meeting
Further to our letter dated 12.09.2019, we wish to inform that the Board of Directors of the Bank in its meeting held today, i.e. 18.09.2019 has considered and accorded its ”In-principle approval” for amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank and commencement of the amalgamation process, subject to all applicable approvals. The meeting of the Board of Directors commenced at 12.00 noon and concluded at 2:50 p.m.

6.Scrip code : 535789
Subject : Media Reports Regarding A PIL Against The Company And Its Promoter
It has come to our notice through media that a PIL has been filed against the Company (IBH) & Promoters in Delhi High Court. The petition hasn’t yet been filed in High Court as per its website, but leaked in social media with malicious intent to create turbulence in IBH stock price. 2. The purported PIL admits that allegations are same as in earlier petition of Abhay Yadav which was subsequently withdrawn. Abhay in his statement admitted that allegations against IBH were based on incorrect & twisted data & he had filed it at behest of the mastermind of blackmailing racket who was then arrested & is in jail. 3. Instead of going to regulatory agencies & making complaint, the petitioners chosen route of PIL to attract attention & play into hands of blackmailers & corporate rivals at a sensitive time of merger process of IBH & Laxmi Vilas Bank. For past 3 months, IBH is undergoing inspections of regulators as part of merger process. IBH is determined to fight out petitioners in court.

7.Scrip code : 532960
Name : Indiabulls Ventures Limited
Subject : Announcement under Regulation 30 (LODR)-Change in Directorate We write to inform you in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that the Company has appointed Mr. Praveen Kumar Tripathi, a retired IAS and Ex- Chief Secretary, Govt. of NCT Delhi (DIN: 02167497), as Independent Director on the Board of the Company for a period of two years, w.e.f. today i.e. September 16, 2019, in place of Mr. Abhaya Prasad Hota (DIN: 02593219), Independent Director of the Company, who has resigned from the Board of the Company, with effect from today, due to his health issues (kidney transplant in the recent past), which has restricted his professional activities to the minimum for about a year. Mr. Hota has confirmed that there is no other reasons for his resignation other than his ill health. The Board has placed on record its appreciation for the valuable contribution made by Mr. Hota to the Company, during his tenure. For details pls. refer attachment.

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