Company update 12.12.19

AAVAS FINANCIERS LTD

We inform you that the Executive Committee of the Board at their meeting held today i.e. December 12, 2019 has pursuant to the authority entrusted by the Board of Directors and within the limits as approved by the Members of the Company vide special resolution passed at the 9th Annual General Meeting held on August 01, 2019 inter-alia approved the issuance of secured, rated, unlisted, redeemable, transferable NonConvertible Debentures ("NCDs") having a face value of INR 10,00,000 (Indian Rupees Ten lakh only) each, aggregating up to an amount of INR 460 crore (not exceeding the INR equivalent of USD 60,000,000 {United States Dollars sixty million only}) on a Private Placement basis, in accordance with the provisions of Sections 42 and 71 of the Companies Act, 2013.

BANK OF BARODA

We refer to our letter no. BCC:ISO:110:16:527 dated 05.12.2018 and advise that Bank of Baroda has signed the binding Share Purchase Agreement (SPA) for sale of business of Bank of Baroda (Trinidad & Tobago) Limited (BOBTTL) with Ansa Merchant Bank Ltd., subject to approval from host country regulator - Central Bank of Trinidad & Tobago (CBTT).

The Bank's wholly-owned overseas subsidiary at Trinidad & Tobago viz. BOBTTL started its operations on 17.10.2007. As a part of rationalization of Bank's international operations, Bank has approved the sale of business of BOBTTL.

BIOCON

Biocon & Equillium Expand Exclusive Licensing Agreement for Itolizumab to Include Australia and New Zealand

A clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop products to treat severe autoimmune and inflammatory disorders, today announced that they have expanded their collaboration and license agreement for itolizumab to grant Equillium exclusive rights for developing and commercializing itolizumab in Australia and New Zealand

DATAMATICS GLOBAL

This is to inform you that, the Board of Directors of Datamatics Global Services Limited ("the Company") at their Meeting held on December 11, 2019, has approved, to divest the stake which is indirectly held by the Company in its Step Down and Material Foreign Subsidiary, namely CIGNEX Datamatics, Inc. (CIGNEX US), a corporation headquartered in USA to the buyer namely, Relevance Lab Pte Ltd, Singapore, having identification / registration no. 201115096G, subject to approval of the shareholders and all concerned statutory and regulatory authorities, as may be necessary.

It is clarified that the Company through its wholly-owned subsidiary i.e. Datamatics Global Technologies Limited, Mauritius holds 62.51% stake in Cignex Datamatics Corporation (CIGNEX BVI), a company incorporated under the laws of British Virgin Islands. CIGNEX BVI in turn holds 100% of the share capital of CIGNEX US. T

he entire stake held by CIGNEX BVI in CIGNEX US will be sold to Relevance Lab Pte Ltd. The details as required pursuant to Regulation 30 of the Securities and Exchange Board of India

L&T

L&T Construction awarded (*Significant) contract for its Heavy Civil Infrastructure Business

The Heavy Civil Infrastructure business of LaT Construction has secured a prestigious order from Rail Vikas Nigam Limited (RVNL) for the construction of Rishikesh - Karanprayag Tunnel 2 package works comprising tunnels, bridges and formation works in the state of Uttarakhand.

The project consists of the main tunnel with parallel escape tunnel and ballast-less track that runs inside the main tunnel.

This is a fast track project to be completed within stringent timelines

MARUTHI SUZUKI

Maruti Suzuki Super Carry, Company’s first Light Commercial Vehicle has achieved the milestone of 50,000 unit sales within 3 years of its launch.

Built on latest technology, Super Carry offers best-in-segment power and mileage, along with the promise of extensive service support. It aims to augment business of its customers, helping them become more efficient and profitable. Super Carry has proven that mini-trucks can be comfortable to drive, easy to maintain and profitable for the owner

The light commercial vehicle segment has been the largest volume contributor in the commercial vehicle industry. Globally, Suzuki Motor Corporation has expertise in this segment and the Super Carry is part of that lineage. Maruti Suzuki Super Carry is available across the Company’s 319 Commercial Sales Outlets in 217 cities.

NAVIN FLUORINE

We wish to inform you that Navin Fluorine International Limited is planning a capex program at Dahej (Gujarat) through a wholly owned subsidiary with an estimated aggregate capital outlay of over Rs. 450 crores over the next 3 - 4 years.

The Board of Directors, at their meeting held today has initially approved capital expenditure of approx. Rs. 90 crores for site development and related infrastructure on approx. 74 acres of land for greenfield projects at Dahej (Gujarat) through a wholly owned subsidiary, to be incorporated, details of which are annexed. The said capital expenditure will be funded by the Company out of its internal accruals.

The development of the infrastructure will enable the Company to set up various future greenfield projects in fluorochemicals. Each of these projects will be separately approved by the Board over a period of time and we shall update all in the due course.

The Company currently has manufacturing units at Surat (Gujarat) and Dewas (Madhya Pradesh).

NESTLE INDIA

Nestle India as a responsible corporate citizen has passed on the benefits of GST to consumers and will consider appropriate actions post studying the order by the National Anti-Profiteering Authority (NAA)

Nestle India prides itself in being a responsible, responsive and fully compliant corporate citizen. We have taken appropriate measures to pass on commensurate be.nefits of GST to our consumers.