Binani Industries Press and Media
Press Releases

20th October, 2016

A meeting of Board of Directors will be convened on 27th October, 2016 interalia to consider and approve the Unaudited Standalone Financial Results for the quarter and half year ended 30th September, 2016.

2nd September, 2016

Competition Commission of India (CCI) on complaint filed by Builders Association of India had passed an order, alleging cartelization and anti-competitive agreement, levying penalty on Binani Cement Limited (BCL), a subsidiary of the Company on 20th June 2012. BCL had filed appeals against the same. Thereafter, the Competition Appellate Tribunal (COMPAT) had stayed the order of CCI and sent back the same to CCI for fresh adjudication of the issue relating to violation of the Competition Act and directed the CCI to pass fresh orders after allowing just and fair procedure within a period of 3 months.

On 31st August 2016 an order was uploaded on website of CCI, a copy of which the company is yet to receive.

The company will decide on future course of action after studying the same in detail and will seek appropriate legal advice.

20th July, 2016

A meeting of Board of Directors will be convened on 29th July, 2016 interalia to consider and approve the Unaudited Financial Results for the quarter ended 30th June, 2016.

28th June, 2016

The Company has received the copy of the order of Bombay High Court dated 23rd June, 2016, disposing off the writ petition by Edayar Zinc Ltd (EZL) one of the subsidiaries of the Company, filed against the action initiated by its Secured Creditors under Section 13(4) of the SARFAESI Act, 2002. The Court whilst ruling in favour of Secured Creditors has granted six weeks period from the date of the order for seeking appropriate legal remedy from DRAT and directed Secured Creditors to seek only symbolic possession of immovable property during such period granted to EZL

26th May, 2016

In terms of Regulation 33(3)(b) of SEBI (Listing Obligations and Disclosure Obligations) Regulations, 2015, the Company has intimated the Stock Exchanges that the Company would continue to submit Standalone quarterly/year-to-date financial results for the quarter ended 30th June, 2016 and for the remaining quarters of the Financial Year 2016-17.

20th May, 2016

A meeting of Board of Directors will be convened on 30th May, 2016 interalia to consider and approve the Audited Financial Results (standalone and consolidated) for the quarter and year ended 31st March, 2016

29th April, 2016

We would like to inform you that the Allotment Committee of the Board of Directors of the Company at its Meeting held today, allotted 17,69,750 Equity Shares of Rs. 10/- each to equity shareholders of Binani Metals Limited (BML) and 2,98,000 0.01% Non-Cumulative Redeemable Preference Shares of Rs. 100/- each to the preference shareholder of BML on the basis of records as at 22nd April, 2016 (the Record Date) pursuant to Scheme of Amalgamation of BML with the Company and their respective shareholders.

21st April, 2016

The Board of Directors of the Company at its meeting held today inter alia:

  1. Noted resignation of Mrs. Jayantika Dave;
  2. Appointed Mrs. Sangeeta Pandit as an Additional Director and Independent Director of the Company with immediate effect;
  3. Approved issue of 17,71,600 Equity Shares of Rs. 10/- each to equity shareholders and 2,98,000 0.01% Non-Cumulative Redeemable Preference Shares of Rs. 100/- each to the preference shareholder of Binani Metals Limited (BML) respectively as on 22nd April, 2016, the record date pursuant to Scheme of Amalgamation of BML with the Company and their respective shareholders.

5th April, 2016

The Board of Directors has approved 22nd April, 2016 as Record Date for the purpose of taking record of shareholders of Binani Metals Limited (BML) for issue and allotment of shares in accordance with the Scheme of Amalgamation of BML into the Company and their respective shareholders.
 
The Company and BML have filed today the certified true copy of the Order in respect of aforesaid Scheme with Registrar of Companies, West Bengal. Accordingly, the Scheme has come into operation on 5th April, 2016.

28th March, 2016

Credit Analysis & Research Limited (CARE) has revised its rating of the Company from CARE BB (Double BB) to CARE B+ (Single B plus).
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