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IEC Softwares – Issue of Warrants on Preferential Basis |
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The Board of Directors of the Company at its meeting held on January 04, 2008, has decided to issue Warrants convertible into Equity Shares on preferential basis to the persons belonging to promoters as well as Non Promoter category. |
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IEC Softwares – Allotment of Warrants |
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The Board of Directors of the Company at its meeting held on March 10, 2008, inter alia, has decided that after the receipt of the in-principal approval from Stock Exchange and approval of the members of the Company at the Extra Ordinary General Meeting held on January 30, 2008, 70,00,000 (Seventy Lacs) Convertible Warrants at a price of Rs 30/- each, which are convertible into equity number of Equity shares of Rs 10/- each at a premium of Rs 20/- within a period of 18 months, on preferential basis to following persons belonging to the Promoter as well as non Promoter group, allotted:
(A) Promoter Group
1. Names of the allottee: R L Gupta
No. of warrants allotted: 17,38,000
2. Names of the allottee: Sharda Gupta
No. of warrants allotted: 17,38,000
(B) Non Promoter Group
3. Names of the allottee: Rajender Bhushan
No. of warrants allotted: 10,29,000
4. Names of the allottee: Vikram Badhwar
No. of warrants allotted: 6,65,000
5. Names of the allottee: Ashok Sharma
No. of warrants allotted: 6,65,000
6. Names of the allottee: Sakshi Sharma
No. of warrants allotted: 1,65,000
7. Names of the allottee: Balkishan Saraf
No. of warrants allotted: 10,00,000 |
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Date:- March 18 ,2008 |
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IEC Softwares –Acquisition and Merger of VEF Information Systems Pvt. Ltd with IEC |
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The Board of Directors of the Company at its meeting held on March 18, 2008, has considered and approved the proposal for acquisition and merger of VEF Information Systems Pvt Ltd, a Company providing various educational and support services to certain private educational institutes in North India, providing engineering and management education to students at graduate and post-graduate levels.
IEC is keen in exploring the organic as well as inorganic initiatives to expand in the field of Education and thus is willing to acquire VEF since VEF already has a good client base. The acquisition shall be done by way of merging VEF with IEC.
The Scheme shall be subject to requisite consent / approval of the requisite majority of the shareholders and creditors of the Companies, the Hon'ble High Court of Delhi the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme. |
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The Board of Directors of the Company approved of change the main objects of the Company and change in the name of the Company. |
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IEC Softwares - Result of Postal Ballot |
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The Chairman of the Company has declared the result of postal ballot based on the report of the independent Scrutinizer appointed for the purpose whose report received on June 26, 2008. |
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IEC Softwares – Appointment of Mr. Navin Gupta as Managing Director, project at Alwar ,Postal Ballot Result |
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IEC Softwares Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 27, 2008, inter alia, has considered the following:
1. Appointment of Mr. Navin Gupta as Additional Director and subsequently Managing Director of the Company subject to the approval of the shareholders.
2. To execute agreement with Vocational Education Trust to establish and maintain Womens' Technical College and School at Alwar. This agreement is the first initiative in Company's endeavours to enter the other verticals of Education industry. |
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IEC Softwares – Agreement with IEC College of Engineering and Technology, Greater Noida |
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The Board of Directors of the Company at its meeting held on July 28, 2008, inter alia, has entered into a service agreement with IEC College of Engineering and Technology (IEC-CET).
IEC-CET, a college of international standing, was established under aegis of Vocational Educational Foundation, in 1999 in Greater Noida, Uttar Pradesh. It offers various degree course in Engineering and Management. In a short span of nine years, the student family of IEC-CET has grown tremendously and currently has more than 3000 students members. IEC-CET has emerged as a sought-after institution, and is growing in popularity at a fast pace and its reputation of being a place offering high quality professional education is spreading in India as well as in other parts of the world.
IEC-CET is approved by AICTE;Affiliated to:UPTU (Uttar Pradesh Technical University); Enlisted with: A.I.U. (Association of Indian Universities) and Empanelled by ICCR.
Under the agreement the Company alongwith other services would also be providing educational advisory services to IEC-CET thus this agreement would be an extension by the Company of its business activities in the educational sector. |
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IEC Softwares - Change of Name of the Company |
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Pursuant to the Central Government approval under section 21 of the Companies Act, 1956, name of the Company has been changed from "IEC Softwares Ltd" to "IEC EDUCATION LTD" with effect from July 31, 2008. |
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IEC Softwares – Result of Poll conducted at AGM 2008 |
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The result of Poll conducted at 14th Annual General Meeting (AGM) of the Company, on August 06, 2008, with respect to item No 9 relating to appointment and fixation of remuneration of Mr. Naveen Gupta as Managing Director, which has approved with the modification in the date of appointment from June 27, 2008 instead of October 01, 2008. |
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IEC Softwares – Change in Registered office |
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The registered office of the Company has been changed from M-92, Connaught Place, New Delhi-110001 to "5, Sant Nagar, East of Kailash, New Delhi- 110065". |
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IEC Education equity shareholders & unsecured creditors to approve Scheme of Amalgamation |
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IEC Education Ltd has informed BSE that by an order dated August 13, 2008, the Hon'ble High Court of Delhi at New Delhi has directed that separate meeting of the Equity Shareholders and of unsecured creditors of the Company will be held on October 18, 2008 for the purpose of considering and it thought fit, approving, with or without modification, the arrangement embodied in the proposed Scheme of Amalgamation between VEF Information System Pvt Ltd and the Company. |
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IEC Education - Updates on Scheme of Amalgamation |
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IEC Education Ltd has informed BSE that the Equity Shareholders as well as the Unsecured Creditors of the Company have, at their Court Convened Meetings held on October 18, 2008, approved with the requisite majority & without any modification, the Scheme of Amalgamation embodied in the Scheme of Arrangement between the Company VEF Information Systems Pvt Ltd. |
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IEC Education - Outcome of Board Meeting |
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IEC Education Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 04, 2009, inter alia, has taken on record the following two matters:
1. Order of Hon'ble Delhi High Court sanction the scheme of amalgamation of VEF Information System with IEC Education Ltd (formerly known as IEC Softwares Ltd). The provisional order of which was received on January 19, 2009.
2. Concession Agreement dated January 30, 2009, entered between the Government of Punjab (through Director, Department of Technical Education and Industrial Training) and Vocational Education Foundation & IEC Education Ltd - Consortium) for the development, Financing, operation, maintenance and management of the integrated colleges and polytechnic at Nanowal Vaid, district Hoshiarpur on the Public Private Partnership format |
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Date:- 17 February 2009 |
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IEC Education - Outcome of Board Meeting |
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IEC Education Ltd has informed BSE that pursuant to the Scheme of Amalgamation of VEF Information Systems Pvt. Ltd with the Company, approved and sanctioned by the Hon'ble High Court, Delhi on January 06, 2009, the Board of Directors has at its Meeting held on February 17, 2009 issued and allotted 32,60,000 (Thirty Two lac and sixty thousand only) Equity Shares of Rs 10/- each in the share exchange ratio, to the shareholders of VEF Information Systems Pvt. Ltd. |
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| Date:-31 August 2009 |
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IEC Education - Outcome of Board Meeting |
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IEC Education Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 28, 2009, inter alia, has approved the allotment of 20,00,000 equity shares pursuant to the conversion of preferentially allotted warrants to the following persons, from whom money has been received and who have exercised their right of conversion:
1. Name of the persons : Mr. R. L. Gupta (Promoter's Group)
- No of Shares Allotted : 86,735
2. Name of the persons : Mr. Sharda Gupta (Promoter's Group)
- No of Shares Allotted : 10,38,000
3. Name of the persons : Mr. Balkrishna Saraf (Non-Promoter's Group)
- No of Shares Allotted : 6,30,000
4. Name of the persons : Mr. Rajinder Bhushan (Promoter's Group)
- No of Shares Allotted : 2,45,265.
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Date:-10 September 2009 |
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IEC Education - Outcome of Board Meeting |
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IEC Education Ltd has informed BSE that the Company, on receipt of all the requisite approvals, on March 10, 2008, allotted 70,00,000 warrants at an Issue Price of Rs. 10/- each, to persons belonging to promoter and non promoter category. The allottees paid upfront 10% amount (i.e. Rs. 3/- each) at the time of allotment thereof. The same were convertible into equivalent number of Equity Shares, within a period of 18 months from the date of allotment thereof.
Out of the total warrants, on September 11, 2008, 30,00,000 warrants were converted into equivalent number of Equity Shares and on August 28, 2009, another 20,00,000 warrants have been converted into equivalent number of Equity Shares.
The conversion option in respect of balance 20,00,000 warrants has not been exercised by the allottees, and thus, Rs. 3/- each received in respect thereof stands forfeited
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Date:- 30 September 2009 |
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IEC Education - Outcome of Board Meeting |
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IEC Education Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 22, 2009 to September 29, 2009 (both days inclusive) for the purpose of 15th Annual General Meeting (AGM) of the Company to be held on September 29, 2009
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