18th April 2005: Indian Overseas Bank ("Manager to the Offer") on behalf of M/s Superstar Exports Pvt Ltd ("Acquirer No 1") , M/s Raneka Fincom Pvt Ltd ("Acquirer No 2"), M/s Padmavatiasha Properties & Projects Pvt Ltd ("Acquirer No 3") and M/s Pranam Securities Ltd ("Acquirer No 4") (Collectively referred as "Acquirers") has issued the Public Announcement to the fully paid equity shareholders of Nu Tech Corporate Services Ltd ("Target Company"), pursuant to Regulation 10 read with regulation 12 and in compliance with the Securities & Exchange Board of India (Substantial Acquisitions of shares and Takeovers) Regulations, 1997 and subsequent amendment thereto ["SEBI (SAST) Regulations"] as below:

The Offer

The Acquires are making an offer to acquire 24,00,001 equity shares of the 10/- each fully paid up representing 20% of the paid up equity share capital / Voting Right of the Target Company at a price of Rs 4.34/- (Rupees Four and Thirty Four paisa only) per fully paid up equity share (Offer Price) payable in cash subject to the terms & conditions.

Schedule of Activities

Specific Date: May 13, 2005

Date of opening of the Open Offer: June 09, 2005

Date of closing of the Open Offer: June 29, 2005

18th April 2005: Indian Overseas Bank Merchant Banking Division, ("Manager to the Offer") on behalf of M/s Superstar Exports Pvt Ltd ("Acquirer No 1"), M/s Raneka Fincom Pvt Ltd ("Acquirer No 2"), M/s Padmavatiasha Properties and Projects Pvt Ltd ("Acquirer No 3"), and M/s Pranam Securities Ltd ("Acquirer No 4") (Collectively referred to as "Acquirers") has issued Public Announcement to the fully Paid Equity shareholders of Industrial Investment Trust Ltd ("Target Company"), pursuant to Regulation 10 read with Regulation 12 and in compliance with the Securities and Exchange Board of India (Substantial Acquisitions of shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ["SEBI (SAST) Regulations"], as below:

The Offer

The Acquires are making an offer to acquire 20,00,000 equity shares of Rs 10/- each fully paid up representing 20% of the paid up equity share capital / Voting Right of Target Company at a price of Rs 40/- (Rupees Forty Only) per fully paid up equity share ("Offer Price") payable in cash subject to the terms and conditions.

Schedule of Activities

Specific Date: May 13, 2005

Date of opening of the Open Offer: June 09, 2005

Date of closing of the Open Offer: June 29, 2005

15th April 2005: DSP Merrill Lynch Ltd ("Manager to the offer") on behalf of Caterpillar Commercial S A ("Acquirer") in respect of the proposed acquisition and delisting of the fully paid-up equity shares of Hindustan Powerplus Ltd (the "Target Company") pursuant to the Securities & Exchange Board of India (Delisting of Securities) Guidelines, 2003, has announced as follows:

Offer

The Acquirer invites the public holders of the fully paid-up equity shares of the Target Company (being all holders other than the acquirers) to tender to the Acquirer, on terms and subject to conditions set out, all of their equity shares in the Target Company, being 2,543,746 equity shares of Rs 10 each as at April 14, 2005, representing approximately 8.01% of the fully paid-up equity share capital of the Target Company.

The Guidelines requires determination of "Floor Price" for the shares to be acquired pursuant to the reverse book-building process.

The Acquirer intends to acquire the shares at the Floor Price of Rs.66/- per share and as such the Acquire reserves the right not to acquire the offered shares at any higher price established pursuant to the reverse book-building set forth in the Guidelines.

Schedule of Activities:

Bid Opening Date - May 02, 2005.

Bid Closing Date - May 06, 2005.

Announcement of Exit Price and the Acquires Acceptance / Non-Acceptance of Exit Price: May 10, 2005.

15th April 2005: The board of auto parts maker Bharat Forge Ltd. has approved a Global Depositary Receipts (GDR) issue of $100 million and a foreign currency convertible bond (FCCB) issue of $120 million. The GDR, which includes a $10 million greenshoe option, will be priced at $27.50 per GDR, the company told the Bombay Stock Exchange today. The FCCBs will be offered in two tranches of $60 million each.

The Value Added Tax System of taxation of sales of goods in Maharashtra is effective from 1^st April, 2005. The following explains some of the basic issues:

TREATMENT OF CLOSING STOCK AS ON 31^ST MARCH, 2005

This explains the treatment of closing stock as on 31^st March, 2005.

1. Set-off of the tax paid on purchases in closing stock is available if goods in stock are resold after 1^st April, 2005 upto 31^st December, 2005.

2. (a) The dealers who wish to claim set-off on closing stock have to furnish statement of closing stock upto 30^th April, 2005, whereas

    (b) Manufactures, Importers, Retailers under composition, Drugs and medicine dealers           related to schedule entry C-29 of VAT Act, 2002, need not furnish statement of            closing stock.

3. (a) Set-off will be available on purchases covered by Bombay Sales Tax Rules, 1959 applicable as on 31^st March 2005;

    (b) In respect of purchases covered by any of the earlier laws other than Bombay                   Sales Act, 1959, set-off will be available of sum collected separately from claimant dealer.

4. Goods held as on 31.03.2005 by trade originally manufactured by an exempted unit under Package Scheme of Incentives are to be taxed on the margin of gross profit at the scheduled rate of tax in VAT.

COMPOSITION SCHEME FOR RETAILERS

1. Turnover limit of Rs.  50 lakh for retailers opting for composition. Note: The Maharashtra Government has moved the Empowered Committee of State Finance Ministers to all retailers.

2. Composition scheme is available to the dealer satisfying following criteria

    (a) Atleast 90%of sales are made to persons who are dealers. (i.e. consumers)

    (b) He should not be a manufacturer or importer.

    (c) He should not effect inter-state purchase after 1^st April, 2005.

    (d) He should not be selling liquor.

3. Rate of Tax:

    (a) 8% on the difference of the total of all sales and of all purchases (including tax, if any) during the return period.

         (i) The selling dealer should not collect tax separately on sales.

         (ii) The selling dealer should not claim set-off

    (b) For the return period 1^st April, 2005 to 30^th September, 2006 the retailer should consider only 5/6thn of the turnover of sales instead of the total of all sales.

4. Other Facts:

     (a) Need not issue “tax invoice” – he should issue bill/cash memorandum.

     (b)Bill/ Cash memorandum should cont6ain the following particulars:

          (i) should be serially numbered;

          (ii) signed and dated;

          (iii) give full name and style of business;

          (iv) address of place of business;

          (v) number of his certificate of registration;

          (vi) particulars of goods sold (quantity/number etc.) and sale price thereof

     (c) Bill/cash memo must also contain the following certificate_

“I/we hereby certify that my/our registration certificate under the Maharahtra      Value Added Tax Act, 2002 is in force on the date on which sale of goods specified in this bill/cash memorandum is made by we/us, and that the transaction of sale covered by this bill/cash memorandum has been effected by me and it shall be accounted for in the turnover of sales while filing my returns”.

TAX INVOICE

1. The registered dealer under VAT may issue tax invoice. If he issues tax invoice then only the purchasing dealer can claim set-off on his purchases.

2. The registered dealers opting for composition scheme need not issue tax invoice. He may issue bill or cash memorandum.

3. An unregistered dealer can not issue tax invoice.

4. The Tax invoice shall contain the following particulars on the original as well as on all copies thereof:-

     (i) The word “tax invoice” in bold letters at the top or at any prominent place. Rubber stamp may be used for this purpose (For old stationery)

     (ii) Certificate as below to be printed on invoice (Rubber stamp may be used for old stationery)

“I / We hereby certify that my / our registration certificate under the Maharashtra Value Added Tax Act, 2002 is in force on the date on which the sale of goods specified in this “tax invoice” is made by me / us and that the transaction of sale covered by this “tax invoice” has been effected by me / us and it shall be accounted for in the turnover of sales while filing of return and the due tax, if any, payable on the sale has been paid or shall be paid”.

     (iii) The name, address and registration certificate number of the selling dealer.

     (iv) An individualised serialised number and date on which the tax invoice is issued.

     (v) Description of the goods, the quantity or as the case may be, number and price of goods sold.

     (vi) The rate of tax and amount of tax charged thereon must be indicated separately; and

     (vii) Signed by the selling dealer or by a duly authorised person.

     (viii) Other norms are similar to the requirements of the earlier Bombay Sales Tax, 1959 (now repealed)

N.B. There is no prescribed format in which the tax invoice is to be raised. The registered dealer may use a format suitable to his business needs.

HIGHLIGHTS OF SET-OFF UNDER VAT

1. Full set-off is available to the dealers on purchase effected on “tax invoice” –where VAT is separately on or after 1^st April, 2005.

2. Set-off is also available on manufacturing of tax free goods and branch transfers outside the State but only in excess of 4%.

3. Set-off is available for dealers under Works Contract under normal VAT rules and norms as well as under the composition scheme.

4. Set-off available for FL-II Liquor retail shops on similar pattern as existed under BST Rules, 1959.

Dealers in second hand passenger cars subjected to a 4% VAT but entitled to set-off of the taxes paid to their vendor on purchases made for reconditioning the car.

OTHER ISSUES

I.       Who needs a new Registration ?

1. All existing dealers registered  under Bombay Sales Tax Act, 1959 (BST) whose turnover in F.Y.2004-2005 e4xceeds Rs. Five lakh need not apply for new certificate or new number. The old number under BST will continue.

2. Dealers who are not registered under BST but are registered under any other earlier (repealed) Acts, have to apply for new R.C. Number.

3. Voluntary registration is available without any deposit amount.

4. For Voluntary registration, Income Tax PAN and introduction by another registered dealer or Tax Consultant is required.

II Books of Accounts: Quite simple, only an additional column of VAT tax paid on purchases and for VAT levied on sales are to be added in the purchase and sale register respectively. Other books of accounts remain the same.

III Periodicity of Returns: Made much fewer. New norms are as follows:-

(i)   Tax liability in 2004-05 more than Rs. 1 Lakh                 - Monthly

(ii)  Tax liability in 2004-05 between Rs. 12000 to 1 Lakh    - Quarterly

(iii) Tax liability in 2004-05 below Rs. 12000                        - Six monthly

       Retailers under composition                                             - Six monthly