Mphasis BFL Board approves proposal for merger

12th July 2005: Mphasis BFL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 11, 2005, has approved, subject to receipt of necessary approvals, a proposal for merger of Kshema Technologies Ltd (a wholly owned subsidiary of the Company) with the Company.

GA European Investments (GA) to acquire 7.954% stake in New Delhi Television Ltd (NDTV)

13th July 2005: NDTV, a leading television broadcast and content company, in a release issued to the NSE today, announced that GA European Investments (GA), a company incorporated in the Republic of Cyprus, is planning to acquire 48,36,000 equity shares of the company from Shyam Cellular Infrastructure Projects.

The acquisition, which constitutes 7.954% of the issued and paid-up capital of NDTV, is subject to the terms of the requisite documentation between GA and Shyam Cellular Infrastructure Projects and approvals from the concerned government authorities, the release added.

Reliance Energy (REL), Reliance Capital (RCL) rule out acquisition plans

11th July 2005: Anil-Ambani controlled Reliance Energy and Reliance Capital on Monday ruled out any new acquisition plans. In two separate communications to the Stock Exchange, Mumbai, Reliance Energy said it had no plans to acquire Jyoti Structures while Reliance Capital ruled out acquisition plans for Crest Animations Studio Ltd, Saregama Ltd, Srinagar Cinema Ltd and Indusind Bank Ltd. The clarification comes in wake of recent media reports about the acquisitions.