HCL Technologies Board approves scheme of amalgamation

24th February 2005: HCL Technologies Ltd has informed BSE that Board of Directors has approved the amalgamation of DSL Software Ltd, Shipara Technologies Ltd, HCL Technologies BPO Services Ltd, HCL Technologies (Mumbai) Ltd, Aquila Technologies Ltd and HCL Enterprise Solutions (India) Ltd, all wholly owned subsidiaries of the Company, with the Company by way of a Scheme of Amalgamation under Section 391 to 394 of the Companies Act, 1956. The Board of Directors has also approved the draft Scheme of Amalgamation for the merger of the said companies.

The approval of the Board is subject to requisite approvals that may be required, including those of shareholders, creditors, any regulatory authorities and the sanction of the Scheme of Amalgamation by the Hon'ble High Courts of Delhi and Kamataka.

DCM Shriram Industries Board approves proposal of Amalgamation / Merger

24th February 2005: DCM Shriram Industries Ltd has informed BSE that the Board of Directors of the Company & Daurala Organics Ltd in their meetings held on February 24, 2005 have approved the proposal of amalgamation/merger of Daurala Organics Ltd with the Company. As per the Scheme one fully paid equity share of Rs 10/- in the Transferee Company will be allotted for every ten equity shares of Rs 10 each in the Transferor Company upon coming into effect of the Scheme.

HCL acquires AnswerCall Direct Contract Centre in Northern Ireland

24th February 2005: HCL Technologies Ltd, one of India's leading global IT services companies providing software led IT solutions, BPO and Infrastructure management services, on February 24, 2005 announced the acquisition of the assets of the former AnswerCall Direct Contact Centre in Armagh, Northern Ireland. In a deal worth £3.9m (Rs 293.90 million), the Company has through its subsidiary in Northern Ireland, HCL Technologies BPO Service (NI) Ltd, acquired the assets and business of AnswerCall Direct Ltd, from receivers, PricewaterhouseCoopers (PwC). This establishes HCL's position as the single largest Outsourced Contact / BPO Centre operation on the Island of Ireland.

The Company has been operating in Northern Ireland since the last three years, post the acquisition in December 2001, of the Apollo Contact Centre in Belfast from BT. This BPO operation has registered strong growth, increasing its employee base from about 350 at the time of acquisition to over 1600 today. It has grown to become Northern Ireland's largest BPO delivery operation and one of the top 10 private sector employers in the region.

In recognition of the company's achievements, the Northern Ireland government recently conferred grant assistance of approximately £900,000 to facilitate additional job creation.

Commenting on the new acquisition Mr. Ranjit Narasimhan, Chief Operating Officer of Companys' global BPO operations said, "This additional investment in Northern Ireland endorses our confidence in the capability and commitment of our local team. It is a vote of confidence in our workforce and the government of Northern Ireland, both of whom have; made vital and valuable contributions to the success of HCL's operations in the region."

The acquisition of the Contact Centre at Armagh adds 190 more professionals to the HCL team in Northern Ireland and translates into an enhanced workforce of 1,800 people. The acquisition also brings the company captive expertise in select domains including media and transportation, allowing HCL to further expand its domain expertise into newer areas of functioning.