NITCO Tiles, Floor Tiles, Wall Tiles, Ceramic Tiles, Vitrified Tiles, Kitchen Tiles, Bedroom Tiles, Bathroom Tiles, Livingroom Tiles, The Only Premium Tiles Design Company in India

Notice is hereby given that the Forty Eighth Annual General Meeting (‘AGM’) of Members of the Company is scheduled to be held on Friday the 19th day of September, 2014, at 11.00 a.m. at Hall of Culture, Nehru Centre, Dr. Annie Besant Road, Worli, Mumbai - 400 018 to transact the businesses as set out in the Notice of the AGM.

Electronic copies of the Notice of the AGM and Annual Report for the period 2013-14 have been sent to all the shareholders whose email IDs are registered with the Company’s Registrar & Share Transfer Agent, Link Intime India Private Limited /Depository participants. Physical copies of the Notice of the AGM and Annual Report for 2013-14 have been sent to all other Shareholders at their registered address in the permitted mode.

Further, the Notice and Annual Report are available on our website www.nitco.in and the said documents will also be made available for inspection at the Registered Office of the Company during office hours.

Notice is also hereby given that pursuant to Section 91 of the Companies Act, 2013, read with Rule 10 of the Companies (Management and Administration) Rules, 2014 and Clause 16 of the Listing Agreement that the Register of Members and the Share Transfer Books of the Company shall remain closed from Friday, the 12th day of September, 2014 to Friday, the 19th day of September, 2014 (both days inclusive) for the purpose of the said Annual General Meeting.

Members are hereby informed that in compliance with the provisions of section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014, the Company is providing e-voting facility to its Members to cast their votes electronically on all the resolutions set forth in the Notice convening the 48th Annual General Meeting of the Company. The Notice of the AGM and the instructions for e-voting was dispatched to the members and the dispatch was completed on 26th August, 2014. The same are also available on the website of the Company, www.nitco.in and on the website of the service provider, https://www.evoting.nsdl.com.

The e-voting period commences on Saturday, September 13, 2014 (9:00 am IST) and ends on Monday, September 15, 2014 (6:00 pm IST). The e-voting module shall be disabled for voting thereafter and members will not be allowed to vote electronically beyond the said date and time.

In case of any queries, you may refer to the Frequently Asked Questions (FAQs) for members and e-voting user manual for members available at the Downloads sections of https://www.evoting.nsdl.com or contact Mr. Rajiv Ranjan, Assistant Manager, NSDL at the designated email IDs: evoting@nsdl.co.in or at following Telephone No.: 022-2499 4600.

Monday, June 23, 2014

Intimation about resignation of Director

Monday, March 24, 2014

Intimation about appointment of Nominee Director

Wednesday, February 12, 2014

Appointment of Mr. Vivek Talwar as the Chairman and Managing Director of the Company

Friday, December 20, 2013

Allotment of Equity Shares on Preferential Basis Pursuant to the CDR Scheme

Monday, September 30, 2013

Results of the Annual General Meeting

Date: 30 Sep 2013

This is further to inform you that the 47th Annual General Meeting (AGM) of the Company was held on 30th September, 2013. At the said Meeting, the Poll was conducted and all the resolutions have been passed with requisite majority. The results are stated hereinbelow:

Sr. No.	Particulars	Resolution 1 (Adoption of Annual Accounts and Report of Directors and Auditors for the year ended 31st March, 2013)	Resolution 2 (Re-appointment of Mr. Rohan Talwar as Director who retires by rotation)	Resolution 3 (Appointment of Statutory Auditors and fixing Remuneration)
a.	Total Equity Shares of Poll Papers received	17805958	17805958	17805958
b.	Less: Equity Shares of invalid Poll Papers	5	5	5
c.	Total Number of Valid Votes	17805953	17805953	17805953
i)	No. of Votes received with assent to the Resolution	17805953	17805953	17805953
	% of Assent	100.00	100.00	100.00
ii)	No. of Votes received with dissent to the Resolution	0	0	0
	% of Dissent	0	0	0

Friday, September 6, 2013

Notice for Annual General Meeting and Book Closure

Friday, June 7, 2013

Results Of The Postal Ballot

Date: 7 Jun 2013

Pursuant to the section 192A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2011, the Company had sought the approval of the shareholders through Postal Ballot voting process for passing the Resolutions as detailed vide its Notice dated 30th April, 2013. The last date of receipt of Postal Ballot Forms, duly completed by the Shareholders in the self-addressed, postage prepaid envelope was 5th June, 2013. The Scrutinizer submitted his report on the Postal Ballot on 6th June, 2013 and the Managing Director announced the results to the shareholders on 7th June, 2013 at the Corporate Office of the Company situated at Plot No. 3, Kanjur Village Marg, Kanjur Station Road, Kanjurmarg (E), Mumbai - 400042. The said results are stated hereinbelow:

Sr. No.	Particulars	Resolution 1	Resolution 2	Resolution 3	Resolution 4	Resolution 5	Resolution 6
a.	Total Equity Shares of Postal Ballot Forms received	16172830	16172830	16172830	16172830	16172830	16172830
b.	Less: Equity Shares of invalid Postal Ballot Forms	491	406	406	406	406	406
c.	Total Number of Valid Votes	16172339	16172424	16172424	16172424	16172424	16172424
i)	No. of Votes received with assent to the Resolution	16026446	16025404	16026341	16026331	16026054	16025914
	% of Assent	99.10	99.09	99.10	99.10	99.09	99.09
ii)	No. of Votes received with dissent to the Resolution	145893	147020	146083	146093	146370	146510
	% of Dissent	0.90	0.91	0.90	0.90	0.91	0.91

Accordingly the above resolutions have been passed with requisite majority.

For Nitco Limited
Sd/-
Place: Mumbai Reena Raje
Date: 7th June, 2013

Tuesday, May 7, 2013

Completion of dispatch of Notice of Postal Ballot

Completion of dispatch of Notice of Postal Ballot

Date: 7 May 2013

Pursuant to Section 192A of the Companies Act, 1956 read with Rule 3(c) of the Companies (Passing of the Resolution by Postal Ballot) Rules, 2011, as amended, Members are hereby informed that the Company has completed the dispatch of the Postal Ballot Notice dated 30th April, 2013, along with the Postal Ballot Form and a self-addressed envelope (for which the postage will be borne and paid by the Company), on 6th May, 2013, to all the Shareholders/Beneficial Owners, whose names appear in the Register of Members on 26th April, 2013, for seeking their approval for the following Resolutions:

1. Authorisation for Restructuring of Debts;

2. Issue of Equity Shares on Preferential Basis under section 81(1A) of the Companies Act, 1956;

3. Increase in the Authorised Share Capital and amendment to the capital clause of the Memorandum of Association of the Company;

4. Amendment to the capital clause of Articles of Association of the Company;

5. Increasing the Borrowing Limits of the Company pursuant to section 293(1)(d) of the Companies Act, 1956;

6. Authorization for creation of charge/mortgage etc. on the properties of the Company pursuant to section 293(1)(a) of the Companies Act, 1956.

The Board of Directors of the Company has appointed Mr. Nilesh Shah, Practicing Company Secretary, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner. The Voting through Postal Ballot will commence on 7th May, 2013 and end on 5th June, 2013 (6.00 p.m.).

The duly completed Postal Ballot Forms should reach the Scrutinizer not later than the close of working hours (6.00 p.m.) on 5th June, 2013. Postal Ballot Forms received after this date will be strictly treated as if no reply has been received from such shareholder in terms of Rule 6(f) of the Postal Ballot Rules. In case of non-receipt of Postal Ballot Forms, a Shareholder may seek Duplicate Postal Ballot Form from the Corporate Office of the Company. A copy of the Notice along with the Form is attached herewith.

The Managing Director of the Company or any other Director/Officer as authorized by the Board of Directors will announce the results of the Postal Ballot on Friday, the 7th day of June, 2013 at the Corporate Office of the Company at Plot No.3, Kanjur Village Marg, Kanjur Road, Kanjurmarg (E), Mumbai - 400042.

Tuesday, April 30, 2013

Outcome of the Board Meeting

Outcome of the Board Meeting

Date: 30 Apr 2013

The Board of Directors of the Company at their Meeting held on 30th April, 2013, has decided to seek the approval of members through Postal Ballot under section 192A of the Companies Act, 1956 read with the Companies (Passing of resolution by Postal Ballot) Rules, 2011 for:

1.Approval, ratification and confirmation of the Corporate Debt Restructuring (CDR) Scheme as approved by the Corporate Debt Restructuring Empowered Group (the "CDR EG");

2. Issue of Equity Shares on Preferential Basis under section 81(1A) of the Companies Act, 1956;

3. Increase in the Authorised Share Capital and amendment in the Memorandum of Association of the Company;

4. Amendment to Articles of Association of the Company;

5. To take authority of Members under section 293(1)(d) of the Companies Act, 1956, for increasing the borrowing limits of the Company and

6. To take authority of Members under section 293(1)(a) of the Companies Act, 1956, for delegation of authority to the Board for creation of charge/mortgage.

Sunday, February 3, 2013

Appointment of Chief Executive Officer

Appointment of Chief Executive Officer

Date: 3 Feb 2013

This is to inform you that Mr. Ashok K. Goyal, has been appointed as the Chief Executive Officer of the Company. Mr. Goyal will be responsible for overall business operations of the company and will be reporting to Mr. Vivek Talwar, Managing Director.

Mr. Goyal is a Mechanical Engineer from IIT, Kanpur and did his PGDM from IIM, Kolkata. Mr. Goyal was associated with M/s Asian Paints Limited for 20 years. Prior to joining Nitco Limited, he was the Managing Director of M/s Hitech Plast Limited, a Listed Company at BSE & NSE, an entity promoted by one of the co-promoters Family of Asian Paints. During his career span of 38 years, he has successfully turned around businesses, managed high performing teams, set strategic directions for the company and ensured operational excellence leading to profitable business growth.

Monday, April 9, 2012

Notice for Annual General Meeting and Book Closure

Notice for Annual General Meeting and Book Closure

Date: 9 Apr 2012

Notice is hereby given that pursuant to provisions of Section 172(2) read with Section 53(3) of the Companies Act, 1956, the 46th Annual General Meeting of Members of the Company will be held on day the 22nd day of September, 2012, at 11.00 a.m. at Hall of Culture, Nehru Centre, Dr. Annie Besant Road, Worli, Mumbai - 400 018. The Annual Report for the year 2011-12 and the Notice convening the Annual General Meeting containing the Ordinary Business has been despatched to the Members of the Company.

Notice is also hereby given that pursuant to Section 154 of the Companies Act, 1956, the Register of Members and the Share Transfer Books of the Company shall remain closed from Saturday, the 15th day of September, 2012 to Saturday, the 22nd day of September, 2012 (both days inclusive) for the purpose of the said Annual General Meeting.

Tuesday, March 20, 2012

Memorandum of Understanding for Acquisition

Memorandum of Understanding for Acquisition

Date: 20 Mar 2012

This is to inform you that Nitco Limited has entered into a Memorandum of Understanding for acquiring 51% of equity shares in New Vardhman Vitrified Private Limited (the ‘Target Company’) having its registered office at Plot No.2/52, Rupal, Industrial Area, Opp. Manahar Dying, Damroli Road, Surat, Gujarat and factory at Village Waghasiya, Taluka Wankaner, Morbi, District – Rajkot, Gujarat. The Target Company is setting up a tile plant with a capacity to manufacture 4.95 million square meter (approx.) per annum of Vitrified Tiles and 3.75 million square meter (approx.) per annum of Wall Tiles and the production is expected to commence within six months.

Thursday, December 8, 2011

Outcome of Board Meeting

Outcome of Board Meeting

Date: 8 Dec 2011

The Board of Directors at their Meeting held on 12th August, 2011 has decided as follows: 1. The Board has allotted 4,76,580 equity shares of Rs. 10/- each to the Members of Particle Boards India Limited (PBIL) (other than Nitco Limited or any of its subsidiary), pursuant to the Scheme of Amalgamation of PBIL with the Company. The abovementioned shares shall rank pari - passu to the existing shares of the Company and 2. Recommended dividend @5% % i.e. Rupee 0.50 per equity share of Rs.10 each, for the FY 2010-11 subject to approval of the Shareholders at the ensuing Annual General Meeti.

Thursday, November 3, 2011

Result of the Postal Ballot

Result of the Postal Ballot

Date: 3 Nov 2011

The Company had sought the approval of the shareholders through Postal Ballot voting process for passing the Special Resolution for alteration of the Object Clause of the Memorandum of Association vide its Notice dated 3rd February, 2011. The Scrutinizer submitted his report on the Postal Ballot and the results were announced to the shareholders on 11th March, 2011 at the Registered Office of the Company. The said results are stated hereinbelow:

Sr. No

Particulars

No. of Postal Ballot Forms

No. of Shares Voted

a.

Postal Ballot Forms received

159

13442098

b.

Less: Invalid Postal Ballot Forms

21

183480

c.

Net Valid Postal Ballot Forms of which:

138

13258618

i)

Postal Ballot Form with assent for the Resolution

127

13244862

% to Assent

92.03

99.90

ii)

Postal Ballot Form with dissent for the Resolution

11

13756

% of Dissent

7.97

0.10

The valid votes cast assenting to the Resolution is 99.90% of the total valid votes and consequently the Special Resolution as mentioned in the Notice of Postal Ballot dated 3rd February, 2011 for Alteration of Object Clause of the Memorandum of Association is passed by a requisite majority.

For Nitco Limited
Sd/-
Place: Mumbai
Date: 11th March, 2011
B. G. Borkar
CFO and Company Secretary

Sunday, August 7, 2011

High Court Order approving Scheme of Amalgama

High Court Order approving Scheme of Amalgama

Date: 7 Aug 2011

The Company hereby informs that at the final hearing held on 8th July, 2011, the Hon’ble High Court of Judicature at Bombay has approved the Scheme of Amalgamation of Particle Boards India Limited with Nitco Limited and their respective shareholders and creditors (‘Scheme’) under sections 391 to 394 of the Companies Act, 1956. The Scheme will be effective from the date on which the certified copy of the High Court Order is filed with the Registrar of Companies, Maharashtra.

Monday, August 1, 2011

Scheme of Amalgamation made effective from 1st August, 2011

Scheme of Amalgamation made effective from 1st August, 2011

Date: 1 Aug 2011

The Company hereby informs that pursuant to the approval of the Scheme by the Hon´ble High Court of Judicature at Bombay (´High Court´) on 8th July, 2011, the Scheme of Amalgamation of Particle Boards India Limited with Nitco Limited and their respective shareholders and creditors has been made effective by filing the certified copy of the Order of High Court with Registrar of Companies, Maharashtra, Mumbai, on 1st August, 2011.

Thursday, June 9, 2011

Notice for Annual General Meeting and Book Closure

Notice for Annual General Meeting and Book Closure

Date: 9 Jun 2011

Notice is hereby given that pursuant to provisions of Section 172(2) read with Section 53(3) of the Companies Act, 1956, the 45th Annual General Meeting of Members of the Company will be held on Wednesday the 28th day of September, 2011, at 11.00 a.m. at Hall of Culture, Nehru Centre, Dr. Annie Besant Road, Worli, Mumbai - 400 018. The Annual Report for the year 2010-11 and the Notice convening the Annual General Meeting containing the Ordinary Business has been despatched to the Members of the Company. Notice is also hereby given that pursuant to Section 154 of the Companies Act, 1956, the Register of Members and the Share Transfer Books of the Company shall remain closed from Thursday, the 22nd day of September, 2011 to Wednesday, the 28th day of September, 2011 (both days inclusive) for the purpose of the said Annual General Meeting.

Friday, September 25, 2009

Notice for Annual General Meeting and Book Closure

Notice for Annual General Meeting and Book Closure

Date: 25 Sep 2009

Notice is hereby given that pursuant to provisions of Section 172 (2) read with Section 53(3) of the Companies Act, 1956, the 43rd Annual General Meeting of Members of the Company will be held on 17th September, 2009, at 10.30 a.m. at M. C. Ghia Hall, 18/20, K. Dubash Marg, Kala Ghoda, Mumbai - 400001. The Annual Report for the year 2008-09 and the Notice convening the Annual General Meeting containing the Ordinary Business have already been despatched to the Members of the Company.

Notice is also hereby given that pursuant to Section 154 of the Companies Act, 1956, the Register of Members and the Share Transfer Books of the Company shall remain closed from Friday, the 11th September, 2009 to Thursday, the 17th September, 2009 (both days inclusive) for the purpose of determining the entitlement of shareholders to the dividend, to be declared at the said Annual General Meeting.

Thursday, September 3, 2009

CESTAT Order – Vitrified Tiles

CESTAT Order – Vitrified Tiles

Date: 3 Sep 2009

Nitco Tiles Limited has been a leading outsourcer of tiles. One of the several suppliers of vitrified tiles is a Chinese Company, imports from whom have been exempted by the Government from attracting anti dumping duty. An appeal was filed by one of the other Indian manufacturers of tiles before CESTAT challenging the notification issued by the Government exempting the import from this particular manufacturer from levy of anti dumping duty. We are not a party to the litigation but understand that CESTAT has passed an Order (copy of which is not available as yet) striking down the notification. While the ramifications of the CESTAT Order would be known only after a copy is received, we have been legally advised that the CESTAT Order would become effective only after it is accepted by the Government. Past imports should not impact and therefore, the Company does not anticipate any liability. Further, given the fact that we import tiles from several manufacturers whom are similarly exempted, the CESTAT Order would not impact our business. The Company will take necessary steps to file appeal against the CESTAT Order and has been advised that it should succeed in its efforts

Friday, July 24, 2009

Nitco´s Board recommends dividend at 10

Nitco´s Board recommends dividend at 10

Date: 24 Jul 2009

The Board of Directors at their Meeting held on 24th June, 2009 has recommended dividend @10% for the FY 2008-09 subject to approval of the Shareholders at the ensuing Annual General Meeting.

Monday, May 4, 2009

Credit Rating

Credit Rating

Date: 4 May 2009

The Company has been rated by Credit Analysis and Research Limited and they have assigned a ‘CARE A’ (Single A) rating to the long term bank facilities and ‘PR1’ (PR One) rating to the short term bank facilities.

Tuesday, January 27, 2009

Change in the Registered Office Address

Change in the Registered Office Address

Date: 27 Jan 2009

The Board at their Meeting held on 27th January, 2009, have decided that the Registered Office of the Company shall be shifted from 86-A Maker Chamber III 8th Floor, Nariman Point, Mumbai - 400021 to Nitco House, Recondo Compound, Inside Municipal Asphalt Compound, S. K. Ahire Marg, Worli, Mumbai – 400030.

Monday, September 29, 2008

Nitco Board recommends dividend at 20% for th

Nitco Board recommends dividend at 20% for th

Date: 29 Sep 2008

The Board of Directors at their Meeting held on 26th July, 2008 has recommended dividend @20% for the FY 2007-08 subject to approval of the Shareholders at the ensuing Annual General Meeting.

Friday, August 29, 2008

Name Change of the Company to NITCO LIMITED

Name Change of the Company to NITCO LIMITED

Date: 29 Aug 2008

The name of our Company has changed from ‘Nitco Tiles Limited’ to ‘Nitco Limited’. The new name is effective from 10th day of July, 2008. The name of the Company has been changed on both the Stock Exchanges. The Symbol of the Company on the NSE and BSE websites remains unchanged. The intimation of the same has also been sent to NSDL and CDSL.

Friday, August 29, 2008

Annual General Meeting and Book Closure

Annual General Meeting and Book Closure

Date: 29 Aug 2008

Notice is hereby given that pursuant to provisions to Section 172 (2) read with Section 53(3) of the Companies Act, 1956, the 42nd Annual General Meeting of Members of the Company will be held on 23rd September, 2008, at 11.30 a.m. at M. C. Ghia Hall, 18/20, K. Dubash Marg, Kala Ghoda, Mumbai - 400001. The Annual Report for the year 2007-08 and the Notice convening the Annual General Meeting containing the Ordinary Business have already been despatched to the Members of the Company.

Notice is also hereby given that pursuant to Section 154 of the Companies Act, 1956, the Register of Members and the Share Transfer Books of the Company shall remain closed from Wednesday, the 17th September, 2008 to Tuesday, the 23rd September, 2008 (both days inclusive) for the purpose of determining the entitlement of shareholders to the dividend, to be declared at the said Annual General Meeting.

Wednesday, October 24, 2007

Annual General Meeting and Book Closure

Annual General Meeting and Book Closure

Date: 24 Oct 2007

The 41st Annual General Meeting of Members of the Company will be held on 11th December, 2007 at 11.30 a.m. at M.C.Ghia Hall, 18/20, K. Dubash Marg, Kala Ghoda, Mumbai 400001. The Annual Report for the year 2006-07 and the Notice convening the Annual General Meeting containing the Ordinary and Special Business together with the Explanatory Statement thereon have already been despatched to the Members of the Company.

The Register of Members and the Share Transfer Books of the Company shall remain closed from Wednesday, 5th December 2007 to Tuesday, 11th December 2007 (both days inclusive) for the purpose of determining the entitlement of shareholders to the dividend, to be declared at the said Annual General Meeting.

Wednesday, October 24, 2007

Nitco Board recommends dividend at 20% for th

Nitco Board recommends dividend at 20% for th

Date: 24 Oct 2007

The Board of Director at their meeting held on October 24, 2007 has recommended dividend @20% for the FY 2006-07 subject to approval of the shareholders at the ensuing general meeting.

Monday, October 8, 2007

Nitco planned a capital expenditure of around

Nitco planned a capital expenditure of around

Date: 8 Oct 2007

The company has planned a capital expenditure of around Rs. 80 crore at its Ceramic Tiles plant at Alibaug, Maharashtra to increase capacity to 24000 sq. mt per day from the existing capacity of 13,500 sq. mt. per day.

Thursday, September 27, 2007

Grant of Licence by DGFT to Import Marble Blo

Grant of Licence by DGFT to Import Marble Blo

Date: 27 Sep 2007

Import of marble blocks is in the negative list of imports and can be imported only against a licence issued by Directorate General of Foreign Trade(DGFT), Ministry of Commerce. As per the Marble Import policy, licenses are being issued only to eligible marble processing units. For the year 2007-08, Nitco has been granted a Licence to import marble blocks of 15895 tons, which is 11% of the total licences issued for the year 2007-08 by DGFT.

Tuesday, September 18, 2007

Extension of time for holding AGM

Extension of time for holding AGM

Date: 18 Sep 2007

The Registrar of Companies, Maharashtra has granted permission extending the period for holding of Annual General Meeting by 90 days vide its letter dated 03/09/2007 under section 166 of the Companies Act, 1956. Accordingly the extension has been granted up to 31/12/2007 for holding of Annual General Meeting, in view of the composite scheme of arrangement.

Tuesday, September 11, 2007

Import and Distribution of Cement

Import and Distribution of Cement

Date: 11 Sep 2007

With imports of cement being allowed by the Government, Nitco is entering into import and distribution of cement as a natural extension of its existing business of tiles which caters to the real estate and infrastructure sector.

Monday, September 10, 2007

High Court Approval for Scheme of Arrangement

High Court Approval for Scheme of Arrangement

Date: 10 Sep 2007

The Hon´ble High Court of Judicature at Bombay has approved the Composite Scheme of Arrangement u/s 391 to 394 read with Sections 100 to 103 of the Companies Act, 1956 filed by the Company, on September 07, 2007. a) Merger of Shark Properties Private Limited (´SPPL´) into Nitco Tiles Limited (´NTL´); b) Merger of Nitco Realties Private Limited (´NRPL´) into Motivation Properties Private Limited (´MPPL´); c) Pursuant to the merger NTL shall issue of 10 (Ten) Equity Shares of Rs. 10/- each fully paid up of NTL in respect of every 27 (Twenty Seven) Equity Shares of Re. 1 each held in SPPL and issue of 10,000 fully paid up Preference Shares of Rs. 10 each of MPPL for 10,000 equity shares of Rs. 10 each held by NTL in NRPL; and d) Subsequent to the merger, change of name of Motivation Properties Private Limited to Nitco Realties Private Limited.

Wednesday, August 8, 2007

Intimation regarding acquisition of Shares of

Intimation regarding acquisition of Shares of

Date: 8 Aug 2007

HSBC Financial Services (ME) Ltd has acquired 65,250 shares being 0.293 % of the total paid up capital of Nitco Tiles Limited on August 6, 2007, through Open Market Purchase and the shareholding of HSBC Financial Services (ME) Ltd after the said acquisition is 11,77,785 shares aggregating to 5.29% of the total paid up capital of Nitco Tiles Limited.

Monday, July 23, 2007

Real Estate Valuation by Knight Frank

Real Estate Valuation by Knight Frank

Date: 23 Jul 2007

Nitco Tiles Ltd. is engaged in the business of Real Estate development through its wholly owned subsidiary Nitco Realties Pvt. Ltd. The company appointed Knight Frank to carry out valuation in respect of some of the properties which are owned by Nitco Tiles / Nitco Realities or its SPV´s. This includes properties which are in the process of being transferred under a court approved scheme of arrangement (final hearing fixed for August 17, 2007). For these initial set of properties Knight Frank has valued the Net Present Value of the land bank of Nitco at Rs.406 crores. These projects will be completed over a period of 3 years. Nitco is vigorously pursuing its objective of creating value in the Real Estate sector. The company is in negotiations for undertaking many more projects. As and when such projects fructify, these will also be valued by a reputed independent valuer and the Stock Exchange would be notified thereafter.

Friday, June 15, 2007

Outcome of Court Convened meeting of the Equity Shareholders

Outcome of Court Convened meeting of the Equity Shareholders

Date: 15 Jun 2007

In accordance with the directions of the Hon´ble High Court of Bombay in Company Application No.514 of 2007, meeting of equity shareholders of the Company to approve the Scheme was convened and held on June 15, 2007. The equity shareholders have approved the Composite Scheme of Arrangement between Nitco Tiles Limited and Nitco Realties Private Limited and Shark Properties Private Limited and Motivation Properties Private Limited and their respective shareholders and creditors (´the Scheme´) with requisite majority.

Tuesday, March 27, 2007

EGM Approval for increase in FII Investment l

EGM Approval for increase in FII Investment l

Date: 27 Mar 2007

At the Extra Ordinary General Meeting of the Company held on 26th March, 2007, the members of the Company have approved resolution to increase the Foreign Institutional Investor´s investment limit up to 49% in the share capital of the Company.
Board Approval for Scheme of Arrangement

Friday, March 2, 2007

Board Approval for increase in FII Investment

Board Approval for increase in FII Investment

Date: 2 Mar 2007

The Board of Directors of the Company at their meeting held on March 02, 2007, approved the proposal to increase the Foreign Institutional Investor´s limit upto 49% in the share capital of the Company, subject to the approval of members at General Meeting.

Friday, March 2, 2007

Reappointment of Ms. Poonam Talwar as Wholeti

Reappointment of Ms. Poonam Talwar as Wholeti

Date: 2 Mar 2007

The Board of Directors at its meeting held on March 02, 2007 have reappointed Ms. Poonam Talwar is reappointed as Wholetime Director for a further period of 5 years with effect from 1st April, 2007, subject to the approval of members at General Meeting

Wednesday, February 21, 2007

Extra Ordinary General Meeting held on 21st F

Extra Ordinary General Meeting held on 21st F

Date: 21 Feb 2007

At the Extra Ordinary General Meeting of Members of the Company held on 21st February, 2007, the following transactions have been considered and approved:

a) Increasing Authorized Capital from Rs. 27.50 crores to Rs. 50 crores and consequent alteration of capital clause in the Memorandum and Articles of Association.

b) Raising of long terms funds up to an amount of Rs. 250/- Crores as may be expedient by way of FCCBs/GDRs/ADRs/Qualified Institutional Placement (QIP) as per the provisions of SEBI (DIP) Guidelines/applicable provisions.

Friday, February 2, 2007

Notice for EGM for Increasing Authorised Capi

Notice for EGM for Increasing Authorised Capi

Date: 2 Feb 2007

An Extra Ordinary General Meeting (EGM) of the members of the Company will be held on February 21, 2007, inter alia, to transact the following:

1. Increase in the Authorised Share Capital of the Company from Rs 27,50,00,000 divided into 2,75,00,000 Equity Shares of Rs 10/- each to Rs 50,00,00,000 divided into 5,00,00,000 equity shares of Rs 10/- each and consequential amendments in the Memorandum & Articles of Association of the Company.

2. To offer, issue and allot in one or more tranches, in the course of domestic / international offerings to Domestic / Foreign Institutions, Qualified Institutional Buyers (QIBs), Corporate Bodies, Mutual Funds, Banks, Insurance Companies, Pension Funds, individuals or otherwise, whether shareholders of the Company or not, through a public issue and/or on a qualified institutional placement basis, debentures or bonds whether Partly / Optionally / Fully Convertible and / or securities linked to Ordinary Shares including but not limited to Global Depositary Receipts (GDRs), American Depository Receipts (ADRs) and / or Foreign Currency Convertible Bonds and / or Qualified Institutional Placement (QIP) and / or bonds with Share Warrants attached (Securities), secured or unsecured such that the total amount raised through the aforesaid Securities should not exceed Rs 250/- Crores (Including green shoe option, if any), or its equivalent, of incremental funds for the Company, subject to necessary provisions & approvals.

Tuesday, January 23, 2007

Real Estate Development by Nitco Realties

Real Estate Development by Nitco Realties

Date: 23 Jan 2007

Nitco Realities Pvt. Ltd. (Nitco Realties) which became 100% Subsidiary of Nitco Tiles Ltd., is expanding its real estate operations through special Purpose Vehicle ("SVP") wherein its interest ranges from 20% to 100%. The share of Nitco Realities in the area under development under various SPVs as on date measures approx 5.4 Lacs sq.ft. Out of this, approx 1.60 lac sq.ft., 3.00 lac sq. ft and 0.80 lac sq.ft. is being developed at worli, Goregaon and Pune respectively. There are also other projects which are in the pipeline.

Monday, November 13, 2006

Contract Manufacturing Arrangements with Fosh

Contract Manufacturing Arrangements with Fosh

Date: 13 Nov 2006

The Company has entered into a second contract manufacturing arrangement (CMA) for a period of 3 years with FOSHAN LUNGO CERAMICS, which is part of New Zhong Yuan (NZY) Group, China. NZY is the world´s largest tile manufacturing group having turnover in the region of US$ 500 million. Under the said contract, the Company has committed to procure 3 million sq. mtrs. of vitrified tiles in the first 12 months, 4.5 million sq. mtrs. in the next 12 months and 6.0 million sq. mtrs. in the remaining 12 months. The procurement prices will remain fixed during the first two years of the contract. This CMA is in addition to the first CMA with Foshan Chancheng Oulian Construction Ceramic Co. China.

Monday, April 3, 2006

Commissioning of Windmills

Commissioning of Windmills

Date: 3 Apr 2006

6 (Six) windmills with total capacity of 7.50 MW have been successfully commissioned on March 23, 2006.

Friday, March 31, 2006

Reappointment of Mr. Vivek Talwar as Managing

Reappointment of Mr. Vivek Talwar as Managing

Date: 31 Mar 2006

The Board of Directors at its meeting held on March 31, 2006 have reappointed Mr. Vivek Talwar as the Managing Director for a further period of 5 years with effect from April 01, 2006 subject to the approval of the Members at its Annual General Meeting.

Thursday, March 23, 2006

Intimation regarding acquisition of Shares of

Intimation regarding acquisition of Shares of

Date: 23 Mar 2006

Reliance Capital Asset Management Limited has informed the Company that Reliance Equity Opportunities Fund & Reliance Monthly Income Plan - Schemes of Reliance Mutual Fund has acquired 15,00,000 shares through open market purchase, aggregating to 6.7351% of the total paid up capital of Nitco Tiles Limited on March 21, 2006 and shareholding after the said acquisition is 18,51,268 shares aggregating to 8.31% of the total paid up capital of Nitco Tiles Limited.

Wednesday, March 22, 2006

Grant of Licence to import Marble Blocks

Grant of Licence to import Marble Blocks

Date: 22 Mar 2006

The guidelines for import of rough marble blocks which were modified by Directorate General of Foreign Trade (DGFT), Ministry of Commerce on August 30, 2005 has now been implemented. The marble licences have now been issued to all the eligible units based on the revised policy. Nitco has been allotted total licence for import of marble blocks of 12816 tons as against 2392 tons eligible under the old policy an increase of 535%. Nitco´s entitlement of 12816 tons forms 9.9% of the total licences issued.