ANAGRAM FINANCE DECIDES TO PREPAY OUTSTANDING FDs
Article Abstract:
Anagram Finance Limited (AFL) has issued a notice to all its fixed deposit (FD) holders informing them that it would pre-pay their principal amount and the interest on it up to October 15, 1998. This decision follows its proposed merger with the Industrial Credit and Investment Corporation of India (ICICI). The merger has been approved by the shareholders of both the companies. The Mumbai High Court has to give the final approval. AFL has 2.5 lakh shareholders. It has fixed deposits of about Rs250 crore. The Lalbhais, the largest shareholders in AFL, have offered a buy-back option to the shareholders at Rs18 per share against a conversion ratio of one ICICI share for every 15 shares of AFL. (gs)
Comment:
Issues notice to all fixed deposit holders informing them that it would pre-pay principal amount & interest on it up to 10/15/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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COIMBATORE LAKSHMI INVESTMENT & FINANCE CO
Article Abstract:
The fixed deposit (FD) programme of Coimbatore Lakshmi Investment and Finance Company Limited (CLIFL) has been placed on rating watch with negative implications by Investment Information and Credit Rating Agency. CLIFL's liquidity position has been affected by low collections. The company's ability to raise funds has been affected by the recent regulatory changes. (ag)
Comment:
Fixed deposit program of co is placed on rating watch w/ negative implications by Investment Information & Credit Rating Agency
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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