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10 March, 2010
Company bags three orders worth Rs. 54.46 Crores in Oil & Gas Sector.
GEI has bagged three orders amounting to Rs 54.46 crores for supply of Air Cooled Heat Exchangers for upstream and downstream projects in the Oil and Gas Sector for IOC, MRPL and ONGC.
The order for the supply of Air Cooled Heat Exchangers for the Fluid Catalytic Cracker Unit of the Refinery Complex of Paradip Refinery Project has been awarded by the owner Indian Oil Corporation Ltd. Toyo Engineering India Ltd is the EPC contractor for this project. Toyo has also awarded Air Cooled Heat Exchangers for the Crude Distillation Unit/Vacuum Distillation Unit and Balance of Plant of Delayed Coker Unit of Mangalore Refinery Petrochemicals Ltd.
The ONGC order has been awarded by Larsen & Toubro for supply of Process Gas and Lube Oil Coolers for the MHN offshore platform of ONGC Ltd. |
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23 February, 2010
GEI Industrial System Ltd bags orders worth Rs 140 Crores for Energy Sector
Company has bagged two orders amounting to Rs 140 crores for Air Cooled Vacuum Steam Condenser from Shree Power Ltd (a subsidiary of Shree Cements Ltd) and Jaypee Group. The orders are for 150 MW and 60 MW Power Project, coming up in Rajasthan, Uttar Pradesh and Madhya Pradesh. |
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28 January, 2010
Company declared the Unaudited Financial Results for the Quarter and Nine - Months ended December 31, 2009. |
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30 October, 2009
Appointment of Directors
The Board of Directors of the Company has appointed Mr. Sanjiv Singhal (Nominee of Banyantree Growth Capital LLC {BTGC}) as Additional Director of the Company. This Appointment is pursuant to the Shareholders Agreement with BTGC.
Company declared the Unaudited Financial Results for the Quarter and Half-Year ended September 30, 2009. |
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26 October, 2009
The Board of Directors of GEI Power Ltd (Wholly Owned Subsidiary of our Company) has allotted 1000 Compulsorily Convertible Debentures of Rs. 1,00,000/- (Rupees One Lac Only) each at par aggregating to Rs. 10 Crores, to Banyantree Growth Capital L.L.C., Mauritius. |
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30 September, 2009
16th Annual General Meeting (AGM) of the Company held on September 30, 2009, inter alia, have accorded to the following:
1. Adoption of Annual Account-2008-09.
2. Declaration of Dividend of Rs. 1.00 per share (i.e. 10%) on paid up Equity Share Capital.
3. Reappointment of Mr. Vijay Khanna as a Director of the Company.
4. Reappointment of Mrs. Everlyn Fernandes as a Director of the Company.
5. Appointment of M/s A.K. Khabya & Co. as Auditors of the Company.
6. Appointment of Mr. K Nandakumar who is liable for rotation.
6. Increase in the rate of dividend on 30,00,000 Cumulative Redeemable Preference Shares of Rs. 10/- each from 5% p.a. to 9% p.a.
7. Increase of borrowing power of Board of Directors of the Company upto Rs. 500 crores.
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04 September, 2009
The Board of Directors of the Company at its meeting held on September 03, 2009, inter-alia, has approved the allotment of 9,00,000 Equity Shares to the Promoters
on conversion of outstanding Warrants. |
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22 August, 2009
The Company has on August 21, 2009, acquired 1843850 equity shares of GEI Power Ltd aggregating to 82.17% of its paid up share capital, at a price of Rs 70.50/-
per share. Pursuant to aforesaid acquisition, GEI Power Ltd has become a wholly owned subsidiary of the Company. |
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20 August, 2009
The Investment Committee of Board of Directors of the Company at its meeting held on August 20, 2009, inter alia, have taken the following decision :
Allotment of 1450000 Equity Shares of Rs 10/- each at Rs 75/- per share (including premium of Rs 65/- per share) to BanyanTree Growth Capital L.L.C., Mauritius on
preferential allotment basis as per resolution passed by the members in the Extra Ordinary General Meeting held on |
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July 15, 2009
Outcome of EGM
The Members and Shareholders of the Company at its Extra-ordinary General Meeting held on July 14, 2009, have unanimously approved the Special Resolution for issue of up to 14,50,000 Equity Shares of Rs. 10 each at a price of Rs. 75 per Equity Share on preferential allotment basis, to BanyanTree Growth Capital, L.L.C., on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company including duly authorised Committee thereof.
The Board of Directors of the Company at its meeting held on July 14, 2009, inter-alia, has taken the following decisions:
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The Board of Directors of the Company has given an in-principle approval for acquisition of the balance equity shares of GEI Power Ltd constituting 82.17% of its paid up share capital, at a valuation to be determined by Independent Valuers, so as to make GEI Power Ltd a wholly owned subsidiary of the Company. |
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Pursuant to the above approval the Board has delegated the powers to the Investment Committee to appoint Independent Valuers, finalize the terms and conditions of the Acquisition, appointment of legal counsel, advisors, negotiation and execution of definitive agreements, ensure compliances under the Listing Agreements, SEBI Act and Regulations and other regulatory compliances as may be required in this regard. |
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July 14, 2009
Company declared the Unaudited Financial Results for the Quarter ended June 30, 2009. |
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June 30, 2009
The Board of Directors of the Company at its meeting held on June 30, 2009, inter alia, has recommended dividend of Rs 1.00/- (Rupee One Only) per Equity Share
(i.e. 10% on Paid up Equity Share Capital) for the Financial Year ended on March 31, 2009, subject to the approval of members at ensuing Annual General Meeting.
Company declared the Audited Financial Results for the Quarter & Year ended March 31, 2009. |
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June 12, 2009
The Board of Directors of the Company at its meeting held on June 12, 2009, inter alia, has approved the following :
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Issue of 14.50 lac Equity Shares of Rs 10/- each at a price of Rs 75/- per Equity share to Banyantree Growth Capital, L.L.C. on Preferential Allotment basis in accordance with SEBI (Disclosure and Investor Protection) Guidelines 2000 and any other applicable law in force, subject to execution of definitive agreements, necessary approvals from the shareholders and such other approvals as may be required. |
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Exploring further investment in Companies engaged in allied business. |
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Constitution of the Investment Committee consisting of Mr. S C Duggal, Dr. Sudarshan Synghal and Mr. D Laxminarayan, Directors of the Company and delegated all the power to the said committee including finalising the Notice of Extra-ordinary General Meeting, terms and conditions of the issue, to consider further investment by the Company, appointment of legal counsel, advisors, negotiation and execution of definitive agreements, ensure compliances under the Listing Agreements, SEBI Act and Regulations, RBI/FEMA Act and Regulations and other regulatory compliances as may be required in this regard. |
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