Submission Of Audited Financial Results On Standalone And Consolidated Basis Of The Company For The Quarter And Year Ended 31St March, 2017.
30-05-2017
Updates
Copy of the advertisement published in English and regional newspaper (Bengali) on 27th May, 2017 pursuant to the provisions of Section 124(6) of the Companies Act, 2013 read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.27-05-2017
Board Meeting To Be Held On 30Th May, 2017
Copy of the advertisement published in English and regional newspaper (Bengali) on 21st May, 2017 relating to Board Meeting.22-05-2017
Closure of Trading Window
In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window of the Company will be closed for Designated Person' under the Company's Code of Conduct for Prohibition of Insider Trading from 21st May, 2017 to 1st June, 2017 (both days inclusive).20-05-2017
Board Meeting On Tuesday, 30/05/2017
A meeting of the Board of Directors of the Company will be held on Tuesday, the 30th May, 2017 which will inter alia consider approval of annual audited financial results of the Company for the financial year ended 31st March, 2017.20-05-2017
Prashant Jhawar: Caught in Usha Martin's power struggle
Prashant got ousted as non-executive chairman of Usha Martin by the board earlier this week27-04-2017
Will bring down debt; work towards best interest of firm: Usha Martin MD
Rajeev Jhawar abstained from voting on resolution for Prashant's removal during board meeting27-04-2017
Here's what led to a standoff at Usha Martin's board
The proposed sale of the wire ropes division of Usha Martin that partly caused non-executive chairman Prashant Jhawar his job was, ironically, mooted by him in 2016.Jhawar, however, had valued the division at Rs 1,350 crore, lower than the Rs 2,000-2,500 crore discussed by investment banks. On Tuesday, when the board of directors at Usha Martin voted in favour of ousting Jhawar as non-executive chairman, on the basis of a written requisition from the nominee director of the State Bank of India (SBI), it was primarily on two grounds. One of these was the difference on the sale of the wire ropes division.Interestingly, however, the other promoter group, the Brij-Rajeev Jhawar faction, were on the same page as the lenders as far as sale of the wire ropes division was concerned. The other part that led to the extreme step by the lender was the pledge of shares by SBI. It had extended a term loan of Rs 290 crore and a corporate loan of Rs 900 crore to Usha Martin in 2015, on the basis...26-04-2017
Outcome of Board Meeting
Pursuant to the requirements of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you as under: The Board of Directors (Board') of the Company, in their meeting held on 25 April, 2017, have appointed Mr. G N Bajpai as the Non Executive Chairman of the Company and of the Board of the Company, in place of Mr. Prashant Jhawar, with immediate effect. In view of this, Mr. Prashant Jhawar has...25-04-2017
Shareholding for the Period Ended March 31, 2017
Usha Martin Ltd has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2017. For more details, kindly Click here18-04-2017