The Foreign Investment Promotion Board (FIPB) has recommended the proposal of Cals Refineries Ltd for Foreign Direct Investment worth Rs 1425 crore for the consideration of the Cabinet Committee on Economic Affairs (CCEA).
Cals Refineries Ltd. (BSE: 526652) ('Cals') and the Hardt Group ('Hardt') today announced a definitive agreement for Cals to acquire the Cenco and Atas refinery assets owned by affiliates of Hardt and currently located in the United States and the Turkish Republic of Northern Cyprus.
Kharafi Group will invest $150 million in a 100,000 barrels per day (bpd) coastal refinery being built by Cals Refineries Ltd , the Indian company said on Friday, the first such investment by a Kuwaiti firm
Please note that the Registrar and Transfer Agents (RTA) of the Company has been changed with effect from 15th July, 2015, the new RTA of the Company is:
MCS Share Transfer Agent Ltd
F-65, 1st Floor, Okhla Industrial Area
Phase- I. New Delhi – 110020
06/06/2011: FIPB recommends Cals Proposal for FDI worth Rs 1425 crore for CCEA Consideration in their meeting held on 20th May 2011
15/03/2011: Signed Agreement with Hardt Group, Austria for Purchase of CENCO and ATAS Refineries and Equity Investment
31/03/2010: Entered into tri-partite agreement with Haldia Development Authority and West Bengal Industrial Development Corporation (WBIDC), wherein WBIDC took over the land allotted to the Company and agreed to sub-lease the land to the company on compliance of certain terms and conditions
17/06/2009: Cals Refineries signs MoU signed with Bharat Petroleum Corporation (BPCL) for off-take of all products other than those required to be supplied to BP.
13/05/2009: Received environmental clea¬rance from the Union Ministry of Environment and Forests for 5.0 MMTPA capacity
In the meeting of the Board and its Audit Committee held on 06th November, 2015, the Company has identified and appointed Mr. Raman Mallick as the Chief Financial Officer (CFO) of the Company to take the position with immediate effect.
Ms. Rekha Srada, the Chief Financial Officer of the Company has resigned from the office w.e.f 29th July, 2015. The Company is in the process to identify suitable candidate as the Chief Financial Officer of the Company
The Company has received a letter from the Luxembourg Stock Exchange intimating it about the delisting of the GDRs from the official list of the Luxembourg Stock Exchange and also to withdraw the trading on the Euro MTF Market of the LSE w.e.f 14th July, 2014
BNY Mellon, the Depository of GDRs of the Company, has issued a notice dated 08th April, 2014 for the termination of Deposit Agreement with the Company and instructed the holders of the DRs to convert their holdings into Equity shares on or before July 08, 2014. Please click here to see the notice.
The Securities and Exchange Board of India has issued an Order against the Company in the matter of 'Market Manipulation using GDR Issues.' The Order dated 23rd October, 2013 mainly states that:
1. Cals shall not issue equity shares or any other instrument convertible into equity shares or any other security, for a period of ten years.
2. Vide the Interim Order dated September 21, 2011 (later confirmed through the Confirmatory Order on December 30, 2011), Cals was directed not to issue equity shares or any other instrument convertible into equity shares or alter their capital structure in any manner till further directions. In this context, Cals has already undergone the prohibition imposed vide the Interim Order for a period of approximately two years. In view of this factual situation, it is clarified that the prohibition already undergone by Cals pursuant to the aforementioned SEBI Order shall be reduced while computing the period in respect of the prohibition imposed vide this order.Please click here to see the order.