MUMBAI: The Bombay Stock Exchange (BSE) governing board, at its meeting on May 5, has declared Vinitkumar P Parikh as defaulter under the rules, bylaws and regulations of the exchange with immediate effect. According to the exchange, the member had failed to meet his obligations and discharge his liabilities to the clearing house, other members of the bourse and his clients. Parikh's rights were under suspension for over a period of three years for his failure to implement arbitration awards in favour of his clients and failure to redress complaints.

UTI, LIC dematerialise shares

MUMBAI: Unit Trust of India and Life Insurance Corporation of India have dematerialised its equity holdings of Synthetics & Chemicals, listed on the BSE. UTI has dematerialised 4,15,500 shares, while the figure for LIC is 6,18,697.

* The governing board has also decided to square up bad deliveries in the shares of Sangam Exports Company and Aravali Dairy & Food Products at Rs 29.89 and Rs 1.67 respectively. p Martin Burn (MBL) has considered the following schemes of amalgamation : One equity share of MBL for every six shares of Martin Burn Finance. Two equity shares of MBL for every one equity share of Anup Properties

* One equity share of MBL for every five equity shares of Fatehpurial Sons. One equity share of MBL for every three equity shares of Fatehpuria Estate. * Trading in Indraprastha Medical Corporation's new equity shares will be allowed on the Bombay Stock Exchange (BSE) in the list of non specified securities from Friday.

* Dealings in Jindal Strips' debentures (12.5 per cent redeemable non-convertible debentures) can be resumed from Friday. * New equity shares of Windsor Capital Market have been allowed to be traded in the list of non-specified securities. * Bonus shares issued against consolidation of fractional certificates held by share-holders of Asea Brown Boveri will be listed on the exchange with immediate effect. * The following equity shares will not be dealt on the BSE due to non-compliance with the listing agreement from May 12: Marigold Securities, Nova Electro Magnetics, PA Sea Food Exports, Uniport Computers and Lakshmi Mills Company. * Escorts' equity shares at Rs 10 (issued at a premium of Rs 40 per share), allotted against the warrants attached with 15 per cent non-convertible debentures (NCDs) of Rs 120 will be traded on the BSE from May 7. The NCDs were issued by the erstwhile Escorts Tractors.

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