Investors News

(05/05/2010)

The Board has approved the resignation of Mr. Dilip Surana, Independent Director from the Directorship of the Company with effect from 05.05.2010.  

(26/03/2010)

Outcome of 17^th Annual General Meeting of the Company. Clause 31 (d) of the Listing Agreement. The Shareholders of the Company present at the 17^th Annual General Meeting have approved and adopted the following:

      1.  Adopted the Annual accounts, Directors report together with Auditors report as at 30.09.2009.

      2.      Approved the final dividend of 10% on the paid up equity capital of the Company, Rs.7.48 crores (74,80,000 equity shares of Rs.10/- each) absorbing an   amount of Rs.74,80,000/- for the financial year 2008-09.

3.      Approved the reappointment of following Directors who retires by rotation:  

(a). Mr. Harisharanlal Trivedi

(b). Mr. A. Damodaran

(c ) Mr. Dilip Surana

4. Approved the reappointment of retiring Statutory Auditors, M/s. B.P Jain & Co., Chartered Accountants, Chennai from the conclusion of this Annual General Meeting until the conclusion of next Annual General Meeting.

5.      Approved the appointment of Mr. Bharat Jain, Non executive Director as Whole time Director of the Company for a period of 5 (five) years at a remuneration of Rs.1,00,000 per month.

(16/03/2010)

The Board has approved the conversion of 430000 convertible warrants in to 430000 fully paid up equity shares [out of total 15,50,000 convertible warrants of total exercise price of Rs.89/-( including premium of Rs.79/-) originally allotted on 05.08.2009 on preferential basis] . These shares allotted to Persons forming part of Promoter Group, Mr. Kamal Lunawath, Managing Director  and Mr. Vimal Lunawath, Whole time Director upon exercise of option of conversion     of warrants into equity in compliance with SEBI(DIP) Guidelines. The issued, Subscribed and paid up capital of the Company enhanced from 70,50,000 equity shares of Rs.10/- each to 74,80,000 equity shares of Rs.10/- each.

(03/03/2010)

Pursuant to clause 16 of the listing agreement with Stock Exchange, the register of member and Share transfer book of the Company will be closed from 19.03.2010 to 26.03.2010 (both the days inclusive) for the purpose of final dividend of 10% recommended by the Board at their meeting held on 28.12.2009 and 17^th Annual General Meeting of the Company scheduled to be held on 26^th day of March, 2010.

(21/10/2009)

Mrs. Priti Venkatesan, Company Secretary and Compliance Officer of the Company resigned from the Company Secretary-ship and Mr. Kishore Kumar Sahoo, who is a member of Institute of Company Secretaries of India appointed as Company Secretary and Compliance Officer of the Company with effect from 21^st October, 2009 with the approval of the Board.

(05/08/2009)

The Board has approved the allotment of  15,50,000 convertible warrants on preferential basis to persons forming part of Promoter Group and Body Corporate after obtaining in – principle approval from NSE and BSE on 8^th July, 2009 and 28^th July, 2009 respectively and with the receipt of  25% of total exercise price of Rs.89/- (including premium of Rs.79/-). 

(22/06/2009)

The Shareholders of the Company present at the Extra Ordinary General Meeting, approved the issue of 15,50,000 convertible warrants at Rs. 89/- (including premium of Rs.79/-) on preferential basis to persons forming part of Promoter Group and Body Corporate.

(25/05/2009)

The Board has approved the forfeiture of outstanding 950000 convertible warrants, originally allotted on 27^th November, 2007 due to non exercise of option of conversion in to equity by the warrantholder within the stipulated period.

The Board has also considered a proposal to issue 15,50,000 fresh convertible warrants of Rs.89/- (including premium of Rs.79/-) to persons forming part of Promoter group and Body Corporate. Kamal Lunawath, Managing Director,  430,000 convertible equity warrants, Vimal Lunawath, Whole time Director, 430,000 convertible equity warrants and Taj Foundations Pvt Ltd, 690,000 convertible equity warrants. To call an extra Ordinary general meeting for this purpose on 22.06.2009.

(14/02/2009)

Pursuant to clause 16 of the listing agreement with Stock Exchange, the register of member and Share transfer book of the Company will be closed from 13.03.2009 to 20.03.2009 (both the days inclusive) for the purpose of final dividend of 10% recommended by the Board at their meeting held on 26.12.2008 and 16^th Annual General Meeting of the Company scheduled to be held on 20^th day of March, 2009.

(28/03/2008)
15^th Annual General Meeting of the Company held today and the Shareholders of the Company present at the Meeting have approved and adopted the following:

       1. Adopted the Balance sheet as at 30.09.2007 and profit and Loss account for the year ended 30.09.2007.
       2. Approved the final dividend of 40% on the paid up capital of the Company (Rs.7 crores) absorbing an amount of Rs.2.8 crores for the financial year 2006-07
       3. Approved the reappointment of following Directors who retires by rotation:   

                 (a). Mr. Harisharanlal Trivedi

           (b). Mr. Ravikant Choudhary

           (c). Mr. Dilip Surana

                 (d) Mr. Bharat Jain

       4. Approved the voluntary delisting of its securities from Madras Stock Exchange Limited.

       5. Approved the increase in the commission of Managing Director from 1% of net profit to 3% of net profit

       6. Approved the Payment of Commission to Mr. Vimal Lunawath, Whole time Director, 3% of net profit.

(28/04/2008)
The Audit Committee and the Board have approved the un audited financial results provisional for the quarter ended 31.03.2008. The unaudited financial results for the quarter ended 31.03.2008 is posted on the financial results Section.

(18/02/2008)
We would like to intimate that a meeting of the Board of Directors will be held on Tues day the 26^th day of February, 2008 to consider among other business the following:

1. To fix the Record date, for final Dividend for the financial year 2006-07.
2. To voluntarily delist the securities of the Company from Madras Stock Exchange Limited, subject to the approval of the Shareholders at the ensuing Annual General Meeting of the Company.

(26/02/2008)
Sub: Outcome of Board Meeting

The Board of Directors at their meeting held today has considered among other business the following:

1. The Record date for final dividend (40%), being recommended by the Board at their meeting held on 26.12.2007, for the financial year end 30.09.2007 is 20.03.2008.

2. The 15^th Annual General Meeting of the Company will be held on 28.03.2008.

3. Recommended to delist its securities voluntarily from Madras Stock Exchange Limited, if approved by the Shareholders at the ensuing Annual General Meeting.

(29/02/2008)
Sub: Intimation of Book closure

This has further to our intimation dated 26.02.2008, we would like to inform you that the record date 20.03.2008 is hereby withdrawn and the book closure is

(21/03/2008) to (28/03/2008) (both the days inclusive) for the following purpose

1. Final dividend (40%) for the financial year end 30.09.2007.

2. To hold 15^th Annual General Meeting of the Company on 28.03.2008.

(21/03/2008)
Arihant Foundations & Housing Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 21, 2008, inter alia, has considered and approved the following:
1. Conversion of 50000 convertible warrants into 50000 fully paid up equity shares of face value of Rs 10/- each at an exercise price of Rs 460 (including premium of Rs 450/-).

The above mentioned warrants were allotted on preferential basis on November 27, 2007.

2. Allotment of 50000 fully paid up equity shares to:

- Kamal Lunawath (Promoter) : 25,000 No. of equity shares

- Vimal Lunawath (Promoter) : 25,000 No. of equity shares.

(28/03/2008)
Arihant Foundations & Housing Ltd has informed BSE that the shareholders at the 15th Annual General Meeting (AGM) of the Company held on March 28, 2008, inter alia, have approved and adopted the following:
1. Adopted the Balance sheet as at September 30, 2007 and profit and Loss account for the year ended September 30, 2007.
2. Approved the final dividend of 40% on the paid up capital of the Company (Rs 7 crores) absorbing an amount of Rs 2.8 crores for the financial year 2006-07.
3. Approved the reappointment of following Directors who retires by rotation:
(a) Mr. Harisharanlal Trivedi
(b) Mr. Ravikant Choudhary
(c) Mr. Dilip Surana
(d) Mr. Bharat Jain
4. Approved the voluntary delisting of its securities from Madras Stock Exchange Ltd.
5. Approved the increase in the commission of Managing Director from 1% of net profit to 3% of net profit.
6. Approved the Payment of Commission to Mr. Vimal Lunawath, Whole time Director, 3% of net profit.

(09/04/2008)
Disclosure under Regulation 7(1A) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997:

*VR - Voting Rights

Disclosure under Regulation 7(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997:

Disclosure under Regulation 13 (6) of SEBI (Prohibition of Insider Trading) Regulations, 1992:

(23/03/2007)
Sub: Outcome of 14^th Annual General Meeting of the Company.We write to intimate you that the 14^th Annual General Meeting of the Company was held today and the Shareholders of the Company present at the Meeting have given their approval and consent to the following business.

1. Balance Sheet as at 30^th September, 2006 and Profit and Loss account for the period from 01.10.2005 to 30.09.2006 together with Director’s Report and Auditor’s Report adopted.

2. Declared dividend of 20%.

3. Mr. Alex Jacob, Director, who retires by rotation, reappointed as Director.

4. Mr. A.Damodaran, Director, who retires by rotation, reappointed as Director.

5. Reappointment of M/s. B.P Jain & Co., as Statutory Auditors from the conclusion of this Annual General Meeting until the conclusion of next Annual General Meeting.

6. The borrowing power of Board of Directors to an extent of Rs.300 crores.

1. Appointment of Sri. Jagdish R Bhatt as whole time Director for a further period of 5 years on a remuneration of Rs.75,000/- per month.
2. Revision in the remuneration of Chairman and Managing Director Mr. Kamal Lunawath from Rs.40000/- to Rs.75000/- per month.
   
3. Revision in the remuneration of Whole time Director Mr. Vimal Lunawath from Rs.40000/- to Rs.75000/- per month.
4. Sitting fees of the Non executive and Independent Directors of the Company.
5. Amendment in the Articles of Association of the Company.
6. Increase in the Authorised Share capital of the Company from Rs.7 crores to Rs.10 crores.
7. Alteration of Article. 4(a) of the Articles of Association with regard to Share Capital.

(09/05/2007)
The Board of Directors at the meeting held today has authorized the entry in to a Joint venture (50:50 equity participation) with J P Morgan India Property Fund Mauritius Company II through a SPV Company, Escapade Real Estate Private Limited, Chennai to undertake the development of a Township project of 45 acres in Chennai. The estimated value of the project is approximately of Rs.400 acres.

(10/07/2007)
We would like to intimate you that, our Company has entered in to a development agreement dated 09.07.2007 with Vijayawada Guntur Tenali Mangalagiri Urban Development Authority “VGTM UDA” in the state of Andhra Pradesh through a SPV Company named Arihant Indo African Infra Developers & Builders Private Limited, Hyderabad to undertake the development of a Township project of 53 acres at Vijayawada in the state of A.P. The development will include approximately 4.6 million Sqft. of residential and commercial complex at a cost of Rs.650 crores. The equity participation of the Company in the SPV is 45%.

(02/08/2007)
Sub: Disclosures under Regulation 13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992.

In compliance of Regulation 13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992, we are furnishing herewith the required disclosure being intimated to the Company by the Directors under Regulation 13(4) of the SEBI (Prohibition of Insider Trading) Regulations, 1992.

(01/10/2007)
The Board of Directors at its meeting held today has decided the following:

1. Decided to issue not more than 10,00,000 convertible warrants of the Company convertible in to not more than 10,00,000 equity shares of Rs 10/- each of the Company on a preferential basis at an exercise price of Rs 460/- which is not lower than the minimum price specified as per clause 13.1.1.1 of SEBI (Disclosure and Investor Protection) Guidelines, 2000 to Promoters group, Body corporate (s) & Individuals.

2. Decided to convene the Extra Ordinary General Meeting (EGM) of the Shareholders of the Company on October 23, 2007 to secure the approval of the shareholders for the above matters.

(11/10/2007)
An Extra Ordinary General Meeting (EGM) of the members of the Company will be held on October 23, 2007, inter alia, to transact the following:
1. To offer, issue and allott on a preferential basis up to:10,00,000 Convertible Warrants ("Warrants") to the following:
    i. 2,00,000 warrants to Kamal Lunawath
    ii. 2,00,000 warrants to Vimal Lunawath
    iii. 3,00,000 warrants to Orange Infrastructure Pvt Ltd
    iv. 2,00,000 warrants to Samta Jain
    v. 1,00,000 warrants to Pioneer Investcorp Ltd
each Warrant convertible at the sole option of the holder at any time before the expiry of 18 months from the date of allotment into 1 fully paid up equity share of the Company of face value Rs 10/- each, at an Exercise price of Rs 460/- (Rupees four hundred and sixty only) per share (including a premium of Rs 450/- (Rupees four hundred and fifty only) which is not lower than the minimum price specified as per Clause 13.1.1.1 of Chapter XIII of SEBI Guidelines, as amended from time to time, subject to necessary provisions & approvals.

2. To keep all the statutory registers, records, certificates, books of accounts and other documents, which required to be kept at the registered office of the Company at Kilpauk, Chennai, henceforth will be kept at the Corporate office of the Company at Teynampet, Chennai.

(23/10/2007)
Outcome of EGM:
The shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on October 23, 2007, inter alia, have accorded to the following:
1. Authority to Board for offering, issuing and allotting on a preferential basis up to:10,00,000 Convertible Warrants ("Warrants") to the following:

    i. 2,00,000 warrants to Kamal Lunawath
    ii. 2,00,000 warrants to Vimal Lunawath
    iii. 3,00,000 warrants to Orange Infrastructure Pvt Ltd
    iv. 2,00,000 warrants to Samta Jain
    v. 1,00,000 warrants to Pioneer Investcorp Ltd
each Warrant convertible at the sole option of the holder at any time before the expiry of 18 months from the date of allotment into 1 fully paid up equity share of the Company of face value Rs 10/- each, at an Exercise price of Rs 460/- (Rupees four hundred and sixty only) per share (including a premium of Rs 450/- (Rupees four hundred and fifty only) which is not lower than the minimum price specified as per Clause 13.1.1.1 of Chapter XIII of SEBI Guidelines, as amended from time to time, subject to necessary provisions & approvals.

2. To keep all the statutory registers, records, certificates, books of accounts and other documents, which required to be kept at the registered office of the Company at Kilpauk, Chennai, henceforth will be kept at the Corporate office of the Company at Teynampet, Chennai.

(27/11/2007)
Arihant Foundations & Housing Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 27, 2007, has approved the allotment of 10,00,000 convertible warrants to Promoters, Body Corporate and others on preferential basis at an exercise price of Rs 460/- (including premium of Rs 450/-).

(26/12/2007)
The Board of Directors of the Company at its meeting held on December 26, 2007, inter alia, has recommended final Dividend of 40% (Last year dividend declared - 20%).

 
(3/27/2006) Arihant Foundations - Outcome of AGM
Arihant Foundations & Housing Ltd has informed BSE that the members at the 13th Annual General Meeting (AGM) of the company held on March 24, 2006, inter alia, have approved the following business:
1. Adoption of the audited balance sheet as at September 30, 2005, profit and loss account for the period from October 01, 2004 to September 30, 2005 together with Directors & Auditors reports.
2. Declared dividend at 15% for the financial year ended September 30, 2005.
3. Re-appointment of Mr Alex Jacob and Mr A Damodaran as Directors of the company.
4. Appointment of M/s B P Jain & Co., Statutory auditors of the company, as auditors of the company from the conclusion of this annual general meeting until the conclusion of next annual general meeting of the company.
5. Appointment of Mr Kamal Lunawath, Mr Vimal Lunawath, Mr Dilip Surana, Ravikant M Choudhary and Mr Bharat M Jain, as Directors of the company.
6. Mr Kamal Lunawath appointed as Managing Director of the company.
7. Mr Vimal Lunawath appointed as Whole Time Director of the company.
8. Pursuant to Section 293(1)(d) of the companies act, 1956, borrowing power of the board of directors to a limit of Rs 2000 million at any onetime.

(2/21/2006) Arihant Foundations fixes Book Closure
Arihant Foundations & Housing Ltd has informed BSE that the register of Members & Share Transfer Books of the company will remain closed from March 18, 2006 to March 24, 2006 (both days inclusive) for the purpose of payment of cividend for the financial year 2004-05 (i.e. for the year ended September 30, 2005).

(2/20/2006) Arihant Foundations Board recommends dividend
Arihant Foundations & Housing Ltd has informed BSE that the board of directors of the company at its meeting held on February 18, 2006, inter alia, has recommended dividend @ 15% on the paid up equity capital of the company.

(2/10/2006) Arihant Foundations Board to recommend dividend
Arihant Foundations & Housing Ltd has informed BSE that a meeting of the board of directors of the company will be held on February 18, 2006, inter alia, to consider recommendation of dividend for the year 2004-05.

(12/30/2005) Arihant Foundations - Outcome of Board Meeting
Arihant Foundations & Housing Ltd has informed BSE that the board of directors of the company at its meeting held on December 30, 2005, has co-opted Mr. Bharat M Jain, Mr. Ravikant M Choudhary and Mr. G Dilip Suarana as independent Directors. They are appointed as additional directors and shall hold office till the ensuing AGM of the company.

(12/23/2005) Arihant Foundations - Board Meeting on Dec 30, 2005
Arihant Foundations & Housing Ltd has informed BSE that a meeting of the board of directors of the company will be held on December 30, 2005, inter alia, to consider the following business:
1. Co-option of directors on board in order to comply with revised clause 49 of the listing agreement.
2. Reconstitution of committees.

(11/4/2005) Arihant Foundations - Change in Directorate
Arihant Foundations & Housing Ltd has informed BSE that the board of directors of the company at its meeting held on November 04, 2005, inter alia, has taken following decisions:
1. Appointment of Mr. Kamal Lunawath as additional Director and also as Managing Director of the Company.
2. Appointment of Mr. Vimal Lunawath as additional Director of the company to hold office till the ensuing AGM of the company.

(11/2/2005) Arihant Foundations - Demise of CMD
Arihant Foundations & Housing Ltd has informed BSE about the change in the composition of the board of directors of the company, due to sudden demise of Mr. Navratan Lunawath, Chairman & Managing Director (CMD) of the company on November 02, 2005.

(9/28/2005) Arihant Foundations - Allotment of equity shares & warrants
Arihant Foundations & Housing Ltd has informed BSE that the board of directors of the company at its meeting held on September 28, 2005 has allotted 10,00,000 equity shares and 10,00,000 convertible warrants.

Stock Information

Arihant in National Stock Exchange
Stock Symbol: ARIHANT
Stock Status in National Stock Exchange
Yahoo Finance
NSE India
Arihant in Bombay Stock Exchange
Stock Symbol: ARIHFOU
Stock Status in Bombacy Stock Exchange
Yahoo Finance
BSE India

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Financial Results

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Unaudited financial results
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Audited financial results
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