Bharat Earth Movers gets approval for name change

MUMBAI: Leading manufacturer of earthmoving equipment Bharat Earth Movers Ltd on Wednesday said it has received shareholders approval for changing its name to BEML Ltd.

A decision in this regard was taken at the Annual General Meeting (AGM) which also declared a dividend of 120 per cent for the shareholders, with first and second interim dividend of 40 per cent and 80 per cent respectively for 2006-07 period.

Besides, the Bangalore-based public sector undertaking re-appointed V R S Natarajan as chairman and managing director while Haleem Khan, A Prasad, Prakash C Apte, Birendra Kumar and K V K Seshavataramas were re-appointed as directors, the company said in a filing to the Bombay Stock Exchange.

Shareholders also approved the appointment of Kiran Chadha as the director and following persons as directors of different departments -- B L Bajaj (Finance), V Mohan (Defence Business) and M Poongavanam (Mining and Construction).

The firm's shares closed at Rs 1113, up 0.35 per cent at the BSE.