Citurgia Biochemicals to discuss BIFR sanctioned rehabilitation scheme

Citurgia Biochemicals Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 10, 2007, inter alia, to transact the following business in furtherance to and as follow-up action on the directions given by Hon'ble BIFR vide its Order dated January 12, 2007 read with Sanctioned Rehabilitation Scheme:

1. To note that the existing Paid-up Equity Share Capital shall stand reduced by 95%.

2. To consider and fix up Record Date for the purpose of Allotment of 1 Equity Share of Rs 10/- each to be credited as fully paid-up in lieu of 20 Equity Shares of Rs 10 each to the Shareholders of the Company whose name appear in the Registrar of Members as at the close of business hours of the Record Date.

3. To note the as per the Directions of Hon'ble BIFR the Co-Promoter M/s. Elite Capital and Management Services Pvt Ltd., have already brought in Rs 625 Lacs for Financing the Revival Scheme by way of Share Application Money and 62,50,000 Equity Shares of Rs 10/- each will be issued and allotted to them.

4. To reconstitute the Board of Directors of the Company.

5. To consider shifting of the Registered Office of the Company within the city limits of Mumbai.

Source : Equity Bulls

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