Hira Automobiles board sets deadline for paying allotment money

Hira Automobiles Ltd has announced that the Board of Directors of the Company at its meeting held on August 10, 2006, has decided to issue final notice for payment of allotment money. The company came out with a Public Issue of 32,50,000 Equity Shares of Rs 10/- each for cash at par aggregating to Rs 3,25,00,000/- in the Year 1996. As per the terms of payment the share money was to be paid as under:

Application money = Rs 2.50 per share.

Allotment money = Rs 7.50 per share.

As per record of the company, allotment money of Rs 2.16 crores is still unpaid. It has also been decided that in case the allotment money is not received up to September 30, 2006, the Board will be constrained to Forfeit the shares.

Source : Equity Bulls

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