Ravileela Granites to consider capital reduction on Dec 13, 2013

A meeting of the Board of Directors of Ravileela Granites Ltd will be held on December 13, 2013, to consider the reduction of paid up Capital to Rs. 4,06,67,600 comprising of 40,86,000 equity shares of Rs. 10/- each against Accumulated capital losses.

The Board will also consider allotment of 65,00,000 equity shares of Rs. 10/- each upon conversion of unsecured loan into equity.

Shares of Ravileela Granites Ltd has been suspended from stock exchanges due to penal reasons.

Source : Equity Bulls

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