Rajath Finance Ltd to forfeit 400000 warrants

The Board of Directors of Rajath Finance Ltd at its meeting held on February 28, 2014, has decided to forfeit 4,00,000 convertible warrants issued to M/s N K Chem Mast Pvt. Ltd. on October 18, 2010, consequent to non-payment of balance of call money not received on the said warrants.

The Board has also decided looking into the present economic scenario, the Company will not proceed for demerger of its division into Hitraj Developers Pvt. Ltd.

Source : Equity Bulls

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