Chitradurga Spintex Ltd approves capital reduction

Chitradurga Spintex Ltd approves capital reductionThe Hon'ble High Court Judicature at Bengaluru, Karnataka in connection with Chitradurga Spintex Ltd's petition No. 62 of 2015 pursuant to section 100 to 104 of Companies Act 1956 approved the reduction of capital of the Company. As per clause 15/16 of the listing agreement read with Section 91 of Companies Act 2013 the Board has fixed Record Date as on September 24, 2015 to give effect to the reduction of capital of the Company.

The Board Meeting of the Company was held on October 03, 2015 allotted 4,61,030 equity shares to the members whose name appeared in Register of Members as on September 24, 2015. Fractional shares were rounded off to nearest number as per clause 6.3 of the Scheme of Reduction of Capital.

The capital of the Company after giving effect to the reduction is of Rs. 46,10,300/- consists of 4,61,030 fully paid up equity shares of equity shares of Rs. 10 each.

Source : Equity Bulls

Keywords