Interim Court Order restrics GHCL on Conversion of Preferential Warrants

GHCL Ltd has announced that regarding issue, allotment and conversion of 45 lacs preferential warrants into equity shares to Oval Investment Pvt Ltd (OIPL), a promoter company.

The Company have been informed by the OIPL vide its letter dated April 19, 2008 that, Court of Civil Judge Bharatpur had passed interim injunction order on April 18, 2008 restraining OIPL from conversion of warrants into equity shares.

Court of Civil Judge (Sr.) Division, Noida had passed interim injunction order staying the operation of the resolution passed by the shareholders of GHCL in the EGM held on August 04, 2006 to issue and allot 45 lacs shares to OIPL.

Further the Company has informed that the Company is taking the appropriate steps in the matter meantime, pursuant to the above interim Injunction orders, the Company would not be able to take any further actions in respect of said preferential issue.

Source : Equity Bulls

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