BKV Industries Ltd has announced that the members at the 13th Annual General Meeting (AGM) of the Company held on September 20, 2006, inter alia, have approved the reduction in the issued, subscribed & paid up capital of the Company from Rs 6,27,94,000/- consisting of 62,79,400 equity shares of Rs 10/- each to Rs 62,79,400 consisting of 62,79,400 equity shares of Re 1/- each and consequently the shares in the capital of the Company shall be of a face value of Re 1/- each.