Ovobel Foods Ltd updates on capital reduction

The scheme of reduction of share capital of Ovobel Foods Ltd from Rs.10,50,08,000/- divided into 1,05,00,800 Equity Shares of Rs. 10/- [Rupees Ten only] each fully paid up to Rs. 9,50,08,000/- divided into 95,00,800 Equity Shares of Rs. 10/- (Rupees Ten only) each and that such reduction be affected by cancelling of 10,00,000 Equity Shares of Rs. 10/- each amounting to Rs. 1,00,00,000/- by adjusting advances paid to Karnataka State Industrial and Infrastructure Development Corporation Limited ('KSIIDC') and Ministry of Food Processing Industry ('MFPI') towards One Time Settlement (OTS) accounts.

The authorised capital of the company is Rs.l1,00,00,000/- (Rupees Eleven Crores only) divided into 1,10,00,000 equity shares of Rs. 10 (Rupees Ten only) each, of which 1,05,08,000 equity shares have been issued and have been fully paid-up.

Source : Equity Bulls

Keywords

OvobelFoods CapitalReduction KSIIDC MFPI OTS NCLTApproval