Dhandapani Finance awaiting approval for issue of RPS to Zwirn Pragati

Dhandapani Finance Ltd has announced that further to the resolution passed in the Board Meeting held on May 26, 2008 with respect to issue of Redeemable Preference Shares to Zwirn Pragati Capfin Pvt Ltd, the Board in its meeting held on July 05, 2008, took on record the approval of Shareholders, by way of passing a special resolution, for the Issue and Allotment or Redeemable Preference Shares (RPS) to the extent of Rs 23 Crores to Zwirn Pragati Capfin Pvt Ltd (ZP) at the EGM held on June 21, 2008.

The Chairman declared that an application has been made to the regulatory authority on June 24, 2008 for taking its approval for the issue of the Redeemable Preference Shares (RPS) to Zwirn Pragati Capfin Pvt Ltd. However, the approval has not yet given for the issue of preference shares. The Board decided that the RPS would be alloted at a Board Meeting to be convened after the approval is received by the Company from the regulatory authority.

Source : Equity Bulls

Keywords