Puneet Resins to adjust losses against reserves

Puneet Resins Ltd has announced that the Board of Directors of the Company at its meeting held on July 13, 2006 has passed the proposal for reconstruction / arrangements of the Company. The object of the proposal is to adjust the capital reserves of Rs 1.03 Crores as on March 31, 2006 by setting off the same against accumulated losses of Rs 2.19 Crores of the Company, subject to the approval of the shareholders and Hon'ble High Court of Mumbai.

Source : Equity Bulls

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