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| Exchange Disseminated Time 01/02/2017 15:31:17 | NLC India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 31, 2016, the Board has unanimously approved a proposal for the buy-back of 15,06,06,061 (Fifteen Crore Six Lakh Six Thousand and Sixty One) equity shares of Rs. 10 each representing 8.98% of the total number of equity shares in the paid-up share capital of the Company from the shareholders of the Company in terms of Sections 68, 69, 70 and other applicable provisions, if any, of the Companies Act, 2013 and rules made thereunder and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended (“Buyback Regulations”) (“Buyback”).
In compliance with Regulation 5A of the Buyback Regulations, enclosing a copy of the board resolution passed at the meeting of the Board on January 31, 2017.
The Company will provide relevant updates in relation to the Buyback as per applicable law in due course. |
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