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| Exchange Disseminated Time | Hindustan Motors Ltd has informed BSE that the Hon'ble High Court at Calcutta vide its Order dated December 15, 2010 has confirmed the reduction of share capital of the Company by reducing the paid-up value of equity shares from Rs. 10/- each fully paid up to Rs. 5/- each fully paid up. The certified true copy of the Order was received on January 07, 2011. The said Order along with Form 21 has been filed with the Registrar of Companies, West Bengal and the Registrar of Companies, West Bengal has issued certificate of registration of the said Order in terms of Section 103(4) of the Companies Act, 1956 on January 11, 2011.
The Company has fixed January 28, 2011 as the Record Date for the purpose of determining the names of the shareholders who shall be entitled to equity shares of Rs. 5/- each in lieu of existing shares of Rs. 10/- each in terms of the said Order dated December 15, 2010 confirming the reduction of capital. The nominal value of shares has also been simultaneously reduced from Rs. 10/- each to Rs. 5/- each.
Further, with the above reduction of capital, the number of shares held by a member remains same and only the nominal value and paid up value of equity share is reduced to Rs. 5/- each. |
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