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| Exchange Disseminated Time | Indbank Merchant Banking Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 27, 2006, has passed the resolution, for reduction & adjustment of the Securities Premium of the Company amounting to Rs 66,60,70,000 and forfeited shares account of Rs 1,59,000 aggregating Rs 66,62,29,000, against the debit balance in the Profit & Loss account as on March 31, 2005 of Rs 97,72,57,065 reducing the same by Rs 66,62,29,000, subject to the consent of the Shareholders at the ensuing Annual General Meeting of the Company, the confirmation of the High Court at Chennai and other appropriate authorities in this regard.
Further the Company has informed that the aforesaid proposal be included as an item in the agenda for the ensuing Annual General Meeting of the Company, under the head "Special Business". |
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