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| Exchange Disseminated Time | Morarjee Textiles Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on March 19, 2012, inter alia, to transact the following:
1. Pursuant to the provisions of Sections 100 to 103 and other applicable provisions, if any, of the Companies Act, 1956, Article 46 of the Articles of Association of the Company and subject to obtaining such approvals, consents, permissions and sanctions as may be required and subject to the confirmation by the Hon’ble High Court of Judicature at Bombay under Sections 391 to 394 read with Sections 100 to 103 of the Companies Act, 1956, as an integral part of the Scheme, the face value and paid up value of Equity Shares of the Company be reduced from Rs. 10/- per share fully paid to Rs. 7/- per share fully paid and thereby reducing the aggregate issued, subscribed and paid-up capital of the Company from Rs. 36,33,23,490/- divided into 3,63,32,349 equity shares of Rs. 10/- each fully paid up, to Rs 25,43,26,443/- divided into 3,63,32,349 equity shares of Rs. 7/- each fully paid up.
2. Pursuant to the provisions of Sections 16 and 94 of the Companies Act, 1956 and other applicable provisions, if any, of the Companies Act, 1956 and subject to obtaining such approvals, consents, permissions and sanctions as may be required and subject to the confirmation by the Hon’ble High Court of Judicature at Bombay under Sections 391 to 394 of the Companies Act, 1956, and in pursuance of the Composite Scheme of Arrangement and Amalgamation of Morarjee Textiles Limited and Five Star Mercantile Limited and Morarjee Holdings Private Limited and their respective shareholders & consequential amendment in the Memorandum of Association of the Company. (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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