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| Exchange Disseminated Time | Federal-Mogul Goetze (India) Ltd has informed BSE that the Company had raised an amount of Rs. 1,288,626,752 by allotment of 23011192 shares on rights basis to existing shareholder vide Letter of Offer dated November 05, 2008 (LOI). Out of the funds raised under the said Rights Issue the Company could not utilize Rs. 1148.77 Lacs as per the objects of Issue and therefore is lying as unspent with the Company.
In this regard, the Company has informed that, the shareholders of the Company in the Annual General Meeting held on June 25, 2010 has authorized the Company to utilize the unspent amount of Rs. 1148.77 Lacs in the following manner:
a) Rs. 1,138.42 Lacs for the purchase of machineries other than those specified in the LOI under the category "Payment to Suppliers for the purchase of machineries (including interest)".
b) Rs. 10.35 Lacs inter-se to the object category of "General Corporate Purposes" from the "Issue Expenses" category. |
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