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| Exchange Disseminated Time | AI Champdany Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2009, inter alia, has transacted the following:
1. Subject to approval of the Shareholders and other requisite approvals decided for Right Issue of Redeemable Preference shares at face value of Rs. 10/- each to the equity shareholders with terms etc. to be decided in consultation with the Merchant Banker to be appointed for the purpose.
2. Decided to transfer of one of the closed unit of the Company i.e. Shalimar Unit to the Wholly Owned Subsidiary subject to approval of the Shareholders under section 293(1)(a) of the Companies Act, 1956 and other approvals as may he required. |
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