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| Exchange Disseminated Time | Gandhimathi Appliances Ltd has informed BSE that the Company has submitted application to the Registrar of Companies at Chennai seeking permission for extension of financial year 2006-2007 upto 18 months u/s.210(4) of the Companies Act, 1956, i.e., from April 01, 2006 to September 30, 2007 and also for extension of time for holding the Annual General Meeting. Subsequently, permission has been granted by the Registrar of Companies for extension of financial year 2006-07 of the Company for a period of 18 months i.e., from April 01,2006 to September 30, 2007.
In view of the delay in hearing of Company's case by BIFR and its consequent inability to incorporate the proposals contained in Company's Draft Rehabilitation Package in the Audited Accounts for the above period, the purpose for which Company sought the extension of financial year is not getting fulfilled. In the circumstances, the Board of Directors, at its meeting held on September 28, 2007, after reviewing the latest position in this regard, resolved that in view of the delay in hearing of the Company's Rehabilitation Proposal by BIFR, the financial period of the Company for 2006-2007 be made up for a period of 15 months i.e., from April 01, 2006 to June 30, 2007. The Annual General Meeting of the Company in respect of the financial period ended on June 30, 2007 will be held latest by December 28, 2007. |
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