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| Exchange Disseminated Time | MM Rubber Company Ltd has informed BSE that the shareholders of the Company at their meeting held on September 28, 2006, have "Resolved that pursuant to Section 100 of the said Act and subject to confirmation by the High Court, the capital of the Company be reduced from Rs 4,98,05,650/- dividend into 4980565 shares of Rs 10/- each to Rs 99,61,130/- dividend into 4980565 shares of Rs 2/- each and that such reduction be effected by cancelling capital which has been lost or is unrepresented by available assets, to the extent of Rs 3,98,44,520/- upon each of the 10 shares which have been issued and by reducing the nominal amount of all the shares in the Company's capital from Rs 10/- to Rs 2/- per share and consequential amendments in the Memorandum & Articles of Association of the Company."
Now the Company is intending to move the Hon'ble High Court of Chennai for confirmation as required under Sec. 101 of the Companies Act. |
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