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| Exchange Disseminated Time 05/05/2016 19:04:21 | Ashima Ltd has informed BSE that :
"We refer to the letter dated April 26, 2016 stating all ASBA banks unblocked the ASBA accounts, except “Yes Bank” and the subscription monies were transferred to rights issue account with ICICI Bank and that the Non ASBA refunds and unblocking of ASBA with Yes Bank remained pending.
In the meanwhile, the Debt Recovery Tribunal passed an Order dated April 18, 2016 making refunds subject to further conditions and with prior approval of Tribunal, despite there being High Court Orders dated March 09, 2016 and April 12, 2016.
The Company filed a writ petition against the said DRT order and Hon’ble Bombay High Court vide its Order dated May 03, 2016 (made available on May 04, 2016) passed a detailed Order confirming that the Orders dated March 09, 2016 and April 12, 2016 passed by the Hon’ble High Court cannot be interfered or obstructed by any of the Parties or any authorities and that the same cannot be obstructed in a manner which would come in the way of implementation of the statements made by the Senior Counsel of Ashima before the Hon’ble High Court.
Accordingly, the Company is now in the process of completing pending formalities and procedures for the Rights Issue." |
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