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| Exchange Disseminated Time 24/12/2015 17:05:53 | With reference to earlier announcement dated December 04, 2015; December 12, 2015 & December 18, 2015 communicating that Hon'ble Debt Recovery Tribunal-ll, Mumbai (DRT) has passed an order on December 03, 2015 for maintaining status-quo till December 23, 2015 on amounts collected from the Investors against shares in the Rights Issue, Ashima Ltd has now informed BSE that the Hon'ble Debt Recovery Tribunal-II, Mumbai (DRT) has on December 23, 2015 passed an order for continuing the status-quo till the next date of hearing i.e. January 11, 2016.
Further the Company has informed that, the Company has filed an Appeal in Debt Recovery Appellate Tribunal, which passed an order dated December 16, 2015 allowing the refund amount. However, the Hon'ble Appellate Tribunal stayed the same on December 17, 2015 and adjourned the matter to December 23, 2015. On December 23, 2015 the matter was further adjourned to December 30, 2015.
In view of the said DRT order dated December 23, 2015, the formalities relating to allotment, refund and listing of rights issue shares may be delayed further. The Company is taking appropriate steps in the matter. |
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