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| Exchange Disseminated Time 14/08/2015 20:04:33 | Jai Balaji Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held August 14, 2015, inter alia, have :
1. Proposed to convert the loan received from M/s. Hari Management Limited, Promoter shareholder of the Company, into Zero Interest Unsecured Unlisted Non - Convertible Debentures, subject to statutory approvals, if any.
2. Formed an opinion that the Accumulated Losses of the Company for the year ended March 31, 2015 having exceeded the entire net worth, a reference be made to the Hon’ble Board for Industrial and Financial Reconstruction in terms of the provisions of Section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985.
3. Noted the resignation of Shri. Shyam Bahadur Singh as an Executive Director w.e.f. August 14, 2015.
4. Appointed Shri. Amit Kumar Majumdar a Director on the Board as an Executive Director of the Company w.e.f. August 14, 2015. |
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