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| Exchange Disseminated Time | With reference to the earlier letters dated January 10, 2009 & May 14, 2009 with regard to Scheme of Compromise and/or Arrangement between the Company and its secured lenders and equity shareholders of the Company under Section 391 of the Companies Act, 1956 as approved by the Hon’ble High Court of Gujarat.
In context and pursuant to the order dtd. August 27, 2013 passed by the Hon’ble High Court of Gujarat in OJ Appeal No. 1 of 2009 in Company Petition No. 3 of 2008 with Civil Application No. 218 of 2010 in OJ Appeal No. 1 of 2009, Panchmahal Steel Ltd has now informed BSE that :
The meeting of the Board of Directors of the Company is scheduled to be held on September 25, 2013, inter alia, to consider the issue and allotment of 1,73,869 Equity Shares of Rs. 10/- each at a premium of Rs. 152.75/- per share to M/s. Gujarat Industrial Investment Corporation Limited (GIIC) as per the Order of the Hon'ble High Court of Gujarat. |
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